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2007 Starts Strongly for Clean Energy Investment

A total of $2.2 billion of venture capital and private equity flowed into the clean energy industry worldwide in the first quarter of 2007. That’s an increase of 57.7% from Q1 2006, and 60% higher than Q4 2006. Although companies of all stages received increased investment activity, later stage, leveraged private equity investments dominated. Later stage deals contributed $1.4 billion (up 44% on Q1 2006), while earlier stage deals rose 23%. Over-the-counter transactions were up 48% to $97.3m. Private Investments in Public Equities, or PIPE transactions, more than tripled from $142.9m to $446.4m. By contrast the Public Markets saw 18% less raised in the first quarter of 2007 than in the same period in 2006 ($1.47 billion vs $1.9 billion). Several large deals took up much of the capital. Solar silicon producer Silicium de Provence received $394m, Imperium Renewables, a US biodiesel producer, accounted for another $113m. The success of biofuels groups in raising money might seem to run contrary to current investor sentiment on the sector, which has been shaken as oil prices dropped and feedstock costs soared. Money has, however, continued to flow into areas other than US corn-based ethanol: Hawaiian biodiesel in the case of Imperium, and […]

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Evergreen Solar Increases SunEdison Contract

Evergreen Solar, Inc. (Nasdaq: ESLR announced a major extension of its sales agreement with SunEdison. The extension increases the total value of the contract to over $510 million, boosting the total value of Evergreen sales agreements announced in the past 16 months to more than $1 billion. The initial $200 million agreement was announced in July 2006. Under the terms of the contract extension, Evergreen Solar will ship an additional $316 million of photovoltaic modules to SunEdison through 2011. “This contract extension with SunEdison is another significant milestone,” said Richard M. Feldt, Evergreen Solar’s president and chief executive officer. “Evergreen’s cutting-edge technology coupled with SunEdison’s unique finance and service model for solar development projects make our partnership a perfect match of global innovation leaders. The ongoing expansion of EverQ – our partnership with Q-Cells and Renewable Energy Corporation – and a secure, long-term supply of refined silicon enable us to forge long-term customer agreements with solar industry leaders.” The SunEdison agreement is one of six major sales contracts secured by Evergreen Solar since November 2005. The majority of the PV modules will be supplied by its rapidly-expanding EverQ joint venture operation in Thalheim, Germany with the remainder supplied by Evergreen’s […]

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ZAP Sales Triple

For the year ending December 31, 2006, ZAP (OTCBB:ZAAP) reported that sales for its electric and fuel-efficient vehicles tripled. Sales for the year were $10.8 million compared to $3.6 million in 2005. The increase of $7.2 million was due to sales of advanced technology vehicles of $8.3 million for 2006 versus $432,000 in 2005. Net loss for 2006 decreased by 50%, from $23.5 in 2005 to $11.9 million in 2006. The decrease was primarily due to a significant one-time gain on the discharge of liabilities related to an automotive distribution contract. For ZAP, 2006 marked the launch of automotive marketing and distribution, highlighted by the introduction of the XEBRA electric sedan and truck in June through its network of automotive dealers. ZAP is currently marketing the only production electric vehicles that meet all DOT standards for on-road use in the United States. ZAP is working to capitalize on these trends with the announcement in February 2007 that it will develop a new generation of electric vehicles, including the ZAP-X compact SUV, designed by Lotus Engineering. ZAP is also in a venture to make fuel-efficient ethanol and electric micro-sports cars with Brazilian automaker OBVIO ! Automotoveiculos S.A. of Rio de Janiero. […]

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