Pioneering Foundations and Family Offices Invest in Two Early-Stage Energy Ventures, Both Facilitated by PRIME
BOSTON, MA—(Marketwired - July 19, 2016) – PRIME Coalition, a nonprofit organization bringing philanthropic capital to energy innovation in order to vastly reduce global greenhouse gas emissions, has facilitated its second new investment into RedWave Energy, a pioneering start-up that generates electricity directly from heat and reduces the emissions associated with using fossil fuels to produce power. The Blue Haven Initiative, Will and Jada Smith Family Foundation, JUST Water, Ellis Family Fund at The Boston Foundation, Energy Foundry, Enertech Holding Company, and Northwater Intellectual Property Fund participated in Redwave’s Series B financing. Separately, PRIME closed additional funding into grid-scale energy storage innovator Quidnet Energy, the first company backed by PRIME. Quidnet’s Seed II round was funded by Clean Energy Venture Group.