BEIJING, March 2 /PRNewswire-Asia/ — Prudent Energy Inc. the leading manufacturer of the Vanadium Redox Battery Energy Storage System (VRB-ESS), has raised approximately $22million in Series C preferred shares. Northern Light Venture Capital led the round, which also included new investor Sequoia Capital China. DFJ and DT Capital returned as backers from the prior round.

Prudent Energy, the leading technology developer, manufacturer, and systems integrator of the vanadium redox flow battery (VRB-ESS), has secured $22 million Series C financing led by Northern Light Venture Capital, one of the most respected private investment firms in China. Other new investors in the over-subscribed round include Sequoia Capital China. Existing investors Draper Fisher Jurvetson and DT Capital Partners also participated. This new financing will fuel Prudent’s battery manufacturing operations, which relocated to Beijing last year, as well as drive the company’s steady growth into the U.S.A. and elsewhere.

Prudent Energy supplies the missing ingredient to power and telecom companies who know that renewable energy cannot be expanded, nor can smart grids be operated, without the successful balancing act of storing and releasing energy on demand. The VRB technology that Prudent is selling, reliably stores energy safely at room temperature with virtually zero emissions.

“We are thrilled that seasoned investors like Northern Light and Sequoia Capital believe so strongly in Prudent’s vision,” said Johnson Chiang, CEO of Prudent Energy. “Their support will help us expand our manufacturing capabilities and accelerate our product delivery whilst materially reducing our costs. Already this year we have delivered on nearly twenty of our kW class systems at ever decreasing costs. This capital will strengthen our development activities and presence in North America and allow us to pursue a global sales strategy that will include new initiatives in both China and the U.S.A”

Prudent holds patents for the VRB Energy Storage System and applications and is building on the proven field installations of the VRB technology which have operated in dozens of sites for many years. It utilizes the unique properties of the element vanadium to build an environmentally safe, electro-chemical means of storing and discharging energy in multi-megawatt ranges at long durations from any available power source, whether it is the utility grid, a renewable resource such as a wind or solar farm or a diesel generator. As a result, Prudent is delivering energy solutions that improve power quality and reliability, enabling large-scale penetration of renewable energy generation, and improving the efficiency of energy distribution across many parts of the world.