Green Options

Asia is investing hundreds of billions of dollars more than the US in clean technology, according to a new report by two research institutions. In the future, the US may be importing trillions of dollars of needed clean technology (and losing countless jobs to Asia) as a result.

In total, the report showed that China, Japan, and South Korea will invest about $509 billion in clean tech over the next 5 years, whereas the US (with our greenest President in decades, maybe ever) is only expected to invest $172 billion (about 3 times less) — this is assuming the climate and energy legislation in Congress passes.

If the US were to invest the same percentage of its Gross Domestic Product (GDP) as South Korea, it would invest almost $140 billion per year ($700 billion over this five year period)! Compared to China, the anticipated per-GDP investment ratio is 1:4 (US to China).

In 2008, Japan almost matched US R&D spending on energy and achieved almost the same number of international clean energy patents despite having dramatically lower GDP.

The financial investment is not the only thing giving these countries a major advantage in this field, though.

A new survey shows that 92% of Americans think developing and using solar power is important. The results cross political boundaries and favor solar over all other energy sources.

Clean tech has passed biotech and IT as the top venture capital (VC) investment category in the world. This is after investments in leading clean tech markets increased by 10% in the third quarter of this year.

Cleantech Group released findings on Wednesday showing that the cleantech sector “accumulated $1.59 billion across 134 companies” and this was 10% more than the $1.2 billion it had accumulated in the second quarter.

French energy minister Jean-Louis Borloo will announce a plan on Thursday for the country to invest 1 billion Euros ($1.46 billion US) in the infrastructure needed to encourage the adoption of electric cars. That investment will buy 4.4 million charging stations, upgrade the power grid, purchase a government fleet of electric cars, and provide subsidies to EV buyers and auto manufacturers.

France hopes that this amount of investment will be enough to get 2 million electric cars on its roads within 10 years.

Even a year gone since the failure of Lehman, fundamental questions remain regarding the core underlying assumptions of our financial system.

Though currently derivatives trading and black boxes appear out of favour, what will replace them in terms of helpful and productive uses of capital still has yet to be determined. This question was what the Conference on Social Capital Market’s, or SoCap09 tried to give some structure to; while the trend towards sustainable investments and long-term ROI seems to have taken the place of actively managed funds seeking 20x returns.

Even a year gone since the failure of Lehman, fundamental questions remain regarding the core underlying assumptions of our financial system. Though currently derivatives trading and black boxes appear out of favour, what will replace them in terms of helpful and productive uses of capital still has yet to be determined. This question was what the Conference on Social Capital Market’s, or SoCap09 tried to give some structure to; while the trend towards sustainable investments and long-term ROI seems to have taken the place of actively managed funds seeking 20x returns.

Even a year gone since the failure of Lehman, fundamental questions remain regarding the core underlying assumptions of our financial system. Though currently derivatives trading and black boxes appear out of favour, what will replace them in terms of helpful and productive uses of capital still has yet to be determined. This question was what the Conference on Social Capital Market’s, or SoCap09 tried to give some structure to; while [...]

Santa Monica, California-based EV start-up Coda Automotive has raised a cool $24 Million to support the development and 2010 California market entry of its all-electric sedan and funding of its battery manufacturing joint venture.

The funds came after a successful bid under the Series B Investment Round, backed by a team including former U.S. Treasury Secretary Henry M. Paulson, Jr. & Farallon Capital Founder Thomas F. Steyer.

In a press release Kevin Czinger, president and CEO, Coda Automotive said, “Coda’s ability to raise capital under challenging market conditions and the caliber of our investors attest to the strength of our business model (video) and the opportunity that exists in the electric car and battery sectors.”

Major US renewables company Astonfield is set to invest a massive $2 billion in India over the next five years, the largest single cash-injection in renewable energy ever seen in the sub-continent.

The deal will generate about 1,000 MW of power, most of it from solar sources.

Much of the proposed $2 billion investment will go towards building solar-photovoltaic powered projects with a capacity of 500 MW.

Electric transport and infrastructure company ECOtality has made a move to expand its manufacturing and distribution operations for electric vehicle charging systems in China by entering into a joint venture with the Chinese firm Shenzhen Goch Investment to establish a manufacturing base in China.

In return for a $10 million investment, Shenzhen Goch Investment will have exclusive sale and distribution rights for ECOtality’s charging stations in China.

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South Korea yesterday announced plans to invest a staggering Won107,000bn ($85 billion) on ‘green growth’ industries over the next five years.

The government predicts the unprecedented cash-injection, around 2 per cent of the country’s entire gross domestic product, will create up to 1.8 MILLION new jobs in renewable energy and environmentally-friendly projects.

In a presidential statement, the country’s leader, Lee Myung-bak, said that the so-called Green New Deal will significantly boost growth and jobs in an effort to ride out the economic slump.

“The aim is for South Korea to become the world’s seventh most competitive country by 2020 in terms of energy efficiency and ability to adapt to climate change,” he said.