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AltEnergy, LLC is a venture capital firm founded in 2006 by Russell Stidolph, headquartered in Rowayton, Connecticut. The firm focuses on alternative energy opportunities, engaging in the investment, development, and management of projects and businesses globally. AltEnergy aims to drive innovation and sustainability within the energy sector, leveraging its expertise to identify and support transformative solutions.
As of now, AltEnergy manages a concentrated portfolio of five companies, with a disciplined investment strategy that targets various stages of business development, from pre-seed to Series C. The firm typically invests between $5 million and $50 million per opportunity. Notable milestones include the founding of several key portfolio companies and a strong track record in the alternative energy space.
AltEnergy's commitment to the alternative energy sector is reflected in its active involvement in corporate development and management, ensuring that its portfolio companies benefit from strategic guidance and operational support. The firm operates with a global perspective, seeking opportunities that align with its mission of promoting sustainable energy solutions.
AltEnergy, LLC invests across multiple sectors within the alternative energy landscape, including energy, climate, biotech, and healthcare. The firm targets investments in biofuels, renewable power generation, demand response software, transmission infrastructure, and energy storage technology. Their investment strategy is characterized by a disciplined approach, focusing on transformative solutions that address current and future energy challenges.
Investment stages range from pre-seed to Series C, allowing AltEnergy to engage with startups and established companies alike. The typical check size for investments falls between $5 million and $50 million, reflecting the firm's commitment to providing substantial support to its portfolio companies. AltEnergy seeks founders who demonstrate a clear vision and the capability to execute on innovative ideas, emphasizing the importance of strong leadership in driving growth.
In addition to financial backing, AltEnergy values active involvement in its portfolio companies, often taking on roles in corporate development and management. This hands-on approach enables the firm to leverage its expertise and network to foster growth and innovation within the alternative energy sector.
AltEnergy, LLC has a focused portfolio that includes five notable companies:
Among these, Eos Energy Enterprises stands out as a notable exit, having gone public on NASDAQ. AltEnergy's portfolio reflects its commitment to investing in transformative energy solutions that align with its mission of promoting sustainability and innovation in the energy sector.
Russell Stidolph: Managing Director and Principal of AltEnergy, LLC. He has over two decades of experience in alternative energy investing, having launched cleantech investing at J.H. Whitney & Co. in 2000. Stidolph is also the Chair of Eos Energy Enterprises, Inc. (NASDAQ: EOSE), which AltEnergy seeded.
Arul Gupta: Managing Director at AltEnergy, LLC. Gupta brings extensive experience in the energy sector, focusing on investment strategies and portfolio management.
Jon Darnell: Managing Director at AltEnergy, LLC. Darnell has a strong background in alternative energy investments and plays a key role in the firm's strategic initiatives.
To pitch AltEnergy, LLC, founders should send an email to info@altenergyllc.com. It is recommended to include a detailed pitch deck that outlines the business model, market opportunity, competitive landscape, and financial projections. AltEnergy appreciates clarity and thoroughness in presentations.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are beneficial, as they can facilitate initial conversations and enhance the likelihood of engagement.
In February 2024, AltEnergy Acquisition Corp, a SPAC launched by Russell Stidolph, announced a definitive business combination agreement with Car Tech, LLC to take it public on NASDAQ. This merger represents a significant development for AltEnergy's related investment vehicle.
Previously, in 2015, AltEnergy led a $23 million Series C investment in Eos Energy Storage, which later went public on NASDAQ as EOSE. In 2016, the firm was involved in an $8.5 million growth round for Viridity Energy, further solidifying its commitment to supporting innovative companies in the alternative energy sector.
What are AltEnergy's investment criteria?
AltEnergy invests in companies within the alternative energy sector, focusing on biofuels, renewable power generation, demand response software, transmission infrastructure, and energy storage technology. The firm targets investments ranging from pre-seed to Series C, with check sizes typically between $5 million and $50 million.
How can startups apply or pitch to AltEnergy?
Startups interested in pitching to AltEnergy can reach out via email at info@altenergyllc.com. It is advisable to include a detailed business plan and financial projections in the pitch deck to provide a comprehensive overview of the opportunity.
What makes AltEnergy different from other venture capital firms?
AltEnergy distinguishes itself through its hands-on approach to investment. The firm actively engages in corporate development and management of its portfolio companies, leveraging its expertise in the alternative energy sector to drive growth and innovation.
What is AltEnergy's geographic scope?
AltEnergy operates on a global scale, seeking investment opportunities in various regions. While the firm has a strong presence in the U.S., it is open to exploring alternative energy projects worldwide.
What is AltEnergy's post-investment involvement like?
AltEnergy takes an active role in the management and development of its portfolio companies. This involvement includes providing strategic guidance, operational support, and leveraging its network to facilitate growth and innovation.
What is the typical fund size or structure of AltEnergy?
While specific fund size details are not disclosed, AltEnergy operates as a private investment firm, engaging in principal investing rather than traditional GP/LP fund structures. The firm typically invests between $5 million and $50 million in its portfolio companies.
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