Infinia Corporation Raises $15.5 Million To Launch PowerDish© Proceeds to Enable 90MW of Annual Production and Initial Deployment for US Army

OGDEN, UT – September 5, 2012 – Infinia Corporation, a leader in the development of innovative clean energy products using its proprietary free piston Stirling generator, today announced the closing of a $15.5 million dollar capital raise led by Atlas Global Investments Management. In addition to participation from other current Infinia shareholders, including Wexford Capital, Atlas was joined in this financing with a major commitment from Comstock Holdings, a new investment vehicle managed by Silvermine Capital Resources, LLC. The company will use the proceeds of the financing for the fourth quarter 2012 commercial launch of its revolutionary solar power generation product, the PowerDish.

“We are very excited to begin demonstrating our products to a broader universe, starting with our 1.5 megawatt installation at the Tooele army base in Utah” said Infinia CEO, Mike Ward. “We are especially grateful for the support of General Martin Dempsey, Chairman of the Joint Chiefs of Staff, who personally attended our recent groundbreaking, and we believe Infinia can provide a major contribution toward his goal to purchase $7 billion worth of power generated from alternative energy sources including solar.”

“Over the last twelve months, Infinia has demonstrated its ability to drive highly innovative technology into commercial manufacturing and sales at utility scale” said Joost Schellens, Partner at Atlas Global Investments Management. “We continue to believe Infinia is a clear leader in power generation technologies that are cleaner, more efficient, and ideal for off grid and micro grid applications that are so crucial to the developing world economies. The massive recent blackouts in India make the case for Infinia’s technology even more compelling – the new energy infrastructure of these countries will be built upon renewable technologies such as Infinia’s that are equally suited to distributed generation and utility scale applications.”

Infinia has deployed its PowerDish product at numerous locations around the globe including: Frito Lay’s manufacturing facility in Casa Grande, Arizona; the largest U.S. independent milk producer’s processing facility in Yuma, Arizona [under Arizona Public Service’s Green Choice distributed generation program]; Belen, New Mexico; Las Virgnes, California; and New Delhi, India.

 

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