SolarReserve Obtains $140,000,000 Series B Funding
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4c4db418-f1ff-4a87-842f-cb4fffe33cf2&Preview=1 -
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
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Venture Investor
Citi -
Venture Investor
Good Energies Inc. -
Venture Investor
PCG Clean Energy & Technology Fund
