Novinda Corp., a Denver-based developer of environmental technologies for the power utility industry, has inked $6 million in Series C financing. New Venture Partners and Altira Group provided the financing, bringing the firms’ combined investment to $12 million, Novinda said. The money will help with the launch of a non-carbon reagent for mercury emission control [...]
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OPX Biotechnologies Inc. has closed on $36.5 million in a first close of its Series C round, the company said Thursday. US Renewables Group led the round, which included investment from new investor DBL Investors and from existing investors Mohr Davidow Ventures, Braemar Energy Ventures, Altira Group and X/Seed Capital. Pacific Crest Securities provided financial advice to OPXBIO. As a result of the round, US Renewables Group managing director Jonathan Koch has joined the OPXBIO board. The company will use the money for development and commercialization of an industrial-scale process for producing its first renewable chemical, BioAcrylic.
A bunch of changes over at Altira Group, an energy-focused venture capital firm that’s been in business since 1996. Most notable is the addition of new partner Steve Foster, who had spent the past decade with TPG (including as co-founder of TPG Ventures). The firm also has promoted Hull McKinnon to partner, while existing partner Jan Boyer has quietly left for parts unknown.
All of this seems to be in preparation of Altira’s plans to raise a new fund, since it’s almost done adding new portfolio companies to a $175 million pool raised in 2007.
Altira Group has promoted both Sean Ebert and Cory Steffek from senior associates to principals. Ebert joined the energy-focused firm in March 2008 from Booz Allen Hamilton, while joined the following month after receiving his MBA from the Kellogg School of Management.
EPS Corp., a Costa Mesa, Calif.-based developer of energy intelligence solutions for Fortune 500 companies, has raised $30 million in Series B funding. Altira Group led the round with a $10 million investment, and was joined by return backers NGEN Partners and Robeco.
NxtGen Emission Controls Inc., a Vancouver-based developer of syngas technology for diesel engine combustion optimization, has raised $15.4 million in Series B funding. Altira Group led the round, and was joined by ITOCHU Corp., an undisclosed Japanese auto maker and return backers Yaletown Venture Partners, GrowthWorks Capital, BC Advantage Funds and Polygon Financial Investments.