ElectraTherm raises $2.6M for waste heat harvesters
ElectraTherm, a company that plans to sell a device that will convert waste heat from everyday processes into electricity, has raised a $2.6 million first round of funding, according to VentureWire.
A number of industrial and commercial-scale processes produce enough unwanted heat to warrant one of ElectraTherm’s devices. The company currently sells a 50 kilowatt unit, although it plans to build larger ones in the future.
The Carson City, Nev. company received the funding from venture firm Interlaken and angel investors. It plans to raise $5 to $8 million more in a second round early next year.
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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.