SustainX, a West Lebanon, NH-based provider of energy storage systems, has raised $4 million in an equity round of financing, according to an SEC filing. The firm says on its website that it has developed a system for storing electrical energy in the form of compressed air, providing a cleaner alternative to traditional energy storage systems such as batteries. The filing doesn’t specify the investors in the financing, but the firm’s website lists its backers as Polaris Venture Partners, of Waltham, MA, Boston’s RockPort Capital, the National Science Foundation, and Angeli Parvi, an angel investment group with a history of investing in Dartmouth College spinoffs.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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