Aquion Energy, Inc. Emerges from Chapter 11 Bankruptcy Status Under New US-Based Ownership

PITTSBURGH, July 21, 2017 /PRNewswire/ -- Aquion Energy, Inc., the developer and manufacturer of Aqueous Hybrid Ion (AHI) batteries and systems, is excited to announce the resumption of operations this week after successfully emerging from Chapter 11 status.  The investing company, a majority-American joint venture, is planning to rapidly rebuild strong technical, operations, and commercial teams.  Delivering market-leading price, performance, safety, and sustainability remains the core target of the Aquion Energy Corp.

"Aquion Energy will be a stronger company after emerging from this protection transition period.  We are refocused on technology and go-to-market opportunities that will grow significant volume for the company in the coming years. Aquion's battery technology has always been world leading.  We now need to focus on what we do best – creating the safest, cleanest, and lowest cost per kWh-cycle battery technology in the world – with a simple business model that can effectively compete in the marketplace.  With a renewed focus on expanding our product offerings into the growing markets in China and other global markets, we intend to deliver the lowest price per kWh-cycle battery in the world," stated Philip Juline, CEO of the company. 

Aquion has created a very promising energy storage platform and has proven the technology is capable in hundreds of installations worldwide.  The company has also captured many prestigious awards including:  MIT's Top 100 Smartest Companies (2015, 2016), Global Cleantech - North American Company of the Year (2017), Platt's Energy - Rising Star Award (2016), and the EES Award for Energy Storage (2015).

With a refocused team, the new ownership plans on rapid revenue growth, "We are confident with our committed business orders and aiming to build Aquion into a billion-dollar company in the upcoming years.  We are only limited by our ability to ramp and scale our operations," states Philip Juline.

Media Contact: Liam Cooney, Phone: 567-523-9712

SOURCE Aquion Energy Inc.