Pentadyne Energy Corp. | 2008 News | Pentadyne Closes Financing Totaling $22M

<div style="MARGIN: 0in 0in 0pt"><font size="2"><strong>Chatsworth</strong><strong>, Calif.</strong><strong> – Sept. 22, 2008 –</strong> <a href="http://www.pentadyne.com/"><font color="#800080">Pentadyne Power Corporation</font></a>, the world leader in flywheel energy storage systems, announced that it yesterday successfully closed a financing round totaling $22 million including the conversion of existing convertible ventures.</font></div> <div style="MARGIN: 0in 0in 0pt"> </div> <div style="MARGIN: 0in 0in 0pt"><font size="2">The new capital will be used to fuel expansion of the company into new markets, with enhanced energy storage systems and the sales and production of new and existing products. </font></div> <div style="MARGIN: 0in 0in 0pt"> </div> <div style="MARGIN: 0in 0in 0pt"><font size="2">“This latest round of financing comes from our existing investor base – support from the folks who know the most about our company, our products, our talent and our capabilities,” said Mark McGough, President and CEO of Pentadyne. “The commitment of these investors to continue their interests in the company speaks volumes about their confidence in the current and coming success Pentadyne enjoys in the marketplace.”</font></div> <div style="MARGIN: 0in 0in 0pt"> </div> <div style="MARGIN: 0in 0in 0pt"><font size="2">Pentadyne has seen great recognition of late including:</font></div> <div style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"><span style="COLOR: red"><font size="2">·</font><span style="FONT: 7pt 'Times New Roman'">         </span></span><a href="http://pentadyne.com/site/2008-news/073008.html"><font size="2">Surpassing its primary competitor</font></a><font size="2"> to become the world’s most popular flywheel energy storage product</font></div> <div style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"><span style="COLOR: red"><font size="2">·</font><span style="FONT: 7pt 'Times New Roman'">         </span></span><a href="http://pentadyne.com/site/2008-news/082108.html"><font color="#800080" size="2">Ranking # 7</font></a><font size="2"> among energy companies on this year’s renowned Inc. 500 fastest-growth list</font></div> <div style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"><span style="COLOR: red"><font size="2">·</font><span style="FONT: 7pt 'Times New Roman'">         </span></span><font size="2">Being named a </font><a href="http://pentadyne.com/site/2008-news/090408.html"><font color="#800080" size="2">GoingGreen Top 100 company</font></a><font size="2"> by the AlwaysOn financial network</font></div> <div style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"><span style="COLOR: red"><font size="2">·</font><span style="FONT: 7pt 'Times New Roman'">         </span></span><font size="2">Winning the </font><a href="http://pentadyne.com/site/2008-news/090908.html"><font size="2">Vendor of the Year</font></a><font size="2"> award from the UPS division of Toshiba International</font></div> <div style="MARGIN: 0in 0in 0pt"> </div> <div style="MARGIN: 0in 0in 0pt"><font size="2">Says Mark Campion, Executive VP and CFO of Pentadyne, “These recognitions of our company’s success in the marketplace are echoed in the enthusiasm and financing commitments among our core investors in this latest financing round; they have thoroughly scrutinized our current business model and our forward-looking plans. Particularly in light of the current climate within venture capital, we are proud that they found Pentadyne to be an exceptional investment.”</font></div> <div style="MARGIN: 0in 0in 0pt"> </div> <div style="MARGIN: 0in 0in 0pt"><strong><font size="2">About Pentadyne Power Corporation </font></strong><br /> <font size="2">Pentadyne is the world’s leading manufacturer of flywheel energy storage systems used for energy recycling applications and to replace hundreds of lead-acid batteries used with large-scale UPS (uninterruptible power supply) systems. Pentadyne flywheels deliver an order of magnitude greater reliability than batteries, near-zero maintenance and have a footprint and lifecycle cost less than half that of batteries. Using 90% less power than other flywheels, this environmentally responsible system is sold by several of the world’s leading UPS manufacturers. An ISO-9001-certified company, Pentadyne designs and manufactures its products in Greater Los Angeles.</font></div> <div style="MARGIN: 0in 0in 0pt"> </div> <div style="MARGIN: 0in 0in 0pt" align="center"><font size="2"># # #</font></div> <div style="MARGIN: 0in 0in 0pt"> </div> <div style="MARGIN: 0in 0in 0pt"><strong><em><font size="2">Editors:</font></em></strong></div> <div style="MARGIN: 0in 0in 0pt"><font size="2">A company overview is at:</font></div> <div style="MARGIN: 0in 0in 0pt"><a href="http://www.pentadyne.com/site/company/overview.html"><font color="#800080" size="2">www.pentadyne.com/site/company/overview.html</font></a></div> <div style="MARGIN: 0in 0in 0pt"> </div> <div style="MARGIN: 0in 0in 0pt"><font size="2">Product details are at:</font></div> <div style="MARGIN: 0in 0in 0pt"><a href="http://www.pentadyne.com/specs"><font size="2">www.pentadyne.com/specs</font></a></div> <div style="MARGIN: 0in 0in 0pt"> </div> <div style="MARGIN: 0in 0in 0pt"><font size="2"><strong>Press Contacts:</strong></font></div> <div style="MARGIN: 0in 0in 0pt"><font size="2">Keith Field<br /> Vice-President of Marketing <br /> Pentadyne Power Corporation<br /> (818) 350-0370 x210<br /> Email: <a href="mailto:keith.field@pentadyne.com"><span>keith.field@pentadyne.com</span></a></font></div>

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Pentadyne Closes Financing Totaling $22M

2008-09-22T08:48:06-04:00

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