AREVA Acquires Ausra

AREVA Acquires Ausra

Ausra Chairman and CEO Dr. Robert E. Fishman and AREVA Business Group Renewable Energies Senior Executive Vice President Anil Srivastava at Ausra headquarters shaking hands after announcing the acquisition.  Photo credit: Ausra

Today, France-based AREVA announced the acquisition of Ausra, a Mountain View, California-based provider of large-scale concentrated solar power (CSP) solutions for electricity generation and industrial steam production.  Terms of the acquisition were not disclosed. 

Ausra was founded in 2006 and had 70 employees in 2009.  According to Reuters, Ausra had raised $130 million in venture capital.  Investors included Khosla Ventures, Kleiner Perkins Caufield & Byers, KERN Partners, Generation Investment Management, and Starfish Ventures.

This acquisition launches AREVA’s new global solar energy business and reflects AREVA’s goals to become a global leader in concentrated solar power and diversify its renewables portfolio.  AREVA is currently the largest nuclear power company in the world.

AREVA's new Global Solar business unit will be operated out of Ausra’s existing Mountain View  headquarters and led by Dr. Robert E. Fishman, Ausra’s Chairman and CEO.

Anil Srivastava, AREVA Business Group Renewable Energies Senior Executive Vice President, said, “By acquiring Ausra, AREVA has taken a major step forward to achieve its strategic ambition in renewables. The Group intends to become the world leader in the CSP market thanks to a reliable, cost-effective product.”

Dr. Robert E. Fishman said, “Today is about making a strong company even stronger. With AREVA, Ausra is joining forces with one of the world’s global energy leaders. Combining AREVA’s financial and commercial strengths, and its energy expertise, with Ausra’s proven technology and experienced management team will help position AREVA for even greater success in the renewable and carbon-free energy industry.”

This acquisition is expected to close in the next few months, subject to customary regulatory approval. For more information:

Ausra Obtains $60.6 Million in Equity Financing

Ausra

Ausra, a Palo Alto, California-based company that develops and deploys utility-scale solar thermal power technology, recently announced it secured $60.6 million in preferred equity financing. This financing was led by KERN Partners and included participation from Generation Investment Management, Starfish Ventures, and Ausra’s founding investors Khosla Ventures and Kleiner Perkins Caufield & Byers.

"We are very pleased to have such prestigious investors join our team to assist Ausra in achieving its goals in the solar thermal energy market," said Bob Fishman, president, CEO and chairman of Ausra. "This round of financing will enable us to accelerate delivery of our technology to our customers."

"KERN Partners is excited to be investing in such a dynamic company that is poised to meet the growing demand for sustainable energy with its innovative and cost-competitive solar thermal technology," said Jim Nieuwenburg, general partner with KERN Partners.

Ausra said that it will use the funds from this financing for research and product development and commercial activities, including completing its 5 megawatt Kimberlina solar thermal power project near Bakersfield, California.  This will be the first power plant in North America to use Ausra’s core technology – the Compact Linear Fresnel Reflector (CLFR) solar collector and steam generation system. Ausra is also developing a 177-megawatt CLFR power plant for Pacific Gas and Electric Company in central California.

Some background on Ausra is available in the following video, which is an interview by Alternative Energy HQ of Dr. David Mills, Ausra’s Chief Scientific Officer and Founder.

For more information: