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Non-profit

New Energy Nexus (CalCef Innovations)

Website:

www.newenergynexus.com/
Location:

Oakland, CA
Tax ID:

26-1339988
Tax-Exempt Status:

501(c)(3)

Budget (2021):

Revenue: $8,813,623
Expenses: $6,640,563
Assets: $15,783,035
Type:

Clean Energy Startup Funding Group
Formation:

2004
CEO:

Danny Kennedy
Incoming CEO:

Henri van Eeghen
Budget (2022):

Revenue: $7,571,267
Expenses: $6,295,095
Total Assets: $11,791,350 15

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New Energy Nexus (NEX) is an organization focused on accelerating environmentalism with energy development through investments in weather-dependent energy startups and entrepreneurs. It provides funds, accelerators, networking opportunities, and training. In 2023, NEX was selected to be the Climate Tech Startup Program partner for COP28, the annual United Nations climate change meeting. 1

Background

New Energy Nexus (NEX) is the business name for CalCEF (California Clean Energy Fund) located in Oakland, California. It is an organization that supports weather-dependent energy startups with training, funds, accelerators, and networks. Its initial focus was California, and it has since expanded with programs in New York, Thailand, the United Arab Emirates, the Philippines, Nigeria, Uganda, Indonesia, Vietnam, China, and India. 2 3

The NEX portfolio includes almost 1,200 startups and over 8,800 entrepreneurs, and it has made $94 million in grants, investments, and loans since 2016. 4

In 2023, the United Nations Framework Convention on Climate Change (UNFCCC) selected NEX as its Climate Tech Startup Program partner for COP28 (28th Conference of the Parties), 5 focused on accelerating climate startups and small businesses. 1

History

The California Clean Energy Fund (CalCEF) was formed in 2004 to invest in weather-dependent energy organizations and capabilities in California, funded by a $30 million public benefit investment fund created from a bankruptcy settlement of utility company PG&E. It invested early on in lighting innovator Bridgelux and electric car maker Tesla. 5 6

In 2006, it was the founding sponsor of the University of California, Davis Energy Efficiency Center. In 2008, it launched CalCEF Innovations and the CalCEF Angel Network to expand further into clean energy development investments. The Angel Network focuses on weather-dependent technology startups. 7 8

In 2016, the CalSEED program was started, funded by the California Energy Commission and administered by CalCEF, to fund early-stage weather-dependent energy entrepreneurs and researchers. 9

In 2016, CalCEF was renamed New Energy Nexus (NEX). Starting in 2017 NEX began expanding globally. 5

Projects

In 2019, the IKEA Foundation granted $10 million to NEX in Indonesia to educate and support weather-dependent energy entrepreneurs and startups on developing renewable energy in Indonesia. 10

In 2020, NEX partnered with the University of California and Lawrence Berkeley National Lab to develop the CalTestBed program, which provides weather-dependent energy entrepreneurs with access to UC’s testing facilities. It was funded by the California Energy Commission. 11

NEX’s Salton Sea Program in Imperial Valley, California is focused on developing the environment and supply chain capabilities around the lithium reserves in the Salton Sea to leverage the lithium for batteries. The Salton Sea region has one of the largest lithium reserves in the world. In 2023, the James Irvine Foundation funded a research project by NEX, the University of California Santa Cruz Institute for Social Transformation, and the UC Berkeley Labor Center on the opportunities in the Imperial Valley to develop these supply chains. 12 13

In 2023, NEX managed 36 programs globally associated with developing skills in new energy, new energy funding, and new energy networking. 14

Funding

New Energy Nexus’s 2022 revenues were reported as $7,571,267 and expenses as $6,295,095. 15 The NEX 2023 Global Impact Report shows 2023 total operating costs increasing to $15,239,096. 16

Its funders included BlueGreen Alliance Foundation, the Jeremy and Hannelore Grantham Environmental Trust, Lever for Change, the Solutions Project, the Energy Foundation, the New Venture Fund, the San Francisco Foundation, the California Community Foundation, Goldman Sachs Philanthropy Fund, Schwab Charitable Fund, ClimateWorks Foundation, Aspen Institute, and Silicon Valley Community Foundation. 17

NEX’s recent 2023 funders included Ford Foundation, the California Energy Commission, the Growald Climate Fund, the William and Flora Hewlett Foundation, IKEA Foundation, Oak Foundation ,the Biden administration Department of Commerce, the Biden administration Department of Energy, and the U.S. Agency for International Development. 18

Leadership

Danny Kennedy has been CEO of NEX since 2019. He is an entrepreneur and investor focused on climate and weather-dependent energy, helping to start several solar-energy companies including Sungevity, Mosaic, and Powerhive. In his early career he worked for Greenpeace. He was a board member of Confluence Philanthropy, a network of donors focused on left-of-center values. At the end of 2023 he announced that would be stepping out of the role of CEO in 2024. 19 20

Effect August 2024, Henri van Eeghen is set to replace Kennedy as CEO. He lives in the Netherlands. Previously he worked for Mercy Corps and was CEO of Synergos Institute, 21 an international philanthropy network focused on left-of-center issues founded by Peggy Dulany, daughter of David Rockefeller. 22

Hendrik Tiesinga was a co-founder and chief strategy officer of NEX. He left NEX in 2021 and founded innovation studio Climate Edge focused on developing new venture and startup systems. 23

The board chair is Janet Dalziell, a self-employed consultant who held several leadership roles at Greenpeace .24

Board members include Michael Gelobter, executive director of Yale Center for Environmental Justice; 25 Jon Foster, senior advisor at McKinsey and Company and former deputy director at the White House Office of Science and Technology Policy for the Clinton administration; 26 and Julie Blunden, a board member for several weather-dependent energy and battery companies and a prior CEO of ClimateWorks Foundation. 27 28

References

  1. “NEX COP28 Climate Tech Startup Accelerator.” COP28 UAE. Accessed July 18, 2024. https://www.cop28.com/en/nex
  2. [1] “Our Programs.” CalCEF Innovations dba New Energy Nexus Guidestar Profile. Accessed July 18, 2024. https://www.guidestar.org/profile/26-1339988
  3. “Local Solutions, Global Reach.” New Energy Nexus Global Impact Report 2023. Accessed July 19, 2024. https://www.newenergynexus.com/wp-content/uploads/2024/03/NEX_Global_Impact_Report_2023.pdf
  4. “Our Portfolio.” New Energy Nexus. Accessed July 18, 2024. https://www.newenergynexus.com/portfolio/
  5. “NEX Timeline.” New Energy Nexus – About us. Accessed July 18, 2024. https://www.newenergynexus.com/about/
  6. “Our History.” New Energy Nexus Global Impact Report 2023. Accessed July 18, 2024. https://www.newenergynexus.com/wp-content/uploads/2024/03/NEX_Global_Impact_Report_2023.pdf
  7. [1] “NEX Timeline.” New Energy Nexus – About us. Accessed July 18, 2024. https://www.newenergynexus.com/about/
  8. Jeff St. John. “Clean Energy Angel Fund Makes First Investments.” Green Tech Media. October 29, 2008. Accessed July 18, 2024. https://www.greentechmedia.com/articles/read/clean-energy-angel-fund-makes-first-investments-5088
  9. “About.” CalSEED. Accessed July 19, 2024. https://calseed.fund/about/
  10. “How our partnership with New Energy Nexus empowers renewable energy entrepreneurs in Indonesia.” IKEA Foundation. August 20, 2019. Accessed July 19, 2024. https://ikeafoundation.org/stories/how-our-partnership-with-new-energy-nexus-empowers-renewable-energy-entrepreneurs-in-indonesia/
  11. Glen Martin. “The California startups taking on climate change.” University of California. May 2, 2022. Accessed July 19, 2024. https://www.universityofcalifornia.edu/news/california-startups-taking-climate-change
  12. Joyce Lobeck. “20 Under 40: Bryan Vega.” Valley Women. March 15, 2024. Accessed July 19, 2024. https://www.ivpressonline.com/valleywomen/20-under-40-bryan-vega/article_5826cf98-cc4d-11ee-909d-07b7fcb80e77.html
  13. “New research reveals steps California must take to capture more jobs from lithium battery boom.” UC Santa Cruz. March 26, 2024. Accessed July 19, 2024. https://news.ucsc.edu/2024/03/lithium-battery-supply-chain-jobs-report.html
  14. “Program Spotlights.” New Energy Nexus Global Impact Report 2023. Accessed July 18, 2024. https://www.newenergynexus.com/wp-content/uploads/2024/03/NEX_Global_Impact_Report_2023.pdf
  15. CalCEF Innovations dba New Energy Nexus. Return of Organization Exempt From Income Tax. (Form 990 – Part I). 2022.
  16. “2023 Financials.” New Energy Nexus Global Impact Report 2023. Accessed July 18, 2024. https://www.newenergynexus.com/wp-content/uploads/2024/03/NEX_Global_Impact_Report_2023.pdf
  17. Propublica Nonprofit Explorer – CalCEF Innovations. Accessed July 18, 2024. https://projects.propublica.org/nonprofits/full_text_search?sort=best&form%5B%5D=IRS990ScheduleI&q=calcef+innovations&submit=Apply
  18. “Thank You 2023 Funders!” New Energy Nexus Global Impact Report 2023. Accessed July 18, 2024. https://www.newenergynexus.com/wp-content/uploads/2024/03/NEX_Global_Impact_Report_2023.pdf
  19. LinkedIn – Danny Kennedy. Accessed July 18, 2024. https://www.linkedin.com/in/kennedydanny/
  20. “Building on a decade of accelerating global clean energy entrepreneurs, New Energy Nexus launches search for CEO’s successor.” New Energy Nexus – News and stories. December 13, 2023. Accessed July 18, 2024. https://www.newenergynexus.com/news/building-on-a-decade-of-accelerating-global-clean-energy-entrepreneurs-new-energy-nexus-launches-search-for-ceos-successor/
  21. “New Energy Nexus announces Henri van Eeghen as new CEO.” New Energy Nexus – News and stories. May 29, 2024. Accessed July 18, 2024. https://www.newenergynexus.com/news/new-energy-nexus-announces-henri-van-eeghen-as-new-ceo/
  22. Synergos Global Philanthropists Circle. Synergos – Global Philanthropists Circle. Accessed July 21, 2024. https://syngs.info/gpc/synergos-gpc-membership-invitation.pdf
  23. LinkedIn – Hendrik Tiesinga. Accessed July 18, 2024. https://www.linkedin.com/in/hendrikjt/
  24. LinkedIn – Janet Dalziell. Accessed July 18, 2024. https://www.linkedin.com/in/janet-dalziell/details/experience/
  25. LinkedIn – Michael Gelobter. Accessed July 18, 2024. https://www.linkedin.com/in/gelobter/
  26. LinkedIn – Jon Foster. Accessed July 18, 2024. https://www.linkedin.com/in/jon-foster/
  27. LinkedIn – Julie Blunden. Accessed July 18, 2024. https://www.linkedin.com/in/julie-blunden-47b38b65/details/experience/
  28. “Board Members.” New Energy Nexus – About us. Accessed July 18, 2024. https://www.newenergynexus.com/about/team/
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: December 1, 2007

    • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2021 Dec Form 990 $8,813,623 $6,640,563 $15,783,035 $1,842,236 N $8,189,863 $493,312 $135,012 $318,049
    2020 Dec Form 990 $6,487,013 $5,127,883 $12,442,678 $1,004,781 N $5,081,930 $1,296,333 $108,750 $170,539 PDF
    2019 Dec Form 990 $2,655,581 $4,411,052 $10,744,198 $698,177 N $2,323,676 $260,001 $70,971 $164,108 PDF
    2018 Dec Form 990 $16,032,751 $3,020,727 $13,743,521 $1,914,571 N $15,977,839 $41,700 $377 $142,881 PDF
    2017 Dec Form 990 $1,181,125 $1,285,925 $723,221 $1,906,295 N $1,167,589 $13,294 $242 $148,316 PDF
    2016 Dec Form 990 $411,974 $1,259,521 $299,548 $1,377,822 N $410,598 $1,200 $176 $90,861 PDF
    2015 Dec Form 990EZ $100,201 $251,377 $220,767 $451,494 $0 $0 $0 $0 PDF
    2014 Dec Form 990EZ $45,062 $335,245 $190,945 $270,496 $0 $0 $0 $0 PDF
    2013 Dec Form 990 $794,465 $682,745 $268,652 $58,020 N $792,621 $0 $1,844 $179,648 PDF
    2012 Dec Form 990 $408,479 $796,050 $367,537 $268,625 N $408,000 $0 $479 $182,529 PDF
    2011 Dec Form 990 $969,562 $475,344 $510,060 $23,578 N $968,600 $0 $962 $172,144 PDF
    2010 Dec Form 990EZ $30,554 $339,387 $11,293 $19,029 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    New Energy Nexus (CalCef Innovations)

    436 14TH STREET #1220
    Oakland, CA 94612