“The New York State Energy Research and Development Authority (NYSERDA) today announced the launch of a new Investor Advisory Board to support its efforts to accelerate new technologies and provide broader exposure for emerging companies to the investment community. The 10-member board came together today in New York City for the first time and represents some of the most active and prestigious early-stage financial and corporate investors in the clean energy space. Today’s announcement supports Governor Andrew M. Cuomo’s Green New Deal, a clean energy and jobs agenda that puts New York State on a path to a carbon-neutral economy while spurring growth of the green economy. ” (NYSERDA 2019)
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On May 13, 2019, at the FACC Sustainability & Innovation Forum in New York City, the French-American Chamber of Commerce (FACC) introduced their new Sustainability & Innovation Committee which will drive the adoption and deployment of sustainability policies, solutions, and initiatives in its 1000+ member companies.
Jean-Noël Poirier, Executive Managing Director of the Clean Energy Venture Group, joined the committee alongside senior sustainability officers of major corporations such as Colgate Palmolive and Danone, and law firms such as Baker MacEnzie.
The Forum attracted over 300 participants who attended various panel discussions and listened to keynote speaker Lise Kingo, CEO and Executive Director of the United Nations Global Compact, which is the world’s largest corporate sustainability initiative with more than 13,500 signatories from 170 countries.
Through Jean-Noel Poirier, Clean Energy Venture Group is delighted to bring the perspective of early stage cleantech investors and entrepreneurs to the FACC’s Sustainability Committee, which will facilitate connections between major companies and startups for pilot deployments with the goal to promote the adoption of innovative technologies.
Lee Taylor, CEO of CEVG portfolio company REsurety, discusses covariance risk with Norton Rose Fulbright Partners Todd Alexander and Rob Eberhardt in this Currents Podcast episode. Lee answers everything from what it is and why you should care about it to who wears the risk in a project and what commercial and industrial buyers can do when facing it.
LineVision, Inc., which enables utilities to improve transmission line capacity, resilience and safety through advanced technology, today announced that it has closed a $2 million Series A round. The lead investor was Clean Energy Ventures. LineVision will use the new capital to scale its operations and supply chain to support the needs of utilities worldwide. Read More
“REsurety, a leading provider of valuation analytics and risk management services to the buyers and sellers of renewable energy, announced today that it has reached a critical corporate and industry milestone, having surpassed more than 5,000 MW of risk management transactions. Transactions closed in 2018 with Microsoft, Enel Green Power North America, Engie, Orsted, Macquarie, and several other large international companies have fueled nearly half that cumulative volume in 2018 alone, signaling broad and accelerating adoption of REsurety’s risk mitigating products and services.” Read More
CEVG portfolio company CleanFiber, formerly UltraCell Insulation, has raised $4.9 million to advance plans for building a western New York factory.
CleanFiber manufactures high performance cellulose building insulation, a higher quality product made at lower cost from recycled and residual materials.
See the announcement here.
Quidnet Energy, Inc., a CEVG portfolio company, was one of ten projects selected as part of ARPA-E’s new DAYS (Duration Addition to electricitY Storage) program.
This program will, ” develop energy storage systems that provide power to the electric grid for durations of 10 to approximately 100 hours, opening significant new opportunities to increase grid resilience and performance. The extended discharge times of DAYS projects will enable a new set of grid applications including long-lasting backup power and greater integration of domestic, renewable energy resources.” – ARPA-E.
“The Quidnet Energy team will develop a modified pumped hydro energy storage system using rocks beneath the Earth’s surface. The team will pump pressurized water into gaps in underground rocks. When energy is needed later, the induced strain in the surrounding rock will force water back through a generator to produce electricity.” – ARPA-E
Quidnet Energy was awarded $3,298,786 under the category of Geomechanical Pumped Storage.
Read the ARPA-E announcement here.