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STM gets cash infusion for new engine.

Publication: Crain's Detroit Business
Publication Date: 08-MAR-04 		Format: Online
Delivery: Immediate Online Access
Full Article Title: STM gets cash infusion for new engine.(News)(STM Power Inc.)(Company Profile)

Article Excerpt
Byline: Andrew Dietderich

Ann Arbor-based STM Power Inc. was strapped for cash and on its deathbed three months ago, but a $30 million venture-capital investment has given the company new life.

The round of financing closed in January. Investors were San Francisco-based Nth Power L.L.C.; Quebec-based CDP Capital Technology Ventures; San Diego-based Sempra Energy; Los Angeles-based Smart Technology Ventures; and San Bruno, Calif.-based VantagePoint Venture Partners.

STM used the money to begin selling a commercial version of its Stirling engine that can convert unusual sources of fuel, including methane gases from landfills and manure, into electricity.

Unlike internal combustion engines, which rely on tiny explosions, Stirling engines drive pistons using hot and cool gases. They use fewer moving parts and can convert various types of fuel into...

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