Solar company Infinia to absorb $75m financing
US solar company Infinia is aiming to raise $75m of equity financing. In a regulatory filing, the company revealed that it has received $11.5m of the total so far, with investors including Texas private equity growth capital investor Equus Total Return, Connecticut private equity alternative energy investor Power Play Energy, and hedge fund asset manager GLG Partners.
Infinia is developing a form of technology to convert the sun’s rays into electricity. It differs from standard solar photovoltaic technology in that it catches solar power in a dish, creating heat, which drives a Stirling engine to generate power. The self-contained technology has a peak power output of 3MW, but can be scaled up to larger developments. The company is reportedly targeting a large scale commercial launch in July 2010.
Equus Total Return is a business development firm that trades as a closed-ended fund on the New York Stock Exchange, with net assets of $65.6m as of September 30 2009. Both Equus and Power Play Energy have invested in previous Infinia funding rounds.
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Private Equity News» By News Type» Deal News
Private Equity News» By PE Sector» Venture/Growth
Private Equity News» By Region» North America» United States
Private Equity News» By News Type» Deal News
Private Equity News» By PE Sector» Venture/Growth
Private Equity News» By Region» North America» United States
