About: Good Energies is a leading global investor in renewable energy and energy efficiency industries. The firm invests in solar, turbine-based renewables, green building technologies and other emerging areas within clean energy. Guided by the “3-P” principle of People-Planet-Profit, Good Energies looks for meaningful, long-term investments in companies with outstanding growth potential. The firm’s mission is to accelerate the global transition to a low-carbon economy. Founded in 2001, Good Energies manages the renewable energy portfolio of Netherlands-based COFRA Holding, a family owned and managed group of companies. The firm operates globally from offices in London, New York, Toronto, Washington, D.C., and Zug, Switzerland. Current and previous investments include REC, Q-Cells, Solarfun and Sunfilm.
Marcel Brenninkmeijer, Managing Director & Chairman
Managing Director: John Breckenridge, Jean-Louis Brenninkmeijer, George Coelho, Hugh Frater, Sven Hansen, Richard Kauffman, Andrew Lee, William Nesbitt, Michael Ware
Solar – 6N Silicon, Concentrix Solar, Konarka, NorSun, Q-Cells, Resolar, Solarcentury, Solarfun, SolarReserve, Sunfilm, XJet
Turbine-based Renewables – 3TIER, C-Free Power Corp, CWP, Dummuies Wind Farm, Eolectric, EverPower Renewables, Geilectric, Jasper Wind, Relight, Second Wind, Sequoia Energy, Vents du Kempt, Western Bio-Energy
Energy Efficiency & Green Buildings – AlertMe, Ice Energy, Microstaq, SAGE Electrochromics, Tendril
Investments in the Developing World – Emergence BioEnergy
R&D – ActaCell
News: As mentioned earlier in the VantagePoint Venture Partners blog, Good Energies was also involved in the funding rounds for Tendril and AlertMe in June 2009.
According to this Reuters report and another report, the Good Energies fund size is estimated to be €4 billion. It invests about €350 million per year. Earlier in a blog, chairman and founder Marcel Brenninkmeijer was mentioned as the 4th richest in Sunday Times Green Rich List 2009 with ₤19 billion wealth. He also invested early in REC and Q-Cells.
In an earlier blog, I mentioned that Apax Partners and Good Energies co-invested €24m in CSG Solar in January 2005. Although Good Energies is listed as an investor on CSG’s website but CSG is not listed as an investment under Good Energies’ portfolio. According to this report in May 2009, “As part of its cost management program, Q-Cells has stopped investing in thin-film solar start-up CSG Solar AG. The Crystalline Silicon on Glass (CSG) technologist raised €24 million in 2005 to commercialise the technology with funding from Apax Funds and Good Energies as well as Q-Cells. Q-Cells CEO, Anton Milner said the company would ‘exit’ CSG Solar during its quarterly conference call with financial analysts.” No other reports were available to see whether Q-Cells has exited CSG Solar yet. Meanwhile Q-Cells is still listed as an investor on CSG’s website.
In May 2009, Good Energies sponsored the Chair for Management of Renewable Energies at the University of St. Gallen (HSG) (Switzerland) – the first of its kind at a leading European business school. Marcel Brenninkmeijer, Chairman of Good Energies, handed over the official deed of foundation in an opening ceremony to Rector Prof. Ernst Mohr and Prof. Dr. Rolf Wüstenhagen, who has been appointed by the University of St.Gallen to hold the new Chair, which is co-sponsored by COFRA Holding. The Good Energies Chair aspires to become a center of excellence for research and teaching of the business aspects of renewable energy and energy efficiency focusing on innovative business models and dedicated energy entrepreneurship.
In April 2009, Sunfilm AG and Sontor GmbH merged to become one of the world’s largest providers of tandem junction silicon based thin film modules. The new company will be named Sunfilm AG. In an increasingly competitive global photovoltaic market, Sunfilm will have the necessary size and expertise to significantly profit from the growing segment of thin film solar. Q-Cells SE, Good Energies and NorSun AS will be the shareholders of the new Sunfilm and are firmly committed to supporting the company on its future growth path.