Northwest Energy Angels Invests More than $1.8 Million in 10 Clean Technology Companies in First Half of 2013

Amount is two thirds of total (non-institutional) investments in 2012

SEATTLE (June 28, 2013) Northwest Energy Angels (NWEA) (www.nwenergyangels.com) announced it has invested a total of $1,848,800 in ten clean technology companies during the first half of 2013. The amount is two-thirds of the total amount invested during all of 2012 by NWEA (not counting institutional investments). More than half of the investments were made in companies outside the state of Washington, continuing a trend of out-of-state interest in NWEA among cleantech entrepreneurs.

NWEA invested (and in some cases, re-invested) in companies that span the spectrum of cleantech innovation, from electric motorcycles and home retrofitting, to solar inverters and high efficiency motor drives, to a social innovation incubator. Companies include:

  • Blue Marble Biomaterials: manufacturers specialty biochemicals
  • Brammo, Inc.: builds electric vehicles, currently focused on motorcycles
  • Empower Micro Systems: designs low cost solar energy inverters
  • Fledge: social innovation incubator
  • Flux Drive: designs and manufactures permanent magnet adjustable speed drives
  • Green Canopy Homes: rebuilds homes focused on sustainability, energy efficiency and a modern lifestyle
  • Greenwood Clean Energy: designs and manufactures clean, biomass-fired central heating appliances
  • Indow Windows: produces energy saving thermal window inserts that press into existing window frames
  • OndaVia, Inc.: uses nanotechnology and microfluidics to quickly and easily detect contaminants
  • Ryno Motors: designs and sells self-balancing, one wheel, electric scooters

With an average investment of nearly $200,000 and several transactions in which NWEA was the lead or the close, the group continues to play a critical role in seeding promising young companies.

NWEA presented the mid-year results at its Summer Showcase event which took place last night at the offices of Fledge, one of NWEA’s newest investments, where it also featured updates and presentations from several past and recent portfolio companies.

The uptick in investments in early stage cleantech companies by NWEA mirrors trends happening outside the Northwest. According to the Cleantech Group’s Quarterly Investment Monitor, “After falling from 50 percent of all venture deals in 2008 to below 40 percent in 2012, early stage cleantech companies claimed 47 percent of all deals in 1Q13.”

“We’ve been pleased with the number, quality and diversity of deals we’ve seen come our way so far this year, and our investment level reflects our enthusiasm,” said Byron McCann, co-chair of NWEA. “We continue to be the angel group of choice for cleantech entrepreneurs from far beyond the Pacific Northwest, given our knowledge base, network and success in helping fund and grow great ideas and technologies into great companies.”

NWEA is made of up of more than 60 accredited angel investors from across the Pacific Northwest who are successful executives and entrepreneurs providing investment capital, contacts and strategic advice to help young companies achieve market leadership. Since its founding in 2006, NWEA members have invested more than $12 million in 41 companies.

The group includes seasoned angel investors and venture capitalists, as well as new angels learning by participating in a cooperative and supportive environment. NWEA provides members with the tools for successful angel investing through a powerful business network and by providing quality deal flow, cooperative due diligence and relevant, timely education.

About Northwest Energy Angels
Northwest Energy Angel members are committed to a prosperous and sustainable future through clean technologies. Founded in 2006, Northwest Energy Angels 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 country. We partner with outstanding entrepreneurs to build successful companies, and leverage our collective expertise to accelerate the transition to a cleaner future and better world. To date, members have invested more than $12 million in 41 companies in Washington, Oregon, California, Colorado, Maryland, Washington, D.C. and British Columbia, Canada. More information is available at: www.nwenergyangels.com

Media Contact
Nate Kommers, Scoville PR
nate.kommers@scovillepr.com
206-625-0075 x2

#####

BECOME A MEMBER
TODAY

Learn more

May 25, 2017

May Member Meeting
Learn more

June 06, 2017

Summer Showcase
Learn more