South Korea’s largest conglomerate Samsung Group announced plans
to invest 23.3 trillion won ($20.6 billion) by 2020 in new
cleantech and health care businesses. According to a Reuters report, the group will focus on solar cells, battery cells and LEDs in the cleantech space. While the investment is massive, it doesn’t come as a big surprise. Samsung Electronics (005930.KS) already has already said it wants to be the largest solar company in the world by 2015, and the company recently committed $6.6 billion to wind and solar investments in Ontario, Canada. Also, Samsung has close ties to the South Korean government, which wants to make the country a leader in cleantech manufacturing. Last summer the government announced it would invest 2% of its annual GDP in environmental industries over the next five years. Similarly, Korea’s fifth largest conglomerate, LG Group said in April that it will invest about US$18 billion over the next decade to establish environmentally friendly businesses.
China Longyuan Power Group Corp (0916.HK) intends to spend roughly 92
billion yuan ($13 billion) developing wind power over the next five
years. The company wants to become the world’s biggest wind power producer by
installing a minimum of 16,000 megawatts (MW) in China and abroad, according to a Bloomberg report. The company is currently the world’s fifth largest wind power producer, and in December 2009, it raised the equivalent of $2.2 billion on the Hong Kong exchange in
one of the largest cleantech IPO’s in history.
General Motors and Hawaii’s The Gas Company (TGC) announced a
collaboration to establish a pilot project for the refueling of hydrogen
fuel-cell vehicles. The Gas Company currently produces hydrogen as part of the mix of synthetic natural gas it delivers to customers on the island of Oahu. TGC said it will tap its 1,000 mile pipeline system at key locations around the island to separate the hydrogen gas for use by local fueling station. It’s not yet clear exactly what role GM will play, though its likely they will provide fuel-cell powered vehicles in some sort of leasing program. The companies said they have federal and state support for the collaboration, as Hawaii aims to reduce its petroleum use 70% by 2030. GM said it is developing a "production-intent" fuel cell system that could be ready for
commercialization in 2015.
Financial market operator IntercontinentalExchange (NYSE: ICE) has agreed to
acquire Climate Exchange plc for about
$600 million. Climate Exchange owns European Climate Exchange (ECX), a primary market for emissions trading in the EU, and also the voluntary emissions trading market in the US–
Chicago Climate Exchange (CCX). It also owns the Chicago Climate Futures Exchange
(CCFE). The two companies already work together on the management of an electronic trading platform, and Intercontinental acquired a 4.8% stake in the company last summer. They have agreed to buy the outstanding shares at a premium of about 57%, according to an Associated Press story. But if the US should ever institute a cap-and-trade program for carbon emissions, the market operator will be in a fine position to cash in on a world market that could grow to more than $1 trillion by 2020, according to some estimates.
Honeywell (NYSE:HON) also made an acquisition to improve its position in a growing market. The provider of energy management technology bought demand response company Akuacom for an undisclosed amount. Akuacom says it is the only company that provides automated two-way communication between utilities and energy management systems at commercial and industrial sites. The company’s Demand Response Automation Server gives utilities the ability to automate price and reliability signals, which are key to effectively trimming peak demand. The demand response industry is expected to grow from $1.4 billion in 2010 to $8.2 billion in 2020, and Honeywell already has deep penetration in related markets like utility and building services.
ProLogis (NYSE: PLD), one of the largest operators of distribution
facilities in the US and abroad, will host more than 100 megawatts (MW)
of rooftop solar under a new agreement with Southern
California Edison (SCE) (NYSE: EIX). The first project, an 11.1 MW solar array, will begin construction this
summer, and the total agreement covers 2.5 million square feet of roof
space across five buildings. SCE will own and operate all of the solar power systems, and ProLogis
will receive roof rental income and construction management fees. In September of last year, ProLogis formed a Global Renewable Energy Group to focus on
developing solar projects at the company’s facilities. The company says it has more than 450 million square feet of roof space available worldwide for
installations and more than 24 MW under construction.
Norwegian electric car company Think has raised an additional US$40 million and
plans to launch its Think City vehicle in US markets by the end of the
year.
Think has had financial difficulties over the last two years, and
narrowly escaped bankruptcy last year, when US battery maker Ener1 (Nasdaq: HEV) stepped in to provide financial support. Ener1 now owns 31% of the company, and was responsible for bringing manufacturing to Elkhart, Indiana, where the cars will be assembled and fitted with Ener1’s lithium-ion batteries beginning in 1Q11.
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