ElectraTherm, a company that plans to sell a device that will convert waste heat from everyday processes into electricity, has raised a $2.6 million first round of funding, according to VentureWire.
A number of industrial and commercial-scale processes produce enough unwanted heat to warrant one of ElectraTherm's devices. The company currently sells a 50 kilowatt unit, although it plans to build larger ones in the future.
The Carson City, Nev. company received the funding from venture firm Interlaken and angel investors. It plans to raise $5 to $8 million more in a second round early next year.