EnerG2 emerges from stealth with ultracapacitor material

Seattle startup EnerG2 has come out of stealth mode, unveiling its advanced materials being applied to boost the performance and reduce the cost of ultracapacitors.

It was reported earlier this month that EnerG2 raised $8.5 million in a Series A financing. The round was led by investors OVP Venture Partners and Firelake Capital Management, and included participation from Washington Research Foundation’s WRF Capital, the Sustainability Investment Fund and members of the Northwest Energy Angels (see What economic slowdown?).

EnerG2's technology was spun out of the University of Washington. The company's electrode materials could also have applications in natural gas storage, hydrogen storage and photovoltaics.

EnerG2 CEO Rick Luebee told VentureBeat that the company restructured carbon at the nano level to improve electrodes by increasing surface area and making them more porous so ions can flow more easily. The result is electrodes with up to five times the power density, EnerG2 says.

The company is pursuing markets in electric rail systems, industrial applications for heavy-duty vehicles and expects to begin shipping in the second quarter of 2009.

The competition in ultracapacitors includes EEStor, the secretive Cedar Park, Texas-based ultracapacitor developer, and San Diego-based Maxwell Technologies (Nasdaq: MXWL).

Read the article here »