BRIDGES Announces $1.9 Million in Funding to Support Clean Energy Startups Impacted by COVID-19

CEVG is proud to partner with Massachusetts Clean Energy Center and other leading clean energy investors to support innovators during the COVID crisis via the BRIDGES (Bridging Recovery for Innovators Driving Green Energy Solutions) program.

“Long-term innovation is necessary and will not happen without the emergence of new technologies and companies that are particularly vulnerable in times of global crises such as COVID-19,” said Jean-Noel Poirier, Executive Managing Director of CEVG.CEVG has been deeply committed to supporting early-stage clean energy entrepreneurs for many years, via seed capital and active management support, and is proud to join MassCEC during these tough times.”

Read about the exciting partnership here!

Clean Energy Venture Group and E8 Angels Form Partnership for National Climatetech Angel Investing

We are pleased to announce a closer collaboration with E8 Angels for a stronger support of climate technology entrepreneurs across the country.

CEVG and E8 have been leading supporters and investors of clean energy innovation for many years, remaining focused on early stage investments in the sector. In addition to capital, through collaboration with our dedicated partners, deep expertise, management support, and strong networks are used to help launch and deploy portfolio companies.

The collaboration between CEVG and E8 will broaden our collective ability to assess, co-invest in and support entrepreneurs post-investment across North America.

See the full press release at the link below:

Our Sister Organization, Clean Energy Ventures, Launches $110 Million Early-Stage Venture Fund For Clean Energy Innovation

BOSTON, Oct. 15, 2019  — Clean Energy Ventures (CEV), an investor in early-stage advanced energy start-ups, today announced the close of its first fund. The $110 million Clean Energy Venture Fund targets the current capital gap for seed and early-stage investments in promising advanced energy innovations. CEV will focus on technologies and business model innovations in the U.S. and Canada that are ready to be scaled and commercialized, and that have the potential to significantly mitigate global greenhouse gas emissions.

“After more than a decade of investing in the advanced energy sector, it’s been gratifying that this first fund, which is focused on investments that address climate risks, was significantly oversubscribed. It’s really indicative not only of investors’ appetite for innovation in these sectors, but also of the new normal in which this kind of funding is possible without compromising return on investment,” said Daniel Goldman, Managing Director at CEV. “Investors are clearly seeing that increasing commercial adoption of advanced energy innovations is creating opportunities to earn attractive risk-adjusted returns.”

The three principals – David S. MillerDaniel Goldman, and Temple Fennell – bring extensive advanced energy and technology start-up experience, as well as over 40 years of combined investing experience at the seed and early stages. Their successful track record of investing in more than 30 early-stage advanced energy companies includes multiple exits, such as MyEnergy (acquired by Nest, subsequently acquired by Alphabet affiliate Google), and more recently, Pika Energy (acquired by Generac). The firm will leverage their decade-plus history of investing together across the advanced energy sector and their extensive network among financial and strategic investors who have co-invested or followed-on in many of the principals’ prior investments.

CEV’s investment strategy is focused on a broad range of low-cost, capital-efficient advanced energy technology solutions that have massive emissions reduction potential. The fund has already made seven investments in sectors that include grid-edge connectivity and advanced metering, innovative materials and manufacturing processes applicable to carbon fiber composites and silicon-based solar wafers, residential and industrial energy efficiency, and smart grid sensors and software. Additional areas of interest include energy storage, grid connectivity, renewable energy production, clean transportation and the water/energy nexus.

“Unique among investors in the clean energy space, we’ll continue to focus on early stage advanced energy entrepreneurs with disruptive hardware and materials technology solutions and capital-light business models that have the potential to massively scale,” continued Goldman. “That thesis continues to generate extraordinary interest for co-investment and acquisition by an increasingly broad array of energy and industrial sector incumbents seeking new business opportunities and low-carbon solutions to their operations. Our intention is to take significant steps towards realizing our ultimate goal of growing companies to scale and having a material impact on greenhouse gas emissions.”

CEV’s Strategic Advisory Board is chaired by former United States Secretary of Energy Ernest Moniz and includes Ellen Williams, former Chief Scientist of British Petroleum, and J. Michael McQuade, former Chief Technology Officer of United Technologies. The fund also has a deep bench of venture partners with whom the principals have been working for over a decade and who bring extensive technical and commercial advanced energy experience. As an engaged investor, the fund is focused on leadership team diversity and development and is supported by a world-renowned expert focused on helping leadership teams discover new ways of working together to generate profound transformation within their companies.

About Clean Energy Ventures
Clean Energy Ventures (CEV) is a venture capital firm focused on early-stage advanced energy technologies and business model innovations that are ready to be scaled and commercialized to address global climate risks. The firm’s principals – serial entrepreneurs and investors who have backed more than 30 companies in the advanced energy technology sectors – have been investing in, supporting and mentoring early-stage energy startups together since 2005.

Clean Energy Ventures is a close partner and collaborator with the Clean Energy Venture Group. CEVG and CEV support each other in sourcing, scouting and diligencing deals. We often co-invest.

NYSERDA to Support Emerging Cleantech Companies Through New Investor Advisory Board

“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)

Continue reading here

CEVG’s Executive Managing Director, Jean-Noel Poirier, Joins the French-American Chamber of Commerce’s New Sustainability & Innovation Committee

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.

Panel: Energy & Transportation – Powering Viable Alternatives in Land, Sea & Air
FACC Sustainability & Innovation Forum, 13 May 2019