Wednesday, February 1, 2012

Bay Biz Buzz: Sungevity Plans to Raise $41 Million, Chevron Reports Fire at Offshore Rig

Sungevity plans to raise $41M to fuel growth

Oakland-based Sungevity is busy raising nearly $41 million from private investors, the solar energy company disclosed in a new regulatory filing.

So far, Sungevity has raised about $12 million, and plans to raise an additional $28.8 million in the funding round.

If Sungevity manages to raise the entire $40.8 million, it would be considerably more than what the company raised in previous rounds.

Founded in 2007, Sungevity offers solar leasing programs to consumers who pay a monthly fee to cover the installation of rooftop energy systems. The company has been hiring hundreds and expanding its office space at its Oakland headquarters.

Chevron reports fire at deep-water site

San Ramon-based Chevron said an offshore rig exploring possible deep-water oil and gas fields off Nigeria's coast caught fire Monday. The oil company said officials were still trying to account for all those working there.

Chevron said two workers were missing and 152 others found, but gave no further details on the missing persons.

The energy giant is still investigating the situation. Chevron and other foreign oil companies in Nigeria pump crude oil in partnership with the state-run company.


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