https://archive.triblive.com/business/local-stories/aquion-energy-adds-15m-in-loans-to-aid-startup/
Aquion Energy adds $15M in loans to aid startup
Aquion Energy Inc., a startup technology company that makes innovative batteries, is getting $15 million in loans from two, out-of-state venture capital businesses, the Lawrenceville company said on Tuesday.
Horizon Technology Finance Corp., a specialty finance company in Farmington, Conn., will provide $10 million. Silicon Valley Bank, Santa Clara, Calif., will provide the other $5 million.
Aquion produces cutting-edge, aqueous electrolyte sodium ion batteries, whose salt-water base makes them environmentally friendly and cost-efficient to produce.
CEO Scott Pearson said the infusion would provide “additional financial strength” to expand the company. It plans to hire about 340 people during the next three years.
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