The coming of age of Canada’s clean-energy
They grow up too fast, originally uploaded by wiseacre
A “first of its kind” managed Canadian fund focused on clean-energy launched today, signaling a key step in the coming of age of this industry. The fund, launched by Criterion Investments Ltd., will be Canada’s first global clean energy fund. The reasons behind the launch indicate the significance of this milestone.
According to Ian McPherson, president of Criterion (as reported in the Toronto Star):
- The sector has matured; it’s no longer nascent
- (Canada has) very strong capital flows
- There’s some investment management talent in the area, whereas historically there’s been a real shortage
- And it’s on people’s radar screens. Clean energy has more mainstream acceptance
From the release:
The Fund will invest in equity securities of the leading companies at each stage of the transition to cleaner energy. The companies targeted will include:
- Firms in the fields of resources, technology and equipment, infrastructure and energy efficiency that contribute to or benefit from the transition to less carbon-intensive energy, and
- Firms that focus on carbon-free energy (such as solar, wind and hydroelectric); low-carbon energy (such as natural gas and biofuels); and energy efficiency (such as power monitoring and controls and batteries).
Kevin currently manages initial client engagements with the MaRS Venture Group. He also administers a federal fund that provides mentorship to start-up companies across Ontario.
[...] To follow up on a story from the 10th, in another sign of the maturation of the clean tech sector in Canada, Ottawa based Venture Coaches is in the process of raising a $100M fund to invest in home-grown clean technology companies. When launched early next year, it will be the first major fund dedicated to the Canadian market (other Canadian funds, such as Chrysalix Energy and Emerald Ventures, having invested heavily in the US and Europe). The “Canadian Cleantech Fund” focuses on companies engaged in the research, design, development, manufacture, marketing, sale and support of energy efficient materials; components, sub-systems, systems, and solutions for energy management; and innovative technologies improving fundamental processes with respect to energy and waste stream reductions. [...]
Posted by: MaRS Blog - Innovation and Commercialization in Canada » Blog Archive » The (continued) coming of age of Canada’s clean-energy on October 1st, 2007 at 5:08 pm