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.

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