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Gradient Resources raises $63 million in the form of options and warrants

Gradient Resources raises $63 million in the form of options and warrants Patua geothermal power project site of Gradient Resources, Nevada (source: company)
Alexander Richter 8 Dec 2011

U.S. geothermal developer Gradient Resources Inc. has raised $63 million in financing in the form of options and warrants as reported to the SEC last week.

Last week, U.S. geothermal developer Gradient Resources Inc., filed a report to the Securities and Exchange Committee (SEC) in the U.S. reporting that the company “has raised $63 million in financing. The money comes largely in the form of options and warrants, according to the filing.

Formerly known as Vulcan Power Co., the company is backed by energy-focused private equity firm Denham Capital. The company, in early 2010, closed a $108 million round from Denham Capital.”

Source: PeHub