University of Washington Startup, Raises $8.5M for Energy Storage

EnerG2, an advanced materials company in Seattle, has closed an $8.5 million round of Series A financing, led by Kirkland, WA-based OVP Venture Partners and Palo Alto, CA-based Firelake Capital Management, according to multiple sources familiar with the deal. This suggests that energy venture deals could be hot, even in the midst of a cold recession. EnerG2 was founded in 2003, with technology from the University of Washington. The company is developing novel materials—synthetic carbon powder, carbon monoliths, nanocomposites, and others.

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