Braemar Energy Ventures Portfolio Companies Included in TIME Magazine's Top 20 Green Tech Ideas
December 6, 2010
For Immediate Release
Three portfolio companies (A123 Systems, Enerkem and Solazyme) featured in TIME Magazine annual list.
NEW YORK, New York (December 6, 2010) — Braemar Energy Ventures (“Braemar”), a venture capital fund making early- to mid-stage investments in the energy technology sector, is pleased to announce that three of its portfolio companies were included in TIME magazine’s list of Top 20 Green Tech Ideas, appearing in its December 6, 2010 issue. The publication lists 20 areas of innovation in the green tech field and points to several companies as leaders. Commending the U.S. as home to “what might be the world's most innovative entrepreneurs in clean tech,” the feature mentions Braemar portfolio companies A123 Systems, Enerkem and Solazyme.
“TIME recognizes that the pace of innovation in the energy industry continues to accelerate despite ups and downs largely on the legislative front,” said Neil S. Suslak, Managing Partner. “Most of the secular drivers for new technology remain unchanged and the broad range of ideas the magazine has chosen to highlight points to the evolving nature of our industry.”
A123 Systems (NASDAQ: AONE), a high-power lithium ion battery supplier, was dubbed one of the “future titans of a clean energy economy” by the magazine. Braemar invested in the Massachusetts-based company prior to its initial public offering, the largest of 2009.
Braemar portfolio company, Enerkem was cited in the list’s mention of innovations in the use of waste as feedstock to create energy. The company is a leading waste to biofuels and chemicals company whose technology converts residual materials, such as non-recyclable municipal solid waste, into clean transportation fuels, advanced chemicals and green electricity. Braemar participated in two rounds of financing for the company.
Solazyme, Inc., an industrial biotechnology company producing renewable oils and bioproducts using microalgae, is commended for its innovations in algae food. The company uses microbial fermentation to produce renewable oil that can be used for clean and scalable fuels, chemicals, nutritional food ingredients and health and wellness products. Braemar first invested in the company in July 2008 and has led two rounds of its venture capital financing.
About Braemar Energy Ventures
Founded in 2003, Braemar Energy Ventures is a leading venture capital firm focused on transformative energy-tech and related companies contributing to global sustainability and combating climate change. Using sector expertise and experience, Braemar aims to be an engaged partner with its portfolio companies to best help them navigate the path to significant global impact. For more information, visit braemarenergy.com or follow @BraemarEnergy on Twitter.