Geothermal engineering firm ThermaSource raises $41.5M
Just as in the oil industry, drilling and engineering for geothermal projects is an expensive proposition. To help buy drilling rigs and develop its services, ThermaSource has taken a hefty funding of $41.5 million.
The Santa Clara, Calif. company employs 210 people, but plans on doubling in size by the end of this year.
Riverstone Holdings, US Renewables Group and Rustic Canyon Partners provided the funding. ThermaSource has taken $93 million to date, counting both equity and debt.
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Tags: co:thermasource, deal, inv:Riverstone-Holdings, inv:Rustic-Canyon-Partners, inv:US-Renewables-Group
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.