Tuesday, May 31, 2011

Primus Power Raises $11M

Hayward-based Primus Power, a developer of grid-scale, energy storage systems, said today that it has raised $11M in a new round of financing. The round came from DBL Investors and I2BF Global Ventures, along with existing investors Chrysalix Energy Venture Capital and Kleiner Perkins Caufield & Byers. The firm said the funding will go towards development and commercialization of its distributed storage technology. Primus Power's storage products are based on battery technology. More information »