in News Departments > FYI
print the content item

Attleboro, Mass.-based General Compression Inc. has closed an initial round of funding for more than $5 million to accelerate the development of its dispatchable wind turbine system.

The dispatchable wind urbine system uses high-pressure pipes to collect and store energy. The system is made up of a compressed air wind turbine, a pipeline network that collects and stores compressed air, and a power plant of expanders and generators. By shifting the time when power is sold, a wind farm owner can sell power on peak at a higher price, be more compatible with the needs of the grid, and become eligible for capacity payments, the company says.

"By enabling wind farms to store and sell power at peak hours, General Compression will dramatically improve the profitability and market potential of wind power," says Don Hodel, a founding shareholder of General Compression.

According to David Marcus, General Compression's chief executive officer, the $5 million funding will help commercialize the company's technology.

"This round of funding is a tremendous vote of confidence by the investment community in General Compression's patented compression technology and the disruptive economics of dispatchable wind power," Marcus adds. "With these resources, we will continue to build out our team and execute our development plan."

IowaDeptEconDevel_id1863

Trachte Inc._id1770
Latest Top Stories

Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.


Senate Committee Passes Bill With Two-Year PTC Extension

The Senate Finance Committee has voted on a tax extenders package, which includes both the production tax credit (PTC) and investment tax credit, and sent it to the floor.

UEA_id1896
Acciona_id1907
WomenofWind_id
JLG_id1900
bonfiglioli_id1913
AWEA_id1886