Clean power business Mainspring closes hefty $290m Series E round | AltAssets Private Equity News
Summary
Clean power generation provider Mainspring Energy has picked up a hefty $290m Series E round from backers including the Canada Pension Plan Investment Board. Mainspring said it would use the funds to expand operations and scale manufacturing of its clean energy Linear Generators for commercial, industrial, and grid-side customers. Click to sign up to AltAssets’ free daily PE newsletter The company says its products deliver significant advantages in cost, reliability, and flexibility, including the ability to dynamically switch between clean fuels like biogas, hydrogen and ammonia using software. Mainspring announced in May this year that it had hit a $150m first close for the Series E round alongside a major commercial sales deal. “They are deeply committed to meeting our mutual goal of clean, reliable, affordable power for all.”