19 MAR 2010

 

Green Edge Ventures Launches With $10 Million To Fund Early-Stage Cos

By Mara Lemos Stein, Venture Capital

Green Edge Ventures LLC said Thursday it was open for business, with $10 million in capital to help finance and advance the business plans of early-stage clean technology and renewable energy companies, said Chester Aldridge, Green Edge's chief executive, in an interview.

The San Anselmo, California-based incubator and financing company, formed and funded by the management team of advisory firm U.S. Trust Corp., will be looking across all sectors of the renewable energy and clean technology universe, said Aldridge. Because of the previous experience of some of Green Edge's executives in solar, the company is currently considering investments in three companies involved in solar technology, he said.

As the deals aren't yet closed, Aldridge declined to discuss details.

The new firm will soon announce a partnership with a strategic "world renowned group" that will help it validate the technology of potential investments, said Aldridge.

"The group is strong in renewable energy and clean technology, they deal with universities to validate the technology," he said. With the input from the new partner, Green Edge will get a clearer picture about start-ups' development-stage and technology patent profile. That will enable Green Edge to apply its expertise in devising a strategy for commercial licenses and funding, said Aldridge.

Besides his position as CEO of U.S. Trust Corp., Aldridge is also an advisor to the TechBridge Program run by the Fraunhofer Center for Sustainable Energy Systems, a non-profit applied research and development laboratory in Cambridge, Mass. He is also the co-founder of Equity Solar, a solar cell manufacturing technology developer, and of The Royal Factory, a music label.