The Week in Cleantech: September 9-15
Cleantech startups cleaned up this week, with a number of venture rounds closed. Enlighted, Recovery Technology Solutions, Isotrak, Plaxica, Space-Time Insight and Engineered Carbon Solutions all raised venture rounds. In addition, SolarCity received $124 million in Project Finance from Direct Energy and others to finance commercial and industrial solar projects. On the IPO front, SunEdison formalized plans to spin off its semiconductor manufacturing unit via a $250 million IPO. SunEdison Semiconductor would trade under the former MEMC Electronic Materials’ symbol of WFR. The unit reported $917.5 million in revenue in 2012.
Jumping back to venture financing, Enlighted, a California-based provider of lighting control systems for energy management applications, raised $5 million from EDBI to help scale its global operations and bring its solutions to Singapore and other Asian markets. Recovery Technology Solutions, a Minnesota-based developer of extraction and recycling of asphalt projects, raised $16.5 million from US Renewables Group. Space-Time Insight, a California-based provider of situation intelligence software to utilities, O&G, telecom and transportation companies, raised $20 million in Series A funding from EnerTech Capital , Novus Energy Partners , Opus Capital Ventures and Zouk Capital to take its services to new markets in Europe and Asia. Lastly, Plaxica, a UK-based developer of second generation PLA polymers, received a £8 million Series C round from Imperial Innovations, NESTA and Invesco Perpetual.
Read on below for more of the week’s deals, and we hope you’ll request an invitation for this year’s Global Cleantech 100 Gala & Summit | October 9-10, 2013 | Washington, DC. See you there!