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General Compression Adds $5.5M To Series B

2011-09-06
Previous investors include Northwater Capital, US Renewables Group, Duke Energy Corp. and Serious Change.
NEWTON, According to SEC filings, General Compression Inc. has raised its Series B round from $54.5 million to $60 million.

According to published reports, the filing with the U.S. Securities and Exchange Commission did not disclose the names of the 23 backers in this latest tranche of its B round, it did say in a press release associated with the first tranche, worth $20.4 million, that investors included Toronto-based Northwater Capital Management Inc., US Renewables Group of Santa Monica, Calif., Charlotte, N.C.-based Duke Energy Corp. and Serious Change LP.

Founded in 2006, General Compression was launched with a vision of creating Dispatchable Wind to integrate low-cost bulk storage with wind farms to eliminate the issues of intermittent renewable power generation. General Compression has made patent-pending advancements in the fields of isothermal compression and expansion to provide utility-scale storage for both renewable and conventional electricity sources.
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