Michael J. Brown to use his over 40 years of venture capital experience to help identify the most useful applications for carbon emissions
VANCOUVER, BC – Today, Chrysalix Venture Capital (“Chrysalix ”), the world’s most active cleantech venture capital firm and a member of the Chrysalix Global Network (CGN), announced that Co-founder and Chairman, Michael J. Brown, has been selected to be a judge for the Climate Change and Emissions Management (CCEMC) Corporation’s international “Grand Challenge”. Launching in Alberta, Canada today, this open innovation competition will award up to $35 million in grants through three rounds of funding over a five-year period and is expected to result in multiple technologies that create new carbon-based, value-added products and markets providing significant net reductions in greenhouse gas emissions.
“It’s an honour to be a part of this groundbreaking initiative and we congratulate the CCEMC on their leadership, vision, and commitment to transforming carbon from a liability into an asset,” said Mike Brown, Chrysalix Co-Founder and Chairman. “With our office in Calgary, we continue to foster and support breakthrough innovation in Alberta, and look forward to working more closely with the CCEMC – with whom our purpose and values are so closely aligned.”
“Having Mike Brown and his depth of clean energy and investment experience and knowledge on our judging panel is a great asset to the Challenge as we review technology applications from around the world. We are hopeful the global entries represent exciting breakthrough technologies that can be quickly developed and commercialized,” said Kirk Andries, Managing Director of the CCEMC.
A media conference to announce the CCEMC Grand Challenge: Innovative Carbon Uses program was held today at the Sutton Place Hotel in Edmonton, Alberta. Chrysalix was represented by VP of Investments for Alberta, James Chepyha.
Technical solutions providers can register their interest in the CCEMC Grand Challenge at ccemcgrandchallenge.com
The CCEMC is a not-for-profit corporation that operates independently of government. Funding for the CCEMC is collected from industry. Since 2007, Alberta companies that annually produce more than 100,000 tonnes of greenhouse gas emissions over a baseline are legally required to reduce their greenhouse gas intensity by 12 per cent. Companies have three options to meet their reduction target: improve the efficiency of their operations, buy carbon credits in the Alberta-based offset system or pay $15 into the Climate Change and Emissions Management Fund for every tonne over the reduction limit. The CCEMC invests the money collected into the discovery, development and deployment of clean technology. More detail on CCEMC is available at ccemc.ca.
About Chrysalix Venture Capital
Chrysalix is a venture capital firm investing in technologies that will drive the new energy economy. The Firm provides early-stage financing, hands-on assistance, and strategic connections to innovative companies confronting the world’s most important energy and environmental issues. For the past two years, the Firm has ranked the most active clean energy technology venture capital firm in the world and today, is a member of the Chrysalix Global Network (CGN). The Chrysalix team has an exceptional track record in this emerging industry. Collectively, it has over 120 years of experience in the energy industry and over 120 years in the venture capital business. The Firm is backed by a strong group of international blue-chip industrial and financial Limited Partners, and is headquartered in Vancouver, British Columbia, with a supporting office in Calgary, Alberta. For more information, please visit www.chrysalixevc.com.
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