Hillside Ventures, a UConn student-led early-stage venture investment fund, has made a minority investment in a South Windsor-based clean energy company that has developed a super-efficient boiler.
Hillside Ventures has invested $25,000 in Enviro Power, developer of the “SmartWatt” boilers, which harness heat and steam that would otherwise be wasted to fuel a turbine generator that produces free electricity.
The company started production of its boilers in October, and they have already been installed in a student dormitory complex at Wesleyan University and in a 25-unit apartment building that was formerly a historic Simsbury Inn, among other places.
“We are excited to partner with Hillside Ventures in our mission to promote sustainable energy solutions,” said Dan Nadav, CEO of Enviro Power. “This investment will help us continue to grow our marketing and sales efforts and bring our SmartWatt Boiler technology to more commercial and residential buildings . Our goal is to make it easy for everyone to implement clean energy programs with an efficient and attainable solution. “
Aria Penna, sustainability lead at Hillside Ventures, said the deal represents the fund’s first investment in a UConn alumni-founded company.
Hillside focuses its investments on companies that are in the sustainability, insurtech or edtech industries. It was founded with support from UConn alumni.
