Investment bank Morgan Stanley apparently doesn’t just see profits in solar technology installations or electric vehicle infrastructure startups; the firm has also decided to take a minority stake in cleantech venture firm NGEN Partners. Morgan Stanley calls its investment “the first by a major Wall Street firm in a clean technology venture firm.”
NGEN was established in 2001; its portfolio includes solar companies like SolFocus, Konarka, Solaria and Tioga Energy; electric vehicles startup Venture Vehicles; carbon capture company Powerspan; and green concrete maker Hycrete. We interviewed NGEN partner Robert Koch last October and learned more the company’s interest in materials and next-generation solar.
Morgan Stanley has estimated that the entire global market capitalization for renewable energy is $170 billion. In an effort to capture some of it, the company has a variety of clean energy investments, such as the Morgan Stanley Carbon Bank and a $190 million-commitment to SunPower’s solar installations. As for its own environmental efforts, Morgan Stanley is trying to go carbon neutral this year by purchasing carbon offsets.