Wednesday, May 16, 2007

Ice Energy Secures $25M in Series A Financing

Colorado-based energy storage technology firm Ice Energy Inc. has generated $25 million in Series A preferred stock funding, the company reported Wednesday. New York City-based investment firm Goldman Sachs & Co. led the venture capital round, with Good Energies, Second Avenue Partners and Sail Venture Partners also participating. Ice Energy said the financing will fund continued growth in the areas of product development, manufacturing, business development and marketing. Headquartered in Windsor, Colo., Ice Energy has developed a cooling unit known as Ice Bear that uses off-peak electricity to make and store ice. This ice is then used during daytime hours to cool the air-conditioning refrigerant. More information »