Portfolio Companies

Konarka Technologies
Konarka is an advanced technology development company commercializing a new thin film, roll-to-roll, inexpensive solar photovoltaic manufacturing technology. Due its innovative manufacturing technique, the technology has the potential to reduce PV costs to below the $1/watt mark, bringing electricity production into direct competition with grid power. The Fund joined a Series C financing round led by New Enterprise Associates, and included Draper Fisher Jurvetson, Zero Stage Capital, Vanguard Ventures, Partech International, Prime New Energy, SDL Ventures, Good Energies, and Presidio Venture Partners.
Protonex Technology Corporation

Protonex is a developer of PEM (proton exchange membrane) fuel cell stacks and systems, with unique, proprietary designs and manufacturing methods.  The company's technology increases the useable stack volume, dramatically reduces the stack size and cost, and virtually eliminates the problem of leakage faced by other manufacturers.  The company is targeting a variety of low-power portable and remote applications, and has won several government R&D grants.  The Fund joined a Series B financing that included Conduit Ventures, SAS Investors, Solstice Capital, Commons Capital, Parker Hannifan Corporation, and Contango Capital Management.


Lilliputian Systems

Lilliputian Systems, Inc. is developing miniature, high energy density solid oxide fuel cell systems for wireless electronic devices based on MEMS technology out of MIT and Lawrence Livermore National Labs (LLNL). The proprietary technology offers substantially higher gravimetric and volumetric energy densities over current lithium ion battery technologies. The Fund joined in a Series C financing that included TD Capital, DAG Ventures, Kleiner Perkins, Atlas Ventures, Chrysalix Energy Management, and Rockport Capital.
CTP Hydrogen
CTP Hydrogen, Inc. is developing a fuel reformer that generates pure hydrogen from a wide variety of conventional liquid fuels, including ethanol, gasoline, diesel, and JP8. This technology enables high-efficiency, low-emission, silent fuel cell products without requiring national investment in a gaseous hydrogen distribution infrastructure. The Massachusetts Green Energy Fund led the company's Series A1 financing. Other investors in the company include Sumitomo Corporation, Yasuda Investments, SAM Equity Investments, AretÍ Corporation, and Commons Capital.


Seahorse Power Corporation
Seahorse Power Company applies proprietary energy management technology to develop, manufacture and sell innovative, energy-efficient products. The company's initial product, the BigBelly Cordless Compaction Systemô, delivers distributed trash compaction to the points of collection, thereby reducing the frequency of collections required and the costs (and associated carbon dioxide and pollution emissions from truck traffic) related to solid waste removal efforts.


PoroGen Corporation
PoroGen Corporation commercializes chemical- and temperature- resistant porous polymeric membranes for a wide range of nanofiltration, microfiltration, gas separation, and gas transferapplications, including methane recovery and biofuels processing. The Massachusetts Green Energy Fund led the company's Series A financing.

Konarka Technologies
Lowell, MA

Protonex Technology Corporation

Southborough, MA

Lilliputian Systems, Inc.
Woburn, MA


CTP Hydrogen, Inc.
Southborough, MA

Seahorse Power Company
Needham, MA
PoroGen Corporation
Medford, MA
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