Seattle, WA — The Northwest Energy Angels™ group has
completed seven energy-sector investment deals in the first half of 2007,
exceeding the total number of investments the group made in 2006.
The Northwest Energy Angels invested $205,000 in seven deals during the
period January through June, 2007. In comparison, the group completed six
investments with a total value of $368,000 during calendar year 2006. Twentyeight
companies have presented to the group since its inception in January 2006.
“These investments are crucial to companies from the time they bring their
innovations out of the lab until they find a utility and local government to work
with,” says Jeff Morris, Director of the Northwest Energy Technology
Collaborative which facilitates the investment group.
Morris notes that the Northwest Energy Angels is unique in that it is the first
angel investment group in North America to focus only on the energy industry,
including alternative sources of energy. The group has 40 members covering
Oregon, Washington and British Columbia.
Kirk Washington of British Columbia’s Yaletown Venture Partners believes that
the entrepreneurs and the regional focus on sustainability create unique clean
technology investment opportunities.
“We are strong believers that the Pacific Northwest, from Portland, Oregon to
Vancouver, British Columbia, with Seattle as the centerpiece, will become an
important new energy economy hub,” says Washington, whose Yaletown
Venture Partners focuses on early-stage clean technology and information
technology investments.
Companies receiving investments from the Northwest Energy Angels since 2006
include: ADI Thermal Power Corp.; Delaware Power Systems Corp.; Novinium,
Inc.; Propel Biofuels; Ridgeline Energy, LLC; and SyncWave Energy Inc.
With three additional investment meetings scheduled in 2007, the Northwest
Energy Angels group is supporting the region’s surging development in energy
alternatives.
About Northwest Energy Technology Collaborative
The Northwest Energy Technology Collaborative is a joint effort of business, government, non-profit and educational
institutions determined to accelerate the emergence and growth of the energy technology industry
in the Pacific Northwest region of North America.
The Collaborative will bring the region's cutting edge energy development to the world by addressing opportunities,
expanding the economic base, and furthering the development of new and emerging technologies and their global
deployment. We promote synergies between businesses, educational institutions, nonprofits and the government.
The Collaborative is the flagship project of the Washington Technology Center's Industry Initiative Program and was joined by Avista Corporation, Bonneville Power Administration, Inland Northwest Technology Education Center, Pacific Northwest National Laboratory, Puget Sound Energy, Spokane Intercollegiate Research and Technology Institute and the
Washington Department of Community, Trade and Economic Development.
Website: http://www.nwetc.com
Northwest Energy Technology Collaborative
Jeff Morris, Director
email: morrisje@watechcenter.org
phone: 360-941-5678
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