Ausra Inc., a solar thermal energy company, announced today that it has a $25.5 million equity funding facility from Khosla Ventures, Kleiner Perkins, Kern Partners, Generation Investment Management and Starfish.
Ausra’s raised over $100 million from these investors in the past, so this last $25.5 million equity funding facility might be a last shot at making the company work.
Ausra will put the money towards its new business plan, which it announced earlier in the year. Initially Ausra intended to be a power producer, but upon realising this plan would be too costly, it scaled back its ambitions. It now intends to simply sell the componets for solar thermal energy to businesses. (See this Greentech Media article for a full explanation.)
Ausra’s solar thermal technology reflects sunlight off mirrors to tubes filled with water. That water is boiled, once it becomes steam, it generates power. Here’s a graphical depiction from their website:
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