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EnerG2 awarded $21.3M in energy stimulus funding for facility in Oregon

EnerG2, a Seattle-based startup in the energy storage market, has received $21.3 million in federal stimulus funding from the Department of Energy to build a high-tech facility in Oregon for commercial-scale production of its nano-engineered ultracapacitor energy storage material.

EnerG2 uses University of Washington technology to create ultracapacitors which store and release more energy faster than conventional batteries.

In a press release announcing the funding, Rick Luebbe, CEO of EnerG2, said, "We appreciate the Department of Energy's confidence in us and we are eager to help the next generation of clean transportation become a reality. We are confident that our materials will improve these vehicles' efficiency, range and affordability."

Related external links (will open a new window):

  • EnerG2 Is Awarded $21.3 Million in Federal Stimulus Funds
    EnerG2 - Seattle - August 5, 2009

    Related WTC links:

  • EnerG2 is a WTC client
  • EnerG2 raises $2.5 million in equity and options
    Posted 6/03/2009
  • EnerG2 raises $8.5 M in financing round
    Posted 11/18/2008

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    1 Comments:

    Anonymous Anonymous said...

    It's a bummer that this technology is created at the University of Washington, but presumably the business environment is such that EnerG2 chose to headquarter themselves in Oregon.

    8/07/2009 8:51 AM  

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