commercialization Partnerships

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Where others might see potential, we see opportunity. When others are busy trudging through bureaucratic red tape, we're saying, "What if? And diving in." When someone else says, "You'll do things my way now," we're reaching across the table to build partnerships for success.


We're CleanTech Partners. And we're in this with you.

Project Spotlight

Treat All Metals  Glendale, Wisconsin

High-efficiency radiant tube inserts save the heat-treating company $37,000 in the first year


Like most companies, Treat All Metals in Glendale, Wisconsin, was concerned about the rising cost of energy. As a heat-treating facility that relies heavily on natural gas for its daily operations, Treat All sought ways to improve the efficiency of its furnaces. When the

When the company learned of a new, easy-to-install technology that promised to reduce gas consumption by 10 percent with a one-year payback, it seized the opportunity.


The result? Treat All reduced natural gas consumption in two of its furnaces one by 11 percent and the other by 15 percent and saved $37,000 in the first year alone, for a one-year payback. How did they do it? With the help of a new radiant tube heater insert

called SpyroCorTM and financial incentives from Focus on Energy, Wisconsin's energy efficiency and renewable energy initiative.

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Partnerships at work

Technology Commercialization


The following case studies detail ways in which we worked with technology developers to commercialize products and create energy savings in Wisconsin.



Boiler Airflow Optimization: Paprican


CleanTech Partners secured the services of Paprican Pulp and Paper Research Institute of Canada to conduct onsite boiler optimization studies using its patented technology. Paprican's boiler services optimize combustion air distribution, boiler temperature profiles, and firing parameters in power and recovery boilers, yielding improved performance, efficiency and output.

In recognition of this project's potential, Focus on Energy offered a $10,000 rebate to each of the first five participating facilities, regardless of the study's outcome.


Paprican is the world's leading pulp and paper research and technology institute. Its mission is to enhance the technical competitiveness of its member companies through research and educational activities.


Ethanol Production Efficiency: Lucigen Corporation


CleanTech Partners provided $350,000 in equity funding to the Lucigen Corporation in early 2005 for work on the development of enzymes that can improve the energy efficiency of bioethanol production and other similar processes. CTP's investment helped Lucigen further develop and test its enzymes in a full-scale plant and served as match funding for federal grants.

Located in Middleton, Wisconsin, Lucigen's core expertise and business are discovering, developing, and marketing novel enzymes and enzyme-related products of high commercial value. Lucigen invented the ultra-efficient DNA cloning technologies (patents pending) that are incorporated into its CloneSmart™ gene cloning and genomics products, NanoClone™ cloning services, and Single Cell Genomics technology for new product discovery. The company sells more than 50 different biomedical research products and services. It has already been awarded $5 million in competitive Small Business Innovation Research (SBIR) grants from the National Institutes of Health, the National Science Foundation, and the US Department of Energy.


Black Liquor Gasification: ThermoChem Recovery International, Inc.


CleanTech Partners has been working with ThermoChem Recovery International, Inc. (TRI) since 2004 to bring black liquor gasification (BLG) technology to Wisconsin's pulp and paper industry, providing a variety of advisory services as well as in excess of $200,000 in funding of feasibility studies at Wisconsin pulp mills. Black Liquor Gasification (BLG) is a revolutionary approach to the conversion of organic wastes to hydrogen-rich gas for use in power generation and the production of bio-based fuels. Each installation could save an average-sized pulp mill 200 million kWh annually. Located in Baltimore Maryland, TRI has developed BLG technology into an environmentally advanced energy and chemical recovery system for the pulp and paper industry. It has already built two plants that are operating commercially and generating significant energy savings: one at Norampac - Trenton, Ontario, Canada , and the other at Georgia-Pacific Corporation - Big Island, Virginia.



Metal Heat-Treating Efficiencies: Spinworks LLC


CleanTech Partners provided $350,000 to Spinworks LLC to help it expand the marketing of its innovative SpyroCor product into Wisconsin. SpyroCor is a patented, high-tech ceramic (silicon-graphite) insert for gas-fired radiant tube heaters used in metal heat-treating furnaces that reduce the energy demands of the process by 10% to 20%. CTP's funding was used to employ a Wisconsin sales representative and to help Spinworks expand its business and product offerings. As CTP and Spinworks completed the investment transaction, Spinworks initiated its activity in Wisconsin resulting in the first Wisconsin installation on June 13, 2005, at Treat All Metals, Inc. CTP estimates that the use of Spyrocors at the 15 to-date locations in Wisconsin is saving nearly $500,000 of natural gas each year.??Spinworks, founded in 2001 in Erie, PA, develops and markets products that address key energy efficiency needs in the industrial metal heat-treating sector. Nationally, this sector spends about $2.5 billion/year on natural gas. Spinworks intends to expand the penetration of the SpyroCor product and introduce two additional products over the next three years.


Hydrogen and Fuel Gas Production: Virent Energy

Systems, Inc.


CleanTech Partners provided a $250,000 line of credit in mid-2004 to Madison, Wisconsin-based Virent Energy Systems, Inc., to help commercialize its Aqueous Phase Reforming (APR) process, a carbon neutral method for on-demand production of hydrogen and fuel gas. Virent combined the funding from CTP with the $2 million federal Advanced Technology Program (ATP) grant it had received from the National Institute of Standards and Technology and a $300,000 Technology Development Fund loan from the Wisconsin Department of Commerce.


Virent's patented APR process enables localized production of hydrogen using readily available sugar-based feedstocks, effectively eliminating hydrogen transport, storage and safety roadblocks that impede adoption of hydrogen-fueled power systems. With this proven process, Virent is positioning itself as the preferred source for the cost-effective production of hydrogen and fuel gases for industrial, stationary, and transportation applications.


Virent was founded in Wisconsin in 2002 using technology developed by Dr. Randy Cortright and Professor James Dumesic, and licensed from the Wisconsin Alumni Research Foundation (WARF).


Wastewater Processing: BEMI, Inc.


CleanTech Partners provided BEMI, Inc. with access to over $105,000 in debt financing in 2003–2004 to finalize the development of its innovative energy-saving waste-processing technology. The company used the loan to complete its patent application and conduct on-site testing at two locations. CTP also helped BEMI apply for and win a Wisconsin Department of Commerce Early Planning Grant and a Wisconsin DNR technology demonstration grant. BEMI's patented technology uses bioelectronics to apply high-frequency alternating current to reduce bacterial counts and BOD (biochemical oxygen demand) loads in liquid waste streams with very low energy input. A 10% market penetration for this first technology application provides 400,000 terms of energy reduction per year. BEMI repaid its loan from CTP and was recently purchased by BioIonix, Inc., which continues to develop and commercialize the technology.


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FREQUENTLY ASKED QUESTIONS

  • Why is Cleantech Partners so popular?

    Cleantech Partners is popular because we cater specifically to energy technology investors, providing them with unparalleled opportunities to invest in proven, market-ready technologies. Our focus on supporting energy technology investors in energy efficiency initiatives within Wisconsin's key industries makes us a go-to choice for investors seeking impactful ventures. Additionally, our expertise in identifying promising technologies and our flexible financing options set us apart in the eyes of energy technology investors.


    Furthermore, Cleantech Partners' credibility as a trusted resource for energy-saving technologies attracts a wide range of energy technology investors looking to align their investments with sustainable initiatives. Our proven track record of successful partnerships and our strategic approach to investing in emerging technologies make us a preferred destination for energy technology investors seeking maximum returns while contributing to a cleaner, greener future for Wisconsin and beyond.

  • What type of funding does CTP provide?

    CTP provides capital in the form of loans and equity for the commercialization or adoption of emerging energy efficiency technologies that can benefit Wisconsin.

  • How much funding can you provide?

    Up to $550,000 per transaction. This money is often leveraged with other sources, such as banks or private investment.

  • What's an "emerging energy efficiency technology"?

    Broadly speaking, it is a technology that (1) has been developed, tested, and patented, (2) whose use will reduce the consumption of energy in a commercial or industrial setting, and (3) has not yet been demonstrated and/or implemented in Wisconsin.

  • For an equity investment, how do you make valuations?

    CTP uses a variety of standard best practices to form our opinion about a venture's current valuation, including discounted cash flows and comparison to peers.

  • For an equity investment, what type of returns do you expect?

    We seek returns that are commensurate with the risks and liquidity of the investment, and we think through such topics with a commercial mindset.

  • Will I need a business plan to get an equity investment?

    Yes. We can start our dialogue without one, however.

  • What type of interest rate and terms might I expect?

    Because CTP does not wish to take business away from banks and to conserve our modest investment fund, our loans are made at an interest rate that is equal to or slightly higher than the rates on your other commercial financing. If you can get funding from your local bank, that is what you should do. As a non-profit organization, CTP is only here to fill gaps not fully managed by the private sector.



  • Do you provide grants?

    No. We do, however, sometimes assist our investment clients with the preparation and submission of grant applications that complement our investment.

  • I need to finance energy efficiency improvements at my industrial facility. What can you do to help?

    If you are adopting an emerging technology in your industry, we may be able to provide financing. If the technology you seek to implement has already entered the best practice realm, such as lighting, compressed air, or motor drives, it can no longer be considered emerging, which places it outside the scope of our mission. For assistance in adopting best practice technologies, contact our friends at Focus on Energy.

  • Do you work with start-ups or established companies?

    Either. While we understand the increased risks of start-ups, we are more concerned about the team, the technology, and the market potential than the stage of the business involved.

  • I am a technology developer from outside of Wisconsin. Can you help me?

    Yes, so long as the technology can help save energy in Wisconsin.

  • I'm just developing my technology and need money to do more development and testing. Can you give me a loan?

    We do not generally fund R&D and recommend private financing or applications for grant funding through a program like the US Department of Energy's Small Business Innovation Research Fund.

  • My business is headquartered in Wisconsin, but I have an energy-saving project that I want to implement in our Minnesota plant. Can you help me?

    No, the technology must be put to use to save energy in Wisconsin.

  • Will my technology get "extra credit" if it is also good for the environment and creates jobs?

    By their nature, energy efficiency technologies and projects are usually good for the environment, so that is anticipated. Job creation is also important, but not normally a determining factor.

  • My technology is a new way to generate electricity and sell it on the grid. Is this project eligible for your financing?

    Probably not. We typically do not work on the supply side, except for certain renewable energy technologies that directly supplant purchased electricity, natural gas, or liquid propane at industrial sites.

  • How does CTP get its funding?

    CleanTech Partners receives the bulk of its funding from the State of Wisconsin's Focus on Energy program. Additional funding sources include corporations and other government contracts for projects that are consistent with CTP's mission. CTP is currently seeking additional sources of funding to promote its energy efficiency agenda.

  • How do you differ from Wisconsin Focus on Energy?

    We work hand in hand with Focus on Energy on a variety of industrial projects, but while our emphasis is on financing emerging technologies, theirs is on grants and other incentives to help implement best practices.

Energy Technology Investors