July 23, 2014 9:58 PM ET

Independent Power and Renewable Electricity Producers

Company Overview of eSolar, Inc.

Company Overview

eSolar, Inc. engages in designing, engineering and assembling concentrating solar power towers in the United States and internationally. Its technology utilizes flat mirrors to track the sun and reflect the sun’s heat to a tower-mounted receiver to create steam, which powers a traditional turbine and generator to produce solar electricity. The company’s technology is used in various applications, including integrated-solar combined-cycle power, molten salt power, enhanced oil recovery, desalination, and process heating. eSolar, Inc. was founded in 2007 and is based in Burbank, California.

3355 West Empire Avenue

Suite 200

Burbank, CA 91504

United States

Founded in 2007

Phone:

818-303-9500

Fax:

818-303-9501

Key Executives for eSolar, Inc.

Chief Executive Officer
Age: 52
Chief Financial Officer
Vice President of Human Resources & Marketing Communications
Executive Vice President of Projects
Senior Vice President of Engineering
Compensation as of Fiscal Year 2014.

eSolar, Inc. Key Developments

eSolar Unveils Two New Product Offerings in Las Vegas

eSolar has unveiled two new product offerings at the 2013 SolarPACES conference in Las Vegas, Nevada. eSolar Project Manager Plazi Ricklin will showcase the company's new heliostat offering, the SCS5, during the "Solar Collectors" conference. Expanding upon eSolar's time-tested approach to solar collection, the SCS5 offers a more simplified design and enhanced reliability to reduce total installed solar collection system cost by more than a third. SCS5 will be commercially available in early 2014.

eSolar, Inc. Raises USD 22 Million for Expansion to the Middle East and North Africa

eSolar Inc. announced that it had secured USD 22 million in a funding round to back its expansion to the Middle East and North Africa and advance the SCS5 device. Existing supporters participated in the financing tranche, including US multi-stage venture capital firm Oak Investment Partners. eSolar explained that it had identified possible applications for its CSP technology for the production of steam for use in enhanced oil recovery (EOR) activities in the MENA region. In addition, the molten salt-based, on-site energy storage capacity of the company's product will allow for the reuse of produced water from the oilfield ‘offering a key differentiator’ to possible eSolar customers in the EOR segment. A portion of the proceeds from the latest financing round will go for the development of the next-generation SCS5 device. The company explained that the solution can enhance further the economics and construction efficiency of CSP power plants by bolstering the use of standard high-volume components and cutting the number of system elements.

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