The heat-to-electricity company's Total and SABIC-backed series B-1 round lifted its total funding to more than $21m.
MTPV Power, a US-based developer of semiconductor technology that can convert heat to electricity, raised $11.2m on Tuesday in a series B-1 round featuring Total Energy Ventures and SABIC.
Total Energy Ventures, the corporate venturing subsidiary of petroleum company Total, and chemical manufacturer SABIC invested alongside investment manager Northwater Capital Management’s Intellectual Property Fund, which led the round, Point Financial, Spinnaker Capital, Ensys Capital, and Clean Energy Venture Group.
MTPV is developing semiconductors chips capable of directly converting heat to…
