Principle Power takes $2.3M for clean energy development
Principle Power, a San Francisco company with offices in Seattle, has raised a $2.3 million seed funding made up of convertible debt to build and operate clean energy assets. The company issued a release on the news a week ago, which was recently discovered by VentureWire.
The company says the round was oversubscribed by more than 50 percent, with eight Keiretsu Forum investors joining. The funds will go toward efforts in offshore wind, solar and hydro.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.