Bloom Energy has set out to raise another $160 million in a convertible note financing, according to The Wall Street Journal.
The fuel cell maker had sold $130 million of the notes by Dec. 19, the WSJ reported. The news was included in a Spruce Investment Advisors e-mail to clients. The notes are to convert into preferred shares from Bloom’s Series G round in the event of an IPO, the paper reported.
Bloom has raised more than $1 billion in capital from investors including Kleiner Perkins Caufield & Byers, New Enterprise Associates and GSV Capital