Friday, August 04, 2006

The latest cleantech mega-deal: Ion America

According to today's PE Week Wire, solid oxide fuel cell developer Ion America has raised a $102mm Series D, plus $2mm in convertible securities. According to the same mention (based on regulatory findings), the post-money valuation on their 2004 $45mm Series C round was $114mm (no word on the valuation of this new round). This brings the company's venture funding to $165mm in total to date. Kleiner Perkins, Mobius and NEA are backers. We last saw news about Ion America this time last year... The company still appears to be in official stealth mode, without a public website.

[8/5 update: If it's in Silicon Valley, Matt Marshall knows about it -- read his coverage of the Ion America deal here...]

Other news and notes at week's end: More coverage of SolFocus and the solar concentrator space... Yet another example of the looming consolidation phase in the solar market... We don't talk about geothermal enough, so here's a good article to read on that market.


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