General Compression Gets $3M

5/12/10Follow @xconomy

General Compression,  a Newton, MA-based developer of technology for using compressed air to store energy from wind turbine systems, announced it has wrapped up another $3 million in Series A financing, bringing the round’s total to $20.9 million. The newest tranche comes from the Northwater Intellectual Property Fund, managed by Northwater Capital Management, a private investment firm with offices in New York, Chicago, and Toronto. Duke Energy and U.S. Renewables Group participated in the earlier close of the Series A round. In 2007, Wade profiled General Compression, which is developing a compressor system to increase the reliability of wind power, helping to better transmit stored energy from windmills to the power grid.

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