Pentadyne Completes Initial Close of Series C Financing

October 19, 2004 by Jeff Shepard

Pentadyne Power Corp. (Chatsworth, CA), a developer of flywheel power systems for power quality, distributed power and power recycling applications, announced that it completed an initial close of its Series C financing round for $8 million. Investors in the round included Nth Power, DTE Energy Ventures, Accera Venture Partners, Sempra Energy and other private investors. Pentadyne will use the funds to expand its product commercialization efforts through leading distribution channel partners, including Emerson Network Power/Liebert.

"We are extremely pleased to have the continued support from some of the most recognized energy technology investors in the industry," said Pentadyne President and CEO Paul Craig. "Pentadyne is now in a position to ramp up production to meet customers’ needs in multiple market applications through world-class distribution channel partners."