Bill Gates Dips in Big On Water Battery Technology

Aquinon Energy, the Pittsburgh-based company that manufactures sodium ion batteries and energy storage systems, has found a big believer in the software tycoon Bill Gates (News - Alert).

And money is talking – since Bill Gates chipped in on Aquinon's latest round of funding, the company states it has raised $35 million.

How much the Microsoft (News - Alert) billionaire's donation figures into that lofty sum has not been disclosed.

What sold Gates was Aquinon's emerging water-based technology, which is designed to store power generated by intermittent renewable energy projects like those using wind and solar. Ideally, the batteries will be kind to the environment and cheaper than other energy storage solutions. The batteries use salt water as an electrolyte as opposed to chemicals, which have been found to both costly, and potentially damaging to the planet.

Gates is generally keen on game-changing green technologies outside of his native computer field. In addition to supporting energy storage solutions he is also a backer of research into next-generation nuclear systems, such as traveling wave reactors that are made to run for decades while emitting only minimal levels of radioactive waste. 

The Microsoft mogul is prudent, however, advising investors against “cute” technologies like individual solar panels and calling attention to “breakthrough” low energy technologies that could benefit developing nations and make significant impact.  

Bright Capital led Aquinon's latest funding round and attracted the investments of other eager investors, including Gentry Venture Partners, Kleiner Perkins Caulfield & Byers, Foundation Capital and Advanced Technology Ventures.

The recent earnings will add to a $15-million loan facility that Aquinon Energy closed last year. The sum also follows a funding round completed in 2011 that earned Aquinon $20 million.

Mass production of the sodium ion batteries is scheduled to take place in Aquinon's Pennsylvania plant early next year.