VC Update
- Calera, a developer of technology that turns CO2 into building materials, has received a $15 million private equity investment from coal producer Peabody Energy. The proprietary technology developed by Los Gatos, Calif.-based Calera converts CO2 released from power facilities, cement plants or refineries into carbon negative building materials. The Calera process also acts as a freshening system able to produce fresh water. The company recently completed a demonstration project near Moss Landing, Calif., which turns the emissions from a natural gas-fired power plant into synthetic limestone.
- HopeWell Junction, NY. SpectraWatt, which manufacturers photovoltaic cells for the solar industry, has raised $41.4 million in convertible debt to expand its manufacturing capacity. Investors included Goldman Sachs’ energy subsidiary Cogentrix Energy, Intel Capital and PCG Clean Energy & Technology Fund, the cleantech-focused investment fund of PCG Asset Management. SpectraWatt expects to ship it first batch of PV cells to customers during the second quarter of 2010.
- Boulder, Colo., TerraLUX, which makes LED solid-state lighting products, has raised $5.6 million in a first round of funding from Zurich-based Emerald Technology Ventures. Access Venture Partners was a returning investor.
