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Energy Tech Companies to Watch

Every investor’s dream is to get in on the ground floor of the next “big thing” and ride the elevator all the way to the top of the market. Here, are a few companies to keep an eye on. The following startup technology companies made the World Economic Forum’s list of 47 Technology Pioneers, recognized for visionary leadership and proven technologies that have the potential to change global business and society. A panel of technology experts selected the companies from a group of 225 nominees. The following were selected from the Energy sector. The IT and Biotech sectors were also represented in the list. LS9 Inc. USA( www.ls9.com Based in San Carlos, California, LS9 develops biofuels. The company says its fuels are designed to resemble petroleum-derived fuels, but are renewable, clean, and cost-competitive. The company is backed by Flagship Ventures and Khosla Ventures. Gridpoint Inc. USA( www.gridpoint.com This Washington, D.C.-based company builds “smart grid” platforms to increase energy efficiency. The platform is designed to give utilities more control over energy demand, storage and production. Gridpoint claims its technology will reduce carbon emissions and conserve fuel by helping utilities plan and develop renewable energy plants. GridPoint is backed by Goldman Sachs […]

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Hoku Scientific Financing Polysilicon Plant with Merrill Lynch

Hoku Scientific, Inc. (NasdaqGM:HOKU) may borrow up to $185 million from Merrill Lynch for its planned polysilicon production plant in Pocatello, Idaho, according to a company release. Hoku signed a non-binding term sheet with Merrill Lynch for Hoku Materials, Inc., its wholly owned subsidiary, to fund the construction, procurement and start-up of the plant. In addition, prior to receiving any of the loan proceeds, Hoku Scientific will be required to provide Hoku Materials with approximately $35 million in cash for use in the construction of the planned polysilicon plant. To meet this and other capital requirements, Hoku Scientific says it will be required to secure additional financing. The Pocatello facility is expected to produce approximately 2,500 metric tons of solar-grade polysilicon per year when it is running at full capacity, and the first customer shipments are planned for the beginning of 2009. Hoku recently announced plans for Phase II of its planned polysilicon facilities, which would increase its capacity beyond 2,500 metric tons per year to meet its obligations to Solarfun Power Hong Kong Limited. Hoku began construction in May 2007 of its Phase I, 2,500 metric tons per year, facility, and estimates that total construction costs for Phase I […]

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Trina Solar Signs Development Agreement for Polysilicon Plant

Trina Solar Limited (NYSE: TSL) announced today an agreement with the Lianyungang Municipality in China’s Jiangsu Province, supporting the development of a multi-phased polysilicon production facility. The agreement includes government support in respect of land and electric power supply for the facility, which is targeted to reach 10,000 metric-ton capacity through an estimated total investment of $1 billion by the end of 2012. “We are extremely pleased by the strong support under this Lianyungang partnership, which is expected to provide key economic and logistic advantages within our own Jiangsu operating base,” said Mr. Jifan Gao, Trina Solar’s Chairman and CEO. “In regard to our financing requirements, we are examining several alternatives to minimize any near term dilution associated with this project. These include negotiating a reduced investment cost from the preliminary estimated $455 million for initial phase of 3,500 metric-ton capacity, reducing initial phase scale from previously announced 3,500 metric- ton capacity, arranging long-term and short-term commercial debt and export agency finance to fund initial phase estimated capital expenditure of $150 million in 2008, as well as other structured finance options. Our focused goals remain to build a world class facility with attractive production cost efficiencies relative to our domestic […]

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Raser Purchases Rights to Geothermal Source

Raser Technologies, Inc. (NYSE Arca: RZ) has completed the previously announced purchase of geothermal rights for the Lightning Dock resource in southwestern New Mexico from GeoLectric Power Company NM, LLC. The resource has been well studied over the years, leading engineers to believe the site has potential to produce in excess of 20 megawatts (MW) of clean, renewable electric power, enough to power approximately 20,000 homes. The Lightning Dock resource is one of the nation’s first Bureau of Land Management leases for geothermal production. It has an existing direct-use production history of over 20 years at temperatures and flow rates Raser believes are well suited for power generation using its plant designs and the PureCycle® equipment. According to Raser, the resource has more than 40 existing wells that have shown temperatures in excess of 300 degrees F with substantial flows at depths of 1,500 to 2,500 feet. Some of these wells may be used for production purposes, Raser says, while other wells will be used for observation, flow test and gradient uses. “The acquisition of an existing geothermal resource with the production capabilities of Lightning Dock will substantially shorten our power plant development timeline,” said Brent Cook, Raser’s CEO. “Since […]

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Clean-Burning Stoves for Developing Countries

A new partnership will result in 10 million clean-burning stoves sold in five countries over the next five years. U.S. nonprofit Envirofit International and UK charity Shell Foundation are working together to significantly reduce the number of deaths caused by Indoor Air Pollution (IAP) – the smoke generated by traditional fires and stoves used in developing world homes. Over half the world’s population – three billion people – burn wood, dung and crop waste to cook their food, breathing in lethal fumes. According to the World Health Organization, IAP claims the lives of 1.5 million people a year worldwide, mostly women and children. Envirofit is tasked with handling the scale-up and spin off of the Shell Foundation’s Breathing Space program, which was founded in 2002 to achieve significant global reductions in IAP. The Foundation is providing Envirofit with investment and organizational support to form an independent global entity. In turn, Envirofit, working with its technology partner, Colorado State University’s Engines and Energy Conversion Laboratory, is designing, developing, marketing and distributing clean cook stoves that are engineered to emit significantly less toxic emissions and use less fuel.Envirofit’s commercial model represents a new, more sustainable approach to tackling IAP, relying on market […]

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Democrats Push for Incentives

Democrats in the House are pushing for tax incentives for renewable energy to be included in the pending Congressional energy bill, even though the funding source they suggest is almost certain to draw a presidential veto. To pay for incentives that would spur production of renewable energy from solar, wind, geothermal and other clean sources, Democrats are proposing to repeal about $21 billion in tax subsidies for oil and gas companies. A letter sent to Democrats Tuesday by House leadership said negotiators are working to include the incentive measures passed last summer by the House in the new energy bill, which is expected to reach a vote in the House and Senate later this week. According to Reuters, the letter says the bill “strengthens and extends existing renewable energy tax credits, including solar, wind, biomass, geothermal, hydro, landfill gas and trash combustion, while creating new incentives for the use and production of renewable energy.” After reaching an agreement late last week to set vehicle fuel efficiency standards at 35 miles per gallon by 2020, it was unclear whether or not tax incentives for renewables would make the final bill. Reportedly, the new bill would provide a 30% tax investment credit […]

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