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

Wind And Solar Are Catching Up With Nuclear Power, Says Report

A new report from the Worldwatch Institute says nuclear energy's share of global power production is steadily shrinking. Meanwhile, renewables' share keeps growing.


Could New Desert Plan Spell The End Of California Wind Energy Development?

The California Wind Energy Association says it is disappointed with the draft Desert Renewable Energy Conservation Plan, which was recently released by state and federal agencies.


New U.S. House Bill Includes Wind PTC Extension

U.S. representatives have introduced the Bridge to a Clean Energy Future Act of 2014, which would extend the production tax credit (PTC) and other provisions through 2016.


Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.

Renewable NRG_id1934
Canwea_id1984
Future Energy_id2008