Cleantech Investing: Catching up on the news

Tuesday, October 10, 2006

Catching up on the news

Many deals and announcements in cleantech investing over the past couple of days:

VantagePoint Venture Partners announced they have raised a new fund at $1B, and plan to raise $150mm for investments in clean technologies.

NASA has devoted $75mm to launching Red Planet Capital, which is a non-profit effort to provide venture capital for companies whose technologies are applicable for space travel. Solar PV, fuel cells, batteries, sensors, drinking water and wastewater treatment all come to mind as possibilities, as well as various advanced materials, so Red Planet is now entering the ranks of cleantech investors.

Solar concentrator startup GreenVolts revealed that they have commitments for $250k toward a seed round. The company, which was a winner in the recent California Clean Tech Open, is currently lining up Series A investors as well.

PE Week Wire revealed a couple of cleantech financings today, based upon regulatory filings. Wilson TurboPower, a manufacturer of heat exchange systems, has raised $2mm of an up to $3.92mm Series A -- this follows on their announcement (note: pdf) that they $815k by back in May, and now Ignite Technology Ventures is also noted as an investor. Also, PEWW notes that Makani Power LLC has raised a $10mm Series A from Google -- the company is an "alternative energy" startup out of Squid Labs.

ICP Solar Technologies of Quebec announced a reverse-merger-go-public financing of $5mm from unnamed institutional investors, with $5mm of warrants also issued. The company will now be traded OTC. The company's customers for their thin-film solar products include automakers, notably (solar-powered Winnebagos, e.g.).

Other news and notes: Fun quote re: biofuels: "If we wanted to build a 100 million-gallon plant, we would have venture capitalists calling us up. I'm looking for someone investing a half a million bucks and to see how it goes"... There are now apparently 136 venture-backed, independently-operating nanotech startups around the world... News of an upcoming cleantech conference in Tel Aviv... As someone who's been beating the drum for innovative, technology-based energy efficiency opportunities for a while now, I am very glad to see this news.

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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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