Aquion Energy is filing for bankruptcy. The technology had major promise as being a viable balance of systems component in renewable energy and distributed generation markets.
The statement coming from Aquion is officially...
"Creating a new electrochemistry and an associated battery platform at commercial scale is extremely complex, time-consuming, and very capital intensive. Despite our best efforts to fund the company and continue to fuel our growth, the Company has been unable to raise the growth capital needed to continue operating as a going concern,"
stated Scott Pearson, Aquion's outgoing Chief Executive Officer and Suzanne Roski, who is the now Company's Chief Restructuring Officer.
The timing seems very odd however when you look at who Aquion has gotten their funding from, including Bill Gates. Gates, who has formed a coalition of 20 billionaires from around the world now suddenly seems unwilling to fund the operation's growth and see to it that these make a real impact in the renewable energy market. It makes you wonder what the real strategy is from the investment tycoons.
Just last December of 2016, a very short period ago, Gates claims to have launched a $1 Billion Dollar "