Portfolio

EXITS

Portfolio Companies

ONE ENERGY RENEWABLES

Leading mid-market (5-50 megawatts) solar project developer
Focused on early stage development in inefficient US state markets
Pioneering direct sale of long-term off-site solar contracts to business and institutional customers (e.g. Home Depot and The National Aquarium)
Over past two years, has rapidly built over 1,000 megawatt project pipeline

eMOTORWERKS

Electric vehicle (EV) charging infrastructure company
Sells residential and fleet EV charging hardware and software
Cloud-based software network enables intelligent two-way communication between EVs and the power grid
Mitigates the strain that EVs impose on grid infrastructure and allows utilities to exploit the massive opportunity that EVs represent for additional grid usage, load balancing, and better integration of intermittent power sources, such as renewables
Partnerships in place with major utilities, vehicle manufacturers, and other EV charging hardware companies
Sold to Enel S.p.A. October 2017

KEVITA

Premium, organic, probiotic beverage with annual sales above $50M
Proprietary formulation scientifically proven to support digestive and immune health
At nexus of rapidly growing probiotic, coconut water, and fermented beverage segments in the $20B+ functional beverage category
Available in more than 20 flavors at over 15,000 stores across North America
Sold to PepsiCo (PEP) December 2016, for $200M+

ZEP SOLAR

Revolutionary solar mounting technology
Zep systems have 85% fewer parts, are installed 4.5x faster, and reduce the total cost of solar by 10-20%
Licensed to the world’s largest module manufacturers
305% CAGR from 2010-2013
Sold to Solar City (SCTY)

www.ampersand.solar

Electric motorcycle company based in Rwanda, focused on serving motorcycle taxi and other commercial drivers
Motorcycle taxis are a primary means of transport in East Africa, where personal vehicle ownership rates are low
Replacing petrol motorcycles with electric ones offers great potential to reduce carbon emissions and improve urban air quality, while increasing driver take-home pay
Ampersand is the first electric motorcycle company in Africa, and has several years of experience on the ground refining technology and business model
Developed an electric motorbike ecosystem, which includes a high-performance motorcycle, a smart battery pack, and a network of battery swapping stations
Ampersand plans to expand to Kenya, Uganda, and other African countries

www.unagiscooters.com

Offers premium electric scooters for sale or through a subscription model both direct to consumer and through retail outlets
The transportation sector accounts for 28% of total US carbon emissions
Consumers are seeking alternative options to make short and medium distance commutes easier and more enjoyable
Electric scooters are a low-cost, low-carbon alternative to car-based ride-sharing services and an important last-mile complement to public transit
The company fills a gap in the scooter market: premium products built with high-quality components that are lighter, more durable, more stylish, and smarter

www.zeroavia.com

ZeroAvia is the leader in zero-emission, hydrogen-electric aviation solutions
The company’s hydrogen fuel cell powertrain replaces jet fuel-powered engines in existing aircrafts
Hydrogen-electric powertrains offer operators a lower total cost of ownership compared to traditional engines
The company is initially focused on small commuter and cargo aircraft
There is growing pressure on the aviation industry to reduce GHG and other emissions

www.thinkiq.com

ThinkIQ provides end-to-end materials tracking and analytics for industrial manufacturing systems
Advances supply chain sustainability by focusing on materials optimization, rather than equipment optimization
Delivers unprecedented material traceability and insight into potential yield improvements, quality, and safety
Contributes to reducing the approximately 30% of the world’s food that is wasted in the food supply chain
Initially focused on the food manufacturing sector with promising commercial pilots with large CPG customers

www.energicitycorp.com

Develops and operates solar minigrids in West Africa
Serving off-grid communities averaging 100-200 households and associated businesses
Strong demand for electricity in rural areas of West Africa not served by a central power grid
Electrification is central to economic development, enabling reliable operations of mills, freezers, and medical facilities

www.vericoolpackaging.com

Manufactures biodegradable and compostable thermal and protective packaging products
Sustainable alternative to extruded and expanded polystyrene (commonly referred to as Styrofoam) with comparable pricing and performance and a molded, customizable product
Significantly reduces non-recyclable waste associated with thermal and protective packaging
Applications include cold chain consumer product packaging, pharmaceutical packaging requiring temperature control, recyclable and reusable coolers for food and beverage, and packaging material that provides cushioning for products in transport

www.upflex.com

Software platform that provides easy, economical, and instant workplace flexibility for corporate customers
Offers a global network of thousands of desk, meeting room, and workspace options for users
Significant potential to reduce commuting and associated pollution by facilitating workspace flexibility
Improves utilization of co-working spaces, reduces the time and energy expended on commuting, and improves employee satisfaction
Fast-growing networks of spaces and corporate users

www.sunverge.com

Software for managing distributed energy resources
Management system gives utilities better visibility and control of residential energy storage and other distributed energy resources (DERs)
Resolves issues created by rapid renewable energy and EV adoption
Functionality includes peak load reduction/shifting, frequency and voltage regulation, outage response
System enables the orchestration of fleets of DERs into dynamic and intelligent virtual power plants (VPPs)
Customers include large utilities across North America and Asia

www.bluonenergy.com

Developer of novel refrigerants and accompanying support tools to significantly lower the environmental impact of HVAC equipment
Very large market facing significant disruption by mandated transition to new refrigerants, with insufficient support for technicians
Bluon refrigerant delivers up to 25% reduction in equipment energy consumption and quick payback for asset owners
Service and software support tools help technicians navigate a challenging transition and propagate energy efficiency best practices
Growing partnerships with large real estate owners and Fortune 100 companies

www.evconnect.com

Public Electric vehicle (EV) charging infrastructure company
Provides the leading open-source software platform for public charging stations – i.e. commercial, governmental, workplace, and multi-family
Functionality includes access control, demand response participation, and site health, reservations, queueing, and peak load management.
Hardware agnostic, focused on managing tens of thousands of chargers across the US
System enables aggregation of EV charging load and large-scale demand management to balance the power grid, enabling greater EV adoption and renewable energy penetration

www.flyingembers.com

Premium, certified organic, probiotic beer and alcoholic kombucha beverages
Employs an advanced fermentation process and a formulation to create functional alcoholic beverages including gluten-free beer
Pioneering “better-for-you” alcoholic beverages in the $100B+ beer category
Rolling out in retail outlets across the country

www.pegasussolar.com

Rail-free residential solar mounting hardware company
Proprietary mounting hardware enables faster installation, reduced system cost, and improved aesthetics
Works with most roof types and best-in-class solution for tile roofs; tile is the dominant roof type in the US Southwest and is difficult and expensive to service with existing solar mounting solutions
Rapidly growing customer base of large-to-medium-sized installers across the U.S.

www.optirtc.com

Pioneer of intelligent stormwater management: essentially, the “smart grid” for water infrastructure
Provides real-time monitoring and automated control of distributed stormwater assets, improving the performance of assets, reducing flood risk, and saving customers money
Integrates cloud-based software, predictive analytics, real-time data, and stormwater asset control hardware
Intelligent stormwater management is a key element of “smart cities” and climate change adaptation
Customers include both large cities and smaller municipalities across the US, as well as large commercial property owners

www.sanafoods.com

SANA (formerly The Real Coconut) makes premium, certified organic, grain-free and dairy-free packaged food products
Products feature nutrient dense ingredients that come from low-impact crops, including coconut, plantain, and cassava
SANA’s grain-free products meet growing market demand for sustainable, healthful, plant-based foods
Products are available in over 5,000 stores across the U.S. and Canada

www.agtechholdings.com

AgTech Holdings’s public-facing brand, GroAdvisor, is a one-stop shop for cultivators, facility operators, and investors in the controlled environment agriculture space
GroAdvisor is focused on providing B2B commercial services such as facility design and layout, equipment analysis and recommendations, and ROI assessments
In order to ensure customers have a wide variety of options when it comes to choosing equipment and services, GroAdvisor has forged partnerships with nearly 50 industry-recognized manufacturers, suppliers, and consultants and new partnerships are continually being sought
The company primarily targets North American mid-market cannabis operations, but also services customers that cultivate fruits and vegetables. The client base also extends internationally to Puerto Rico, South Africa, and across Europe

www.drinkmito.com

MITO™ is a science-based response to our mitochondrial needs, designed to strengthen the body’s immune shield at the cellular level
The ready to drink beverage includes key mitochondrial nutrients Vitamin C, Zinc, CoQ10 and astaxanthin
A scientifically studied blend of nutraceuticals, high-dose vitamins, and plant-based adaptogens
A team of doctors and scientists formulated MITO behind leading research that establishes functional dosages of key ingredients

www.cleanfund.com

Provider of low cost financing for commercial properties doing energy efficiency and renewable energy upgrades using PACE (“Property Assessed Clean Energy”) bonds
PACE is tax-lien financing that enables underlying property to be used as collateral, rather than financed equipment or property owner credit. This enables access to low cost commercial debt and lends itself to securitization
Market expanding rapidly, as property owners look for better ways to finance efficiency and other deferred maintenance
Clean Fund is the leader in the commercial real estate segment of the PACE market

www.completesolar.com

Residential solar sales and installation firm focused on using software to improve sales process and eliminate operational inefficiencies
Process automation including system design, permitting, and installation management has produced industry-leading time from contract to installation. Results in lower operating costs and a better customer experience
Top-20 US residential solar company

www.trexgroup.com

Pioneer of analytics software to facilitate due diligence and securitization of renewable energy assets
Company combines expertise in renewable energy, structured finance, and software development
Enables significant improvement in ability to analyze asset portfolios in a fraction of the time such analysis normally requires, reducing both risk and cost
Valuable to project developers, banks, rating agencies, and institutional investors
Expanding base of initial software licensees

www.synchronetintermodal.com

Shipping logistics technology and services company that is revolutionizing the global shipping supply chain
Repositioning empty shipping containers accounts for 20% of all container traffic – $10B-$15B per year in wasted expense
SynchroNet’s proprietary container matching platform increases efficiency and profitability, and significantly reduces carbon emissions

www.synovapower.com

Innovative waste-to-energy project developer that converts garbage and biomass into clean syngas for use in power generation
Proprietary gas cleaning technology and proven system components enable better environmental performance and dramatically reduced capital costs
Potential to dominate the global market for small/medium-size waste-to-energy projects
Currently developing global pipeline of projects with initial concentration of projects in Southeast Asia

www.arborgen.com

World’s first and largest producer of advanced varietal (selectively bred / non-GMO) pines
Trees grow 40% faster than conventional pines and have other beneficial traits
These attributes help landowners achieve higher returns, resist pressure for land conversion, and accelerate carbon sequestration
Climate change will place great stress on tree species that cannot adapt or shift their habitat quickly enough. CellFor is an important tool in climate change adaptation
Sold to ArborGen