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BrightSource raises $80 million

Posted By Viva Sarah Press On October 29, 2012 @ 12:00 am In | No Comments

BrightSource Energy has raised over $80 million in a financing round led by Alstom SA and VantagePoint Capital, with investments also coming from Draper Fisher Jurvetson, CalSTRS, DBL Investors, Goldman Sachs, Chevron Technology Ventures and BP Ventures. The Israeli company will use the proceeds to expand operations.

“With these funds we will continue to build solar power plants for our US customers, while significantly increasing our presence around the globe,” said BrightSource CEO John Woolard.

BrightSource was founded in 2004 in Israel and moved its headquarters to California in 2008. The company – which designs, develops and deploys concentrating solar thermal technology to produce high-value electricity and steam – still has development and testing centers in Jerusalem and in the Negev.

As part of the latest financing round, BrightSource and Alstom have expanded geographic partnerships to build solar thermal power plants in India and Australia.

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