This mod adds a new chest: the Compression Chest.

Images: http://imgur.com/a/LozhP

Information:
Stores a virtually unlimited number of one item type
Chest only has one slot
Takes power to insert and remove items from the chest (configurable at the top of control.lua if you think it's too powerful as is)
Power is provided by the Compression Power Pole - it has a 5x5 range centered on the pole
Multiple chests can be hooked up to multiple power poles
To get the number of items stored in a Compression Chest: mine it
To fill your inventory with the items it has stored: mine it while holding the item type it's storing
The chests can't compress items with a stack size of < 3
The chests will maintain 2/3rds of a stack of the item type in the one slot