Canada-based energy producer Encana has led a $16m series B round into Alphabet Energy, a US-based closed-loop power group converting waste heat to generate electrical power.
Vince Elenko, lead of Encana’s Environmental Innovation Fund, will join Alphabet Energy as a board observer.
There was also involvement from existing investors: venture capital firm Claremont Creek Ventures, TPG Biotech, the life science venture unit of private equity firm TPG, and the CalCEF Clean Energy Angel Fund, a seed and early stage venture capital fund dedicated to clean energy in California.
Alphabet has raised $29m to date, $12m in a series A round in 2011 and $1m in seed funding in 2010.
The new funds will be used to advance product development and help launch the company’s first product.
Separately, Alphabet has also hired Mothusi Pahl, previously general manager of both Comverge and Cummins Power Generation, as vice-president of marketing.