Monday, October 19th, 2009
Ormat Technologies, Inc., announced today that its Israeli subsidiary, Ormat Systems Ltd., has signed a Joint Venture Agreement (“JVA”) with Sunday Energy Ltd. (“Sunday”), an Israeli solar integration company, to construct and operate solar-photovoltaic (“PV”) energy systems in Israel with a total capacity of 36 megawatts (MW).
Under the JVA, Sunday will contribute the rights to all of its property and roofs required to develop solar energy systems above 1 MW to special purpose entities (“SPEs”). Ormat will own 70% of each SPE and will also have control of it. Under the terms of the agreement, Ormat and Sunday will act, jointly, as the engineering, procurement and construction (“EPC”) contractor and the operator of each project in accordance with each company share in the SPEs .
Friday, October 16th, 2009
There had been rumors about it earlier this weeks on Globes, Israel’s financial newspaper. But the story was took down, I guess because of a leak.
Now General Electric has unveiled its good news finally, according to ABC News, that it is investing in the Israeli solar technology company SolarEdge. The company allows photovoltaic panels, which convert sunlight into power, to operate up to 25% more efficiently.
Tuesday, October 13th, 2009
Does that headline grab you? If not, these numbers should:
$600 million: the amount Exxon has pledged to invest in a partnership with Synthetic Genomics
$10 million: the amount BP has invested in Martek Biosciences
25 percent: the percentage of gasoline that will be replaced by biofuels by 2030, according to BP
36 billion gallons: biofuels to be produced in the United States by 2022, as mandated by the U.S. Renewable Fuels Standard.
If that has not grabbed your attention yet, consider that in January of this year, Continental Airlines completed a test flight using a biofuel mixture, which included fuel derived from algae. The test flight yielded a 1.1 percent increase in fuel efficiency compared to a jet engine using traditional jet fuel.
That isn’t exactly a great leap forward, but achieving incremental increases in fuel efficiency coupled with the latest engine technology, as well as use of new materials in aircraft production, such as the Boeing 787, could signal a dynamic shift for the airline industry. (more…)
Thursday, October 8th, 2009
Slow down, high-speed rail seekers. In the race for stimulus money, the Obama administration has received applications from 24 states requesting $50 billion for high-speed rail projects, reports The New York Times.
That’s more than six times the amount of money designated. Joseph Szabo, head of the Federal Railroad Administration, told the Times that the selections will be merit based, and will be made this winter.
The Salt Lake Tribune reports that Utah Sen. Bob Bennett is involved in a fickle love affair with stimulus money. Two days before the Republican senator voted against the nearly $800 billion package – which he said would only stimulate the national debt – Bennett wrote to Energy Secretary Steven Chu asking him to pay special attention to a few projects in Utah. He wasn’t alone, reports the Tribune. All four of Utah’s Republicans in Congress voted against the bill, before using congressional stationery to try to nab a portion of the stimulus package for their state. (more…)
Monday, October 5th, 2009
A “plucky little” country is how the late Princess Diana once described Israel to Shimon Peres. About the size of New Jersey, Israel has a disproportionate number of clean tech companies and investment in clean technology compared to its size.
And now U.S. businessman and investor David Anthony from 21Ventures (at left) is about to reveal his trade secrets and insider information about clean tech investing in Israel.
If you are itching to become a clean tech entrepreneur in Israel, this is must-read information. If you’d like to know more about what makes the industry tick, read on.
Unlike Silicon Valley and the high-tech industry, the clean tech market today has no center of excellence, Anthony tells Green Prophet. In the last 50 years of venture capital investing there has been a saying, “Never fly over your company,” meaning one shouldn’t invest in a company that isn’t within a 60 mile radius of the office.
Wednesday, September 30th, 2009
Thank billions in government funding for helping to lift clean technology investment in the third quarter, said the Cleantech Group and Deloitte in a report Wednesday.
The quarterly analysis reiterated that the recession has kicked but not killed investments in this sector, which remain down 42 percent from the third quarter of 2008. Biotech and IT combined receive less funding than clean tech, which continues its climb from the second quarter, the report noted.
“The two largest venture deals (Solyndra and Tesla Motors) and the largest IPO (A123Systems) this quarter were all recipients of U.S. government funding,” said Cleantech Group managing director Dallas Kachan in a statement.
Friday, September 25th, 2009
The U.S. Department of Energy has granted a $43 million loan to a Massachusetts-based company to prove the value of a new technology in which spinning flywheels are used to improve the efficiency of the electric grid. Beacon Power Corp. will build a 20-megawatt flywheel plant in upstate New York in which flywheels spinning up to 16,000 times per minute will act as a sort of short-term power storage system for the state’s electrical distribution system, according to the Associated Press.
Thursday, September 10th, 2009
U.S.-based First Solar has signed an agreement with the Chinese government to build the world’s largest photovoltaic power plant in Inner Mongolia. By 2019, the plant is expected to produce 2,000 megawatts of electricity, which the company said would be sufficient to power three million Chinese homes.
The deal for the 16,000-acre plant, to be located in Ordos City, solidifies China’s position as the global leader in developing renewable energy, and further boosts the prospects of First Solar, the world’s largest photovoltaic cell manufacturer.
Wednesday, September 2nd, 2009
Clean tech companies hoping to capitalize on the 30% Advanced Energy Manufacturing Tax Credit (48C) for re-quipping, expanding, or establishing a manufacturing facility must submit a preliminary application for Department of Energy (DOE) recommendation by September 16, 2009. The federal government has allocated $2.3 billion for this credit. If the limitation is reached during the first allocation round (2009-2010), then no further credit will be permitted.
Monday, August 17th, 2009
The NATO Science for Peace Program and the Middle East Desalination Research Center (MEDRC) recently awarded grants to researchers at Ben Gurion University of the Negev to continue working on a novel desalination method. In a region where potable water sources are so scarce, these methods are crucial to water independence and reducing reliance upon imported water sources (which require a lot of fossil fuels).
The team, lead by Dr. Jack Gilron (Zuckerberg Institute for Water Research) and Professor Eli Korin (Department of Chemical Engineering), has developed a desalination method by reverse osmosis that exploits “the finite kinetics of membrane fouling processes by periodically changing the conditions leading to membrane fouling before it can occur.”