Sustainable Energy for Development: People, organizations, and projects active in environmentally benign energy sources for developing countries.
Tuesday, December 26, 2006
Small car 'Reva' gets big funds:
"Venture funds are now seeing value beyong hot wireless and internet companies in India. India’s first and only electric car manufacturer, REVA Electric Car Company
, has attracted a $ 20 m investment from Draper Fisher Jurveston, Global Environment Fund (GEF) and Mellon HBV Master Global Event Drive Fund LP, according to officials. The company, which is joint venture between the Bangalore-based Maini group and the California-based AEV LLC, is looking at expanding overseas and consolidating its position in global markets with this funding. .. This is GEF’s first investment in India. ..
Reva has sold around 1000 cars in the domestic market and 600 in overseas markets. Apart from the United Kingdom, the company is targetting exports to USA, Norway, Switzerland, Cyprus, Japan, Srilanka and Malta. Its manufacturing plant, located in Banglaore, has an installed capacity of about 6,000 units. .. The entry model is priced around Rs 3 lakh [$6800]. Last year, the company collaborated with designer Dilip Chhabria and Encore, maker of the smallest tablet PC, to launch Reva-NXG. The model gives an extended 200 km per charge compared to the 80 km that is available on the entry model." 7:41:04 AM
WaterHealth International Closes Series C Funding:
, Inc. (WHI)
today announced the final close of its Series C funding for a total
equity investment of more than $11 million. SAIL Venture Partners,
L.P., anchored the latest investment of $4 million. Series A investor
Plebys International LLC, founded and led by WHI CEO Tralance Addy,
also invested in this round. The new investments are in addition to
the $7.25 million equity investment anchored by Dow Venture Capital
that WHI announced last month.
WHI has more than 450 installations of its water purification and
disinfection systems in developing countries around the world. This
additional funding further strengthens WHI and will allow for
accelerated growth in the company's target markets, primarily India and
South Asia, West Africa, the Philippines and Mexico." This is the product developed by Ashok Gadgil, which I've been following for a few years. Glad to see it get substantial backing. 12:25:16 AM