eSolar Closes $22M Funding

eSolar, a Burbank, California-based developer of modular, scalable concentrating solar power (CSP) technology, closed a $22m funding.

Backers included existing investor Oak Investment Partners.

The company intends to use the funds to expand into the Middle East and North Africa (MENA) region, as well as to develop its heliostat, the SCS5.

Founded in 2007 and led by John Van Scoter, CEO, eSolar develops modular and scalable solar thermal power plant technology, which is designed to minimize construction costs, complexities and cycle times. In the MENA region, scalable concentrating solar power (CSP) plants can be used to produce steam for use in enhanced oil recovery (EOR) applications.



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