GE Energy Financial Services, a unit of US-listed industrial conglomerate General Electric, has backed SustainX last year as part of the first tranche of money from its $200m Ecomagination corporate venturing fund.
SustainX, a US-based provider of batteries using compressed air, has raised $14.4m from seven investors as part of a planned $17m round, according to its regulatory filing.
GE Energy Financial Services, a unit of US-listed industrial conglomerate General Electric, last year said it had backed SustainX last year as part of the first tranche of money from its $200m Ecomagination corporate venturing fund.
Thomas Zarrella, chief executive of SustainX, said: “GE’s backing, alongside that of other investors…
