in News Departments > FYI
print the content item

Energy-storage company LightSail Energy has raised $37.3 million in Series D funding, led by investor Peter Thiel. Khosla Ventures, which incubated the company and led LightSail's earlier rounds; Bill Gates; Innovacorp; and several other investors also participated in the round.

Founded in 2009, LightSail Energy applies thermodynamics to solve the problems of today's electrical grid. For instance, the lack of economical energy storage on a megawatt scale has limited the penetration of renewable energy, such as wind and solar, in many parts of the world, and has limited transmission grid capacity.

LightSail says its technology makes power available when it’s needed, not just when it’s available, as well as helps to manage the increasing demand for peak power, thus making the entire grid more reliable and more practical for erratic renewable sources of energy.

“This investment round will enable LightSail to bring its first grid-scale energy-storage products to market,” says Steve Crane, co-founder and CEO of LightSail Energy. “With the support of a truly extraordinary group of investors, LightSail is well positioned to tackle, once and for all, a problem that’s bedeviled the electrical industry for more than a century. We want to democratize energy - to enable renewable sources to supply energy on demand locally and at a lower cost than centralized fossil-fuel based generation.”



Trachte Inc._id1770
Latest Top Stories

Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.


Senate Committee Passes Bill With Two-Year PTC Extension

The Senate Finance Committee has voted on a tax extenders package, which includes both the production tax credit (PTC) and investment tax credit, and sent it to the floor.

WomenofWind_id
JLG_id1900
UEA_id1896
Acciona_id1907
AWEA_id1886
bonfiglioli_id1913