Strong Start for Green Tech in 2010
Yesterday, Earth2Tech delivered some heartening news for folks following the Green Tech industry. In the first week of 2010 nine firms managed to raise at least $113 million! Here are some of the details:
Clean Power Finance, which connects residential solar installers and developers online, says it’s raised $6.9 million in a round co-led by Claremont Creek Ventures and Clean Pacific Ventures, and including Sand Hill Angels and investor Gary Kremen. The San Francisco-based company says it will use the funds for more development of its software and to move into other clean power verticals (maybe wind?).
Founded in 2002, Innovalight, a thin-film solar startup developing photovoltaic silicon ink, says it has raised a new round of $18 million from EDB Investments (EDBI) of Singapore, Vertex Venture Holdings, the venture subsidiary of Temasek Holdings, Apax Partners, ARCH Venture Partners, Convexa Capital, Harris & Harris Group, Sevin Rosen Funds and Triton Ventures. Whew. That’s a lot of investors and the company has raised a whole lot of money over the past few years, including $5 million in debt financing, $5 million in equipment lease financing, a $28 million Series C round, and $14 million in its Series A and B rounds. Innovalight says the new funding will be used to “expand the company’s proprietary silicon ink production for customers.”