Solar thermal startup Ausra has been on a roll over the past few months. Starting with an announcement that it had raised $40 million last September, the company followed up with news of a 177 megawatt project and plans to build a manufacturing facility.
Now the company has taken on $30 million more in venture debt and is looking for a $15 million follow-up from prior investors Khosla Ventures and Kleiner Perkins Caufield & Byers, according to CNET’s Matin LaMonica, who spoke with a company executive at a New York conference.
The next full round of funding will be between $100 and $150 million, according to the same exec, vice president Glen Davis. The company will also need to raise project financing separately for its utility projects.
The CNET article didn’t disclose who provided the debt. We’ve contacted a company spokesperson, and will update with further details, if available.
Update: Still no word on who provided the debt, but the company confirmed the amount and said it plans to raise its next full funding round in the third quarter of this year.
2 Comments
-
Cynic said:
Wow, it’s amazing that a company with worthless technology and with no demonstration of their technology can raise this much money on the basis of bogus promises. They are at least 10 years behind Solel.
-
Craig said:
Ausra are going to be building a 177MW unit for PG&E. PG&E are not going to enter into a contract with Ausra if the technology is ten years behind the competition. Also I haven’t heard of Solel being able to store there heat for 16 hours or so like ausra is going to be doing. Hey cynic you don’t work for Solel do you?
