Tuesday, October 28, 2008

Ice Energy Gets $33M For Energy Storage Technology

Fort Collins, Colorado-based Ice Energy said today that it has raised $33M in a first tranche of Series B funding, focused on utility-scale distributed energy storage projects. Ice Energy said the funding round was led by Energy Capital Partners, and provides for up to $150M in additional project capital for energy storage projects using its technology. Ice Energy develops technology for storing energy during off-peak hours to level grid loads. Ice Energy's technology is used in air conditioning, and uses off-peak energy to create ice--which is later used for air conditioning during peak hours. More information »