Wednesday, September 27, 2006

VCs Unveil Clean Technology Winners

The California Clean Tech Open, the VC-organized "clean technology" competition has announced the five winners of the group's competition to jump start a green business. The group, which is backed by angel investors and VC firms Advanced Technology Ventures, Chevron Ventures, Draper Fisher Jurvetson, Foundation Capital, New Enterprise Associates, Bay Area Equity Fund, and Venrock Associates, named five winners to the business plan competition. Winners included Adura Technologies a developer of lighting management products; GreenVolts, which provides energy matching systems; KiteShip, a developer of very large kites for reducing ship fuel costs; EDC Technologies Inc., which develops hot water controllers, and Crystal Clear Technologies, a developer of nano-coatings for water filtering. The winners are being given more than $100,000 in prizes, each, including $50,000 in cash plus a variety of services.