CMEA Capital, a San Francisco-based capital management firm, will invest an additional $100 million in the alternative energy sector as part of its commitment to action for the Clinton Global Initiative (CGI).
CMEA Capital has invested in 14 alternative energy companies over the past seven years. As part of its initial 2007 commitment to the CGI to invest $100 million in alternative energy, CMEA helped fund several companies that have created much-needed manufacturing and green-collar jobs in the U.S.
Danotek Motion Technologies, a manufacturer of wind turbine generators, was funded by CMEA as part of its initial CGI commitment and has opened a manufacturing center in Michigan. The 40,000 square-foot Danotek facility has the capacity to produce up to 4,000 generators per year, creating 150 professional and skilled jobs, as well as opportunities for local components sourcing, as well as other services, such as forging, casting, machining and electronics assembly.
‘For the first time in history, environmentally friendly methods for producing energy like solar and wind power are becoming inexpensive enough to make mainstream adoption a reality, instead of just a pipe dream,’ says Thomas Baruch, founder and managing director at CMEA Capital.
CMEA made its first commitment to CGI in 2007, with an investment of $100 million in green energy companies.
SOURCE: CMEA Capital