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