Alphabet Energy Secures $2M in Debt Financing
Alphabet Energy Inc., a Hayward, Calif.-based developer of thermoelectric waste-heat recovery technology, has secured $2m in debt financing from Hercules Technology Growth Capital.
The investment follows the company’s recent $12m Series A equity financing led by TPG Biotech (read here).
Alphabet Energy intends to use the funding to scale development and manufacturing as it continues the build-out of its new Hayward facility in the San Francisco Bay Area.
Founded in 2009 by CEO Matthew L. Scullin and Peidong Yang in Berkeley, California, Alphabet is currently prototyping its first product, a simple, turnkey solution for the generation of electricity from wasted heat. Its thermoelectrics can be used to turn heat directly into electricity in applications ranging from power generation, to heavy industry, automotive, aerospace, and military.
The company is hiring (http://www.alphabetenergy.com/index.php?action=careers)