General Compression Completes Second Tranche Of Series-A Fundraising


General Compression Inc., a Massachusetts-based company developing a compressed-air energy-storage system that burns no fuel when generating electricity, has completed the second tranche of a $20.9 million Series-A fundraising after the commissioning and successful testing of a 30 kW proof-of-concept module of its patent-pending General Compression advanced energy storage (GCAES) technology.

The funds will allow the company to continue with the development of a commercial-scale GCAES module, according to Eric Ingersoll, CEO of the company.

SOURCE: General Compression Inc.

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