Chrysalix Energy and Robeco Join Forces in Clean Energy

VANCOUVER, British Columbia--(BUSINESS WIRE)--Chrysalix Energy Venture Capital, a leading global investment firm focused on clean energy technologies, today announced that it is joining forces with Robeco, a leading European asset manager, to invest in Europe’s fast-growing cluster of clean energy and climate mitigation technologies.

The new joint venture, Sustainable Energy Technology Venture Partners, powered by Chrysalix and Robeco B.V. (SET VP), manages the €50 million in startup capital of the SET Fund and will focus on European companies developing technologies that accelerate the deployment of clean energy and reduce climate risk. The SET VP portfolio will include supply-side solutions like biofuels, wind and solar power, and hydrogen production; mitigation technologies like greenhouse gas capture and other pollution reduction techniques; demand-side energy efficiency technologies; and enabling technologies, such as smart grid and energy distribution networks.

“As the clean energy and climate mitigation industries continue to globalize, experience and domain knowledge will rule the day for investors looking to support these emerging technologies,” said Wal van Lierop, Chrysalix president and CEO. “By creating SET VP, which will tap into Robeco’s extensive European network and deal flow, Chrysalix has gained a trusted partner and access to information in a critical market sector. Our portfolio companies and our existing partners in North America will be the ultimate beneficiaries of this new relationship.”

Launched by limited partners DELTA NV and Essent NV, the SET Fund is expected to grow to more than €100 million next year. SET VP will have an independent management team, headed by CEO Rene Savelsberg, who formerly led the corporate venture arm of European consumer electronics giant Philips. Chrysalix and Robeco will assist the SET VP team on an ongoing basis with deal advice and investment decisions.

“Rene Savelsberg together with Wouter Jonk form a seasoned and professional investment team with a track record of success,” said Andrew Musters, Partner of Robeco Private Equity. “We’re excited to have them lead SET VP. We’re equally pleased to be able to join forces with Chrysalix, one of North America’s most respected clean energy venture firms. They are a trusted name in the category, and there is a great deal of mutual respect within this partnership.”

About Chrysalix:

Chrysalix Energy Venture Capital is a leading Canadian VC in the cleantech space. In the past few years Chrysalix has consistently ranked among the top-5 most active clean energy venture capital funds in the world. To date Chrysalix has a portfolio of 18 clean energy companies. Chrysalix has syndicated with many of the tier-1 Silicon Valley based VCs and is backed by a strong group of industrial and financial Limited Partners including Citigroup, Shell, Ontario Teacher’s Private Capital, BASF, WestLB Mellon, Kuwait Petroleum, Robeco, Consensus Group, Mitsubishi, Delta Lloyd and others. The Chrysalix team has been recognized for its pioneering role in the industry. The Chrysalix brand name, knowledge and network have many seeking the firm out as a trustworthy partner. Chrysalix has very strong deal flow: it reviews > 500 clean energy deals annually, seeing virtually every deal in the space. Combined, the team has >70 years of experience in investing in energy and venturing, and one of the most attractive track records in this still young, but very exciting clean energy industry.

About Robeco:

Robeco, established in Rotterdam in 1929, offers investment products and services to institutional and private investors worldwide. It has €142 billion in assets under management (at 31 December 2006).

The product range encompasses equity and fixed-income investments, money-market and real-estate funds and alternative investments, such as private equity, hedge funds and structured products. The various strategies are managed from Rotterdam (head office), Paris, Boston and New York.

To service institutional and third-party distribution clients, Robeco has offices in Bahrain, Belgium, Germany, France, Hong Kong, Japan, Luxembourg, Poland, Spain, the United States and Switzerland. Robeco has a bank license in Belgium, France and the Netherlands, where it can sell its products straight to private clients.

Transtrend in Rotterdam, the Netherlands, and Harbor Capital Advisors in Chicago, USA are part of the Robeco group. Furthermore, Robeco holds interests in SAM Group (64%) in Zurich, Switzerland; Canara Robeco Investment Management (49%) in Mumbai, India; and AIM (40%) in Rijmenam, Belgium.

Robeco is part of Rabobank Group, one of the few retail banks with the highest credit ratings from Moody’s and Standard & Poor’s. Furthermore, within the banking sector, Rabobank has the highest sustainability cluster score, which is used to assess an organization’s people and environmental friendliness.