Energy Ventures III invests in Direct Drive Systems
California-based Direct Drive Systems Inc. has secured a B Round financing of USD 12 million lead by Energy Ventures III.
Direct Drive Systems,established in 2005, manufactures high speed permanent magnet motors and generators up to 8MW that have applications in a variety of industries including compression and pumping. Its highly efficient variable speed motors and generators, which can be directly coupled to turbo machinery without the need for a gearbox, are smaller, lighter and less maintenance intensive than conventional machinery.
Direct Drive Systems is a member of the Calnetix Group of Companies which also includes Calnetix (high speed motors and generators), Vycon (energy storage flywheels),
Turbogenix (ORC) waste heat recovery generators) and Elliott Microturbines (high speed micro turbines).
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| Fund | Energy Ventures III Argentum share 6% |
| Portfolio Company | Direct Drive Systems |
| Date of Transaction | 2008-01-21 |
| Transaction | Finance round |
| Seller | |
| Buyer | Energy Ventures III |
| Size of Transaction | USD 12.0m |
| Ind. Focus | Industrial |
| Geography | USA |
| Stage | Venture |