BrightSource Energy Secures $150,000,000 Series D Funding Round
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b9e39c1c-4c96-4635-ab11-020389df2db5&Preview=1 - Date
5/20/2010 - Company Name
BrightSource Energy - Mailing Address
1999 Harrison Street Oakland, CA 94612 - Company Description
Bright Source Energy develops utility-scale solar power plants using high-temperature solar thermal technology that concentrates sunlight and converts the resulting heat into electricity. In its prior incarnation 20 years ago as Luz Inc., this team built the largest solar power plants in the world, installing over 350 megawatts of solar thermal generation capacity in Southern California in the 1980s, plants that are still in operation today. - Website
http://www.brightsourceenergy.com - Transaction Type
Venture Equity - Transaction Amount
$150,000,000 - Transaction Round
Series D - Proceeds Purposes
The additional financing will be used to support BrightSource’s 2,610 megawatts in contracts with Pacific Gas and Electric Company (PG&E) and Southern California Edison to build 14 solar power plants in the US southwest by 2016. The funds will also be used by BrightSource to further its international expansion plans. - M&A Terms
- Venture Investor
VantagePoint Venture Partners - Venture Investor
Morgan Stanley Venture Partners - Venture Investor
Draper Fisher Jurvetson - Venture Investor
Undisclosed
