Three solar-thermal companies have raised money in the past week in a sector that's showing life, despite a choppy investment environment.
The company uses a dish to concentrate sunlight onto a Stirling engine, which makes electricity. It intends to sell its 3-kilowatt devices to small-scale utility plants.
Infinia on Monday said that it raised $50 million to commercialize a large mirrored dish that turns out three kilowatts of solar power.
With the money, Infinia will be able to bring its Infinia Solar System to market late in 2008.
The company is negotiating with project developers who intend to use hundreds of the dishes in solar power plants in Spain and the southwestern United States, according to Infinia president J.D. Sitton.
The series B round was led by hedge fund GLG Partners and private equity firm Wexford Capital, and included prior investors Vulcan Capital, Khosla Ventures, EQUUS … Read more