[Posted on February 29, 2008 - 5:51 PM]
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The U.S. Department of Energy just announced results of a competitive process to bring venture capitalists into its new Entrepreneur in Residence program, picking Kleiner, Perkins, Caufield & Byers, ARCH Venture Partners and Foundation Capital to work closely with national laboratories on developing and commercializing clean energy technologies. The selection demonstrates a range of venture capabilities, with Kleiner Perkins representing big-money establishment Sand Hill Road firms, ARCH bringing a record of working closely with universities and laboratories in technology transfer and Foundation bringing its early commitment to cleantech investing to the table.
Alexander Karsner, the DOE's Assistant Secretary for Energy Efficiency and Renewable Energy, says Kleiner Perkins will partner with the National Renewable Energy Laboratory, ARCH Venture Partners with DOE's Sandia National Laboratory and Foundation Capital with DOE's Oak Ridge National Laboratory. The EIR pilot program will give the firms access to the labs as part of the program's comprehensive strategy to diversify energy sources and reduce emissions. Aach lab will host entrepreneurs in residence, with the DOE providing $100,000 and the firms matching that amount.
The three venture firms ultimately will negotiate licenses for any laboratory-developed technology, and the program will try to create a standard license agreement patterned after successful university licenses. - Clifford Carlsen
See Feb. 27 press release from the U.S. Department of Energy
For more see EnterpriseitPlanet, greenbang and New Energy Finance
