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Dresser-Rand Buys Patents From Energy Storage & Power

July 3 (Bloomberg) -- Dresser-Rand Group Inc., 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.

To contact the reporter on this story: Andrew Herndon in San Francisco at aherndon2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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