A news and commentary blog for those interested in venture capital in clean technologies.
Wednesday, April 06, 2005
Two cleantech deals: Oryxe and Protonex
Oryxe, a promising fuel-additive company, announced a $2.5m Series C add-on raise, apparently led by Ridgewood Capital. I haven't seen much information about the raise other than a brief mention, but here is Oryxe's website. They're strongly positioned in regulation-driven markets, specifically "non-attainment" air quality regions, where local regulations are mandating significant changes to fuel mixes. Instead of extremely costly changes at the refinery -- which supplies much wider regions than the regulatory-affected regions -- Oryxe's fuel additive enables similarly improved emissions performance, and can be added closer to the point of use. One interesting thing about this deal: Ridgewood Capital hasn't been a big cleantech investor to date, but in the last few months they've invested in Oryxe and Comverge. Another new entrant to the cleantech space...
Protonex announced a $9m second round. The fuel cell company's round was led by existing investors Conduit Ventures Ltd., SAS Investors, Solstice Capital and Commons Capital. New investors are Parker Hannifin Corporation, Contango Capital Management and the Massachusetts Green Energy Fund. The company is as much a "homeland defense" play as a cleantech play, as the fuel cells are used mainly in military applications to date (although they claim to be targeting commercial applications as well).
- Use energy, water and other raw materials more efficiently and productively,
- Deliver equal or superior performance,
- Improve customer profitability, through cost reduction and/or increased revenues, and
- Create less waste or toxicity
...compared to incumbent technologies
Unique visitors to date
@Ventures is not responsible for any of the content of this website, nor do they necessarily agree with the viewpoints expressed within
ACCEPTANCE OF TERMS
This site ("Cleantech Investing") and its contents are provided to you, subject to the following Terms of Service ("TOS"), which may be updated by us from time to time without notice to you. You can review the most current version of the TOS at any time at http://cleantechvc.blogspot.com. If you do not agree to these TOS, please do not use Cleantech Investing. We reserve the right, at our discretion, to update or revise these TOS. Please check the Terms periodically for changes. Your continued use of this site following the posting of any changes to the TOS constitutes acceptance of those changes.
THIRD PARTY SITES
Cleantech Investing provides links to other Websites on the Internet. Cleantech Investing does not assume any responsibility for such content and makes no express or implied warranty about the accuracy, copyright compliance, legality, merchantability, or any other aspect of the content of such sites. Cleantech Investing is not responsible or liable for any advertising, products, or other materials on or available from such Websites or resources. The inclusion of such a link does not imply endorsement of the Websites by Cleantech Investing or any association with their operators.
CREATIVE COMMONS LICENSE
You acknowledge and agree that all content and materials available on Cleantech Investing are protected by copyrights, trademarks, service marks, patents, trade secrets, or other proprietary rights and laws. All original content on Cleantech Investing is licensed under a Creative Commons license and is subject to the terms and conditions of the license at http://creativecommons.org/licenses/by/2.0/ ("Creative Commons License"). By submitting content to Cleantech Investing, you agree that it is subject to the same terms and conditions as Cleantech Investing's Creative Commons License.
OPINIONS EXPRESSLY THOSE OF AUTHORS
The opinions expressed in Cleantech Investing state only those opinions of the author of such post (as is clearly designated). While the authors of Cleantech Investing are current or former venture investors with various venture capital partnerships, the opinions they express in Cleantech Investing do not necessarily reflect the opinions of such venture capital partnerships and should not be taken as such.
DISCLAIMER OF WARRANTIES
YOU EXPRESSLY UNDERSTAND AND AGREE THAT:
a. YOUR USE OF CLEANTECH INVESTING IS AT YOUR SOLE RISK. CLEANTECH INVESTING IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. CLEANTECH INVESTING EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
b. CLEANTECH INVESTING MAKES NO WARRANTY THAT (i) IT WILL MEET YOUR REQUIREMENTS, (ii) IT WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (iii) THE INFORMATION THAT MAY BE OBTAINED FROM THE USE OF CLEANTECH INVESTING WILL BE ACCURATE OR RELIABLE, (iv) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL OBTAINED BY YOU THROUGH CLEANTECH INVESTING WILL MEET YOUR EXPECTATIONS, AND (v) ANY ERRORS IN THE SOFTWARE WILL BE CORRECTED.
c. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU THROUGH OR FROM CLEANTECH INVESTING SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THE TOS.
LIMITATION OF LIABILITY
YOU EXPRESSLY UNDERSTAND AND AGREE THAT CLEANTECH INVESTING SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF CLEANTECH INVESTING HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM: (i) THE USE OR THE INABILITY TO USE CLEANTECH INVESTING; (ii) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION OR SERVICES OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM CLEANTECH INVESTING; (iii) UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; (iv) STATEMENTS OR CONDUCT OF ANY THIRD PARTY ON CLEANTECH INVESTING; OR (v) ANY OTHER MATTER RELATING TO CLEANTECH INVESTING.
EXCLUSIONS AND LIMITATIONS
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE ABOVE LIMITATIONS OF SECTIONS 4 AND 5 MAY NOT APPLY TO YOU BUT ONLY TO THE EXTENT REQUIRED BY APPLICABLE LAW.
SPECIAL ADMONITION REGARDING FINANCIAL INFORMATION
You understand that Cleantech Investing is furnished for informational purposes only, and that no mention of a particular company or security in Cleantech Investing constitutes a recommendation to buy, sell, or hold that or any other security, or that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. You further understand that Cleantech Investing will not advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. To the extent any of the information contained on Cleantech Investing may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.
Cleantech Investing may contain opinions from time to time with regard to securities and any or all contributors to Cleantech Investing, or their affiliates, may hold positions in securities. The contents of Cleantech Investing are written by current or former venture investors. It is their business to buy and sell securities. Cleantech Investing will use reasonable efforts to disclose when an author writes about a company in which that author has an interest, or about a competitor thereof. Cleantech Investing's principal authors are current or former venture investors with their respective partnerships, so you should assume that the authors have an interest in all companies in their partnerships' publicly disclosed portfolios, which can be viewed at such partnerships' websites. Cleantech Investing will make no efforts to update past posts to reflect current interests.
CLEANTECH INVESTING IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY, AND NO CONTENT INCLUDED IN CLEANTECH INVESTING IS INTENDED FOR TRADING OR INVESTING PURPOSES. CLEANTECH INVESTING AND ITS LICENSORS SHALL NOT BE RESPONSIBLE OR LIABLE FOR THE ACCURACY, USEFULNESS OR AVAILABILITY OF ANY INFORMATION TRANSMITTED OR MADE AVAILABLE VIA CLEANTECH INVESTING, AND SHALL NOT BE RESPONSIBLE OR LIABLE FOR ANY TRADING OR INVESTMENT DECISIONS MADE BASED ON SUCH INFORMATION.
You agree to indemnify and hold Cleantech Investing, and its affiliates, officers or other partners, and employees, harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of content you submit, post, transmit or make available through Cleantech Investing, your use of Cleantech Investing, your connection to Cleantech Investing, your violation of the TOS, or your violation of any rights of another.
With thanks to David Hornik's VentureBlog for the above legal language
Copyright 2007, Robert Day. Not for re-printing or re-use without permission.