Infinia announces $50 Mn Financing

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Kennewick: Infinia announced today that it closed on a $50 million Series B Preferred Stock financing led by GLG Partners with participation from Wexford Capital LLC and prior investors Vulcan Capital, Khosla Ventures, EQUUS Total Return, Idealab and Power Play Energy, LLC. The proceeds from the financing will be used to fund the commercial launch of the Infinia Solar System, a solar power generation product that harvests energy from sunlight to generate clean, emissions free electricity.

"This financing represents a very important turning point for Infinia," said J.D. Sitton, President and CEO, Infinia. "With the support of this outstanding investor group, the inspired and diligent effort of our team, and the commitment of our key supply chain partners, we are clearly on track to begin manufacturing and selling our Infinia Solar System product later this year. This product will change the game in the solar power generation market."

In the light of this transaction, GLG's John Small will join Infinia's Board of Directors. Small is senior asset manager and President of GLG Inc. and has an extensive background in investing in and building public and private companies.

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