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Ioxus opens new ultracapacitor-manufacturing facility in Oneonta

By Eric Reinhardt

Date:

ONEONTA — Ioxus, a manufacturer of ultracapacitor technology, on Monday announced the opening of its second manufacturing facility in Oneonta.

Ioxus built the facility to meet demand from customers in China, the company said in a news release.

The 22,000-square-foot plant, located near the Ioxus headquarters, increases capacity for both electrode manufacturing and module assembly to meet demands for Ioxus products worldwide.

The firm manufactures ultracapacitors for the transportation, alternative energy, medical, industrial, and consumer-product markets, the company said.

With its new site, Ioxus is adding 30 new jobs that will increase its U.S. employee count to 150 people, the company said.

The facility opening adds to a “busy” four months for Ioxus, Mark McGough, CEO of Ioxus, said in the news release.

The firm added Durham, N.C.–based FlexGen Power Systems and the Jamaica, N.Y.–based Long Island Rail Road as new customers, and investors provided more than $20 million in financial support, McGough said.

“Customers love our products, and that is why we are seeing Ioxus ultracaps designed into a broad array of products including buses, trains, cars, heavy machinery, solar panels and other industrial equipment. The expansion of our manufacturing facilities allows us to meet the supply requirements of major new customers in these applications. Worldwide, Ioxus now utilizes over 100,000 square feet of manufacturing capability in four locations,” McGough said.

Ioxus on April 3 announced it had attracted $21 million in investment money, representing the completion of its series-C funding.

Washington, D.C.–based International Finance Corp. (IFC), a member of the World Bank Group, and the Westly Group, a Menlo Park, Calif–based venture-capital firm, led the financing, Ioxus said.

IFC is the “largest global-development institution focused exclusively on the private sector,” according to a news release on the Ioxus website.

Ioxus plans to use the funds to expand its customer service, sales and manufacturing in Asia, with a focus on China.

Besides its facilities in Oneonta, Ioxus also has operations in Japan, according to its website.

Contact Reinhardt at ereinhardt@cnybj.com

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