Affiliate funds of Apollo Global Management are investing the cash in Caterpillar-backed energy storage software provider FlexGen.

FlexGen Power Systems, a US-based energy services provider backed by construction equipment maker Caterpillar, has secured $150m in equity financing from funds managed by affiliates of asset manager Apollo Global Management.

Founded in 2009, FlexGen offers energy management software, power electronics and integration services for utility-scale energy storage systems.

The deal comes six years after Caterpillar Ventures took part in FlexGen’s $25.5m series A round, which was led by investment firm, Altira Group and also backed by GE Ventures, the…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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