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Powerphase, which has developed a compressed air injection technology for gas turbines, has secured finance from investment firm Energy Impact Partners (EIP).
It marks the first institutional round of financing raised by Powerphase and will be used to drive international expansion of the company's patented product Turbophase.
Greentech Capital Partners served as the investment bank for Powerphase on the transaction.
Hans Kobler, chief executive of EIP, said: “EIP invests in the full life-cycle of an electron: from generation through transmission and distribution to consumption.