Date: Sep 25, 2013 Author: Eric Wesoff Source: GreenTech Media (
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One more solar casualty for the list.
Infinia, a firm looking to commercialize solar Stirling engines, has filed for Chapter 11, citing "the inability to obtain additional financing."
Infinia has a megawatt-scale project installed at Tooele Army Base in Utah and claims to have "nearly 200 megawatts of projects under development in the Mediterranean region."
Infinia's lead lender, Atlas Global Holdings, "has made an offer to buy Infinia's assets for an amount equal to the amount it is currently lending the Company under a debtor in possession financing arrangement," according to a release.
The Stirling engine was developed two centuries ago and is considered an external combustion engine. Stirling engines have a number of moving parts and do not have energy storage capabilities.
The company raised more than $70 million since its founding. In February 2008, Infinia won $50 million in a second round of financing led by GLG along with Khosla Ventures, Wexford Capital, Vulcan Capital, EQUUS Total Return, Idealab and Power Play Energy.
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In September 2011, Stirling Energy Systems (SES) of Scottsdale, Arizona, a system manufacturer of dish-engine solar plants, filed for Chapter 7 bankruptcy. SES had massive projects signed with PPAs from SCE and SDG&E. The Imperial project was a 709-megawatt plant with a PPA from SDG&E. The Calico project was an 850-megawatt plant with a PPA from SCE. But the Calico project was sold to a new photovoltaic developer called K Road, and Imperial Valley was acquired by AES Solar, a photovoltaic developer spawned by AES Corp and Riverstone Holdings.
