Houston, Texas [RenewableEnergyAccess.com] Yellowstone Capital Partners LLC has announced the formation and launch of its second alternative and renewable energy fund, Yellowstone Energy Ventures II, L.P. (YEV II). Yellowstone has completed its investment program relative to its first fund, Yellowstone Energy Ventures, L.P. (YEV I) which was launched in mid-2004. Yellowstone is targeting $50 million in commitments for YEV II with Yellowstone Capital as its lead investor and anticipates an initial close of outside investors in early 2008.
Both YEV I and YEV II are venture funds focused primarily on early stage investments in clean energy technology. The funds have made and will continue to make a variety of investments in solar, energy storage, wind, and alternative fuel technologies.“Strong global demand and economic growth in virtually every region of the world — combined with high capacity utilization and depleting supplies for fossil fuels, the global drive to use cleaner fuels to fight global warming, and energy security concerns — have combined to close the economic gap between fossil fuels and renewables,” said Omar Sawaf, chairman of Yellowstone.