The amount of the transaction was not disclosed.
The company intends to use the capital to globally roll out its LucidPipe Power System,
Formed in 2007 and led by president and CEO Gregg Semler, Lucid Energy provides the LucidPipe™ Power System, a hydroelectric system that generates low-cost, renewable energy from fast-flowing water inside of large-diameter municipal, agricultural and industrial pipelines.
The first commercial installation of the system in Riverside, California has been in operation since January 2012. The company is currently installing systems in Portland, Oregon, San Antonio, Texas and Haifa, Israel.