Venture capitalists eye 'clean tech' firms
Roger Fillion, Rocky Mountain News
Published February 21, 2007 at midnight
BEAVER CREEK - Deep-pocketed venture capitalists gathering here said they are eyeing "clean technology" companies as a new place to invest their cash and that Colorado offers good opportunities.
Such technology includes everything from solar energy and alternative fuels to recycling as well as newfangled battery systems.
"It's something we want to explore. It has a presence in Colorado," said Dan Mitchell, a partner with Sequel Venture Partners in Boulder.
"There's a lot of talent on the table here," Mitchell said of the state, citing the presence of the National Renewable Energy Laboratory in Golden.
Gov. Bill Ritter has touted renewable energy as a top priority for his administration.
Lucinda Stewart, a partner at OVP Ventures in Seattle, echoed that "it's a good time" to raise money for a venture fund geared toward clean technologies.
The venture capitalists were among those participating in a media roundtable at the start of the Venture Capital in the Rockies conference, hosted by the Colorado Venture Capital Association and accounting firm KPMG. It runs through Thursday.
Clean technology investment would be a new area for Colorado. The state typically has attracted venture funding in software, data storage, biotech and the consumer sector. The latter includes restaurant chains and shoemaker Crocs Inc.
Other states, too, are expected to push their clean technology companies and the opportunities for investing venture dollars in them.
"California has . . . been very aggressive in courting the VC community," said Mark Heesen, president of the National Venture Capital Association. He also pointed to Pennsylvania.
"Colorado has to be very aggressive very quickly," added Heesen. One way the state can follow up, he said, is to offer government subsidies for emerging clean technology companies.
"This is an area where subsidies are very important," said Heesen. "You have to give these smaller industries a jump-start."
Featured
-
Through Your Lens
Submit your photos or see the Editor's Choice slide show here.
-
Rocky Multimedia
The news comes alive in our videos and slide shows. Catch up on what's happening today.
-
Holiday Lights
Is your house the jolliest on the block? Submit your holiday lights display.
-
Holiday Gift Guide
Looking to get a jump-start on the holiday shopping season?
-
Mount Crushmore
Which four Broncos greats should be immortalized on Mount Crushmore? Vote here.
-
Bronco Dean's rant
Listen to Bronco Dean's midweek rant on the Chiefs.
-
Broncos Video
Get the latest from Dove Valley as the Broncos prepare for Sunday's matchup.
-
Calendar wallpaper
Download this month's desktop wallpaper calendar
-
Sam Adams' Open Mic
Open Mic: Stirrin' the Soup with Matt Iseman
Post your comment
Registration is required. Click here to create your free user account, or login below.
Comments are the sole responsibility of the person posting them. You agree not to post comments that are off topic, defamatory, obscene, abusive, threatening or an invasion of privacy. Violators may be banned. Click here for our full user agreement.