Desert Power Inc. Closes First Round of Funding -- Mesa Venture Leads Round.FARMINGTON Farmington. 1 Town (1990 pop. 20,608), Hartford co., central Conn., on the Farmington River; inc. 1645. It is mainly residential with some light industries. The town has a private girls' school and the Univ. , N.M. -- Desert Power Inc., a newly established company providing equipment overhaul and repair services to the natural gas compression industry in the Rocky Mountain region The Rocky Mountain Region is a floristic region within the Holarctic Kingdom in western North America (Canada and the United States) delineated by Armen Takhtajan and Robert F. Thorne. , today announced that it has closed its first round of funding. Mesa Venture, a Santa Fe Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. , N.M.-based early-stage venture capital firm, led the $1,135,000 round. Altira Group, a Denver-based venture capital firm focused on energy technology, also participated. The San Juan Basin The San Juan Basin is a drainage basin and geologic structural basin in the Four Corners region of the Southwestern United States; its main portion covers around 4,600 square miles, encompassing much of northwestern New Mexico, northeastern Arizona, and parts of Colorado and Utah. is the second largest natural gas-producing region in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and is one of the few mature gas-producing regions aggressively developing new fields. Desert Power intends to fill a growing demand in the region for quality third-party engine and compression equipment overhaul and repair services, including parts and component sales. Mike Boze, chief executive officer of Desert Power, said, "Desert Power will provide an innovative approach to repairs and remanufacturing, utilizing state-of-the-art metal spray technology and OEM-sourced parts. Our aim is to work with our customers in an effort to provide maximum equipment uptime." About Mesa Venture: Mesa Venture is a Santa Fe-based early-stage venture capital firm which invests in small businesses with high growth potential in industries and geographic areas underserved by other capital providers. The firm targets investment opportunities ranging from $500,000 to $2 million. The New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). Growth Fund I, L.P. is Mesa Venture's pilot fund, and is funded by the New Mexico Small Business Investment Corp. For more information about Mesa Venture, see www.mesaventure.com. About Altira: Altira is an early-stage venture capital firm focused on energy technology. Based in Denver, the firm is investing from its fourth fund. Altira looks for promising technology companies in the areas of oil and gas, energy information technology, electric power generation, transmission and distribution, and renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. . The firm targets opportunities in first institutional equity rounds with initial investments of $500,000 to $3 million. For more information about Altira, see www.altiragroup.com. |
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