# FlexGen Power Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/flexgen-power-systems

- Industry: Oil & Gas
- Headquarters: Durham, US
- Website: www.flexgen.com
- Total disclosed funding: $276M
- Latest round: Series C (Jul 19, 2022)
- Investors on record: 5

## About

Based in North Carolina, US, FlexGen Power Systems, Inc. was founded in 2009 by founder Josh Prueher. Kelcy Pegler is the CEO of the company as of 2021. The firm creates and integrates storage systems as well as the software platform that makes energy transitions possible. It secured USD 25.5 million in series A venture capital investment in August 2015. The venture fundraising round was led by Denver-based Altira Group and includes investments from General Electric Ventures and Caterpillar Ventures. As of 2021, the company has raised a total of 5 funding rounds, including its latest funding in August 2021 for USD 150 million.

FlexGen has developed a software platform that allows energy storage owners to use a variety of power market strategies and combine storage and generation. Its platform integrates all levels of utility and microgrid projects, as well as physical energy storage systems (ESS) products, and provides remote operational support and preventative maintenance, as well as use case analysis and ESS sizing and configuration, allowing clients to effectively manage energy production and storage.

FlexGen created the FlexGen HybridOS, an energy management system that can automate the dispatch of energy storage, renewable energy, and conventional power generation to improve capabilities and minimize energy costs.

## Funding rounds

- Series C, Jul 19, 2022, $100M — Altira Group, Vitol
- Series B, Aug 25, 2021, $150M — Altira Group, Apollo
- Series A, Aug 30, 2015, $26M — Altira Group, Caterpillar Ventures, GE Ventures

## Investors

- Altira Group (https://capitalatlas.ai/funds/altira-group) — Series A, Series B, Series C
- Caterpillar Ventures (https://capitalatlas.ai/funds/caterpillar-ventures) — Series A
- GE Ventures — Series A
- Apollo (https://capitalatlas.ai/funds/apollo) — Series B
- Vitol — Series C