A sunny day for Google, invests $94M in solar power projects
While the implosion of solar power company Solyndra has seemingly cast a shadow on the viability of the solar industry, that hasn’t stopped Google from investing $94 million in photovoltaic (generating power through solar radiation) projects in California.
Google says it’s investing the funds in four photovoltaic projects near Sacramento, Calif. which are being built by Recurrent Energy. The investment brings Google’s total clean tech portfolio to over $915 million. At this rate, Google’s clean … Continue Reading
Bill Gates: The good thing about nuclear power is its lack of innovation
Despite the trouble with Japan’s Fukushima nuclear power plant following that country’s devastating earthquake, Microsoft co-founder and Chairman Bill Gates still hasn’t given up on nuclear power.
In a conversation with Wired Editor-in-Chief Chris Anderson today at the magazine’s third annual Business Conference, Gates said that one of the best aspects of nuclear power at the moment is its lack of innovation thus far, which leaves it ripe for disruption in the coming years.
When … Continue Reading
On the GreenBeat: Solar and wind stocks jump, cleantech funding rose in 2010
Here’s what’s happening today on the GreenBeat:
Wind and solar stocks jump in wake of Japanese nuclear crisis. Shares of
clean energy equipment makers are rising as much as 27 percent for the second day in a row. Analysts speculate that the meltdown in Japan has permanently changed the value of nuclear for the worse.
Investments in US cleantech companies rose 46 percent to $5.1 billion in 2010. Research firm Clean Edge also said that … Continue Reading
Solar financing in U.S. going strong for now, but 2012 question looms
Government incentives and a rich pool of investors will make this a good year for solar projects, but one big question lingers — what will happen in 2012?
“There’s a tremendous pool of capital out there … a deep and liquid capital market for renewable projects,” solar developer Recurrent Energy’s CEO Arno Harris told VentureBeat recently. “The rub is that we’ve got some policy issues that may make it difficult to tap those markets.”
Last … Continue Reading
On the GreenBeat: PlugShare app finds car chargers, Suntech beats First Solar in panel production
Here’s the latest action we’re following today on the GreenBeat:
Transphorm unveils first product — The company unstealthed last month with $38 million backing from investors like Google Ventures and Kleiner Perkins, showing off technology that can save energy losses that happen when power is converted from one form to another (which happens in almost everything that uses electricity). It announced its first product today, power diodes based on its gallium nitride technology, which promises … Continue Reading
On the GreenBeat: Solyndra's star fades, admits to mistakes; Khosla says new biofuel IPO coming
Here’s the latest action we’re following today on the GreenBeat:
Solyndra star fades, admits to mistakes — Once-bright rooftop solar startup Solyndra (pictured) has had its share of troubles lately. After raising $1 billion, the company was forced to slash costs, close a factory and cancel an IPO. Now its $535 million loan guarantee from the Department of Energy is under investigation by Congress. Its recent $75 million secured debt round forced several equity investors … Continue Reading
On the GreenBeat: Nexterra bags $15M for biomass power, Johnson Controls make $32.3M smart grid buy
Here’s the latest action we’re following today on the GreenBeat:
Nexterra Systems raises $15M for biomass power — The Candian company raised the cash from ARC financial and Tandem Expansion Fund. It makes small-scale biomass gasification systems that generate renewable heat and power systems. The company’s clients include the U.S. Department of Energy and Johnson Controls. It also has strategic relationships with GE and Johnson Controls. The cash will go towards market expansion.
Johnson Controls … Continue Reading
On the GreenBeat: Coda wants to sell 50,000 electric cars by 2015, Powerit raises $5M
Here’s the latest action we’re following today on the GreenBeat:
Coda aims to sell 50,000 electric cars by 2015 — The clean-wheeling startup recently hired a new chief executive and former GM executive Phil Murtaugh, who told reporters of its lofty sales goals for its electric sedan. While there’s been some skepticism about the car’s potential given a high price tag compared to the similar and better-known Nissan Leaf, Coda has said in the past … Continue Reading
How solar and oil can coexist in Saudi Arabia
Oil-rich Saudi Arabia wants to become an exporter of solar.
Yup, that’s right. The country’s oil minister confirmed Saudi Arabia’s solar ambitions last year and said the country has the potential to export power, not just oil. So far it seems to be moving on that promise. The Saudi Arabia-South Korea joint venture Polysilicon Technology Co. said this week it had signed a $380 million deal to build a $1.5 billion plant for manufacturing polysilicon, … Continue Reading
On the GreenBeat: Warren Buffet, wind king? 1366 raises $28M; Soliant suspends operations
Here’s the latest action we’re following today on the GreenBeat:
1366 raises $28.4 million for cheaper wafers – Silicon wafer startup 1366 has raised $28.4 million in capital from investors that include GE Energy Financial Services, VantagePoint Venture Partners and Hanwha Chemical. It is an $8 million addition to $20 million raised last year. The company can directly convert molten silicon to wafers, which reduces costs, waste and time compared to slicing wafers off an … Continue Reading
On the GreenBeat: Solyndra raises $75M credit facility, Reno's wind experiment
Here’s the latest action we’re following on the GreenBeat today:
Solyndra raises $75 million in credit facility – The solar manufacturer’s latest round of financing to shore up its capital needs come in the form of a secured credit facility underwritten by existing investors. The company makes cylindrical solar rooftop systems and is a now-controversial recipient of a $535 million loan guarantee from the Department of Energy. The company’s president and CEO Brian Harrison released … Continue Reading
More investors for renewables: BlackRock and NTR team up
Good news for green entrepreneurs: There’s a handful of new investment funds forming that have their eye on cleantech investing.
Today, investment firm BlackRock and European renewables company NTR said they would team up to launch a new renewable power investment group. NTR’s CEO Jim Barry will take the role of chief investment officer on the BlackRock Alternative Investors platform, which currently manages over $110 billion in a range of assets. BlackRock recently led a … Continue Reading
On the GreenBeat: Geothermal wins $96.8M loan guarantee, ethanol could suffer in national budget cuts
Here’s the latest action we’re following today on the GreenBeat:
Oregon geothermal project wins $96.8 million loan guarantee – The Department of Energy has finalized a loan guarantee to a project sponsored by U.S. Geothermal. The funds will go to back the construction of a 23 megawatt geothermal power project in southeastern Oregon, known as Neal Hot Springs.
Germany cuts solar subsidies by 15 percent — The cuts came six months earlier than planned, according … Continue Reading
Minus a partner, Accel puts energy in China cleantech
Updated
Accel Partners is planning to raise $2 billion in new funds and invest more broadly into energy opportunities in China, VentureBeat has learned, even as Peter Wagner, the man who led its cleantech efforts, is leaving the company.
The venture capital firm behind investments like Facebook and Groupon is looking to raise $1 billion for two China funds, one for early-stage investments, the other for later-stage opportunities. With those funds, Accel is eying opportunities … Continue Reading
Solyndra and government support for cleantech under fire
As public and political eyes turn to the federal budget and cost-cutting, Silicon Valley startups backed by Department of Energy loan guarantees and grants are coming under scrutiny.
Solar cell company Solyndra is at the front of this. There’s a planned Congressional investigation to evaluate whether Solyndra was an appropriate candidate for the $535 million loan guarantee it received. Since winning the loan guarantee, the company has laid off workers, cancelled an IPO and closed … Continue Reading
MiaSole reportedly raises $125M for solar, IPO question hangs
Thin-film solar panel maker MiaSole has reportedly raised $125 million in sixth round of equity financing.
The round values the company at less than half it was in 2008, dropping from a $1.2 billion pre-money valuation in 2008 to a $550 million valuation today, according to a source cited by VentureWire.
The company has been said to be preparing for an IPO this year (and was last reported to be looking to raise $100 million, … Continue Reading
SoloPower wins $197 million loan guarantee for solar panel factory
Updated
The Department of Energy has granted a $197 million loan guarantee to SoloPower for the building of a thin-film solar panel manufacturing facility in Wilsonville, Ore.
This marks a big win for SoloPower, which is coming off several weeks of progress related to the plant. In January, the company raised $51 million in a fourth round of funding, then announced the Oregon Department of Energy granted it a $20 million loan. It also shows … Continue Reading
On the GreenBeat: Abengoa to build bioethanol plant; Solar demand stronger than expected this quarter
Here’s the latest action we’re following today on the GreenBeat:
Abengoa to build biofuels plant in Kansas — Spanish multinational corporation Abegnoa said today it will build a 26.4 million-gallon capacity bioethanol plant in Hugoton, Kansas. It is the largest commercial bioethanol production plant using biomass to date and is being jointly developed with the Department of Energy, and will use maize straw and wheat as feedstock. The company is behind a solar thermal plant … Continue Reading
SolarCity makes another buy, outlines expansion plans
SolarCity has expanded again.
For the second time this year, the residential solar company has made an acquisition to expand its business on the East Coast. The company said today it purchased the residential solar installation division of GroSolar to move into Massachusetts, New Jersey, New York and Pennsylvania — raising its nationwide footprint to 10 states and 21 operations centers.
Interestingly, the acquisition isn’t just about reaching more markets — it’s about staying competitive … Continue Reading
On the GreenBeat: Tessera sells Imperial Valley Solar project, Tesla posts fourth-quarter losses
Here’s the latest action we’re following today on the GreenBeat:
Tesla posts losses for fourth quarter — Electric car company Tesla released its fourth-quarter and 2010 earnings yesterday and said it would be looking to raise another $150 million to develop its all-electric SUV concept the Model X. The company posted $51.4 million in losses last quarter, up from $24.2 million in the fourth quarter of 2009. Revenues increased from $36.3 million for the fourth … Continue Reading
