Michael Kanellos 10 01 09, 6:40 AM

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Pegasus Capital Aiming to Put Millions Into Green Building

If you have a green building startup, here's a name you will want to remember: Pegasus Capital Advisors.

The private equity firm, which manages about $2 billion and has been around for over a decade, wants to put more money into energy and in particular into energy efficiency, i.e. light emitting diodes, green building materials, building control technologies. Like most private equity firms, a significant portion of the money will likely go into established, but listing, companies but it will also invest in new ventures through a subsidiary called Pegasus Sustainable Century.

The fund was founded by Craig Cogut, who came out of Drexel Burnham (bit of '80s trivia for you). The list of advisers is somewhat interesting. It includes Terry Tamminen, who headed up the California Environmental Protection Agency; Dan Kammen, one of UC Berkeley's star energy professors; George Shultz, the former Secretary of State; Marc Porat, founder of Serious Materials and Calstar Products; and Patrick Atkins, an expert on efficiently producing metals. And there's also Arik Arad, who ran security for El Al at Ben Gurion Airport Israel. Security is another area of focus for the firm.

Some of the investments include Fiberon, a composite decking material, and Molycorp Materials, which mines rare earth metals at the Mountain Pass Mine in California. Some of these get used in hybrid batteries.