Active Power Raises $3.0M In Private Placement

Austin-based Active Power reports this morning that the firm has raised $3.0M in a private placement, where it sold 6.0 million shares of its common stock at $0.50 per share. The firm did not detail information about the sale, only saying that the financing would go towards working capital and general corporate purposes. Active Power is a developer of flywheel-based, uninterruptible power supplies (UPS).