Recent investments expand CIRI’s reach into alternative energy and clean technologies. The company, with guidance from its Board of Directors, invested in Codexis Inc. and The Westly Group. Codexis is a private company that creates specialized enzymes and microbes that act as catalysts to increase the efficiency of chemical and biochemical manufacturing processes. The Westly Group is a venture capital fund that specializes in clean technology and government-related industries investments. These investments diversify CIRI’s investment portfolio by tapping into emerging alternative energy and clean technology markets.
CIRI invested $10 million in Codexis in April. The Redwood City, Calif.-based company designs and supplies industrial biocatalysts to the pharmaceutical industry, including such world-class clients as Merck and Pfizer (which is also an investor in the company). Codexis is also working with Royal Dutch Shell to develop advanced non-food based biofuels using Codexis technology. Shell announced this winter that it was shifting its alternative energy efforts away from wind and solar projects to more narrowly pursue biofuels, including fuels to be produced using Codexis’ technology. Shell is also a co-investor with CIRI in Codexis’ most recent stock issuance.
Codexis will also target its proprietary technology at the large-scale industrial and environmental issues of carbon management and water treatment. The company believes its technology can increase the efficiency of existing carbon capture and water treatment processes.
CIRI’s investment in Codexis will increase its exposure to future business and investment opportunities in the growing alternative energy and clean technology industries and markets. Learn more about Codexis at www.codexis.com.
Also in April, CIRI committed $5 million to Westly Capital Partners Fund L.P. The fund is headed by Scott Westly, former controller of the State of California and one of the country’s most successful clean technology investors. The Westly Group invests in clean technology companies and companies that serve government-related businesses. Some of the fund’s current investments include Tesla Motors, a high-end manufacturer of electric cars (in which Daimler AG recently acquired a 10 percent interest), and Amyris Biotechnologies, a producer of alternative fuels for the transportation industry.
CIRI anticipates its investment in The Westly Group will produce strong returns while providing strategic exposure and access to additional investment opportunities in expanding industries that would benefit from CIRI’s strengths and business relationships. Learn more about The Westly Group at www.westlygroup.com.