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Massachusetts-based startup General Compression secured part of a $54.5 million Series B financing for the development of its emerging power storage concept.
The five-year-old company is developing a technology for storing unused energy from wind farms for activating air compression. The company said it is planning to spend on manufacturing capacity in response to possible orders.
Beacon Power Corporation (Nasdaq:BCON), a leading provider of advanced products and services to support a more stable, reliable and efficient electricity grid, announced that it has entered into a collaboration and development agreement with a subsidiary of the Gaelectric Group of Ireland. Gaelectric is a significant wind developer in the Republic of Ireland, Northern Ireland and Montana.
IRISH wind energy storage company Gaelectric has signed a collaboration and development agreement with US flywheel energy storage firm Beacon Power that could see flywheel storage solutions deployed to provide short-term back-up electricity for wind farms in the United States and Ireland.