{"id":524893,"date":"2010-04-12T15:44:05","date_gmt":"2010-04-12T19:44:05","guid":{"rendered":"http:\/\/greenenergyreporter.com\/?p=7555"},"modified":"2010-04-12T15:44:05","modified_gmt":"2010-04-12T19:44:05","slug":"ifc-invests-1-5m-in-producer-of-rice-powered-electricity","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/524893","title":{"rendered":"IFC Invests $1.5M In Producer of Rice-Powered Electricity"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/cleantech.png\" width=\"8\" height=\"8\" alt=\"\" title=\"Cleantech\" \/><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/funding.png\" width=\"8\" height=\"8\" alt=\"\" title=\"Funding\" \/><\/p>\n<p>Husk Power Systems is close to securing a $1.5 million financing from the International Finance Corporation (IFC), the World Bank&#8217;s private investment arm. The funding is expected to be finalized at a meeting in May and follows last month&#8217;s $375,000 investment by the Acumen Fund.<\/p>\n<p><span id=\"more-7555\"><\/span>We first learned of Husk Power <a href=\"http:\/\/greenenergyreporter.com\/2010\/02\/renewable-energy-financing-green-presidents-and-rice-powered-electricity\/\" >from Lynn Tabernacki of the Overseas Private Investment Corp<\/a>., (OPIC), one of the company&#8217;s inaugural backers, with $750,000 invested in the company. The Shell Foundation, the philanthropic arm of Royal Dutch Shell, also put some money into the startup.<\/p>\n<p>Husk Power plans to use the new investments to deploy up to\u00a0100 of its  new plants across India over the next year, Reuters reports.<\/p>\n<p>The company, launched by a group of MBA students at the University of Virginia Darden School of Business, has developed\u00a0an inexpensive electricity-generation system that turns rice husks into biogas to fuel mini power plants.<\/p>\n<p>It&#8217;s unclear what equity stake the IFC will take in the company following its investment.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/GreenEnergyReporter\/~4\/jFoGdKMbLQE\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Husk Power Systems is close to securing a $1.5 million financing from the International Finance Corporation (IFC), the World Bank&#8217;s private investment arm. The funding is expected to be finalized at a meeting in May and follows last month&#8217;s $375,000 investment by the Acumen Fund. We first learned of Husk Power from Lynn Tabernacki of [&hellip;]<\/p>\n","protected":false},"author":2814,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-524893","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/524893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/2814"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=524893"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/524893\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=524893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=524893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=524893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}