US based energy storage systems provider, Aquion Energy, has reportedly acquired an additional $25 million which will be invested for infrastructure upgrades, used to accelerate production and decrease lead time to market. CleanTechnica says that the energy storage market is expected to experience a boom in the next few years. It states that this notion is supported by ‘the reality of a stressed electrical grid and recent energy storage mandates enacted by several state utility commissions’.
Aquion has accrued funding from a number of venture capitalists who allowing them to expand and growing their offering. CleanTechnica also makes reference to the company’s $55 million MoU with Siemens earlier this year offer a ‘fully integrated Aqueous Hybrid Ion-based energy storage system’ to test under real market conditions. Scott Pearson, Aquion’s Chief Executive said: ‘Our work with Siemens is a key step in the validation of our technology at commercial scale as we significantly ramp our production capacity.’