Tuesday, August 28, 2007

EnerTech, Secure Energy, Reklaim, Thermilate, and other news

  • Well-known energy tech venture firm EnerTech Capital has raised a $75mm first close toward a $250mm targeted third fund, according to VentureWire today. LPs include CalPERS, Dow Ventures, Kuwait Petroleum, and Masdar. Another LP, Acorn Factor, a publicly-traded investment group, expects to be occasionally co-investing with EnerTech on their expansion-stage energy deals.
  • Jonathan Shieber reported in Friday's CTI that Secure Energy Inc. has raised $5.5mm of a targeted $8mm round of financing. Secure Energy is converting a Caterpillar manufacturing site in Decatur, IL into a coal gasification plant.
  • PE Week Wire reported on Monday that tire / oil / etc. recycler Reklaim has raised $7mm of a $10mm Series B, led by Goldman Sachs.
  • VWire reported on Friday that UK-based Thermilate, which sells a paint additive with insulative benefits, has raised a $1.5mm round of financing, with participation by Enterprise Ventures on behalf of the Coalfields Enterprise Fund.
  • In the continued pursuit of a strong New England cleantech cluster, Xconomy is reporting that the New England Energy Innovation Collaborative (NEEIC) and the newly-formed Clean Energy Council will be joining forces. [note: my firm @Ventures is a member of NEEIC, and I'm on the advisory board for the CEC] Speaking of the NE cleantech cluster, here's a nice profile of GreatPoint.
  • Cleantech investors in the news: Ray Rothrock lays out Venrock's investment strategy in "new electrons".
Other news and notes: A quick nanotech overview... 190 non-Si PV developers worldwide? Wow... A nice column on Demand Response... An interesting interview with Hunter Lovins... Underwater turbines getting set for launch in Ireland (tip of the hat to Karen Shilo for sending in that one)... Finally, an amusing story on continued efforts toward cold fusion -- but interestingly, despite what's described in the article there have been some serious venture-backed efforts to commercialize warm fusion lately.


Clean Energy Entrepreneurship Two-For-One on September 11!

Foley Hoag (www.foleyhoag.com) has graciously offered to host and sponsor at their Emerging Enterprise Center in Waltham the kick-off event for the MIT Enterprise Forum Energy Special Interest Group followed by the next REBN-East networking event. Entrepreneurs, come to learn about new business opportunities from experts at the US Army Natick Labs during the MITEF ESIG program and your business cards and elevator pitches for the networking afterwards. More details below!

Registration/ RSVP

If you are attending the MITEF ESIG Event, please register at the MITEF website (http://www.mitforumcambridge.org/EnergySIG/energysept07.html)

If you plan to attend ONLY the REBN-East Networking Event, please RSVP to Rob at cleantechvc@gmail.com.

And, as always, please forward this invitation to any of your renewable energy research and business colleagues that you think might be interested!

Program Information:

REBN-East, the MITEF Energy Special Interest Group, and the Massachusetts Technology Transfer Center are pleased to announce a joint program:

4:30 – 6:30: MITEF Energy SIG Tech-In Program #1: US Army Natick Labs

6:30 on: REBN-East Happy Hour

Do you want to start a clean energy company, but don’t know where the market opportunity lies? Do you have an interesting clean energy technology but are looking for new markets where it might be used? Do you want to enter your exciting new technology in the 2008 Ignite Clean Energy Competition but don’t know what product to target first? The Energy Special Interest Group at the MIT Enterprise Forum of Cambridge is pleased to present its fourth year of programming, which will be focused on Market Pull.

For our first event of the year on September 11, 2007, several Team Leaders from the US Army Labs at Natick will present the energy needs of the Warfighter/Soldier in several critical areas:

(1) Lightweight energy sources for individual warfighters;

(2) Energy sources for unit organizations/collective protection including high efficiency lighting and field photovoltaics;

(3) Combat Feeding Equipment and System Energy Sources; and

(4) Propulsion and power sources for individual Warfighter robotic applications (SUAV)

Our presenters:

· Dr. Lynne Samuelson, Chief Scientist, Office of the Director

· Mr. Don Pickard – DoD Combat Feeding Directorate, "Combat Feeding Equipment and System Energy Sources."

· Mr. Steve Tucker, Shelter Technology, Engineering & Fabrication Directorate, and Barry DeCristofano, Lead for the E-textiles program, "Flexible Photovoltaics," (power shades, battery chargers, etc.)

· Ms. Jean Hampel, Shelter Technology, Engineering & Fabrication Directorate, "High Efficiency Shelter Lighting and Insulation.

· Mr. Kailash Shukla, Technology, Systems & Program Integration Directorate, "Soldier Power Needs."

Our presenters will also discuss how to work with these labs to develop the technology they want and need.

This event is a joint program with the Massachusetts Technology Transfer Center with assistance from Grayhead Associates, the Massachusetts Defense Technology Initiative (MassDTI) and the Massachusetts Hydrogen Coalition (MHC).

The MITEF Energy SIG events are made possible by the Massachusetts Technology Collaborative (MTC).


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