March 5, 2008
Altira Group Continues Its Leadership in Energy Technology Investing and Announces the Closing of Its Fifth Energy Fund
DENVER, March 5 /PRNewswire/ -- Altira Group LLC -- the pioneer and leader in venture capital and private equity funding for energy technology companies -- announced the closing of its most recent fund, Altira Technology Fund V L.P. The limited partners include institutions that have partnered with Altira since 1996 as well as first time investors.
Fund V will invest $176 million over the next three years to partner with companies that commercialize technology utilized to increase productivity and efficiency gains throughout the energy value chain. As in previous funds, these companies are focused on the traditional and renewable energy sectors.
"Global energy demand continues to grow despite soaring energy prices," said Dirk McDermott, Managing Partner. "Our current estimated capacity and reserve development will fall far short of the projected demand in the next 20 years. Technology has been and will continue to be the solution for those challenges. Altira will continue to lead the way in finding, developing and most importantly, commercializing these new technologies."
"We can offer investors financial returns today as our portfolio companies meet the current energy demand challenge. Not 5, 10, or 15 years down the road," said Peter Edwards, Partner at Altira. "We are excited to be partnering with some of the best minds in the energy sector."
Jim Newell, Partner at Altira Group added, "Altira continues to distinguish itself by partnering with its portfolio companies and limited partners. We appreciate the strong commitment of our limited partners. Their support allows us to continue to be patient and diligent, and to find truly transformative companies in this dynamic marketplace."
About Altira Group
Altira Group LLC (http://www.altiragroup.com/) is a Denver based private equity and venture firm that has profitably invested in energy technology companies for over 12 years. Their portfolio includes companies in both the traditional and renewable energy sector. Altira pursues companies with transformative technologies that drive efficiency and productivity gains throughout the energy value chain while reducing the carbon footprint.
Altira is currently investing out of its fifth fund with $300MM under management. The typical initial investment is $5-$10 million with follow-on investments as warranted. They invest in companies that are commercializing technology and are lead by an effective management team with a compelling value proposition and a sustainable competitive advantage.
Altira Group LLC
CONTACT: Lori Herr of Altira Group LLC, +1-303-592-5505,[email protected]
Web site: http://www.altiragroup.com/http://www.windenergy.com/http://www.deepflex.com/http://www.rig.net/