LightSail raises another $5.5M for energy storage
LightSail Energy closed a $5.5 million investment.
LightSail Energy Inc. has raised another $5.5 million -- a second close of its Series D round -- for its compressed air energy storage technology, according to Greentech Media.
LightSail is developing utility-scale compressed-air energy storage that would enable renewable energy to be stored for use when it's most needed. For instance, solar power collected in the daytime could be used at night or wind power collected at night could be used in the daytime.
LightSail, based in Berkeley, closed a $37.3 million round in November. French Energy giant Total SA (NYSE: TOT) is the latest investor in the round. Other investors include Peter Thiel, an early investor in Facebook (NASDAQ: FB), Khosla Ventures, Bill Gates and Innovacorp.
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