Solar energy innovators will be able to compete for $12m in funding released by the US government to further the advancement of the sector.

US Energy Secretary Steven Chu announced over $12m to speed solar energy innovation from the lab to the marketplace through the Energy Department’s SunShot Incubator programme.

‘Investments in American energy and manufacturing are critical building blocks for an American economy built to last,’ said Chu. ‘The SunShot Incubator programme fosters the innovative small businesses that will rapidly bring technological advances to market and pioneer a new era in American energy.’

Since its inception in 2001, the DOE has invested $60m through the incubator scheme with more than 40 companies participating.

Last month, the US Department of Energy launched a funding opportunity in the concentrated solar power space to work alongside efforts underway in the SunShot initiative.

Copyright © 2012 NewNet

An energy crop company has reduced its price range for its upcoming listing in the US as it looks to raise $85m.

Ceres, which produces seeds for crops that are then used to make biofuels, will release five million shares on to the open market at between $16 and $17 apiece.

This figure is down about 26 per cent on plans made last month when it said it hoped to garner $97.8m based on a price of £22 a share.

Ceres’ technology uses a combination of advanced plant breeding and biotechnology to develop new crops.

In its original prospectus documents, Ceres said its competitive strengths lie in the fact it has commercially available products including sweet sorghum, switchgrass and high biomass sorghum and that it has fostered innovative research and development programmes.

The company first announced its IPO plans in May 2011 when it set a target raise of $100m.

Copyright © 2012 NewNet

UK private equity firm Clyde Blowers has completed acquisition of wind turbine gear manufacturer Moventas Wind and industrial gear producer Moventas Santasalo from the bankrupt estate of Moventas Oy, for an undisclosed price.

Clyde Blowers signed the share purchase agreement in November last year and the relevant competition authorities, creditor bodies and the local district court have now granted approval for the transaction.

Jukka Jäämaa, president and CEO of the Moventas companies, said, ‘The closing took slightly longer than originally expected, but we are pleased that we can now turn our focus on development of Moventas with our new owner. Our future outlook is promising.’

Jim McColl, chairman and chief executive of Clyde Blowers, added, ‘We are delighted to have completed this acquisition and can now start to build Moventas into a leading global gear systems supplier to the wind and other industrial markets. Moventas has vast untapped potential, extensive manufacturing and product capability to serve its markets, and a dedicated workforce who have remained loyal to the business during last year’s uncertainty. We look forward to a very bright future and working closely with the team at Moventas to achieve our growth ambitions.’

Clyde Blowers recently closed a £420m fund, a NewNet profile of the company can be found here.

Copyright © 2012 NewNet

centrotherm has been selected as the provider for the engineering and technology concept for a large-scale polysilicon project in Saudi Arabia by IDEA Polysilicon Company.

The factory will have an annual capacity of 10,000 tonnes and will be situated in the Saudi Arabian city of Yanbu.

Marwan Al Ghurair, CEO of IDEA Polysilicon Company, said, ‘We are delighted to have been able to attract a renowned partner such as centrotherm with such expertise along the solar value chain for our basic engineering and technology concept.’

The company said the Middle Eastern region is an interesting potential growth market for it, as it is focused on internationalisation with 90 per cent of its turnover outside of Germany.

‘There is tremendous potential for solar energy in Saudi Arabia and the other states of the MENA region, which enjoy a lot of sunshine, as solar power is extremely cost effective compared with other energy sources,’ said Robert Hartung, CEO and management board chairman of centrotherm photovoltaics.

Copyright © 2012 NewNet

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A Middle Eastern investment firm will reportedly look to source Chinese fuel cell and water treatment deals over the coming months.

According to a report in the China Daily said Masdar Capital, the investment vehicle owned by Abu Dhabi, is seeking investment opportunities for its $520m Masdar Clean Tech Fund.

Parent firm Masdar has been very active of late in the renewable energy space and earlier this year signed a one-year research agreement with German electronics giant Siemens to accelerate the use of photovoltaic panels in the Middle East, as well as a deal with the Development Bank of Japan to invest in solar and wind projects.

In July 2011, Masdar Capital head of investments Alex O’Cinneide told NewNet that it was now evaluating potential companies to commit capital from its second fund and wanted to give a particular focus to Asia.

Copyright © 2012 NewNet

A major India-based finance house is reportedly planning to double its investment into renewable energy projects over the next year.

Power Finance Corporation, which is India’s largest state lender to power generators, said it has recognised that investment into coal plants has become riskier and as such plans to move into the renewables space.

According to a report in Bloomberg, loans issued by the group to the wind and solar sector will increase to $305m.

Investments in the solar sector have shot up rapidly across India, spurred on by the country’s National Solar Mission policy.

In an interview with Bloomberg, Chairman Satnam Singh said, ‘Given that fossil fuel costs have gone up, investments in wind and solar are surging. We’re not afraid to go at renewable in a big way where lending happens much faster, within six months.’

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US power conversion specialist Satcon has formed a partnership with China’s Great Wall Computer Company to supply inverters to the Chinese solar market.

The agreement includes a five-year manufacturing agreement, as well as a sales, marketing and distribution relationship. Under terms of the deal, Great Wall has initially agreed to purchase 60MW of Satcon’s PowerGate Plus solutions, expected to be delivered in April.

Steve Rhoades, CEO of Satcon, said, ‘As the worldwide solar market continues to develop, the focus on both inverter performance and costs have intensified. The Great Wall partnership significantly strengthens our company, accelerates our cost reduction efforts and opens up a sizeable opportunity above and beyond our recent success in the China market.’

Zhou Gengshen, CEO of Great Wall, added, ‘Great Wall is highly committed to the promise of solar photovoltaic as a source of clean renewable energy. Satcon is the world’s leading brand in utility-scale solar technologies and this agreement creates a strong, integrated global alliance that will deliver advanced technologies at a cost that makes solar a viable energy source now and for years to come.’

Copyright © 2012 NewNet

Hawaii-based solar company the Hoku Corporation has secured an extension of the maturity date on two loans worth $50m provided by China’s Tianwei New Energy Holdings.

Tianwei had granted two loans to the US company in the first calendar quarter of 2010 through the China Construction Bank, which acted as loan agent. The term of each loan was two years.

With approval from the Chinese State Administration of Foreign Exchange, the maturity date of the loans has been extended by one year to the first calendar quarter of 2013. Tianwei and the China Construction Bank have permission to expand this for another year after 2013.

Scott Paul, CEO of the Hoku Corporation, said, ‘The extension of the loans reaffirms Tianwei’s continuing commitment to Hoku’s long-term success. Although the extension does not provide Hoku with any additional cash, it does allow us to better manage our liquidity, as we would otherwise be obligated to pay $50m to Tianwei this quarter. As we source additional funds, our first priority is to pay our polysilicon plant vendors, and to continue with plant commissioning activities.’

Copyright © 2012 NewNet

US power conversion specialist Satcon has been contracted to supply inverters for a 1.65MW photovoltaic (PV) array being installed by Bella Energy on the roof of the Salt Palace Convention Center in Salt Lake City, Utah.

The system is one of the largest of its kind in the US and the biggest rooftop PV facility in the state of Utah. It is expected to be operational in May.

Peter Corroon, Mayor of Salt Lake County, said, ‘Salt Lake County is committed to reducing its energy usage through conservation and the use of renewable technology at its facilities. This spring we look forward to producing a significant portion of the Palace Convention Center’s electrical power with this solar array. We are proud to offer our future convention guests clean power from the largest solar rooftop installation in Utah and one of the largest in the country. This project was made possible by an unprecedented private-public partnership and serves as an example of the significant and untapped solar potential in the state of Utah.’

Andrew McKenna, vice president of Bella Energy, added, ‘This project took a lot of hard work, but our team assembled a package backed by the highest efficiency and most reliable inverters by Solectria Renewables. Bella Energy prides itself on providing the highest quality solar equipment and solutions that power some of the large arrays across the US.’

Copyright © 2012 NewNet

A US start-up has told NewNet that it will look to secure strategic investment from either the cleantech private equity sector or a corporate partner.

Cyclone Power Technologies, which is in the process of prototyping an ‘external combustion’ transport engine that can run on any bio or traditional fuel type, said it will look to secure a capital injection before undertaking an initial public offering.

Chris Nelson, president of Cyclone Power Technologies, said, ‘We are looking at getting strategic investment this year. We are looking not only to clean energy funds that understand the development cycles and what it takes to bring a new technology to market but also at corporate strategic partners – big household names that can come in, invest money and also integrate our technology into our current product streams.’

He added, ‘We are looking at that and we are potentially looking at a traditional IPO towards the end of the year.’

The company’s principle technology is based on a Rankine Cycle heat regenerative combustion engine.

Copyright © 2012 NewNet

German company SolarWorld has now purchased 95 per cent of shares in Solarparc and will look to integrate the company into the SolarWorld group.

The management board at SolarWorld will propose the acquisition of remaining share capital at the next annual general meeting.

It intends to delist Solarparc and convert it to a limited company as a 100 per cent owned subsidiary of SolarWorld.

Frank Asbeck, CEO of SolarWorld, said, ‘Our objective is to build more turnkey solar parks outside of Germany in lucrative markets such as India and South Africa.’

Copyright © 2012 NewNet

Chinese wind energy company Ming Yang has won an engineering, procurement and construction (EPC) contract with W. Power and A1 Development to build a 125MW wind farm in Bulgaria.

It is currently working on a 4.5MW pilot project in Somovit, which is set to commence commercial operation in the second half of the year.

Ming Yang is hoping to generate new business in Europe through its relationship with international project developer W. Power.

Chuanwei Zhang, chairman and CEO of Ming Yang, said, ‘This represents a significant milestone of Ming Yang’s overseas market development, marking an important step in extending our footprint in mainstream European markets. Our strategic partnership with W. Power is a strong endorsement of our capabilities and innovative business models for overseas markets, which are designed to provide total EPC solutions by combining equipment, technology, capital and financing support.’

He added, ‘With our robust advantages in cost, technology and total EPC solution capabilities, we believe that we are well-positioned to gain further traction in overseas markets, continue to build and strengthen our presence in other prospective overseas markets including East Europe, South Asia, South Africa and South America.’

Copyright © 2012 NewNet

US residential photovoltaic (PV) specialist Vivint Solar has partnered with Clean Power Finance to offer new financing options for PV customers and to expand into more markets throughout the US.

The partnership will allow Vivint to enlarge its existing financing and maintenance options for homeowners, which include free installation and locking in electricity rates for 25 years.

Tanguy Serra, president of Vivint, said, ‘This partnership supports Vivint’s commitment to provide customers with world-class service. Clean Power Finance’s track record in consumer solar financing is unprecedented and it was important to us that their transparent, non-exclusive model supported our brand and business. Collaborations like this will help fuel Vivint’s continued success in the growing residential solar market.’

Nat Kreamer, CEO of Clean Power Finance, added, ‘Clean Power Finance is committed to expanding the residential solar market by making competitive, white label finance products available to top sales and service providers like Vivint Solar. This partnership will help many more homeowners across the US realise the economic benefits of clean, renewable solar energy.’

Copyright © 2012 NewNet

A US-based solar installer has received government funding and is actively seeking building owners interested in installing photovoltaic energy systems.

Bright Power was one of a number of solar installers awarded access to a $30m fund provided by the New York State Energy Research and Development Authority and the state Public Service Commission to fund large-scale solar projects in New York City and the lower Hudson Valley.

It said it is now looking for building owners interested in installing the systems and said each will earn a robust return on investment.

Bright Power was selected to access the funds in January 2012 by a competitive application process. These are part of the RPS Customer-Sited Tier Regional Program, which will offer $150m over the course of five years to encourage large businesses to access incentives for renewable energy.

Copyright © 2012 NewNet

A US-based solar investor has revealed that it is looking for long-term contract bids for solar renewable energy certificates.

According to a request for proposals logged with the US Department of Energy, Innovative Solar Systems is seeking long-term contract bids for 1,100MWh blocks of North Carolina Solar Renewable Energy Certificates.

The company offers a suite of solar solutions from initial feasibility studies to turnkey installations, and also provides financing for new solar system as well as showing clients how maximum tax credits and incentives can be garnered.

The state’s renewable energy activities have spanned the varying technologies in recent months with a number of utilities issuing request for proposals for solar energy credits.

Among those that have said they are looking for credits is Duke Energy and Progress Energy Carolinas.

Copyright © 2012 NewNet

The US government has issued a request for proposals (RFP) as it seeks to improve its military’s energy management capabilities.

The Department of Defense (DoD) is seeking proposals for demonstrations of energy technologies, including on-site distributed generation.

Through the Environmental Security Technology Certification Program the DoD has launched a formal RFP with funding to be awarded in fiscal year 2013.

Federal organisations, universities and private companies can apply for funding with pre-proposals due in 29 March.

It said it is looking to deploy cost-effective on-site distributed generation and needs integrated energy management technologies. In addition, it is looking for advanced building energy management and control solutions.

The US military is both a major energy consumer and early adopter of green technologies. A recent study found that at four California US Military bases alone more than 7GW of solar power could be deployed.

Copyright © 2012 NewNet

The government of Quebec in Canada is set to give a C$27m ($27m) boost to the province’s first waste-to-energy facility being developed by a joint venture between Enerkem and GreenField Ethanol.

The plant will be located near Montreal in Varennes and will utilise Enerkem technology to convert non-recyclable municipal solid waste into biofuels.

Annual production capacity at the facility will be around 38 million litres.

Vincent Chornet, president and CEO of Enerkem, said, ‘By producing liquid transportation fuel from non-recyclable waste, this facility opens the door to the emergence of a new energy sector and will allow for local sustainable management of our waste materials. Located on the site of Ethanol GreenField’s current plant, this project will represent one of the first integrations between an existing, first generation ethanol plant and a new cellulosic ethanol plant.’

Jean Roberge, general manager of GreenField Ethanol Québec, added, ‘The construction of this innovative plant on our current site marks the beginning of our transition to an integrated biorefinery in Varennes. We are pleased to partner with Enerkem and integrate their technology to build Quebec’s first full-scale commercial cellulosic ethanol plant. The use of waste materials, that is made possible with Enerkem’s technology, complements GreenField Ethanol [research and development] efforts with other types of biomass.’

Copyright © 2012 NewNet

Global cleantech developer Intelligent Energy has formed a joint venture with Japanese car giant Suzuki to develop and produce air-cooled fuel cell systems for a range of industrial sectors.

Through this agreement, Suzuki will have a non-exclusive license agreement allowing it utilise Intelligent’s fuel cell technology in its vehicles.

The new venture will be called the Smile FC System Corporation, each company will hold a 50 per cent stake.

It will be led by Osamu Honda, executive vice president and representative director for Suzuki, who will assume the role of president of Smile.

It will be initially headquartered just south of Tokyo in Yokohama.

Honda said, ‘Suzuki Motor Corporation has been developing fuel cell vehicles with Intelligent Energy since 2006, and this successful relationship has led to the formation of Smile FC System Corporation. I believe that we can accelerate the commercialisation of fuel cell vehicles through this joint venture with Intelligent Energy.’

Henri Winand, chief executive of Intelligent Energy, added, ‘Combining Intelligent Energy’s market-leading fuel cell system technology with Suzuki’s mass production capabilities and supply chain excellence will accelerate the deployment, long term scalability and applicability of fuel cells for the next generation of eco cars, and other market segments. This non-exclusive agreement with the Suzuki Motor Corporation also provides further validation of our ‘design once, deploy many times’ proprietary technology and mutually beneficial partnering business model.’

Copyright © 2012 NewNet

The majority of assets owned by bankrupt US energy storage developer Beacon Power have been acquired by private equity firm Rockland Capital, for a combination of cash and a promissory note totalling $30.5m.

In addition, Rockland will provide further guarantees and funding obligations to the US Department of Energy (a substantial backer of Beacon) worth $6.6m. Rockland will obtain the company’s 20MW flywheel energy storage plant in Stephentown, New York, as well as other assets including intellectually property of the bankrupt organisation.

Rockland has indicated that it intends to provide the necessary equity capital to develop a second 20MW flywheel regulation plant in Pennsylvania.

Scott Harlan, managing partner for Rockland Capital, said, ‘We were attracted to Beacon Power because of its effective fast-response, grid-connected energy storage technology and its successful experience applying this technology as a frequency regulation resource in Stephentown. With the implementation later this year of FERC-mandated pay-for-performance compensation for balancing services provided to the grid, both the Stephentown plant and the one we plan to build in Pennsylvania will realise much improved revenue. We’re pleased to make it possible for this company and its talented team to continue to innovate and grow, and to provide a runway to facilitate a path to commercial success.’

Bill Capp, president and CEO of Beacon, added, ‘Rockland Capital is a well-capitalised company that has an excellent track record of successfully identifying undervalued electric power generating assets and applying its knowledge of the business and the capital necessary to develop the full potential of those assets. They recognised early on that Beacon was one such opportunity and our relationship has been positive and productive throughout their evaluation process. We’re grateful for their commitment to support Beacon and we look forward to working together and achieving our commercial objectives.’

Copyright © 2012 NewNet

European photovoltaic (PV) manufacturers must specialise their offerings if they are to withstand competition from Asia, according to an expert at one German solar producer.

Makers of PV panels in Europe and the US are finding themselves squeezed out of the market by cheaper modules from Asia, combined with falling demand in some of the traditionally biggest solar markets such as Germany and Spain.

One company that has had problems is Germany’s Solon, which was forced into a financial restructuring last year following insolvency issues. It has decided to focus efforts on a more specialised offer and, earlier this year, partnered with roof-manufacturer Bauder to produce an integrated PV roofing solution.

Michael Wittner, director of the newly-formed industrial and rooftop segment at Solon, spoke to NewNet to explain the company strategy for developing the rooftop market.

Wittner said, ‘We have tried in the past to offer our modules for the rooftop sector and found that they are too expensive, so we developed an integrated system together with Bauder for the flat-roof market. The roofing material manufacturers are really interested in systems that don’t hurt their material, if you put an aluminium sub-structure on a tile roof, you will cut the roof in five or six years; you will destroy it.

‘Bauder was the perfect partner for us because they have a really big sales power in Germany, a market share of round 50 per cent and a big sales team.’

Solon felt that only by offering a customised solution that addresses a particular need could they survive as a manufacturer of PV. The idea behind the Bauder deal is not that it will undercut competitors, but that it will produce a high-quality product for the industrial rooftop market that will last.

For Europe’s surviving PV producers, finding a specific need could help them survive in the increasingly competitive and crowded solar marketplace.

Wittner said, ‘We can survive in some niche markets. Solon is concentrating on markets such as solutions for industrial rooftops. It will be really, really difficult to stay in competition with standard production models. A market where the customer wants high-quality and is able to pay a high-price will be ok. But in the standard market if they want to buy a cheap module with a 25-year guarantee they can buy an Asian module. It will be very hard for the next year for companies if they only focus on standard modules.’

To target the rooftop market, Solon has subsidiaries and personnel all over the world. But interestingly the company feels the European market is big enough to provide early growth for the Wittner’s new business unit. The partnership with Bauder maybe the catalyst it needs to save at least some PV manufacturing in Europe.

Copyright © 2012 NewNet

Spain’s future renewable energy installations may be decided via an auction process going forward after the government recently decided to put a temporary halt to feed-in tariff support.

According to a report in Bloomberg, would-be developers may have to bid for the right to carry out the project and in turn, receive any financial support that goes in hand with that.

At the beginning of this month, the Spanish government decided to put a stop to the subsidies that the green power sector currently receives. It was initially reported that a halt to the FIT was temporary but the recent report in Bloomberg suggests otherwise.

Spain was one of the early adopters of the FIT model, which resulted in one of the most active renewable energy markets anywhere in the world over recent years.

The move towards a bidding system would shake-up the country’s cleantech efforts and may result in increased local competition.

Copyright © 2012 NewNet

An international research and development organisation has begun its fourth funding cycle and will look to give cash injections to renewable energy or energy efficiency project that are promoting US-Israeli co-operation.

BIRD Energy, which is a joint Israel-US Binational Industrial Research and Development group, said it is now seeking project proposals that have a focus on green energy.

A statement released by BIRD said that to be considered, a project proposal must include research and development cooperation between a company and a university or research institution, which one entity based in the US and another in Israel.

It said the proposal should have significant commercial potential and the outcome should lead to commercialisation.

Included within it focus areas are solar power, alternative fuels, smart grid, wind energy and advanced vehicle technologies.

The funding is for a maximum of $1m per project, with the conditional grant to cover half of all research and development costs.

Eitan Yudilevich, executive director at the BIRD Foundation, previously told NewNet that its funding schemes aim to reduce project risk.

‘The BIRD Foundation focuses on companies as opposed to academic institutional partnerships and tends to focus on later-stage companies, but also invests in many young companies.

‘We provide funding for up to 50 per cent of the total project cost, limited to $1m, and often act as a catalyst for partnerships between clean technology companies in the US and Israel. BIRD Foundation’s portfolio companies typically involve a partnership between a younger Israeli company with a more mature US company that has a footing in the market.’

Copyright © 2012 NewNet

US biofuel and biomass producer Enviva has been contracted by E.ON to supply 240,000 tonnes of wood pellet per year as part of a multi-year contract.

The length of the deal is unspecified and delivery of the pellets will commence at the start of next year. Enviva will supply the biomass from its facilities in the south-east of the US.

John Keppler, chairman and CEO of Enviva, said, ‘Demand for clean, renewable resources like our sustainably produced wood pellets continues to grow as energy generators invest in alternatives to traditional fossil fuels. Our partnership with E.ON reinforces the economic and environmental benefits achievable from renewable biomass resources in energy production.’

Jan Groeneveld, manager of biomass sourcing at E.ON, added, ‘Strong agreements with companies like Enviva that are focused on growing biomass supply and share our views on the importance of promoting sustainability are essential for us to invest in biomass generation. Biomass is one of the lowest-cost renewable solutions available and is a key part of helping us ensure that the lights stay on at a price that is affordable while helping to protect the climate.’

Copyright © 2012 NewNet

The US Department of Agriculture (DOA) has awarded $50m to two programmes designed to encourage the use of biomass and the production of biofuel.

The Repowering Assistance initiative will provide around $25m for refineries that were in operation on or before 18 June 2008. a financial incentive will try to encourage these facilities to use biomass instead of fossil fuels.

A further $25m will be available to make payment to biofuel producers who expect to manufacture eligible advanced biofuels at any time during fiscal 2012.

Tom Vilsack, Agriculture Secretary, said, ‘President Obama has laid out a new era for American energy – an economy fuelled by home-grown and alternative energy sources that will be designed and produced by American workers. These programmes support that vision by helping refineries use renewable biomass as a replacement fuel source for fossil fuels and supporting advanced biofuel producers as they expand production.’

Copyright © 2012 NewNet

A community-cooperative in Yorkshire, North East England, has awarded a JN Bentley a £450,000 contract to build a hydroelectric system on the River Esk.

Local organisation Esk Energy worked with the Co-operative Enterprise Hub to launch a community share issue last year to pay for the new system.

Construction is expected to commence in April, with operation scheduled for the middle of this year. The single-turbine solution is expected to produce around 200,000kWh annually.

Michael Fairclough, Co-operative’s head of community and cooperative investment, said, ‘The co-operative business model gives people a say in how services are delivered and it is a model that is being increasingly adopted. As more and more people rediscover the benefits of self-help and mutual ownership, the co-operative alternative will, without doubt, play an increasing part in fostering future enterprise – contributing to the rebuilding of a more balanced and sustainable UK economy.’

Colin Mather, chair of the Esk Valley Community Energy Group, added, ‘After four years of planning, obtaining permissions and fundraising, the final design stage has now commenced and we’d like to thank all those who have helped us to put the pieces of the jigsaw together and reach this remarkable milestone – our shareholders, The Co-operative Enterprise Hub, North York Moors National Park Authority, North Yorkshire County Council, CO2Sense, Key Fund and, Naturesave are amongst those who have helped to bring this project to life.’

Copyright © 2012 NewNet

A Canadian waste-to-energy specialist has filed a preliminary prospectus to undertake an initial public offering and raise $125m in common stock.

Enerkem, which is based in Montreal, has filed an F-1 document with the US Securities and Exchange Commission in the second alternative fuels company that has revealed its intention to list this year.

Enerkem’s technology uses municipal solid waste, which it expects to receive payment to take, to produce cellulosic ethanol, a second generation biofuel.

It is still in its development phase and as such has not yet generated any revenue from the sale of its products but it did recently secure an $80m loan guarantee from the US Department of Agriculture.

Within its prospectus document, it cites the Renewable Fuel Standards Program – which mandates that 16 billion gallons per year of cellulosic biofuels will be blended into the national transportation fuel supply by 2022 – as a major driver of its business model.

On 19 January, the largest producer of biodiesel in the US, Renewable Energy Group, took to the public markets but only raised $72m, about two thirds of its target.

Copyright © 2012 NewNet

Austrian organisation the Green Building Group has acquired a majority stake in Slovenian prefabricated house manufacturer Lumar.

Under terms of the deal, Lumar’s founding owners will take a stake in the Green Building Group and Lumar will continue to maintain its brand and production facility.

The Green Building Group was established in 2011 with the purchase of the Hanlo Group and HAG, the company aims to consolidate European manufacturers of energy efficient prefabricated houses through acquisitions.

Milan Lukic, co-founder of Lumar, said, ‘The integration of Lumar into Green Building Group is an exciting opportunity to broaden the company’s geographic reach and accelerate its growth with a strong partner.’

Thomas Scriven, member of the Green Building Group’s board of directors, added, ‘The acquisition of Lumar is an important step in our buy-and-build strategy to consolidate environmentally friendly prefabricated housing companies under the umbrella of the Green Building Group. Lumar has an excellent reputation and expands the Green Building Group’s product portfolio.’

Copyright © 2012 NewNet

The BC Bioenergy Network, a provincially-funded organisation supporting bioenergy development in British Columbia, Canada, has awarded C$1.5m ($1.5m) to Fraser Richmond Soil and Fibre to establish a waste-to-energy demonstration system.

The project will see the establishment of an ‘energy garden’, harvesting 27,000 tonnes of food and garden organic waste and converting it to renewable energy.

The funding will be split into two parts; C$1m ($1m) will be used towards the commercial demonstration of a high solids anaerobic digestion (HSAD) plant and $500,000 ($501,000) towards acquiring a pilot-scale, mobile HSAD testing unit.

The Canadian government has also invested C$4m ($4m) into this project through its clean energy fund.

Michael Weedon, executive director of the BC Bioenergy Network, said, ‘This first demonstration in British Columbia of the innovative HSAD technology is an all around winner: it solves a waste disposal problem, generates value added clean renewable energy in support of the province’s renewable energy goals, and creates green sector jobs right here in the Lower Mainland. We are very pleased to partner with a committed renewable energy leader like Fraser Richmond Soil and Fibre and Harvest Power, and work with them to demonstrate innovative technologies that hold great promise for application across British Columbia and North America.’

Greg Moore, board chair of the Metro Vancouver, added, ‘About 40 per cent of all the solid waste currently disposed of, from homes and businesses in this region, is made up of organic materials such as food scraps, yard trimmings and soiled paper. That’s a resource that should be recycled as a soil amendment or used to generate energy. If we bury organic materials in landfills, they generate methane, a powerful greenhouse gas.’

Copyright © 2012 NewNet

The US division of E.ON Climate & Renewables (EC&R) has secured $122.2m institutional equity financing from JP Morgan and Wells Fargo in exchange for a partial interest in the recently completed Settlers Trail wind farm.

The 150MW facility is located in Illinois and consists of 94 General Electric turbines.

Verena Volpert, senior vice president of finance for E.ON, said, ‘EC&R constantly looks to determine the most beneficial economic structures best suited for its projects. For this project, teaming with JP Morgan and Wells Fargo made the most sense.’

Steve Trenholm, CEO of EC&R North America, added, ‘Wind farms generate clean, affordable, homegrown electricity, creating jobs, providing an economic shot in the arm to farmers, ranchers, and rural communities across America. JP Morgan and Wells Fargo were natural partners due to their leadership and experience in the tax equity market.’

Copyright © 2012 NewNet

A US city is seeking proposals from qualified investors to install and operate community-owned photovoltaic (PV) solar arrays.

The city of Tacoma in Washington said it is looking for proposals from qualified individuals and organisations to administer potential projects to install a number of PV installations.

The facilities it is looking to deploy renewable energy projects at the Tacoma Solid Waste Landfill, Police Fleet Management Center, the Kandle Park Police Substation and the Norpoint Police station.

Tacoma is a mid-scale port city located on the US positioned on the Puget Sound. In mid-2011, local utility Puget Sound Energy began the construction of the mammoth 343MW Lower Snake River Wind project in south-east Washington’s Garfield County, which is due to be complete in the coming months.

Copyright © 2012 NewNet

This week has been notably active in the cleantech private equity and venture capital space, with a number of start-ups receiving welcome cash injections.

The deals announced over the past few days bucked a trend identified by Ernst & Young this week, which revealed US venture capital investment to be down across 2011 by 4.5 per cent.

Kicking off deals was the Series D financing closed by LED manufacturer Relume Technologies with investment led by Beringea.

The company, which also has smart grid control systems for outdoor lighting applications, also received investment from California-based Western Technology Investment, and other unnamed parties.

Making Relume increasingly attractive is the growth it has witnessed over the past year, which has seen it up sales and launch new products.

Crawford Lipsey, CEO for Relume, said, ‘These funds will allow us to build up our sales and manufacturing infrastructure and further expand our team.’

While energy efficiency proves a private equity favourite in the US on both sides of the Atlantic renewable energy generation-focused businesses and projects are still invoking investor confidence.

Cambridge, UK-based solar and semiconductor technology specialist TeraView has secured $5.5m of financing from a consortium led by New Hill Management and Full Circle Investments, which are both based in the US.

Turquoise International invested on behalf of the UK Low Carbon Innovation Fund (LCIF), based at the University of East Anglia.

Back in the US private equity firm Capital Dynamics invested 5.7MW this week in a 5.7MW project.

The facility is expected to become one of the largest solar energy plants in the New England states and will sell power to three investment-grade rated municipal entities.

Karl Olsoni, managing director in the firm’s clean energy and infrastructure team, said, ‘We are pleased with this latest investment in our clean infrastructure programme. The solar energy project has strong community support and will make a valuable contribution to the production of local energy in Massachusetts.’

In the corporate venture space, BASF Venture Capital has participated in a $27m financing round for green materials company Solidia Technologies.

The firm contributed $5m and the financing round also included US venture firm Kleiner Perkins Caufield and Byers, corporate venture capital firm BP Ventures and Bright Capital, the venture arm of RU-COM Corporation.

Solidia Technologies focuses on sustainable production of a new generation of building and construction materials.

Copyright © 2012 NewNet

A US utility that provides power to a southwestern state has launched a request for proposal (RFP) to buy renewable energy certificates equivalent to 150,000MWh.

According to a statement filed with the US Department of Energy, the Public Service Company of New Mexico has issued the RFP for facilities that have been or will be operation between now and 31 December 2013.

The RFP states that the utility will look to buy the credits from one or more operators but the facilities must be located within New Mexico.

Public Service Company of New Mexico is a subsidiary of Albuquerque-based PNM Resources, which has operating revenues of about $970m.

A number of solar and wind installations have now been connected to the state’s grid.

Global renewable energy developer Element Power recently connected a 50MW wind farm to the grid in New Mexico and U NextEra Energy Resources has completed installation of a 5MW concentrated photovoltaic  facility in the state.

Copyright © 2012 NewNet

US

The systems have a combined capacity of 2.1MW and are expected to save the VTA $2.7m over the next 20 years. Other participants in the project were Wells Fargo and Joint Venture Silicon Valley.

Ken Yeager, Santa Clara County Supervisor and VTA Chair, said, ‘VTA will be saving taxpayer money on energy costs while investing in a future that will benefit us all. VTA is already combating global warming through the promotion of mass transit and congestion management. Now, we are reducing greenhouse gases through our operations, too.’

Tom Werner, CEO of SunPower, added, ‘California’s public sector is expected to save $2.5bn from solar investments under the state’s California Solar Initiative programme. SunPower has delivered reliable, high efficiency solar power systems to public agencies across California, and we applaud the VTA’s significant commitment to solar here in the Silicon Valley, which will serve the community by minimising operational costs and helping to achieve environmental goals.’

French energy giant Total recently acquired a controlling stake in SunPower.

Copyright © 2012 NewNet

US technology company Honeywell has partnered with energy supplier Hawaiian Electric to investigate how demand response technology can aid the integration of renewable energy onto the electricity grid.

Through a two-year pilot project, the utility will work with commercial and industrial customers to temporarily reduce their electricity requirement. It will conduct a test with fast demand response technology, giving Hawaiian Electric and its customers the ability to reduce demand within ten minutes of a notification of a pending imbalance.

Companies will receive an incentive to participate and when fast response events occur they will receive an additional per kilowatt-hour credit.

Scott Seu, vice president for energy resources Hawaiian Electric, said, ‘Increasing renewable energy requires new and more advanced methods of managing reliability, especially given the variable nature of wind and solar. Our demand response strategy engages our customers in the total solution. This project will lay the groundwork for new programmes to advance a clean energy future for Hawaii.’

Paul Orzeske, president of Honeywell Building Solutions, added, ‘Generating ‘negawatts’ — or reducing demand — is the cheapest and greenest way to meet electricity needs. This project will validate that demand response can deliver negawatts in an accelerated timeframe. Utilities across the globe have ambitious renewable energy goals, and Hawaiian Electric’s groundbreaking work will provide a template for solving the challenge of intermittency.’

Copyright © 2012 NewNet

Germany-headquartered electronics giant Siemens has been contracted to build a photovoltaic (PV) array at the US Army’s White Sands missile range, as part of a $16.8m energy savings performance contract (ESPC).

The capacity of the system has not yet been revealed, but the Army said it expects the panels to help the facility produce 10.2 per cent of its power from renewable sources by the end of 2012. It will qualify for a federal cash grants in excess of $4.8m, as well as providing the army with 10,000 solar renewable energy credits a year.

The project supports President Barack Obama’s directive for federal agencies to make $2bn worth of energy efficiency upgrades over the next two years utilising ESPCs.

Judy Marks, president and CEO of Siemens Government Technologies, said, ‘This project implements a solar photovoltaic array system that will partially offset White Sands Missile Range’s energy requirements, improve facilities and operations, demonstrate Army engineering and technology capabilities and align with the army’s energy security and NetZero objectives.’

The US Military has been a keen supporter of renewable technologies in recent times. At the end of last year the US Navy made a record biofuel order for from Dynamic Fuels.

Copyright © 2012 NewNet

US biotech company OriginOil has signed a strategic agreement with Aquaviridis to implement an algae production roll-out at a facility in Mexicali, north-west Mexico, owned by Aquaviridis.

OriginOil will introduce its technology at the site and use its expertise to help develop growth and harvesting solutions. The Mexicali plant will also serve as a test bed for OriginOil innovations and could serve as a model for the creation of other facilities in the North American Free Trade Agreement region.

Thomas Byrne, president of Aquaviridis, said, ‘After evaluating OriginOil’s portfolio, our technical team felt that OriginOil had some novel, scalable, and potentially game-changing technologies for algae harvesting and growth enhancement. We are excited about the opportunity to work closely with them as a partner during our research and planning stage. Having the right partners and technologies is critical, as our expectation is to have this facility in revenue this year.’

Ken Reynolds, vice president of marketing for OriginOil, added, ‘The Mexicali Valley is a great place to develop an algae industry, given its climate and access to industry research and resources throughout North America. With the US as a neighbouring market for high value exports, Mexico is in an excellent position to take the lead in areas such as research and production of algae for nutritional products, animal feed, and oil for biofuels, which would create long-term regional economic growth and job production.’

Last month, OriginOil partnered with the US Department of Energy’s Idaho National Laboratory to develop a system for the conversion of algae into crude oil.

Copyright © 2012 NewNet

California-based solar thermal developer BrightSource Energy has revealed that it has been chosen by Sasol, together with its partner Alstom, to conduct a comprehensive front-end engineering and design (FEED) study for the South Africa market.

The feed study is a critical step in the design and deployment of a solar thermal power plant in the country.

Sasol will then use this information to determine how best to deploy BrightSource’s technology.

Sasol looks forward to the completion of the FEED study by one of the world’s leading concentrated solar power technology providers. South Africa is blessed with an abundance of a natural energy source in the form of sunlight.

‘This CSP project has the potential of significantly expanding Sasol’s new energy portfolio and will in turn contribute to the country’s transition to a low carbon economy,’ said Henri Loubser, managing director of Sasol New Energy.

South Africa’s total energy supplies are projected to more than double over the next 20 years to more than 85GW, including the planned development of 18GW of new renewable energy, according to the integrated resource plan recently adopted by the government.

Copyright © 2012 NewNet

The UK’s micro combined heat and power (CHP) sector is likely to benefit from new, raised tariffs to be unveiled in the coming days by the government.

Speaking at a Westminster Hall debate yesterday, Minister for Energy and Climate Change Greg Barker said that he has seen a lack of progress to date and would be setting a tariff imminently.

He said, ‘I have been frustrated by the lack of progress and the missed deadlines for the introduction of a wide, scalable, consumer-friendly roll-out.’

He added, ‘We are consulting on tariff levels and I will be publishing our proposed levels very shortly – within a matter of days. I will be introducing a new tariff proposal for CHP. Unlike almost all the other technologies, I will be looking to raise the tariff in those proposals.’

A statement released by the government today said that another scheme – aimed at providing financing for low income householders to insulate homes or upgrade heating systems – was also seeing a lack of appetite.

Barker said the government was committed to providing a feed-in tariff for CHP and would reveal details in February.

He added, ‘I can understand the reactions of the industry to investing in innovation, research and development to bring micro-CHP boilers to market, not just as an interesting gadget or as an alternative method of delivery, but as an attractive, price-competitive alternative to taking electricity from the grid or installing a conventional boiler.’

Copyright © 2012 NewNet

Private equity firm Capital Dynamics has invested in a 5.7MW solar energy project in the US.

The project, located in Massachusetts, is expected to be one of the largest solar energy projects in the New England states. It will utilize over 20,000 solar modules from a leading global manufacturer when construction is completed early this summer.

The project will sell power to three investment-grade rated municipal entities under 20-year net metering credit agreements (NMCA). NMCAs provide regular and reliable streams of income, as well as capital protection features, to investors in clean infrastructure projects.

Karl Olsoni, managing director in the firm’s clean energy and infrastructure (CEI) team, said,’“We are pleased with this latest investment in our clean infrastructure program. The solar energy project has strong community support and will make a valuable contribution to the production of local energy in Massachusetts.’

Thomas Kubr, Capital Dynamics’ CEO, added, ‘The investment in this US solar energy project is another stride forward in the successful expansion of our direct infrastructure investment platform and a testament to the CEI team’s expertise in clean energy investing. A project of this size illustrates the rising demand for clean energy and the consequential need for investor capital in clean infrastructure. We are delighted to help meet that need.’

Earlier this year, Capital Dynamics acquired a 64MW portfolio of UK landfill gas assets across England, Scotland and Wales.

Copyright © 2012 NewNet

UK waste-to-energy specialist Bio Group has formed an agreement with Skinner’s Pet Food that will see half a tonne of food waste each week converted into biomethane.

The gas produced will then be pumped straight into the National Grid network and distributed to consumers in Suffolk, South East England.

Robert Marshall, quality assurance and health and safety manager at Skinner’s, said, ‘Although we are always trying to reduce the amount of waste, at the start of a production run a small amount of extruded product is too wet and would not meet our high standards. That’s where Bio Group comes in, following our agreement with [Bensusan] and his team, we see it being used for anaerobic digestion. This not only reduces our costs by around 20 per cent which helps us in continuing to sell a good value, high quality product. It also reduces our carbon footprint, which is a great deal all round.’

Adam Bensusan, commercial manager for the Bio Group, added, ‘We are delighted to be working with such a respected and successful business as Skinner’s to remove their food waste. This is enabling them to meet their environmental responsibilities and reduce their costs.’

Copyright © 2012 NewNet

A number of renewable energy assets in the Philippines are likely to be sold off as part of a privatisation programme being undertaken by the government.

According to a report in local news service bworldonline.com, the Power Sector Assets and Liabilities Management (PSALM) Corp has identified the 140MSW Casecan hydroelectric plant and the sale of part of the Unified Leyte geothermal project as key priorities of its privatisation work.

A statement on PSALM’s website said it is also opening bidding for power installations in Iloilo City and Davao City, each with a capacity in the 32MW range.

In the 1990s, the Philippines suffered from a crippling power crisis that prompted the government to carry out a privatisation and restructuring programme to ensure it had an adequate supply of electricity and enough to power its developing economy.

The country benefits from strong geothermal resources and at the end of 2011 the government indicated that it would look to attract renewable energy project developers to install facilities in off-grid locations.

Copyright © 2012 NewNet

A US solar rooftop developer may be looking to brave the public markets and is reportedly in preparation for a 2012 initial public offering.

SolarCity, whose chairman is PayPal and Tesla founder Elon Musk, is looking to carry out a listing with a valuation that may reach $1.5bn, according to a report in Bloomberg.

The company is based in California and lost a loan guarantee after the Solyndra bankruptcy at the back of 2011.

If SolarCity does reach the $1.5bn mark, Musk’s 25 per cent stake would net him $375m, on top of the 26 per cent holding he has in electric vehicle maker Tesla which Bloomberg said is worth in excess of $650m.

The company is active in a number of states across the US and caters for both residential and commercial properties.

The public markets have been all but closed to the sector as a number of high-profile bankruptcies have shaken investor confidence.

But the first cleantech-related listing has already been filed with the Renewable Energy Group looking to be one of the biggest bioenergy offerings to date and the report indicates a similar filing may take place by SolarCity in a matter of months.

Copyright © 2012 NewNet

German solar company Solon has formed a sales cooperation agreement with European roof system manufacturer Paul Bauder.

The arrangement will see the companies offer a photovoltaic (PV) solution for flat roofs sealed with bitumen or plastic. For each development, Solon will oversee planning and design as well as supplying inverters and cables for the installation.

Solon said it plans to form similar agreements with other market players throughout 2012.

Stefan Säuberlich, CEO of Solon, said, ‘About 90 per cent of all industrial flat roofs in Germany are sealed with bitumen or plastic membranes. The Solon SOLfixx was specifically developed for those kinds of roofs. Thanks to our cooperation with the industry leader Bauder, we can tap into an enormous market.’

Solon will hope the agreement boosts sales after several subsidiaries filed for insolvency last year.

Copyright © 2012 NewNet

US energy company Atlantic Power has purchased a 51 per cent stake in the 298.45MW Canadian Hills wind farm for around $23m.

The company invested the late-stage development capital into Canadian Hills Wind, owner of the project that is being developed by Apex.

Total project costs are expected to run to $460m and, subject to due diligence, approval from the Atlantic board and other conditions, the company will have the right to acquire the full project equity expected to be worth around $170m.

Construction on the site is set to begin in April with commercial operation forecast for November.

A long-term power purchase agreement is in place for 250.45MW of electricity with an unnamed utility and negotiations are in place for the remaining 48MW.

Copyright © 2012 NewNet

A diversified Norwegian conglomerate is looking to sell its chemicals division, which also operates a major bioenergy facility.

Orkla has hired investment bank UBS to prepare its subsidiary Borregaard to be sold off this year.

The company was unable to confirm these rumours when NewNet went to press but Bloomberg reported that the parent company was either looking to close an outright sale or float the division on the public markets.

Even with the Borregaard division, the company has far reaching business interests that span bioenergy, chemicals and pharmaceuticals.

A statement on the company’s website said it has developed a unique concept for the use of non-GMO wood from sustainable regional forestry as a raw material for a wide range of advanced products. The company can also supply ethanol in bulk from its ice-free port in ships, or by rail and road.

Copyright © 2012 NewNet

US science and engineering company DuPont has formed a strategic agreement with Chinese photovoltaic (PV) manufacturer Suntech to work on increasing the supply of PV materials and technologies to the global solar market.

The partnership will focus on technology advancements, supply chain optimisation and cost reduction, DuPont Tedlar polyvinal fluoride film supply, as well as potential co-marketing strategies. The goal is to both increase the take-up of solar power and the reduction of its cost.

Eric Luo, senior vice president of global supply chain at Suntech, said, ‘We’re partnering with leading [PV] component suppliers around the world as we continue to make solar affordable for everyone, everywhere. With innovative companies like DuPont, the US is a major contributor to the global [PV] supply chain and a net exporter of solar products to China and global markets. Creating higher efficiency solar cells and further extending the long life of solar modules is critical to achieving affordable solar power, and we’ve worked closely and very successfully with DuPont in this regard. We’re taking our collaboration to the next level with this agreement.’

David Miller, president of DuPont Electronics & Technologies, added, ‘DuPont and Suntech have the highest standards for product quality, and sustainability is an important value for each of us. With these shared values, we look forward to bringing our offerings to more consumers as the global industry continues to grow. Global partnerships, such as our work with Suntech, have been central to the solar industry’s growth. Our work together in Masdar is a prime example of the benefits of our collaboration, and of solar energy.’

Copyright © 2012 NewNet

European wind energy company Nordex has been contracted to supply twelve turbines with a combined capacity of 30MW by Spanish power company Eolia Renovables.

The deal includes both delivery and installation of the units for the Barbers project in Tarragona province, north-east Spain. Eolia has already commenced ground work at the location, with Nordex set to implement the first turbine in April and operation planned for the middle of 2012.

Infrastructure specialist the Elecnor Group co-invested in this project with Eolia.

Last month, Nordex sold three wind farms in France with a combined capacity of 35MW to BNP Paribas Clean Energy Partners.

Copyright © 2012 NewNet

German company Gehrlicher Solar has formed a joint venture with Turkish business Merk Solar Enerji to serve photovoltaic (PV) markets in Turkey and neighbouring countries.

The companies will have an equal share in the newly-created venture Gehrlicher Merk Solar Enerji, which will be headquartered in Istanbul.

The new business will be involved in project development, engineering, financing and operation of plants, as well as providing engineering, procurement and construction (EPC) services. There are also plans to establish local partnerships with system integrators in the Mediterranean, south eastern and eastern regions of Turkey.

Murad Baltaci, CEO of Merk Solar parent company the Akfel Group, said, ‘In this joint venture, we will combine Gehrlicher Solar’s 17 years of experience in the planning and construction of solar power plants with Merk Solar’s deep market knowledge and powerful local network. Our goal is to establish a strong presence in Turkey and its neighbouring countries. As an EPC company, we are planning to capture a good share out of the 600MW that are expected to be completed by 2015 in Turkey. Furthermore, we will directly start developing our own projects.’

Klaus Gehrlicher, CEO of Gehrlicher Solar, added, ‘Due to its fast growth and increasing energy demand, Turkey is a highly attractive market for solar power. The Turkish government acted thoughtful and forward-looking when creating a feed-in tariff which allows interesting investments in renewable energies, but which is at the same time very close to the general electricity tariff. These are ideal preconditions for a reasonable and sustainable market growth. We are happy to partner with Merk Solar and look forward to carrying out many successful projects together.’

Copyright © 2012 NewNet

The search is on to find developers of large-scale solar plants in Australia. The government of the Australian Capital Territory (ACT), located within New South Wales, said it is now inviting proposals to be submitted and stressed the emphasis will be on keeping costs low.

The ACT Labor government’s Minister for Environment and Sustainable Development Simon Corbell said the aim is to make Canberra Australia’s solar capital.

‘Companies will be able to submit proposals to establish solar facilities to support the development of up to 40MW of large-scale solar generation capacity,’ Corbell said.

The request for proposal has been facilitated by the Electricity Feed-in Act 2011 – which was enacted at the end of last year – which allows for 40MW of generating capacity to be established in the first auction.

Corbell said, ‘This process will make sure Canberrans get the best value investment in renewable technology, but also see more than one large scale facility being established.’

The government said in a statement that it will shortlist proposals based on those with the best capacity and track record to deliver the projects, before inviting pricing offers.

ACT is the first jurisdiction in Australia to offer a feed-in tariff (FIT) to large scale green power projects.

‘Having a FIT on the table for industry is essential to give the industry investment certainty, that will in turn see Canberra’s plan to become Australia’s solar capital a reality,’ Corbell said.

‘Having large scale solar in the ACT will assist in reducing carbon emissions beyond the national targets and take advantage of the large reductions in the cost of solar energy that has recently occurred in Australia.’

The large scale FIT in ACT was first revealed in December 2011 and at the time Corbell said he hoped the move would encourage more companies to consider the region as a base for their renewable power installations.

Copyright © 2012 NewNet

A €70m wind tender that was originally cancelled due to technical details is due to reopen in Eastern Europe.

According to a report in Bloomberg, Romanian state-owned utility Electrica will open the bidding process as it looks to secure equipment for two projects.

Before the original tender was cancelled, Sinovel and Vestas both reportedly submitted bids.

A 45MW plant is scheduled to be operational in June but it is unclear where the second installation will be cited.

In a recent report carried out by US universities Yale and Columbia, Romania was identified among a handful of countries as a region that has notably improved how it handles its environment.

The country’s renewable energy potential has also been targeted by Czech utility CEZ alongside Poland.

Copyright © 2012 NewNet

UK plastic recycling specialist WRAP has provided a £1.15m loan to ECO Plastics for the expansion of a facility in Lincolnshire, North East England.

The funding will allow ECO Plastics to sort and process an additional 15,000 tonnes of rigid plastic packaging, bringing the annual processing capacity of its Hemsell plant’s to 150,000 tonnes.

This investment completes a joint venture formed with Coca-Cola Enterprises last year.

Lord Taylor, Environment Minister, said, ‘I’m delighted to see this investment in ECO Plastics. It will increase the amount of plastic that gets recycled by 15,000 tonnes, helping to protect the environment and save businesses money by cutting back on their use of raw materials. The recycling industry is growing and we’re working to help companies gain a foothold in this exciting new marketplace which will help us become a zero-waste economy.’

Jonathan Short, managing director of ECO Plastics, added, ‘The processing of non-bottle rigid plastics packaging is the next logical step in UK plastics recycling infrastructure. But it is vitally important that we don’t run before we can walk – the processing infrastructure must be in place before we encourage further non-bottle rigid plastics collection across the UK. Even after this investment, current collections far outweigh the available processing capacity, posing serious risk to the whole industry.’

Copyright © 2012 NewNet

US solar company SunPower has completed the acquisition of Tenesol, a subsidiary of French energy company Total, for $165.4m.

In addition, Total purchased 18.6 million shares of SunPower stock in a private placement, with a valuation of $8.80 a share. Total now owns around 66 per cent of SunPower common stock.

Tom Werner, president and CEO of SunPowet, said, ‘SunPower is well positioned to gain share during the current market transition with the addition of Tenesol’s established European and global customer channels and strong manufacturing base in Europe and Africa. Tenesol’s well-established engineering and sales channels and strong team will complement SunPower’s world-leading high efficiency, high reliability solar panels and systems global footprint.’

Arnaud Chaperon, senior vice president of Total Gas and Power, added, ‘With SunPower’s industry-leading technology, attractive long-term cost roadmap, our joint collaboration on research and development and Tenesol’s established downstream presence, the combined company is well positioned to open new, largely untapped markets for solar.’

Copyright © 2012 NewNet

US utility Tuscon Electric Power (TEP) has contracted Areva Solar to construct a 5MW concentrated solar (CSP) plant adjacent to an existing coal-fired facility.

The Sundt Solar Boost Project is part of TEP’s plan to expand its solar generating capacity to more than 200MW by the end of 2014. Construction on the CSP system is scheduled to commence later this year, with operation scheduled for early 2013.

The new systems should help the company to meet or exceed Arizona’s Renewable Energy Standard, requiring utilities in the state to increase their share of clean generation to 15 per cent by 2015.

TEP said it will use this project to evaluate the potential for integrating CSP into other existing facilities.

Paul Bonavia, chairman and CEO of TEP, said, ‘Areva Solar’s innovative solar boost technology gives us a cost-effective, environmentally responsible way to expand the output of our largest local power plant without increasing emissions.’

Bill Gallo, CEO of Areva Solar, added, ‘TEP is a national leader in solar energy, and we are pleased that they’ve selected our US-designed and manufactured CLFR technology for this addition to their clean energy portfolio. Solar booster projects like this are gaining momentum in the United States and around the world as a way to leverage existing power infrastructure to provide needed energy with no new emissions.’

Copyright © 2012 NewNet

A community energy scheme has been launched in the UK to provide financing to green power projects.

The Co-operative Energy Challenge will provide £1m in financial backing and support to between six and eight projects across the country.

The projects will be selected through a competitive bidding process and will be delivered by Bristol-based charity the Centre for Sustainable energy on behalf of UK business group The Co-operative.

Paul Monaghan, head of social goals at The Co-operative, said, ‘Our aim is to stimulate an energy revolution that will enable communities up and down the country to benefit from community renewable projects.

‘If you look at other countries such as Germany it is clear that the relationship between people and energy is completely different than it is in the UK. We want to change it from one where people are at the mercy of large profit-making energy providers to one where they control, generate and benefit from their own energy supply.’

Once a project has been selected the communities will receive between 12 to 18 months of enterprise development, mentorship and technical advice.

Simon Roberts, CEO of the Centre for Sustainable Energy, said, ‘The Co-operative’s new intervention represents a major breakthrough. The Co-operative Energy Challenge gives communities the opportunity to secure the support they need to get serious about developing the larger-scale renewable energy projects that generate real pride and profits for local people.’

UK-based Co-op has been active in funding renewable energy projects, both domestically and abroad.

Towards the end of 2011, it spearheaded a global initiative aimed at providing a cash boost to renewable power infrastructure projects in emerging economies.

Copyright © 2012 NewNet

Swedish cleantech company Alfa Lavel has been contracted by Mitsubishi Heavy Industries to supply waste heat recovery systems for ships being build for Maersk in a deal worth SEK230m ($34m).

The Aalborg Exhaust Gas Economisers utilises exhaust gases from the main engine to produce steam for a turbine that generates electricity. Delivery of the units is scheduled to begin this year and be complete by 2014.

Lars Renström, president and CEO of the Alfa Laval Group, said, ‘This order is interesting in many ways – it is one of our largest so far, it includes newly acquired products and involves a couple of major players in the marine industry.

‘We can also conclude that 2012 has started well, with the booking of two large orders worth approximately SEK 340m ($50m) in total already during January.’

Copyright © 2012 NewNet

The renewables division of US power company MidAmerican Energy has purchased the 550MW Topaz Solar Farm being developed in California by First Solar, for an undisclosed sum.

The photovoltaic (PV) facility will be built, operated and maintained by First Solar. Construction at the site began in December 2011 and it is expected to be operational in early 2015.

The plant is supported by a 25-year power purchase agreement with the Pacific Gas and Electric Company.

Bill Fehrman, president of MidAmerican Renewables, said, ‘There is a growing desire to utilise renewable energy. Solar plays a crucial role in meeting renewable energy targets and portfolios. The closing of the Topaz project acquisition makes it the second solar project in our renewables business, and we look forward to evaluating and acquiring additional opportunities.’

Frank De Rosa, senior vice president for business development at First Solar, added, ‘We are pleased to be moving forward with MidAmerican Renewables on the Topaz project – one of the two largest PV projects in the world, which are both being built by First Solar. First Solar is the leading developer of utility-scale PV projects, and MidAmerican Renewables’ investment in these renewable resources is a significant endorsement.’

MidAmerican is backed by prominent US investor Warren Buffett. The company has been investing heavily in renewable generation in recent months and recently purchased an 81MW wind project in Illinois from Invenergy.

Copyright © 2012 NewNet

Corporate investment group BASF Venture Capital has participated in the $27m financing round for green materials technology company Solidia Technologies.

The firm contributed $5m and the financing round also included US venture firmKleiner Perkins Caufield and Byers, corporate venture capital firm BP Ventures and Bright Capital, the venture arm of RU-COM Corporation.

Solidia Technologies focuses on sustainable production of a new generation of building and construction materials. The technology uses CO2 as a reactant, consuming and sequestering this greenhouse gas during production. The process enables production of fully cured concrete pieces within just a few hours.

‘The materials produced by this process will have disruptive potential in the building and construction industry. They have better mechanical properties than traditional concrete and show no shrinkage, high compressive strength and low permeability,’ said Pulakesh Mukherjee, principal at BASF Venture Capital.

‘The global building and construction market offers a significant opportunity for this innovative technology. Our process has been developed in the pilot scale to date and BASF can add a lot of value with its knowledge of chemistry and process engineering,’ added Thomas Schuler, CEO of Solidia Technologies.

BASF Venture Capital was established in 2001 as a wholly owned subsidiary of BASF Future Business, based in Ludwigshafen, Germany, with the aim of exploring new growth potentials based on investment in startup companies and funds.

Chemicals company BASF posted sales of €63.9bn in 2010.

Copyright © 2012 NewNet

A US-based company that owns a portfolio of clean energy assets has begun a strategic review of its operations with a view to selling its non-core interests.

Solar Acquisition, which is a development stage public company, said over the past two years it has made investments in a number of clean energy assets and is now looking to focus its strategy.

The review will focus on strengthening its core activities and a statement by the company said it expects it will lead to changes in its relationship to its investments, strategic relationships, personnel, and may include the sale of non-core assets.

It anticipates the review process to last six weeks and include the participation of technical experts.

Copyright © 2012 NewNet

A US utility has launched a request for proposal (RFP) to secure ten-year solar energy credits.

FirstEnergy said it is on the hunt for Solar Renewable Energy Credits (SREC) for customers of its Ohio utilities Ohio Edison, Cleveland Electric Illuminating and Toledo Edison.

The RFP is to source 1,000 SRECs for each year from 2012 to 2021 and will formally launch on 9 February. Bidders then have until 27 February to submit credit information with the full proposals due by 6 March.

In October, NewNet reported that FirstEnergy Ohio was looking to buy 5,000 solar credits, and 20,000 renewable energy credits produced by generating facilities within Ohio each year between 2011 and 2020.

Renewable energy developments in Ohio are gathering pace and earlier this month Swedish furniture giant Ikea completed a 1MW installation in the state at West Chester.

Copyright © 2012 NewNet

A US-based renewable energy generator has retained an investor relations firm as it looks to expand its outreach and increase its network of investors.

Arista Power, which is based in Rochester and manufactures and designs renewable energy systems, has brought in the services of The Equity Group.

Cherrie Mahon, vice president of investor relations and corporate communications for Arista Power, said, ‘While we continue to focus on executing our operating plan in what is a very promising time for our business, we also look forward to our partnership with The Equity Group to get our message out to a broader investing audience.’

The company is now looking to advance its growth strategy having recently signed a major deal with the US Army to become the prime contractor for the development of a new intelligent micro-grid.

In 2021, CEO William Schmitz said he expects booked orders to reach at least $17.5m, with recognised revenues of at least $7.5m.

Copyright © 2012 NewNet

A US-based energy company, which trades its shares over the counter, said it has engaged with investment banks with a view to listing on Nasdaq.

Universal Bioenergy – which owns assets in biofuels, alternative energy and natural gas – began trading its shares in September.

It said it has carried out talks with several investment banks and private equity firms over its strategic plans and will now engage with a bank to assist in its plans.

A statement said the discussions involved how to increase the company’s stock price to $4 or above to qualify for Nasdaq as well as improving its market value and arranging how best to carry out a secondary public offering to raise $50m in capital for expansion and acquisitions.

Solomon Ali, senior vice president for Universal, said, ‘The meetings were very intensive and yielded some very positive results. The company has already received proposals and agreements from several of the investment banks and advisory firms we met with.’

He added, ‘The meetings were very intensive and yielded some very positive results. The Company has already received proposals and agreements from several of the investment banks and advisory firms we met with. .Although we cannot guarantee it, the move to Nasdaq would be a major step in the vompany’s history, its future growth and in our effort to make the Company more attractive to institutional investors.’

Universal previously said it has a pipeline of multi-million dollar acquisitions that it is actively pursuing.

Copyright © 2012 NewNet

Vestas has received its first Chinese order for its V100 turbine, specifically designed for low wind speeds, from Datang Hubei Renewable Energy.

Vestas said the order represents not only an important step in the low wind regime in China, but also a step into the new geographical market of Hubei province.

The 27 units of V100 1.8MW turbines – with a total capacity of 48.6 MW – will be installed in the Long Ganhu wind farm in the Hubei province. The site has an average wind speed of 5m/s.

Jens Tommerup, president of Vestas China, said, ‘The low-wind sites in China are a new market of huge potential, but a new market also implies new challenges for wind power developers. It is therefore important to choose a proven and reliable technical platform and well-recognised business partners. Datang Renewable’s selection of Vestas for low-wind sites is the best recognition of our long-term cooperation.’

He added, ‘The contract is of great significance to us; it not only helps us open up a new market, but also firms our steps towards the exploitation of the dominant wind regime in China.’

The contract includes delievery, installation and commissioning of the turbines as well as a two-year service and maintenance agreement.

Copyright © 2012 NewNet

The Nordic Investment Bank (NIB) has provided a seven-year €18m loan to power company Vaskiluodon Voima Oy for the construction of a bioenergy gasification plant in Vaasa, Finland.

The new 140MW gasification-based bioenergy plant will be connected to the existing power plant, and will enable a fuel mix of both coal and biomass.

The company said coal use will be reduced by 25 per cent to 40 per cent, and the biomass will comprise a mixture of peat and forest residues.

‘The Vaskiluodon Voima project combines energy production with an innovative new technology developed in Finland, allowing NIB to finance a project that brings together two core sectors of its activities,’ said Johnny Åkerholm, NIB president and CEO.

The use of large-scale biogas plants is still relatively new in the country and the plant has also received grants from the Ministry of Employment and Economy due to the innovative technology it will deploy.

Copyright © 2012 NewNet

Austrian-based Gussing Renewable Energy has reportedly taken a 25 per cent stake in Indian biomass business GP Energy.

According to a report in India’s Economic Times, Gussing has acquired the equity share in GP Energy to help it increase its turnover, and expand its footprint. GP Energy already has plants in Nepal, Thailand and Guyana.

Earlier this month, Gussing participated in what was said to be one of the largest deals in the stationary fuel cell industry through a $500m transaction signed with ClearEdge Power.

GP Energy specialises in biogas diversification and synergies between the two companies are thought to include enriched bio-fertilisers, hydrogen cells and energy storage technologies.

Copyright © 2012 NewNet

US-based LED manufacturer Relume Technologies has closed $7m in Series D financing, led by Beringea.

The company, which also has smart grid control systems for outdoor lighting applications, also received investment from California-based Western Technology Investment, and other unnamed parties.

‘Relume has seen tremendous growth over the past year, as evidenced by recent sales in multiple municipalities, new product launches and several key additions to our engineering team,’ said Crawford Lipsey, CEO for Relume. ‘These funds will allow us to build up our sales and manufacturing infrastructure and further expand our team.’

Michigan-based Relume’s technology has applications in street lighting, transportation and for the US military.

‘Relume is growing rapidly – roughly doubling its revenue in 2011 – and through its innovative technology and world-class management team, Relume is poised to secure a dominant position in the outdoor LED lighting market,’ said Jeff Bocan, managing director for Beringea.

‘We are pleased to offer continued support as the company re-lights more cities and spaces with its superior long-lasting and energy efficient LED technology.’

Copyright © 2012 NewNet

Lead managers have been appointed to arrange the sale of a major renewable energy-focused utility in New Zealand.

According to a number of reports, Goldman Sachs, Macquarie Capital New Zealand and First New Zealand Capital/Credit Suisse Australia have been brought in for the sale of Mighty River Power as part of the government’s privitisation strategy.

NewNet first reported about the sale in November and it is widely reported that 49 per cent of the company will be sold off, alongside holdings in other utilities Meridian and Genesis.

Mighty River Power’s generation business is 90 per cent renewable energy focused, with its main power installations based on the Waikato Hydro System where it has nine facilities.

In addition, it also has geothermal plants with the Taupo and Bay of Plenty regions.

Copyright © 2012 NewNet

The renewable energy subsidiary of US infrastructure company Primoris Services has been contracted to participate in the build of two waste-to-energy facilities in Puerto Rico, in a deal worth $40m.

Primoris Renewables will partner with Synergy and Dynamis Energy to build the plants, which will each have the capacity to gasify around 180,000 tonnes of municipal solid waste and produce 10MW of renewable energy.

The three companies said they will look to develop and construct multiple waste-to-energy facilities throughout the world.

Copyright © 2012 NewNet

Cambridge, UK-based solar and semiconductor technology specialist TeraView has secured $5.5m of financing from a consortium led by New Hill Management and Full Circle Investments in the US, together with YFM Equity Partners and Turquoise International in the UK and other investors.

Turquoise International invested on behalf of the UK Low Carbon Innovation Fund (LCIF), based at the University of East Anglia.

The company is a terahertz systems pioneer. Terehertz waves sit in the spectrum between infra red and microwave and as such have unique properties. TeraView is the world’s first company devoted to the application of terahertz light for imaging and spectroscopy.

Its proprietary platform uses the terahertz spectrum between light and radio waves and offers the advantage of being non-invasive and non-destructive. A key application of the technology is the detection of faults and quality variations in semiconductor integrated circuits.

The investment will allow the company to accelerate the growth of its semiconductor, industrial and analytical business in Asia, the US and the EU. Key areas for focus include sales and marketing in Asia, as well as further product development in its semiconductor inspection market.

Funding will also be used to enhance support and collaborations with existing customers in these markets, it said.

Richard Harvey, chairman of the LCIF Investment Committee, said, ‘We are delighted to support this patented technology which offers carbon saving technology to high growth markets, which will bring jobs and growth to the region.’

David Livesley, an investment director at YFM Equity Partners, added, ‘We have been following TeraView’s progress for a number of years. As one of Britain’s most innovative technology businesses we are delighted that the opportunity has arisen for YFM Equity Partners’ funds to help accelerate its growth. We look forward to building our relationship with the Company and management team as they continue their international expansion working with major multinational clients.’

UK regional growth investor YFM Equity Partners is looking to raise a new fund this year with a target size of more than double that of its predecessor, making it the firm’s largest investment vehicle raised to date.

The new fund, which will seek commitments of around £100m, will provide expansion capital, MBOs or MBIs as well as partial sales and equity release situations for British SMEs with an enterprise value of £5m to £25m.

Recent investments include a £4.5m financing round in December for Poweroasis, a business that supplies energy-efficient power to companies operating in the mobile phone sector, and the management buy-in in August of Bagel Nash, the North England-based gourmet bagel company.

Copyright © 2012 NewNet

UK cleantech consultancy Natural Power has been contracted to provide back office support RidgeWind’s Hall Wind Farm development in North East England.

The agreement will see Natural Power delivering financial and commercial administration services during the construction of the facility, which commenced on 16 January. The project consists of 12 turbines and is set to have an installed capacity of 24.6MW.

Billy MacMillan, finance director at Natural Power, said, ‘Natural Power were already contracted to carry out the owner’s engineer role for Hall Wind Farm, so taking on an active commercial management interface role as well as financial controller position is a great achievement and natural fit for us. We are keen to expand our commercial support services within the industry, and we are delighted to be offering this facility to RidgeWind.’

Marjorie Glasgow, managing director at RidgeWind, added, ‘We are pleased to build on our relationship with Natural Power as they have the resources and expertise to provide the range of services we desire for Hall Farm.’

Natural Power is set to expand its offering by combining its service with Welsh environmental business Ecology Matters.

Copyright © 2012 NewNet

German electronics giant Siemens has been contracted to supply wind turbines with a combined capacity of 100MW for two projects in North Africa being developed by Nareva Holding.

The company will provide 44 units for the Moroccan Haouma and Foum El Oued projects. The deal includes delivery, installation and commissioning of the turbines, as well as a five-year service contract for each facility.

Both plants are expected to commence commercial operation by the middle of 2013.

Felix Ferlemann, CEO of the Siemens Wind Power Division, said, ‘These two orders mark Siemens Wind Power’s entry on the African wind market and clearly show that our internationalisation strategy is successful.’

Earlier this year, Morocco’s public utility ONE launched tenders for 850MW of wind energy projects, inviting bids from international companies.

Copyright © 2012 NewNet

Chinese photovoltaic (PV) manufacturer Yingli Green Energy has been contracted to supply 180MW of multi-crystalline and mono-crystalline PV modules to Germany’s IBC Solar throughout 2012.

The panels are expected to be utilised primarily for projects in Germany, as well as other European and non-European developments. Under terms of the agreement, IBC has the option to purchase an additional 20MW of panels in 2012.

Liansheng Miao, chairman and CEO of Yingli, said, ‘We are pleased to enhance our partnership with IBC. Based on the strong faith that we have in each other, Yingli Green Energy and IBC have gone through the up-and-downs of the solar industry and achieved significant growth of our businesses during the past several years. We believe this agreement demonstrates our partners’ strong confidence in the continuous growth of the PV industry and indicates the robust demand of our products in 2012. We look forward to continuing our close cooperation with IBC and other partners to seize the enormous opportunities ahead.’

Udo Moehrstedt, founder and CEO of IBC, added, ‘We have been working very successfully with Yingli Solar for five years now. The foundation of the trustful cooperation between our two companies is the high quality of Yingli’s modules, as well as the strategic strength of Yingli. IBC Solar will continue to drive the adoption of photovoltaics globally, and we consider Yingli as one of our partners in achieving this goal.’

Copyright © 2012 NewNet

US cleantech company Onyx has signed a memorandum of understanding to acquire 25 per cent of Chinese company Optimum Solar.

Financial terms of the purchase will be settled upon completion of Onyx’s due diligence review of Optimum’s existing operations and future valuations. Onyx said it expects to close the deal within the next few weeks.

Malcolm Burleson, president of Onyx, said, ‘We are confident that the acquisition of this substantial stake in Optimum will allow Onyx access to some of the best engineering and manufacturing expertise available in the solar industry. The combined resources of Onyx and Optimum will allow for the acceleration of the commercialisation of our co-developed ‘Plug-N-Play’ all in one solar panel system. To date we have received sales inquires from all four corners of the globe; each with a story of how the ‘Plug-N-Play’ could be used in revolutionary ways.’

In September last year, Onyx received approval for the construction of an 18.5MW photovoltaic (PV) facility in Roatan, Honduras.

Copyright © 2012 NewNet

Swiss electronics giant ABB and US low voltage specialist Thomas & Betts have agreed to a transaction through which ABB will acquire Thomas & Betts for $72 a share, or around $3.9bn.

The transaction is subject to approval by Thomas & Betts shareholders, as well as regulatory approvals. The deal is expected to close by the middle of 2012.

Combining the companies’ solutions is aimed at creating a broad low voltage product portfolio that will be sold through Thomas & Betts’ network of more than 6,000 distributor locations and ABB’s distribution channels in Europe and Asia.

Through the combined product offering ABB hopes to double its addressable market in North America to around $24bn.

Joe Hogan, CEO of ABB, said, ‘Thomas & Betts is a well-run company with strong brands and excellent distribution channels in the world’s largest low-voltage products market. Because our products are complementary, we’ll go to market with one of the broadest offerings in the industry. That creates strong growth opportunities for both ABB and Thomas & Betts, and gives customers and distributors one-stop access to one of the widest ranges of low voltage products.

‘Strategically, it’s a great fit. This is another big step toward our goal of expanding our presence in the key North American market. The transaction clearly supports our 2015 growth and profitability targets, and meets all of our return-on-investment criteria for creating shareholder value.’

Dominic Pileggi, chairman and CEO of Thomas & Betts, added, ‘This transaction delivers significant value to our shareholders and will enable Thomas & Betts to accelerate our global growth strategy. The combination will also enable us to provide our North American customers and distributor network with a broader portfolio of products and will provide long-term opportunities to our employees. This is the right time for this transaction and I believe strongly that ABB is the right partner for our business going forward.’

Copyright © 2012 NewNet

US alternative fuels company KiOR has secured a $75m, four-year term loan with a lending group comprised of an affiliate of Vinod Khosla and two Canadian businesses owned by pension fund clients of the Alberta Investment Management Corporation.

Fred Cannon, CEO of KiOR, said, ‘This follow-on investment in KiOR reaffirms the continued long-term commitment of two of North America’s most knowledgeable renewable energy investors in light of KiOR’s on-time and on-budget execution of its first commercial facility in Columbus, Mississippi. The additional capital de-risks KiOR’s near-term business plan, decreases KiOR’s dependency on volatile capital markets and allows additional front-end engineering work on our second facility.’

KiOR raised $53m last year, most of which was related to the construction of the company’s facility in Mississippi.

Copyright © 2012 NewNet

Independent power company Indian Energy has formed a framework agreement with Trishe Developers Private for the acquisition and construction of 1,000MW of wind farms in India.

Under terms of the agreement, Trishe will develop the facilities with Indian Energy purchasing the plants once certain milestones have been reached. The companies expect around 300MW of projects to become operational during 2013, a further 350MW by 2014 and the remaining 350MW in 2016.

Developments are set for a number of states including Tamil Nadu, Karnataka and Maharashtra. Turbine suppliers will be chosen on a project-by-project basis.

Rupert Strachwitz, CEO of Indian Energy, said, ‘This is an important milestone for Indian Energy; we have now created the visibility on the growth of the group to over 1GW of capacity, which we can achieve in a relatively short period of time. We are delighted to have partnered with Trishe, whose team has an exceptional track record in the development of wind farms in India.’

Narasimhan Ramkhumar, CEO of Trishe, added, ‘We at Trishe are honoured to be given an opportunity to serve an important customer such as Indian Energy, and to deploy our development and construction capabilities. We look forward to a long and fruitful partnership with Indian Energy.’

Copyright © 2012 NewNet

Although a number of deals have closed this week, it seems even those that have managed to close transactions in the cleantech space are on the hunt for more cash, or conversely on the lookout for future investments.

This week, Australia-based algae-to-oil specialist Algae.Tec revealed it had closed A$5m ($5.28m) but told NewNet it was on the hunt for more.

Roger Stroud, executive chairman, said the business was not interested in securing private equity capital and but was seeking capital from institutional investors or strategic partners. It is now looking for $20m in equity funding to finance its Chinese activities, as well as partners to aid entry into Brazil and the US.

Also this week, the solar division of renewable energy investor Amplio closed €16m in financing from an unnamed Italian bank to invest in 7MW of solar projects in Lazio, Italy.

But Alberto Dalla Rosa, CEO of Amplio Solar, revealed to NewNet that it was also looking to close investment for a portfolio of rooftop projects. He said, ‘[We have] 30MW of rooftop projects are in development and we are looking for investors in those developments as well as for concentrated photovoltaic projects.’

Dalla Rosa said the company’s strategy will rest on moving investments away from the balance sheet. ‘Securing more finance is quite difficult because of the lack of liquidity. Most of our projects are already financed, except for the projects where we are leasing the area in which we are working with Italian banks and we expect to reach an agreement soon.

‘Players that rely on project and balance sheet financing become more vulnerable. What we are trying to do is move to a financing model for 100 per cent equity, we believe that is the only option available in today’s financial conditions.’

On the other side of the deal-making, two major companies revealed they are on the acquisition trail this week.

The Abu Dhabi National Energy Company, known as Taqa, revealed to NewNet diversified from its historic focus on the oil and gas sector to tap into clean technology opportunities.

The new entity, Energy Solutions, will sit alongside its two existing business streams – oil and gas exploration and production (E&P) and power and water management – to focus the company’s efforts in this space.

Allan Virtanen, company spokesperson at Taqa, told NewNet, ‘We have been working on renewable energy projects for quite a while and now we are stepping up our efforts and focusing on the area more.’

Meanwhile in the US, Warren Buffett-backed MidAmerican Holdings has established a new business to oversee its wind, geothermal, solar and hydro projects.

MidAmerican Renewables will now look to build its portfolio as it becomes a leader in the field.

‘MidAmerican Renewables is open for business,’ said Greg Abel, chairman, president and CEO of MidAmerican Energy. ‘We look forward to expanding our wind, geothermal, solar and hydro portfolio, so we can offer energy in the renewables market. We believe the need for renewable energy will continue to grow, and we are excited to be a leader in this area.’

Copyright © 2012 NewNet

Large-scale renewable energy generation is no longer about building up portfolios, but instead M&A is focused on realigning existing assets as the sector matures.

A number of experts speaking in London this week said that three to four years ago European utilities were engaged in aggressive renewable energy portfolio expansion but with continued economic uncertainty and shifting policies, transactions are focused on managing – not acquiring – assets.

Markus Wandt, head of M&A and corporate development at RWE, said, ‘Three years ago, M&A was all about portfolio growth but now that picture has changed quite a bit.’

He added, ‘Pipeline M&A is not so much the issue, it is how to fund the pipeline. We still buy opportunistically but we do so much more selectively.’

For RWE, Wandt said, the key issue is about defining its offshore wind strategy and in total the business has 7GW to 8GW in its pipeline.

This sentiment was echoed by Gokhan Baykam, CEO of renewable energy developer, Relight. He said, ‘Traditionally, our business was focused on becoming active in the project space and securing our pipeline. But now, the big problem for developers is equity – the markets are closed and initial public offerings are impossible.’

But Baykam warned that many are viewing the sector too pessimistically. ‘Greenfield opportunities are mainly over in Europe but returns are still to be found. They may not be in the double digits but they are still there.’

E.ON Climate and Renewables, one of the biggest utilities in Europe, has also changed its acquisition strategy.

Speaking this week, its CFO Cord Landsmann said, ‘Four years ago, on average we were acquiring a wind turbine on average every 15 hours. Today, it is not about buying a pipeline, it is about finding partners.’

He said, ‘We have to reduce our generation costs and there is no question about this. There is no way on Earth that the renewables sector can fund this alone. We need to find partners that want lower risks, lower returns and a longer-term strategy.’

Copyright © 2012 NewNet

A renewable energy investor told NewNet it is looking for buyers of Italian solar rooftop projects.

Amplio Solar, which recently secured €16m in financing from an unnamed Italian bank to invest in 7MW of solar projects in Lazio, Italy, told NewNet that it has a portfolio of additional projects for which it is looking for investment.

Alberto Dalla Rosa, CEO of Amplio Solar, said, ‘[We have] 30MW of rooftop projects are in development and we are looking for investors in those developments as well as for concentrated photovoltaic projects.’

Amplio Solar is the solar division of European cleantech investor Amplio Group.

The projects it has just secured financing for were in part funded by Rios Renovables of Spain, which acted as engineering, procurement and construction contractor.

Amplio has now raised €120m, with 30MW of installed solar projects in Italy.

Dalla Rosa said the company is changing strategy and targeting more small-scale developments because of evolving policy in the country.

He said, ‘The FIT went down in Italy but the turnkey costs also went down substantially, so we believe the return on investment is still there. The focus of our activity is no longer on the larger-scale ground-mounted photovoltaic plants because that has basically become an impossibility in the Italian context. Now we are focusing on rooftop mounted projects that are less than 1MW in capacity.’

Copyright © 2012 NewNet

An electric vehicle battery maker has filed for bankruptcy in the latest of a strong of cleantech casualties.

Ener1 has filed documents with the Securities & Exchange Commission stating that it has entered into a restructuring, lock-up and plan support agreement, which will be carried out by interim CEO Alex Sorokin.

According to a report in Bloomberg, a subsidiary of the business – EnerDel – is the recipient of a $118m grant from the US Department of Energy, of which it has so far received $55m.

Ener1’s batteries came under scrutiny recently when a General Electric Chevrolet Volt, fitted with the lithium-ion technology, caught fire. A safety investigation has now cleared the company of any wrongdoing or safety issues, the report said.

But increased competition from Asia-based technology suppliers has – like in many other parts of the cleantech industry – hit the business hard.

Earlier this week, alternative fuel company Evergreen Energy filed for bankruptcy protection with the US Bankruptcy Code in the District of Delaware.

Copyright © 2012 NewNet

An Israel-based solar module specialist told NewNet it will look to secure investment in 2012 to further its research and development work, and to develop a pilot project.

3G Solar Photovoltaics, which focuses on producing dye solar cells, is already in talks with partners in Europe and China, Shlomzion Landau, responsible for business development at the company, said.

Landau said 3G Solar has recently achieved the ten per cent efficiency mark for its ‘small cell’ technology and it is now looking to produce a prototype of a commercial scale technology.

‘This would be a profound milestone as 3GSolar’s dye solar cells can already generate up to 40 per cent more electricity compared to silicon photovoltaic cells.’

Landau said the company’s planned roadmap outlines its first production line to be up and running in 2014.

3GSolar is a privately-held company with its headquarters and R&D division in Jerusalem.

In July, 3G Solar received investment in the form of a convertible loan from IEC, the largest electricity producer in the country.

Copyright © 2012 NewNet

US company National Solar Power has entered into a development agreement with Liberty County, Florida, that could see it construct solar facilities in the area up to a combined 100MW in size, an investment worth around $350m.

A maximum of five 200 acre, 20MW plants are planned at a cost of $70m each. National Solar expects this could create up to 100 jobs over a five-year construction period, followed by 25 permanent operational roles.

After local and state permitting processes have been completed, the first panels could be operational within six to eight months of breaking ground. Hensel Phelps Construction will design, build and operate the solar farms on behalf of national Solar.

James Scrivener, CEO of National Solar, said, ‘Florida is ripe with opportunities to establish successful solar-energy projects. We are thoroughly impressed with the high-level of enthusiasm we’re seeing from economic development, civic and elected leaders across the state. We are grateful to the Liberty County community for the warm welcome it has extended to us and stand ready to work with our new partners to build our new network of farms and begin harvesting the power of the sun.’

Copyright © 2012 NewNet

UK cleantech consultancy Natural Power has signed a framework agreement with Welsh company Ecology Matters to mutually develop an environmental advisory service.

The combined teams will assist renewable energy project developers with ecology and hydrology study requirements.

John Woodruff, Natural Power’s senior development manager in Wales, said, ‘We have worked with Ecology Matters on several sites and feel the two companies share a common approach to ecology and hydrology – this arrangement helps to strengthen the offering of both companies, ultimately assisting our respective clients and seeking new opportunities in the market.’

Sarah Cartmel, director of Ecology Matters, added, ‘We are delighted to have signed this framework agreement with Natural Power and look forward to working closely with them on a variety of projects. The two companies have skills which complement each other and the agreement will allow us both to provide high quality ecological services for onshore and offshore renewables projects across the UK.’

Earlier this week, Natural Power was contracted to provide feasibility studies for three biomass projects in Glasgow.

Copyright © 2012 NewNet

The American Council on Renewable Energy (ACORE) and Advanced Energy Economy (AEE) have formed a partnership to explore how renewable energy can help the US Department of Defense (DoD) reduce reliance on fossil fuels.

The two organisations will host multiple forums throughout the year to help the US Military integrate and deploy renewable energy solutions. Key areas of focus will be technological and financial opportunities, as well as challenges related to the expanded use of renewables.

The DoD is the largest industrial consumer of oil in the world using 125 million barrels in 2010, more than 82 per cent of countries’ individual consumption.

Nick d’Arbeloff, president of Regional Development and National Programs for Advanced Energy Economy, said, ‘Our armed forces know the dangers of overdependence on oil better than anyone, and advanced energy companies stand ready to help the Defense Department meet its energy needs in new ways. Renewable energy is an important part of the answer, along with energy efficiency and energy management technologies.’

Dennis McGinn, president of ACORE, added, ‘America’s continued reliance on foreign oil resources presents a serious and urgent threat to our national and economic security. The US Military, used to planning strategic campaigns to manage risk, has taken a leading role in deploying renewable energy as threat mitigation. Let’s learn from their example and find ways for the renewable energy industry to work with the military to create an energy future that will ensure and enhance America’s national security and prosperity.’

Copyright © 2012 NewNet

Mexican photovoltaic (PV) manufacturer Solartec Energia Renovable has partnered with US micro-inverter specialist SolarBridge Technologies to distribute alternating current (AC) modules in Mexico.

Under terms of the agreement, SolarBridge inverters will be combined with the Solartec panels to create a ‘roof ready’ solution.

The companies claim the units can reduce installation time by 20 per cent and deliver up to 25 per cent more energy harvest over central inverter-based alternatives. The first modules are expected to be shipped later this quarter.

Ron Van Dell, president and CEO of SolarBridge, said, ‘We are very pleased to be working with Solartec to introduce AC solar solutions to Mexico. Plug-and-play AC modules are a very compelling product in such a rapidly growing market that has high solar irradiance.’

Miguel Medina, general manager of Solartec, added, ‘SolarBridge has been an excellent partner in bringing the S60MC to market. Their innovative product design and high reliability made us confident that we could build the microinverter directly onto the module to offer what the Mexican solar market needs – easy, affordable solar solutions.’

Copyright © 2012 NewNet

Danish buy-out house Odin Equity has sold its majority stake in Haarslev Industries, a cleantech business, to Stockholm-based private equity peer Altor Equity Partners.

The deal, which was completed through the firm’s Altor Fund III vehicle, will see CEO Claus Østergaard staying on as co-owner and chief executive of the company. Financial terms of the deal were not disclosed.

Founded in 1973, Haarslev is a cleantech company that makes processing equipment for organic by-products from slaughterhouses and water purification plants. Its products are applied in various industries, including the meat and bone meal and the fishmeal industries and in the environmental and bio-energy sectors.

The company has around 600 employees and has more than trebled its revenue under Odin Equity’s ownership to around DKK1.1bn (€148m) in the most recent financial year. It has production facilities in Spain, Brazil, Peru and China as well as in the village of Hårslev on the Danish island of Funen.

Odin initially invested an undisclosed amount in Haarslev in 2006. At the time, the company employed 498 people and generated revenues of around DKK900m.

Altor is currently looking to sell its stake in Nordic outdoor clothing maker Helly Hansen to potential suitors including Blackstone and Carlyle, in a deal which could fetch more than NOK2bn ($348m).

A handful of trade buyers are also eyeing the sale, which follows a year after the company sold its subsidiary, Helly Hansen Pro, to Montagu Private Equity for a reported value of NOK800m.

Copyright © 2012 NewNet

Japanese electronics companies Mitsubishi Heavy Industries and Hitachi have been selected as contractors for the Smart Community System Demonstration Project in Spain.

They were chosen by New Energy and Industrial Technology Development Organisation (NEDO) following a feasibility study conducted from March to October last year.

The project will demonstrate various systems necessary for the establishment of a cleaner transport infrastructure. It is aligned with the Malaga smart city programme and is expected to have a budget of around ¥5bn ($65m), lasting from now until 2016.

It will include the installation of high-speed electric vehicle (EV) charging stations, an EV management centre, creation of a smart grid electricity monitoring system, as well as the development if an integrated service system based on the data accumulated by the EV management facility.

Around 40 per cent of Spain’s energy consumption is used in the transport sector, the majority of which relies on fossil fuels. The country is looking to increase the take up of EV, with a target of increasing the number registered to 250,000 by 2014.

Copyright © 2012 NewNet

The Minnesota Public Utilities Commission has unanimously approved a 15-year, 250MW power purchase agreement (PPA) that will see US utility Minnesota Power procure hydro-electricity from Canada’s Manitoba Hydro.

A unique aspect of the PPA is that Minnesota Power will have the ability to store excess wind energy generated in North Dakota at the Canadian hydro facility, maximising the value of the wind resource

The agreement will require new transmission capacity between Manitoba and the US, with the two companies now evaluating potential options to see which is the most cost effective. .

Al Hodnik, president and CEO of Minnesota Power parent company Allete, said, ‘The Commission’s endorsement of this agreement demonstrates that cooperation in energy supply and transmission planning can cross state and national boundaries in the interest of meeting a changing North American energy landscape. The transmission build required to deliver this carbon-free energy to Minnesota Power’s service territory presents Allete with yet another significant capital investment opportunity as we execute our multi-faceted, multi-year growth strategy.’.

Copyright © 2012 NewNet

Biorefinery developer Zeachem has received a conditional commitment for a $232.5m loan guarantee from the USDA’s Biorefinery Assistance Program.

A statement by the company said the conditional commitment will enable the financing and construction of ZeaChem’s first commercial-scale cellulosic biorefinery, which will produce biobased fuels and chemicals from woody biomass and agricultural residues.

The facility, to be located at the Port of Marrow in Oregon, is expected to have a capacity of 25 million gallons-per-year.

‘The USDA loan guarantee is a significant validation for ZeaChem’s highly efficient, economical and flexible biorefinery technology,’ said Jim Imbler, president and chief executive officer of ZeaChem.

‘This commitment allows us to move forward with securing financing, beginning construction, creating jobs in the community, and producing economical and sustainable products for the fuel and chemical industries.’

ZeaChem’s first commercial facility will create 188 direct construction jobs and 65 full-time operations jobs.

Copyright © 2012 NewNet

A major European utility has revealed that it is keen to work with partners as it looks to realign its onshore wind interests.

Speaking in London today, the most senior finance officer at E.ON Climate and Renewables said the company’s M&A pipeline is not as aggressive as it was three to four years ago but the business was constantly realigning its interests.

In the wind space, this means moving away from the traditional own and operate model.

Cord Landsmann, CFO at E.ON Climate and Renewables, said, ‘We want to be the operator of onshore wind projects but we don’t always want to have to be the operator of hem.’

He said, however, that E.ON was not keen to jump into deals with private equity firms.

‘It is not a private equity game. I don’t want to turn my company into an M&A company. We are a renewables company but we want partnerships. We are actively looking for and developing partnerships.’

He said one of businesses main agendas at present is bolstering its onshore presence but alliances in this space are less easy to structure. ‘Here, we find it hard to determine the right partnership models.’

Copyright © 2012 NewNet

A New Zealand-based biofuels developer is reportedly looking to list on its home exchange in the second half of the

LanzaTech CEO Jennifer Holmgren told the New Zealand Herald that it was considering undertaking an initial public offering in the latter half of the year if the market proved ‘ready’.

Earlier this week, the company announced that it had secured $55m of investment as part of its Series C fundraising worth $55.8m. The round was led by Malaysian Life Sciences Capital Fund and included the venture capital arm of oil company Petronas and oil and gas technical service provider the Dialog Group as new investors.

A report by the Herald said that the firm would not be able to go ahead with the IPO until it had proven the technology at a demonstration facility being commissioned at a Chinese steel plant.

In addition, Holmgren said the company was thinking ‘very seriously’ about floating on multiple exchanges.

The company’s longstanding investors include Khosla, Qiming Venture Partners and K1W1 also participated in the round. To date, LanzaTech has raised more than $85m.

Copyright © 2012 NewNet

Canadian Solar has been contracted by Middle East conglomerate the Al Fahad Group to supply 1.5MW of photovoltaic (PV) panels.

The modules will be used in a government-backed project in Abu Dhabi, one of the largest solar ventures in the country.

Khaled Obaid Al Othman Al Ali, CEO of AL Fahad Group, said, ‘What convinced us to choose Canadian Solar was its proven performance and reliability, high quality and commitment to excellence. High performance under our challenging local climate parameters was at the forefront of our selection process. Additionally, we focus on long-term relationships with trustworthy partners.’

Shawn Qu, Chairman and CEO of Canadian Solar, added, ‘We are very proud about our agreement with Al Fahad Group, one of the most important companies for renewable energies in the Emirates, and excited to further build our presence together in the important Middle East market for high value, sustainable energy solutions. Our leadership, quality and cost benefits enable us to work with the best partners in key markets worldwide.’

Copyright © 2012 NewNet

A US agricultural and biofuels specialist has priced its initial public offering (IPO) and looks set to be the second cleantech listing of 2012.

In documents filed with the Securities & Exchange Commission, Ceres said it expects to receive net proceeds from the offering of $97.8m, based on an assumed IPO of $22 per share, which is the midpoint of the range it has set.

The company is focused on selling seeds to produce renewable bioenergy feedstocks. It uses a combination of advanced plant breeding and biotechnology to develop new crops.

Ceres said its competitive strengths lie in the fact it has commercially available products including sweet sorghum, switchgrass and high biomass sorghum and that it has fostered innovative research and development programmes.

A statement said, ‘We have received the necessary governmental variety registrations for the sweet sorghum varieties we are marketing in Brazil, and we have sold enough seed to plant greater than 3,000 hectares of our sweet sorghum hybrids for the 2011 to 2012 growing season.’

In addition, it said it believes that it has an attractive business model. ‘Seed businesses traditionally incur significant research and development expenditures and have long product development time lines, but benefit from a combination of high gross margins, low capital expenditure requirements and intellectual property protection. We believe we can position our business to take advantage of low production costs relative to the high value of our products to our customers.’

The company first revealed its intention to list in May when it set a target raise of $100m. Artal Luxembourg holds an 18 per cent stake in the company, while Warburg holds a 15.5 per cent share of the company. Other significant shareholders include Oxford Bioscience, Gimv, Oppenheimer Growth and agricultural technology giant Monsanto.

Copyright © 2012 NewNet

Malaysian manufacturing company KNM Group Berhad has signed an agreement with UK property manager Poplar Holdings to purchase land in Peterborough where a waste-to-energy project is set to be constructed.

The agreement will see KNM officially take ownership of the 80MW EnergyPark Peterborough development in February. This follows a £450m deal signed in 2010 with project developer Green Energy Parks for the engineering, procurement and construction of the facility.

This latest agreement should allow KNM to begin construction at the site in the near future.

Chris Williams, managing director of Green Energy Parks, said, ‘In KNM Group Berhad we have found a partner who shares our ethos, drive and ambition to deliver a landfill free future. Together, we look forward to breaking ground and getting the construction phase under way.’

Lee Swee Eng, chairman and CEO of KNM, added, ‘This is a ground-breaking project which will mark an important development in the way that waste is dealt with in the UK and we are incredibly excited at the prospect of having a partnership with Green Energy Parks, which forms a significant part of our drive into the renewable and clean energy sector.’

Copyright © 2012 NewNet

US utility Southwestern Electric Power (SWEPCO) has signed long-term power purchase agreements for 358.65MW of renewable electricity from wind projects in Texas, Oklahoma and Kansas.

The agreements will increase the company’s wind energy portfolio more than four times when included with an existing 49.2MW deal signed with the Oklahoma Power Authority.

The latest contracts includes three projects in Oklahoma being developed by Apex Wind with a generating capacity of 201.25MW, a 79.6MW facility in Texas owned by NextEra Energy and a plant in Kansas owned by BP Wind Energy and Sempra.

Venita McCellon-Allen, president and CEO of SWEPCO, said, ‘Through the Louisiana Public Service Commission’s recent renewable energy pilot programme and our ongoing efforts to expand our renewable energy portfolio, we were in a good position to pursue additional renewable resources at a good price for customers. I’m pleased that we could secure these agreements in a fairly short time frame to put more wind power to work for our customers.’

Nicholas Akins, president and CEO of Southwestern parent company American Electric Power, added, ‘With these long-term power purchase agreements, we have added a substantial amount of wind energy to serve SWEPCO customers in Arkansas, Louisiana and Texas, and we have combined efforts with a Turk Plant partner to exceed the 400MW commitment in our Turk Plant settlement.’

Copyright © 2012 NewNet

US alternative fuels company Allard Energy has chosen Synenergy to distribute its bio-refining technology throughout the Midwest.

Under terms of the deal, Synenergy holds the exclusive license to distribute Allard equipment in the states of Michigan, Illinois, Indiana and Ohio.

In addition, Allard will provide research, development and manufacturing services to support Synenergy’s distribution of ethanol production refineries and related products.

Tom Burgess, General Manager of Synenergy, said, ‘We are excited to distribute Allard Energy’s world-class refineries and cutting edge technologies with capacities that support a distributed fuel model. Keeping feedstock, ethanol production, and ethanol distribution local is the future of a sustainable fuel production model. Allard Energy’s advanced technologies and product line provides an opportunity for the small to medium sized entrepreneur to transform waste management related issues into a profit centre.’

Sharon Allard, CEO of Allard Energy, added, ‘We are excited to have Synenergy as a distributor of our refineries and look forward to a productive alliance with them. They bring strong sales and marketing teams as well as engineering expertise to sell and service our refineries.’

Copyright © 2012 NewNet

Global IT specialist IBM has formed an agreement with the Vermont Electric Power Company (VELCO) to build a preliminary smart grid system across the state of Vermont in the US.

A fibre communications network covering more than 1,000 miles will connect transmission substations to distribution utilities.

The idea is this will crate the capabilities required for the development of a future smart grid. IBM will provide project management and networking services for the project.

Peter Shumlin, Governor of Vermont, said, ‘This exciting partnership between our statewide transmission company VELCO, and IBM, a global smart grid leader whose Vermont campus is a model in energy efficiency, is an excellent example of how our state innovates. This network will increase grid reliability, enable smart grid communications and help build the economic development platform necessary to create sustainable jobs. It’s another concrete step toward our long-term goal to make Vermont a national model for energy policy – a source of best practices and technical assistance as the smart grid rolls out nationwide.’

Guid Bartels, general manager of IBM’s global energy and utilities industry, added, ‘ IBM is very pleased to collaborate with VELCO and expand its involvement with the state of Vermont to ensure reliable power delivery to its citizens. This new high speed network will allow VELCO to enhance and adapt its services as customer and requirements change. This goal is consistent with our Smarter Planet initiative to help utilities around the world transform their systems to improve customer service delivery.’

Copyright © 2012  NewNet

Danish wind energy company Vestas has received an order in Finland from TuuliWatti for ten turbines.

The units will be used for a 30MW project to be located in the Trevola, Lapland. Delivery is scheduled for September with installation expected to be complete by March 2013.

The contract includes supply, installation and commissioning of the turbines, as well as a six-year management agreement.

Klaus Steen Mortensen, president of Vestas Northern Europe, said, ‘This order is proof of the continuous expansion of wind power in Finland and provides benefits for local Finnish economies and local Finnish suppliers. It also shows the trust Vestas has received from TuuliWatti for yet another V112 project, giving us a leading position in the Finnish market for renewable energy.’

Jari Suominen, managing director of TuuliWatti, added, ‘The Tervola wind power plant will be located 50km away from the sea side. The advanced turbine technology developed by Vestas enables us to build genuine inland wind power plants in Finland. Together with wind power plants under construction in the municipalities of Simo and Ii-Olhava, this new project means an increase of one third to the current wind power capacity in our country.’

Vestas is currently engaged in a restructuring process to cut costs, which could result in more than 2,300 redundancies.

Copyright © 2012 NewNet

Australian alternative materials company Cardia Bioplastics has been contracted to provide three city districts in China with its Biohybrid waste bags.

This follows on from a deal, made at the end of last year, to supply the City of Nanjing with the bags, which are designed to use less oil and have a lower carbon footprint than traditional plastic alternatives.

The orders are part of a six-month trial expected to produce revenue worth A$600,000 ($627,843) for the company, which will serve regions with a combined population of 23 million people.

Jackie Chen, Cardia director and head of Chinese operations, said, ‘The Cardia range of renewable Biohybrid and certified compostable products also meet the Chinese packaging regulations, enacted in June 2008. Our Nanjing manufacturing business is one of the few Chinese companies awarded with the prestigious China Environmental Label. This is further validation not just of the rapidly increasing market for bioplastics products, but also of Cardia’s excellent government relationships in China, following from our supplying the 2008 Beijing Olympics, Paralympics and 2010 Shanghai World Expo.’

Copyright © 2012 NewNet

German car maker BMW has partnered with US IT specialist Tendril to build a demonstration smart energy home in California.

The project is in preparation for the roll-out of BMW’s new electric vehicle (EV) offering, which is designed to emphasise sustainable mobility. The house will showcase Tendril’s platform-based approach to creating an ‘energy internet’, connecting smart products such as EVs with utilities and consumers.

Dirk Rossberg, head of the BMW Group Technology Office US, said, ‘Customer satisfaction is at the forefront of everything we do, and this smart energy home demonstration will help ensure that connecting and charging EVs is as simple as possible for our customers. Tendril’s cloud platform allows us to control the EV charging process in conjunction with a smart energy home environment and adds a simple, yet powerful consumer energy management application in Tendril Energize. It allows us to bring the connected vehicle together with the smart grid.’

Adrian Tuck, CEO at Tendril, added, ‘Tendril Connect and Tendril Energize were purpose-built to help utilities, consumers and third party partners adapt and manage the changes coming in the energy industry, including those necessary for the roll-out of EVs. We are excited to be working with such a prestigious brand in the automotive world. I’m confident our technology will provide the best possible experience to ensure users can easily make the best decisions related to monitoring, understanding and managing their EVs’ energy consumption and that utilities can optimise the grid.’

Copyright © 2012 NewNet

A Canada-based biofuels company has appointed a finance adviser as it looks to secure equity investment to fund the completion of its first plant.

Core BioFuel, a Canadian company that looks to target both the European and North American markets, has signed an agreement with Osprey Capital Partners to secure an equity investment to fund the construction of its first wood-to-biofuel plant.

Once the investment is secured it will enable Core to establish an engineering, procurement and construction contract with an international oil and gas engineering company, which will then define a fixed plant cost.

This contract will enable Core to secure project debt financing as well as performance guarantees.

Alan Crossley will be leading Osprey’s work for Core. He said, ‘The fact that Core will be producing a zero-carbon-based, market ready gasoline using existing technologies; has secured an off-take agreement; and has a significant competitive market advantage in terms of production costs –all will make this an excellent investment opportunity. Osprey has seen a significant number of biobased fuel projects. We believe Core BioFuel will become the market leader.’

A statement on the company’s website said that in 2009 Core BioFuel established Core Limited Partnership in order to provide a structure for accredited investors to commit capital to.

Phase 1 of this offering was fully subscribed and it is this second offering that now remains open.

Earlier this month, CFO Donald Sigler was appointed to the board of directors. Sigler joined Core in 2010 and was critical in guiding the company through the initial funding of its patent-pending green gasoline process.

Copyright © 2012 NewNet