Dresser-Rand Group Inc. (DRC:US), an equipment maker for oil and natural-gas producers, bought patents, trademarks and other intellectual property from Energy Storage & Power LLC for an undisclosed price.
The purchase covers technology associated with compressed air energy storage, Houston-based Dresser-Rand said in a statement today. The company is also retaining Michael Nakhamkin, owner of Energy Storage, as a consultant.
The acquisition will complement Dresser-Rand’s existing compressed air technologies and enable it to provide a full range of system sizes for customers, according to the statement. The systems use off-peak power to compress and store air. When released, the air drives a turbine to generate power.
It can provide backup power for intermittent renewable energy sources like solar and wind power, according to the statement.
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