Prudent Energy develops and integrates a patented Vanadium Redox Battery Energy Storage System (VRB-ESS®), a long-life flow battery for utility and commercial applications. Its VRB systems enable utilities to balance load, bridge generation, and regulate voltage and frequency with low maintenance. The company also sells or leases VRB systems and provides services to commercial onsite generators and telecom companies to reduce operating expenses and provide backup power. Led by CEO Johnson Chiang and based in Bethesda, MD, Prudent is targeting MW-class markets. The company raised an additional $29.5m in the reported financing. Proceeds will be used to continue system development and expand sales into Asia, Europe and North America. Prudent Energy is a Beijing, China- and Burnaby, Canada-based manufacturer of clean energy storage systems that controls patents for the Vanadium Redox Battery (VRB). The company’s VRB technology is designed to support and provide relief to the electric power grid. Prudent raised an additional $10m in venture capital within three months from JAFCO Asia, Mitsui Ventures, China Equity Links Partners and other investors as part of its Series C, bringing the total Series C to over $32m. Earlier in March the company announced $22m from Northern Light Venture Capital, Draper Fisher Jurvetson, Sequoia Capital China and DT Capital. The new capital will be used to increase manufacturing operations in China and expand the company’s presence in new markets. Prudent Energy is also opening US offices in the Washington, D.C. area.

Total raised

$40M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2011