25 Apr '11, 1pm

BrightSource Files for $250M IPO: A Closer Look: BrightSource Energy just filed for a $250 million initial pub...

BrightSource Files for $250M IPO: A Closer Look: BrightSource Energy just filed for a $250 million initial pub...

The big question is: Do public markets and institutional investors have the stomach for a low-revenue, non-profitable, capital intensive energy firm with a technology unproven at scale? And a tortoise problem? To recap: BrightSource (BSE) is a utility-scale solar thermal player with massive funding from private equity sources and U.S. DOE loan guarantees. BSE is using an air-cooled "power tower" architecture in which vast arrays of mirrors or "heliostats" focus sunlight at a central elevated bolier, producing steam and powering a turbine. Late last month Alstom, the French powerplant firm invested $201 million into BrightSource -- bringing the firm's total VC funding to $530 million. Separately, BrightSource has secured substantial sums for their flagship Ivanpah project. With a total project cost of $2,180 million, the US DOE Loan Guarantee program is to provide loans wor...

Full article: http://www.greentechmedia.com/articles/read/brightsource-...

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