Big week for cleantech deals
- Energy efficiency is the new "IT" sector (apologies for a very bad pun): Computer/server efficiency software provider Verdiem has raised a $8.33mm round of financing led by Kleiner Perkins, and including participation by The Westley Group, Phoenix Partners, Falcon Partners, Catamount Ventures, Angeleno Group, and Trevor Traina (angel). The company's software allows computer system administrators to remotely override PC users when they re-set their efficiency settings (turning off "sleep" mode, for example).
- Thin-film (CIGS) solar developer SoloPower raised a $30mm Series B, led by Convexa Capital, and including participation by Scatec AS and Spencer Energy AS. Existing investors Crosslink Capital, Firsthand Capital Management and Musea Capital also took part in the financing. VentureWire noted that the team had had a term sheet with a "very reputable" (note: VWire's quote marks) U.S. VC before going with this mostly Norwegian group of backers.
- Another thin-film solar startup (this time using amorphous Si), MWOE Solar, announced a $7mm Series A led by Emerald Technology Ventures, and including participation by NGP Energy Technology Partners.
- Linking themselves with the energy efficiency angles of RFID and sensors, Germany-based Nanotron announced an EUR 10mm round of financing led by zouk ventures, and including existing investors Polytechnos, Danfoss, and IBB Beteiligungsgesellschaft - VC Fonds Berlin.
- Another sensor company, SpectraSensors, which manufactures tunable diode laser-based sensors for gas analysis, announced a $14mm Series C. Nomura's New Energy and Clean Technology Ventures group led the round, which also included CTTV Investments (Chevron's venture capital arm) along with existing investors American River Ventures, Blueprint Ventures, and Nth Power. The firm has been making strong strides in the optical sensors space and is one of the best examples of telecommunications tech being re-purposed into advanced sensing technologies with cleantech applications. The deal is also one of the first public announcements for Nomura's new cleantech group, whose team includes cleantech venture veterans Russell Pullan and Whitney Rockley. So cheers all around...
- 6N Silicon, which is developing a method for less expensive production of solar grade silicon, made a public announcement of their C$6mm Series A. Ventures West and Yaletown Venture Partners led the round. The company also announced that they've taken in C$4mm from SDT Canada to help build out a demonstration line.
- Cerion Energy, which is developing a diesel fuel additive with efficiency and pollution reduction benefits, announced a $1.2mm Series A financing. Braemar Energy Ventures led the round, which also included Excell Partners.
- VentureWire reported that Korean brushless DC motor developer SNTech has taken in a $1.2mm or $1.5mm (some discrepancies in the article) seed round of financing from SAIL Venture Partners, which took a 25% ownership stake in the company. The company had $2.5mm in revenue in 2006 and offers cheaper and more efficient motors versus incumbent designs. VWire also revealed this past week that SAIL is in the process of raising their first institutional LP-backed fund, and that the firm has several European such backers committed to what is targeted to be a $100mm total fund raise.
July 19th, at Flat Top Johnny's in Kendall Square, 6:30pm.