Area served Worldwide Founded 2014 | Founder Josh Prueher (CEO) Headquarters Houston Type Privately held company | |
Products FlexGen Solid State GeneratorFlexGen Mobile MicrogridAdvanced Power Conversion Website flexgenpowersystems.com | ||
Rigzone talks to josh prueher ceo flexgen power systems
FlexGen Power Systems is a United States veteran owned and operated energy storage and conversion company. The company is headquartered in Houston, Texas and was founded in 2009. The company also has locations in Durham, North Carolina and Virginia Beach, Virginia.
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FlexGen Power Systems is the producer of the FlexGen Solid State Generator, a hybrid power system used by drilling contractors and E&Ps in the upstream oil and gas industry.
The FlexGen Solid State Generator uses energy storage, power conversion and controls to eliminate load transients associated with diesel, dual fuel, or natural gas engines. The FlexGen Solid State Generator has shown fuel savings of 15-25% and maintenance savings of 35-45%.
Originally designed for the United States Military, these hybrid power systems have been 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.
Venture Capital Funding
On August 3, 2015, FlexGen Power Systems completed a $25.5M Series A venture capital funding round. Led by Denver-based Altira Group, the venture funding round also included investments from General Electric Ventures and Caterpillar Ventures.
This represented a larger Series A funding round than Facebook and Uber combined. It is also the first time that GE Ventures and Caterpillar Ventures have ever completed a financing deal together.