Xtreme Power, a Kyle, Texas-based company that engineers, manufactures and operates integrated power management and energy storage systems for use in renewable energy and micro-grid applications, closed a $29.5m financing round.
The investment was co-led by Bessemer Venture Partners, The Dow Chemical Company (through its venture capital group), and existing backers SAIL Venture Partners, POSCO ICT and SkyLake & Co.
In conjunction with the funding, Umesh Padval, a Partner with Bessemer Venture Partners, and Walter Schindler, Managing Partner at SAIL Venture Partners, have joined the company’s board of directors.
The financing will support Xtreme Power’s technology development, production expansion, and large-scale power projects.
FinSMEs
27/07/2010