Funding RoundUp: Wind in the U.K, Firelake's Fund, Oil Recycling, Ocean Power
- Semplice Energy Ltd., a green energy solutions firm out of the UK, said it has secured $1.23 million in funding from BIP Fund (I) Limited Partnership, a Bahamas-based venture capital business. The funds will be used to grow Semplice’s business, which included the installation of the first wind turbine at a McDonald’s earlier this year.
- Firelake Capital Management will be opening a new $100 million fund for private sector investments, VentureWire and VentureBeat report. The fund, Strategic Technology Fund II, will close in January and will continue to expand Firelake’s cleantech investments. Managing Director Martin Lagod told VentureBeat the fund would invest in energy distribution and generation, transportation, water and carbon-mitigation technologies.
- Bangalore-based private equity firm UTI Ventures says it’s invested $8 million into waste oil recycling company PESCO BEAM Environmental Solutions.
- Ocean Renewable Power Co., of Fall River, Mass., is looking to test its first pilot turbine and is raising $12 million in financing, according to VentureWire . This follows ORPC’s announcement that they’ve filed for three patents in the last few months aimed at protecting the design and manufacture of their turbines.
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