Cleantech
With the publication of its report in January 2007, Cleantech: A New Engine of Economic Growth for New York State, the Investment Fund began focusing on investments in the burgeoning clean technology or “cleantech” sector (i.e. energy management, alternative energy, sustainable materials, air and water technologies). NYCIF’s objective is to encourage cleantech companies to launch and grow their businesses in New York—and not just to sell their products here. In addition, the Fund is interested in those companies or projects that help meet some of the energy, emissions reductions and air/water quality goals laid out in Mayor Bloomberg’s PlaNYC 2030. NYCIF was an investor in CPower, Inc., which offers demand response and other energy management services and was acquired by Constellation Energy in 2010.
Sector investments include:
EnergyHub
Solar Energy Systems Holding, Inc.
OwnEnergy, Inc.
US Energy Group, Inc.
NYC ACRE
NYCIF is a partner in The New York City Accelerator for a Clean and Renewable Economy (NYC ACRE), which is focused on growing an ecosystem of entrepreneurs, international companies, and innovative local businesses that are providing solutions to climate and energy issues while creating jobs in NYC. Other partners include NYU-Polytechnic, the New York City Economic Development Corporation, Columbia University and the Pratt Institute.
NYC ACRE is seeded by a four year, $1.6M grant from the New York State Energy and Research Development Authority (NYSERDA).
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