For those (like yours truly) who find "Smart Energy" (IT-enabled energy efficiency and demand automation) technologies to be a compelling investment space, it will be very interesting to watch today's IPO by Comverge.
So far, so good -- trading in the early hours is above the $18/share pricing, which itself was a revision upward from earlier guidance. Apparently not everyone is convinced... But even if the price doesn't hold up over time, the exit is still a good validation for the entire smart energy space.
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).
