Recent Posts:

Propel Biofuels

Rob Day: August 30, 2007, 4:41 AM
Extremely pleased [self-promotion alert] to share the announcement that Propel Biofuels has raised a $4.75mm Series A round (see Propel's pdf press release here), with funding provided by @Ventures and Nth Power. The investment round also included participation by several leading Seattle-area businesspeople, including Andrew Stout (founder of Full Circle Farms), Barry Barr (founder of KAVU), and Jack Rafn (founder of RAFN Construction). Also coming onto the board alongside Peter Mills of @Ventures and Nancy Floyd of Nth Power will be Arthur Rubinfeld, previously Exec VP at Starbucks, where he was responsible for building out the company from 100 locations to over 3,800 stores...

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

Rob Day: August 28, 2007, 8:01 AM
&
  • 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...

4th Annual Energy Tech Investor Conference:  Photo Caption Contest

Rob Day: August 23, 2007, 4:24 AM
Loyal readers -- The organizers of the upcoming SRI 4th Annual Energy Tech Investor Conference (see details below) have kindly offered up two free tickets for the event to readers of this site. If you want one of the tickets, however, you've got to earn it.

At the conference organizers' suggestion, we're launching a "Cleantech Photo Caption Contest"!

Below are three pictures that might inspire you -- you can pick any of the three that you like. Simply pick one of the three, come up with a funny caption (15 words or less), and email it to me by the end of the day, Thursday August 30th. Make sure you indicate which picture you're captioning! And you can submit as many entries as you...

DoE VC Day, and Inside Greentech

Rob Day: August 21, 2007, 6:14 PM
I have had the pleasure of attending the Department of Energy's Energy Efficiency and Renewable Energy (EERE) Venture Capital Technology Showcase day today and tomorrow (tip of the hat to MIT's Bill Aulet for helping make the connection). It has proven to be a fascinating look into the organization of, and specific research efforts of, the DoE labs system.

First of all, taxpaying readers will be pleased to know that the DoE is not spending any money on free lunches, drinks or coffee for venture capitalists; or on brightly colored wall paint or floor tiles in the indomitably beige corridors; or even on wall decorations of any kind (except for repeated instances of posters featuring...

Are electric vehicles the next “frothy” cleantech venture subsector?

Rob Day: August 21, 2007, 6:13 AM
Looks like we're going to get to figure out the answer to that question over the next few years, as we see just how many EV startups can succeed...
  • Not sure who posted it first, PE Hub or VWire, but the news came out at the end of last week that Venture Vehicles has raised a $6mm Series A led by NGEN and including DVC Technologies NV. The company's first concept vehicle, with a design licensed from Carver Engineering (a subsidiary of DVC), is a tilting three-wheeler that they say will be able to go zero to 60 in 6 seconds, hit a top speed of 100mph, get mileage of 100mpg, and cost less than $20k.

Heliovolt and Metrolight

Rob Day: August 15, 2007, 12:19 PM
Two other cleantech deals hot off the presses today:
  • Tech Confidential is reporting that CIGS startup HelioVolt has raised a $78 77mm Series B. According to the site, a first close has been completed and a second close is expected later this month. Investors in this round are said by HelioVolt's PR folks to include "A DC investment firm", "A Middle Eastern clean tech fund managing $100B worth of investments", and "a multi-billion dollar company in Spain". Readers can fill in the blanks (or just wait until tomorrow's PR if you can't guess already). NEA had led the company's previous $8mm Series A... Tech Confidential speculates that HelioVolt is now positioned to be the first of...