Cool Energy is completing the build on three of its heat-to-electricity conversion SolarHeat Engines, two of which have been sold for the process of converting waste heat to electricity.
The founder of business incubator Idealab was among the investors who provided $1 million in funding to Boulder-based Cool Energy Inc., a manufacturer of low-temperature Stirling engines that convert solar thermal energy and waste heat into electricity, according to Securities and Exchange Commission filings made public Friday.
Bill Gross, CEO of Pasadena, Calif.-based Idealab, is listed as a director of the privately held Cool Energy in a regulatory filing in which company officials indicated that they raised $1 million in equity funds.
Samuel P. Weaver, Cool Energy’s chief executive and president, confirmed the amount raised and that Gross was one of the investors in the funding round. Weaver declined to comment further about the investment, noting that, as of Monday, neither the company nor its investors had yet to publicly announce the round.
Cool Energy is completing the build on three of its heat-to-electricity conversion SolarHeat Engines, two of which have been sold for the process of converting waste heat to electricity.
