Thursday, November 20, 2014
Calnetix Buys Vycon
Cerritos-based Calnetix Technologies said this morning that it has acquired VYCON, the developer off flywheel-based energy storage systems. Financial terms of the buy were not disclosed. Calnetix--which develops and manufactures high-speed permanent magnet motor generators, power electronics and magnetic bearings--said Vycon will become a wholly owned subsidiary of the company. VYCON's flywheel technology has been used for storing energy in subway systems, for wind power generation, and other areas. VYCON was venture backed by BankInvest, Cooper Capital Partners, RWE Venture Capital Funds GmbH, Sumitomo, and Tridus International.