FlexGen Power Systems

{{Short description|Energy storage technology company}}

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{{COI|date=February 2021}}

{{primary|date=February 2021}}

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{{Infobox company

| name = FlexGen

| logo = FlexGen Primary Logo - Gradient.svg

| logo_caption =

| logo_upright =

| logo_alt =

| type = Privately Held

| industry = Energy Storage

| predecessor =

| founded = {{Start date and age|2009}} in Durham, North Carolina, U.S.

| founder =

| defunct =

| fate =

| successor =

| hq_location_city = Durham, North Carolina

| hq_location_country = United States

| area_served = Worldwide

| key_people = Kelcy Pegler (CEO)
Yann Brandt (CFO)
Pasi Taimela (CTO)

| products = FlexPack
SiteController
Fleet Manager
PowerCloud
FlexBidr
Digital Twin

| owner =

| num_employees =

| num_employees_year =

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| website = {{url|www.flexgen.com}}

}}

FlexGen is a United States energy storage technology company. The company is headquartered in Durham, North Carolina and was founded in 2009.

FlexGen is the developer of the FlexGen HybridOS energy management system, which is capable of automating the dispatch of energy storage, renewable, and conventional power generation to provide enhanced capability and lower cost of energy.[https://www.flexgen.com FlexGen HybridOS]

FlexGen originally designed energy storage products for the United States Military,[http://www.xconomy.com/texas/2015/08/18/battlefield-tested-houstons-flexgen-now-targets-oil-gas-market/ Battlefield-Tested, Houston’s FlexGen Now Targets Oil & Gas Market] these hybrid power systems were sold to the US Marine Corps, US Army, US Navy SEALs, and the Joint Special Operations Forces-Afghanistan. Systems that were fielded in those military branches showed at least 52% reduction in fuel consumption and an 80% reduction in generator runtime.[https://www.bloomberg.com/news/videos/b/88711636-7e6e-4260-8c26-335644941f9b Getting Fuel Supplies to Troops]

Venture Capital Funding

On August 3, 2015, FlexGen Power Systems completed a $25.5M Series A venture capital funding round.{{Cite web |url=https://www.oilonline.com/news/business-activity/flexgen-power-systems-secures-us255-million-financing |title=FlexGen Power Systems secures US$25.5 million in financing |access-date=2015-09-03 |archive-date=2015-08-19 |archive-url=https://web.archive.org/web/20150819104121/https://www.oilonline.com/news/business-activity/flexgen-power-systems-secures-us255-million-financing |url-status=dead }} Led by Denver-based Altira Group, the venture funding round also included investments from General Electric Ventures and Caterpillar Ventures.[http://www.bizjournals.com/houston/morning_call/2015/08/fresh-off-capital-raise-houston-energy-tech.html?ana=e_hstn_rdup&s=newsletter&ed=2015-08-04&u=jA6EnrDlU4uqk69NPJmaTYSQTqo&t=1438699677 Fresh off capital raise, Houston energy tech company aims to triple in size][http://www.caterpillar.com/en/company/innovation/caterpillar-ventures/news/flexgen-power-systems.html Caterpillar.com - FLEXGEN® POWER SYSTEMS ANNOUNCES $25.5 MILLION SERIES A FUNDING WITH ALTIRA GROUP, GE VENTURES, AND CATERPILLAR VENTURES]

On August 25, 2021, it was announced that Apollo Global Management Inc. invested $150M into FlexGen.

References

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