ElectraTherm, Inc. announced the completion of additional funding totaling $5.4 million. The company has now raised nearly $10 million since its inception in 2005.
ElectraTherm’s waste-heat recovery technology improves energy efficiency alongside such applications as generator sets, biomass, geothermal and solar thermal. Over the last few months, the company successfully completed its first field test at Southern Methodist University, shipped several units for installation by year-end, and is expanding its capacity for additional production.
“We have received an incredible response to our technology worldwide–in the form of dealers, investors and customers,” said Steve Olson, President of ElectraTherm. “Deployed on a large scale, the ElectraTherm Green Machine has the capacity to make a significant contribution to reducing CO2 emissions and increasing energy security. On top of that, increasing efficiency is simply good business.”
“Electratherm provides clean, inexpensive electricity to any producer of waste heat, which is both abundant and cheap. In fact, it’s free fuel,” said Charles Finnie, ElectraTherm investor and Managing Partner of Greener Capital Partners, a venture capital firm based in San Francisco. “The payback on Electratherm’s Green Machine is extraordinary–often less than two years.”
The ElectraTherm Green Machine takes heat or pressure, and turns it into usable power via a patented technology called the Twin Screw Expander.
“ElectraTherm’s technology is unique, and customers worldwide are quickly discovering how easily they can hook a 5 foot by 5 foot Green Machine onto their waste heat source to produce clean electricity,” said John Davison, ElectraTherm board member. “This is a first-to-market, proven product that can increase energy efficiency immediately in industries such as geothermal, biomass, and oil and gas.”
In August, SB.com news editor Bart King interviewed ElectraTherm Senior Vice President and co-founder William Olson on Green Week in Review.
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