More good funding news for compressed air

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.

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