Venture Capitalists Flock to Green Technology
It was bound to happen eventually . . .

Venture Capitalists Flock to Green Technology:

Companies producing environmentally friendly technologies are attracting more and more investment, according to a new report.

As the nation's energy crunch lingers on, small businesses in search of venture capital are finding it's a good time to be green.

The money invested in North American companies producing green technology rose 35% in 2005, to a total of $1.6 billion, according to a new report by the Cleantech Venture Network.

In the fourth quarter of 2005 alone, green technologies, or "cleantech," made up 10% of all North American venture capital investment, totaling $502 million -- an 18% increase from the previous quarter.

If you go back and look at the history of growth of emerging technology, like nanotechnology, cleantech is similar,%u201D said Craig Cuddeback, senior vice president of Cleantech Capital Group, an Ann Arbor, Mich.-based firm that organizes the Cleantech Venture Network. But cleantech is broader than that. All the major energy companies are playing in this space now.
- posted by Chuck Eesley @ 10:47 PM (0) comments

 
PMI Solar Power System Proves Green Technology Can Be Cost Effective
PMI Solar Power System Proves Green Technology Can Be Cost Effective: "Three years after installing the county's largest solar electric system, The PMI Group, Inc. (NYSE:PMI) has helped avoid the release of 107 tons of carbon dioxide into the atmosphere. Since its inception in 2003, the 97 kilowatt solar electric system has produced 337,316 kWh, the equivalent of 30 acres of forest saved or not driving nearly 270,000 miles.

The solar power system generates enough electricity to power nearly 100 homes 24 hours per day for the life of the system, which is approximately 30 years. 'The solar electric system is an illustration of PMI's commitment to enhancing life in the local community, as well as our commitment to quality and innovative technology,' said Donald P. Lofe, Jr., Executive Vice President and Chief Financial Officer. 'By demonstrating that environmentally friendly technology can be cost effective as well, we hope to serve as a model for other businesses.'

Over the next 25 years, the system will save an estimated $1.3 million in avoided electricity charges and 1,000 tons of carbon dioxide emissions, the equivalent of not driving 2.6 million miles or planting 300 acres of trees. In addition to generating clean electricity, PMI's solar system, the largest of its kind in Contra Costa County, has the added benefit of insulating the building, thereby reducing the cost of heating and air conditioning, while extending the life of the roof, where it is installed."
- posted by Chuck Eesley @ 10:43 PM (0) comments

 
MIT Enterprise Forum Panel on Clean Energy
April 5 Case: "Energy and Clean Technology:
Overcoming Obstacles to Commercial Success

The Panel:

Roger G. Little - CEO,
Spire Corporation
Scott A. Pearson - CEO, Protonex Technology Corporation
Andrew Perlman - CEO, GreatPoint Energy
Christopher Poirier - CEO, Coaltek, Inc.
The
Moderator:
Michael Bevan of DFJ Element
Did
you know that investors poured nearly a billion dollars into
'clean technology' companies in 2005? That they did, and here
are some of the reasons:

President
Bush said that we are 'addicted to oil' and demanded that
depend less on foreigners for it.
The U.S. government has earmarked more funds for new energy technologies, citing national security as the reason

Individual states are also earmarking funds for Clean Technology and developing incentives like renewable portfolio standards.

The public reads a lot about global climate change in the press almost daily and
makes its concerns known to our political leaders.

This 'perfect storm' of energy worries has helped create a robust energy and clean technology investment sector. But there's still no substitute for old fashioned, basic execution on your business plan on the path to success.

For our April case presentation, an All-Star panel of CEOs will discuss that basic execution as it applies to a number of technologies and market opportunities
including fuel cells, coal gasification; photovoltaics; and clean coal."
- posted by Chuck Eesley @ 6:25 PM (0) comments

 
Newswise | Carbon Dioxide Promises Alternative for Air Conditioners, Refrigerators
Newswise | Carbon Dioxide Promises Alternative for Air Conditioners, Refrigerators: "Engineers developing technologies that use environmentally friendly carbon dioxide as a refrigerant instead of conventional, synthetic global-warming and ozone-depleting chemicals will meet at Purdue University in mid-March to discuss the latest research.The conference will include talks about applications ranging from soft drink vending machines to portable air conditioners used by the U.S. Army for a variety of roles, such as cooling troops and electronic equipment. Talks also will cover the use of carbon dioxide to run 'heat pumps,' which operate like air conditioners in reverse, to warm swimming pools and homes, said Eckhard Groll, a Purdue professor of mechanical engineering who is organizing the conference.

Although carbon dioxide is a global-warming gas, conventional refrigerants, called hydrofluorocarbons, cause about 1,400 times more global warming than the same quantity of carbon dioxide. The tiny quantities of carbon dioxide that would be released from air conditioners would be insignificant compared to the huge amounts produced from burning fossil fuels for energy and transportation, Groll said."
- posted by Chuck Eesley @ 2:55 PM (0) comments

 
The Daily Times - www.delmarvanow.com - Salisbury, Md.
The Daily Times - www.delmarvanow.com - Salisbury, Md.: "It's generating electricity right there on the roof. There are no moving parts, no maintenance,' he said.Affordability an issue

But at more than $200 for a panel, and a cost of $10,000 to make it worthwhile, affordability remains an issue.Johnnie Miller has wanted to install solar panels on his Parsonsburg home and business since 1983 when he was trained in installation. Yet the panels were too expensive.They would have cost $53,000.It was a cost the Wicomico County Library undertook in 1980 when the facility was renovated. From that time on, 45 solar panels on the roof have provided the energy to heat all water used, said Tom Hehman, library director.Now, more than two decades later, Miller is ready. He's just waiting on the panels to arrive so he can install them at his electrical solutions business in Parsonsburg.'There's such a demand, manufacturers just can't meet it,' he said. 'If you call a manufacturer now, they're just going to blow you off.'

The Worcester County Library system has plans to build an environmentally friendly facility that will be about 90 percent green, which includes photocell sensors to create energy.But Maryland, Miller said, is still lagging behind the rest of the country, which is lagging behind countries such as Japan and Germany where solar panels are installed into all new homes.Even with decades of improvements in technology, Miller said he paid about $210 per module.'It's an expensive venture,' he said. Given time, the expense can be reduced, said Fred Davis, MEA director.As states step up with increased incentives, more people can afford to add solar panels.With more consumers, companies will need to step up to meet demand, which will bring in competition. Technology will improve and the prices should come down."
- posted by Chuck Eesley @ 2:54 PM (0) comments

 
The HooK: COVER- Blowin in the wind: Tilting with windmills in Highland County
The HooK: COVER- Blowin in the wind: Tilting with windmills in Highland County: "Virginia homeowners may not be ready for a windmill on every roof, but what about a string of electricity-generating turbines on a distant hilltop and the option to buy green power at affordable prices?

With a controversial wind farm planned for Highland County, 2006 promises to be a year of boom or bust for a power source that the Department of Energy calls today's 'most viable renewable energy.'
The extension of a federal tax credit and the jump in the cost of petroleum have given the industry a boost, but growth has also kicked up a funnel cloud of opposition to the energy source that critics deride for blighting bluffs and butchering birds and bats.

In Virginia, the state's first utility-scale wind farm, targeted for private land in scenic Highland County, 70 miles northwest of Charlottesville, continues to be mired in citizen opposition. In July, the county approved the application by landowner Henry T. McBride, owner of Highland New Wind Development LLC, to erect up to 19 turbines on scenic ridge-top land. The County stands to gain about $200,000 annually in tax revenue, but the board of supervisors has been sued, and opponents vow to fight on."
- posted by Chuck Eesley @ 2:50 PM (0) comments

 
MITEF : Ignite Clean Energy Winners
I've been selected as one of the Mentors for the Ignite Clean Energy Business Plan Competition. The teams range from water distillation, solar cells, biofuels, to hydropower and hydrogen production.

MITEF : Ignite Clean Energy Winners: "To spur entrepreneurial activities, the Energy SIG of the MIT Enterprise Forum of Cambridge and its event sponsors the Massachusetts Technology
Collaborative, The University of Massachusetts/Lowell%u2019s Commercial
Venture Development, Cummings Properties, Foley Hoag, Maniv Energy Capital,
Rich May Law, Mintz Levin and Constellation NewEnergy %u2013 are offering
a $125K business presentation competition. The three goals of the competition are to:
-Help new business leaders create a compelling story for raising funds from government, angel, and venture capital investors.

-Teach entrepreneurs superior presentation skills, and

-Encourage networking among participants and industry leaders,"
- posted by Chuck Eesley @ 12:05 PM (0) comments