Ex-Comverge CEO Joins El Dorado Ventures

Robert Chiste has joined El Dorado Ventures as an executive-in-residence, with a focus on the cleantech space. He is the former chairman, president and CEO of Comverge (Nasdaq: COMV), a provider of energy efficiency and demand management solutions for the utility, commercial and industrial markets.

PRESS RELEASE

El Dorado Ventures (EDV) today announced that Robert M. Chiste has joined the firm as an Executive-in-Residence (EIR). Chiste was most recently the Chairman, President and CEO of Comverge (NASDAQ: COMV), where he led the company’s successful 2007 IPO. Comverge serves the utility and commercial and industrial markets with energy efficiency and demand management solutions.

At El Dorado, Chiste will seek out new investment opportunities related to alternative energy sources and the smart grid.

Chiste was with Comverge from 2001 to 2009. Previously, he was a venture capitalist, corporate executive and start-up company entrepreneur. He formed the corporate venture group for Transco Energy Company (now Williams Co.) and was President and CEO of Allwaste, Inc., a public industrial services and energy company. Bob was a co-founder of TriActive, FuelQuest and iMark, Inc. Bob continues to serve as Chairman of TriActive.

“Bob brings a unique background combining venture capital, energy, cleantech and entrepreneurism,” said Scott Irwin, a general partner with EDV. “Bob will be an important member of our team as we expand our cleantech portfolio.”

“El Dorado is a leading Silicon Valley venture capital firm and a significant participant in the clean energy sector,” said Chiste. “They have a superior team of proven professionals and I look forward to working with them on smart grid and alternative energy supply solutions.”

About El Dorado Ventures

El Dorado Ventures (EDV) is a leading entrepreneur-focused, early-stage venture capital firm with over two decades of success. Entrepreneurs see EDV as a trusted investment partner who shares their vision and helps them succeed by providing ongoing strategic guidance and access to a wealth of industry contacts. With $750 million in capital under management, the firm invests across the information technology spectrum, from semiconductors and systems to communications, cleantech, software and services, targeting both consumers and the enterprise. El Dorado’s early-stage investments have included Compellent Technologies, Cyras Systems, EarthLink, Efficient Networks, Novellus and NuSpeed Internet Systems. Numerous EDV portfolio companies have gone public or been acquired by major technology companies including AT&T, Ciena, Cisco Systems, nVidia, Siemens, Texas Instruments and Yahoo. For more information, please visit www.eldorado.com.