Terrajoule, a Redwood City, CA-based developer of a flexible technology platform for distributed energy generation, energy storage, and energy efficiency, raised $11.5m in Series A funding.
Backers included New Enterprise Associates, Air Liquide Investments in the future And Demonstration (ALIAD), the capital development company of Air Liquide and individual investors Jim Bochnowski (Menlo Park, California) and Craig Winkler (Australia). Greg Fleming, an investment director at Air Liquide, joined the company’s board of directors.
Founded in 2009 by Steve Bisset, Co-Founder and CEO, Terrajoule developed a flexible technology platform to convert waste heat to valuable electricity. The company is targeting a number of applications in the industrial and agricultural sectors including distributed electricity production, especially in locations with electrical grids that are inadequate to support economic growth, and waste heat recovery to improve the efficiency of industrial operations.
Partnerships include JKB Energy of Turlock, CA, a supplier of solar power systems to agriculture and industry, and Roush Industries of Livonia, Michigan, a developer of automotive and energy systems.