Energy Management Software Funded: Hara raises additional 25 M$

Hara, a leading provider of environmental and energy management software, announced that it has received $25 million in Series C funding, the company’s largest round, bringing total investment to $45 million. Participants include Energy Technology Ventures, a joint venture of GE (NYSE: GE), NRG Energy (NYSE: NRG) and ConocoPhillips (NYSE: COP), and ITOCHU Technology Ventures (ITV), as well as existing investors Kleiner Perkins Caufield & Byers (KPCB), JAFCO Ventures and Nth Power and new backers Focus Ventures and Navitas Capital. The funding will allow Hara to accelerate global expansion and product innovation, to meet growing demand from Fortune 1000 companies and government agencies for solutions to help optimize energy and resource use while minimizing environmental impact.

Hara is adding new strategic investors as it advances its growth plans across industries including manufacturing, utilities and oil and gas. These investors include – through Energy Technology Ventures –world-renowned advanced technology, services and finance company GE; ConocoPhillips, the third-largest integrated energy company in the U.S.; NRG Energy, owner and operator of one of the largest power generation portfolios in the nation; and ITV, the venture capital arm of leading Japanese trading group ITOCHU which has also entered into a strategic partnership with Hara to serve clients in Japan. The funding supports Hara’s global focus as an industry leader and is a testament to the adoption, comprehensiveness and scalability of the Hara™ Environmental and Energy Management (Hara EEM) solution.

“We have high hopes for our investment in Hara because of its solid commercial traction, strong management team and proven innovation,” said Ricardo Angel, a GE Energy Financial Services venture capital executive also representing Energy Technology Ventures. “Hara’s energy and environmental management solution presents opportunities for collaboration across GE, NRG Energy and ConocoPhillips.”

Hara, which has secured more than 50 leading industry and government customers and demonstrated rapid innovation, was selected as a winner of the GE Ecomagination Challenge’s “Powering the Grid” program. The Ecomagination Challenge demonstrates GE’s global commitment to accelerate the development and deployment of innovative power-grid technologies through open collaboration, while providing financial support to develop and commercialize innovative technologies. Hara’s centralized management and decision making solution will enable the identification of innovative energy reduction and management technologies and capture related best practices, including those of other GE Ecomagination Challenge winners.

Ray Lane Becomes Chairman of the Board

KPCB managing partner Ray Lane joins Hara’s board of directors as chairman, where he will work closely with the leadership to drive the company’s global expansion. Lane brings more than 20 years of experience guiding the world’s top IT companies. Prior to joining KPCB in 2000, Lane served as president and chief operating officer of Oracle Corporation, where he oversaw multi-billion dollar revenue growth and core business expansion.

“Hara is already the established leader in the energy and resource management space and I have been impressed with the dramatic market momentum it has built over the past couple of years,” said Ray Lane. “Effective energy and environmental management is now a business imperative that requires full accountability from companies and their stakeholders across industries.”

“Hara has thrived by meeting the increasing demands of organizations looking to improve their bottom line by better managing their energy and resource consumption, and we continue to see tremendous growth opportunity in the market,” said Amit Chatterjee, CEO and founder, Hara. “Hara is thrilled to partner with industry and energy leaders who share our vision, and with Ray Lane’s technological, organizational and market insight, we will focus on continuing to aggressively scale our business in the U.S. and beyond.”
http://www.hara.com

$ 15 M for projects that reduce urban greenhouse gases: Toronto Atmospheric Fund

The ClimateSpark.ca Challenge launched today is offering a $10,000 cash prize and a pool of approximately $15 million in financing for business projects that reduce urban greenhouse gas emissions. The web 2.0 “crowdsourcing” and “ideation” platform allows an online community of investors, entrepreneurs, scientists, policy makers, environmental leaders and business buffs to rate and comment on business proposals and select the winners. Businesses from across Canada have until December 20th to submit their ideas.

“ClimateSpark is tapping business ingenuity and competitiveness to spark some creative climate change solutions that can also help companies turn a profit,” says Julia Langer, executive director of the Toronto Atmospheric Fund, which is behind the challenge. “If you believe that a thousand minds are better than one, ClimateSpark offers the opportunity to put an idea in front of a diverse community that will work with businesses to refine and develop -- and then judge -- their ideas.”

This opportunity to stimulate “green” entrepreneurship has attracted high-profile sponsors, including TD Bank, Toronto Live Green, Aird & Berlis LLP and Ryerson’s Ted Rogers School of Business. Firms with approximately $15 million to invest in this space, including Investeco and Best Funds, are also sponsoring the challenge. The winner and the eight runners-up will have the opportunity to pitch these savvy investors on their ideas.

Web challenges are being widely deployed in the United States and elsewhere to generate new ideas and products and are ideally suited to complex problems like climate change. The ClimateSpark web platform allows participants to earn “reputation” points based on their engagement in the challenge, which they can then use to support one of the business concepts and win prizes. “This is not a popularity contest,” explains Langer, “it is a sophisticated system for separating the wheat from the chaff when it comes to identifying solutions with real promise, both in terms of emission reductions and profitability.”

The first round of the contest runs from Nov. 4th to Dec. 20, 2010. Nine finalists will be selected to go into the second round, which runs from Jan. 3- Jan 31, 2011. The winner will be announced at the ClimateSpark Summit in Toronto on Feb. 2, 2011.

The Toronto Atmospheric Fund (TAF), an arm’s length agency of the City of Toronto,, has been sparking and incubating innovative urban solutions to climate change for close to 20 years. TAF investments in initiatives such as deep lake water cooling, LED traffic signals, auto sharing, energy efficient condominiums, renewable power, and solar heating have helped Toronto save millions of dollars through improved energy efficiency and increased energy security.

Solar financing and installation leader raises funds: SolarCity

SolarCity®, a national leader in solar power financing, design, installation, monitoring and related services, today announced a new, $21.5 million round of private financing. The round was led by Mayfield Fund and supported by additional investments from existing SolarCity investors Draper Fisher Jurvetson, DBL Investors and Generation Capital. The new funding will accelerate SolarCity’s growth and expansion to new markets.

“Mayfield has an excellent track record and we’re excited to add them as an investor,” said Lyndon Rive, SolarCity’s CEO. “We remain focused on our ultimate goal of providing clean power to millions of homes and businesses at a lower cost than polluting power sources. The new financing will accelerate our geographic expansion and give us the option to consider additional acquisitions.”

SolarCity is the first full-service solar provider in the U.S. for homeowners, businesses and non-profit organizations. The company pioneered the zero-money-down solar lease (SolarLease®), which allows customers to begin saving money from day one by adopting solar power, but also gives customers the option to purchase their systems upfront. SolarCity differs from its competitors in that it combines its financing options with custom design, installation, proactive monitoring, insurance and repairs, providing customers a single source to work with for the entire life of their solar project. The company has more than 13 installation centers, 700 employees and 8,000 customers spread across Arizona, California, Colorado, Oregon and Texas.

“SolarCity’s world-class team and proven momentum in the design, delivery and financing of solar power systems make it an ideal addition to our Energytech portfolio,” said Navin Chaddha, Mayfield Managing Director. Mr. Chaddha, ranked 11th in Forbes’ most recent “Midas List” of top global dealmakers, will join SolarCity’s board of directors as an observer.

Mayfield Fund is a forty year old venture capital firm with over $2.8 billion under management. Since its inception Mayfield has raised 13 U.S. funds, one India fund, and assisted its partner GSR Ventures in raising three China funds. Mayfield has invested in more than 500 companies and taken more than 100 companies public.

Hydrogen storage start-up gets 14 ME funding, McPHY

Sofinnova Partners, acting as a leading investor, Gimv and Amundi Private Equity Funds announced today their investment in McPhy Energy, together with the historic investors in a second round of funding worth €13.7m. The funds will be used towards the global expansion of McPhy Energy and the further industrialisation and commercialisation of its products.

McPhy Energy is an innovative French company founded in January 2008 with the mission to industrialise and commercialise a new technology for the solid storage of hydrogen in the form of magnesium hydride. The company has developed an alternative solution for the on-site production of hydrogen for the industry sector and for the renewable energy sector a concrete solution to solve the issue of energy storage.

Following a €1.6m first round of financing in January 2009 from Emertec and Areva, the firm established its production line and created a reservoir of magnesium hydride that was delivered to CEA-Liten in March 2010 for testing on an industrial scale. The company is now developing a second large-capacity reservoir that will become operational during the second half of 2010.

The second round of funds will allow the start-up to scale quickly, from both an industrial and commercial development point of view, by reinforcing its commercial and technical team and investing in additional production equipment. Already present in Spain and in Italy, the company also plans to open offices in Germany, Northern Europe, the Middle East and Japan.

“Through our innovative and very promising technology, McPhy Energy offers a new perspective on technical, ecological and economical solutions in the areas of industrial hydrogen distribution and energy storage,” explains Pascal Mauberger, CEO of McPhy Energy. “We are proud that such experienced investors share our enthusiasm for McPhy Energy’s advanced technology and will accompany us in further developing critical alternatives in these two fields,” he added.

“Following past investments in DNP Green, Revolt Technology and Neosens, this latest investment in McPhy Energy is proof of Sofinnova Partners’ continued interest in the Cleantech sector,” says Alessio Beverina, Principal at Sofinnova Partners. “McPhy Energy exemplifies what we actively seek in a start-up: an innovative technology that solves an unanswered issue in a growing international market and, above all, a high-quality managerial team which has already successfully proven itself and demonstrated its entrepreneurial spirit.”

“Over the past two years, McPhy Energy has finalised its unique hydrogen storage technology. It is now ready to enter several promising market segments. We are convinced that solid state hydrogen storage will be one of the winning solutions to address the growing need for green and large-scale energy storage,” says Bart Diels, Partner at Gimv. “McPhy Energy signifies our first Cleantech deal in France, where Gimv already concluded two other venture capital transactions in the past twelve months.“

"McPhy Energy represents a great opportunity to continue the development of our activity and expertise in the Cleantech sector," explains Florent Thomann, Investment Manager at Amundi PEF. "The powerful, breakthrough technology, an advanced industrial product on the brink of market launch, combined with an experienced and complementary management team and a huge market potential convinced us to accompany McPhy. Its unique product offering will enable McPhy not only to make industrial hydrogen use easy, but to solve one of today’s major problems : the storage of energy," he added.

Clipperton Finance acted as Sole Manager of the transaction. “We are very proud to have been able to advise the company and its management through this critical phase of McPhy’s development, and very confident that the company’s syndicate of experienced investors will be instrumental for its success,” commented Nicolas von Bülow and Thomas Neveux, the Partners at Clipperton Finance in charge of the operation.

Global Cleantech 100 - Most promising clean technology companies

The Guardian and Cleantech Group bring together the world's most promising clean technology companies.

They just released the 100 companies selected in the Cleantech 100.

Listed in alphabetical order:

A123 Systems, Massachusetts, USA
ACAL Energy, Cheshire, United Kingdom
Achates Power, California, USA
Adura Systems, California, USA
Albeo Technologies, Colarado, USA
Alertme, Cambridge, UK
AltaRock Energy, California, USA
Amyris Biotechnologies, California, USA
Aqwise, Herzliya, Israel
Arvia Technology, Liverpool, UK
Better Place, California, USA
BioGasol, Ballerup Denmark
Bloom Energy, California, USA
Boston Power, Massachusetts, USA
BridgeLux, California, USA
BrightSource Energy, California, USA
CamSemi, Cambridge, UK
ChapDrive, Trondheim, Norway
Chemrec, Stockholm, Sweden
ChromoGenics Sweden, Uppsala, Sweden
ClimateWell, Hägersten, Sweden
Cobalt Biofuels, California, USA
Concentrix Solar, Freiburg, Germany
Coskata, Illinois, USA
Cpower, New York, USA
d.light design, New Delhi, India
Danfoss AquaZ, Nordborg, Denmark
Deeya Energy, California, USA
Electro Power Systems, Turin, Italy
eMeter, California, USA
EnOcean, Munich, Germany
Enphase Energy, California, USA
EnStorage, Zichron Yaacov, Israel
EPS Corporation, California, USA
Epuramat, Luxembourg
Exosect, Winchester, UK
Fallbrook Technologies, California, USA
Fisker Automotive, California, USA
G24i, Cardiff, UK
Gevo, Colorado, USA
GreenVolts, California, USA
GridPoint, Virginia, USA
Heliatek, Dresden, Germany
HydroPoint Data Systems, California, USA
Ice Energy, Colorado, USA
Imara, California, USA
Infinia, Washington, USA
Inge, Griefenberg, Germany
IQWind, Bazra, Israel
Jain Irrigation Systems, Jalgaon, India
LS9, San Francisco, California, US
Luca Technologies, Colorado, US
Marine Current Turbines, Bristol, UK
Mascoma, Lebanon, New Hampshire, US
MBA Polymers, California, US
Metalysis, Rotherham, UK
Microvi Biotech, Union City, California, US
MIOX, Albuquerque, New Mexico, US
NanoH20, Los Angeles, California, US
Neosens, Toulouse, France
Nordic Windpower, Berkeley, California, US
Novaled, Dresden, Germany
Nujira, Cambridge, UK
Oasys, Cambridge, Massachusetts, US
Odersun, Frankfurt, Germany
Ostara Nutrient Recovery Technologies, Vancouver, Canada
Pelamis Wave Power, Edinburgh, Scotland
Pentadyne Power, Chatsworth, California, US
Power Plus Communications, Manheim, Germany
Powerit, Seattle, US
QuantaSol, Kingston, UK
Recupyl, Grenoble, France
ResponsiveLoad (RLTech), London, UK
ReVolt Technology, Zurich, Switzerland
Sapphie Energy, San Diego, California, US
Serious Materials, Sunnvale, California, US
SiC Processing, Hirschau, Germany
Silver Spring Networks, Redwood City, California, US
SmartSynch, Jackson, Mississippi, US
Solaire Direct, Paris, France
Solarcentury, London UK
SolarCity, Foster City, California, US
SolarEdge Technologies, Palo Alto, California, US
Solazyme, San Francisco, California, US
Solel Solar Systems, Beit Shemesh, Israel
Solexant, San Jose, California, US
Solyndra, Fremont, California, US
Sulfurcell Solartechnik, Berlin, Germany
SunEdison, Beltsville Maryland, US
SynapSense, Folsom, California, US
Tendril Networks, Boulder, Colorado, US
Tesla Motors, San Carlos, California, US
Tigo Energy, Los Gatos, California, US
Trilliant, Redwood City, California, US
Ubidyne, Germany
Verdiem, Seattle, Washington, US
Xunlight, Toledo, Ohio, US
Xylophane, Gothenburg, Sweden
Zeachem, Lakewood, Colorado, US
Ze-Gen, Boston, Massachusetts, US

CPower Secures Venture Funding From Intel Capital

Funding Delivered as Part of Intel’s Open Energy Initiative

NEW YORK — July 29, 2009 — CPower (www.cpowered.com), a leading energy management firm, today announced an infusion of funding from Intel Capital, Intel's global investment organization. This investment, Intel’s first in CPower, is part of Intel’s Open Energy Initiative, which is dedicated to fueling the development of the clean energy industry.

“We are honored by Intel Capital's significant investment in CPower,” said Gary Fromer, CEO of CPower. “As a participant in Intel’s Open Energy Initiative, we will utilize the funding effectively to help accomplish our common goal of making the global transition to smart energy a reality.”

“Demand response and market-based energy efficiency programs are key components of a smarter energy future,” said Steve Eichenlaub, managing director, platform technologies, cleantech and digital health, Intel Capital. “We believe that companies like CPower, with its technological expertise and strategic approach to sustainability, will help make a significant impact on accelerating smarter energy efficiency.”

This latest investment is an extension of CPower’s $10.68 million Series B round of financing, which closed in April 2009 and was led by Mayfield Fund, as well as Bessemer Venture Partners, Expansion Capital Partners, Schneider Electric Ventures, New York City Investment Fund and Consensus Business Group.

Since its inception, CPower has become one of the largest energy management and demand response providers in North America and a thought leader in developing new energy reduction markets and opportunities for its clients and partners. The company offers a range of energy management programs including demand response capacity, reserves and regulation, energy efficiency, peak load management and white certificates. Recently, CPower expanded across North America into California, the Mid-Atlantic region, Texas and Ontario, and is positioned to pursue additional regions in the coming year. In addition, CPower has broadened its client base throughout the industrial, commercial, retail and institutional sectors with new client partnerships including Wal-Mart, Sears Holdings Corporation, Kmart, Marcal Manufacturing, LaFarge North America, Long Trail Brewing Co., National Envelope, Passaic Rubber, Ramapo College, Vitamin Shoppe, and Western Container.
www.cpowered.com

Suniva Inc. Receives $75 Million In Funding For Expansion Of Manufacturing Capacity

Suniva Inc., a manufacturer of high value monocrystalline silicon solar cells, today announced the completion of a $75 million Series C financing round, led by Warburg Pincus, a leading global private equity firm. Also participating in the round were APEX Venture Partners and returning investors New Enterprise Associates (NEA), HIG Ventures and Advanced Equities.

“Most solar is undifferentiated,” said Chansoo Joung, a managing director at Warburg Pincus, “that’s not the case with Suniva. Their cell design and roadmap for commercialization is extremely compelling and represents a unique value proposition for customers.”

Suniva’s high-quality monocrystalline solar cells incorporate multiple proprietary design elements that allow them to achieve best-in-class efficiencies. Additionally, Suniva reduces the time and cost associated with commercializing new solar technology by developing its innovative designs in incremental stages. Suniva currently manufactures ARTisun™ series solar cells with conversion efficiencies above 18 percent, while being manufactured with low-cost, high-throughput techniques.
Joung went on to add, “Warburg Pincus seeks out businesses that have an important role to play both in the near and long term. As the solar industry grows, Suniva is well positioned, delivering the leading combination of high efficiency and low-cost manufacturing.”

In October 2008, Suniva completed the installation of its first manufacturing line and began production of its first-generation solar cells, marking one of the fastest production ramp-ups to date in solar manufacturing. Keeping pace, Suniva will complete the installation of its second, 64 MW manufacturing line in its Norcross facility this summer.

“In a year when most companies lowered their expectations, the investment community recognized Suniva’s ability to execute,” said John Baumstark, CEO of Suniva. “Our technology delivers the performance, cost and quality needed for solar’s next phase of growth. With this funding round, we will continue to execute on our business plan as we move into promising solar markets here in the U.S. and worldwide.”

Warburg Pincus managing directors Chansoo Joung and Dr. Henry Kressel will join Suniva’s board of directors alongside current board members PM Pai, former COO of SunPower; Dr. Kedar Gupta, GT Solar founder and former CEO, and NEA partners Harry Weller, Ravi Viswanathan and Jon Sakoda. Also on the board are Suniva founder and CTO Dr. Ajeet Rohatgi, recent recipient of the 2009 EPA Climate Protection Award, and Suniva CEO, John Baumstark.

iControl raises 23 M$ for home security and energy management

Investment by ADT, Cisco, Comcast, GE and Intel Capital Will Propel the Future of Broadband Home Management

iControl Networks, a leader in broadband home management, today announced the completion of a $23 million Series C investment, bringing its total venture and strategic capital funding to more than $45 million. This latest funding includes new investments from Tyco International’s ADT Security Services, Cisco, Comcast Interactive Capital and GE Security, together with continued investment by Charles River Ventures, Intel Capital and the Kleiner Perkins Caufield & Byers (KPCB) iFund.

iControl’s broadband home management solution allows homeowners to see and control their homes—including security and energy systems—via the Internet, iPhone and other mobile devices. Funding from these visionary companies shows their confidence in iControl to create and lead a new technology category – connecting consumers to their homes, families and properties.

John Doerr, partner at KPCB, said, "iControl is extending home security and energy management to the broadband Internet and iPhones so consumers can see, protect and manage their homes anytime, anywhere. Millions of consumers will have safer homes and be smarter energy users thanks to the shared vision of these industry leaders and their support of iControl."

Added Bruce Sachs, partner at Charles River Ventures, "A revolution in broadband home management is just beginning. iControl puts homeowners "in control" of their own security, energy and home health services. Each corporate investor – ADT, Cisco, Comcast, GE and Intel –leads its industry and will accelerate broadband home management through their investment in iControl."

iControl’s technology allows broadband operators, security providers and utilities to revolutionize their products and services by delivering broadband home security, energy management, remote monitoring and home health care to consumers.

Paul Dawes, CEO of iControl, said, "This incredible team of world class companies is exactly the group of investors we wanted. Together we will accelerate the development and rapid deployment of iControl’s technology."

eMeter Secures $32M Through a Financing Round Led by Sequoia Capital

Smart Grid Software Leader Eyes New Products, Global Acceleration as Environment Hits Center Stage

eMeter Corporation, the global leader in Smart Grid management software, today announced the close of a $32 million private financing led by Sequoia Capital and joined by existing investor, Foundation Capital. The funds will be used to accelerate eMeter’s sales and marketing in new markets, enhance services to current customers and continue investing in new products.

With over 24 million smart meters under contract with utilities worldwide, eMeter is an indispensable partner with forward-thinking utilities by providing software that is critical for successful Smart Grid deployments. The recent launch of Energy Engage™, eMeter’s breakthrough consumer engagement solution, enables utilities to empower their consumers to take an active role in managing their energy usage and reduce peak demand.

“eMeter has a tremendous future working with utilities to unleash the full benefits of the Smart Grid”, said Jim Goetz General Partner at Sequoia Capital. “We have been looking for the right opportunity to capitalize on the Smart Grid momentum and we found it in eMeter. The management team at eMeter has leveraged their domain expertise in the energy industry to build market-leading technology that will enable utilities to deploy the next generation of smart grid applications”. In conjunction with this round Jim Goetz has joined the eMeter board of directors.

“I’m pleased to welcome Sequoia to our board at this time of significant opportunity while the energy industry embraces Smart Grid technology. With this capital, and the support of both Sequoia and Foundation, we are well positioned for expansion as we capitalize on our momentum with utilities worldwide.” said Cree Edwards, CEO and founder of eMeter.

http://www.emeter.com/

Advanced Telemetry gets funding for Energy Management solutions

Advanced Telemetry, developer of the “EcoViewTM“ smart energy and resource management system for business and residential applications, today announced that it has successfully closed its Series B investment round with funding lead by Quercus Trust and a co-investment from 21Ventures. Both Quercus Trust and 21Ventures were investors in Advanced Telemetry’s Series A round. The funds will be used to increase production and to expand sales channels of EcoView Residential and EcoView Commercial.

EcoView Commercial has been installed with franchisees of some of the nations largest quick service and full service restaurants including Taco Bell, Burger King, Arby’s, Jim ‘N Nick’s Bar-B-Q and others and has won substantial acclaim from customers and distributors for its ease of installation, industry leading price point, substantial functionality, and rapid return on investment. Demand for EcoView Commercial has surged along with the number of company’s vying to distribute the technology since, through an escalating number of real world installations, the user-friendly system has proven its ability to reduce utility bills by as much as 25% and deliver a return on investment in a few short months.

"We are very excited to welcome Quercus Trust and 21Ventures as investors in this round. They have been strong supporters of Advanced Telemetry since inception and these funds will help us achieve the vast potential of our Company to bring our robust, cost effective energy management solution to small commercial buildings and residences," said Gus Ezcurra, CEO of Advanced Telemetry.

"Advanced Telemetry continues to be an industry leader with its unique approach to energy management for the underserved small commercial market and the residential market. We are proud that Advanced Telemetry is one of the few enterprise level solutions that is available now in the marketplace and currently saving its customers substantial dollars by reducing their energy bills, and staying true to its commitment to the environment by reducing its customers’ energy consumption and greenhouse gas emissions," said David Anthony, managing partner for 21Ventures.

EcoView Commercial transforms how electricity and other precious resources are conserved both at home and in business, resulting in considerable monetary savings and a smaller carbon footprint. Controlled through a simple-to-install wireless touch panel “dashboard” or web interface and completely independent of a utility company, the system helps business users understand and track how they are consuming resources.
www.advancedtelemetry.com

Solar AC Panel Startup GreenRay Raises Series A Financing

GreenRay Inc., a Massachusetts-based startup, announced that it completed its Series A financing round. The round was led by the Quercus Trust of Newport Beach, California. New York-based 21Ventures co-invested. The $2 million investment enables GreenRay to rapidly move ahead with manufacturing, distribution channel development, and commercial launch.

GreenRay’s solar innovation significantly reduces the cost of generating renewable solar energy by simplifying system design and installation. At the heart of GreenRay’s AC Solar Module is a highly reliable patented micro-inverter paired with energy monitoring.

"Despite solar’s rapid growth over these last few years, we are still far away from the cost structure needed to make solar a significant percentage of energy generation. We believe that there is a huge opportunity to bring down the costs of solar on the balance of systems side and that GreenRay has found a way to do that," said David Anthony, Managing Partner at 21Ventures. “At 21Ventures, we see this as a disruptive technology that will move the solar industry into the mass do-it-yourself solar market."

GreenRay was founded in 2006 by a team of former Schott Solar employees. Since then, GreenRay has received over $3.5 million in government-sponsored funding to demonstrate its AC Module concept, including grants from the Department of Energy and a SEED investment from the Massachusetts Renewable Energy Trust.

“The successes of Massachusetts clean technology companies are successes for the Commonwealth as a whole, as Governor Patrick steers the Bay State toward a clean energy future,” Massachusetts Energy and Environmental Affairs Secretary Ian Bowles said. “Today’s announcement reflects the continued growth and vibrancy of the state’s already burgeoning solar technology sector."

SolFocus Raises over $77 Million in Series C Funding

Funding to Support Rapid Manufacturing Ramp as the Company's Concentrator Photovoltaic (CPV) Systems Reach Commercial Scale

SolFocus, the leading developer of Concentrator Photovoltaic (CPV) systems, today announced that it has closed its Series C Funding round having raised $77.6 million. The company is completing its transition from pilot production to full scale commercialization, with the expansion of manufacturing from 0.5MW in 2008 to over 10MW to be shipped this year, with capacity for over 50MW going into 2011. The funds raised in this C Round will be used to support the rapid manufacturing ramp in the company's transition to volume production. SolFocus announced a first close on the C Round in January of this year, at which time it had raised $47 million. Since that first close the company has raised an additional $30.6 million, bringing the total round to $77.6 million.

"Closing a round of investment with more than $77 million is no small feat in this challenging fund-raising environment, and a good indication of market expectations for SolFocus in 2009 – the year of CPV commercialization," said Mark Crowley, Chief Executive Officer and President. "The investment will allow SolFocus to align its operations, engineering, and project management with the demands of global manufacturing and deployment."

The C Round was led by Apex Venture Partners, a Chicago-based venture firm focused on investments in companies with high potential for value creation in a variety of sectors including technology, software, IT infrastructure and telecommunications. "The strength of a firm like Apex Venture Partners as the round lead was instrumental in our ability to exceed our fund-raising target," commented SolFocus VP of Finance Bob Raybuck. "The strong product and market position of the company was also confirmed by the combination of existing and new investors joining the round." Follow-on participants in the round included New Enterprise Associates (NEA) who led the A and B Rounds for the company, NGEN and Yellowstone Ventures. New investors in the round include Demeter Partners, affiliates of Advanced Equities, and others. Advanced Equities, Inc. served as the financial advisor to SolFocus on the financing.

"SolFocus has the right mix of innovation and execution to deliver on its promise of low-cost solar energy in high-sun regions around the world," commented Wayne Boulais of Apex Venture Partners. "The challenge for new technology in today's tight capital markets is intense, but we believe that SolFocus has demonstrated its ability to move forward on a deliberate path that will allow the company to meet these challenges and excel." Mr. Boulais is a General Partner at Apex Venture Partners, and has been elected to the SolFocus Board of Directors.

The SolFocus CPV design employs a system of reflective optics to concentrate sunlight 650 times onto small, highly efficient solar cells. The SolFocus 1100S uses approximately 1/1,000th of the active, expensive solar cell material compared to traditional photovoltaic panels. In addition, the cells used in SolFocus CPV systems have over twice the efficiency of traditional silicon cells. In solar-rich locations, such efficiency can accelerate the trajectory for solar energy to reach cost parity with fossil fuels.

The funding builds upon a series of commercial milestones for SolFocus: the release of the SolFocus 1100S system in November; the largest CPV installation in Europe currently underway in Greece; the first certification of a CPV system to IEC 62108 standards, and the 15X capacity expansion of the company's manufacturing facility in Mesa, Arizona.

Clean Technology Venture Investment Rebounds in 2Q09

$1.2 billion in venture capital invested in clean technology companies, led by electric vehicles and biofuels, while solar investment hits new low

The Cleantech Group™, founders of the cleantech sector and providers of leading global market research, events and advisory services for the cleantech ecosystem, along with Deloitte, which provides audit, tax, consulting and financial advisory services to cleantech companies, today released preliminary 2Q09 results for clean technology venture investments in North America, Europe, China and India, totaling $1.2 billion across 94 companies.

Cleantech venture investment rebounded in the second quarter, after having declined significantly in 4Q08 and 1Q09, paralleling declines in other investment sectors amid the global economic downturn. The 2Q09 total is up 12 percent from the previous quarter, although down 44 percent from the same period a year ago. The average round size in 2Q09 was $12.9 million, up from $12.3 million 1Q09.

“Cleantech venture investment has rebounded moderately after free-falling for two consecutive quarters,” said Brian Fan, senior director of research, Cleantech Group. “We are seeing initial signs of recovery in other cleantech asset classes, including recent activity in solar tax equity, increased M&A levels, as well as billions in government stimulus that are being allocated globally to the cleantech sector over the next several quarters. Additionally, new climate and energy legislation from governments worldwide and the upcoming Copenhagen climate negotiations continue to be strong drivers of investment and innovation.”

“While venture investment in solar is down dramatically, utility investment in cleantech is up. Solar thermal was the leading energy source procured through power purchase agreements in the first half of 2009,” said Scott Smith, U.S. leader of Deloitte’s Cleantech practice. “New investment tax credits are playing a major role in making new solar thermal, solar PV, and wind projects more economically viable for utilities, which are bringing their access to capital to the sector.”

BY TECHNOLOGY SECTOR
The leading sector in the quarter was transportation—specifically, vehicles, biofuels and advanced batteries—reflecting attention on the automotive sector and significant government stimulus. Meanwhile, solar saw its lowest level of investment in over three years, with only $114 million invested, down from a high of $1.2 billion invested in 3Q08, as most investors, whose portfolios contain significant solar holdings, did not increase their exposure. The largest transactions in each technology sector were:

* VEHICLES - $236 million
Deals included San Diego startup V-Vehicle’s raise of $100 million to date from Kleiner Perkins Caufield & Byers and T. Boone Pickens to build a fuel-efficient car in Louisiana, EV manufacturer Fisker Automotive, which raised $85 million from Eco-Drive Partners and Kleiner Perkins to fund development and manufacturing of its Karma plug-in hybrid, Norwegian EV startup Think Global which raised $39 million, and Israel’s ETV Motors which raised $12 million from Quercus Trust to develop an electric powertrain.
* BIOFUELS - $206 million
Deals included agri.capital, a European developer of biogas plants, which raised $82 million from TCW Group and others and renewable oil producer Solazyme, which raised $57 million from Braemar Energy Ventures, Lightspeed Venture Partners and new investor VantagePoint Venture Partners.
* ADVANCED BATTERIES - $165 million
Deals included lithium-ion startup A123, which raised a $100 million round led by GE and others, and Deeya Energy, which raised $30 million from Technology Partners and others to develop its redox flow batteries.
* SOLAR - $114 million
Deals included Indian solar developer Cobol Technologies, which raised $30 million from Pangea Capital, as well as CSP technology provider Ausra, which raised $25.5 million from Khosla Ventures and Kleiner Perkins, among others. Another CSP company, Stirling-engine dish vendor Infinia, raised $14.1 million in convertible debt, as part of a $50 million planned raise.

M&As AND IPOs
Clean technology M&A totaled an estimated 138 transactions in 2Q09, of which totals were disclosed for 40 transactions totaling $12.2 billion. This is up 291 percent from 1Q09, which saw 123 M&A transactions, of which 28 were disclosed for a total of $3.1 billion.
Cleantech Group noted two cleantech IPOs in 2Q09: China Metal Recycling began trading on the Hong Kong Futures Exchange, raising $186 million, and Duoyuan Global Water Inc. listed on the NYSE raising $88 million. Another notable transaction was Broadwind Energy’s transfer of shares from OTC-BB to the NASDAQ on April 9th.

BY GEOGRAPHY
North America accounted for 66 percent of the total, while Europe and Israel accounted for 21 percent, India for11 percent, and China for one percent.

* EUROPE: European and Israeli companies raised USD $259 million in 30 disclosed rounds, down 13 percent from 1Q09 and down 17 percent from 2Q08. Energy Generation ($130.5 million, 11 deals) companies received the most investment, followed by Transportation ($51.0 million, 2 deals). The largest deal was German biogas plant developer agri.capital which raised $81.7 million and helped Germany ($95.4 million, two deals) gain the top position in the country rankings in Europe. The UK was second ($55.4 million, 13 deals), and Norway ($39.0 million, one deal) was third, thanks to Think Global's $39 million round, the second largest deal of the quarter.
* CHINA: There were six cleantech VC deals totaling USD $18 million in China. Advanced battery technologies raised USD $10 million to develop lithium-ion batteries. Hunan Joyfly New Material attracted USD $4.3 million to develop environmental friendly materials.
* INDIA: Indian cleantech companies raised USD $131 million in seven investment rounds (of which one deal amount was not disclosed), an increase of 167 percent from the previous quarter and up 161 percent from the same period last year. The largest deal was a USD $42 million round for Hyderabad-based Ramky Enviro Engineers which specializes in recycling and waste. The most active investor was IL&FS (Infrastructure Leasing and Financial Services Limited) which invested in two deals. Other investors in the quarter included Blue Run Ventures, DFJ, Mumbai Angels, New Enterprise Associates (NEA) and Axis Private Equity.

TOP INVESTORS

2Q09 Most Active Cleantech Venture Funds
Venture Capital Firm - # of rounds Companies
Kleiner Perkins Caufield & Byers - 5 - Agnion Energy, Ausra, Fisker Automotive, V-Vehicle, Zettacore
Khosla Ventures - 4 - Ausra, Cello Energy, HCL Clean tech, Transonic Combustion
Braemar Energy Ventures - 4 - Fulham, Nuventix, OPX Biotechnologies, Solazyme
Robeco Alternative Investments - 3 - AWS Eco Plastics, EPS Corporation, Turbine Air Systems
Draper Fisher Jurveston -3 - Glycos Biotechnologies, Deeya Energy, Zettacore
VantagePoint Venture Partners - 3 - Alertme, Solazyme, Tendril Networks
Source: Cleantech Group

12 Semi-Finalists Chosen in Pacific Northwest Clean Tech Open

Teams to complete summer entrepreneur “boot camp” to finalize business plan for regional finals

At a event held last week at Puget Sound Energy (PSE) in Bellevue, Wash., the Pacific Northwest region of the Clean Tech Open (CTO), an innovation catalyst that helps great ideas become viable clean tech businesses, announced the 12 semi-finalists out of a field of 56 initial competitors in its clean tech business plan competition. The teams will compete for three regional prizes of up to $50,000 in cash and in-kind services as well as for one national prize of up to $250,000 in cash and services. Semi-finalists will now receive focused, hands-on mentoring from local and national business leaders to hone their clean tech business plans in preparation for the regional finals in September.

Given its nationally recognized Green Power Program, its ongoing regional leadership in the advancement of energy efficiency and the development of renewable energy, and its Silver-level sponsorship of CTO, PSE was a logical venue for the ceremony.
“We are dedicated to fostering innovation in clean technology,” said Stephen P. Reynolds, president and CEO of PSE.

The region’s semi-finalists represent several distinct clean tech categories including energy storage, solar power, small-scale solar, wind and hydro, transportation and renewable chemicals. The entire geography of the Pacific Northwest region is represented in the semi-finalist group including eight teams from Washington, three from Oregon and one from Idaho. The 2009 Pacific Northwest region semi-finalists include:

- Clarian Technologies - Smart-grid enabled wind and solar appliances, Seattle, Wash.
Extreme Caps - Energy storage, Olympia, Wash.
- GoNano - High surface area nanomaterials for energy storage, Moscow, ID
- Green Lite Motors – 100 mpg commuter car/motorcycle vehicle, Portland, Ore.
- Hydrovolts - In-stream hydro turbines, Seattle, Wash.
- InnovaTek – Renewable hydrogen fuel cell technology, Richland, Wash.
- LivinGreen Materials - Advanced solar technology, Seattle, Wash.
- NHThree - Green anhydrous ammonia production, Richland, Wash.
- Pangreen - Mobile and web-based platforms enabling green living, Kirkland, Wash.
- Shorepower Technologies – Electric charging stations, Portland, Ore.
- Soluxra - Low-cost organic solar cells, Seattle, Wash.
- Veranda Solar - Plug and play solar appliances, Portland, Ore.

The 12 semi-finalist teams will now participate in the CTO Accelerator program where they will be given training and experience in all aspects of starting and sustaining their businesses from national experts in venture capital, business, law, marketing and sustainability. All contestants can continue to be involved in the CTO community, having access to networking events, business tools, and other mentorship opportunities.

“The quality of entries was so high that we feel any of these 12 semi-finalists could be the regional, or even national winner,” said John Pierce, co-chair of the CTO Pacific Northwest chapter, member, Wilson Sonsini Goodrich & Rosati and one of the leaders of its Renewable Energy and Clean Tech Practice. “These entrepreneurs and more than 30 volunteer mentors are anxious to get to work and turn these clean tech ideas into successful businesses.”

http://www.cleantechopen.com/

European Tech Tour Names Most Promising Cleantech Companies in Europe

Selected Companies for the 2009 Cleantech Summit Announced;
24 Companies Stand to Benefit from Investment Funding

The European Tech Tour's inaugural Cleantech Summit 2009, in which is being held today and tomorrow in Geneva, will showcase 24 leading European start-up and early stage cleantech companies. The Summit will support the development of start-ups developing products and services that will have a strong influence on combating climate change and alleviating the environmental impact of business. The Summit is the first cleantech event in the European Tech Tour's series of vertical events which bring together Europe’s most innovative privately-held technology companies with the vision and resources of Europe's top venture capitalists. Cleantech is currently the subject of intense political and social interest and is one of the fastest growing investment markets.

During the Summit, delegates will hear presentations from the 24 winning companies, who have been selected from a pool of over 300 applicants. The selected companies span cleantech segments such as: solar, wind, wave and bio energy; energy efficiency and storage; clean transport; biomaterials; and waste management. The top-24 companies were selected by a committee composed of experienced cleantech investors and professionals across Europe.

The winning companies include:
* Alertme
* Amminex
* Aquamarine Power
* Bekon
* BPS
* CellEra
* ChapDrive
* Chemrec
* Concentrix Solar
* CPT
* EVO Electric
* Heliatek
* Hymite
* Juice
* Novaled
* NovoPolymers
* Power Plus Communications
* Recupyl
* ReVolt Technology
* SiC Processing
* Solarion
* Torqeedo
* Watteco
* Wave Star Energy

In addition, panel discussions will address timely topics such as: Smart Grids, Smart Meters and the Applications for Start-ups; and The Future of Renewable Energy. The sessions will have participants from industry (Schneider Electric, Honeywell, Statkraft, BP Alternative Energy, AXPO, Bard Engineering), venture capitalists and start-ups.

There will also be a number of keynote speeches including:

* Mr Pieter Wasmuth, CFO of RE Power, who will provide the keynote address at the opening gala dinner. REpower Systems is one of the leading manufacturers of wind turbines for onshore and offshore applications;
* Mr Pierre-Francois Unger, State Councillor for the Department of Economy and Health, Canton Geneva;
* Mr Michel Jarraud, Secretary General, World Meteorological Organisation will also be addressing the Summit attendees.

An international delegation of more than 140 influential investors, technology industry leaders, service providers and academics has signed up for the event.

“This summit is about what our society needs to address the climate change issue: collaboration. We are facilitating the collaboration between entrepreneurs and investors, start-ups and established companies, energy generators and energy users; and between business and politics,” said Bernard Vogel, President Cleantech Summit 2009. "Some very exciting start-ups are taking part in the Cleantech Summit 2009, many with the potential to impact consumers' lives for the better in the long term."

Clean Tech Open Kicks Off Southern California Search for Next Generation of Clean Tech Startups

On Wednesday, April 8th, the Clean Tech Open will kick off a series of Southern California events with its first ever Breakfast Briefing in Orange County, bringing together clean tech entrepreneurs, start-ups, investors and industry thought leaders for discussions on the future of the clean tech market. The first event will be hosted by OCTANe, the Southern California supporting partner for the Clean Tech Open, and will feature a talk by Josh Bigelow from Synchromatics, a Clean Tech Open alumni contestant, as well as a preview of the Clean Tech Open's 2009 season. The Clean Tech Open, now in its fourth year, will award $1 million dollars in prizes to clean tech start-ups that win the 2009 competition, with a grand prize available of $250,000 to the winning start-up.

The Southern California series of Clean Tech Open Breakfast Briefings are scheduled weekly at different locations throughout the region and include primers on how to enter the Clean Tech Open competition before the deadline of May 30th, 2009, as well as insights and conversations around emerging issues in the clean tech sector from industry insiders.

More on this year's schedule here: http://www.cleantechopen.com/app.cgi/events/index/

Solairedirect raises 20 million euros in equity and becomes a major player in clean electricity in France

Solairedirect has closed a 20 million-euro round of equity financing with its existing shareholders (Demeter Partners, Schneider Electric Ventures, TechFund) and mutual insurance companies: MACIF, AGPM, UMR and Ofivalmo Partenaires

This operation, which stands out in the present financial environment, demonstrates the attractiveness of Solairedirect, its market and its business model. It strengthens the company’s position as France’s first pure play operator in solar power, a clean energy with enormous potential.

Founded in 2006, Solairedirect is an integrated solar power provider, present on the photovoltaic value chain from module production to decentralized power network operation. The company develops and operates infrastructures of all sizes (rooftop and ground-mounted) with turnkey service offers (design and engineering, installation and construction, financing, operation and maintenance) as part of carbon footprint community projects.

Solairedirect’s mission is to provide everyone with the choice of clean and home-based electricity, producing reliable, high performance, low-cost and smart solar kilowatt-hours. It systematically implements technology, manufacturing and service innovations with the stated intention to be among the first power producers to reach grid parity in France and other countries.

The company has 150 employees, 1 500 residential and commercial customers and over 300 megawatts of solar parks under development. One of the very first solar parks in France (4.2 megawatts) is now being built in Vinon-sur-Verdon (Southeastern France) as a part of Solaire Durance, a joint venture between Solairedirect and Caisse des Dépôts, France’s largest government-owned financial institution.

For Thierry Lepercq, CEO of Solairedirect, “ this round of financing sets off the second phase of Solairedirect’s development, with the national coverage of our residential and commercial service offers, the launch of our PV module production and the construction of our first large solar parks. It helps secure our growth objectives which will create hundreds of new jobs in 2009 “.

UK-Qatar investment deal

News of a significant new UK-based cleantech investment fund, largely bankrolled from the Middle East. From the Carbon Trust announcement -

The Prime Minister has today announced a long-term strategic partnership between Qatar and the UK as part of the UK Government's commitment to forge new partnerships between hydrocarbon producing countries and consumer countries to help the move to a low carbon economy.
The Carbon Trust - set up by the UK Government in 2001 and one of the world’s leading experts on low carbon technologies - has signed a Memorandum of Understanding with the Qatar Investment Authority (QIA) on a new Low Carbon Innovation Partnership to set up a new £250m Qatar-UK Clean Technology Investment Fund and to investigate the creation of a Low Carbon Innovation Centre in Qatar.
The Fund will seek to make venture capital investments in clean energy businesses primarily located in the UK. Selected investment opportunities in continental Europe will also be considered. In addition, the Fund will consider investing in the Gulf Region once an investment capability is established in Qatar. The Fund will begin investing with up to £150m committed from the QIA alongside the Carbon Trust’s commitment. It will look for further funding from other investors to bring the maximum amount to £250m.
The Memorandum of Understanding also includes a commitment to carry out a feasibility study to investigate the creation of a Low Carbon Innovation Centre in Qatar. It will aim to share skills and knowledge on the development, commercialisation and deployment of low carbon technology between the UK and Qatar.

Home energy efficiency specialist Sustainable Spaces secures financing

Sustainable Spaces, a national leader in the growing field of home energy efficiency and health, announced it has closed its Series A funding. The company secured $6 million dollars from RockPort Capital Partners and Shasta Ventures. The infusion of funding will enable the company to invest in building its infrastructure to meet the exploding demand for its services.
Sustainable Spaces brings homes up to today’s high standards of energy efficiency, health and comfort by applying building science to conduct home energy audits and retrofit projects. Existing homes currently account for almost 21% of the U.S. carbon output, more than all the cars, trucks, and buses combined. Energy efficiency is one of the most cost-effective avenues for improving energy security, reducing energy bills, and addressing the important issue of global climate change—all while creating green collar jobs and growing the economy. Since 2004, the company has performed over 400 home retrofits in the San Francisco Bay Area, lowering homeowners’ energy usage and expense by an average of 40%, while improving indoor air quality and thermal comfort.
"We are very pleased to be working with investors who understand the value proposition and market potential of our business and are committed to successfully growing companies that can make a real impact on global climate change and the emerging green economy," said Pratap Mukherjee, CEO of Sustainable Spaces. "There are more than 70 million single-family, owner-occupied homes in the U.S. and they typically use one and a half to two times the energy required to achieve the homeowners’ desired level of comfort. Finding the causes of wasted energy in homes and fixing the underlying problems represent the single most potent and cost-effective measure we can take to combat global warming."
"Sustainable Spaces has created a compelling value proposition for homeowners," said Chuck McDermott of RockPort Capital Partners. "By addressing each individual homeowner’s concerns and constructing an improvement roadmap customized to that customer, they can work within any homeowner’s budget to reduce their bills and make an impact on global climate change. Our investment enables the company to further increase the tremendous results they have seen in their local market and expand their programs into new markets."
"There’s a massive opportunity to create the trusted brand in home performance to help homeowners sort through the dizzying array of green products and services in the most cost-effective way possible," said Tod Francis of Shasta Ventures. "Sustainable Spaces has been leading the way with a track record of providing a very high quality service enabled by leading building science know-how. We are very excited to be working with the company on the ground floor of this growing sector."
Founded in 2004, Sustainable Spaces has been a national leader in creating the home performance industry. The company is committed to its employees, and has created more than 40 positions in living wage jobs with a full benefits package. The company is also closely involved in local green collar jobs programs, and is committed to giving back to the communities in which it does business.

http://www.sustainablespaces.com

PowerGenix Closes $30M Round Fueled by Clean Transportation, Energy Storage Demands

Powerful, Nontoxic Nickel-Zinc Batteries Eye Huge Market Opportunity
PowerGenix, manufacturer of nontoxic, high performance rechargeable Nickel-Zinc (NiZn) batteries, today announced the close of its $30 million Series D financing round. The round was led by Bessemer Venture Partners and included existing investors: Advent International, Angeleno Group, Braemar Energy Ventures, Granite Ventures, OnPoint Technologies and Technology Partners.
Amid a global restructuring of energy storage markets, propelled by increased concern over battery safety and toxicity and revived interest in automotive technologies, PowerGenix has seen huge demand for its nontoxic rechargeable NiZn batteries. The company has signed $75 million in customer supply agreements since beginning high-volume manufacturing in March of this year and is supplying NiZn cells into multiple markets including power tool, lawn and garden, consumer AA, military and light electric vehicles (LEV).
Targeting the global clean transportation and energy storage markets with a nontoxic, non-combustible and recyclable battery solution, PowerGenix's NiZn cells pack one-third more power and energy than existing rechargeable alkaline cells. The company's cells have also received compliance, under third-party testing, with the European Union's Reduction of Hazardous Materials (RoHS) and Battery Directive requirements, widely recognized as the world standard for banning toxic material in new electronic devices. In the United States, the Rechargeable Battery Recycling Corporation (RBRC), which represents 90 percent of the global battery industry, recently expanded its recycling program for the first time in seven years to include PowerGenix's NiZn -- the most recyclable rechargeable chemistry on the market.