Investments

Bank Of America Investment Martin Roscheisen, CEO of Nanosolar Inc., holds up a plastic vial filled with dark, purple liquid -- the secret ingredient behind a new kind of technology startup that's turning heads in Silicon Valley.

That's where the consumer Internet is today, said Jim Breyer of Accel, a venture capitalist since 1989 who led his firm's investment in Thefacebook. "Unfortunately, " Mr. Breyer said, "the venture business tends to be characterized by booms and busts."

Investment Opportunity In a private laboratory here, Nanosolar scientists are designing low-cost solar electricity cells that Roscheisen submits will make solar power competitive with conventional energy sources.

UV Partners Since Huntsman joined UV Partners in 2004, she has successfully led investments for the venture capital firm expanding its focus in the life science field. She transitioned from a career path in academic science to business, bringing technical expertise and fresh perspective to the group. She is Utah's first female venture capitalist. reviewed journals. profit organization Interplast.

Banc Of America Investment The purple liquid is a nano-engineered material that "self-assembles" into tiny solar cells that convert sunlight into electricity.

At one time, he was also a venture capitalist who invested in an internet publishing house which has since been bought out by Random House. Other than his tree farm, he has also been a venture capitalist in vegetarian foodstuffs related technologies.

Banking Investment "We're at the threshold of making solar electricity profitable," says Roscheisen, whose firm raised $6.5 million last year from U.S. Venture Partners, Benchmark Capital and other investors. "We're seeing a lot of interest. We're being contacted all the time by investors."

By design, SAP Ventures is a small worldwide team. Our five investment professionals focus an intense level of attention on our investment portfolio, which comprises companies in Europe, the United States and Israel. We invest selectively in emerging technology that combines large market potential with high growth opportunity. With a venture capital partnership model and the autonomy to pursue investment areas not immediately connected with SAP's core business, SAP Ventures has invested in more than 50 direct equity deals, building a track record of success throughout our history.

Investment Solution Strategic Across the country, venture capitalists are opening their wallets to upstarts that, like Nanosolar, develop "clean" technologies in anticipation of a growing market for products that generate revenue without harming the environment.

Private, backed venture funds and business angel networks invested á45.7 million in small firms during this period, compared to á42.6 million in the year to the end of August 2005. The medical sector again proved to be the most popular for small business investment, while companies in London gained the highest number of deals. However, Modwenna Rees Mogg, managing director of Venture Index, "Regional investment levels are becoming exciting and we continue to see regional pockets come through that are not traditionally associated with venture investment, such as the West Country."

Investment Banking Services In 2003, investment in clean technology ventures rose 8 percent to $1.2 billion while overall venture capital investment fell 14 percent to $18.2 billion, according to the Cleantech Investor Network. The Howell, Mich.-based group defines clean technologies as technologies that allow for more efficient use of natural resources and greatly reduce ecological impact.

Bank Investment Venture capital firms are pouring money into clean technologies related to water purification, agriculture, transportation, manufacturing, recycling, air quality and alternative energy such as solar, wind and hydrogen.

Alternative Investment "We're getting a bigger and bigger piece of the pie year after year," said Keith Raab, Cleantech's president and chief executive. He expects more than 300 attendees at the Cleantech Venture Forum in San Francisco April 28-30.

Online Investment Services Among the startups that pulled in the most money last year were Evergreen Solar Inc., a Marlboro, Mass.-based developer solar electricity systems that raised $29.5 million, and Powerspan Corp., a New Durham, N.H.-based maker of pollution-control technology for the energy industry that secured $20 million.

Accompany Essential Investment Still, some venture capitalists remain wary about investing in environmentally friendly companies after getting burned in the 1980s, when solar and wind energy startups raked in venture dollars, and in the 1990s, when hydrogen fuel cells were hot.

Investment Company Nanosolar was the first green venture investment for Menlo Park-based Benchmark Capital, but general partner Bill Gurley said the decision was motivated more by its belief in the startup's management team than the sector itself.

Investment Management Solution "There haven't been a lot of success stories in the cleantech space," Gurley said.

Investment Management Services "There's no Microsoft, eBay or Cisco that says this is a fertile ground for venture investment."

Guide Investment Stock Others believe the latest funding boom is different -- that a variety of technological, political and economic forces have converged to make clean technologies ripe for investment.

Investment Manual Solution "The fundamental economics suggest there's a good payout for a whole fleet of alternative, renewable technologies," said Kyle Datta, managing director of the Rocky Mountain Institute, a Snowmass, Colo.-based nonprofit that promotes eco-friendly capitalism.

Investment Stock The sector has gotten a boost from a new California plan to invest $1.5 billion of the state's pension funds in environmental technologies. State Treasurer Phil Angelides said the "Green Wave" initiative is aimed at helping the state improve financial returns, generate jobs and clean up the environment.

Essential Investment Solution "I want to see California in the best position to reap the benefits of this growing sector of the global economy," Angelides said in an interview.

Citicorp Investment Services The California Public Employees' Retirement System, the nation's largest pension fund, voted in March to invest $200 million in clean technology startups, and agreed this month to pump $500 million into environmentally responsible stocks and mutual funds.

Fool Guide Investment Motley "This is just the tip of the iceberg," said the Cleantech Venture Network's Raab. "I think you'll see other pension funds following suit."

Fidelity Investment Services The market for alternative energy is sure to grow as global oil prices rise, fossil fuels become more scarce, states look for more reliable energy supplies and the United States reduces its dependence on foreign oil, investors say.

Investment Management "There are other people at the table that are changing the supply and demand curve on a global scale," said Erik Straser, general partner at Mohr Davidow Ventures in Menlo Park. "The Chinese and Indian governments are seeking a better way of life for their citizens. To do that they need access to energy."

Francisco Investment San The market for clean technologies also is being driven by increasingly stringent regulations on air, water and energy. And as the Internet, telecommunications and computer sectors mature, venture capital firms with plenty of money to spend are hunting for new markets.

Mellon Investment Services On top of that, many corporations are now keen to promote "green" business practices, if only to show they're good corporate citizens.

Finance Investment "If you can cut costs and reduce pollution, it's attractive to your investors, employees and customers," said Bob Epstein, co-founder of the nonprofit group Environmental Entrepreneurs.

Investment Manual Science It helps that the sector is attracting more seasoned entrepreneurs such as Nanosolar co-founder Roscheisen, who previously started the Internet firm eGroups and sold it to Yahoo Inc. for $720 million in 2001.

Investment Advisory Services Nevertheless, many venture capitalists urge caution in investing in "clean tech", given that the sector has many unproven technologies, a complex marketplace and a history of poor returns.

Advice Investment "People sell so much on the promise and don't spend enough time on the execution," said Benchmark's Gurley. "You set yourself up for a bubble that can pop."

Guide Investment By Terence Chea
Associated Press - 4/24/2004

Topic: Green Living

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