Attleboro Mass.-based General Compression, a wind power company, announced an initial $5 million round. Investors include Chestnut Capital and Booner Capital. The company plans to use the money to build out the team and execute on its plan.
General Compression aims to make wind energy available on demand. The company markets a Dispatchable Wind Turbine System, which has three components: 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, the wind project can sell power on peak at a higher price, be more compatible with the needs of the grid, and become eligible for capacity payments. According to the company, this solution will double the profitability of wind farms.
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