Westly Group Announces 150 Million Cleantech Fund
The Westly Group recently announced their 160M cleantech fund at the Cleantech Forum in San Francisco. Future360 got the inside story on the announcement.
According to Steve Westly, it’s harbinger of things to come. Westly cites the IPO for Tesla as the first time people saw a big transformational idea come to fore. This year Tesla will do more than $1.5B in revenue. Another big moment was the IPO of SolarCity, giving birth to the idea that anyone can put solar on their roof with zero down. These two examples of big ideas are what Westly is looking to continue.
Mike Dorsey spoke to us about the international nature of cleantech, that there’s greater enthusiasm for clean energy technologies outside the US than domestically. As many of The Westly Group’s strategic parters are from Europe and Asia, having investors from those same territories helps them understand the marketplace and do due diligence.
Gary Dillabough’s focus has been on evolving old analogue buildings into a digital format. He cites the effect of digital technology on advertising, photography and music and the major disruption and transformation it has caused. He hopes to see the same thing happen in the built environment.
The Westly Group are also excited by cleanweb 2:0, the intersection of the internet and sustainability. Led by companies like Nest, Silverspring Network, GoodEggs, a provider of sustainable foods, locally grown.