Cleantech Investing: News among cleantech investors

Friday, December 09, 2005

News among cleantech investors

NGP Energy Technology Partners, a fund managed by NGP Energy Capital Management, announced a final close on a $148M fund to invest in various energy technologies, including clean energy technologies. The firm also announced closes on two other funds, totaling $1.7B in capital. NGP ETP invests both growth capital and buyout capital.

The IFC is getting into cleantech venture capital, with the announcement (note: pdf) of the formation of the $14M Sustainable Energy Fund, to be managed by E+Co. The debt and equity fund will be used to finance seed stage and growth equity for sustainable energy projects and energy service companies ("ESCOs") in Central America, Brazil, China, and Southeast Asia. E+Co. will also provide technical assistance, paid for by the IFC. The fund will be allocated 25% to early stage investments and 75% to later stage investments. Most of this will clearly be project financing, but the investments in ESCOs would more classically be thought of as venture capital.

There's a good interview with Kleiner Perkins' Bill Joy in the latest Fast Company. He especially highlights his investment thesis in clean energy technologies. Notable quote: "I don't think there will be one energy company that's as significant as a Netscape. [But] there may be more than a couple as significant as Google."

[12/9 update: In other cleantech investor news, @Ventures announced that Matt Horton has joined the firm as a Principal. Matt comes over from Garage Technology Ventures, where he had helped them make investments in Hoku Scientific, Miasole, and ClearFuels Technologies.]

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What is "cleantech"?

The term "cleantech" refers to technologies that:

- 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

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