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Ultracap company Ioxus closes $21M Series C round; IFC leads; focus on China

7 April 2014

Ioxus, a manufacturer of premium performance ultracapacitor technology for use in transportation, industrial and energy applications, completed its series C funding with receipt of $21 million from investors. IFC, a member of the World Bank Group, and the largest global development institution focused exclusively on the private sector, together with the Westly Group, a venture capital firm based in Menlo Park, California, led the financing.

The company plans to use the funds to expand its customer service, sales and manufacturing in Asia, with a focus on China.

China is the leading global market for new energy buses, passenger rail, automobile sales and renewable wind power generation; Ioxus products directly benefit those applications. With the assistance of IFC, Ioxus will significantly expand its sales, customer service and manufacturing presence in China.

April 7, 2014 in Brief | Permalink | Comments (1) | TrackBack (0)

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Ioxus picked the right market to develop, mass produce and sell its improved ultracaps.

Actual, near, mid and long terms; Wind energy and electrified vehicles will probably use more and more high performance long lasting ultracaps.

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