RedWave Energy raises $5.2M

BOULDER — RedWave Energy, a startup that is building technology to capture waste heat from industrial processes and convert it into electricity, has raised $5.2 million in capital, according to documents filed recently with the U.S. Securities and Exchange Commission. The company is seeking to raise a total of $10 million.

Redwave has partnered with the U.S. Department of Energy’s Idaho National Laboratory and University of Colorado researchers to develop Antenna Coupled THz Film, according to a recent R&D Magazine report. That thin, flexible film features tiny antennas that capture heat waves to be turned into electricity, reducing energy costs for manufacturers.

RedWave representatives could not be reached for comment.

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The recent $5.2 million capital raise isn’t the first for RedWave, which was founded in 2011. The company brought in about $5.2 million in 2016 from investors that included a foundation run by actors Will and Jada Smith, and an investment fund for Hyatt Hotels heiress Liesel Pritzker Simmons, according to a Fortune report.