SANTA CLARA, Calif., - June 22, 2009 - Silicon Valley Bank, the premier commercial bank for companies in the technology, life science, venture capital and premium wine industries, was honored with a Green Business Award for cleantech innovation in the finance category by the San Francisco Business Times.
"SVB has a phenomenal track record in helping build companies. I've always been impressed with their agility and common-sense approach," said Conrad Burke, CEO of Innovalight, a Bay Area-based solar manufacturing company.
The San Francisco Business Times awarded Silicon Valley Bank for its work financing companies developing clean technologies. Silicon Valley Bank estimates it works with approximately half of all venture capital-backed cleantech companies and holds deposits for nearly 200 cleantech companies nationwide. The company manages more than $1 billion in cleantech client investments and offers cleantech firms a broad range of commercial banking products and services.
"Cleantech is an extension of our technology expertise," said Matt Maloney, head of Silicon Valley Bank's cleantech practice. "We bring our clients a deep understanding of technology, entrepreneurship and innovation, which means we're able to be more creative and responsive in helping entrepreneurs find solutions. Our objective is to work with innovators who are developing cleantech solutions and to be a part of an emerging market that, we believe, presents an opportunity for economic growth, technological leadership and environmental progress."
Silicon Valley Bank is widely recognized for its ability to develop innovative approaches to meet the unique financial needs of its clients. SVB's cleantech specialists help cleantech companies grow and succeed by providing loans, custom financial services, and sector expertise.
In addition to being one of the primary financial institutions available to venture capital-backed cleantech companies, SVB is working internally and with its clients to develop new, more environmentally sustainable ways of doing business. For example, SVB is encouraging its clients to transition to paperless, online banking and launching internal initiatives spanning its IT, Facilities, Operations and Marketing functions targeting recycling, low-impact printing and energy efficient business practices.
The San Francisco Business Times rewarded the Bay Area's greenest and cleanest at its annual awards ceremony on June 11, 2009. Winners of the Green Business Awards were chosen by a panel of Bay Area experts and were honored in 14 categories for clean tech innovation and progressive green business practices.
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for companies in the technology, life science, venture capital and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.