Wednesday, March 27, 2013

eSolar Raises $12.8M

Idealab-based solar energy startup eSolar has just raised $12.8M in a new funding, part of an ongoing $30M funding for the company, according to a regulatory filing by the firm. The funding--which included at least two prior investors, including Oak Investment Partners--is still in progress. Burbank-based eSolar is developing utility-scale, solar thermal power technology used for generating power on a large scale. No details of the funding have yet been announced by the company; the firm last announced a funding round in 2011. eSolar--like many other, American companies in the beleaguered solar power industry here--has been fairly mum about its activities over the last year. Solar power--once the darling of the clean technology industry--has seen an intense shakeout due to extremely low cost competition from Chinese manufacturers. More information »