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July 11, 2007
NW energy Angels network making deals
The energy angel network I founded is making deals happen..
Angel Investments are Fueling Pacific Northwest Energy Sector
The Northwest Energy AngelsTM accelerates energy investment in the region with six deals funded in first half of 2007.
SEATTLE, WA - June 18, 2007 - The Northwest Energy AngelsTM group has completed six energy-sector investment deals in the first half of 2007, tying the total number of investments the group made in 2006.
The Northwest Energy Angels invested $180,000 in six deals during the period January through April, 2007. In comparison, the group completed six investments with a total value of $368,000 during calendar year 2006. Twenty-eight companies have presented to the group since its inception in January 2006.
These investments are crucial to companies from the time they bring their innovations out of the lab until they find a utility and local government to work with, says Jeff Morris, Director of the Northwest Energy Technology Collaborative which facilitates the investment group.
Morris notes that the Northwest Energy Angels is unique in that it is the first angel investment group in North America to focus only on the energy industry, including alternative sources of energy. The group has 40 members covering Oregon, Washington and British Columbia.
Kirk Washington of British Columbias Yaletown Venture Partners believes that the entrepreneurs and the regional focus on sustainability create unique clean technology investment opportunities.
We are strong believers that the Pacific Northwest, from Portland, Oregon to Vancouver, British Columbia, with Seattle as the centerpiece, will become an important new energy economy hub, says Washington, whose Yaletown Venture Partners focuses on early-stage clean technology and information technology investments.
Companies receiving investments from the Northwest Energy Angels since 2006 include: ADI Thermal Technologies, Delaware Power Systems, Novinium, Propel Biofuels, Ridgeline Energy and Sieber Energy.
With three additional investment meetings scheduled in 2007, the Northwest Energy Angels group is supporting the regions surging development in energy alternatives.
Posted by Martin at July 11, 2007 12:34 AM
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