34585 - Ioxus

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Summary of Investment Information

Project Number

34585

Company Name

Ioxus, Inc.

Date SPI Disclosed

Dec 23, 2013

Country

World Region

Region

Global

Projected Board Date

Feb 14, 2014

Environmental Category

C - No Impact

Status

Completed

Last Updated Date

Sep 30, 2022

Department

TMT, Venture Capital & Funds

Industry

Infrastructure

Previous Events

Approved : Feb 28, 2014
Signed : Mar 24, 2014
Invested : Mar 26, 2014

Sector

Energy Efficiency

Project Description

Founded in 2007, Ioxus develops and manufactures ultracapacitors with higher power and energy density than traditional ultracapacitors at lower cost. Its technology and products can be applied across different sectors, including start-stop applications for transportation, pitch control for wind turbines, industrial automation and power tools.

The funds raised will be deployed to expand facilities, develop sales and marketing, and expand product offerings and application portfolio.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	5.0

Development Impact

1. Amid growing calls to reduce carbon emissions worldwide, developing countries like China have become strong advocates of developing a low carbon economy. This project would contribute to development of the clean technology sector in China and assist the government of China to reduce GHG emissions from buses through cost effective and environmentally responsible solutions.
2. GHG impact is larger by saving 5-12 percent in 90 percent of cars through mild hybrids than by saving 50 percent in 0.1 percent of cars through EVs.
3. This project would enable product transfer to other developing regions, such as Southeast Asia.

1. Long term financial partner for the Company: Ioxus will benefit from IFC''s patient capital and flexibility in structuring and investment products. IFC can offer loans and assistance in obtaining support from local banks, including providing partial guarantees potentially through the CHUEE program.
2. IFC''s support should help the Company reach a level of scalability that will speed the adoption of ultracapacitors and increase its acceptance by especially bus operators in China.
3. IFC can offer its knowledge and experience in the transportation and infrastructure sector, combined with expertise from the World Bank Transport and Urban Team.
4. Mine IFC portfolio for other transportation clients.

E&S Category Rationale / Risks and Mitigation

The key environmental and social issues examined at appraisal were emissions to air, water, and substrate, and health and safety for workers in the planned assembly of capacitors and modules in China. Considering the lack of hazardous materials, lack of wastewater, and automation in the assembly process, the associated risks and impacts in this project are expected to be low, so the project is classified as Category C according to IFC''s environmental and social review procedure.

Contacts

For Inquiries About the Project, Contact

Xiaomin Mou
Venture Capital
International Finance Corporation
1501 Tower 2 World Trade Center
1 Jianguomenwai Dajie
Beijing, China 10004
Tel: +86 10 5860 3000

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Local Access of Project Documentation

Ioxus, Inc.
18 Stadium Circle
Oneonta, NY 13820
e-mail: mailto:sales@ioxus.com
Toll Free: +1 877-751-4222
Phone: 607-441-3500
Fax: 607-433-9014

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