NW Energy Angels invested close to $4.7M in 2012
By Christina Williams
Sustainable Business Oregon editor
Regional investment network Northwest Energy Angels announced Tuesday that the group invested $4,696,500 in 15 cleantech companies in 2012 — the biggest investment year since the group was founded in 2006.
Sustainable Business Oregon reported last May that the Seattle-based angel investment group put a total of $6.3 million in 34 companies since 2006.
In 2012, Northwest Energy Angels backed eight new investments and made follow-on commitments to seven companies. The companies were based in Oregon, California and Maryland. The group also saw a successful exit by one of its earlier investments, Portland-based Virticus, which was purchased by LSI Industries Inc.
The group's eight new investments were made in:
- Pacific Light Technologies, a LED lighting company.
- Ethical Electric, a clean energy marketing firm.
- Indow Windows, the Portland maker of energy efficient window inserts.
- Scope 5, a sustainability data management company.
- Fledge, the Seattle-based green business incubator.
- Empower Micro System, a power inversion company.
- Columbia Green, the Portland ecoroof company.
- Greenwood Energy, a biomass-based boiler company.
Officials at the angel group pointed out that their record year came in the midst of a slowdown in cleantech investing overall.
"While overall investments in cleantech may have been down, the need to find solutions to climate change has never been greater," said Lars Johansson, co-chair of the Northwest Energy Angels, in a press release. "We will continue to be a unique and valuable resource for clean technology entrepreneurs seeking seed capital for innovative new products and technologies."
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