NewPath Energy Capital Team

NewPath Energy Capital's executive team brings together seasoned professionals that have expertise in sourcing, structuring, managing and monetizing investments as institutional fiduciaries of third party capital. The executive team collectively has 37 years of professional global experience with leading firms in private equity, investment banking and real asset development.


J Andrew Axel photoJ. Andrew Axel is the President of NewPath Energy Capital. Andy has over 20 years of experience in the capital markets, including experience managing public stock offerings, private placements of equity and debt, and advising both buyers and sellers in merger transactions. He currently serves as an Advisor to Unison Energy, a provider of natural-gas powered Combined Heat and Power solutions.

Andy has focused his career on investing in, and advising, companies that are pursuing disruptive and high growth technologies, including companies whose technologies improve or expand energy availability, conservation and efficiency.

Previously, he served as an Advisor to the Iowa Capital Investment Corporation, which managed a private equity fund of funds on behalf of the State of Iowa. Working as an investment banker in Silicon Valley during the 1990s, Andy helped finance over $2.0 billion in transactions.

Andy received a B.A from Dartmouth College.


J Andrew Axel photoDavid H. Kurzman is COO. Previously, David was a Portfolio Manager at the Leuthold Group focusing on the firm’s two CleanTech strategies: the Leuthold Global Clean Technology Fund and the Leuthold CleanTech Opportunity Portfolio. Prior to joining the Leuthold team, David was Managing Partner of Kurzman CleanTech Research, a private research and consulting firm, and managed a pool of private capital for high-net worth investors.

David has held a number of research positions in Clean Technology areas including Senior Vice President of the Clean Technology Research Group for Panel Intelligence, LLC, and sell-side analyst for both Needham & Co. and H.C. Wainwright & Co. David was also an Analyst at Value Line Inc. and the Weitz Funds, an Omaha-based mutual fund company.

David has been an invited speaker to investment audiences regarding Clean Technology topics and investment strategies, including the Silicon Valley Financial Planners Association (“FPA”), the Orlando FPA, and various university endowments. His work has been recognized by leading news channels, including CNBC, PBS’ Wall Street Week, Bloomberg News, Reuters, The New York Times, The Wall Street Journal, Barron’s Financial Weekly, Morningstar and others. David was named “Best On The Street” by The Wall Street Journal in 2003 for the area of Electronic Components & Equipment, was rated as a Zack’s All-Star Analyst in 2001 and 2002.

David has a B.A. from Grinnell College, and he completed additional classes in accounting at Drake University.