FlexGen is a United States-based energy storage technology company founded in 2009. Headquartered in Durham, North Carolina, the company specializes in the design and integration of battery energy storage solutions alongside a proprietary software platform known as HybridOS. This platform automates the dispatch of energy storage, renewable, and conventional power generation to optimize energy use and reduce costs.
Originally, FlexGen developed energy storage systems tailored for the U.S. Military, with deployments across multiple branches such as the Marine Corps, Army, Navy SEALs, and Joint Special Operations Forces in Afghanistan. These systems demonstrated significant operational benefits, including a 52% reduction in fuel consumption and an 80% reduction in generator runtime, highlighting their efficiency and impact.
FlexGen has successfully raised substantial funding to support its growth and innovation, including a $25.5 million Series A round in 2015 led by Altira Group, with participation from General Electric Ventures and Caterpillar Ventures. In 2021, the company attracted a $150 million investment from Apollo Global Management. Overall, FlexGen has raised more than $350 million in funding, reflecting strong investor confidence.
The company recently expanded its headquarters in Durham to enhance its capacity for preconfiguring, testing, and optimizing advanced energy storage hardware and software solutions. FlexGen remains focused on advancing the energy transition by delivering integrated energy storage systems that combine cutting-edge technology with operational expertise.
With approximately 230 employees and $48.3 million in revenue, FlexGen continues to play a leading role in the energy storage industry, helping its clients reduce costs and improve energy sustainability through innovative hybrid power solutions.