Last VC Call for Bloom Energy: Fuel Cell Startup Seeks $50 Million
Fuel cell maker Bloom Energy is seeking $50 million, in what it's telling prospective investors will be their last chance to buy in before an IPO. Existing shareholder Northgate Capital is somehow involved, although I'm not certain if it's as lead investor or as quasi-placement agent (or both). No word on if other insiders plan to return pro rata. Bloom is a fascinating company, because it is so remarkably divisive among cleantech investors. Proponents consider it to be the energy industry's Google, a revolutionary company that will become ubiquitous. They talk about $20 billion as a floor for the post-IPO valuation -- which I hear is slated for late next year -- with $40 billion being within the realm of possibility.
25 June 2010•2 mins read
