SustainX Secures $4M Financing

8/12/09

SustainX, a West Lebanon, NH-based provider of energy storage systems, has raised $4 million in an equity round of financing, according to an SEC filing. The firm says on its website that it has developed a system for storing electrical energy in the form of compressed air, providing a cleaner alternative to traditional energy storage systems such as batteries. The filing doesn’t specify the investors in the financing, but the firm’s website lists its backers as Polaris Venture Partners, of Waltham, MA, Boston’s RockPort Capital, the National Science Foundation, and Angeli Parvi, an angel investment group with a history of investing in Dartmouth College spinoffs.

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