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Google Converts to Plug-in Hybrids

Google is converting its growing fleet of hybrids into Plug-ins. The vehicles wil be converted by installing Hymotion’s Battery Range Extender Module (BREM), powered with A123Systems’s Nanophosphate(TM) lithium ion batteries. A123Systems developed its proprietary doped Nanophosphate chemistry with the assistance of the Department of Energy FreedomCar program and has received more than $102 million in private investment. “Our automotive class cells are designed to cost-effectively address the specific requirements of automotive manufacturers today, including power and energy density, durability, and safety, that have hindered the development of market-ready PHEVs in the past,” said David Vieau, president and CEO of A123Systems. “Google’s efforts will accelerate progress in the PHEV market and provides us with another way to demonstrate commitment to the future of transportation, prove the efficiency of our cells, and ultimately speed these vehicles to market.” The company’s PHEV optimized M1HD technology offers superior calendar and cycle life at high depth-of-discharge, as well as excellent power density for charge-sustaining operation. Additionally, the cells leverage the company’s existing low-cost, high-volume manufacturing techniques to offer the hybrid and plug-in hybrid vehicle industries a new level of price-performance. Hymotion, recently acquired by A123Systems, is the leading fabricator of aftermarket plug-in hybrid conversions. The […]

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DOE to Provide $60M for Solar Research

The U.S. Department of Energy (DOE) announced it will provide nearly $60M to increase the use of solar power. $2.5 million will go to Solar America Cities cooperative agreements, in which thirteen selected cities will receive awards to promote increased use of solar-powered technologies throughout each city; the issuance of a Funding Opportunity Announcement (FOA) for up to $30 million for universities to research near-term improvements in solar products; and the competitive selection of ten cost-shared Photovoltaic (PV) Module Incubator projects that will receive up to $27 million in DOE funding over 18 months. The 2007 Solar America Cities are: Ann Arbor, MI; Austin, TX; Berkeley, CA; Boston, MA; Madison, WI; New Orleans, LA; New York, NY; Pittsburgh, PA; Portland, OR; Salt Lake City, UT; San Diego, CA; San Francisco, CA; and Tucson, AZ. DOE will provide $2.5 million in financial assistance to the 13 competitively selected, cost-shared, two-year projects. DOE will provide hands-on assistance from technical and policy experts to help cities integrate solar technologies into city energy planning, zoning, and facilities; to streamline city-level regulations and practices that affect solar adoption by residents and local businesses; and to promote solar technology through outreach, curriculum development, and incentive programs. […]

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First Biomass Emissions Reduction Project in Chile

CantorCO2e Ltd., a subsidiary of Cantor Fitzgerald, L.P., a leading global provider of financial services to the world’s environmental and energy markets, has facilited a groundbreaking transaction involving the first Biomass Clean Development Mechanism Project in Chile. The multi-million dollar transaction involving contracts between Arauco, the largest forestry company in Latin America, and Tokyo Electric Power Company (TEPCO), one of the world’s leading electricity generation companies in Japan, will see Arauco sell emissions reductions created from the Biomass project to TEPCO. The transaction will result in the creation of energy through the burning of wood waste which will then be dispatched to the Chilean electricity grid, thereby reducing CO2 and methane emissions by 500,000 ton of CO2 equivalent while using the latest and cleanest technology available. Much of the biomass will come from Arauco’s own pine plantations – none of it is taken from native forest, of which Arauco owns 400,000 hectares. CantorCO2e is the broker, having been instrumental in developing the methodology, validation, registration and verification for the project. The project is one of the largest Clean Development Mechanism (CDM) projects involving biomass to have been agreed under the provisions of the Kyoto Protocol. Although this project is substantial […]

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Energy Photovoltaics Raises $77.5M

Energy Photovoltaics, Inc. (EPV), a thin-film photovoltaic manufacturer, has closed on $77.5 million of senior secured notes which are convertible into its common stock. EPV will use the proceeds to increase manufacturing capacity to over 85 MW in the next 18 months. Up to 25 MW of the expansion will be in the New Jersey region. EPV is currently considering several U.S. states and European countries as locations for remaining capacity expansion beginning in 2008. As next generation equipment is rolled out, EPV plans to expand capacity by approximately 85 MW per year for the next several years. Said CEO Scott Massie, “This funding represents a strong endorsement for the market position of EPV and the growth potential of our commercially proven solar technology. This capital will allow us to take our solar technology and proprietary manufacturing process and transition EPV into a high-volume, low-cost producer of world class thin-film solar modules and products. EPV’s 15 year experience in developing its own manufacturing equipment, means that we can expand our manufacturing capacity quickly and on a highly competitive cost basis. Funding at a level of $77.5 million demonstrates that investors wish to participate in EPV’s cost-effective solar electric (photovoltaic) technology […]

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