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Shell Invests In Energy Start-Up Company

Author: Source: Datetime: 2018-05-07 12:12:26
Royal Dutch Shell’s Corporate Ventures and GXP Investments invested $7.6 million in energy start-up company Axiom Exergy, extending its services to grocery stores and cold storage facilities.
According to a statement from a startup based in Richmond, California, this round of financing also includes WorldQuant Ventures LLC, SV Tech Ventures and Meson Capital Partners LLC. When power costs are low, Axiom's refrigeration battery freezes salt water tanks at night and then provides cooling service at high electricity prices. The company said it can reduce peak energy demand by 40%.
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