EnerG2, a manufacturer of carbon materials which are used in next-generation energy storage systems such as lead acid batteries, ultracapacitors and lithium ion batteries, has raised $9.3 million in financing, according to a SEC filing.
“Our investors have seen the successful transition EnerG2 has made from its roots as an energy storage R&D company to a manufacturer of energy storage applications,” said EnerG2 CEO Rick Luebbe tells GeekWire. “These new funds will support EnerG2’s continued efforts with customers and help grow our manufacturing base.”
The 9-year-old company, which spun out of the University of Washington with technology developed by Aaron Feaver, opened a manufacturing facility in Albany, Oregon earlier this year. It is currently working with about 60 global partners on its technology.
“At the base level, we make a black powder to store electrostatic energy,” said co-founder and COO Chris Wheaton in the video below. “We make ingredients that go into energy storage devices like batteries and ultracapacitors.”
In addition to backing from the United States Department of Energy and the Washington State Energy Program, EnerG2 has received backing from the Washington Technology Center, WRF Capital, the Sustainability Investment Fund, Northwest Energy Angels, the Frontier Angel Fund, OVP Venture Partners, Yaletown Venture Partners, Firelake Capital Management and strategic partner Oregon Freeze Dry.
Earlier this year, EnerG2 named former GM executive Bob Lutz — who was instrumental in launching the Chevy Volt — to its board.
Here’s a good overview of the company: