Flywheel System Developer Receives Funding
Sep 19, 2007 11:30 AM
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Loudwater Investment Partners has led a $14 million capital round to further company growth and product development of Pentadyne Power. Edward Forwood, managing director of Loudwater, said, "Pentadyne has developed the most efficient flywheel energy storage technology with immediate application in UPS and other markets. We are confident that this will soon result in market leadership.”
"We are on a terrific run as a business, with revenues, production and product development progressing to new heights every month,” said Pentadyne president and CEO Mark McGough. "We have just recapitalized the company with $14 million in new cash and signed up an excellent and experienced new investor in Loudwater. We are also looking forward to another great year ahead, hitting new records in 2008 with the goal of being the number-one industrial flywheel manufacturer worldwide.”
