Infinia Corporation, which is developing a unique solar power generation product, has closed a $50 million Series B financing round led by GLG Partners.
Other preferred stock investors included Wexford Capital LLC and prior investors Vulcan Capital, Khosla Ventures, EQUUS Total Return, Inc., Idealab and Power Play Energy, LLC.
The proceeds from the financing will be used to fund the commercial launch of the Infinia Solar System, which incorporates a free-piston Stirling engine with a dish-style solar concentrator to produce 3kW of AC power.
Infinia says its system is the world’s first solar power generation product suitable for automotive-scale manufacturing and deployment ranging from single units for end-users to thousands of units deployed in utility-scale solar power plants.
"This financing represents a very important turning point for Infinia," said J.D. Sitton, President and CEO of Infinia. "With the support of this outstanding investor group, the inspired and diligent effort of our team, and the commitment of our key supply-chain partners, we are clearly on track to begin manufacturing and selling our Infinia Solar System product later this year."
About Infinia Corporation
Infinia is a solar technology company preparing to commercialize its Infinia Solar System, a solar power generation product that converts concentrated solar energy into electricity. Since 1985, Infinia has been delivering free-piston Stirling engines and power systems to commercial companies and government agencies.
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