Alberta Enterprise invests $15 Million USD in Chrysalix Clean Energy Fund

Investment brings leading clean energy venture capital firm to Alberta

EDMONTON, May 18 /CNW/ - Alberta Enterprise, a fund of funds manager investing in knowledge-based industries, today announced a $15 Million USD investment in the latest clean energy fund from Chrysalix, a venture capital (VC) firm focused on early-stage clean energy technologies. This is one of Alberta Enterprise's initial investments, and will improve access to capital for entrepreneurs in the clean tech sector.

Chrysalix is a well-renowned clean energy VC firm, having helped raise more than $800 Million in equity for early-stage companies. With the final closing of this latest fund from Chrysalix Energy Venture Capital for $123 Million, the firm is now actively looking for investment opportunities that make traditional energy cleaner, as well as new sources of alternative energy. "The opening of our new office in Calgary and recruitment of a full-time, Alberta-based investment professional, demonstrate our desire to leverage Alberta's tremendous energy industry expertise and our confidence in the growth opportunities in the sector," said Michael Walkinshaw, Managing Director and CFO, Chrysalix.

In addition to attracting an active VC investor to Alberta, the investment by Alberta Enterprise brings other important benefits to Albertan clean tech entrepreneurs. "In addition to capital, Chrysalix will provide entrepreneurs with extensive sector, management and financial expertise, and the ability to leverage their impressive list of global industry contacts," said Rod Charko, CEO, Alberta Enterprise. "A skilled investor with strong sector experience like Chrysalix is a key driver in the success of start-up companies."

About Alberta Enterprise: www.alberta-enterprise.ca

Alberta Enterprise is a fund of funds manager based in Alberta, Canada. We invest in technology venture capital funds that finance early-stage, knowledge-based companies. Our focus is on venture capital fund managers with a presence in Alberta, making investments in Alberta and abroad.

About Chrysalix: www.chrysalix.com

Chrysalix is a venture capital firm investing in technologies that will drive the new energy economy. The firm provides early stage financing, hands-on assistance, and strategic connections to innovative companies confronting the world's most important energy and environmental issues. In the past few years, the firm has consistently ranked among the top most active clean energy technology venture capital firms in the world. The Chrysalix team has an exceptional track record in this still-young industry. Collectively, it has over 100 years of experience in the energy industry and over 100 years in the venture capital business. The firm is backed by a strong group of blue-chip international industrial and financial Limited Partners, and is headquartered in Vancouver, British Columbia. In total Chrysalix has approximately $300M in assets under management.

SOURCE ALBERTA ENTERPRISE

For further information: For further information: Media Contact for Alberta Enterprise: Jacquelynn Twarzynski, (403) 808-2161

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ALBERTA ENTERPRISE

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