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Codon Devices and other news

Rob Day: December 27, 2006, 9:46 AM
Codon Devices, which has developed a platform for the rapid design and genetic sequences, announced a $20mm Series B led by Highland Partners, with existing investors Alloy Ventures, Flagship Ventures, Khosla Ventures and Kleiner Perkins Caufield & Byers also participating. As with last week's mention of ERA Biotech, one of the potential applications of this technology is in the development of enzymes and other inputs to biofuel production.

Other news and notes: Here are a couple of good overviews of recent discussions around ethanol and clean coal... A local perspective on cleantech venture capital in New Hampshire... Energy Innovations' Andrew Beebe burns his grilled asparagus...

SAM Private Equity becomes Emerald Technology Ventures

Rob Day: December 19, 2006, 4:55 PM
Interesting news last week that Netherlands-based Robeco has bought a majority stake in SAM Group, a cleantech-oriented "sustainable asset management" firm that was the parent company to SAM Private Equity (a long-time cleantech VC group).

The move seems targeted at public market offerings, since the managers of SAM Private Equity have bought out their portion of the business and re-branded it as Emerald Technology Ventures.

Emerald will take with it 16 staff members and $330mm under management.

Several recent cleantech deals to note:

World Energy Labs and Novazone announce raises

Rob Day: December 14, 2006, 9:26 AM
  • (self-promotion alert) Extremely happy to mention this one... World Energy Labs, which has developed breakthrough analytics for batteries and a broad range of electronic equipment (including fuel cells and other non-storage applications), has announced a $5.4mm Series B led by Expansion Capital Partners. The company's electrochemical impedance spectroscopy-based technology and products promise dramatic improvements in the way energy storage and electrochem devices of all types and flavors are operated and monitored, as well as in quality control during manufacturing.
  • Novazone, which is developing ozone-based systems for the sanitization of drinking water and food/ agricultural...

Accelergy, EnviroTower, Solar EnerTech, Western GeoPower, and GO Ethanol

Rob Day: December 12, 2006, 10:11 PM
  • Accelergy, a catalytic materials discovery and commercialization firm, has closed a Series B of undisclosed size. [PE Week Wire reported today that the round size was $25mm] The round was led by Goldman Sachs, with new investors Sequoia Capital China and Lux Capital, plus existing investors Nth Power, Technology Partners, Mobius VC and Advent International all participated as well.

Quanlight, BioPetroClean, and PowerGenix

Rob Day: December 6, 2006, 12:56 PM
  • Quanlight, which is developing solid-state lighting solutions (specifically, yellow-amber-red LEDs), announced a $1mm Series A from Blackbird Ventures. As part of the investment, Neil Senturia of Blackbird is also coming on board as CEO.
  • Nickel-zinc battery developer PowerGenix announced a $17mm Series C led by the Angeleno Group. Return investors Advent International, Braemar Energy Ventures, Granite Ventures and Technology Partners also participated in the...

Q3 cleantech investment numbers

Rob Day: December 1, 2006, 2:26 PM
The Cleantech Venture Network this week released their Q3 tally of sectoral investments, and it was another banner quarter. Almost a billion dollars of investments were tracked by the group in North America, and including European figures it topped the $1B mark.

Interestingly, out of 47 deals tracked in North America, five deals (Cilion, Altra, Ion America, Renewable Energy Group, and Newmarket Co.) made up 60% of the total funds invested. It's a very good indication of what we've talked about before, in that there is a bit of blurring of project finance and traditional VC in the market figures, especially when it comes to biofuels. Cilion, Altra, REG and Newmarket raised their...