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

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

Renewable NRG_id1934
Canwea_id1984
BG 2015DblBox_id2032
Hybrid Energy Innovations 2015