Pentadyne Gains $22M

Chatsworth-based Pentadyne Power said Monday that it has raised $22M in a financing round. The firm, which develops flywheel energy storage systems, said the funding will go to fuel expansion of the firm into new markets. The company said the funding came from existing investors in the firm, although specific investors in the funding round were not disclosed; the company has previously scored funding from Nth Power, DTE Energy, Energy Innovation Portfolio, Semptra Energy, Rustic Canyon Partners, Electricite de France, Loudwater Investment Partners, and Ben Rosen. Pentadyne's flywheel systems are used for large-scale, uninterruptible power supplies. More information »