The company just completed a private stock placement that raised $14 million. The funds will be used to "grow the business," according to its press release.
There's no doubt that the rush for everything "green" has rekindled interest in Active Power. Since the system requires no batteries -- with their environmentally unfriendly lead acid makeup -- there's substantial benefit for the environment. Of course, the only data centers that could benefit from the system must include generator backup. Active Power also sells systems with generators fully integrated. Active Power says it has 1,600 flywheel systems in place and cites health care, data centers, and government applications among its product's usage.