A record week in cleantech deals?

July 12, 2007 - Exclusive
By Dallas Kachan, Cleantech Group

This week in cleantech deals were all about quantity.

There were big ones. And lots of them.

Two large companies in Paris raised more than €3.1 billion between them alone.

And as a reminder that the internal combustion engine isn't going away anytime soon, four companies obtained funding for their clean diesel and fuel efficiency technologies.

The deals we saw this week:

  • Veolia Environnement, a world leader in environmental services, raised €2.6 billion from unnamed investors, issuing 51,941,040 new shares. The company claims its offering was oversubscribed by a factor of 1.5. The company says the raise "reinforces its capital position and enhances its financial flexibility to pursue its growth." Veolia Environnement recorded revenue of €28.6 billion in 2006. Follow our coverage of Veolia here.
  • Elsewhere in Paris, EDF Energies Nouvelles signed two project financing agreements worth a total amount of €500 million. €325 million is allocated for construction of the Alto Minho project in Northern Portugal, what is to be the largest wind farm in Europe (240 MW), and the other worth €175 million for construction of the Arada wind farm (112 MW). The two wind plants are due to enter service in 2008 and 2009.
  • O2Diesel, a company pursuing a cleaner-burning diesel fuel alternative, secured subscription agreements for approximately $1.9 million in financing from unnamed European institutional and private investors. O2Diesel intends to sell a total of 4,582,760 shares of its common stock at a purchase price of approximately $0.41 per share in a private placement, for total proceeds of $1,890,110. The financing is to close within 30 days.
  • Clean Diesel Technologies, a company focused on reducing engine emissions, received $7.1 million in gross proceeds from the exercise of warrants. The funds are to be used for continuing commercialization of the company's product and core technologies. Class A and Class B Warrants were issued in connection with a private placement arranged by Innovator Capital Limited, announced in January (see Cleantech.com's The allure of the ocean)
  • Ascent Solar also received some $20 million this week from the exercise of warrants. The additional capital received is enabling the company "to achieve significant milestones ahead of plan," it said. The company intends to start thin film manufacturing on its 1.5 megawatt (MW) pilot plant by year end. The additional capital received will be used to construct the first of four 25 MW production lines, it said.
  • Enerpulse of Albuquerque, New Mexico secured $5.5 million in a second round from Series B investors, including SAIL Ventures Partners and Altira Group. The company is launching its Pulstar™ Pulse Plugs, a spark plug replacement, aimed at improving fuel efficiency, torque and horsepower in vehicles. Altira previously provided financing for the company's research and development. The company's plugs fit into vehicles like spark plugs, but are more powerful.
  • Nomura’s New Energy & Clean Technology Ventures led a $14 million Series C round for SpectraSensors, a Rancho Cucamonga, California-based supplier of gas analyzer products. Existing investors American River Ventures, Blueprint Ventures and Nth Power also participated alongside new investor CTTV Investments, the venture capital arm of Chevron Technology Ventures.
  • Toronto-based 6N Silicon, a developer of solar grade silicon purification technology, secured $6 Million CDN in a first round of venture capital financing. Ventures West and Yaletown Venture Partners led the round. 6N Silicon was founded last year to develop and commercialize a new process for purifying inexpensive, readily available metallurgical grade silicon into solar grade silicon (learn more about metallurgical grade silicon in Cleantech.com's Meet professor sunshine)
  • SoloPower, a Granite Bay, California-based solar power specialist, raised an undisclosed amount in venture funding from Norwegian firm Convexa Capital. Returning investors included Crosslink Capital, Firsthand Capital Management and individual investors.
  • Cerion Energy secured $1.2 million in Series A funding from Braemar Energy Ventures and Excell Partners Inc. Cerion is a Rochester, N.Y.-based producer of catalytic nanoparticles used in fuel additives.
  • SkyFuel, a developer of utility-scale solar thermal projects, raised $1.6 million in a seed round of funding, according to a filing with the Securities and Exchange Commission. The financing was raised from angel investors.
  • Nanotron Technologies, a provider of energy-efficient wireless solutions, secured a €10 million in a round led by London based Cleantech investor zouk ventures. zouk joins the Nanotron investor syndicate, consisting of Polytechnos, Danfoss, and IBB Beteiligungsgesellschaft - VC Fonds Berlin. The executive management team also participated in the funding round. The company makes chip-based energy-efficient wireless products. Felix von Schubert, Partner at zouk ventures, is to join Nanotron’s board.
  • Techtium, an Israeli battery developer, secured $10 million for its second funding round, receiving commitments from Pitango Venture Capital and Poalim Ventures.
  • EMTA Holdings, an energy, fuel and environmental chemical company, raised $1.3 million in debt financing from an institutional investor. For more about EMTA, read Cleantech.com's Las Vegas city fleet reduces NOx 18% with additive.
  • Toledo, Ohio-based thin film develoepr MWOE Solar received $7 million in a Series A financing lead by Emerald Technology Ventures. The investment is Emerald's first in thin film solar. The company, like other thin film solar developers, is developing a process to use only a small fraction of the silicon used in traditional photovoltaic manufacturing processes. The company was formed in 2002 as Midwest Optoelectronics.
  • A syndicate of Norwegian investors led by the state energy company Statoil ASA invested NOK150 million ($26 million USD equivalent) in Sway AS to develop the company's technology for harvesting deep-sea wind. The Bergen, Norway-based start-up, which was spun out of Inocean AS, has designed a floating wind turbine that can be built offshore in waters several hundred meters deep and can withstand rough weather conditions, the company said.

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