Grid-scale energy storage company Primus Power has raised $11 million in new funding. The funding was led by DBL Investors and I2BF Global Ventures, while existing investors Kleiner Perkins Caufield & Byers and Chrysalix Energy Venture Capital also participated in the fundraising.
Primus plans to use the proceeds to support development and commercialization of its low cost, power-dense, distributed storage technology. The company previously received grants from the U.S. Department of Energy, Advanced Research Projects Agency – Energy and the California Energy Commission.
Click here for the release from Business Wire.