Ausra Secures US $60.6M in Funding | Renewable Energy News Article

California, United States [RenewableEnergyWorld.com] Ausra Inc. announced that it has secured US $60.6 million in its latest preferred equity financing. Proceeds from Ausra's financing will fund the company's research and product development and commercial activities. These activities will include the completion of its 5-megawatt (MW) Kimberlina solar thermal power project near Bakersfield, California, the first power plant in North America to incorporate Ausra's Compact Linear Fresnel Reflector (CLFR) solar collector and steam generation system.

"We are very pleased to have such prestigious investors join our team to assist Ausra in achieving its goals in the solar thermal energy market," said Bob Fishman, president, CEO and chairman of Ausra. "This round of financing will enable us to accelerate delivery of our technology to our customers."

Investors in this closing were led by KERN Partners, Generation Investment Management, Starfish Ventures and Ausra's founding investors Khosla Ventures and Kleiner Perkins Caufield & Byers.

In late June, Ausra began production of a new reflector line at its first North American manufacturing and distribution center in Las Vegas. This automated manufacturing and distribution center will supply the reflectors, absorber tubes and other key components of Ausra's and its customers' solar thermal power plants in the growing Southwestern solar power industry. Ausra's manufacturing facility has supplied all of the solar reflectors for the company's Kimberlina solar thermal power facility.