Mayfield brings cleantech sector expert on board
Mayfield Fund announced today that it’s hired Coskata founder Todd Kimmel, a specialist in cleantech investing, to expand its portfolio of energy technology companies. Before now, the Menlo Park, Calif.-based firm has focused almost exclusively on demand-side opportunities — companies that offer ways to gauge and reduce energy consumption. The addition of Kimmel, who has experience working with renewable energy providers, will help Mayfield address the supply side of the equation, says managing director Navin Chaddha.
Kimmel hails from Advanced Technology Ventures (ATV), located next door in Palo Alto, Calif., where he invested in solar, biofuel, clean coal and geothermal companies. He’s made a name for himself in the space as founder of bio-ethanol provider Coskata, a company that has sprinted ahead of the pack with generous capital — some from corporate heavy-hitters like General Electric. He became an entrepreneur in residence at ATV to make this happen and will continue his involvement in Coskata at Mayfield.
His most salient investments at ATV were Great Point Energy, a company that produces natural gas from biomass and coal sources, AltaRock, a geothermal developer, and CaliSolar, the capital-rich maker of solar cells from less-refined materials than pure silicon. On the demand side, he decided to back Sub-One Technology, a Pleasanton, Calif. company that coats the pipes in car engines to enhance fuel efficiency.
According to Chaddha, Mayfield is looking to take advantage of the cleantech sector’s resistance to the recession. He says the firm’s existing green technology portfolio — which includes light emitting diode maker Lattice Semiconductor and voltage stabilizing company Servomax — is built around a smart strategy to help save belt-tightening businesses money. But renewable and alternative energy sources have drummed up so much attention in the last year that it’s critical to commit resources to the trend now.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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