Cleantech Investing: Tuesday deals and other notes

Wednesday, November 16, 2005

Tuesday deals and other notes

Last week, Solar Integrated Technologies announced they raised a $37M private placement of 6.5% 2010 convertible notes. Goldman Sachs and Crestview Capital participated. SIT is developing building-integrated photovoltaic (BIPV) systems, which many point to as the future format for solar power -- the thinking being that BIPV can lead to lower PV system costs by helping to reduce the costs of system installation (a significant portion of the total system costs), if the right form function can be developed. SIT is traded on the AIM.

PE Week Wire reported yesterday that BioCare Solutions Ltd., a developer of environmentally-friendly household cleaning products, raised Gbp 4M. BioCare also anticipates an AIM listing.

Metara, which provides systems for inline chemical metrology, raised an $11.5M Series E round. VantagePoint Venture Partners and Cipio Partners led the round, which also included Compass Venture Partners and Merifin Capital NV. Metara's systems are used to monitor the use of chemicals in semiconductor manufacturing, so that the use of chemicals is minimized and processes are optimized. Metara is an example of where manufacturing technologies can overlap with sensors and monitoring, with resource efficiency benefits.

Seahorse Power Company announced a $1.1M raise of venture capital and angel funds, with funders including the Massachusetts Green Energy Fund and Jim Gordon, President of Cape Wind Associates. Seahorse's solar powered trash compactors are designed for outdoor applications.

Here's an interesting article on the potential for coal-powered fuel cells.

Last but not least, here's a nice interview with fellow cleantech investor Vincenzo La Ruffa that appeared in Red Herring a while back -- nice work, Cenzo.

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The term "cleantech" refers to technologies that:

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