We consistently review and update our primary metrics (cumulative since ’93):
- New business formations: 121
- Funding events: $1.2 billion
- Job creation: 13,518
Since clients do not pay fees or compensation to TVC of any kind, these are TVC’s primary success metrics. Return on our invested time with clients is paramount. While we’d like to help as many entrepreneurs as we can, we are selective and look for those with commercialization potential—that means evaluating many of the same criteria that investors use (team, technology, pain, market size, customer traction, etc.). Since we work with early stage companies, we select clients based on their potential, and help entrepreneurs drive toward each milestone. When they line up with what investors have told us they’re seeking, we’ll make the introduction.
TVC Announces IX Power Clean Water Capital Formation and Funding for ORGANICLEAR ™
September 05, 2012
ALBUQUERQUE, NEW MEXICO: Technology Ventures Corporation congratulated Los Alamos-based IX Power Clean Water, Inc. on their formation and raising an initial “seed” round of capital financing for its OrganiClear technology. The round is being led by the New Mexico Angels, and includes investors in New Mexico, Texas, Colorado, and the United Kingdom.
IX Power was a presenter at Technology Venture’s 2012 Deal Stream Summit and subsequent gatherings of the New Mexico Angels.
IX Power is commercializing the OrganiClear technology, which eliminates organic hydrocarbons and other toxins from oil and gas field produced water without creating a waste stream. The market for OrganiClear is extensive, but initially IX Power is targeting those regions throughout the globe where oil and gas production intersect with water scarcity.
OrganiClear is the result of a decade’s long multi-institutional collaboration and was invented by Dr. Enid (Jeri) Sullivan at Los Alamos National Laboratory (LANL), Dr. Lynn Katz and Dr. Kerry Kinney at the University of Texas, Dr. Robert Bowman at New Mexico Institute of Mining and Technology, and Dr. Soondong Kwon of the Republic of South Korea. LANL owns the patent rights and IX Power has the exclusive global commercialization rights for the technologies.
Technology Ventures CEO John Fresinger said “IX Power is another proven success story from this team, who have been clients of TVC since it was organized in 1993.
IX Power executive chairman and CEO John R. (Grizz) Deal said “We’re committed to making this a real community-based venture so have reached out to the angel and seed investor community to fund our clean water company, in advance of raising an institutional round. This is an excellent example of how local investors can have a positive global impact.”
IX Power Clean Water is a project of IX Power, the technology commercialization and product development company formed specifically to commercialize safe power and clean water innovations from U.S., U.K., and Russian national labs. IX Power has on-going research, development, and commercialization projects with Los Alamos National Laboratory, University College London, Moscow School of Management, and NIKIET (the Russian civilian nuclear lab).
The core IX Power team has been successfully taking U.S. Department of Energy innovations to market for 20 years. Previous ventures include Hyperion Power Generation, LizardTech, and other companies — all built upon the private sector transfer and commercialization of U.S. DOE technology. IX Power is based in Los Alamos with operations in Denver, Washington, London, Moscow, and Beijing.