Solar company Infinia to absorb $75m financing

9 February 2010

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 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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Tags: solar

This story was published on Tuesday, February 9th, 2010 at 12:50 pm and is filed under North America, deals, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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