Green

On the GreenBeat: Bridgelux raises $21 million, Nissan says it’ll deliver Leafs by summer

Here’s the latest action we’re following today on the GreenBeat:

Bridgelux raises $21 million — According to an SEC filing, the LED company has raised $20.7 million of a $21 million fundraising goal. The company recently announced a new line of LEDs that it said doubled the light output of commercially available products today, making its line usable in retail-type settings. It also nabbed a deal with major electronics manufacturer Tyco, which will fold Bridgelux’s new products into a set of lighting components designed for a retail setting.

Nissan to deliver Leafs by summer — The company has delivered only around 100 of its all-electric cars to the U.S. but says it is ramping up production in March and April and plans to satisfy all orders by the end of the summer. Of the 20,000 customers who’ve reserved a Leaf, 40 percent have decided to buy the car, which would mean Nissan has sold about 8,000 cars, Reuters writes. Autoblog Green reports the ramp up will entail Nissan producing 4,000 cars a month by March and notes that 981 Leafs — the bulk of the 1,100 or so sold so far — have been delivered to Japanese customers.

Solar stocks drop on oversupply worries — Shares of solar companies dropped today, which Bloomberg attributes to a warning from an analyst that 2011 could see an oversupply in the solar market. While North American demand for solar is expected to exceed supply, Wedbush Securities analyst Christine Hersey said it wouldn’t be enough to make up for a slowdown in European demand. Demand from Europe and in particular Germany has made up a huge portion of global demand in the past.

Obama to propose electric car tax credit to dealers — The president called for one million electric cars on the roads by 2015, and this proposed initiative would give electric car buyers the $7,500 federal tax credit when they buy, rather than when they file their taxes, as is currently the case.