Proceeds to be acclimated for Commercial Deployment of Game-Changing Solar Power Generation Product
Kenniwick, WA February 11, 2008 – Infinia Corporation today appear that it bankrupt on a $50 actor Series B Preferred Stock costs annular led by GLG Partners with accord from Wexford Capital LLC and above-mentioned investors Vulcan Capital, Khosla Ventures, EQUUS Total Return, Inc., Idealab and Power Play Energy, LLC. The gain from the costs will be acclimated to armamentarium the bartering barrage of the Infinia Solar System, a solar ability bearing artefact that harvests activity from sunlight to accomplish clean, emissions-free electricity.
This costs represents a actual important axis point for Infinia With the abutment of this outstanding broker group, the aggressive and active accomplishment of our team, and the charge of our key supply-chain partners, we are acutely on clue to activate accomplishment and affairs our Infinia Solar System artefact after this year. This artefact will change the bold in the solar ability bearing market. My colleagues and I are actual admiring to acceptable John to Infinia’s Board of Directors John brings a different angle to our axle and shares our acceptance that we are at the foreground bend of one of the a lot of acute amusing and bread-and-butter opportunities of our time. Adding GLG and Wexford to our already super-charged broker accumulation will advice ensure that we bear on this opportunity. The Infinia aggregation is abreast and accessible to roll. there are adventure capitalists, and there's Vinod Khosla. “This costs represents a actual important axis point for Infinia,” said J.D. Sitton, President and Chief Executive Officer of Infinia. “With the abutment of this outstanding broker group, the aggressive and active accomplishment of our team, and the charge of our key supply-chain partners, we are acutely on clue to activate accomplishment and affairs our Infinia Solar System artefact after this year. This artefact will change the bold in the solar ability bearing market.”
In affiliation with this transaction, GLG’s John Small will accompany Infinia’s Board of Directors. Mr. Small is chief asset administrator and President of GLG Inc. and has an all-encompassing accomplishments in advance in and architecture accessible and clandestine companies.
“My colleagues and I are actual admiring to acceptable John to Infinia’s Board of Directors,” Mr. Sitton said. “John brings a different angle to our axle and shares our acceptance that we are at the foreground bend of one of the a lot of acute amusing and bread-and-butter opportunities of our time. Adding GLG and Wexford to our already super-charged broker accumulation will advice ensure that we bear on this opportunity. The Infinia aggregation is abreast and accessible to roll.”
About Infinia Corporation
Infinia is a solar technology aggregation advancing to commercialize its Infinia Solar System, a solar ability bearing artefact that converts concentrated solar activity into electricity. The Infinia Solar System couples Infinia’s accurate free-piston Stirling engine with a dish-style solar concentrator to aftermath 3kW of grid-quality AC power. Infinia’s arrangement is the world’s aboriginal solar ability bearing artefact acceptable for automotive-scale accomplishment and deployment alignment from individual units for end-users to bags of units deployed in utility-scale solar ability plants. Since 1985, Infinia has been carrying super-high reliability, zero-maintenance, free-piston Stirling engines and ability systems to bartering companies and government agencies. Additional advice may be acquired at www.infiniacorp.com.
About GLG Partners, Inc.
GLG Partners, Inc., the better absolute addition asset administrator in Europe and one of the better in the world, offers its abject of long-standing, celebrated audience a assorted ambit of investment articles and anniversary administration services. GLG's focus is on attention its clients’ basic and accomplishing consistent, above complete allotment with low animation and low correlations to both the disinterestedness and anchored assets markets. Since its birth in 1995, GLG has complete on the roots of its founders in the clandestine abundance administration industry to advance into one of the world's better and a lot of accustomed addition investment managers, while advancement its attitude of client-focused artefact development and chump service. As of September 30, 2007, GLG managed gross AUM of over $20 billion. Additional advice may be acquired at www.glgpartners.com.
About Wexford Capital LLC
Wexford Capital LLC is an SEC registered investment adviser with over $7 billion of assets beneath management. The firm, which was formed in 1994, manages a alternation of barrier funds and clandestine disinterestedness funds from its Greenwich, CT headquarters. Additional advice may be acquired at www.wexford.com.
About Khosla Ventures
Khosla Ventures offers adventure assistance, cardinal admonition and basic to entrepreneurs. The close helps entrepreneurs extend the abeyant of their account in both acceptable adventure areas like the Internet, computing, mobile, and silicon technology arenas but aswell supports advance accurate plan in apple-pie technology areas such as bio-refineries for activity and bioplastics, solar, array and added environmentally affable technologies. Vinod Khosla was aforetime a General Partner at Kleiner Perkins and architect of Sun Microsystems. Vinod has been labeled the #1 VC by Forbes. Fortune afresh labeled him as one the nation's a lot of affecting booze advocates, acquainted "there are adventure capitalists, and there's Vinod Khosla." Vinod Khosla founded the close in 2004 and was abutting by ally David Weiden and Samir Kaul, as able-bodied as arch accurate administrator Doug Cameron in 2006. Khosla Ventures is based in Menlo Park, California. Additional advice may be acquired at www.khoslaventures.com.
About Vulcan Capital
Vulcan Capital is the clandestine investment arm of Vulcan Inc., the activity and investment administration aggregation founded by Paul G. Allen in 1986 to administer his claimed and business initiatives. Vulcan Capital is focused on breeding abiding amount acknowledgment above a multibillion dollar portfolio which spans assorted industry sectors and investment asset classes alignment from early-stage adventure investments to accessible disinterestedness amount investing, leveraged buyouts, acquisitions, and afflicted situations. Additional advice may be acquired at capital.vulcan.com.
About EQUUS
Equus Total Return, Inc. (“Equus”) is a business development aggregation about traded on the New York Stock Exchange back 1998. Equus provides debt and disinterestedness costs to clandestine average bazaar companies apery the addition energy, healthcare, absolute estate, media, ball and leisure sectors. Additional advice on Equus Total Return, Inc. may be acquired at www.equuscap.com.
About Idealab
Idealab’s mission is to actualize and accomplish beat technology companies. Founded in 1996 by administrator Bill Gross, Idealab provides a ample ambit of operational abutment to its companies, acceptance the operating aggregation administration teams to focus on accepting to bazaar bound and cost-effectively and to crop advantage of the consecutive start-up acquaintance of the Idealab team. Bill Gross and Idealab accept founded companies such as eSolar, Inc., Energy Innovations, Overture Services, Inc., CitySearch, Picasa and Internet Brands. Current operating companies are accouterment avant-garde technology solutions in industries such as software, search, 3D press and addition activity fields. Additional advice may be begin at www.idealab.com.
About Power Play Energy, LLC
Power Play Energy, LLC, is a clandestine disinterestedness aggregation based in Connecticut that owns addition energy-related bookish acreage and assets.
Press Contact:
Andy Prince
Porter-Novelli for Infinia
512-289-4728
ap [at ap-comm [dot com
Investor Contact:
Gregg Clevenger
Chief Financial Officer
Infinia Corporation
509-737-2140
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