ElectraTherm Inc., a Carson City, Nev.-based developer of waste-heat recovery technology, has raised $5.4 million in new funding from undisclosed investors. It has now raised around $10 million in total funding.
PRESS RELEASE
ElectraTherm, Inc. (www.electratherm.com) today announced the successful completion of additional funding totaling $5.4 million. The company has now raised nearly $10 million since its inception in 2005.
ElectraTherm’s enhanced waste-heat recovery technology dramatically improves energy efficiency alongside such applications as generator sets, biomass, geothermal and solar thermal. Over the last few months, the Company successfully completed its first field test at Southern Methodist University, shipped several units for installation by year-end, and is expanding its capacity for additional production.
“We have received an incredible response to our technology worldwide – in the form of dealers, investors and customers,” said Steve Olson, President of ElectraTherm. “Deployed on a large scale, the ElectraTherm Green Machine has the capacity to make a significant contribution to reducing CO2 emissions and increasing energy security. On top of that, increasing efficiency is simply good business.”
“Electratherm provides clean, inexpensive electricity to any producer of waste heat, which is both abundant and cheap. In fact, it’s free fuel,” said Charles Finnie, ElectraTherm investor and Managing Partner of Greener Capital Partners, a venture capital firm based in San Francisco. “The payback on Electratherm’s Green Machine is extraordinary – often less than two years. I am excited to be involved with this remarkable company and its impressive management team.”
The ElectraTherm Green Machine takes heat or pressure, and turns it into usable power. ElectraTherm’s Twin Screw Expander technology represents an important innovation in responsible energy usage, enabling industrial customers around the world to generate more electricity without consuming additional fuel or creating more emissions – the very definition of energy efficiency.
“ElectraTherm’s technology is unique, and customers worldwide are quickly discovering how easily they can hook a 5 foot by 5 foot Green Machine onto their waste heat source to produce clean electricity,” said John Davison, ElectraTherm board member. “This is a first-to-market, proven product that can increase energy efficiency immediately in industries such as geothermal, biomass, and oil and gas.”
For more information about the ElectraTherm Green Machine, visit http://www.electratherm.com/products.html.
About ElectraTherm, LLC
ElectraTherm, Inc. delivers renewable energy solutions for a sustainable future, now. The company’s proven, patented Twin Screw Expander enables its line of energy generators to make electricity from waste and geothermal heat or pressure instead of fossil fuel. ElectraTherm’s fuel-free, emission-free and low-cost technology offers the industry’s shortest payback period on investment. For more information on ElectraTherm and its cleantech, green power products, please visit www.electratherm.com.