12 Apr '12, 7am

Market Says No to Brightsource’s Solar IPO: Earlier this week, I suggested that we were entering a spring full...

Market Says No to Brightsource’s Solar IPO: Earlier this week, I suggested that we were entering a spring full...

Earlier this week, I suggested that we were entering a spring full of glorious greentech IPOs . I was wrong. BrightSource, an IPO aspirant, just pulled its registration statement with the SEC, almost a year after registering, claiming that "the continued market and economic volatility are not optimal conditions for an IPO." It's less than happy news for BrightSource, its VC funders such as VantagePoint, DBL Ventures, DFJ, Alstom, et al., and the cleantech community as a whole. Google and NRG Energy were investors in the project. Rumors were rampant in the days before withdrawing the IPO that the company was having trouble making its book as it sought to raise up to $182.5 million in its initial public offering. BrightSource is in the massive-scale concentrating solar power (CSP) business, a technology which addresses a common refrain about the limitations of photovoltaic s...

Full article: http://www.greentechmedia.com/articles/read/Market-Says-N...

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