Primus Power Gets A $20M Jolt For Grid-Scale Energy Storage

By Jonathan Shieber.  New reg­u­la­tions in Cal­i­for­nia are set to open up the mar­ket for large-scale ener­gy stor­age and bat­tery tech­nol­o­gy devel­op­er Primus Pow­er has just raised charge into the fray. The Hay­ward, Calif.-based bat­tery start­up has raised $20 mil­lion for a new round from strate­gic investor Anglo Amer­i­can Plat­inum through its Plat­inum Group Met­als Devel­op­ment Fund. Pre­vi­ous investors Chrysal­ix Ener­gy Ven­ture Cap­i­tal, Klein­er Perkins Cau­field & Byers,I2BF, and DBL Part­ners have com­mit­ted anoth­er $15 mil­lion to the com­pa­ny over two pre­vi­ous rounds of funding.

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