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Keronite, Ze-Gen, Start Green, and various backlogged news items

Rob Day: August 29, 2006, 10:34 AM
  • Keronite, which is using a plasma electrolytic oxidation process to improve the surface characteristics of aluminum and magnesium so they can be used in place of heavier steel, raised a GBP10.2mm private placement. The major funders included Hotbed business angels, RAB Capital, Bank of Scotland Growth Equity, Quester, Fidelity, and New Star. GBP5.5mm will be used to pay off shareholder loans and bridge financing.
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Used Cardboard Boxes, Waste Remedies, and Altira

Rob Day: August 28, 2006, 8:49 PM
  • Waste Remedies, a consulting firm that focuses on waste disposal optimization for property managers, manufacturers and retail / restaurants, announced a raise of $8.5mm from Advantage Capital Partners, Southwest Bank of St. Louis, and management. Advantage provided $2.3mm of the raise.
  • In cleantech investor news, today's VentureWire mentioned that energy tech investor...
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Tonight’s REBN happy hour: A sign of the times

Rob Day: August 22, 2006, 9:54 PM


Thanks very much to the Antenna Group and Nick Allen for pulling together a terrific happy hour tonight. Many good renewables conversations flowing around the room.

They said there were 70 rsvps, but it certainly seemed like the crowd was bigger than that.

One of the better REBN events so far. Next time we'll have to have door prizes.
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Biorem, Biox and other news

Rob Day: August 22, 2006, 2:44 PM
  • (self-promotion alert) It was recently announced that Expansion Capital Partners' Clean Technology Fund II, LP has agreed to purchase an additional 1,700,000 shares in Biorem Inc. Biorem's proprietary biofiltration media is used to control air pollution in municipal and industrial applications. They're publicly-traded on the TSX Venture (BRM.V). This agreement would bring Expansion Capital's total ownership up to 25.9% of outstanding shares.
  • Courtesy of Tyler: Another Canadian cleantech company, Biox Corp., raised C$70mm, including C$48mm from Birch Hill Equity Partners. The company's proprietary biodiesel production process has already been implemented in one commercial scale...
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Infinite Power and infinite power

Rob Day: August 21, 2006, 6:34 PM
  • PE Week Wire reported today that thin-film battery developer Infinite Power Solutions, which has applications in smart cards, RFID, and other uses, raised $35mm in a Series A-1. PEWW notes that shareholders (both new and any pre-existing) include Core Capital Partners, Polaris Venture Partners, SpringWorks LLC, D.E. Shaw, Advanced Energy Technology, Dow Corning and Symmorphix Inc. Dow and UniSource Energy put in $5mm back in 2003, and also provided some coatings technology at that time.

Other fun news: An Irish microgenerator company, Steorn, put a big ad in The Economist this past week challenging "the world's scientists" to test their claims that they've developed a generator...
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Hycrete, Kergy and other news

Rob Day: August 17, 2006, 3:46 PM
  • Hycrete, which provides waterproofing and anti-corrosion materials for concrete, announced a Series B financing (amount undisclosed) by NGEN and Rockport. The company's additives can eliminate the need for membranes and other materials in construction, as well as providing other benefits such as extending structural lifetime, etc. Notably, green architect (and "cradle to cradle" proponent) Bill McDonough is an advisor to the company. This also seems like a useful excuse to point out this article on green buildings in NYC.
  • PE Week Wire today notes that Khosla Ventures has invested a $3.3mm Series A into a "maker of alternative energy equipment", Kergy Inc. There's little...
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SensorTran, Plextronics, and REG

Rob Day: August 15, 2006, 9:54 AM
  • (self-promotion alert) Fiber optic sensor developer SensorTran announced a $5.5mm Series B round of financing, led by Expansion Capital Partners and including participation by WHEB Ventures and Stonehenge Capital. There was a good description of the company's technology and products, as well as some of the applications it can address, in this story from last thursday (note: access may req. free registration). Suffice to say, recent news headlines in energy infrastructure (examples here and here) have certainly highlighted some of the potential uses of SensorTran's technology. Sensors and monitoring systems remain a key enabler for a broad range of cleantech applications, and...

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About Cleantech Investing:

Rob Day is a Partner with Black Coral Capital, based in Boston.  He has been a cleantech private equity investor since 2004, and acts or has served as a Director, Observer and advisory board member to multiple companies in the energy tech and related sectors.  Rob was a co-founder of the Renewable Energy Business Network (www.rebn.org), a non-profit organization which was acquired in 2009 by the Clean Economy Network.  The views expressed on this blog are those of Rob, not necessarily the views of any of his colleagues and affiliated organizations. Contact Rob at .(JavaScript must be enabled to view this email address).

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