ElectraTherm has completed a $5.4 million funding round, bringing total funds raised since its inception in 2005 to almost $10 million. Participants in the most recent round were not named.
ElectraTherm’s enhanced waste-heat recovery technology improves energy efficiency alongside such applications as generator sets, biomass, geothermal and solar thermal. Over the last few months, the company successfully completed its first field test at Southern Methodist University, shipped several units for installation by year-end, and is expanding its capacity for additional production.
“We have received an incredible response to our technology worldwide – in the form of dealers, investors and customers,” said Steve Olson, ElectraTherm president, in a statement. “Deployed on a large scale, the ElectraTherm Green Machine has the capacity to make a significant contribution to reducing CO2 emissions and increasing energy security. On top of that, increasing efficiency is simply good business.”
ElectraTherm’s backers include Greener Capital Partners, a venture capital firm based in San Francisco.