Infinia Corporation, a Kennewick, Washington-based company, today announced that it has closed a $50 million Series B round of financing.The funds will be used to support the commerical launch of the company's Infinia Solar System product, which J.D. Sitton, Infinia's President and CEO, states, "[W]ill change the game in the solar power generation market." The Infinia Solar System combines Infinia’s free-piston Stirling engine with a dish-style solar concentrator to produce three kilowatts of grid-quality electric power. Infinia expects to start manufacturing and selling this product later in 2008.
The funding round announced today was led by GLG Partners. Other participants in this round were Wexford Capital LLC and previous investors Vulcan Capital, Khosla Ventures, EQUUS Total Return, Inc., Idealab and Power Play Energy, LLC. In addition, Infinia announced that John Small of GLG Partners will become a member of the company's Board of Directors.
Infinia previously announced investments of $3.5 million in February 2005 and $9.5 million in June 2007. For more information:
- Infinia: Home page
- Infinia Corporation Announces $50 Million Financing (press release)
- Infinia Corp. Lands $50 Million for Solar Power System (Seattle Post-Intelligencer)
- Infinia Corporation Secures $9.5 Million in Venture Financing (press release, June 14, 2007)
- Stirling Technology Company (Now Infinia) Signs Equity Investment Deal (press release, March 2, 2005)