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VOL 3 • February, 2015 EnerTech Capital “Thought Leadership in Energy Technology”

EnerTech Update

Wally Hunter,

Managing Director

EnerTech Capital

EnerTech is pleased to release its third edition of

EnerTech Quarterly. We were busy over the past

quarter both with our existing portfolio and new

deals in EnerTech IV. The major investment

highlights since our last report include:

EnerTech IV

EnerTech signed two term sheets in Q4

2014, with total investment from $9-$10

million, and is targeting Q1 2015 closes,

subject to final diligence. To date

EnerTech has invested $33 million in

eight companies. Should these two deals

close, we will have invested $42-$43

million and have ten investments in ECP

IV.

We have continued to see strong deal flow in

the US and Canada with over 750 deals in

2014.

Our investment strategy continues to be focused

on the Energy Technology sector. EnerTech is

active in seeking out innovative technologies from

“The Well Head to the Wall Socket” and we are

seeing interesting opportunities including:

Behind the Meter technologies (Distributed

Energy Resource Management)

Building automation, lighting and energy

efficiency technology

Digital Oilfield and Oil & Gas technologies

focused on reducing production costs

EnerTech III

We closed on aggregate follow-on

investment of $500 thousand in three ECP III

companies.

ENERTECH QUARTERLY

EnerTech added two new members to our Advisory Board:

Mike Babcock:

Mike is currently coach of the Detroit Red Wings

and former Head Coach of the Canadian Men’s

Hockey Team (Olympic Gold Medals in 2010 and

2014). Mike’s success and knowledge building

successful teams will be a valuable resource to our

Board and Portfolio companies. He will bring great

value helping our CEOs build strong management

teams and motivating team members to focus on

building successful companies.

Vicky Sharpe:

As the founder and former CEO of SDTC, Vicky

brings significant domain knowledge in the Energy

Technology space within our investment focus

areas. Her extensive background and networks in

dealing with both Government and the Private

Sector will help us develop valuable linkages for our

Portfolio companies and the Fund.

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ENERTECH QUARTERLY

Oil Price and Impact on the Energy Technology

Sector:

There have been many questions recently around the

impact of the oil price on our sector. At EnerTech we have

a very broad investment strategy in the Energy Technology

Sector and have focused on technologies that reduce costs

of production and that create real reductions in the level of

energy consumption.

We see the recent decline in oil prices as a great

opportunity for new technologies that help bring down the

costs as O&G producers are forced to become even more

competitive in a low oil price environment. Our ECP IV

investment in Markwater, now rebranded as Western

Oilfield Equipment Ltd., is an example of a technology that

allows drillers to recover and re-use expensive oil-based

muds and provides a payback of $3-$5 thousand per day in

savings. While drilling has declined in the current

environment, solutions like Western Oilfield provide such

strong ROIs to operators that they are seeing an increased

amount of interest in their technology notwithstanding the

current down turn.

There has also been an increased focus in the Digital Oil

field, which involves the digitization and/or automation of

various aspects of exploration and production. This

represents a great opportunity for us and we see significant

value in technologies like these for cost reduction within Oil

& Gas companies.

It is also important to put the recent oil price decline into

context:

There have been two severe declines in the price of oil

in the past 15 years (2001 & 2008). The average

duration of these declines was approximately 10

months.

According to Reuters, 10 of 12 OPEC producing

countries are not able to balance their budgets with oil

below $70, with some requiring oil prices well above

$100.

Political instability in the Middle East has a strong

potential to impact short and long term oil price trends.

A very small amount of oil goes into electricity

production. Low cost natural gas is a much bigger

factor for renewables and power production. It is also

important to remember that natural gas prices have

been low for a number of years.

The long term factors driving the energy sector

including the continued drive to improve living

standards for developing nations will continue to

increase long term energy demand.

At EnerTech, we view the recent oil price decline as an

opportunity to continue to build our portfolio with

companies at attractive valuations offering cost reducing

technologies in all areas of the energy landscape.

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ENERTECH QUARTERLY

Scott Ungerer

Managing Director, EnerTech Capital

The Electric Utility - A Brief Modern

History

For most of the last century, electric utilities were vertically

integrated monopolies. Then, as now, safety and reliability

were the industry’s guiding principles. The industry upheld

these principles through a culture of self-reliance and

centralized control. Energy generation, transmission and

distribution assets were all built, owned and operated by

utilities. During this era, electricity, especially in the US,

was extremely inexpensive. Then, in the early 1970s things

started to change due to higher prices, environmental

pressures and deregulation.

The 1973 oil embargo caused a sharp increase in oil prices.

At the same time a growing environmental movement

brought public pressure to bear on utilities to add

conservation and energy efficiency programs to their

customer offerings. In 1978, the Public Utility Regulatory

Policy Act (PURPA) was enacted as one of the first laws that

deregulated energy companies and enabled customers to

participate in the supply of electricity. Among other things,

it also increased efficiency by encouraging cogeneration.

From the mid-1980s and into the 1990s the utility business

model continued to evolve as utilities diversified operations

and sought out new opportunities that were compatible

with their existing regulated utility business. Meanwhile,

customer-side energy systems, primarily in the form of large

and small cogeneration, and energy efficiency projects

started to have an impact on energy grid conditions. A

capacity crisis in New England in the early 2000s expanded

and formalized the role of customers on the energy grid.

Power pools started offering incentives to customers willing

to stand ready to curtail consumption to help stabilize the

grid during peak demand periods leading to the dawn of the

Demand Response (DR) era.

The popularity of DR grew over the next several years.

Comverge, a former EnerTech portfolio company that went

public in 2007, and EnerNOC, today one of the largest

providers of energy intelligence software and services, and

several other Curtailment Service Providers (CSPs) helped

launch DR as a stand-alone service.

CSPs made residential, commercial, institutional and

industrial customers part of the solution to the peak load

and transmission/distribution congestion issues faced by

utilities. DR evolved to control discrete loads for one to six

hour time periods for four to eight days per year. The

amount of load under management increased dramatically

from 2005 to 2010 solidifying DR as an established business.

Distributed Energy Resource Management (“DERM”) – The Evolution of North

American Utilities

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ENERTECH QUARTERLY

As DR became more mainstream, engineers, entrepreneurs,

and researchers expanded the concept of ‘excess’ capacity/

energy ‘hidden’ on the customer premise as a way to

support electric grid operations and lower costs. Key

considerations to expand the use of these assets included

the following:

Ensure low cost and timely connectivity to assets

Coordinate use of assets to solve grid operational and

reduce costs for the customer

Understand when an asset is available for use other than

for its primary purpose

Build a system that reliably responds when needed

Create business models and/or regulatory programs

with the proper economic incentives

The popularity of demand-side management and distributed

generation coincided with growing centralized energy

challenges including: increased network congestion,

generation retirements and restrictions on the type of new

plants that could be built. Mindful of the issues, policy

makers and regulators developed programs that once again

looked to the customer side of the meter for solutions

leading to the birth of the Distributed Energy Resources

(DER ). Greentech Media defines DER as follows:

“DER is a package of customer-side technologies including

energy efficiency, demand response, distributed generation

and storage (both thermal and electric), and smart electric

vehicle charging. These technologies can play a critical role in

increasing the efficiency and reliability of the power system,

reducing costs, and integrating increasing levels of variable

renewables, like wind and solar. They can benefit both

consumers and grid managers.”

Transition to the Edge

The proliferation of DER shifted the mindset of utilities.

Recognizing the need to replace the decline of centrally

generated Megawatts, utilities focused more on generation

and management strategies available at the edge of the

network. This potential was not without its challenges

however. The intermittency of distributed renewable

generation attributed primarily to solar, and to a lesser

degree, wind was a key challenge. This issue was

exacerbated by the disaggregated nature of solar and wind

deployments. The combined impact created unprecedented

operational problems on the grid. Utilities needed to

integrate these deployments into their networks but found

it difficult to meet the challenges through a centralized

systems. It soon became apparent that the most cost

effective and efficient way to manage distributed energy

resources was with a Distributed Energy Resource

Management System (DERMS). This market shift to the grid

edge was a big “aha moment” with revolutionary

consequences.

At the Edge

The shift to the grid edge has inspired the launch of new

technologies and viable business models that use behind the

meter resources to benefit both customers and the grid.

EnerTech’s investment theme follows these trends, focusing

on DER technologies including: demand management,

distributed generation, DERMS and distributed storage,

arguably the least developed of these three and where a

game changing solution is yet to occur.

EnerTech Portfolio Companies in the DERMs space

Enbala Power Networks

Enbala software is extremely unique in that customer

premise assets enlisted in the network both statically and

dynamically indicate whether they are available to be used

for something other than their primary purpose. Taking a

variable speed pump as an example. Its full load operation

might be required between certain hours, otherwise the

unused capability can be used to support whatever Enbala

chooses – firming of renewable generation; relaxing

distribution system congestion issues; avoiding a coincident

peak for the customer, etc.

Tangent Energy Solutions

Tangent’s Distributed Energy Resource Management System

(DERMS), named Tangent AMP™, monitors grid, facility and

on-site generation assets, and alerts customers ahead of

h igh-value economic opportunit ies . Demand

Design™ and Demand Design PLUS™ build on Tangent

AMP™ to actively manage customer demand and integrate

generation assets in response to these opportunities. By

uniquely building out a DER solution from the customer side

of the meter, and monetizing it through exclusive

relationships with energy retailers, municipal utilities and

other Load Serving Entities (LSEs), Tangent motivates and

empowers customers to become price makers on the

energy grid while making it easier for the energy industry to

access and integrate distributed energy resources.

EnerTech Portfolio companies EnergySavvy and REGEN

Energy also play within the DERM space. EnergySavvy’s

software is used by leading utilities to improve energy

efficiency and demand-side management (DSM) program

performance. REGEN’s wireless energy management

system controllers help customers simplify energy efficiency

and demand response, manage electrical demand for

building equipment, and reduce costs.

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ENERTECH QUARTERLY

A provider of building automation, control and

energy management solutions for commercial,

institutional, and government portfolios, integrating

HVAC, Lighting, Access Control and CCTV.

November 21, 2014 - Distech Controls Further

Expands Into Australasian Market

October 30, 2014 – Distech Controls Launches

Addition to Smart Room Control Solution

October 15, 2014 - Distech Controls Broadens Open-

to-Wireless™ Offering

September 9, 2014 - Distech Controls Launches First

and Only Smoke Control System Based on

NiagaraAX Framework™

EnergySavvy helps to power the world efficiently

with cloud software that engages customers,

automates demand-side management programs and

quantifies results.

December 31, 2014 - EnergySavvy is named as one of

10 Companies To Watch In Energy Analytics by Forbes

November 9, 2014 - New Mexico Gas Company

Launches Energy Analyzer, Powered by EnergySavvy

Chris Warrington, joined GeoDigital as

President and CEO in September of

2014. Chris brings more than 25 years

of relevant industry experience to his

role having previously served as

President of the Americas for Ventyx,

an ABB company.

ECP IV Portfolio Company News If you are viewing a digital version, please click on the news item for more information.

Distech’s Smoke

Control System

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ENERTECH QUARTERLY

N-Dimension protects critical infrastructure assets

from costly cyber-attacks.

December 18, 2014

N-Dimension Announces Tom Ayers

has Joined Company as New CEO and

Closes $3.5M Series B Funding

REGEN Energy is a developer of energy efficiency

controllers for commercial, institutional, industrial,

and multi-unit residential facilities.

December 8, 2014 - REGEN

Featured in The Globe and Mail

October 22, 2014 - REGEN

Featured in Conservation Fund

Case Study

October 7, 2014 - REGEN

Closes Series B Funding

September 15, 2014 - REGEN

Appoints Pete Malcolm as

President & CEO

Space-Time Insight (STI) is a market-leading provider of

situational intelligence solutions, empowering companies in

asset-intensive industries to make faster, more-informed

decisions.

November 04, 2014 - Situational Intelligence Takes

Flight At Third Annual SI World Hosted By Space-Time

Insight

October 24, 2014 - Hydro One Wins Prestigious Grid

Analytics Award System Powered by Space-Time

Insight’s Asset Intelligence Solution

October 13, 2014- Space-Time Insight Repeats As Big

Data/Analytics Winner Of Fierce Innovation Awards

October 6, 2014 - Space-Time Insight Is Named In The

2014 Global Cleantech 100

September 8, 2014 - Space-Time Insight And NEC

Announce Smart Energy Partnership

Markwater Handling Systems recently rebranded as

Western Oilfield Equipment Ltd. Western Oilfield is a

proprietary drilling technology products company focused

on increasing the safety and efficiency, reducing the cost and

lowering the environmental impact of horizontal drilling.

The company seeks to capitalize on the immense

opportunity presented by the rapidly expanding horizontal

drilling market by building out a platform of specialized and

proprietary rig products through organic growth and

strategic acquisitions.

For more on Western Oilfield Equipment, visit:

www.westoil.ca

To view their VAC-Screen™ Drilling Fluid Recovery

System, please click below.

Western Oilfield’s drilling fluid recovery system

Tom Ayers, CEO, N-Dimension Solutions

Pete Malcom, President &

CEO, REGEN Energy

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ENERTECH QUARTERLY

CalStar Products is a leader in the development of

affordable and sustainable building products.

October 27, 2014 - CalStar opens new facility in

Columbus, Mississippi

September 10, 2014 - CalStar names Jack Barry as CFO

Enbala Power Networks operates a real-time,

demand management platform (called GOFlex™)

that offers a way to connect electricity users to the

grid to perform non-disruptive demand response by

intelligently aggregating the inherent flexibility in

how they consume power.

October 21, 2014 - OPA Case Study - Energy Storage

Innovation with Enbala

October 06, 2014 - Enbala Receives Top Recognition at

the Fierce Innovation Awards - Energy Edition

September 24, 2014 - Enbala Selected as a Finalist for

Fierce Innovation Award

FilterBoxx Water & Environmental provides Water

Treatment Solutions for industrial, municipal, resort

and aboriginal clients employing proprietary

processes and technologies.

December 9, 2014 - $35M Project Completed

November 14, 2014 - FilterBoxx Exhibits at the

International Water Conference

November 3, 2014 - FilterBoxx Announces 100% Score

on External COR Audit

October 29, 2014 - FilterBoxx Announces Rental Fleet

Expansion to Serve Clients Across Canada

October 7, 2014 - FilterBoxx is Named in the 2014

Global Cleantech 100

September 15, 2014 – FilterBoxx announces Assets in

Nova Scotia, Canada

The NanoSteel Company is a leader in nano-

structured steel materials design. NanoSteel

develops and commercializes a portfolio of steel

alloys with patented chemistries and mechanisms

designed for superior performance and value.

September 24, 2014 - NanoSteel Demonstrates

Breakthrough in Additive-Manufactured Wear Materials

Audio and Video:

ECP III

Company Snapshots from Previous EnerTech Funds

ECP II

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Corporate Strategic Profile

Strategic Relationship and Key Areas of Focus

EnerTech and Advanced Emission Solutions (“ADES”) began

a strategic partnership in August, 2014. The partnership

gives ADES insight into the interesting technology and

business opportunities EnerTech is evaluating in the energy

technology space while also providing EnerTech with great

access to strong expertise in the emissions control sector.

Advanced Emissions Solutions is a leader in developing

technologies that advance cleaner energy, serving the power

generation, oil and gas, and industrial fields. Their current

commercial environmental technologies and specialty

chemicals enable facilities to enhance existing air pollution

control equipment, minimize mercury, acid gas, and other

emissions, maximize capacity, and improve operating

efficiency. In addition, ADES continues to advance cleaner

energy by developing CO2 capture processes, technologies

to reduce flaring from Oil & Gas wells, options to stabilize

and utilize combustion byproducts, and has recently licensed

a grid-scale energy storage technology.

ADES serves as the holding company for; ADA-ES, Inc.,

BCSI, LLC., Advanced Clean Energy Solutions, LLC., and is

an owner of Clean Coal Solutions, LLC.

ADA-ES, Inc. supplies Activated Carbon Injection ("ACI")

systems for mercury control, Dry Sorbent Injection ("DSI")

systems for acid gases, chemicals, and technology services in

support of its customers' emissions compliance strategies.

BCSI, LLC is a custom designer and fabricator of engineered

emissions control technologies, bulk material handling

equipment, bulk storage systems, water/waste water

treatment equipment, and custom components. In addition,

BCSI supplies Dry Sorbent Injection ("DSI") systems for acid

gas control. BCSI's technical solutions serve a wide range of

industrial clients including; coal fired utilities, water

treatment, wastewater, cement kilns, food processing and

industrial boilers. BCSI employs engineers and trade

professionals at a 190,000+sq. ft. fabrication and office

facility located in McKeesport, PA.

Advanced Clean Energy Solutions, LLC is a technology and

product development company that identifies opportunities

in cleaner energy that fit the corporation’s strategic goals

and develops select opportunities into commercial realities

through internal R&D, licensing, and partnering.

Clean Coal Solutions, LLC ("CCS"), is a 42.5% owned joint

venture by ADA that provides ADA's patented Refined Coal

("RC") CyClean™ technology to enhance combustion of

and reduce emissions of NOx and mercury from coals in

cyclone boilers and ADA's patent pending M-45™ and M-45

-PC™ technologies for Circulating Fluidized boilers and

Pulverized Coal boilers respectively.

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The EnerTech Forum and Limited Partners Meeting was held in Scottsdale in December 2014. The complete event agenda is below,

followed by photos from the event. EnerTech’s next Limited Partners Meeting will be held in December, 2015 in Florida.

ENERTECH QUARTERLY 2014 EnerTech Forum and Limited Partners Meeting - Scottsdale, AZ

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ENERTECH QUARTERLY 2014 EnerTech Forum and LP Meeting - Scottsdale, AZ

Left: LPM Sponsors, Right: Tom Willie (Blue Pillar), Scott Ungerer (EnerTech), Thad Ewald (Cummins), Chip Wood (Duke Energy)

Left: David Hunt (UBS), Right: Tesla interior with EnerTech website on touchscreen panel.

Left: Kevin Evans (Johnson Controls), Wally Hunter (EnerTech), Trevor Hill (Fathom), Right: Bryan Dow (Mooreland Partners), Tom Ayers (N-Dimension), Dom

Geraghty (EnerTech)

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ENERTECH QUARTERLY 2014 EnerTech Forum and LP Meeting - Scottsdale, AZ

Left: David Berkowitz (Alta Lake Capital), Tony Van Bommel (BDC Capital), Barry Gekiere (MaRS Investment Accelerator Fund), Right: Matt Jones (Nth

Power),Grant Allen (ABB Technology Ventures)

Left: Joe Mowery (Stephens), Gary Vollen (Deukalion Advisors), Anne Vollen, Right: Victor Scutaru (BDC Capital), Alison Nankivell (BDC Capital)

Left: Jimmy Leung (Raymond James), Chris Warrington (GeoDigital), Wes Zimmerman (Raymond James), Right: Marguerite Clark (Energy Sector), Jim Morris

(Waste Management)

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ENERTECH QUARTERLY 2014 EnerTech Forum and LP Meeting - Scottsdale, AZ

Left: Cam MacNaughton (Newalta), Art Robinson (32 Degrees), Eric Schmadtke (EnerTech), Jarett Carson (EnerTech), Bryan Helfenbaum (Devon Canada), Right:

Eric Schmadtke (EnerTech)

Left: Grant Allen (ABB Technology Ventures), Etienne Veilleux (Distech Controls), Kevin Evans (Johnson Controls), Gerd Goette (Siemens Venture Capital), Right:

Gerd Goette (Siemens Venture Capital), Grant Allen (ABB Technology Ventures), Rob Schilling (Space-Time Insight)

Rob Schilling Dean Musser

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ENERTECH QUARTERLY 2014 EnerTech Forum and LP Meeting - Scottsdale, AZ

Joel Rood Chris Warrington David Paratore

Bob Russell Etienne Veilleux Bud Vos

Aaron

Goldfeder Tyler Armstrong Tom Ayers

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ENERTECH QUARTERLY 2014 EnerTech Forum and LP Meeting - Scottsdale, AZ

Larry Novachis Dave Karpenske Mike Harris (Fasken Martineau), Kristina

Williams (AEC)

Left: Heather Zichal (Energy and Climate Policy Expert), Middle Bottom Row (from left to right): Gordon Pridham (Edge Water Capital), Alex Beliaev (EDC), Etienne

Veilleux (Distech Controls), Colette Roy (FSTQ), Didier Culat (BCF LLP), Middle Top Row: Bryan Helfenbaum (Devon Canada), Senia Rapisarda (Harbourvest), Alison

Nankivell (BDC Capital), Michael Machabee (EDC), Right: Didier Culat (BCF LLP), Anne-Marie Bourgeois (EnerTech), David Paratore (Nanosteel)

Left: Brad Pierce (BLG), Rob Hallenbeck (Waste Management), Didier Culat (BCF LLP), Anne-Marie Bourgeois (EnerTech), Jane Kearns (MaRS), Rebecca Giffen

(AEC), Right: Angelica Mengana (EnerTech), Ryan Duffy (Blackstone Energy Services), Grant Allen (ABB Technology Ventures), Craig King (National Bank), Scott

Ungerer (EnerTech), Anne Vollen (GreenZebra), Matt McElhattan (Chevron Venture Capital), Etienne Veilleux (Distech Controls), Colette Roy (FSTQ), Mike

Woollatt (CVCA)

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ENERTECH QUARTERLY

Select Canadian VC Investments from Q3 2014

Select transactions since Q3 2014

Company Name Description Major Investors Investment

Amount (Cdn)

Researcher, developer and investor in

processes that produce economically

scalable graphene

PHX Financial, Gold-

man Sachs, BDC, Harris

& Harris

$2.8 million

Developer of energy and capital-efficient

technology for capturing carbon dioxide

from industrial sources

Mitsui Global Invest-

ment, The Roda Group,

Chevron Technology

Ventures, Chrysalix

Undisclosed

Venture Capital Update - Canada

Deal-making in Canada’s VC market stayed on a growth path in dollar terms in the third quarter of 2014. VC funds

invested a total of $734 million in financing rounds nationwide in this period, up 26% from the $581 million invested at the

same time in 2013. Disbursement levels in Q3 2014 were also up 45% from amounts invested in Q2 2014.

Source: (Thomson Reuters, CVCA)

Company Name Description Major Investors Investment

Amount (Cdn)

Provider of interconnect solutions for

data center and communications net-

works.

BDC $24 million

Developer and manufacturer of LED

Light Sheet, solid state inorganic LEDs

for general illumination.

Yaletown Venture Part-

ners, ARCH, BDC,

EDC, GE Ventures

$18.4 million

Developer of proprietary catalyst tech-

nology to produce wax from recycled

plastics.

Cycle Capital, GO Cap-

ital

$17 million

Developer of energy efficiency control-

lers for commercial, institutional, indus-

trial, and multi-unit residential facilities.

EnerTech, EDC,

NGEN, BDC, major US

utility

$12 million

Provider of detection and ranging sys-

tems based on LED lighting for transpor-

tation, automotive and industrial mar-

kets.

BDC, OMERS, Azure

Capital Partners,

Deutsche Telekom

$7 million

Provides cyber-security protection for

critical infrastructure assets including:

generating plants, control centers, sub-

stations, field control systems, SCADA

systems and smart meter networks.

EnerTech, EDC $3.5 million

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ENERTECH QUARTERLY

Select US VC Investments from Q3 2014

Select transactions since Q3 2014

Company Name Description Major Investors

Investment

Amount

(USD)

Developer of intelligent, customer-sited

energy storage systems

K Road DG $56 million

Manufacturer of solar steam generators

for the oil and gas industry

Chrysalix, KPCB, Grotech

Ventures, Revolution Ven-

tures, SWaN & Legend Ven-

ture Partners

$53 million

Provider of financing solutions for the

adoption of renewable energy sources in

commercial and domestic buildings

Valor Equity Partners, GSR

Ventures, Khosla Ventures, $50 million

Developer of silicon carbide (SiC) and

gallium nitride (GaN) technology to im-

prove the efficiency of power electronics

Intel Capital, Total Energy

Ventures, KPCB, Bright Capi-

tal, BASF Venture, BP Ven-

tures

$40 million

Producer of hardware and process and

materials solutions to streamline produc-

tion of OLEDs

Samsung Ventures, Kansas Bio-

science Authority, Middleland

Capital, Novartis Venture

Fund

$38 million

Venture Capital Update - United States

Venture capitalists invested $9.9 billion in 1,023 deals in the third quarter of 2014. With more than $33.0 billion invested

through the first three quarters, total venture investing in 2014 has eclipsed total venture investing in all of 2013, which

totaled $30.0 billion.

Source: Thomson Reuters, NVCA

Company Name Description Major Investors Investment

Amount (USD)

Provider of solar installation

and services

Triangle Peak Partners, Hu-

ron River Ventures, Hyde

Park Venture Partners, SV

Angel, Sam Altman

$250 million

Producer of solid-state heat

pumps and fully integrated

systems that displace com-

pressors for residential and

commercial refrigeration,

room air conditioning, and

heating

Eastwood Capital, Rock-

Port Capital Partners, Cra-

ton Equity Partners

$44.5 million

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ENERTECH QUARTERLY

The EnerTech Team

A Seasoned, Diversified, and Experienced Group

Wally Hunter

Managing Director

Lyndsy MacArthur

Executive Assistant Angelica Mengana

Analyst

Scott Ungerer

Managing Director

Bill Kingsley

Managing Director

Dean Sciorillo

Director

Colleen Pale

Director of Finance

and Administration

Donna Smith

Executive Assistant

Gian Vergnetti

Analyst

Eric Schmadtke

VP Investments

Jarett Carson

Managing Director Dr. Dominic Geraghty

Executive in Residence

Hoon Chung,

Executive in Residence

Philadelphia

Montreal Calgary

Toronto

Menlo Park Boston

Anne-Marie Bourgeois

VP Investments

Robert M. Chiste

Executive in Residence

Orange County Houston

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ENERTECH QUARTERLY

The EnerTech Strategic Advisory Board

Our Network is an Extended Family of Deal Sourcing, Due Diligence and Exits

The EnerTech Strategic Advisory Board is made up of a diverse and experienced group of visionaries, industry

leaders and experts in various disciplines. They bring unparalleled expertise and a wide network in the areas of

energy services and policy, information technology, Oil & Gas, and clean energy innovation. We are proud and

grateful to have them as members of our Advisory Board.

Alan Cadotte

President and CEO, Newalta

Corporation

Dr. Jim de Wilde

President, JdW Strategic Ventures

Alex Beliaev

Investment Manager, EDC

Mike Babcock

Current coach of the Detroit Red

Wings and former Head Coach of

the Canadian Men’s Hockey Team

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ENERTECH QUARTERLY

Michael Harris

Former Premier of Ontario

Bryan Helfenbaum

Manager of Technology

Development at Devon Canada

Rebecca Kauffman

President and COO, Southern Ute

Alternative Energy

Eric Legault

Managing Partner, Teralys Capital

Dr. Bill Madia Chairman of the Board of

Overseers and VP for the SLAC

National Accelerator Laboratory,

Stanford University

J. Scott Magrane

Managing Director, Coady Diemar

Partners

John Morris Sr. Vice President of Field Operations

Waste Management

Governor George Pataki

Former Governor of New York

David Milenthal

CEO, The Milenthal Group

Rebecca Giffen

Director of Investments, Alberta

Enterprise Corporation

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ENERTECH QUARTERLY

Vicky Sharpe

Founding President of SDTC

Gordon Pridham

Principal, Edgewater Capital and

Newalta Board Member

Nils Voermann - Global

Managing Director -

Technologies, Hatch

Marty Toomajian

President of Energy, Health &

Environment, Battelle

Victor Scutaru

Director, Fund Investments, BDC

Venture Capital

Laurence Rose

Senior Managing Director,

Cantor Fitzgerald

Rob Soni

Independent Board Member

Guillemette Picard

Investment Director, GDF Suez

New Ventures

Clark Phippen

Independent Board Member

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ENERTECH QUARTERLY

February 3-5, 2015 – San Diego, CA

DistribuTECH

February 9 - 11, 2015 - Washington, D.C.

ARPA-E Energy Innovation Summit

February 25-26, 2015 - Lake Louise, AB

VCAA / CVCA Conference and Ski Day

March 16-18, 2015 – San Francisco, CA

CleanTech Forum

March 25 – 27, 2015 – Santa Barbara, CA

Wall Street Journal Economics Conference

April 16 – 18, 2015 – Houston, TX

Rice Business Plan Competition

April 22 – 23, 2015 – Calgary, AB

Gas and Oil Expo - ISA Calgary Show

April 27, 2015 - Athens, Greece

Global Water Intelligence Global Water Awards

April 27 – 29, 2015 – Florence, Italy

Cleantech Forum Europe 2015

May 6 – 7, 2015 – San Francisco, CA

NVCA’s VentureScape 2015

May 19 – 21, 2015 – Vancouver, BC

CVCA Annual Conference

May 21 - 22, 2015 Vancouver, BC

EnerTech Capital Advisory Board Meeting

June 23 – 25, 2015 – San Diego, CA

Grid Edge Live - Greentech Media

November 11, 2014 - Canadian Energy Technology

Industry Veteran Dr. Vicky Sharpe Joins the En-

erTech Capital Advisory Board

October 21, 2014 - EnerTech Capital Adds Energy

Industry Veteran Bob Chiste as Executive-in-

Residence in Houston TX

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