Former Protonex CEO lands new position

Aquion Energy, Inc., a developer and manufacturer of a revolutionary sodium ion, aqueous electrolyte class of battery, has named Scott A. Pearson as its Chief Executive Officer. Mr. Pearson was previously President and CEO of Protonex Technology Corporation, a Massachusetts-based provider of high performance fuel cell power systems.

“We are thrilled to attract someone of Scott’s caliber and experience to lead Aquion as we enter our next phase of growth,” said Ray Lane, the Chairman of the Board at Aquion and a Managing Partner at Kleiner Perkins Caufield & Byers (KPCB). “Scott is the ideal person to manage the company’s product and market strategies, to establish world-class manufacturing operations, and to build mutually beneficial partnerships with leading customers, strategic partners and government agencies. We at KPCB are also very pleased to see Aquion Energy, one of our most promising venture investments, transitioning from an early-stage technology development organization into a full-fledged product company.”

“I am excited to join the Aquion team and to lead the organization as we target the exciting opportunities that exist in the market today as well as the new opportunities that this unique technology enables,” said Pearson. “The company’s proprietary technology base and compelling value propositions in conjunction with the industry’s strong need for better energy storage solutions provide a strong foundation for building a valuable, industry-leading company.”

Mr. Pearson is a seasoned and well-respected senior executive, with twenty years of experience leading a wide range of technology-based companies and organizations. His professional experience spans a broad range of industries including uninterruptible power systems (UPS), fuel cell power systems, electric vehicles, electronics assembly equipment and materials, digital imaging and defense systems. Prior to joining Aquion, Mr. Pearson served as President and CEO of Protonex Technology Corporation for six years and remains the Chairman of the Board. He also serves on the Board of the New England Clean Energy Council. He holds an M.B.A. from MIT’s Sloan School of Management, an M.S. in Mechanical Engineering from MIT and a B.S. in Mechanical Engineering from the University of Massachusetts.

About Aquion Energy

Aquion Energy, Inc. is a Pittsburgh-based company that is designing and manufacturing a revolutionary type of battery based on the research of Carnegie Mellon University Professor Jay Whitacre. The company has developed a novel, sodium-ion, aqueous electrolyte battery that will enhance the electrical grid by providing flexible, emissions-free capacity that optimizes existing generation assets and enables broad adoption of renewable energy technologies. Aquion’s battery system will also address a myriad of other energy storage application challenges. Beyond minimized cell and system costs and dramatic performance enhancement over incumbent technologies, the company is building batteries that are safe, environmentally benign and long lasting.

Starting in the spring of 2011, Aquion will assemble and test, to application specifications, large format prototype units produced on a scaled pilot line in Pittsburgh. Initial customer shipments are expected to begin in the fall of 2011.

Aquion has been funded to date by Kleiner Perkins Caufield & Byers and the U.S. Department of Energy. For more information about Aquion please visit www.aquionenergy.com.