MassCEC Portfolio Companies

MassCEC supports Massachusetts cleantech companies through both direct equity and debt investments. These investments span a diverse range of companies across various stages and sectors of the cleantech industry. By investing in promising and economically sustainable companies, MassCEC seeks to advance clean technology, fill funding gaps in the market, create green jobs in the Commonwealth and leverage private capital. A selected MassCEC portfolio is below.



1366 Technologies is a manufacturer of multicrystalline solar wafers that increase efficiency and cut material costs by up to 50 percent.


AST has developed a highly repellent surface coating which repels contaminants. Applying SLIPS to a ship’s hull reduces marine fouling that creates significant drag, resulting in an 86% increase in fuel efficiency.


AeroShield manufactures super-insulating transparent materials for energy efficient windows.


Alkemy Environmental has developed a technology that recycles industrial waste streams into environmentally friendly structural grade lightweight concrete aggregate.


Battery Resourcers is developing a lithium ion battery recycling process that produces 20 times less carbon dioxide than common battery recycling processes.


Blackburn Energy is a developer of renewable electric power solutions for the commercial trucking industry which increase fuel efficiencies, lower fuel costs for drivers, and reduce carbon emissions.


Boston Materials is enabling the mass-adoption of lightweight composites to drastically reduce transportation emissions.


CIMCON Lighting has developed an intelligent wireless outdoor lighting control system that reduces energy use.


DemandQ is the developer of a software solution, supplemented by a hardware installation, that manages and reduces peak demand through the digital queuing of electric loads.


Electra is developing intelligent battery control technologies designed to reduce system costs and weight, while doubling battery lifetime and improving safety for energy storage systems.


Ekotrope is a developer of building design software that improves energy efficiency while decreasing both capital expenditures and operating expenses of the building.


EnergySage is a solar comparison shopping platform that reduces customer acquisition cost and sales cycle time.


Nanoramic Labs is the developer of nanotube-enhanced ultra-capacitors that reduce the cost of hybrid vehicles and grid storage.


Heila Technologies simplifies the aggregation and operation of distributed energy resources to create self-managing microgrids, while also helping to optimize performance and control.


Idle Smart developed an automated engine start stop solution that maintains fleet uptime by keeping batteries charged and engines warm, as well as reducing overnight idle time and providing year-round cabin comfort for drivers.


Leading Edge Equipment Technologies is pioneering new single-crystal silicon wafer manufacturing technology for solar panel manufacturing that provides a low-cost, high-efficiency, and low-emission alternative to the industry's standard technology.


Loci Controls has developed a two part system of continuous monitoring and automatic control for the optimized collection of landfill gas.


MC10 is an advanced materials company commercializing specialty flexible semiconductors.


OptiRTC is the developer of technology that intelligently optimizes storm water management infrastructure.


Pecos Wind Power manufactures and sells wind turbines to schools, businesses, and towns so that they can generate their own renewable energy at affordable rates.


Raptor Maps builds software that analyzes solar plant performance and organizes the data into a transparent system of record.


Sistine Solar has developed an adhesive film for solar panels to change their color and appearance. The film can be used to make panels blend into roofs or display a graphic, while still allowing for a high amount of light transmission.


Solstice Power Technologies deploys community solar, which enables households to subscribe to a shared solar farm in their neighborhood.


Sunwealth is an investment firm focused on clean energy, with a well-diversified portfolio of solar power projects helping to bring renewable energy to their customers as well as sound financial returns to their investors.


Sustainability Roundtable provides a membership-based, strategic advisory and support service that helps management teams set goals, drive progress, and report results as they lead their organizations to more sustainable high-performance.


Tessolar has developed a simplified mounting system that reduces costs and increases energy yield to decrease electricity costs for PV systems.


Titan Advanced Energy Solutions develops advanced battery management systems for lithium-ion batteries, which provides customers multiple benefits including extended battery life and charge capabilities.


Transaera is developing energy-efficient, sustainable cooling using novel composite materials.


Via Separations has developed high performance graphene oxide membranes that enable more efficient industrial processes.


Voda serves water utilities by using Artificial Intelligence that finds pipes with a high risk of failure, helping utilities prioritize pipe replacements, conserve water and energy, and avoid catastrophic breaks.


WeSpire is an employee engagement platform that enables individuals and entire organizations to drive measurable, positive impact in areas of sustainability, volunteering, health and wellness, and corporate citizenship.



















































































































































Exited Companies







7AC Technologies is a manufacturer of high efficiency HVAC systems for commercial buildings. 7AC was acquired by Emerson Electric in November 2020, which will be commercializing 7AC's technology.  





Acumentrics is a developer of solid oxide fuel cell technology and rugged uninterruptible power supplies. MassCEC sold its shares in Acumentrics in December 2020 to an investor group who will continue to scale the business.  





Bevi markets smart point-of-use water and flavored beverage machines, eliminating bottled water usage and reducing energy consumption associated with the bottled drink industry by over 80%. MassCEC issued Bevi a venture debt loan that was repaid in full in February 2020. 




Bigbelly Solar manufactures solar powered, waste-compacting bins for use in municipalities and public spaces such as parks, beaches, amusement parks, and universities. Bigbelly was recapitalized by McCarthy Capital in December 2019, exiting MassCEC’s portfolio. BigBelly continues to grow its business with fresh capital investment from McCarthy. 





PanelClaw is the developer of commercial flat roof photovoltaic mounting systems. MassCEC issued PanelClaw a growth loan that was repaid in full in June 2018. 



Powerhouse Dynamics has developed a hardware and software solution which monitors, analyzes and controls circuit-level energy consumption in small commercial buildings. Powerhouse was acquired by Middleby Corporation in April 2019, a global leader in the foodservice equipment industry, exiting MassCEC's portfolio. Powerhouse continues to operate autonomously in Massachusetts. 


Retroficiency has developed web-based building energy analytics software to perform energy audits. In October 2015, Retroficiency was acquired by Ecova, successfully exiting MassCEC's portfolio.


SolarOne Solutions developed and marketed stand-alone PV-powered lighting systems and accompanying controllers. SolarOne was acquired by France-based Fonroche Lighting in August 2019, and continues to operate as Fonroche Lighting’s US subsidiary. 

XL Fleet offers a comprehensive suite of fleet electrification solutions to accelerate EV transformation. XL went public in December 2020 (NYSE:XL).