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.

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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.