Anglo American Platinum led the round with a “major contribution” from its PGM Development Fund. The round took Primus Power’s fundraising total to $35m. It has also secured goverments grants totalling $20m.
The company’s zinc-based flow battery systems decouple instantaneous electricity demand from supply to improve the stability and security of the electric grid.
Primus said the funds will support this year’s customer shipments as well as help it expand its sales and customer support organizations.
Anglo American Platinum’s executive head of marketing Andrew Hinkly said, “The EnergyPod is a safe, low cost, power dense and ultra-reliable energy storage solution that installs rapidly.
“It is a differentiated product for mass deployment that integrates thoughtful design and utility-grade construction into a product that adds value at numerous locations along the electrical grid.
“This is a strategic investment for Anglo American Platinum. It is both good for business and for the environment.”
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