35 early-stage cleantech startups seeking VC funding (Tech Confidential

35 early-stage cleantech startups seeking VC funding

[Posted on April 10, 2007 - 4:45 PM]

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For this quarter's issue of Tech Confidential, The Deal's Stacey Higginbotham compiled a list of 35 clean technology startups seeking funding.

Here are the companies that made the list. The source column refers to the company's existing financiers or funding situation:

35 cleantech startups to know
	Company Headquarters	Technology	Seeking financing	Source	Funds raised¹
1	Agrivida Inc. Cambridge, Mass.	Enzymes for ethanol from corn	Undisclosed for Series A	Grants and incTank Ventures	$1M
2	Ajeetco Inc. Atlanta	Printing process for solar cells	$5M to $8M for Series A	Bootstrapped	Undisclosed
3	Alabama Ethanol Inc. Huntsville, Ala.	Biofuel using chicken fat	Not seeking	Richard Garriott, founder of Ultima Online	Undisclosed
4	Avalence LLC Milford, Conn.	Fuel cell reformers	$3M to $5M for Series A	Grants, angels	$750,000; $750,000
5	C2Biofuels LLC Atlanta	Enzymes for cellulosic ethanol from yellow pine	$15M from strategic investors	Grants, angels	$200,000; $600,000
6	C56 Technologies Middleton, Wis.*	Enzymes for cellulosic ethanol from grains and soybeans	$5M for Series A	Grants, angels	$200,000; $600,000
7	Catelectric Corp. Storrs, Conn.	Catalytic converters and fuel processors for fuel cells	$1M to $2M for Series A	Bootstrapped	Undisclosed
8	CellTech Power Westborough, Mass.	Fuel cells designed for military use	$5M for Series A	Undisclosed investors, also DARPA	$12M
9	CoolEarth Solar Livermore, Calif.	Balloons for solar power	Undisclosed	Bootstrapped	Undisclosed
10	CTP Hydrogen Westborough, Mass.	Fuel cell reformers	$5M to $8M for Series B	Aerete, Emerald Tech Ventures, Commons Capital, Mass Green Energy Fund, Sumitomo	$2M
11	Edenspace systems Corp. Chantilly, Va.	Enzymes to make cellulosic ethanol from corn	$5M for Series A	Grants	$2.5M
12	Enersight Fuels Inc. Huntsville, Ala.	Biofuels based on palm and soy oils	$750,000 from angels	Bootstrapped	Undisclosed
13	Franklin Fuel Cells Malvern, Penn.	Reformerless fuel cells	$7.5M for Series B	Grants, Enertech, angels	$3M; $10M
14	GreenVolts Inc. San Francisco	Concentrators for solar power	Undisclosed seed round	Business competition	$200,000
15	Gulf Coast Critical Power Houston	Back-up power from renewables	$2M for Series A	Bootstrapped	Undisclosed
16	HelioDynamics Ltd. Cambridge, England	Concentrators for solar power	Undisclosed for Series B	Low Carbon Initiative	$5M
17	HelioVolt Corp. Austin, Texas	Printing process for solar cells	Undisclosed for Series B	Grants, undisclosed angel, NEA Associates	$100,000; $8M
18	Infinia Corp. Kennewick, Wash.	Stirling engines (alternatives to combustion engines)	Undisclosed for Series B	Power Play Energy LLC	$3.5M
19	Liquid Piston West Hartford, Conn.	Combustion engine enhancements	$1M to $2M in convertible debentures and Series A	Grants, business competitions	Less than $100,000
20	LumoFlex LLC Atlanta	Organic materials for solar panels	$1.5M to $2M for Series A	Grants	$150,000
21	Magenn Power Inc. Ottawa, Ontario	Balloons for wind power	~~Not seeking~~ $5 million		Undisclosed
22	Mariah-Power.com Reno, Nevada	Smaller, propeller-free wind turbines	$3M to $5M for Series A	Business competitions, angels	$750,000
23	Nature's Electric Inc. Houston	Wind power to hyrdogen storage	$5M for Series A	SDRG Energy (parent), private investors	$3.5M; Undisclosed
24	NuEdison Corp. Sacramento, Calif.	Concentrators for solar power	$1M from angels, $5M to $1 M from VCs for Series A	Business competitions, angels	$25,000; $200,000
25	Plextronics Pittsburgh, Pa.	Printing process for semiconductors	$15M to $20M for Series B	Birchmere Ventures, Draper Triangle Ventures, FireLake Capital Management LLC	$13.1M
26	Precision Combustion North Haven, Conn.	Reformers for fuel cells	Strategic investment	Grants	Undisclosed
27	Prism Solar Technologies Inc. Stone Ridge, N.Y.	Concentrators for solar power	$3M to $5M for Series A	Grants	Undisclosed
28	Rentricity New York City	Hydropower from water treatment plants	$5M for Series A and $1.5M in debt	Grants	$250,000
29	Round Mountain Research Yellow Springs, Ohio	Wave power	Less than $1M from angels	Bootstrapped	Undisclosed
30	Seahorse Power Corp. Needham, Mass.	Solar-powered trash compactor	Wrapping up $2M to $4M Series A	Angels, grants	$2M
31	Solexant Corp. Sunnyvale, Calif.	Concentrators for solar power	$5M for Series A	Angels	$400,000
32	Soliant Energy Pasadena, Calif.	Concentrators for solar panels	Undisclosed for Series B	RockPort Capital Partners, Nth Power, grant	$8M; $4M
33	Verdant Power LLC New York City	Wave power	Evaluating $20M to $40M Series B	Angels, grants, Tudor Investments	$7M; $7.5M
34	Viresco Energy LLC Riverside, Calif.	Converters for fuel cells	Not seeking		Undisclosed
35	Ze-gen Inc. New Bedford, Mass.	Municipal garbage to energy	Undisclosed	Massachusetts Technology Development Corp., angels	$2.25M
¹ Includes equity and non-equity funding Source: The Deal LLC

Tags: cleantech, green, energy, vc, venture capital

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Comments

From: Mac Brown,

Hello;

My name is Mac Brown, I am CEO of Magenn Power www.magenn.com who is listed as number 21 on your list of CleanTech Startups seeking funding.

You have us listed as NOT SEEKING, when in fact we are seeking $5 million Series A

Posted on: April 11, 2007 5:29 AM

From: Scott E,

If last year was any indication, the solar companies on this list should have a lot of funding options. Insitutional investments in solar companies doubled from 2005 to 2006 and deal amounts are significantly higher than previous years.

I've done a full analysis of solar investments here:
http://www.libraryhouse.net/blog/2007/04/11/here-comes-the-sun/

Posted on: April 11, 2007 6:11 AM

From: Josh Jaffe,

Mac: Thanks for the update. The correction has been made.

Posted on: April 19, 2007 5:14 PM