eSolar, Google-Backed Startup, Picks Up Steam, $130 Million

Rising oil prices lift all alt-energy boats.

For proof, look no further than the fat $130 million investment scooped up by eSolar, a company whose basic solar power strategy -- using sunlight-reflecting mirrors to generate steam -- was all but abandoned in the 1980s, and has recently recently caught investors' attention again.

The money, from Google's philanthropic arm, Google.org, and venture capital firms Idealab and Oak Investment Partners, will go towards the construction of eSolar's first functioning solar power plant.

Read the whole story here.

Comments

[garbovatwins]

More than 28 of your years ago, your actor president shut down funding to solar research at the behest of his fossil fuel benefactors, at a time when they were at the threshold of making a major stride in perfecting the process. You would not be receiving this message now if that had been avoided. Your sun as you call it, can power your entire world, indeed it will have to for you to reverse the damage you are doing to the planet you call home to keep it inhabitable. Save your home. The rest will follow. The universe is watching.

[KOisGod]

I worked on the Solar One test site in Barstow CA in the early 80's. It was a field of sun tracking mirrors aimed at a tower that had tubular panels that had a molten salt compound pumped through them and then this super hot liquid ~800 degrees F went into a tank and boiled water to create steam that turned turbines.

This was part of the DOE's Carter presidency's effort toward alternative energy experiements. Also during that time, we were looking at different wind driven turbines designs and solar voltaics.

Had these been pursued, and not defunded by Reagan, who know where we might be today.

I am glad to see the US looking into all of these technologies today. Other countries are 5 to 10 years ahead of us. We'll get there, because necessity is the mother of all inventions.

[KOisGod]

One of the problems with the design though, was that the tubular panels would warp and eventually crack due to the extream temp swings from day to night. Part of our job was to thermal image the panels, and see if the mirror field could be adjusted to lower the temperatures if they got to run away temps. Perhaps there are new metal compounds that could better withstand the stress of going from 800 degrees to freezing in sometimes the time frame of 8 hours. This was after all 24 years ago.

[oogabooga]

The neocon/oil/carmaker alliance will kill it - or maybe not this time?

[not one of the sheep]

It's about time someone is visionary. Just don't let those solar panels block Teddy's view of the bay.

[WilliePilgrim]

Excellent news and it's gratifying to see that philanthropic Google.org is using its considerable wealth to back these ventures. This sort of financial support would not be available to companies that are attempting to establish profit-making and socially responsible endeavors if they were a 501.c tax deductible charitable organization and this approach offers much. I hope it pays off but more importantly I hope it's a foot in the door of an industry that's been closed to smaller startups that are as capital intensive as energy production at a meaningful level. Thanks Mr Page, Mr Brin, Dr Brilliant and your very perceptive associates who are using their techincal saavy and insight for the kind of ventures that bring more than simply profit and for taking the long view. I hope they will also take a serious look at a the emerging technologies in non-radioactive fusion technologies as well.