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From: Abstacts from ICCF-7 (Saved as a seperate file here.)

From: NEN, Vol. 6, No. 1, May 1998, p. 20.
New Energy News (NEN) copyright 1998 by Fusion Information Center, Inc.
COPYING NOT ALLOWED without written permission.

NEW ENERGY PARTNERS, Abstacts from ICCF-7, p. 38

New Energy Partners (NEP) is a venture capital limited partnership that was established in December, 1997 to invest in companies that are in the process of commercializing revolutionary new energy technologies. One of the initial technology areas of focus is new hydrogen energy. Because the participants at ICCF-7 are quite familiar with this technology, we will not detail it in this abstract.

NEP will focus on investing in companies that have demonstrated prototype products that are within two years of commercialization. The products must demonstrate dramatic new approaches to energy production, not just increment improvements in energy efficiencies. Specifically, we are looking for over unity devices that demonstrate the potential of 200% + over unity with 1-2 kilowatt outputs for a commercial product.

NEP is in the process of building an investment fund of $15 million. It is estimated that these funds will be invested in approximately 10 to 15 companies over the 7-10 year life of the portfolio. Since its inception, NEP has invested in two promising companies.

Mr. Daniel J. Cavicchio, Jr. manages the General Partner of NEP. For the past 14 years he co-managed Greenwich Venture Partners, a buy out firm specializing in turnarounds of technology-based companies. Prior to that he was with McKinsey and Company as an Engagement Manager consulting for technology-based companies, such as General Electric, AT&T, and Corning Glass. In addition, he served as Director, Business Development at American Can Company, where he managed new business, new product, and acquisition programs. Mr. Cavicchio holds a Bachelors Degree from Rensselaer Polytechnic Institute, where he graduated first in his class, and Masters and Ph.D. degrees from the University of Michigan.

NEP Will also consider licensing technologies that have strong commercial prospects. In this case, NEP will set up a new company to commercialize the technology with the original inventor receiving license payments and/or an equity position in the new company. In any event, Mr. Cavicchio will be closely involved with the progress of each portfolio company, and many cases will serve on the Board of Directors.

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Jun. 1, 1998.