EnerG2, a Seattle startup developing nanomaterials for energy storage, has raised $8.5 million from OVP Venture Partners and Firelake Capital, according to sources familiar with the deal.

Chief Executive Rick Luebbe declined to comment, saying a formal announcement about the company will be made later this month. Representatives at OVP could not be reached for comment earlier today. The news was first reported today by Xconomy.

Luebbe is the former chief executive of Hubspan, a venture-backed Seattle software startup. Aaron Feaver, formerly a project manager with Boeing’s Design for Environment/Manufacturing initiative, and Chris Wheaton, a former vice president at Loudcloud, round out the management team.

Energ2 was founded in 2003 with technology from the University of Washington's Department of Materials Science & Engineering.

The investment is one of the latest for OVP, which appears to be moving ahead with new deals despite the sour economy. Earlier today, my colleague Eric Engleman reported on OVP's participation in a $6 million investment in network security startup Napera Networks.

The Kirkland venture firm also has been moving more aggressively into clean tech deals having recently placed bets on companies such as Boise-based M2E Power and Los Altos, Calif.-based Tigo Energy.