Glacier Bay solidifies $10M for power management systems
Glacier Bay, maker of high efficiency power and thermal management systems for trucking and aquatic applications, announced that it raised $10 million in new capital from the Westly Group, New Enterprise Associates and Quercus Trust.
The 18-year old company shifted to building energy-efficient HVAC and power generation systems in the last two years. This has proved much more lucrative than its previous focus on researching related topics.
The Union City, Calif. company’s lead product right now is a battery-operated heating and air conditioning system for large trucks. It is currently in the middle of developing a powerful and durable generator for military use. Glacier claims that its offerings are not only more efficient, but also lighter, smaller and quieter than competing systems, making them more useful in a variety of situations. It also says it has a patent on an energy platform that substantially reduces generators’ carbon emissions.
VentureBeat last reported on Glacier when it raised $18 million of a proposed $30 million round of funding in January 2008. At that time, its generators were primarily used in large boats like yachts. Capable of powering a lot of on-board functions, the generators in question were said to up efficiency by more than 30 percent, reducing the amount of expensive fuel required.
This most recent round of funding brings the company’s total to $50 million, provided entirely by Westly, NEA and Quercus.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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