Skystream Markets Receives Investment From LaunchCapital

Posted on 09. Apr, 2012 by in blog, Funding, Startups

Skystream Markets Inc., a provider of institutional transaction platforms
for the renewable energy markets, today announced an investment from LaunchCapital, a venture capital investor with offices in New Haven, Conn., Cambridge, Mass. and Palo Alto, Calif.

LaunchCapital joins an investment syndicate that includes Connecticut Innovations, Ironwood Capital Connecticut’s Connecticut Growth Fund, the Clean Energy Venture Group and several leading angel investors from the financial technology industry.
“LaunchCapital sees its investment in Skystream Markets as a foundational placement in the REC trading markets behind two highly experienced and passionate founders and their team,” said Konstantine Drakonakis, Director at LaunchCapital. “LaunchCapital is looking forward to assisting Skystream Markets as it executes its plan and scales this incredible opportunity.”

Skystream Markets acts as a neutral intermediary in the environmental market and does not take principal risk, thereby avoiding any conflicts of interest with customers. The team has deep expertise and a successful track record in building trading infrastructure in new markets that require service improvements to the entire trade cycle.

“We’re delighted to have a venture capital group of this caliber join our investment syndicate to help us build the company,” said Skystream Markets co-founder Naeem Hukkawala. “We plan to grow our innovative technology offering to provide the next generation of transaction platforms for the environmental trading markets” added Kapil Mohindra co-founder of Skystream Markets.

Skystream Markets is focused on the state level Renewable Portfolio standards, which form the basis of the primary tradable environmental market in the US, called Renewable Energy Certificates (RECs). Each REC represents one Megawatt of renewable power.
Skystream Markets’ trading platform improves price discovery and market depth in both the primary and secondary REC markets. Skystream Markets serves institutional investors, including some of the largest renewable energy producers, utilities and commodities traders.

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