Pentadyne Receives New Round of Financing

Pentadyne Power Corp. will use $22 million in new financing for expanding the company into new market and for sales and production of new existing products. The Chatsworth-based manufacturer of energy storage systems received the money, which included conversion of existing convertible ventures, from its existing investor base. “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,” said company President and CEO Mark McGough.