Cool Energy raises $1.5M in new funding

BOULDER — Cool Energy Inc., a clean-tech firm started by Boulder city councilman Sam Weaver and his father in 2006, has raised a new equity-funding round of nearly $1.5 million.

The company disclosed the cash infusion in a recent filing with the U.S. Securities and Exchange Commission. Weaver could not immediately be reached for comment on Monday.

Nine investors participated in the funding round, according to the filing.

Cool Energy makes a product called the ThermoHeart engine that is used to convert waste heat from industrial facilities into clean electricity.

The new funding follows a $1 million round led by Pasadena, Calif.-based IdeaLab in 2011, through which IdeaLab founder Bill Gross gained a seat on Cool Energy’s board of directors.