Addition to the EnerTech Capital Team

EnerTech Capital Adds Energy Industry Veteran Bob Chiste as Executive-in-Residence in Houston TX

October 21st, 2014, Toronto, ON & Philadelphia, PA – Leveraging our long history in the Energy and Power industry, we are pleased to announce that industry veteran, Robert M.  Chiste, has joined the firm as an Executive-in-Residence based in Houston, Texas.

Mr. Chiste has spent his entire career in the Power and Energy Technology industries, most recently serving as Founding CEO and Chairman of Comverge, Inc.  In 2001, he led the company's rapid growth including a highly successful IPO in 2007. EnerTech was an early investor in Comverge and worked closely to support Bob as he built Comverge leading to to a significant exit for EnerTech post IPO.  He retired in 2009 after having grown the company from a market cap of less than $5 million to over $300 million. Apart from launching Comverge's Commercial & Industrial and international businesses, Bob is widely recognized as the co-creator of the outsourced demand management programs known as Virtual Peaking Capacity. In essence, these programs established Demand Response as a well-accepted industry standard. Mr. Chiste has served as Interim CEO of two current EnerTech portfolio companies (REGEN Energy and Enbala Power Networks) and since 2009 has been serving as Chairman of both companies. He continues to be actively involved in building the strategy to create significant value in these two companies.  In addition, Bob is a private energy investor in the Energy Technology sector through his family investment vehicle, Sorfina Capital. He has served as the CEO and/or board member of five public companies and numerous private companies.

Scott Ungerer, Managing Director, EnerTech Capital, said:  “I have worked with Bob for over 16 years and we are very pleased to have him join the team in a more formalized manner. His extensive career as both an entrepreneur and Energy Technology industry executive will be extremely valuable to both our portfolio companies and our firm, as we build our portfolio in our most recent fund (EnerTech IV). Bob understands our strategy and our viewpoints toward the market place and I consider Bob to be one of the most insightful and successful pioneers of the overall Grid Modernization effort that is underway.”

Wally Hunter, Managing Director, EnerTech Capital, said: “Bob brings significant domain knowledge in the power and smart grid investment areas which ties in nicely with our long history in the industry. In addition, he is well connected in the Texas Oil & Gas market place which will help augment our continued focus on new technologies in the Oil & Gas sector in both Houston and Calgary. Bob’s extensive network and track record building companies will help us develop valuable linkages with the many emerging investment opportunities. Bob will also be working closely with us in Canada to help evaluate potential power/smart grid investments and establish key strategic relationships globally.”

Bob Chiste said: “I am delighted to join the EnerTech team, formalizing a collaborative relationship with them that goes back nearly two decades, including direct involvement in five EnerTech portfolio companies. I have worked with numerous venture capital firms in the Energy and CleanTech industries and no firm has brought the comprehensive knowledge and disciplined approach to energy investing over a sustained period of time as has the experienced team at EnerTech.”

 

About EnerTech Capital

EnerTech Capital is a private investment firm focused on innovation in the energy and power industries: early- to mid-stage companies that offer products or services that dramatically improve the profitability of producing or consuming energy. Founded in 1996, the firm has managed approximately $500 million. EnerTech is currently inhvesting out of its fourth fund and has offices in Toronto, Philadelphia, Montreal, Calgary and Menlo Park. EnerTech Capital is continuing its strong focus on the significant energy related opportunities in North America and closed $120 Million fourth fund in September 2013.  It has since made 8 new investments including N-Dimension Solutions, GeoDigital International, Inc., Space-Time Insight, Distech Controls, HPC Energy Services, Markwater Handling Systems, EnergySavvy, and REGEN Energy.

For more information, visit http://www.enertechcapital.com

CONTACT: Wally Hunter:  416-363-8563 whunter@enertechcapital.com

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