Tag Archives: Foundation Capital

The Week In Green Energy: During Summer Doldrums Renewable Energy Funding Heats Up

NEW YORK - JULY 6: A girl runs through a water fountain to cool off on July 6, 2010 in the Brooklyn borough of New York City. The National Weather Service has issued a heat advisory for parts of the Northeast, mid-Atlantic and parts of Michigan and Kentucky with temperatures in some areas predicted to reach 100 degrees. (Photo by Ramin Talaie/Getty Images)

The sweltering heat that has hammered the East Coast for the better part of the week did not dry up the renewable energy deal flow, as some developers managed to clinch crucial funding. And as is often the case these days — especially in the cleantech and renewable energy sectors — Washington was the de facto deal maker. Hence, as we headed into the Fourth of July weekend, President Obama announced some $2 billion in Department of Energy loan guarantees supporting solar developers.

Of the $2 billion announced by the President, Spanish company Abengoa Solar got $1.45 billion for the construction of the 250 megawatt Solana Concentrating Solar Power (CSP) plant in Arizona. Colorado-based start-up Abound Solar also scored a $400 million guarantee to scale production of its thin-film, photovoltaic modules from a current 67 megawatts to nearly 1 gigawatt over the next three years. Continue reading The Week In Green Energy: During Summer Doldrums Renewable Energy Funding Heats Up

Silver Spring Eyes IPO, Morgan Stanley, Jefferies & Co. Underwriters

Silver Spring, the SmartGrid software developer, which has raised $275 million in venture capital since its 2001 launch, is prepping for a likely Initial Public Offering (IPO). Continue reading Silver Spring Eyes IPO, Morgan Stanley, Jefferies & Co. Underwriters

Silver Spring Raises $100M in New Financing

Smart grid developer Silver Spring Networks has raised $100 million in funding, the company announced in a release posted this morning on its Web site, bringing the total amount raised by the company to $275 million.

Redwood City, Calif.,- based Silver Spring closed the financing last Friday with the following investors on board:? Google Ventures, Foundation Capital, Kleiner Perkins Caufield & Byers, and Northgate Capital.

Silver Spring’s latest funding effort comes as utilities, backed by $3.4 billion in Department of Energy subsidies, are rolling out a growing number of smart?grid test projects. Continue reading Silver Spring Raises $100M in New Financing