Clean Energy Venture Group

Clean Energy Venture Group, founded in 2005 and based in Cambridge, Massachusetts, is an angel investment group that specializes in providing seed capital and management expertise to early-stage clean energy companies. Comprised of experienced executives with a strong background in energy and environmental sectors, the group leverages its investment capital along with valuable industry knowledge and networking opportunities to support the growth of its portfolio companies. While its primary focus is on the Northeast United States, Clean Energy Venture Group has also collaborated with businesses across the country and in Canada, targeting investments in various sectors, including cleantech and climate technology.

Anne Andrew

Partner

Ralph Earle III

Managing Director

James Ellis

Partner

Temple Fennell

Co-Founder and Managing Partner

Virginia Foote

Partner

Renu Gupta

Partner

Tal Levy

Partner

Francois Odouard

Partner

Wanda Reindorf

CFO and Managing Director

John Santoleri

Partner

Peter Schewinfurth

Partner

Cara Tobin

Partner

Mitchell G. Tyson

Partner

Jeffrey Weiss

Partner

John Wisniewski

Partner

Zaurie Zimmerman

Partner

David Miller Ph.D

Co-Founder and Managing Partner

Kedar Gupta Ph.D

Partner

Past deals in Energy Management

Electrified Thermal Solutions

Venture Round in 2022
Electrified Thermal Solutions is a company focused on decarbonizing industrial processes by replacing fossil fuels with renewable heat. Founded in 2021 and based in Medford, Massachusetts, the company originated from research conducted at MIT's Department of Nuclear Science and Engineering. Its innovative approach involves developing energy storage technology that converts intermittent renewable electricity into constant heat using low-cost conductive ceramic blocks. This technology enables various industrial sectors to utilize zero-carbon heat, contributing to a significant reduction in energy consumption's carbon footprint. Through its efforts, Electrified Thermal Solutions aims to facilitate an energy revolution that promotes sustainability in industrial applications.

Energetic Capital

Series A in 2021
Energetic Insurance, Inc. is an InsurTech company based in Boston, Massachusetts, founded in 2016. The company specializes in providing solar insurance solutions aimed at mitigating credit and counterparty risks associated with commercial and industrial solar photovoltaic projects. Its flagship product, EneRate, offers coverage for third-party solar developers and asset owners, protecting them against payment default risks and revenue losses when off-takers fail to meet their Power Purchase Agreement (PPA) obligations. Additionally, Energetic Insurance has developed a systematic approach to address off-taker payment defaults, thereby facilitating solar financing for organizations that are unrated or classified as below investment grade. This innovative, data-driven methodology aims to enhance risk management within the renewable energy sector, promoting increased project deployment and capital investment in solar initiatives.

60Hertz

Series A in 2021
60Hertz provides a Maintenance Management Software platform designed specifically for people managing remote energy assets such as microgrids.

Pearl Certification

Series A in 2021
Pearl Certification, founded in 2015 and based in Virginia, specializes in providing home energy efficiency certification programs. The company offers independent verification of home features that enhance comfort, energy performance, and indoor air quality. By collaborating with real estate agents, contractors, and builders, Pearl supports homeowners in increasing the value of their properties, thereby instilling greater buyer confidence during real estate transactions. Its certification process serves as a vital resource for homeowners seeking to document their property’s energy efficiency and sustainability, which can be particularly beneficial for refinancing or resale purposes.

LineVision

Series B in 2021
LineVision, Inc. specializes in developing transmission line monitoring systems tailored for utilities. Founded in 2018 and based in Somerville, Massachusetts, the company offers a suite of advanced, non-contact sensors and analytics that enhance transmission line capacity, resilience, and safety. Its monitoring solutions provide utilities with crucial visibility into asset health, enabling optimized asset management without requiring outages or specialized equipment. The system includes features such as dynamic line ratings, secure web interfaces, and comprehensive data analytics, allowing for reliable assessment and profiling of transmission conductors. This innovative approach equips utilities with the tools necessary to improve the performance of the electric power grid.

Cleartrace

Series A in 2020
ClearTrace Technologies, Inc. is a software company that specializes in blockchain-based carbon accounting and automated energy solutions. Founded in 2017 and headquartered in Austin, Texas, ClearTrace offers a cloud-based platform that generates verifiable digital records of energy usage and tracks various aspects of energy supply, including financial power purchase agreements and demand response activities. The platform aims to provide transparency and accuracy in energy emissions data, enabling clients such as renewable energy suppliers, corporations, and real estate owners to substantiate their claims of carbon reductions and sustainability. By facilitating compliance and reporting within the energy supply chain, ClearTrace helps prevent greenwashing and supports corporate decarbonization efforts.

SunDensity

Seed Round in 2020
SunDensity Inc. specializes in the research, design, and development of Photonic Smart Coating technology, specifically its patent-pending PSC™. This innovative technology facilitates the up and down conversion of light wavelengths, addressing inefficiencies in photonics. The company's products aim to enhance the efficiency of solar photovoltaics, thereby reducing electricity generation costs. In addition, SunDensity's technology allows for the customization of thermal and optical properties in architectural glass and increases the quantum efficiency of optoelectronic instruments. Founded in 2016, SunDensity is headquartered in Boston, Massachusetts, with an additional office in Rochester, New York.

SparkMeter

Series A in 2020
SparkMeter, Inc. specializes in electricity metering systems tailored for rural and urban utilities in developing markets. Founded in 2012 and headquartered in Washington, D.C., with an additional office in Nairobi, Kenya, the company offers a range of products including smart meters designed for residential, commercial, and industrial applications. SparkMeter's solutions facilitate prepaid billing, enhance customer communications, and enable remote monitoring and control, thereby improving grid efficiency and asset performance. By integrating their metering technology with software solutions, SparkMeter enables microgrids and distribution utilities to optimize operations, providing reliable electricity access in underserved areas. This approach not only supports the expansion of electricity distribution but also fosters investments in renewable energy and energy efficiency.

ConnectDER

Series B in 2020
ConnectDER LLC specializes in designing and manufacturing solutions that facilitate the connection of grid-ready distributed energy resources, particularly solar photovoltaic systems. The company creates a connection point that installs between residential electric meters and meter sockets, enhancing the integration of renewable energy. Additionally, ConnectDER offers a cloud-based platform that allows fleet operators to access metering and operational data, as well as manage the commissioning and decommissioning of ConnectDER units, including firmware updates. Founded in 2011 and based in Philadelphia, Pennsylvania, ConnectDER was previously known as Infinite Invention LLC before rebranding in 2015. The company aims to provide effective solutions to complex challenges in the power and water sectors.

Pearl Certification

Series A in 2019
Pearl Certification, founded in 2015 and based in Virginia, specializes in providing home energy efficiency certification programs. The company offers independent verification of home features that enhance comfort, energy performance, and indoor air quality. By collaborating with real estate agents, contractors, and builders, Pearl supports homeowners in increasing the value of their properties, thereby instilling greater buyer confidence during real estate transactions. Its certification process serves as a vital resource for homeowners seeking to document their property’s energy efficiency and sustainability, which can be particularly beneficial for refinancing or resale purposes.

SparkMeter

Series A in 2019
SparkMeter, Inc. specializes in electricity metering systems tailored for rural and urban utilities in developing markets. Founded in 2012 and headquartered in Washington, D.C., with an additional office in Nairobi, Kenya, the company offers a range of products including smart meters designed for residential, commercial, and industrial applications. SparkMeter's solutions facilitate prepaid billing, enhance customer communications, and enable remote monitoring and control, thereby improving grid efficiency and asset performance. By integrating their metering technology with software solutions, SparkMeter enables microgrids and distribution utilities to optimize operations, providing reliable electricity access in underserved areas. This approach not only supports the expansion of electricity distribution but also fosters investments in renewable energy and energy efficiency.

Energetic Capital

Seed Round in 2019
Energetic Insurance, Inc. is an InsurTech company based in Boston, Massachusetts, founded in 2016. The company specializes in providing solar insurance solutions aimed at mitigating credit and counterparty risks associated with commercial and industrial solar photovoltaic projects. Its flagship product, EneRate, offers coverage for third-party solar developers and asset owners, protecting them against payment default risks and revenue losses when off-takers fail to meet their Power Purchase Agreement (PPA) obligations. Additionally, Energetic Insurance has developed a systematic approach to address off-taker payment defaults, thereby facilitating solar financing for organizations that are unrated or classified as below investment grade. This innovative, data-driven methodology aims to enhance risk management within the renewable energy sector, promoting increased project deployment and capital investment in solar initiatives.

LineVision

Series A in 2019
LineVision, Inc. specializes in developing transmission line monitoring systems tailored for utilities. Founded in 2018 and based in Somerville, Massachusetts, the company offers a suite of advanced, non-contact sensors and analytics that enhance transmission line capacity, resilience, and safety. Its monitoring solutions provide utilities with crucial visibility into asset health, enabling optimized asset management without requiring outages or specialized equipment. The system includes features such as dynamic line ratings, secure web interfaces, and comprehensive data analytics, allowing for reliable assessment and profiling of transmission conductors. This innovative approach equips utilities with the tools necessary to improve the performance of the electric power grid.

SparkMeter

Seed Round in 2018
SparkMeter, Inc. specializes in electricity metering systems tailored for rural and urban utilities in developing markets. Founded in 2012 and headquartered in Washington, D.C., with an additional office in Nairobi, Kenya, the company offers a range of products including smart meters designed for residential, commercial, and industrial applications. SparkMeter's solutions facilitate prepaid billing, enhance customer communications, and enable remote monitoring and control, thereby improving grid efficiency and asset performance. By integrating their metering technology with software solutions, SparkMeter enables microgrids and distribution utilities to optimize operations, providing reliable electricity access in underserved areas. This approach not only supports the expansion of electricity distribution but also fosters investments in renewable energy and energy efficiency.

EnergySage

Series A in 2018
EnergySage, LLC operates an online marketplace designed to facilitate the adoption of solar and other clean energy technologies for homeowners, businesses, and non-profits. Founded in 2009 and based in Boston, Massachusetts, the company provides educational resources and analytical tools that assist consumers in identifying appropriate clean energy solutions. Its platform allows users to request and compare competitive quotes from pre-screened installers for a variety of products and services, including rooftop solar, battery storage, community solar, heat pumps, and electric vehicle charging systems. This streamlined approach enables consumers to make informed decisions regarding their energy needs in a convenient and cost-effective manner.

Energetic Capital

Convertible Note in 2017
Energetic Insurance, Inc. is an InsurTech company based in Boston, Massachusetts, founded in 2016. The company specializes in providing solar insurance solutions aimed at mitigating credit and counterparty risks associated with commercial and industrial solar photovoltaic projects. Its flagship product, EneRate, offers coverage for third-party solar developers and asset owners, protecting them against payment default risks and revenue losses when off-takers fail to meet their Power Purchase Agreement (PPA) obligations. Additionally, Energetic Insurance has developed a systematic approach to address off-taker payment defaults, thereby facilitating solar financing for organizations that are unrated or classified as below investment grade. This innovative, data-driven methodology aims to enhance risk management within the renewable energy sector, promoting increased project deployment and capital investment in solar initiatives.

CIMCON Lighting

Series B in 2017
CIMCON Lighting, Inc. specializes in developing web-based wireless outdoor lighting management solutions for various types of street lights, including traditional, LED, and solar. The company's systems enable utilities, municipalities, and commercial customers to monitor and control outdoor lighting fixtures effectively. Its offerings include LightingGale software for automated streetlight management, the iSLC-3100 wireless lighting controller, and the NearSky platform, which facilitates the integration of smart city applications such as air quality monitoring and public safety enhancements. CIMCON's technologies have been implemented in over 50 cities across 16 countries, contributing to decreased energy consumption and maintenance costs. The company serves a diverse clientele, including outdoor lighting manufacturers, contractors, and government entities, and is headquartered in Burlington, Massachusetts. Founded in 2012, CIMCON Lighting aims to improve urban living by leveraging existing streetlight infrastructure as a foundation for connected smart city solutions.

Pika Energy

Series A in 2016
Pika Energy, Inc. is a Westbrook, Maine-based manufacturer of direct current (DC) power electronics. Our nanogrid technology is installed throughout the United States and Canada and in several overseas markets. All Pika Energy products are designed, tested, and manufactured in the United States, using domestic materials. Founded in 2010 by MIT-educated engineers, Pika Energy manufactures high-efficiency, bidirectional inverters and charge controllers, small wind turbines, and substring solar optimizers.

Solantro Semiconductor

Venture Round in 2015
Solantro is a leader in module integrated electronic technology for intelligent solar solutions. The company has assembled a team of proven entrepreneurs with deep experience in system architecture, semiconductors, power conversion, RF and distributed communications systems.

7AC Tech

Debt Financing in 2011
7AC Technologies Inc., based in Beverly, Massachusetts, specializes in innovative HVAC solutions using its advanced membrane-isolated plastic plate technology. This technology supports the development of ultra-efficient liquid desiccant systems designed for commercial and industrial buildings. By utilizing this approach, 7AC Technologies aims to significantly reduce energy costs, achieving a reduction of over 50% compared to traditional HVAC systems. Originally founded as 7Solar Technologies, Inc. in 2009, the company rebranded in 2011 and is currently a subsidiary of Emerson Electric Co.

VCharge

Seed Round in 2011
VCharge, Inc. specializes in developing intelligent infrastructure for energy management, focusing on transactive electric loads that optimize energy usage and reduce costs. The company's flagship platform, VNet, coordinates the activities of distributed load assets, while its SmartBricks and SmartHydro controllers manage electric thermal storage heating systems, electric car charging stations, and compressed air systems. VCharge also offers VConsole, a web-based interface that provides crucial information and control for users, utilities, and maintenance staff. The firm primarily operates in Maine, Massachusetts, and Pennsylvania, but it also serves customers in Germany, Ireland, and the United Kingdom. Founded in 2009 and based in Providence, Rhode Island, VCharge aims to address the challenges of renewable energy intermittency by using advanced algorithms to align grid requirements with user needs. The company offers retrofitted control equipment at no cost to building owners in exchange for long-term contracts, generating savings and revenue through energy arbitrage and grid services.

MyEnergy

Series A in 2011
MyEnergy is a personalized platform that assists households across the United States in reducing energy consumption and saving on utility bills. The free service offers users access to energy-saving tips and incentives, enabling them to compare their energy usage with others, set personal goals, and track their progress. Additionally, users can earn rewards for lowering their energy bills. MyEnergy's algorithms analyze utility energy data to provide tailored recommendations, making it an effective tool for promoting energy efficiency. The platform is compatible with numerous utilities nationwide and aims to serve over 90% of the U.S. population.

Next Step Living

Series B in 2010
Next Step Living provides home energy evaluations and solutions for individuals and organizations. It offers energy assessment and diagnostics, air sealing and insulation, and multi-family retrofit services. The company also provides customized solutions, such as HVAC repair and replacement, window replacement and installation, solar or geothermal systems installation, building automation, interior and exterior lighting design, and custom retrofit services. Its sustainability solutions include water efficiency and purification, landscape design and management, and indoor air quality services. The company provides assessment and diagnostic processes to heating and cooling, domestic hot water, and electricity and lighting needs. Next Step Living partners with more than 400 municipalities, civic organizations, contractors, and corporations to deliver energy-efficient and environmental-friendly solutions to its customers. Those solutions include home energy assessments, weatherization work, energy-efficient windows, efficient heating, and cooling solutions, and access to solar solutions. Next Step Living was founded in 2008 by Geoff Chapin and is based in Boston, Massachusetts.

OutSmart Power Systems

Seed Round in 2009
OutSmart Power Systems, LLC specializes in energy management software and services tailored for commercial and industrial (C&I) buildings, particularly grocery stores, convenience stores, and cold storage facilities. Founded in 2008 and based in Natick, Massachusetts, the company offers innovative solutions like EnergyMate, a miniature metering technology that monitors energy and power parameters, and the OutSmart Analytics Platform (OSAP) for data storage and analysis. These tools help identify energy-saving opportunities and enhance the operational efficiency of critical systems such as refrigeration, HVAC, and lighting. OutSmart's approach focuses on providing detailed, metrics-driven insights into energy consumption and equipment performance, allowing clients to achieve significant energy savings with a quick return on investment. Unlike traditional control systems, OutSmart complements existing technologies by delivering granular data that aids in understanding both energy usage and the effectiveness of existing control mechanisms. The company’s competitive edge lies in its specialized sensor technology and advanced analytics capabilities, enabling efficient installation and flexibility for various applications.

PurposeEnergy

Seed Round in 2009
PurposeEnergy, Inc. provides consultative service to Food and beverage manufacturers, that is an in-depth audit that evaluates a customer’s current wastewater strategy and solution and provide organic waste remediation and technology recommendations for their plants. It also offers wastewater system management services. The company was incorporated in 2007 and is based in Woburn, Massachusetts.

Powerhouse Dynamics

Seed Round in 2009
PowerHouse Dynamics, Inc. develops enterprise energy and asset management systems for portfolios of small commercial facilities. It offers SiteSage, an enterprise energy and asset management platform that centralizes control, analysis, and management of energy-consuming equipment. The company’s platform also provides modules for remote equipment and HVAC control, food safety, and utility bill management; and offers rebate management, deployment management, and support and advisory services. It serves restaurants, convenience stores, retail stores, homes, and other commercial facilities. The company was founded in 2008 and is based in Newton, Massachusetts. As of April 1, 2019, PowerHouse Dynamics, Inc. operates as a subsidiary of The Middleby Corporation.
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