Prudent Energy Secures $29.5M From Investment Funds

Law360, New York (October 13, 2011, 6:54 PM EDT) -- Power storage provider Prudent Energy Corp. said Wednesday it had raised $29.5 million in funding from Vangoo Investment Partners, Idinvest Partners, Asia Clean Energy Ltd. and others to help drive down the costs of its battery systems and increase sales.

The company's latest round of funding was led by Japanese giant Mitsui & Co. Ltd., and included previous investors such as Draper Fisher Jurvetson and DT Capital Partners, Prudent Energy said in a statement.

The funding will go toward reducing the cost of the company's power storage...
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