A new private exchange began operating Wednesday, offering a fund-raising environment for cleantech startups.
GREENDAQ launched its website in advance of its forthcoming private exchange, which it claims is the world’s first global equity and commodities exchange created exclusively for the green sector.
"GREENDAQ was created to provide a missing mechanism in the marketplace. Our goal is to fund compelling–and qualified–innovative Green Companies while providing qualified investors’ access to the first global green centric exchange," Andrew McLean, CEO and Founder of GREENDAQ, said.
Companies will be vetted before they are listed, McLean said, and the exchange plans to list "new classes of commodities" it calls green oil, green energy and green lumber.
The first company listed will be a British maker of jatropha-based biofuels, Carbon Credited Farming Plc, according to Reuters.
McLean said he expects to have five companies listed in the next two months and 20 companies or green commodities listed in the exchange’s first 12 months.
The exchange is not open to the public, and investors must apply to become members. The exchange hopes to have 10,000 investment professionals registered by the end of its first year.
The minimum investment is expected to be about $100,000.
GREENDAQ is an Aruba Exempt Corporation. The exchange plans to generate revenue by charging companies for listings and charging fees for the execution of sales.
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