Venture Capital Firms Are Backing the Renewable Energy Innovators

Dec 23 - BioCycle

Recent reports show an increasing involvement of venture capital investors in entrepreneurial companies breaking new ground in renewable energy technologies. "We're one of a few investment banks in North America that has amassed substantial experience in the renewable energy industry sector," writes CEO Bruce Woodry of the Sigma Capital Group in Harbor Springs, Michigan. "Our company is gearing up to meet the substantial demand which we see in renewable project finance. ... With oil in excess of $45/ barrel and upward pressure continuing, we believe that more of the alternative energy/ renewable energy will become economically viable. There will be no single solution in the energy market. All options need to be considered and used."

In related developments,the Minneapolis Star-Tribune recently reported how "venture capital investors are discovering clean tech companies." This is a sector that, "if it isn't already exploding, it's about to explode," observes Daryl Erdman of Aavin Venture Capital of Cedar Rapids, Iowa. Adds Nick Parker, chairman of CleanTech: "When energy prices are as high and as volatile as they are now, you have to go hunting for alternatives. That benefits a whole range of companies that make products for the energy sector."

Copyright J.G. Press Inc. Dec 2004