Monday, October 18, 2010

Ice Energy Raises $24M

Windsor, Colorado-based Ice Energy, a developer of energy storage technology, said this morning that it has raised $24M in a first close of a Series C financing round. The round came from TIAA-CREF, Energy Capital Partners, Good Energies, Sail Ventures and Second Avenue Partners. According to the company, the funding will go towards working and growth capital. Ice Energy's energy storage technology uses off-peak power to store energy for use during periods of peak power demand. Ice Energy explained that $4.5M of the funding came from TIAA-CREF, as part of a partnership with Good Energies. TIAA-CREF and Good Energies are co-investing in energy efficiency companies and green building technologies. More information »