# Primus Power Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/primus-power

- Industry: Energy Storage & Batteries
- Headquarters: Hayward, US
- Website: www.primuspower.com
- Total disclosed funding: $92M
- Latest round: Series E (Mar 22, 2017)
- Investors on record: 7

## About

Primus Power Corporation specializes in innovative long-duration energy storage solutions, utilizing advanced zinc bromide flow battery technology for sustainable energy management across various sectors.Primus Power Corporation, founded in 2009, is based in Hayward, US. The company focuses on energy storage solutions, particularly through zinc bromide flow batteries. It has undergone a Series E funding round, raising USD 32 mn on March 22, 2017, led by Matador Capital Partners and Success Dragon International Holdings Limited, with participation from returning investors including Anglo American, DBL Partners, and I2BF. The latest total amount raised by the company is USD 32 mn, along with a current valuation of USD 154.70 mn.Primus Power Solutions specializes in long-duration energy storage solutions, primarily through their zinc bromide flow battery technology. This innovative product offers a reliable and fade-free energy storage option, designed to support the smart grid and facilitate the integration of renewable energy sources. The flow battery provides stable performance with a lifespan of 20 years, enabling daily cycling without degradation, making it ideal for various applications. Primus Power targets a diverse clientele, serving sectors such as industrial, commercial, utilities, and renewable energy organizations. Their products are marketed in various geographical regions, with a focus on North America, Europe, and Asia, catering to customers seeking sustainable energy management solutions.Primus Power's revenue model is structured around direct sales to businesses and organizations requiring energy storage solutions. The company engages in business-to-business transactions, offering tailored partnerships to clients that include utilities and large commercial enterprises. Their flagship product, the zinc bromide flow battery, is offered through a direct sales model, allowing for customized pricing plans based on client needs and system specifications. Transaction structures may include initial sales followed by ongoing service agreements to ensure optimal performance of the battery systems. While specific pricing details are not disclosed, the emphasis on long-term contracts aligns with the company's focus on providing durable, fade-free energy solutions, designed to deliver significant cost savings and reliability to its users.Primus Power Corporation aims to enhance its product offerings with upcoming innovations in energy storage technology. The company plans to expand into new markets, particularly targeting regions in Europe and Asia by 2025. The recent funding of USD 32 mn from the Series E round will support these initiatives, enabling the development of new battery models and increasing their operational capacity to meet growing demand.

## Funding rounds

- Series E, Mar 22, 2017, $32M — Anglo American, DBL Partners, I2BF, Matador Capital Partners, Success Dragon International Holdings Limited
- Series D, Jul 28, 2015, $25M — Chrysalix, Anglo American, DBL Partners, I2BF
- Series C, Feb 4, 2014, $20M — Kleiner Perkins, Chrysalix, Anglo American, DBL Partners, I2BF
- Series B, May 31, 2011, $11M — Kleiner Perkins, Chrysalix, DBL Partners, I2BF
- Series A, Sep 9, 2009, $4M — Chrysalix

## Investors

- Chrysalix (https://capitalatlas.ai/funds/chrysalix) — Series A, Series B, Series C, Series D
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series B, Series C
- DBL Partners (https://capitalatlas.ai/funds/dbl-partners) — Series B, Series C, Series D, Series E
- I2BF (https://capitalatlas.ai/funds/i2bf) — Series B, Series C, Series D, Series E
- Anglo American — Series C, Series D, Series E
- Matador Capital Partners — Series E
- Success Dragon International Holdings Limited — Series E