What is eSolar?
Founded in 2007 and based in Burbank, California, eSolar specializes in Concentrating Solar Power (CSP) technology. Its proprietary solar collector system (SCS) is designed for modularity and scalability, aiming to achieve break-through cost reductions through advanced computer software engineering and a pre-fabricated form factor. The company's modular power tower plant-level solution, when coupled with solar receivers from technology partners, offers an efficient method for generating reliable, dispatchable, and cost-competitive solar-generated thermal energy. This technology is applicable not only for electricity generation but also for non-power applications such as enhanced oil recovery and industrial process heat.
How much funding has eSolar raised?
eSolar has raised a total of $229.8M across 6 funding rounds:
Unspecified
$10M
Unspecified
$130M
Private Equity
$35M
Private Equity
$20M
Private Equity
$12.8M
Private Equity
$22M
Unspecified (2008): $10M with participation from Google
Unspecified (2008): $130M led by Idealab, Google, and Oak Investment Partners
Private Equity (2009): $35M supported by Oak Investment Partners and Idealab
Private Equity (2011): $20M featuring GE Energy, Oak Investment Partners, and Idealab
Private Equity (2013): $12.8M backed by Oak Investment Partners
Private Equity (2013): $22M with participation from Oak Investment Partners
Key Investors in eSolar
Oak Investment Partners
Oak Investment Partners is a venture capital firm that provides investment advice through research, reporting, and simplifying financial information. They focus on delivering investment insights in straightforward terms for individuals looking to enhance their investment strategies.
Idealab
Idealab is a technology incubator and venture capital firm that invests in and develops innovative companies. They are known for their role in nurturing early-stage technology ventures, providing strategic guidance and capital to help them scale.
GE Energy
GE Energy, a segment of General Electric, is a global leader in energy technology and services. They provide a wide range of solutions for power generation, renewable energy, and grid infrastructure, indicating a strategic interest in advancing sustainable energy solutions.
What's next for eSolar?
The substantial enterprise-level funding and recent strategic investment indicate a strong market validation for eSolar's innovative approach to solar thermal energy. This capital is likely to fuel further research and development, enhance manufacturing capabilities, and expand market penetration for its CSP solutions. The company's focus on cost reduction and dispatchability positions it to address the growing demand for renewable energy sources that can provide consistent power output, potentially accelerating its growth trajectory and solidifying its market position in both power and industrial heat sectors.
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