The New Big Three in Cleantech Funding?

by Richard T. Stuebi

Last month, three behemoths in the energy sector — GE (NYSE: GE), NRG Energy (NYSE: NRG) and ConocoPhillips (NYSE: COP) — announced that they were forming a joint venture to invest in cleantech opportunities.

The creatively named Energy Technology Ventures plans to fund 30 companies over the next four years, based on a $300 million financial commitment from the three partners.

The ETV website is barebones, just a single home page, other than the launch press release, offering no indication of the team responsible for its success.   

According to the sole page on the site, ETV is interested in “venture- and growth-stage energy technology companies in the renewable power generation, smart grid, energy efficiency, oil, natural gas, coal and nuclear energy, emission controls, water and biofuels sectors, primarily in North America, Europe and Israel.” 

The first three investments of ETV are in Alta Devices (materials to reduce costs of solar energy), Ciris Energy (biochemical conversion of coal to methane), and CoolPlanetBioFuels (conversion of low-grade biomass into fuel and carbon). 

If you’re interested in introducing yourself to ETV, contact them here — though they warn it’s a “don’t call us, we’ll call you” situation.

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