Fenwick & West represented EtaGen, Inc., a manufacturer of Linear Generators to deliver onsite electric power to commercial businesses, in its $83 million Series C financing. Ten investors with deep knowledge in energy generation and distribution participated in the round. New strategic investors include American Electric Power (AEP), Centrica Innovations, Statoil Energy Ventures, KCK Group and Louis M. Bacon. Existing investors include Bill Gates and Khosla Ventures.
EtaGen will use the funding to scale its manufacturing and operations as well as develop its sales, marketing and service teams. More information about EtaGen’s $83 million Series C financing can be obtained from the company announcement.