Commonwealth Energy Fund (CEF)

The Commonwealth Energy Fund (CEF) invests in high-growth, “commercially-available” energy ventures who demonstrate a high-level of commercial-readiness. In particular, the CEF seeks the very best ventures with the ability to immediately generate significant revenues - and - to create high-value jobs within the Commonwealth of Virginia.

Geographic Focus

CIT GAP Funds invests exclusively in companies headquartered, and with an express desire to grow in, the Commonwealth of Virginia.

Sectors

  • Renewable energy such as solar, wind, geothermal, ocean and hydro
  • Transportation technologies such as vehicles and components, batteries and fuel cells
  • Bio fuels such as cellulosic ethanol, algae, biomass and biodiesel
  • Green building technologies such as software, control systems and sensors
  • Water treatment and purification
  • Green information technology such as power management and smart grid technologies

Eligibility

  • Contribute to the energy efficiency and renewable energy portfolio
  • Promote the conservation of energy
  • Reduce the rate of growth of energy demand
  • Reduce dependence on imported oil

Note - In contrast with the GAP Funds, the CEF capital can be applied only to “commercially available”, revenue-ready businesses. Moreover, CEF capital requires the applicant to enter into unique terms and conditions separate and apart from the GAP Funds. Please be sure to read the ARRA requirements.

Key Resources

Application

Please send an executive summary to gap@cit.org.  Suggest executive summary template can be found here.