Powerspan Raises $50 Million

Portsmouth, NH-based Powerspan, which is developing electro-catalytic oxidation systems that remove pollutants from flue gas at coal-fired electrical plants, said today that it has closed a new $50 million financing round led by new investors George Soros, Tenaska Energy, Inc., AllianceBernstein LP, and Persimmon Tree Capital. Existing investors NGEN Partners LLC, The Beacon Group, The Tremont Group, RockPort Capital Partners, Calvert, Angeleno Group, Fluor Corporation, and FirstEnergy also participated. PE Hub notes today, however, that this funding round may actually be the same as a $50 million Series D disclosed to regulators last summer, and that the company has said in a separate filing that it is in the process of collecting a new $7 million offering. We will clarify the situation when we have additional information.

Author: Wade Roush

Between 2007 and 2014, I was a staff editor for Xconomy in Boston and San Francisco. Since 2008 I've been writing a weekly opinion/review column called VOX: The Voice of Xperience. (From 2008 to 2013 the column was known as World Wide Wade.) I've been writing about science and technology professionally since 1994. Before joining Xconomy in 2007, I was a staff member at MIT’s Technology Review from 2001 to 2006, serving as senior editor, San Francisco bureau chief, and executive editor of TechnologyReview.com. Before that, I was the Boston bureau reporter for Science, managing editor of supercomputing publications at NASA Ames Research Center, and Web editor at e-book pioneer NuvoMedia. I have a B.A. in the history of science from Harvard College and a PhD in the history and social study of science and technology from MIT. I've published articles in Science, Technology Review, IEEE Spectrum, Encyclopaedia Brittanica, Technology and Culture, Alaska Airlines Magazine, and World Business, and I've been a guest of NPR, CNN, CNBC, NECN, WGBH and the PBS NewsHour. I'm a frequent conference participant and enjoy opportunities to moderate panel discussions and on-stage chats. My personal site: waderoush.com My social media coordinates: Twitter: @wroush Facebook: facebook.com/wade.roush LinkedIn: linkedin.com/in/waderoush Google+ : google.com/+WadeRoush YouTube: youtube.com/wroush1967 Flickr: flickr.com/photos/wroush/ Pinterest: pinterest.com/waderoush/