Powerspan Raises $50 Million

Powerspan Corp., a Portsmouth, N.H.-based developer of clean energy technologies for existing power producers, has raised over $50 million in Series D funding at a pre-money valuation of approximately $150 million. The round's first $50 million closed last summer, while a regulatory filing from last month reports that the company had secured $2 million of a new $7 million tranche. New backers include George Soros, Tenaska Energy Inc., AllianceBernstein and Persimmon Tree Capital. Returning shareholders include NGEN Partners, The Beacon Group, The Tremont Group, RockPort Capital Partners, Calvert, Angeleno Group, Fluor Corp. and FirstEnergy Corp.

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