Chatsworth, California [RenewableEnergyAccess.com] Pentadyne Power Corporation, a commercial manufacturer of renewable energy storage systems using advanced composite flywheel technology, announced today that Loudwater Investment Partners have led a $14 million capital round to finance further company growth and product development.
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.”
Flywheels are seen as a promising replacement for conventional chemical batteries in the future. By using electricity to accelerate a rotor, a flywheel device stores energy mechanically in the form of kinetic energy.
“We are on a terrific run as a business, with revenues, production and product development progressing to new heights every month,” said Pentadyne President & CEO Mark McGough.
Loudwater invests in late stage private growth companies and has offices in London and San Francisco. Approximately half of their investments are in US technology companies. Loudwater is the Investment Adviser to Loudwater Trust Limited, a closed-ended investment company incorporated in Guernsey and listed on the London Alternative Investment Market (AIM).