Profiled in last week's small business report in Crain's, Ardour Capital is a five-year-old investment bank that focuses exclusively on renewable energy and sustainable technology. Notwithstanding the persisting gloom on Wall Street (more on that in the context of green later this week), the firm expects revenues this year to top $10 million and double by 2009, up from $3.9 million in 2006. According to managing partner and co-founder Brian Greenstein, "[t]here's a recognition that this sector is going to be one of the ones that grow." Ardour's 25 staffers review companies across the green power sector and then distill the technologies down for potential investors. Since opening its doors, Ardour has helped raised over $1 billion for 30 companies; earlier this year, it worked with California-based eco-friendly printer Colorep, Inc. in securing a $24 million private investment.
