Brillouin Energy Looks to Raise $15 Million in Equity Financing by June

Brillouin Energy is looking to raise $15 million in new equity by June 2017, according to a MergerMarket report uploaded on Brillouin’s website.

Brillouin Energy, a Berkeley, California based clean technology company, is in early discussions to raise USD 15m in equity financing, CFO David Firshein said.  Brillouin’s goal is to complete the Series C raise by June, Firshein said. The company’s pre-money valuation is just over USD 60m, he said.  Brillouin is developing an ultra-clean, low cost, renewable energy technology that can produce commercially useful amounts of thermal energy from Low Energy Nuclear Reactions (LENR).

The company is seeking both strategic and financial investors, Firshein said. It has alreadyattracted interest from both venture firms and corporates, but it does not yet have a lead investor for the round, he said.  Proceeds from the raise will support further development of Brillouin’s renewable heat energy technology and will make the technology market ready, the CFO said. The company expects to be cash flow break-even in about a year, he added.

Brillouin is already generating some revenues based on licensing agreements it has in place, the CFO said.

The company has two licensing agreements one with a South Korean company active in the infrastructure sector and another with a company that operates in Canada, he said.  Brillouin was founded in 2009 and has total funding of approximately USD 11m. Its most recent round of USD 7.75m closed at the beginning of March. James Farrell, managing director at Beyond Carbon Energy was lead investor for the round.  Brillouin’s technology includes a method of electrical stimulation of nickel metal conductors based on Brillouin’s proprietary control system Q Pulse, according to its website.

Its offering also includes a WET Boiler that can provide commercial and residential buildings with lower grade process heat up to 150°C and a Hydrogen Hot Tube that can provide several scalable non- fossil fuel process heat applications including steam turbine power plants, hydronic heating and desalination of salt water.

 

Bill Gates on Opportunities in Energy

Speaking at Columbia University, Bill Gates told the crowd that if he were to drop out of school today, there were three promising fields he might choose: artificial intelligence, biotech and energy.

“Gates said there is a huge and growing demand for energy that’s “reliable, cheap, and clean.” And Gates said there is no system yet today that can provide enough energy that meets those criteria. That’s why he sees energy as an area of opportunity for innovative minds, he told the audience of mostly university students. “The innovations [in energy] will be profound,” said Gates. “And there are many paths to get to where we need to go.”

The full article is published here.  Gates is a quiet supporter of LENR technology and research at Texas Tech and has pledged to spend $30 billion developing alternative energy.  LENR may be one of the paths Gates expects will lead to our energy independence.

XPRIZE Competition to Design Abundant Clean Energy Technology

Link to competition XPRIZE.

Can the way we generate energy be FUNDAMENTALLY transformed?

We believe the world will be much better if global clean energy generation is dramatically improved beyond current choices – and that’s why we’re developing this XPRIZE.

On a planet awash with energy, in a universe where all matter is made of immense amounts of energy (E=mc2), we find our society forced to make bad choices for most of our energy supply from a set of technologies as old as the transistor, not to mention fire.

There are countless reasons why we need new and better sources of energy, from climate change to pollution to poverty and more. The vast majority of mankind’s current energy use is coming from unsustainable and damaging sources. We need something better.

• Low Energy Nuclear Reactions (LENR) of various designs
• Energy generators sourcing energy from Ionosphere/Van Allen Belt/Vacuum
• Energy capture from gravity
• Energy capture from permanent magnets
• More hydrogen generated from water than predicted by chemistry
• Zero Point Energy
• Advanced solar technologies resulting in higher efficiency – eg., optical rectenna
• Reactionless generators and/or regenerative motors