Tuesday, July 2, 2013

Northwest Energy Angels Invests in Ten Clean Technology Companies

Northwest Energy Angels (NWEA) of Washington state,  the first early-stage investment group in the United States to focus exclusively on cleantech industries,  has invested a total of $1,848,800 in ten clean technology companies during the first half of 2013.  More than half of the investments were made in companies outside the state of Washington, continuing a trend of out-of-state interest in NWEA among cleantech entrepreneurs.

NWEA invested (and in some cases, re-invested) in companies that span the spectrum of cleantech innovation, from electric motorcycles and home retrofitting, to solar inverters and high efficiency motor drives, to a social innovation incubator. Companies include:

Blue Marble Biomaterials: manufacturers specialty biochemicals,
Brammo, Inc.: builds electric vehicles, currently focused on motorcycles,
Empower Micro Systems: designs low cost solar energy inverters,
Fledge: social innovation incubator,
Flux Drive: designs and manufactures permanent magnet adjustable speed drives,
Green Canopy Homes: rebuilds homes focused on sustainability, energy efficiency and a modern lifestyle,
Greenwood Clean Energy: designs and manufactures clean, biomass-fired central heating appliances,
Indow Windows: produces energy saving thermal window inserts that press into existing window frames,
OndaVia, Inc.: uses nanotechnology and microfluidics to quickly and easily detect contaminants,
Ryno Motors: designs and sells self-balancing, one wheel, electric scooters.

With an average investment of nearly $200,000 and several transactions in which NWEA was the lead or the close, the group continues to play a critical role in seeding promising young companies.

NWEA presented the mid-year results at its Summer Showcase event which took place last night at the offices of Fledge, one of NWEA's newest investments, where it also featured updates and presentations from several past and recent portfolio companies.

The uptick in investments in early stage cleantech companies by NWEA mirrors trends happening outside the Northwest. According to the Cleantech Group's Quarterly Investment Monitor, "After falling from 50 percent of all venture deals in 2008 to below 40 percent in 2012, early stage cleantech companies claimed 47 percent of all deals in 1Q13."

"We've been pleased with the number, quality and diversity of deals we've seen come our way so far this year, and our investment level reflects our enthusiasm," said Byron McCann, co-chair of NWEA. "We continue to be the angel group of choice for cleantech entrepreneurs from far beyond the Pacific Northwest, given our knowledge base, network and success in helping fund and grow great ideas and technologies into great companies."

NWEA is made of up of more than 60 accredited angel investors from across the Pacific Northwest who are successful executives and entrepreneurs providing investment capital, contacts and strategic advice to help young companies achieve market leadership. Funds are not pooled; members make their own investment decisions while sharing due diligence and the wealth of experience of a powerful network of investors, entrepreneurs, venture capitalists, executives, scientists, engineers, bankers and attorneys. Since its founding in 2006, NWEA members have invested more than $12 million in 41 companies.

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1 comment:

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