Posts Tagged ‘BrightSource’
BrightSource Energy pulls their IPO
One day prior to going public, BrightSource Energy pulled their IPO citing challenging market conditions even though they priced in the middle of their range at $22. The last time I looked, the S&P 500 was up almost 8% year to date. It sounds like the market is challenging for solar companies that have executional risk. Obviously this is a big disappointment.
Over the last year, we have sharply reduced our investments in Greentech recognizing that although we have done well with Tesla Motors and SolarCity, we fundamentally don’t have the in-house expertise and experience to make large investments in this space. Instead we are turning our attention much more to Consumer Internet where we have the capability to make educated bets.
BrightSource Energy S-1
We are excited to see another of our portfolio companies, BrightSource Energy, publish their S-1 with the SEC. Their 392 megawatt (gross output) Ivanpah project has the potential to power 140,000 households at peak, and will increase the amount of solar thermal generation capacity currently installed in the United States by over 75%.