Infinia lands $50 million for (stirling) solar system, plans to hire 160

[OKIsItJustMe]

http://blog.seattlepi.nwsource.com/venture/archives/131633.asp

Infinia lands $50 million for solar system, plans to hire 160

Infinia Corp. believes it has devised a more cost-effective way to convert the sun's rays into usable power.

And some big backers agree: Infinia announced today a massive $50 million investment. The cash-infusion -- which follows a $9.5 million investment last summer -- will help the 23-year-old company start a solar dish manufacturing line at its headquarters in Kennewick. By the end of this year, the 40-person company plans to have the first dishes rolling off the line with staffing mushrooming to 200 people.

If the company meets goals in the growing solar industry, Chief Financial Officer Gregg Clevenger said it could employ as many as 800 people worldwide by 2013.

The $50 million deal -- led by European investment firm GLG Partners and including participation from existing investors Khosla Ventures, Vulcan Capital, Idealab and others -- follows three other major investments in the solar energy sector in the past six months.

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