Cleantech venture investment was down last week as companies raised just over $28 million across 5 venture deals. Perhaps giving investors pause was news that darling lithium ion battery maker A123 Systems‘ deal with its would-be new majority owner Wanxiang Group in fact would not go through, and the company instead filed for bankruptcy. Seeing an opportunity in the rubble was US-based industrial equipment and building efficiency leader Johnson Controls, which announced a bid to acquire A123′s automotive business and provide financing for the company’s continued operations during bankruptcy. All told Johnson Controls’ investment in the distressed battery maker is estimated at $197.5 million, should it go through.
Gridstore, a provider of efficient data center solutions based in Mountain View, CA, raised $12.5 million in its Series A round from GGV Capital and ONSET Ventures. The company intends to use the capital to expand its sales channels and accelerate the delivery of its data storage solutions.
In a bit of interesting news for the solar industry, SolarCity, a company that has established itself as a top solar installer focused on the residential and commercial market segments, announced its entry into utility-scale project development with a 14 MW PV project it intends to build for Kaua’i Island Utility Cooperative in Hawaii.
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