Cleantech Investing: EcoSMART Series B, Enpirion Series C

Thursday, July 06, 2006

EcoSMART Series B, Enpirion Series C

EcoSMART, which is developing pesticides based upon natural plant oils, announced a $9mm Series B round, led by RockPort and DFJ Element. Existing investors (from a $6mm 2004 Series A) included Cordova Ventures, Early Stage Partners and Delta Capital (it's unclear from the PR if the existing investors participated in the current round, although it's interesting to note that Michael DeRosa probably brought the deal to Element from Cordova, where he was previously). VentureWire had a nice little profile of the company on Monday, for those with a subscription... The company reports they have a significant patent portfolio after 14 years of operations to date. The funds will be spent on further development and commercialization.

Enpirion announced a $20mm Series C led by led by BA Venture Partners, a previous investor. Other investors include Canaan Partners, Columbia Capital, Intel Capital, RRE Ventures, SAS Investors and Xilinx. Why is a fabless semiconductor, DC to DC power conversion company "cleantech"? They're posted here for inclusiveness, since their systems claim to be able to double battery life for mobile devices. Readers will decide for themselves how that might fit into their own categorizations of energy efficiency and energy storage technology...

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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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