Tuesday, June 19, 2007

Silicon Valley Solar gets $10 mln venture round

June 18 - MarketWatch.com - Silicon Valley Solar on Monday said it raised $10.2 million in venture capital in its first round of financing. The Series A funding will be used for the process development, equipment, materials and staffing required to mature the company's Sol-X technology to commercial form. Bessemer Venture Partners led the round. Silicon Valley Solar also closed its acquisition of NuEdison. "We are very enthusiastic about SV Solar's approach to this space," said Justin Label, Cleantech partner for Bessemer Venture Partners. SV Solar is a manufacturer of flat plate internal concentrator solar modules.

Thursday, June 14, 2007

Alternative energy projects draw investors

June 13 - Sioux City Journal - Investors are willing to provide a surprising amount of financing for solar power and other clean energy projects, a financial expert told the Western Governors' Association on Monday.

"The amounts of investment are staggering," said Ray Lane, managing partner of a venture capital firm based in California. "There are plenty of investors who are not weak of heart who are ready to do that.

"Ten governors and the premiers of two Canadian provinces are meeting in Deadwood to discuss global warming and clean technology for energy production.Lane, managing partner of Kleiner, Perkins Caufield and Byers, said venture capital firms will fund about $30 billion in new technology enterprises this year, and $3 billion of that will be alternative energy technology. Read More.

Intelligent Energy raises £8.5m in funding for fuel cell development

June 13 - Fuel Cell Today - Intelligent Energy has secured more funding to enable the further development of its fuel cell applications, it has been reported.

According to the Free Radicals clean technology investment newsletter, Henri Winand, chief executive of the Loughborough-based firm, announced at last month's Essential Cleantech conference in London that investors including Credit Suisse Securities, Black River, Meditor Capital Management and Evolution Placements Corporation have backed Intelligent Energy with a combined £8.5 million in funds.

"I've always been convinced that their technology is ahead of everyone else's in the [proton exchange membrane] sector," commented Alan Walker, manager of the Black River Commodity Clean Energy Investment Fund, on his decision to support Intelligent Energy in Free Radicals.

Intelligent Energy's Environmentally Neutral Vehicle, which is powered by a 1kW fuel cell named CORE, is now set for series production in the second half of this year.

Advanced Technology Ventures Adds Cleantech & Telecommunications Professionals to its Investment Team

June 13 - American Venture Magazine - Advanced Technology Ventures, a bi-coastal venture capital firm that invests in information technology, healthcare and cleantech companies, today announced that Andrew Friendly and Gavin Kim have been named Senior Associates in the firm's Waltham office.

Andrew and Gavin bring to ATV strong technical acumen and successful careers in the areas of clean technology and other energy-related businesses, and telecommunications, specifically wireless and mobile devices. Each has established a strong foundation of experience in business development, sales, strategic consulting, operations, and finance. Read More.

Tuesday, June 12, 2007

US venture capitalists target green energy investments

June 10 - GulfNews.com - San Francisco: US venture capitalists are targeting green energy investments in high-tech insulation, powerful light-weight batteries and other cutting-edge niches beyond headline grabbers such as solar power and biofuels.

Venture capital executives gathered at a clean technology investment conference in San Francisco this week said they are backing energy-efficiency projects in sectors such as offshore oil and gas, military and aerospace, television broadcasting, emergency response, and in-home power generation.

In the first quarter, venture capitalists invested $264 million in US clean technology such as alternative energy, pollution and recycling, power supplies and conservation, according to a MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association. It was based on data from Thomson Financial. Read More.

Clean Technology Investment Surges amidst Global Warming

American Venture Magazine - Investments in the clean technology sector soared in 2006, as venture capitalists increased spending by 78 percent to $2.9 billion. Experts say the market is hot amidst concern about global warming, higher energy prices, improved technology, and public policies enacted at the state and national levels.

The findings were released today in a new study by the Cleantech Network, a Cleantech Group Company and Environmental Entrepreneurs (E2). The full report, "Cleantech Venture Capital: How Public Policy Has Stimulated Private Investment," is available at www.e2.org and www.cleantech.com.

"It's a bull market for clean technology," said Bob Epstein, E2 co-founder and study co-author. "Investors see favorable investment opportunities for renewable energy and other technologies that offer solutions to global warming."

The report found that cleantech growth in 2006 was driven almost entirely by the energy technology sector. A significant increase in investments during the second and third quarters was driven by capital targeted for companies moving into production. Cilion, Altra, Bloom Energy, Renewable Energy Group, and Nanosolar – all of which represent new renewable energy technology or biofuels – collectively accounted for more than $600 million in investment in 2006. Read More.

VCs worry about Dems, cleantech

June 8 - Red Herring Blog - A gathering of venture capitalists and those who cater to them in San Francisco Thursday this morning yielded positive karma about the state of their community but predictions of dark clouds about taxation under a Democrat-led national government and the viability of some cleantech sectors.

The setting was the posh environs of the Four Seasons Hotel, where several hundred investors and others were meeting at the 18th annual Venture Capital Investing Conference. One of the first speakers was Dixon Doll, general partner of Menlo Pak venture firm DCM and the chairman-elect of the National Venture Capital Association. Read More.