Emerald Technology Ventures exits cleantech start-ups

Exits agreed

Swiss cleantech venture firm Emerald Technology Ventures said it has successfully exited two German clean technology companies.

Emerald recently divested its remaining position in Schmack Biogas, nine months after the company’s successful IPO on the Frankfurt exchange. Schmack went public on May 24, 2006 and by February 14, 2007 the share price had increased by 77 percent.

“Our involvement in Schmack Biogas has provided an impressive return to our investors that is comparable to traditional venture capital industry sectors like information technology,” commented Philipp Hasler, Investment Director of Emerald and a former director of Schmack. “At the time of our investment we anticipated strong growth in the market and are very pleased that Schmack has emerged as one of the global leaders in the biogas sector”.

In a separate transaction, Emerald exited its investment in fuel cell assembly manufacturer Pemeas, following its acquisition by BASF Future Business GmbH, Pemeas has developed a break-through high-temperature fuel cell membrane assembly for use in applications such as consumer electronic devices and backup power systems.

Emerald invested in Pemeas in two rounds of financing in 2004.

Emerald manages three venture capital funds and two venture capital portfolio mandates totalling more than Euros 250 million, and says it is looking for entrepreneurs with the vision to build world-class clean technology companies.