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SELCO attracts new capital from Social Investors
The Lemelson Foundation and E+Co, January 12, 2009
 Since its creation in 1994, E+Co, a non-profit company, empowers local enterprises in developing countries by providing business services and investment capital. These local businesses deliver vital clean energy services to households, businesses and communities.
The E+Co business model offers positive financial returns combined with social and environmental benefits. E+Co makes debt and equity investments in clean energy businesses in developing countries. E+Co not only invests capital but also the tools and business know-how to make clean energy businesses successful.
“E+Co is thrilled to continue its relationship with SELCO India, a relationship that began in 1995 when we first invested in the enterprise,” says Philip LaRocco, CEO of E+Co. “Having worked with Harish Hande and his team for more than a decade, I can say that they represent the best in energy entrepreneurship and that their business has successfully demonstrated what a for-profit socially oriented enterprise can accomplish. We’re equally thrilled to be working with Good Energies and Lemelson on this new investment. http://www.eandco.net/ 
 Founded by Jerome Lemelson, one of U.S. history's most prolific inventors, the Lemelson Foundation uses its resources to recognize and celebrate accomplished inventors; provide financial and mentoring support to grassroots inventors; offer hands-on opportunities that enable young people to develop their budding scientific curiosity; and disseminate technologies that improve people’s lives. To date, the Foundation has donated or committed more than $150 million in support of its mission in the U.S. and developing countries.
Flexible Use of Capital
The Foundation matches the appropriate capital instrument to an organization’s funding needs. For example, it provides Program Related Investments (PRIs) to help both for-profit and non-profit organizations scale, improve their results, and attain financial sustainability. It has also committed 5% of its endowment portfolio to Mission Related Investments (MRI), concentrating initially in the area of clean technology and renewable energy. www.lemelson.org
"SELCO is an innovator not only because it develops energy products that are specifically designed to meet the needs of poor consumers," notes Julia Novy-Hildesley, Executive Director of the Lemelson Foundation, “but also because the company creates customized credit mechanisms and marketing and delivery methods for its clients. This company is putting the private sector to work for the poor, and the Lemelson Foundation has tailored its investment to SELCO’s needs during its growth stages over the past few years to help it reach its goals."
 The Good Energies Foundation, a Swiss-registered not-for-profit foundation focuses on the alleviation of poverty through supporting projects and organizations providing sustainable access to renewable energy, and mitigating climate change.
It is an independent non-profit foundation affiliated with Good Energies, a leading global investor in renewable energy and energy efficiency industries. Founded in 2001, the firm invests in solar, turbine-based renewables, green building technologies and other emerging areas within clean energy. Guided by the “3-P” principle of People-Planet-Profit, Good Energies looks for meaningful, long-term investments in companies with outstanding growth potential. The firm’s mission is to accelerate the global transition to a low-carbon economy. www.GoodEnergies.com/Foundation
Marcel Brenninkmeijer, Chairman of the Good Energies Foundation.
"SELCO India’s innovative business model has great potential to help developing areas meet their energy needs through sustainable solutions, as well as become a major resource in India’s renewable energy future. We are extremely pleased to support an organization that has helped so many and look forward to working with Dr. Hande and SELCO India as it expands the scope of its work."
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