Blackstone Cleantech Venture Partners

About: Blackstone Cleantech Venture Partners (BCVP) focuses on investing in established and emerging private companies that have a “green” technology component, at a stage where technology risk is expected to be limited and capital needs are increasing. Based in New York.

www.blackstone.com/private_equity/cleantech.html

Key Personnel:
James D. Kiggen, Senior Managing Director
Walter C. Vester, Principal
Richard L. Troyer, Principal

Portfolio:
Coskata

News: Not much information about the portfolio or the firm on its website and no details were given on the size of the group’s investment capital. In Aug 2008, the Blackstone Group announced the establishment of a new business group that will be focused on investments in the cleantech energy sector and will also provide advice on renewable energy strategies across Blackstone’s diverse asset base. The team is being led by James D. Kiggen, who has joined the firm’s Corporate Private Equity group as a Senior Managing Director. Prior to joining Blackstone, Mr. Kiggen was a Senior Vice President at AllianceBernstein L.P where he created and managed a research team focused on emerging sciences and technologies. He extended that research effort into building a latestage venture capital/growth equity business, investing in innovative cleantech companies such as A123Systems, Powerspan and Targeted Growth.

One of the first investments made by BCVP was when it led Coskata’s Series C equity funding in Dec 2008 as mentioned in an earlier blog. In addition, new investors include Sumitomo and Arancia, and several of Coskata’s earlier Series A and Series B investors, including Khosla Ventures, Advanced Technology Ventures, Globespan Capital Partners, and TriplePoint Capital. The valuation and terms of the financing round were not disclosed.

According to Earth2Tech, the Blackstone Group has made a few moves into the renewable energy market. In July 2008, the company partnered with a German firm, Windland Energieerzeugungs GmbH, to complete the development and construction of Meerwind, one of the North Sea’s largest wind farm projects. The 400 MW project with 80 wind turbines located 80km off the northern coast of Germany will cost in excess of €1 billion to build.

That partnership followed on the heels of a $870 million investment in December 2007 in the Bujagali hydroelectric project in Uganda by Blackstone portfolio company Sithe Global Power. Sithe builds and operates large power generation systems in developing countries, a severely undeserved, but potentially huge, market for renewable energy.

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5 comments

  1. Heidi Meyer · December 27, 2009

    If you want to know the history and how the Blackstone Group was founded, google: Blackstone Group wikipedia. There is nothing wrong with investment firms, but we have to be aware of what their political motives are as well as watchdogging their investments and monies flow. Is it lucrative for them, thus destroying our environment and economy, or is it legitimate with the citizen’s best interest for the future? Are they coming through the backdoor with more investment stock market exchange scams?

  2. kees van der Meer · February 9, 2010

    Heeft u aandelen gekocht van Gulf Oil Exploration in Houston TX
    Wij horen niet meer van GOE ????

  3. Brian · February 24, 2010

    Hi Mr Van der Meer,

    Unfortunately I only speak English but am extremely interested in what you are saying about GOE, can you email me on mcewanbd@gmail.com to discuss this if you speak English?

    Many thanks
    Brian.

    • Patrick Grant · February 27, 2010

      Hello Brian,
      Did you receive any reply from Mr Van der Meer or do you have ANY current information re:Gulf Oil/Blackstone VC? My email is contactsolanaire@yahoo.co.uk and I look forward to hearing from you.
      Patrick

  4. Sascha K · May 18, 2010

    Thanks for your comment on out blog, Stanislav. Regrettably we cannot publish marketing/distribution content. We trust you understand. In case you want to discuss this opportunity seperately, please email me at Sascha.Klamp@citeinvestments.com

    best regards,
    Sascha

Comments are closed.