12 Companies Get Funding Through Element 8
New and follow-on investments fuel growth in range of clean technologies
SEATTLE (June 19, 2015), So far this year Element 8 members have invested $1.4 million in 12 companies (both new and follow-on) with several more in the due diligence stage, the organization announced today. Since its founding in 2006, Element 8 members have invested more than $20 million in nearly 60 companies.
Investments spanned a number of categories from renewable energy, to water technology, energy efficiency, green chemicals and green building. Investments in renewable energy production and storage include: ConnectDER (www.connectder.com); Empower Micro Systems (www.empowermicro.com), Axiom Exergy (www.axiomexergy.com) and WISErg (http://www.wiserg.com); and Energy Storage Systems (www.energystoragesystems.com). Additionally, Element 8 members invested in energy efficiency with Intellihot (www.intellihot.com), Indow (www.indowwindows.com) and SparkFund (www.sparkfund.co); water technology with APANA (www.apana.com) and PotaVida (http://www.potavida.com); green chemicals with TBF Environmental Technology (www.tbfenvironmental.com); and green building with Green Canopy Homes (www.greencanopyhomes.com).
“We continue to see strong interest in grid-related technologies,” said Bill Lemon, co-chair of Element 8. “From technology to produce clean energy, to batteries to store it and to technologies and funds to more efficiently consume it, it’s clear that as renewable energy gains marketshare, the industry is responding with increased innovation.”
Element 8 is comprised of angel investors from across the Pacific Northwest and beyond, themselves successful executives and entrepreneurs, who provide investment capital, contacts and strategic advice to help early-stage companies achieve market success. Members, whether seasoned investors or new angels, gain access to quality deal flow and the tools for successful investing. Cooperative due diligence, a powerful business network, and relevant, timely education allow members to make individual investment decisions, and to build a unique and diverse portfolio that matches their interests and goals.
“Element 8 is the ‘go-to’ group for early stage clean tech companies,” said Kristi Growdon, executive director of Element 8. “Our portfolio companies tell us that no other group has quite the same level of understanding of the space, connections and the willingness to be an active partner in the success of the venture. The variety of technologies we’ve invested in so far reflects that sentiment.”
About Element 8
Founded in 2006 as Northwest Energy Angels and renamed Element 8 in 2014, the organization was the first angel investment group in North America to focus exclusively on cleantech, and continues to be a leading funder of early stage companies across the continent. Element 8’s accredited investors are committed to a prosperous and sustainable future through clean technologies. Element 8 partners with outstanding entrepreneurs to build successful companies, and leverages its members’ collective expertise to accelerate the transition to a cleaner future and better world. To date, members have invested more than $20 million in nearly 60 companies in California, Colorado, Hawaii, Illinois, Maryland, Montana, New York, Oregon, Washington, Washington, D.C. and British Columbia, Canada. More information is available at: www.element8angels.com.
John Williams, Scoville Public Relations