SolarReserve Obtains $140,000,000 Series B Funding

  • Feed Type
  • Date
    9/16/2008
  • Company Name
    SolarReserve
  • Mailing Address
    2425 Olympic Blvd. Santa Monica, CA 90404
  • Company Description
    SolarReserve was formed to solve two of the fundamental barriers of renewable energy: scalability and storage. Unlike hydroelectric, geothermal, biomass, and other renewable energy technologies that use limited renewable fuel sources, SolarReserve’s power plants draw their heat from the sun – earth’s ultimate source of clean energy. And unlike wind and photovoltaics, SolarReserve’s power plants can deliver power whenever it is needed, either 24 hours per day or only during “peak” demand. By overcoming these two key barriers, SolarReserve enables utility-scale, clean, renewable electricity generation.
  • Website
    http://www.solar-reserve.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $140,000,000
  • Transaction Round
    Series B
  • Proceeds Purposes
    Funding will support the development of large scale solar energy projects in the US and internationally, each project capable of providing electricity for up to 100,000 homes.
  • M&A Terms
  • Venture Investor
    Citi
  • Venture Investor
    Good Energies Inc.
  • Venture Investor
    PCG Clean Energy & Technology Fund

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