Here’s the latest action in green technology (updated):
Phoenix Motorcars, latest electric vehicle company — The Rancho Cucamonga, Calif., company makes electric SUVs and SUTs that can get 130 miles from a 10-minute charge, and is close to signing a $15 million first round of capital from investors Kleiner Perkins Caufield & Byers, Virgin Fuels and AES Corporation, according to PEHub. The vehicle’s top speed is 95mph, with an expected retail price of $45k . Consumer sales expected next year. Ray Lane, who led the deal for Kleiner, did not respond to request for comment. Pre-money valuation expected at $10 to $20 million. PeHub says the company originally planned to raise $100 million (see doc: Phoenix.pdf)
(Update: We’re told by a source close to this investment group that this report is inaccurate. He didn’t specify in what way. We should have more).
California Treasurer Bill Lockyer calls for $3.5 billion investment in solar energy — His proposal is part of a $5 billion bond package to green state government buildings, expand use of renewable energy, increase energy efficiency and spur innovation and cost-reduction in California’s green technology industry.
Canadian solar cell manufacturer, Photowatt, withdraws IPO, citing unfavorable conditions — See story here.
Green consolidation — The Cleantech Network, a cleantech research and event group, has expanded into publishing with the acquisition of industry trade publication Inside Greentech. There’s a summary of the deals so far in this area here.
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