Prior Fund Strategies & Investments   

 

Investment Strategy:  Cleantech Venture Capital

 

Adventus - Develops, manufactures, markets and sells a family of proprietary soil and water bioremediation technologies under the DARMEND and AQUAMEND trademarks in the U.S. and various international markets.  Adventus has received outstanding achievement awards over several years.  Simply outstanding management team.

 

Quantum Leap

Investment              

All rounds, since inception

  Board

On the board, since inception

  Other

Chair, Audit Committee, since inception

  Status / exit

Successful sale to FMC Corporation (NYSE: FMC) Nov 2011

 

Available Energy Corporation -  Private energy technology company undertaking development and commercialization efforts targeting business platforms in an effort to overcome the “energy supply challenge”.

 

Quantum Leap  Investment      

Founding rounds

Board

na

Other

Serially backed the Stuart family very successfully over years.  From Electrolizer Corporation to Stuart Energy (which went public) to their most recent spin-off, a new subsidiary - Isowater Corporation.

Status / exit

Still held & supporting

 

Clean Energy Developments -  Assists commercial developers, builders, owners, consultants and contractors with the integration of energy efficient components, with particular focus on STREAM geoexchange systems.

 

Quantum Leap  Investment   

Founding creator of the company and co-backed numerous rounds 

Board

Since inception & in various capacities

Other

Co-founded company in cooperation with Canadian Electricty Association (CEA) in response to glaring under-serviced market.

Status / exit

Very successfully sold to Alter NRG (TSX: NRG) November 2009

 

EcoWaste - Manufactures clean burning waste oxidizers, converting solid and liquid non-recyclable residential, industrial, commercial and hospital waste streams into re-usable material and energy.

 

Quantum Leap

Investment      

Founding investor followed through till liquidation

Board

Since inception to liquidation

Other

Share structure & performance challenges

Status / exit

Sold to a management in a distressed capacity.

 

Encelium -  Global provider of lighting control systems used to reduce lighting related energy costs by 65% - 80%.  In the process these systems improve lighting quality, occupant productivity and workplace ergonomics.

 

Quantum Leap

Investment         

Founding investor followed through till sale

Board

Since inception to sale

Other

Management broke their backs to build this company! 

Status / exit

Now, a Sylvania Osram company - October 2011

 

Enerworks -   Focused on providing solar energy solutions, including solar thermal water-heaters that supplement natural gas and electric water heating services for residential and commercial markets.

 

Quantum Leap

Investment             

Founding investor followed through till sale

Board

Since inception to sale

Other

Wow, this company has had a lot of technical, solar thermal, installations & project successes. From Drakes Landing, with numerous awards (1st, largest, etc. see Enerworks awards) to Sick Kids Hospital, just to name a few.    

Status / exit

Sale to Proterra Solar - June, 2011 

 

Fuel Cell Technologies -  Created to be leading developer of small scale power systems (1KW to 50 KW) providing on-site generation of electricity for homes, commercial enterprises, industrial applications and remote sites using solid oxide fuel cell technology.

 

Quantum Leap

Investment      

Founding investor followed through till sale

Board

Since inception to sale

Other

Tough investment, technology ahead of the curve.  

Status / exit

Sale to Acumentrics June, 2007.  

 

Oxegen - Internet based compliance solutions company specializing in the design, development and delivery of Environment Management and Occupational Health & Safety Compliance systems.

 

Quantum Leap

Investment            

Founding investor followed through until sale

Board

Since inception to sale

Other

Considerable early stage success, but discipline issues that ulitmately led to unacceptable risk issues within the investment.  

Status / exit

Sale to private investor - details not available.   

 

Rtica -  Established to manufacture insulation products by converting recycled or virgin polymers into user –friendly fibrous insulation at prices that are competitive with the dominant products currently circulating in the insulation market. 

 

Quantum Leap

Investment            

Founding investor followed through until sale

Board

Since inception to sale

Other

Considerable early stage success, but discipline issues that ulitmately led to unacceptable risk issues within the investment.  

Status / exit

Sale to private investor - details not available.   

 

RuggedCom - Now established as a 1st teir leader in the design and manufacture of industrially hardened communications and networking equipment - the backbone to the Smart Grid.  RuggedCom has had numerous first and outstanding achievements & awards, delivered through the unwavering conviction of one of Canada`s best CEOs (Marzio Pozzuoli) and a dedicated and driven leadership team.  

 

Quantum Leap

Investment            

Very 1st investor in a discount / clean-up bridge round, following into another round with OPG Ventures (subsequently SAM Ventures then Emerald Ventures) and EPCOR participation / leadership. 

Board

Since inception to IPO, including the Chairmanship of the Audit Committee.

Other

Although some challenges early stage, once the venture gained its momentum, understatement and over-delivery become the norm. Very efficient capital structure, solid understanding of the SMART Grid market(s) and global, high growth challenges and opportunities.     

Great experience and a successful investment of this magnitude has many genuinely proud parents.

Status / exit

Liquidation of shares in the public markets and ultilmate takeout by Siemens.   

 

Trilliant Inc. - Develops, produces and markets intellectual property for the automated collection and distribution of data from utility metering devices and electrical substations.  Although signed in 2006, in February 2009 Trilliant reached a historic milestone by installing more than 1 million intelligent metering devices.  Trilliant has had numerous first and outstanding achievement & awards and continues today to define many aspects of the automated meter reading markplace. 

 

Quantum Leap

Investment            

Was the sole and only investor from inception through 5 rounds until Ozz Corporation joined in followed by Mission Point Capital, ZOUK, GE Capital and now numerous others.

Board

Since inception until round 8

Other

Assisted in 2 acquisitions (NERTEC & E2MS with NERTEC being a critical backbone series of patents).  

Status / exit

Still held - under administration by Covington Venture Fund.   

 

Ventus Energy - wind assessment and development company that capitalized on the need for viable wind projects with bankable data and proven resources.  In 2007 it was acquired by SUEZ Energy International.

 

Quantum Leap

Investment            

Co-lead in the very 1st round and followed through right till the acquisition by SUEZ Energy International.  A critical funder along the path included Good Energies, where their NA Wind team was led by Jean-Louis Brenninkmeyer.

Board

Since inception until SUEZ takeout.

Other

Invested in the management team as a means of capturing optionality on Wind/Land assets 2-3 years before massive market growth.  Not only started as an equity investor but rolled over into funding the company`s Mez Debt requirements through a sister fund. 

Status / exit

Sale to SUEZ Energy International September, 2007.     

 

Investment Strategy:  Renewable Power Project Finance (MezDebt)

 

Cape Breton Power - As a first mover, Cape Breton Power evolved into a leading developer of renewable energy production in Atlantic Canada.  Cape Breton Power Ltd., now under Sprott Power, has several wind energy projects operating (Glace Bay and Lingan) and under development.

 

Quantum Leap

Investment            

Funded the original developers to expand their met towers installed and purchase their first turbines. Invested at the parent company (development equity) as well as at the project level (MezDebt) through numerous successive rounds.  This asset now has installed capacity of 17.5mw, and is now wholly owned by Sprott Power.  

Board

Since inception (now wholly owned by Sprott Power)

Other

Literally backed a Local Emergency Service worker and a local Accountant/Chef (yes, Accountant/Chef - good at both!) and their respective wives in a vision.  This install also include the very 1st Enercon E70 turbines in North America.  Additionally, hoisting Wind Towers where none had even been hoisted was challenging.  Excellent investment, all round - great example of spirits of entrepreneurs!

Status / exit

Subsequent to the change in Canada`s SIFT Legislation, was rolled into Confederation Power and ultimately sold to form Sprott Power     

 

Confederation Power -  This company was created to hold the amalgamated holdings of Renewable Power L.P. I, II, II & IV, post the changing of Canada`s SIFT Legislation.

 

Quantum Leap

Investment            

NA - simply amalgamation and operating company.

Board

NA

Other

NA

Status / exit

Ultimately sold to form Sprott Power     

 

Glace Bay Lingan Wind Power -  Is developing two wind farms on the north shore of Cape Breton, Nova Scotia in partnership with Cape Breton Power (see above).

 

Quantum Leap

Investment   

See Cape Breton

Board

See Cape Breton

Other

See Cape Breton

Status / exit

See Cape Breton                                                                     

 

Observatory Inlet Development -  Is the co-owner and developer of now several hydroelectric facilities under development in Northern British Columbia, representing materially in excess of 50MW in hydro electric power (the two primary assets being Anyox and Kitsault)

 

Quantum Leap

Investment          

Invested at the parent company level (development equity) as well as at the project level (MezDebt) through numerous successive rounds. 

Board

Since inception until merger with Confederation Power.

Other

Was a powereful combination of strong management, assets with great bones and a regulatory environment designed to stifle the entrpreneurial spirit.

Status / exit

Sold back to management.                                                          

 

Schneider PowerWas set up to be a leading Canadian based global renewable and wind energy developer.  They evaluated, designed, built, owned and operated some of North America’s most advanced projects in addition to maintaining operational wind farms and portfolio totaling approximately 1,400 MW.

 

Quantum Leap

Investment          

Invested at the parent company level (development equity) as well as at the project level (MezDebt) through numerous successive rounds. 

Board

na

Other

Was a powereful combination of strong management, great and growing assets.

Status / exit

Schneider Power went public on the Toronto Venture Exchange (TSXV:SNE) in September of 2008 and was eventually sold to Irvine, California based Quantum Fuel System Technologies Worldwide Inc. (NASDAQ:QTWW), April 16th, 2010.                                                         

 

SkyPower - Was set to become one the largest renewable energy producers in Canada with interests in over 400 projects representing 11,000 MW of potential nameplate capacity.  SkyPower signed various agreements over 2-3 years (20 year Power Purchase agreement with the Ontario Power Authority to build a $160mln wind power project, for example).

 

Quantum Leap

Investment          

Invested at the parent company level (development equity) as well as at the project level (MezDebt) through numerous and successive more creative rounds. 

Board

na

Other

A roller-coaster investment.

Other

Between Skypower and Ventus, the two had assembled two of the first and largest wind landbanks in Canada, part of the original / founding investment mandate.

Status / exit

Very profitably sold 50% interest to Lehmans with a stump equity still held.  Although had invested on the basis of a MezDebt return, generated handsomely above this.                                                        

 

Springhill Wind Energy - Has now developed wind energy facilities in  Springhill and Higgins Mountain regions of Nova Scotia. Including Londonderry, the total installed capacity = 80mw.

 

Quantum Leap

Investment          

Invested at the parent company level (development equity) as well as at the project level (MezDebt) through numerous and successive more creative rounds. 

Board

na

Other

na

Status / exit

Solid basic investment. Ultimately sold to form part of Sprott Power.                                                        

 

Spuzzum Creek Power - Has the sole mandate to construct, own and operate an 18 MW Spuzzum Creek hydroelectric plant in the Fraser Valley of British Columbia, which includes a 20 year power purchase agreement with BC hydro.

 

Quantum Leap

Investment          

Invested at the parent company level (development equity) as well as at the project level (MezDebt) through numerous successive rounds. 

Board

Since inception.

Other

A powereful combination of strong management, assets with great bones and a regulatory environment designed to stifle the entrpreneurial spirit but the will (and proximity) to get the project built.

Status / exit

Solid basic investment. Ultimately sold to form part of Sprott Power.                                                         

 

Vector Wind Energy -   National development portfolio with the potential capacity to support over 250 MW of wind energy.  Vector was selected by the DuPont Corporation to receive the Global Sustainable Growth Award in 2004. 

 

Quantum Leap

Investment          

Invested at the parent company level (development equity), only. 

Board

Since inception until sale to Canadian Hydro Developers.

Othe

Management looking for a strategic partner, which they found.

Status / exit

Solid basic investment. Sold to Canadian Hydro Developers which was ultimately purchased by Transalta.                                                         

 

Ventus Wind Energy -  Wind assessment and development company that capitalized on the need for viable wind projects with bankable data and proven resources.  In 2007 it was acquired by SUEZ Energy International. 

 

Quantum Leap

Investment            

Co-lead in the very 1st round and followed through right till the acquisition by SUEZ Energy International.  A critical funder along the path included Good Energies, where their NA Wind team was led by Jean-Louis Brenninkmeyer.

Board

Since inception until SUEZ takeout.

Other

Invested in the management team as a means of capturing optionality on Wind/Land assets 2-3 years before massive market growth.  Not only started as an equity investor but rolled over into funding the company`s Mez Debt requirements through a sister fund. 

Other

Between Ventus and Skypower, the two had assembled two of the first and largest wind landbanks in Canada, part of the original / founding investment mandate.

Status / exit

Sale to SUEZ Energy International September, 2007.     

 

Windswept Power - Focused on developing wind energy facilities in Saskatchewan, and is one of only two companies chosen by SaskPower in 2004 to provide green energy under the Environmentally Preferred Power Program. First project, stll under development is Riverhurst I.

 

Quantum Leap

Investment          

Invested at the parent company level (development equity) as well as at the project level (MezDebt) through numerous rounds. 

Board

Since inception - now part of Sprott Power.

Other

Was and is THE trailblazer in Saskatchewan, in numerous ways.

Status / exit

Solid basic investment. Ultimately sold to form part of Sprott Power.