Renewable Energy Trust Opens Funding Opportunity

[] The second round of competitive funding opportunities from the Massachusetts Renewable Energy Trust (MRET) for early-stage, Massachusetts clean energy companies has begun. Money for the capital investments comes from the Sustainable Energy Economic Development Initiative (SEED). SEED is designed to provide flexible capital on reasonable terms to entrepreneurs at the critical stage between technology innovation and availability of commercial product. Highlights of the funding opportunity include: Up to $500,000 of funding in the form of a convertible loan; a 5-year, 8 percent Note with deferred debt service; the funds are convertible to equity; and applicants must have matching funds. Companies who have received SEED funding in the last 12 months are not eligible for the current round of funding. Eligible applicants are invited to submit proposals between February 23, 2005 and April 4, 2005. An optional Bidder’s Conference is scheduled for March 8, and participants must register for the conference. See the link below for more information.
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