ONEONTA, N.Y.--(BUSINESS WIRE)--Ioxus, a manufacturer of premium performance ultracapacitor technology for use in transportation, industrial and energy applications, today announced incorporation of Ioxus (Shanghai) Clean Energy Technology Co., Ltd., in Shanghai, China. The new operating entity will sell directly to the Asian market enabling Ioxus to better serve the needs of a rapidly growing global customer base.
Asia is one of the world's leading consumers of ultracapacitor technology for 'new energy' buses, passenger rail, automobiles, and renewable energy generation. Ioxus’ new downtown Shanghai facilities include an office and a fully-functional warehouse located in Shanghai’s FTZ (Free Trade Zone), further establishing the company’s commitment to the region and its customers. The facility will serve as a storage and distribution center enabling the quick delivery of products, specifically for hybrid bus installation.
“Asia’s demand for improved, clean energy storage has grown tremendously over the last several years,” said Mark McGough, CEO, Ioxus. “Our ultracapacitors are environmentally friendly and designed to deliver the highest power, energy density, and performance available on the market today with the lowest resistance possible. With Ioxus (Shanghai) Clean Energy Technology Co., Ltd., we strengthen our presence in the region by streamlining the process of delivering our industry leading technology to customers.”
This announcement comes on the heels of several other recent initiatives focused on expanding Ioxus’ presence in China. In April, Ioxus secured $21 million in series C funding to expand operations in China and Europe, and opened its second U.S. manufacturing facility to help meet rapidly increasing demands for Ioxus products worldwide.
The new Shanghai office – located at 2616 Ascendas Plaza, 133 Tianyaoqiao Rd, Xuhui District, Shanghai 200030 – will include sales support and field application engineering to assist with market applications such as automotive and transportation.
About Ioxus
Ioxus manufactures high performance ultracapacitor technology for transportation, alternative energy, medical, industrial and consumer product markets. The company offers the broadest range of cell styles in the industry, from 100 Farads to 3,000 Farads, with both iCAP® cylindrical and THiNCAP® pouch cell form factors. Ioxus ultracapacitors have higher power and energy density compared to other ultracapacitors with smaller, lighter weight iMOD® modules and the new iMOD X-Series™ family of module systems. Ioxus ultracapacitor products are uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications. Ioxus is headquartered in Oneonta, N.Y., with legal operations in China as Ioxus (Shanghai) Clean Energy Technology Co., Ltd. For more information, visit www.ioxus.com.