Friday, April 27, 2007

Pentadyne Looks For $100M IPO On AIM

Chatsworth-based Pentadyne Power, a developer of flywheel-based energy storage systems, is planning to float an IPO on the AIM, according to reports. The firm, which is venture backed by Accera Venture Partners, DTE Energy Ventures, Nth Power, Rustic Canyon Ventures, and Sempra Energy, markets its systems to companies looking to provide back-up power and power stablization. London's Alternative Investment Market (AIM) has been increasingly popular with venture backed firms to achieve liquidity, with Oxnard-based Catalytic Solutions, Cerritos-based Vycon, and Torrance-based Enova Systems among the local firms that have gone public on the AIM in recent months.

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