Follow-on funding for more than half of Chrysalix EVC’s portfolio companies has been made over the past year, the clean tech investor has reported. The investor, that has backers from the private equity and energy sectors, has made 11 follow-on funding deals since February 2013.
Chrysalix said that those target companies are actively developing new ways to solve the economic, energy, and environmental challenges facing many of the world’s largest industries, namely oil and gas, electric power and utilities, chemicals and materials, and mining and metals.
Wal van Lierop, Co-Founder and CEO at Chrysalix EVC said that the firm is increasingly seeing innovative clean energy technologies maturing and penetrating the core business of large companies where they provide cost effective solutions to address pain points or capture new opportunities.
Some of the companies that received follow-on investments included General Fusion, a company specialised in Magnetized Target Fusion (MTF) energy technology; and GlassPoint, manufacturers of solar steam generators for thermal Enhanced Oil Recovery (EOR) that are claimed to reduce both gas consumption and CO2 emissions by up to 80%.