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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