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CalCEF $30 Million Fund to Fuel California's Clean Energy Industry

The California Clean Energy Fund (CalCEF), a new $30 million public benefit investment fund created as part of the Pacific Gas and Electric’s bankruptcy settlement, announced agreements with three leading venture capital firms: Nth Power, Draper Fisher Jurvetson and VantagePoint Venture Partners. These venture funds, with combined assets under management of $6 billion, will bring added value to CalCEF including matching funds and access to key strategic partners. The purpose of the evergreen non-profit Fund is not only to make attractive investments, but also to provide an engine of economic growth while reducing California’s dependence on fossil fuels. “With this new Fund, we have the opportunity to shape the future of clean energy investments by demonstrating wins for both investors and our environment,” said Michael R. Peevey, chairman of CalCEF and President of the California Public Utilities Commission (CPUC). CalCEF’s cross-disciplined Board of Directors enables a focus on this promising investment sector in ways that a traditional fund cannot. “This Board, which blends public policy makers, investment professionals, entrepreneurs, and science and technology experts, is uniquely able to meet this investment challenge,” said Lisa Bicker, president of CalCEF. “The time is right for clean energy investing and CalCEF can be […]

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DayStar Technologies and Auxilia Sign MOU

DayStar Technologies (Nasdaq: DSTI) and Auxilia, Inc. today signed a Memorandum of Understanding (MOU) to design and develop fully integrated photovoltaic (PV) power systems for the unmanned airship (lighter-than-air vehicle) marketplace. The objective of the agreement is to develop plug-and-play architecture for existing and developing products of both companies that could enable diverse airship configurations for low, middle and stratospheric altitude applications. Worldwide, over 40 airship programs are underway. Low cost, serviceability and range of coverage make airships ideal for a variety of communications, surveillance, data relay, and broadband applications for military and commercial telecommunications. Airship platforms offer a solution for addressing a wide range of urgent military and homeland defense needs. Among these are force protection, port security, border monitoring, surface surveillance, enemy target acquisition and beyond line-of-sight communications. DayStar and Auxilia will focus on integrating DayStar’s proprietary LightFoil(TM) photovoltaic power product with Auxilia’s products by utilizing the Auxilia Airship Simulation Center (AASC). LightFoil(TM) is specifically designed for unmanned airship applications where weight, high power generation and physical flexibility are required. The AASC is a world-class repository of lighter-than-air-vehicle (LTAV) and communications systems engineering data and expertise. The center offers users the ability to minimize project time, cost, and […]

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Quantum Subsidiary Awarded Major Contract

Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW), subsidiary, Tecstar Automotive Group, has been awarded a contract for expanded parts distribution that will potentially generate up to $60 million in revenues over the next twelve months. With demand for Tecstar products increasing, Tecstar will establish a California distribution center in addition to its Livonia, Michigan, location. Tecstar will use Quantum’s existing 5.2 acre Southern California facility located in Irvine to improve efficiency and leverage the synergies between the two companies. Quantum is a leader in powertrain engineering, system integration and manufacturing of packaged fuel systems and accessories for specialty vehicles and applications including fuel cells, hybrids, alternative fuels, hydrogen refueling, new body styles, mid-cycle vehicle product enhancements and high performance engines and drive trains for OEMs and consumers of aftermarket parts and accessories. Quantum also designs and manufactures hybrid and fuel cell vehicles. Website: http://www.qtww.com     

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