Chrysalix Funded Early-Stage Innovators GlassPoint, ENBALA Power Networks and Agilyx Recognized among World’s Cleantech Trailblazers
VANCOUVER, BC – Chrysalix Venture Capital, one of the longest-standing and most active cleantech venture capital firms, is pleased to congratulate three portfolio companies in its CELP III fund that have been named to the 2013 Global Cleantech 100. GlassPoint, a leading provider of solar steam generation to the oil and gas industry; ENBALA Power Networks, developers of a Smart Grid technology platform providing an efficient and flexible power system; and Agilyx, an alternative energy start-up that converts difficult-to-recycle waste plastics into crude oil were each recognized as world leaders in cleantech expected to make the greatest market impact in the next decade.
“On behalf of the entire team at Chrysalix, it is my honor to congratulate these three outstanding companies, GlassPoint, ENBALA and Agilyx on their achievement,” said Wal van Lierop, President and CEO, Chrysalix. “To have three of our portfolio companies included among the world’s top cleantech performers is a testament to our firm’s vision to find and engage with the most groundbreaking sustainable innovations for large industries in transition. We are committed to continuing our work with these game-changers in delivering their technologies to the major energy producing companies that demand them.”
As an investor in early-stage companies that address the economic, energy and environmental challenges facing the energy industry, Chrysalix has been an active supporter of these three tech pioneers, providing ongoing strategic guidance and funding. Each company has excelled in delivering innovative technologies that help solve pain points in major industries and the society at large.
GlassPoint’s technology is used today for Enhanced Oil Recovery (EOR), and functions with the use of solar energy generated by the company’s thermal and cost-efficient Enclosed Trough solar field, protected within a commercial glasshouse structure. This reduces the fuel required for EOR by up to 80% and minimizes water treatment costs. The company recently completed the first solar EOR project in the Middle East with Petroleum Development Oman.
ENBALA’s Smart Grid technology platform enables electricity grid operators to integrate the operation of renewable power generation sources, such as wind and solar, into the grid, thus increasing grid efficiency and reliability while at the same time reducing costs and greenhouse gas emissions.
Agilyx has patented a scalable process for converting waste plastics into synthetic crude oil. This breakthrough technology not only diverts waste, potentially reducing landfill volume by 20%, but also contributes to sustainable energy production.
The Global Cleantech 100 is a prestigious list of the top private companies in clean technology created by the Cleantech Group, an international organization that provides market intelligence and opportunities including events and advisory services to the cleantech industry. Out of more than 9,000 nominees, the winners are selected through data gathered by the Cleantech Group, as well as insight from an expert panel of accomplished cleantech thought-leaders.
Chrysalix is one of the longest serving cleantech venture capital firms investing in breakthrough sustainable innovations for industries in transition. The Firm provides early-stage financing, hands-on assistance and strategic connections to innovation companies confronting the world’s most important energy and environmental issues. Chrysalix is consistently ranked among the most active clean energy technology venture capital firms in the world and is a member of the Chrysalix Global Network (CGN), a premier alliance of independent clean energy VC firms with offices in North America (Chrysalix), Europe (Chrysalix SET), and Asia (GRC Chrysalix). Founded in Vancouver, Canada in 2001, Chrysalix has one of the strongest investment teams in cleantech with more than 140 years’ experience in the energy and VC industries, and is backed by more than 20 international blue-chip industrial and financial investors. For more information, please visit chrysalixevc.com.
Hanah Van Borek
Magnolia Marketing Communications