GE has acquired Calnetix, a company that takes waste heat from industrial processes and converts it into electricity. In a release, GE forecasted the waste-to-energy sector as future $1 billion industry, and said it had also acquired intellectual property from Calnetix to help it begin offerings in that space. Calnetix will be integrated with GE’s Jenbacher gas engine business based in Austria.
Smart meter Elster had its IPO on Thursday, and shares opened above initial offering price at $13.75 on the NYSE, Reuters reports. Later that day, shares rose 9.8 percent to $14.27, and as of this morning are trading at $13.95. The German company sold 16.2 million shares for $13 each, raising $210.6 million. The company initially filed to sell the stocks between $16 to $18. Biofuels company Amyris also had its IPO earlier this week – shares have held steady in trading, though the company also priced initial offering below the originally planned range.More competition from China and high barriers to entry will keep new entrants from the growing solar market, CMEA’s Faysal Sohail told Reuters. The solar market is expected to grow 30 percent per year globally, but major players like Sharp, First Solar and Suntech (the company’s Beijing National Stadium project is pictured at left) will likely take the cake in sales.
Intel released yesterday a reference design centered on the Intel Atom processor for manufacturers who want to make home energy management devices. Utility company Energy Australia will be among the first to use this design with a combination of Intel chips and Grid Net software. Earth2Tech notes this is Intel’s play for a piece the home energy management market.
VantagePoint will be one of five cornerstone investors in the Hong Kong IPO next month for Goldwind, a Chinese wind turbine manufacturer. This investment is VantagePoint’s largest in a Chinese company to date. Goldwind is the fifth-largest wind turbine maker in the world, and held about 7 percent of the overall market in 2009. VantagePoint announced earlier this month the creation of a $100 million cleantech fund dedicated to China investing.
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