Thursday, March 01, 2007


Recent deals in the news:
  • VentureWire reported earlier this week that CoalTek raised a $33mm Series C, led by Lightspeed Venture Partners, with participation by existing investors Braemar Energy Ventures, Draper Fisher Jurvetson, Element Venture Partners, Technology Partners, and Warburg Pincus. There's been a bit of controversy lately over whether coal-related technologies can be considered "cleantech" or not. However one cares to classify it, in the case of CoalTek, Jonathan Shieber reports in VentureWire that "according to the company, the coal it treats has a BTU content that is up to 33% higher than normal coal, while at the same time has 70% less sulfur dioxide content than untreated coal."
  • ACAL Energy, which is developing "low temperature fuel cell cathode" technology, raised GBP1.6mm from Synergis Technologies, Rising Stars Growth Fund, the North East Co-Investment Fund, and the Carbon Trust. The company claims their technology will allow fuel cells to operate five times longer than currently possible.
Cleantech investors in the news:
  • CalPERS announced last week that they are committing $400mm to Pacific Corporate Group, with the funds to be specifically targeted to cleantech investments.
  • Nomura International plc recently announced that Whitney Rockley has joined the firm as Principal of New Energy and Clean Technology Ventures.
Other news and notes:
  • Most readers are probably already aware of the critical role of green power issues in the recently announced TXU buyout. For venture-stage investors, the importance is that it demonstrates just how seriously utilities are taking cleantech these days -- these technologies aren't just on the fringe anymore. Wind power, broadband over powerline, clean coal ("cleantech" or not) are all emerging energy technology areas that have played a major role in the transaction...


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