Infinia catches $9 million |
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Infinia catches $9 million
Infinia photo
Infinia Corp. of Kennewick, Wash., which is working on dish technology to convert the sun's rays into electricity, has raised $9 million million in new debt-and-equity funding from existing investors. Paul Allen's Vulcan Ventures invested $2.6 million as part of the round, said Infinia CEO J.D. Sitton.
Infinia's technology is different from a standard photovoltaic panel. It uses a dish to concentrate sunlight, creating heat that drives a Stirling engine and generates power. Sitton said Infinia plans an "early commercial launch" of its solar dish in January with large scale-commercial launch in July 2010.
Sitton said the company has solar and renewable energy developers lined up as customers, but declined to identify them. Infinia has 150 employees, most of them in Kennewick with others scattered at "six or seven" offices around the world, Sitton said.
Infinia got some debt financing earlier this year and a $50 million investment last year. Investors include Vulcan, venture capitalist Vinod Khosla, and others.
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John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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