General Compression, SustainX to merge as GCX Energy Storage

 General Compression, SustainX to merge as GCX Energy Storage

General Compression and SustainX, both fuel-free compressed air energy storage (CAES) technology developers, have entered into a letter of intent to merge their businesses into a new entity, GCX Energy Storage.

By combining CAES technology, GCX Energy Storage will offer a market disrupting long-duration energy storage solution at a cost per kilowatt-hour stored.

"Unlike other energy storage technologies, our ability to optimize power and energy and provide fuel-free long-duration storage (10-200 hours) should enable GCX to firm renewables, economically solve multiple grid related problems, and address transmission constraints. We believe a strong market exists for low-cost and long-duration energy storage in Asia, North America, and Europe,” said Joe Cofelice, chief executive officer (CEO) of General Compression.
Cofelice and Tom Zarrella, CEO of SustainX, will remain active at GCX Energy Storage. Cofelice will become the CEO of the combined entity, while Zarrella will assume a Board of Director role.

The merger is subject to certain conditions and approvals.

Subscribe to the Power Engineering enewsletter

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...