January 29, 2009

In Colorado, Green VC bucks the Economy. [Pharmaca, Solar, Ethanol]

Want money? Word on the street is VC, Venture Capitol, has all but dried up. Well, not in Colorado—esp if your would-be company is ‘green.’ Excerpt:

Puls said the increase “was driven largely by significant deals closed by two companies,” Fort Collins-based AVA Solar Inc. and Broomfield-based Range Fuels Inc.

AVA Solar, which manufactures thin-film photovoltaic modules, took in two infusions of venture capital totaling $145 million in 2008.

Range Fuels, which develops cellulosic ethanol-production technology, received $158 million in two deals.

Puls said the clean-technology industry “is receiving a lot of attention due to local and national campaign initiatives as well as the country’s increased focus on finding cleaner, more efficient ways to use energy.”

About 44 percent of Colorado’s VC dollars in 2008 went to clean-tech companies, Puls said.

Companies making medical devices and equipment garnered the second-largest VC chunk, 15 percent.

Other large VC deals in 2008 besides AVA Solar and Range Fuels:

• SomaLogic Inc. of Boulder, which develops proteomics systems and applications, received $35 million.

• Ice Energy Inc. of Windsor, which develops energy storage, advanced cooling and refrigeration products, received $33.2 million.

• Lanx Inc. of Broomfield, which specializes in systems and implants for spinal surgery, received $25 million.

• Pharmaca Integrative Pharmacy Inc. of Boulder, which sells prescriptions and natural remedies, received $22.1 million in two deals.

• Sierra Neuropharmaceuticals Inc. of Aurora, which makes pharmaceuticals for direct-to-the-brain treatment of neurological diseases, received $20.6 million in two deals.

• Accera Inc. of Broomfield, which develops therapeutic treatments for neurodegenerative diseases, received $20.3 million.

Here’s the rest of the article.

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