eSolar Gets $40M From GE

Burbank-based eSolar, the developer of concentrating solar thermal power technology, said today that it has inked a strategic investment from GE Energy, worth up to $40M. According to eSolar, the deal came along with a licensing agreement with GE Energy. Paul Browning, President and CEO of Thermal Products for GE Energy, joins the company's board as part of the funding. The firm said the deals will move its technology "to the next stage." eSolar develops concentrating solar power technology used for utility-scale energy generation. More information »