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May 12, 2023

UConn student-led venture fund invests $25K in S. Windsor clean-tech company

Contributed (Back row) CTO and President of Enviro Power Michael Cocuzza, Dominick Zampino Jr, and Issac Duru. (Front row) CEO of Enviro Power Dan Nadav, Aria Penna, and Archisha Jaiswal.
By Greg Bordonaro

Hillside Ventures, a UConn student-led early-stage venture investment fund, has made a minority investment in a South Windsor-based clean energy company that has developed a super-efficient boiler.

Hillside Ventures has invested $25,000 in Enviro Power, developer of the “SmartWatt” boilers, which harness heat and steam that would otherwise be wasted to fuel a turbine generator that produces free electricity.

The company started production of its boilers in October, and they have already been installed in a student dormitory complex at Wesleyan University and in a 25-unit apartment building that was formerly a historic Simsbury Inn, among other places.

“We are excited to partner with Hillside Ventures in our mission to promote sustainable energy solutions," said Dan Nadav, CEO of Enviro Power. "This investment will help us  continue to grow our marketing and sales efforts and bring our SmartWatt Boiler technology to more commercial and residential buildings . Our goal is to make it easy for everyone to implement clean energy programs with an efficient and attainable solution. "

Aria Penna, sustainability lead at Hillside Ventures, said the deal represents the fund's first investment in a UConn alumni-founded company.

HBJ PHOTO | STEVE LASCHEVER
Business students who particpate in UConn’s Hillside Ventures program include (sitting, from left) Dhanush Kotumraju, Maya Fox, Aria Penna and (standing right) Joseph Roberts. John Elliott (standing right) is the dean of the UConn School of Business.

Hillside focuses its investments on companies that are in the sustainability, insurtech or edtech industries. It was founded with support from UConn alumni. 

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