Ontario-based Temporal Power’s high-speed flywheel energy storage units are used by utilities and power generators to smooth out supply and balance the load of their output. Now the company has raised USD$10 million in Series B funding from Enbridge Emerging Technology and Northwater Intellectual Property Fund, a fund managed by Northwater Capital Management, reports Reuters.
General Compression has secured a USD$60 million investment which will partly go towards funding the company’s first grid-scale energy storage demonstration project, reports Recharge News. The 2MW compressed air energy storage (CAES) project, which is already underway in Texas, is aimed at storing surplus energy generated from wind power and is being backed by ConcoPhillips Company.
General Compression has also secured investment from Northwater Intellectual Property Funds, US Renewables Group, Duke Energy, Serious Change and the Wellford Energy Group.