Tuesday, July 27, 2010

SAIL Co-Leads Investment In Energy Storage Firm Xtreme Power

Costa Mesa-based clean technology venture investor SAIL Venture Partners is one of the firm co-leading in investment in energy storage firm Xtreme Power, which announced today that it has raised $29.5M. According to Xtreme Power, SAIL Venture Partners, an existing investor in the firm, co-led the new investment along with Bessemer Venture Partners and The Dow Chemical Company. Xtreme Power, which is based in Kyle, Texas, develops energy storage technology used for large-scale, utility renewable power projects. Walter Schindler, Managing Partner at SAIL Venture Partners, has joined Xtreme Power's board as part of the funding. Xtreme Power's investosr also include POSCO ICT and SkyLake & Co, and the firm also added Bessemer's Umesh Padval to the board along with the funding. More information »