Northwest Energy Angels Invests in Nine Startups

Source: John Cook, Geekwire, February 22, 2012.  Northwest Energy Angels Press Release, February 22, 2012.

Northwest Energy Angels members invested more than $880,000 in nine cleantech startups last year.  Since its inception in 2006, the group has invested $4.8 million in 31 companies.

“Despite the economic downturn, our members continued to support cleantech innovation, which we think is a vital part of achieving a clean energy economy and building a thriving business community in the Pacific Northwest,” said Byron McCann, co-chair. “We saw a number of exciting cleantech innovations this year, especially in the lighting, water, renewables, materials and energy efficiency spaces. We’re really looking forward to continuing to meet other talented entrepreneurs in 2012 and helping them become leaders in their markets.”

In 2011, the Northwest Energy Angels invested in the following cleantech companies:

New Investments

  • Banyan Energywww.banyanenergy.com
    Developed breakthrough technology for photovoltaic modules using a new category of waveguide optics known as Aggregated Total Internal Reflection (ATIR).
  • BioVantage Resourceswww.biovantageresources.com
    Offers sustainable, bioremediation solutions for industrial, agricultural and municipal wastewater treatment.
  • Columbia Power Technologywww.columbiapwr.com
    Developed new wave energy harvesting devices using novel, off-shore, direct-drive, permanent-magnet generator technologies.
  • Flux Drive Inc. www.fluxdrive.com
    Designs and manufactures permanent magnet, adjustable speed drives and couplings that increase the life and performance of rotating equipment while decreasing energy consumption by as much as 75%.
  • OneEnergy Renewables – www.oneenergyrenewables.com
    Provides Renewable Energy Certificates and carbon offsets to business customers, offering simple, meaningful and affordable solutions to help meet renewable and greenhouse gas reduction goals.
  • Virticuswww.virticus.com
    Developed a scalable communication and control system that enables a 30-50 percent reduction of lighting system energy and maintenance costs.
  • WISErg Corporationwww.wiserg.com
    Developing a technology that converts compostable organic waste into valuable organically derived fertilizers and biogas..

Follow-on investment

  • REV Technologies, Inc. (REV) – www.revtechnologies.ca
    REV’s electric vehicle (EV) energy networking technologies allow EV’s to act as high-output energy endpoints that improve the resilience and reliability of the power grid by synchronizing their energy needs with renewable power generation in real-time.

Additional Northwest Energy Angels Stats: 2006 Inception to December 2011

  • Number of companies which presented to members: 117
  • Number of companies that received first-time investment from the group: 31
  • Companies that received follow-on investment: 8
  • Total amount invested to date: $4.8 million

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