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...]
Rob Day is a Partner with Black Coral Capital, based in Boston. He has been a cleantech private equity investor since 2004, and acts or has served as a Director, Observer and advisory board member to multiple companies in the energy tech and related sectors. Rob was a co-founder of the Renewable Energy Business Network (www.rebn.org), a non-profit organization which was acquired in 2009 by the Clean Economy Network. The views expressed on this blog are those of Rob, not necessarily the views of any of his colleagues and affiliated organizations. Contact Rob at .(JavaScript must be enabled to view this email address).
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