Overview
FlexGen Power Systems, Inc.(“FlexGen”), a leading PROVIDER of integrated services and software technology for energy storage solutions in the United States and around the world, announced on July 19, 2022, that it has raised $100 million in a Series C investment. The investment is mainly made by Vitol, the world’s largest independent energy trading company. The latest investment further solidifies FlexGen’s position as a leader in energy storage integration and will help it execute its large pipeline of projects in multiple regions.
“We are excited to have Vitol join our existing investors to help power our continued growth. It is clearer than ever that the future of energy relies on energy storage that is cost-effective, safe, and easy to manage.We are laser-focused on delivering the industry’s best software and integration services to our valued clients.”
“We are excited to have Vitol join our existing investors to help power our continued growth. It is clearer than ever that the future of energy relies on energy storage that is cost-effective, safe, and easy to manage.We are laser-focused on delivering the industry’s best software and integration services to our valued clients.”Kelcy Pegler
CEO of FlexGen
FlexGen Battery. Image by FlexGen Power Systems Inc.
Reasons of Investment
“We will not reach our carbon reduction targets without energy storage, which addresses the intermittency of renewables generation and helps to create a more stable grid for the future. FlexGen is the leader in energy storage solutions and we look forward to supporting the company’s international expansion through our global footprint, as well as providing battery optimization solutions for FlexGen’s customers,”
“We will not reach our carbon reduction targets without energy storage, which addresses the intermittency of renewables generation and helps to create a more stable grid for the future. FlexGen is the leader in energy storage solutions and we look forward to supporting the company’s international expansion through our global footprint, as well as providing battery optimization solutions for FlexGen’s customers,”R. Andrew de Pass
Head of Renewables
Vitol Inc.
The main reason for this investment is to support FlexGen’s continued development of energy storage. Because renewable energy generation is intermittent, energy storage is critical to ensuring consumers have steady and reliable access to electricity. HybridOS, FlexGen’s proprietary energy management software platform, integrates power generation with energy storage, which offsets the intermittent problems renewable energy generation brings to the grid.
Source: Vitol
