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California Clean Energy Fund
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The California Clean Energy Fund (CalCEF) is a non-profit entity that was formed in 2004 from the PG&E bankruptcy settlement negotiated by the California Public Utilities Commission (CPUC). The fund will make equity investments totaling at least $30 million in emerging clean energy technology companies.1 CalCEF will invest in companies located in PG&E’s service territory and elsewhere that are developing technology or products that could benefit the region.
While CalCEF is a non-profit entity, it will make for-profit investments in commercially viable companies. Profits will be reinvested in the Fund. Funds will be invested in private companies creating technologies or products that will lead directly or indirectly to decreased reliance on non-renewable fuels.2 This can include companies focusing on renewable energy, energy efficiency, energy storage, and other areas. It can also include companies providing products and services, such as software, that are designed to enhance a particular aspect of the clean energy sector.
Footnotes
1. California Clean Energy Fund, An overview of the California Clean Energy Fund. Retrieved on: 27 February, 2009.
2. California Clean Energy Fund, An overview of the California Clean Energy Fund. Retrieved on: 27 February, 2009.
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