SiliconBeat

Pete Cartwright, the founder and ex-CEO of Calpine, said Tuesday that a new company he has co-founded that employs technology to “produce reliable electricity and less greenhouse gas” has lined up its first round of venture funding from Sequoia Capital, who is leading the round with Bay Partners, with additional money from Redpoint Ventures.

Cartwright, who was fired from Calpine in November 2005 prior to that company’s bankruptcy filing, joined with another ex-Calpine executive Tom Mason to found Advanced Power Projects, a Fremont company that uses technology that captures “waste heat” from combustion gas turbines and turns it into additional power without the need for a steam turbine, condenser or cooling tower,” according the company’s Web site

The level of funding was conspicuously absent from the press release announcing the news and we have yet to hear back from the company as to why.

Other former Calpine executives working at the new company are its former vice chairman, Ann Curtis, who heads HR, and its former VP of operations, Fred Manuel, who is the company’s senior VP of engineering.

John Redding, formerly with General Electric’s nuclear energy division, heads up marketing and sales, while former Orrick, Herrington & Sutclif lawyer Mike Ross is the new company’s chief financial officer and general counsel.