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Aquion Energy Inc., a developer of Aqueous Hybrid Ion (AHI) batteries and systems for utlity-scale stationary energy storage applications, has completed the first closing of a $35 million Series D financing round.

Bright Capital led the round, with participation from new investors Bill Gates and Gentry Venture Partners, as well as returning investors Kleiner Perkins Caufield & Byers, Foundation Capital and Advanced Technology Ventures.

"Aquion has demonstrated the viability and potential disruptiveness of its novel energy storage technology. We expect Aquion's products to be a key enabler for the emerging energy storage industry that many experts predict will grow exponentially in the next decade," says Mikhail Chuchkevich, managing director of Bright Capital.

The company says it will be delivering initial, pre-production units to selected lead customers and partners throughout 2013 and will begin shipping production units from its manufacturing plant in Pennsylvania at the end of this year.

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