compressed air energy storage system News

General Compression Secures $54.5 Million in Series B Financing

General Compression, Inc. ("GC"), a Massachusetts company developing utility-scale, responsive, renewable power projects that feature a proprietary compressed air energy storage system, announced today that it has closed on the first tranche of a $54.5 Million Series B Financing. Funds from this investment round will be used to enhance the company's manufacturing capacity and to build a pipeline ...

Jun. 7, 2011

By General Compression

Ocean Wave Energy Company Receives DOE Boost for Energy Storage Technology

Oscilla Power, Inc is pleased to announce that it has been selected for a $1.1 million Phase II SBIR award from the US Department of Energy. This award will help Oscilla develop a novel underwater energy storage technology and investigate how large-scale farms of ocean wave energy devices can be best connected to the grid. This award will allow a continuation of work previously completed by ...

Jul. 23, 2020

By Oscilla Power, Inc. (OPI)

Electric Energy Storage Systems to Enhance Electric Grid Reliability and Support Expanded Renewable Energy Usage, States Frost & Sullivan

Electric energy storage systems are crucial for the further development and transformation of a range of sectors, including renewable energy, automotive, grid stabilization, smart grid, back-up power and portable devices. Big scale, reliable and durable electric energy storage technologies will enhance the usage and commercial attractiveness of intermittent renewable energy sources, such as wind ...

Apr. 17, 2012

By Frost & Sullivan

Compressed Air Energy Storage Will Reach $4.8 Billion in Annual New System Revenue by 2023

Driven by growing penetration of intermittent renewable energy, increasingly constrained grid conditions, and the need for investments in electricity infrastructure, compressed air energy storage (CAES) – a technology that has been commercially available for more than 30 years – is enjoying a surge of renewed interest. In Asia Pacific, Europe, and North America, new installations of ...

Dec. 6, 2013

By Navigant Consulting, Inc. (NCI)

Energy storage innovation showcase

Thank you, Ian Arbon, session chairman. And I’d like to thank the Electricity Storage Network, hosts of today’s conference - especially for providing an opportunity to showcase some of DECC’s low carbon innovation projects. I’ve come to you today straight from the launch of my Department’s Global Calculator, which we worked on in collaboration with Climate KIC, ...

Jan. 28, 2015

By Department of Energy and Climate Change