Three solar co.'s landed substantial rounds, as did co.'s in bioplastic, batteries, biogas and other sectors not starting with B.
Big money still continued to flow into solar this week, with a substantial raise by Advent Solar.
And the acquisition by SV Solar of NuEdison that we broke last week turned out to be part and parcel of a formal Series A round. Details below.
This week, in cleantech/greentech deals:
- Advent Solar of Albuquerque, New Mexico raised a $70 million Series D round, led by ZBI Ventures, the private equity and venture investment subsidiary of Ziff Brothers Investments. New investors that joined the round included Sun Mountain Capital and Globespan Capital Partners, with existing investors Battery Ventures, EnerTech Capital, @Ventures, New Mexico Co-Investment Partners and Firelake Capital. The financing is to be used to expand the company's capacity from 25MW to approximately 70MW. The company makes thin silicon-based solar modules with back contacts for higher efficiencies and better aesthetics.
- Synthetic Genomics raised an undisclosed second round of financing on a post-round valuation of approximately $300 million, according to reports. The company has announced plans to research the sequence of genes in microbes within underground hydrocarbons such as oil and natural gas to find an organism that can make better alternative fuels. BP and other strategic investors participated in this latest funding. The company previously raised $30 million from Draper Fisher Jurvetson, DFJ Frontier, Biotechonomy and individual investor Alfonso Romo.
- Cereplast, manufacturer of proprietary bio-based renewable plastics, received $14.5 million in new capital through a private placement of common stock from a group of leading “green” institutional funds, including UBS Global Innovator Fund, Swisscanto Green Invest Fund, Fortis L Fund Equity Environmental Sustainability World, and Credit Suisse Future Energy Fund. The company intends to use the proceeds to expand manufacturing, and commercialize a new family of bio-based resins with applications outside of the foodservice and packaging industry.
- SV Solar, a Santa Clara, California-based manufacturer of flat plate internal concentrator solar modules, raised $10.2 million in Series A funding led by Bessemer Venture Partners. Some of the proceeds were used to acquire NuEdison, an angel-funded manufacturer of photovoltaic modules for use in solar electric systems (see NuEdison merges with SV Solar.)
- Norwegian zinc-air battery developer ReVolt raised a €10 million Series B round from existing investors. The company last raised an €7mm Series A in 2005, and plans on raising an €30mm round next year.
- Stirling engine startup Infinia raised a $9.5 million Series A round. Khosla Ventures, Vulcan Capital, EQUUS Total Return and Idealab participated in the round, which also included existing investor Power Play Energy. The company's technology has a number of applications, including solar power generation. As part of the transaction, Infinia also acquired another company, Stirling Cycles, for an undisclosed sum.
- Austria's Cycleenergy raised a €6.7 million round to support the company's biomass and biogas power plant build-out efforts in Europe. 3TS Capital Partners led the round, providing €4.3 million, and founding shareholder Ventacc provided the other 2.4mm. The company eventually expects to raise over 100 million in equity and debt financing.
- Pegasus Capital Advisors acquired a majority stake in LED Effects, a Sacramento, California–based provider of LED lighting design and engineering. No financial terms were disclosed.
Got deals? Contact us.
Browse previous dealflow roundups here.
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