CA-based Nth Power forms relationship with NextEnergy to facilitate MI investment

NextEnergy has announced an unprecedented partnership with California-based Nth Power, a green technology investment firm with funds currently under management valued at $450 million. NextEnergy will be Nth Power’s “eyes and ears and face in Michigan” explains Mark Beyer, NextEnergy’s director of marketing communications and external relations.

NextEnergy is tasked to connect between Nth Power with promising alternative energy start-ups, utilizing a rigorous screening process developed in-house. Nth Power, who has already invested in two Michigan companies, including Novi-based Microposite, “sees a huge intellectual and manufacturing power base here,” explains Beyer. “This is a logical place for them to look for investment opportunies. They’re a really good fit for what Michigan does really well. They saw the writing on the wall.”

The partnership, which is of an as-yet undetermined length, will result in Nth Power making multiple visits to the Detroit area. “We will have office space available for them to occupy while they’re here,” says Beyer.

He sums up their relationship: “They are interested in anything in the area of alternative energy, alternative fuels and sustainability. And we will funnel them the deal flow they’re looking for.”

Source: Mark Beyer, NextEnergy
Writer: Kelli B. Kavanaugh