Last deal

$2M

Amount

Series D

Stage

20.04.2015

Date

3

all rounds

$46.92M

Total amount

date founded

Financing round

General

About Company
LightSail Energy developed compressed air energy storage systems for the electrical grid.

Industry

Sector :

Subsector :

founded date

01.01.2008

Operating Status

Closed (01.01.2018)

founders

Number of employees

Company Type

For Profit

Last funding type

Series D

IPO status

Private

Description

Founded in 2008, LightSail Energy initially focused on using compressed air for vehicle power, but later shifted to grid-scale energy storage. Their technology allowed for low-cost and efficient storage of renewable energy from sources like solar and wind. By compressing air and using a mist of water spray to capture and store the generated heat, LightSail aimed to provide a cleaner and cheaper alternative to fossil fuels. Despite receiving over $70 million in funding from investors like Peter Thiel, Bill Gates, and Vinod Khosla, the company ran out of funding in 2017 and entered a state of "hibernation."
Contacts

Contact Email

Phone number

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Employee Profiles
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Abe Fetterman

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