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News and Information Article
Inaugural Competition Features Nations Largest Prize Devoted to
Environmentally Conscious Technology Development
SAN FRANCISCO, April 20 /-FirstCall/ -- Organizers of the
California Clean Tech Open today announced that Foundation Capital, one of
the leading venture capital firms in clean tech and other growth areas for
information technology, has joined as a sponsor of the inaugural
competition. Foundation has already made several investments in the clean
technology segment, with companies like Novazone, EnerNOC and Silver Spring
Networks. The competition began accepting business proposals this week, and
contestants may continue to submit until the end of May.
"The California Clean Tech Open creates an opportunity for the firm to
magnify these efforts, and continue to accelerate innovation in this new
category that represents both a significant financial opportunity as well
as a more sustainable future. Were honored to sponsor this inaugural
competition," said Warren Weiss, general partner, at Foundation Capital.
Initiated by the Massachusetts Institute of Technology Club of Northern
California (MITCNC), and quickly joined by Stanford University and
University of California at Berkeley, as well as charter partners Wilson
Sonsini Goodrich & Rosati, Horn Murdock Cole, A&R Partners, and Plug & Play
Real Estate, the California Clean Tech Open will help turn ideas into real
businesses, creating new jobs as part of the expanding clean tech economy
in California. The competition encourages professionals and students
throughout the state to submit proposals and compete for prizes in five
categories: California Investor Owned Utilities Energy Efficiency Prize,
AMD Smart Power Prize, Lexus Transportation Prize, Agora Foundation Water
Management Prize, and the Renewable Energy Prize, which has yet to be
named. Judges selected from an elite panel of experts -- including venture
capitalists, researchers and faculty from the states leading universities
and research laboratories and leading industrialists from related sectors
-- will select a winner in each category and an overall winner.
"Our objective is quite simply to act as an innovation catalyst in
helping the 21st century become the Clean Tech age, with California the
leader making it happen," said Laurent Pacalin and Mike Santullo,
market-based environmentalist and co-chairmen of the competition. "We are
very fortunate to have visionary leaders in the venture capital community;
key contributors in creating the new wave of innovation in California for a
more sustainable future."
Californias economic sustainability is threatened by the increasing
global competition for natural resources. Thus, making more efficient use
of todays energy and water resources, and harnessing new resources that
are more plentiful, less expensive to produce, and less harmful to society
is absolutely critical. The California Clean Tech Open addresses these
challenges by moving innovative technical solutions from concept to
reality.
About The California Clean Tech Open
The mission of the California Clean Tech Open is to encourage the
development of clean technology companies that foster a healthy natural
environment -- companies that provide environmental benefits in the areas
of renewable energy, energy efficiency, pollution reduction and resource
protection, and conservation. The competition will also serve as a platform
to educate the public, as well as the participants, about the environmental
challenges we face and new technologies that can provide solutions to those
challenges.
The inaugural competition opens in April 2006, and winners will be
announced in September at a finals event in the Bay Area. The best plan
submitted from five categories -- Energy Efficiency, Renewable Energy,
Smart Power, Transportation, and Water Management -- will be awarded a
bundle of prizes to create a sustainable business. Prize sponsors to date
include: Energy Efficiency -- Pacific Gas and Electric Company, Southern
California Edison, Southern California Gas Company, and San Diego Gas and
Electric; Smart Power -- AMD; Transportation -- Lexus; Water Management --
Agora Foundation, led by President Wynnette LaBrosse. The competition was
initiated by the Massachusetts Institute of Technology Club of Northern
California (MITCNC) with charter partners Wilson Sonsini Goodrich & Rosati,
Horn Murdock Cole, A&R Partners, and Plug & Play Real Estate.
A group of entrepreneurs and technologists from Silicon Valley -- Derry
and Charlene Kabcenell, Mark Farley, Frank H. Levinson, Geoff Ralston, and
Michael and Amy Santullon -- have generously provided the charter funding
to launch the competition. The 2006 Host City is the City of San Francisco.
Venture capital partners are Advanced Technology Ventures, Chevron
Ventures, Draper Fisher Jurvetson, Foundation Capital, JPMorgans Bay Area
Equity Fund, Khosla Ventures, New Enterprise Associates, Nth Power and
Venrock Associates. Innovation partners include Electric Power Research
Institute, Lawrence Berkeley National Laboratory, Lawrence Livermore
National Laboratory, Palo Alto Research Center, SRI International, and
Technology Ventures Corporation. Competition partners include Clean Edge
and Clean Tech Venture Network. University partners include: the Lester
Center for Entrepreneurship & Innovation at the University of California,
Berkeley; Berkeley Institute for the Environment; UC Davis Connect; the San
Diego State University Center for Energy Studies; Business Association of
Stanford Engineering Students; Ward W. and Priscilla B. Woods Institute for
the Environment at Stanford University; Stanford Graduate School of
Business Environmental Management Club; and Stanford Graduate School of
Business Energy Club. Competition supporters include California Clean
Energy Fund, Environmental Entrepreneurs, CalPERS, and Natural Resources
Defense Council. The competition co-chairs are Laurent Pacalin and Michael
Santullo.
Acterra: Action for a Sustainable Earth, a California 501(c)3
non-profit public benefit corporation (Tax ID 23-7064937) is the
administrative and fiscal sponsor of the 2006 California Clean Tech Open
legally responsible for the activities of the competition. Acterra is
located at 3921 East Bayshore Road, Palo Alto, CA 94303-4303. Additional
details about the program are available at http://www.CaCleanTech.com.
About Foundation Capital
Founded in 1995, Foundation Capital is a venture capital firm committed
to supporting entrepreneurs and their companies, targeting innovative
opportunities in telecommunications and networking; Internet
infrastructure; and enterprise software and on demand services. Foundation
Capital funds total more than $1.6 billion. For more information, visit
http://www.foundationcapital.com or contact Tim Turpin 415-392-8282,
tim@outcastpr.com.
Clean Tech Open
Media Contact:
Jonathan Bass
A&R Partners
650-762-2822
jbass@arpartners.com
Foundation Capital
Media Contact:
Tim Turpin
OutCast Communications
415-392-8282
tim@outcastpr.com
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