Battery Maker VionX Energy Raises About $58 Million in Financing

(Bloomberg) — VionX Energy Corp., a U.S. battery maker
formerly known as Premium Power Corp., raised about $58 million
from 11 equity investors, according to a regulatory filing.

The company, based in North Reading, Massachusetts, is
seeking approximately $63 million in the funding round,
according to a U.S. Securities and Exchange Commission filing
Wednesday.

Raising almost $60 million would be “massive” as venture
capital funding “has largely dried up recently, with only a few
exceptions,” said Brian Warshay, a New York-based analyst for
Bloomberg New Energy Finance.

Doug Alderton, a VionX spokesman, didn’t immediately return
a phone message seeking comment.

The global market for batteries is about $50 billion
annually.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Robin Saponar, Tina Davis

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