Inside the Fall, and Rebirth, of a Bill Gates–Backed Battery Startup

11 Aug 2017   Energy Storage

Aquion Energy’s abrupt bankruptcy filing in March left industry observers wondering what went so wrong, so quickly at the promising grid-battery startup. But now that the company has emerged from Chapter 11, founder Jay Whitacre is finally free to discuss what happened behind the scenes, and what comes next. In an exclusive interview with MIT Technology Review , Whitacre said the rebooted Aquion is a very different company, and one better positioned to succeed in the brutal storage business (see “ Why Bad Things Happen to Clean-Energy Startups ”). In a bankruptcy auction last month, the company was acquired by “ a majority-American joint venture ” that is closely affiliated with China Titans Energy Technology Group, a publicly traded investment holding company focused on grid technology. The new parent company brings along financial heft, manufacturing expertise, and direct connections to big energy operations in China, addressing crucial challenges Aquion […]

Comments are closed.