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Industry News
September 21, 2007
Pentadyne Announces $14M Venture Investment By Loudwater
Pentadyne Power Corp. announced that Loudwater Investment Partners have led a $14 million capital round to finance further company growth and product development. Loudwater invests in late stage private growth companies. Approximately half of their investments are in US technology companies.
"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. "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 #1 industrial flywheel manufacturer worldwide."
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."
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