Flywheel energy storage co. Pentadyne packs away $2M
Pentadyne Power, a Chatsworth, Calif.-based developer of flywheel energy storage systems, has just closed $2 million in debt financing from an undisclosed source. The company previously brought in $80 million from Rustic Canyon Ventures, DTE Energy Ventures, MVV Innovation Portfolio, Nth Power and Loudwater Investment Partners, reports VentureWire.
It most recently took $22 million last September. At the time, it planned to use the money for overseas expansion. Flywheel systems store energy kinetically, rather than chemically… Continue Reading