Monday, January 28, 2013

Demand Energy Networks Gets $2.4M

Liberty Lake, Washington-based Demand Energy Networks, a developer of energy storage devices for the utility industry, has raised $2.42M out of a $3.0M round, according to a regulatory filing by the firm. Source of the funding round was not announced by the company. According to the filing, the round came in the form of debt and included 10 investors. Demand Energy is developing systems for utility and commercial customers to store energy from solar, wind, and other power sources for use during demand peaks. The firm is led by Dave Curry, the former President and CEO of World Wide Packets; Curry's co-founder, Brett Turner, is also from World Wide Packets. More information »