Friday, October 22, 2010
FlexEnergy Buys Ingersoll Rand's Energy Systems Business
Irvine-based FlexEnergy, a clean technology developer which is developing systems which convert methane into clean power, has acquired the Energy Systems business of Ingersoll Rand. Financial terms of the buy were not disclosed. Ingersoll Rand's energy systems business develops microturbine technology. As part of the acquisition, Ingersoll Rand becomes a minority shareholder of FlexEnergy. Flexenergy develops technology which takes methane gas seep from landfills, coal mines, and elsewhere and converts that into usable power--and also prevents that methane, a powerful greenhouse gas, from escaping into the atmosphere.