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October 2, 2007Angstrom Power
Created: 2001
Location: North Vancouver, B.C.
Technology: High-energy density micro fuel cells for portable devices
Funding: $21 million
Key investors: VantagePoint Venture Partners, Ventures West, GrowthWorks Capital, Chrysalix Energy, OPG Ventures and Micro-Generation Technology Fund.
Key Ballard alumni: Olen Vanderleeden (director of business development), Chrysalix Energy, Ventures West
PolyFuel
Created: 1999
Location: Mountain View, Calif.
Technology: Membranes for direct-methanol fuel cells
Funding: $50 million (private); $40 million (public)
Key investors: CDP Capital, Mayfield, Ventures West, Technology Partners, Intel Capital, Chrysalix Energy, Conduit Ventures Ltd., KTB Ventures.
Key Ballard alumni: Jim Balcom (CEO and president), Rick Cooper (VP, business development), Henry Voss (VP, engineering), Ventures West, Chrysalix Energy
QuestAir Technologies
Created: 1996
Location: Vancouver, B.C.
Technology: Gas-purification systems (originally focused on purifying hydrogen for fuel cells)
Funding: $60 million (private): $33 million (public)
Key investors: Ballard Power; Ventures West, GrowthWords Capital, PenderFund Capital Management
Key Ballard alumni: Michael Rosenberg (director), Michael Brown of Chrysalix Energy (former chairman of QuestAir; first venture investor and former director of Ballard), David Berkowitz of Ventures West (Ballard investor and former director of QuestAir)
Tekion
Created: 2003
Location: Burnaby, B.C.
Technology: Hybrid battery/formic acid micro-fuel cell for mobile devices
Funding: $19 million
Key investors: Motorola Ventures; angel investor/chairman Allen Born
Key Ballard alumni: Neil Huff (CEO and president), David McLeod (VP, marketing and business development)
DPoint Technologies
Created: 2004
Location: Vancouver, B.C.
Technology: Humification systems for fuel cells (technology licensed from Ballard)
Funding: Unknown
Key investors: James Dean (founder, CEO and former KPMG consultant who had Ballard as a client. Along with Ventures West, he was also a major investor and an executive with Greenlight Power, a supplier to Ballard.)
Key Ballard alumni: Erich Metten (head of manufacturing engineering), James Dean (CEO)
NxtGEN Emission Controls
Created: 2004
Location: Burnaby, B.C.
Technology: Diesel-engine emission-control systems
Funding: More than $4 million
Key investors: GrowthWorks Capital, Yaletown Venture Partners, Sustainable Development Technology Canada
Key Ballard alumni: Yaletown's Kirk Washington (acting CEO)
General Hydrogen Corp.
Created: 1999 (purchased for $10 million by Plug Power Inc. in May)
Location: Richmond, B.C.
Technology: Fuel-cell power packs for forklifts
Funding: Unknown
Key investors: General Motors, GreenShift Corp., Air Products and Chemicals Inc., Bruce Power and Court Holdings
Key Ballard alumni: Craig Greenhill (VP, development) Ed Mufford (VP, engineering), Geoffrey Ballard (chairman and co-founder), Paul Howard (vice-chair)
Cellex Power Products
Created: 1998 (purchased for $45 million by Plug Power Inc. in March)
Location: Richmond, B.C.
Technology: Fuel-cell technology for forklifts and other industrial vehicles
Funding: Unknown
Key investors: Ventures West, GrowthWorks, Conduit Ventures, Technology Partnerships Canada, Sustainable Development Technology Canada.
Key Ballard alumni: Adrian Corless (VP, technology), Michael Brown (former director)
Xantrex Technology
Created: 1983
Location: Vancouver, B.C.
Technology: Advanced power electronics
Funding: Exceeds $100 million (private); $67 million (public)
Key investors: GrowthWorks, Oaktree Capital Management, GFI Energy Ventures, NB Capital Partners, Royal Bank Ventures, Business Development Bank of Canada, HSBC Capital, Ontario Municipal Employees Retirement System
Key Ballard alumni: Mossadiq Umedaly (chairman, co-founder and former CEO), Bernd Kohlstruck (VP, wind)
BALLARD SUGAR DADDIES - i.e. the VCs
Chrysalix Energy
Created: 2001
Location: Vancouver, B.C.
Ballard Alumni: Mike Walkinshaw and Michael Brown
Ballard Baby Investments: Angstrom Power, Polyfuel
NOTE: Investor of Ballard money
Yaletown Venture Partners
Created: 2001
Location: Vancouver, B.C.
Ballard Alumni: Kirk Washington
Ballard Baby Investments: NxtGEN Emission
Ventures West Management
Created: 1968
Location: Vancouver, B.C.
Ballard Alumni: Michael Brown (founded Ventures West and was president until he left in 1999)
Ballard Baby Investments: Angstrom Power, Polyfuel, QuestAir, Cellex Power
NOTE: Made first venture investment in Ballard Power