A123 and Imperium exemplify the boom and bust of cleantech
There’s a bad moon on the rise for Imperium Renewables. The biodiesel maker has lost a major contract that was one of the lynchpins holding the company together, according to the Seattle PI’s John Cook, who has been chronicling the company’s rise and fall.
Imperium, as you may recall, is a biofuel startup founded in 2004. It hit a growth streak in 2006 and secured a massive $113 million investment the following year, as hype grew… Continue Reading
Roundup: Supreme Court’s new patent ruling, gas prices at record, multiple services give up the ghost, and more
Supreme Court gives supply chains protection from patents — In a notable ruling today, the Supreme Court has ruled that patent holders can’t demand royalties from supply chain customers who bought products from license-holders further up the chain. The decision should help reduce “patent exhaustion” in the system, not to mention the overall level of silliness.
Gas hits record $4 average, but cleantech may not always benefit — Average gas prices across the country have reached the psychological… Continue Reading
Cleantech roundup: Martin Tobias out at Imperium, solar’s grand future, and more
If, like us, you took some time off during the past week, you’ve missed a few cleantech news items. To help out, we’ve assembled a quick catch-me-up on a few interesting or significant stories:
1) Martin Tobias out at Imperium Renewables
2) The grand plan for solar in 2050
3) Companies prove cleantech can stand alone
4) Ethos plans ethanol production in South America
5) Asphalt used as a cheap solar cell
6) New Tesla CEO posts open letter
Martin Tobias out… Continue Reading
Biodiesel maker, Imperium Renewables, files for IPO amid growing losses
Imperium Renewables, a biodiesel maker in Seattle, Wa, filed for an initial public offering to raise up to $345 million, the latest sign of heat in the green technology industry.
This was expected. See the filing here.
Note that the company had an operating loss of more than $3.4 million in the three months ending March 31, and a net loss of almost $3 million. Note too that the cost it incurs for its revenues (”cost… Continue Reading
Green, the new boom
The excitement among green technology investors continues in the wake of the Supreme Court ruling earlier this month on climate change, and Rob Day has a good summary of the latest chatter.
“People are comparing it to the Internet boom of 1999,” said one green entrepreneur to the Washington Post, about the ruling, which gives finally gives Congress the right to regulate climate change.
In the majority opinion written by Justice John Paul Stevens, the court said… Continue Reading
Whopping $113M round for biodiesel company, Imperium
Biodiesel company Imperium Renewables, of Seattle, said it has raised $113 million in equity financing and is wrapping up a $101 million line of credit, continuing the massive injection of capital into the alternative fuel sector.
The financing of Imperium, run by former Microsoft executive and venture capitalist, Martin Tobias, is believed to be the biggest private equity investment in the sector to date.
The company said Société Générale is arranging the credit financing.
From the statement:
The… Continue Reading