Bloom Energy, Kleiner Perkins’ first cleantech investment, has raised another $150 million, according to VentureWire as reported in the WSJ.
Bloom, founded eleven years ago, builds and sells fuel cells of the Solid Oxide Fuel Cell (SOFC) variety. The devices run on natural gas and produce electricity with less emissions than a diesel gen-set.
This Round G brings the VC total for Bloom to approximately $800 on a reported valuation of $2.7 billion, a figure which brings it near the “Solyndra line” of VC totals. At a certain point, the necessity of having to raise more VC becomes looks more like a liability and an indication that something is wrong with a business model.
Previous investors in Bloom have included Advanced Equities, Apex Venture Partners, DAG Ventures, GSV Capital, Kleiner Perkins Caufield & Byers, Mobius Venture Capital, Madrone Capital, New Enterprise Associates, SunBridge Partners, and Goldman Sachs.