AutoblogGreen reported today that the cellulosic ethanol company Mascoma has received another $10 million for research and development from Marathon Oil. This comes after GM’s undisclosed equity share in the same company was announced last week, and puts the grand total raised in this round of financing at $100 million.
Editor’s note: Getting to spend more time with the Eco-Libris blog has turned into a real pleasure, as they’ve got a keen sense of the “big picture” when it comes to book publishing. In today’s post, Raz discusses a “carbon financing” project by Merrill Lynch that involves investment in healthy forests… a critical element of sustainability for the publishing industry. This post was originally published on Thursday, March 20, 2008.
With all the gloomy news coming these days from Wall Street, it’s great to see that when it comes to the environment, Wall-Street is still bullish. I’m talking about the news on Merrill Lynch new investment of $9 million to finance a project to protect 750,000 hectares of forest in Indonesia.
Dana Mattioli reported last week on the Environmental Capital blog of the Wall Street Journal about the new green deal. Firstly, let’s make one thing clear - this is not a donation or anything like that. It is an investment that according to the article is supposed to generate Merrill annual proceeds of $432 million over the next 30 years.
The expected income will come from in carbon financing, which means that someone will pay Merrill to offset polluting activities elsewhere with the amount of carbon dioxide that won’t be emitted (3.4 million tons of carbon dioxide every year) because of the fact that the trees will be kept alive and won’t be cut down.
Last September, Google offered up the $10 million in a formal Request For Proposals (RFP), saying they wanted to invest in any company that would “accelerate the commercialization of alternative transportation that reduces vehicle fossil fuel use and climate emissions.” In other words, getting plug-in hybrids, fully electric vehicles, vehicle-to-grid capabilities, and batteries and other storage technologies on the market.
Timothy Hurst recently wrote an article about U.S. Investors and renewable energy. This post is designed as a complement to that news story.
Renewable energy has attracted a lot of attention lately as the world looks for cleaner ways to power our world. Wind and solar stand as the most recognizable clean, green dynamos, but they still struggle to compete with traditional and entrenched power producers. True to conventional economic values, competition is everything. Yet, in the U.S.A. these technologies have survived in the dog-eat-dog industry for decades mostly without the aid of government subsidies (unlike coal and oil), and many claim that renewables could take off with just a little help from Uncle Sam. What are the obstacles? Are government subsidies the only saving grace for renewables? This post hopes to shed some light on the topic and burn through the conflicting noise that surrounds this fundamental and controversial industry.
It seems like I’m always reading articles about improvements, investments, and the promise of renewable energy. For a more practical perspective, I recently asked a successful businessman, who sometimes works with solar panels, for his opinion. Did he think that solar was going to boom in the next few years? His opinion was that the industry would need more government subsidies to really take off. Even with high oil prices, it was still simply too expensive to invest on a small scale. You might regain your initial investment in 15+ years in ideal conditions. Even in states with incentives to support renewable energy, it’s expensive. His view echoed my cousin’s frustration. Yet despite the initial cost, renewables are still an attractive option. As expensive as it may be to buy and install solar panels, it’s also very expensive ($1.8-billion and rising) to build a new coal-fired power plant with “clean coal” technologies. Hidden costs also plague coal power plants: the cost to clean up mercury emissions, the water required to operate, and in some places, the cost of carbon credits. Finally, the bottom line: how much does it cost to generate each kilowatt hour? Compare two graphs, one for coal and one for solar, and you may be surprised.
Venture capital investments in clean technology reached an impressive $5.18 billion last year in North America and Europe. North American-based companies received three times the investments of the European-based companies. Not surprisingly, energy generation was responsible for $2.75 billion in investments, with solar energy shining.
“In 2007, solar emerged as a significant investment theme, and it was notable to us that of the top five solar deals of the year, three of […]
Thanks to Erin over at RE-AMP for the heads-up on this great piece of news: Eight major utilities have agreed to implement energy efficiency measures in order to meet the growing demand for electricity. By emphasizing efficiency over coal, they will cut carbon dioxide (CO2) emissions by 30 million tons — the equivalent of taking almost 6 million cars off the road — and avoid the need to build 50 500-megawatt peaking power
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Businesses seem to be flocking to appear green, lessen their carbon footprint, and talk about global warming. But scant mention of it was made in most of the reports filed with the Securities and Exchange Commission (SEC) this year. Should investors be concerned?
A group of state officials, state pension fund managers, investors, and other organizations think so. They are asking the SEC to make all public companies formally address the
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Vestas, one of the world’s leading wind energy companies, is leaving Australia, calling the nation’s wind energy market "unviable."
Vestas Australia Wind Technology will close its 2 1/2 year-old turbine blade factory in Portland, Victoria at the end of this year. Consequently, 130 jobs will be lost. The Danish company’s Asia-Pacific senior vice president, Jorn Hammer, was quite forthcoming with his criticism of the Australian government:
"It’s not viable for us to make further
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A recent study found that the clean energy industry is the fastest-growing sector in Massachusetts, easily beating out behemoths like financial services, healthcare, and communications.
The Massachusetts Clean Energy Census was published by the Massachusetts Technology Collaborative, a quasi-public agency that runs a renewable energy trust fund of green power projects. The study found that clean energy industry had a 26 percent increase in jobs and now accounts for more than 14,000 jobs in
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