SiXtron, a Montreal-based developer of thin-film coatings for solar cells, announced a C$10mm Series A. VenturesWest led the round, which also included existing investors iNovia Capital, Innovatech sud du Quebec, and FIDD.
Novomer, which is developing technology for producing plastics from carbon dioxide and carbon monoxide, announced a $6.6mm Series A. Physic Ventures and Flagship Ventures provided the funding.
Vaperma, a gas separation membrane developer, announced a C$21.5mm Series B, led by Low Carbon Accelerator, and including participation by Volvo and existing investors Emerald Technology Ventures, BDC Capital, and FIDD.
Sort of cleantech-related: Applied Isotope Technologies, which is developing kits for the analysis of environmental toxin levels in urine, raised a $150k seed round from the Pittsburgh Life Sciences Greenhouse.
CTI reported this week that Trellis Earth Products has raised $750k in "seed funding commitments" from angel investors. There was also a lot of revealing information about an $18mm Series A round ($60mm post-money, "set by the investment bank") that the company is trying to pull together -- it's been interesting to see more and more articles by the cleantech venture dailies, talking about financing rounds that are being sought (as opposed to rounds actually done). Are bankers telling the companies it will drum up more interest? But does it result in more potential VCs being turned off of a deal, to see such open discussion and investors already crowding around the trough? It would be interesting to track how many of these "announced rounds" end up actually coming together, and if so, when...
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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