Wednesday, May 19, 2010

Paragon Airheater Technologies Snags Funding

Corona-based Paragon Airheater Technologies, a developer of technology to reduce fuel consumption and carbon emissions in fossil fuel power generation plants, has raised a round of funding, according to Costa Mesa-based venture capital firm SAIL Venture Partners. Amount of the funding was not disclosed. According to SAIL, the investment came from the firm along with co-investor Arborview Capital. Paragon serves such companies as ExxonMobil, Chevron, DTE Energy, Duke Energy, Georgia Power, Shell, Edison, Mirant, Reliant Energy, and Entergy. Paragon said that the investment will help the company accelerate its development and delivery of its products.