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A Fossil-Fuel Startup in California Is Using Solar’s Playbook

  • Concentric Power gets backing for $100 million of new projects
  • Systems can power farms, data centers, chemical plants
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Photographer: Daniel Acker/Bloomberg

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A California startup is applying the Big Solar playbook to fossil fuels.

Concentric Power raised funds to support $100 million of natural gas-fired generating systems it plans to offer to commercial customers using the same leasing model that companies including Sunrun Inc. and Tesla Inc. use for rooftop solar panels.