Last week was an exciting one in cleantech, with lots of funding news and new relationships announced. Funding news was led by the US Department of Energy’s ARPA-E, which announced $130 million in 66 new R&D grants, many of which were made to small, privately held cleantech companies. Browse to ARPA-E’s profile to see who got funding.
Elsewhere in funding news, we saw two large venture equity investments last week, as both FriedolaTECH and Clean Line Energy Partners raised $40 million rounds.
FriedolaTECH, a German recycled plastics processor, raised its funding from Kleiner Perkins Caufield & Byers (KPCB) and Silver Lake Kraftwerk, the first co-investment by these two fund managers. A portion of the invested total did go to a share purchase from WHEB Partners, which remains an investor in FriedolaTECH, but the remainder will help the company expand its American division with a new facility in Greenville, South Carolina.
Clean Line Energy Partners a Houston-based developer of high-voltage direct current (HVDC) transmission projects to support renewable generation, raised its $40 million from new strategic investor National Grid, a major investor-owned electric and gas company active in the UK and the eastern US. Clean Line will use the funding to advance its current four transmission projects, which are focused on onshore wind energy resources in the United States.
Last week also saw an exciting exit in the efficient lighting space, as GE Lighting announced that it would acquire LED startup Albeo Technologies. Terms of the deal were not disclosed. Albeo is backed by Green Spark Ventures and Braemar Energy Ventures.
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