Recent additions to its portfolio include Alphabet Energy, a startup commercializing a low-cost waste heat recovery technology developed at the Lawrence Berkeley National Laboratory, and REEL Solar, which has developed a low-cost cadmium telluride (CdTE) electro-deposition process for manufacturing solar cells.
The CalCEF Clean Energy Angel Fund has held the final close of its premier fund with just under $11m in committed capital from institutional and individual investors.
Backers include the PCG Clean Energy & Technology Fund.
Founded in 2008 by the California Clean Energy Fund (CalCEF), the vehicle invests in early-stage clean energy companies operating in the solar, energy efficiency, transportation and lighting sectors.
In addition to providing capital of up to $500,000 per round, the fund provides ongoing strategic guidance, including market and regulatory intelligence, to its diverse investment portfolio, currently comprised of four companies.