A Vancouver-based venture capital firm that focuses on clean energy companies has just closed a new $70 million fund.

Chrysalix Energy LP announced that it has closed a total of $70 million in capital commitments for its second clean energy fund from a broad range of industrial and institutional investors. Limited partners in the new fund include Citigroup Venture Capital International, Teachers’ Private Capital, West LB Mellon Asset Management, Robeco, Saristar Enterprises (advised by Consensus Environment), Delta Lloyd, Kuwait Petroleum Corp, Essent, Mitsubishi Corporation, BASF Venture Capital and Shell Hydrogen among others.

The firm invests in and supports compelling technologies and entrepreneurial management teams that address the changing demands of the global energy industry. Current areas of investment interest include solar technology, biofuels & biomass conversion, new materials, fuel cells & hydrogen, clean coal, GHG reduction, energy efficiency, battery and energy storage, waste gasification and biological energy conversion.

“We are excited that our traditional support from leading industrial companies in this new fund is complemented with the support of strong financial institutions. Clean energy is becoming an attractive investment category and Chrysalix is one of the leading funds in this space,” said Wal van Lierop, president and CEO of the fund. “We started our first fund in 2001 and recognized at that time the tremendous growth and opportunity in the emerging clean energy sector. Together with our new partners we look forward to investing and building value in innovative young companies.”

“Our commitment to Chrysalix underscores Citigroup’s continued investment in renewable energy and developing clean energy technologies. We have been following developments in the clean energy industry for some time and believe that Chrysalix’s strong management team, access to deal flow, knowledge base and industry network, has made them a leader in this space,” said Andrew de Pass, a managing director at Citigroup Venture Capital International with oversight for Citigroup’s Sustainable Development Investment Program.

The fund has already invested in six companies: SiM Composites, a membrane technology developer; Day4 Energy, a manufacturer of PV products based on proprietary technology for contacting and interconnecting of crystalline silicon PV cells; Ardica Technologies, an innovative micro fuel cell company; Akermin Inc, a novel enzymatic power supply using a variety of different fuels; Cyrium Technologies, a developer of nanostructured GaAs photovoltaic solar cells; and ExRo, which has developed a fundamentally different generator design.