Cleantech Australia Fund seeks to fund small companies with high-potential renewable technologies
Posted by gmarkets on 17 October, 2007
The Cleantech Australia Fund, which Melbourne company Cleantech Ventures would manage, would invest $50 million in start-up companies to bring technologies from the research lab to the farm, power plant or factory, wrote Tim Colebatch in The Age (11/10/2007, p.B3).
Fast-growing investment sector: The fund was the product of the Federal Government’s Innovation Investment Fund program, which invested $20 million, and $30 million from VicSuper’s drive to invest in developing the technology to solve environmental problems. It would make Australia part of one of the world’s fastest-growing investment sectors. By last year, venture-capital investment in clean technologies in North America and Europe had doubled in two years, to $4 billion, as global investors sought what Cleantech Ventures’ principals Jan Dekker and Andrew Pickering called “the enabling technology of modem industrial society”. “We’ll be seeking for very small companies that have developed high-potential technologies, with a global perspective, and are looking for expansion funding to bring their technology to commercial readiness,” Dekker said.
Business expertise offered: “That means water, energy, advanced materials, biofuels, fuel efficiency – right across the clean technology spectrum. A lot of money has been invested through CSIRO and other avenues to develop the technologies, and they’re coming through now as start-up companies. We’ll invest in them, sit on their boards, provide them with commercial expertise, and network them with offshore clean technology partners who can bring them into the global market.” Cleantech Ventures also managed the Victorian Government’s $30 million Centre for Energy and Greenhouse Technologies, a seed fund to develop clean energy technologies through their demonstration stage.
The Age, 11/10/2007, p. B3