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USA: Nth Power raises second venture capital fund

Nth Power Technologies, Inc., a pioneer in the field of energy and power industry venture capital based in San Francisco, California, has raised $120.5 million from new and existing investors for its second venture capital fund. Investors in its $63 million first venture fund - ABB, Cinergy, Energy

East, Electricte de France, and Hydro Quebec - are participating in Fund II. They are joined by new strategic and financial investors, including Alliant Energy, Avistar, Ballentine Capital, Bank of America Capital, Central Hudson Gas and Electric, CBIC World Markets, First Energy Corp., Itochu International Inc., Lehman Brothers Venture Capital, Meridian Energy (New Zealand), NiSource Development, Norsk Hydro (Norway), PanCanadian Petroleum Ltd., and Pacific Venture Capital (a unit of PGE Corp.). Nth's investment focuses on distributed generation and storage; energy-related communications, information technology, and business services; power quality; and transmission and distribution automation.

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