Abstract
The EnviroTech Investment Fund is one of five initiatives set up by the US electric utility industry under the `Climate Challenge` section of the President`s Climate Change Action Plan announced in October 1993. It is a venture capital fund that is being established to invest in companies that are focused on the commercialization of emerging electric and renewable technologies that are more efficient than those currently on the marketplace. The fund is managed by Advent International. The investment charter of EnviroTech encompasses alternative and renewable energy, waste treatment, electric power generation, storage, transmission and distribution technologies and medical waste destruction. Potential investments currently being evaluated include development of NO{sub x} reduction equipment. Deals already made include those on waste processing recycling and energy recovery facilities. Nine US electric utilities are participating in the Fund, including the Edison Electric Institute whose reasons for participation are given. The fund is open to electric utilities from Europe, the Pacific Rim and other parts of the world. A total of 32 million dollars is committed to the fund, with a follow-on of 150 million dollars.
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