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R. Burton Evan M. Bienstock Faith L. Charles Ralph A. Child Kenneth M. Connolly Daniel I. De Wolf Jeremy B. Hayden Richard A. Kanoff Patrick J. Kealy Carl A. Kukkonen III David J. Leiter Chuck A. Samuels Paul J. Scapicchio Sahir C. Surmeli Stanley A. Twarog
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In the January edition of Mintz Levin’s Energy and Clean Tech Connections, we’ve gathered recent information from a wide variety of sources in an effort to keep you abreast of what’s new in the world of clean tech. We draw your attention to the latest industry developments, news from Capitol Hill, grant opportunities and upcoming events. In addition, since the Massachusetts Senate unanimously approved legislation on January 9th that began last year with Senator Salvatore DiMasi’s proposals to the House of Representatives, the Energy and Clean Tech Practice Group would like to acknowledge the state’s efforts to promote renewable energy, conservation and efficiency. We will keep you posted on this legislation as it is refined in conference committee and continues to make its way to the Governor’s desk. Please click on the following links to access text of the bill and its amendments. Additionally, see the Events section of this newsletter to learn about an exciting mentoring opportunity with the Ignite Clean Energy business presentation competition beginning this March. We hope you enjoy this month’s installment of the newsletter, and would like to take this opportunity to wish you a Happy New Year! In This Edition Funding Roundup First Deals of the New Year Greentech Media - January 7, 2008 GE Unit Partners with SunPower for Five Solar Projects Greentech Media - January 7, 2008 A Promising Oil Alternative: Algae Energy The Washington Post - January 6, 2008 Green Companies Grow into Hot Investments The Chicago Tribune - January 6, 2008 Imperium IPO Delay Could Hinder Biodiesel Plant Greentech Media - January 4, 2008 BP Announces Full Operation of Wind Farm Renewable Energy Access - January 4, 2008 Clean-Energy Fundings Reach $117.3B in 2007 Greentech Media - January 3, 2008 Funding Roundup Last-Minute Deals for 2007 Greentech Media - December 31, 2007 Pyron Solar Closes Series A Financing Renewable Energy Access - December 28, 2007 Project Better Place Tops Off Greentech Media - December 27, 2007 Outland Signs 200 MW Agreement with Siemens Renewable Energy Access - December 27, 2007 Vulcan and Propel Biofuels to Open Biodiesel Station Renewable Energy Access - December 24, 2007 PG&E to Get Watts from Waves The Los Angeles Times - December 19, 2007 State Revenue Commissioner The Boston Globe - January 5, 2008 FERC Issues License for Hydrokinetic Project Renewable Energy Access - January 3, 2008 Policy Grows Greener Greentech Media - December 31, 2007 New England Can Lead the New Energy Boom The Boston Globe - December 31, 2007 DOE Pulls Back on FutureGen’s Reins Greentech Media - December 26, 2007 Department of Energy Finalizes Regulations to Increase Energy Efficiency in New Federal Buildings by 30% Press Release, U.S. Department of Energy - December 21, 2007 EPA Chief Denies Calif. Limit on Auto Emissions The Washington Post - December 20, 2007 Energy Department Awards $66.7 Million for Press Release, U.S. Department of Energy - December 18, 2007 Evan is an associate in the firm’s Corporate Section where he spends much of his time and effort on matters engaging the energy and clean tech space. Evan’s practice focuses on general corporate and securities law matters, with an emphasis on formation and early-stage venture-capital financings, as well as mergers and acquisitions and public offerings as companies mature and seek exit strategies. Evan has been involved in the formation and financing of numerous energy and clean tech companies in markets such as clean coal, solar, biofuels and fuel cells. In his practice, Evan has represented public and private companies, underwriters, venture funds and other parties in a broad range of transactions, including initial and follow-on public offerings, PIPEs, mergers, equity and debt financings and stock and asset sales. In addition, Evan devotes a significant portion of his practice to counseling public companies with respect to SEC disclosure, compliance and corporate governance matters, including Sarbanes-Oxley and recent SEC regulations, as well as federal and state securities laws. Mary-Laura Greely Recognized as Top Woman Lawyer Press Release, Mintz Levin - January 8, 2008 MIT Enterprise Forum Podcast on Energy Innovation Energy & Clean Tech Alert, Mintz Levin - January 4, 2008 Practice Group Established for Subprime Market Crisis Press Release, Mintz Levin - December 3, 2007 The Renewable Fuels Foundation Offering The Renewable Fuels Foundation (RFF) Board of Directors funds those research projects that have clear goals and measurable outcomes with benchmarks that will advance the science of ethanol production. While sound research should be the basis for all grant applications, the RFF will only support projects that directly enhance domestic production of ethanol and the efficient use of co-products. One grant will be awarded for $150,000, of which $75,000 will be made available over two years. Viable projects may qualify for continued funding past this time frame. Research project proposals must have a national implication, not local. The RFF prefers to fund national model projects, thereby making a bigger impact to the U.S. ethanol market. SEED 2007 Call for Renewable Energy Company Applicants The Massachusetts Technology Collaborative The Massachusetts Technology Collaborative, a quasi-state agency, established the Sustainable Energy Economic Development (SEED) initiative to support growth and commercialization of renewable energy technologies in Massachusetts. SEED provides direct and flexible capital to early-stage companies for new renewable energy related product development and facilitates companies in gaining access to private capital. The award amount will be up to $500,000 per company per 12-month period, up to two awards per Massachusetts company, and SEED is accepting applications on an open enrollment basis. Business Expansion Initiative Business Expansion Initiative (BEI) supports the development and expansion of the production capacity of renewable energy technology firms in Massachusetts. BEI provides secured debt capital to expansion-stage companies for new renewable energy product design and manufacturing financing. BEI loans may only be made to companies located within Massachusetts. Predevelopment Financing Initiative The Massachusetts Technology Collaborative The Massachusetts Technology Collaborative Board of Directors has approved this round of the Clean Energy Predevelopment Financing Initiative in an effort to support the development of grid-connected renewable energy generating facilities in New England. As of October 1, 2005, $1,574,934 has been committed to projects supported by this solicitation. Two types of funding are available under this solicitation: funding for feasibility studies and funding for pre-development activities (e.g., facility design, environmental studies, permitting, and similar activities). Funding for feasibility studies is available only to public instrumentalities and private nonprofit organizations, and takes the form of grants of up to $50,000 to public instrumentalities, and unsecured loans of up to $50,000 to nonprofit organizations. Funding for predevelopment activities is available to public instrumentalities, private nonprofit organizations and private for-profit corporations or partnerships, and takes the form of an unsecured loan of up to $250,000 for wind and biomass projects, or up to $150,000 for other types of renewable energy projects.
Mentors Sought for Ignite Clean Energy Wanted: Finance, Legal, Operations, Technical, & Management Expertise MIT Enterprise Forum of Cambridge Business Presentation Competition If you have had success as an entrepreneur or as part of a start-up management team, here is a chance to share what you learned with the next generation of entrepreneurs. World Future Energy Summit January 21–23, 2008 Wind Interconnection Workshop January 23–25, 2008 Concentrated Solar Power Summit U.S. January 28–29, 2008 Boston Going Green Expo Taking Green to the Mainstream February 2–3, 2008 Concentrated Solar Power Congress February 5–6, 2008 MIT Innovation Summit 2008 Power, Drugs & Money February 7, 2008 4th Annual Clean-Tech Investor Summit Fostering Innovation & Investment February 6–7, 2008 The Climate Change Summit 2008 February 12–13, 2008 3rd International Solar Cities World Congress February 17–21, 2008 POWER-GEN Renewable Energy & Fuels 2008 February 19–21, 2008 Solar ’08 Putting Light to Work February 24–28, 2008 7th Carbon Investment Forum February 25–26, 2008 Cleantech Forum XVI February 25–27, 2008 Carbon Forum America Carbon Market Trade Fair & Market National Power New Zealand February 25–29, 2008 Genera 2008 Energy and Environment International Trade Fair February 26–28, 2008 Washington International Renewable March 4–6, 2008 14th Biennial CSP SolarPACES Symposium March 4–8, 2008 Asia Solar Energy PV Exhibition and Forum March 5–7, 2008 CleanBusiness 2008 March 11–13, 2008 Building Energy ’08 The Conference and Trade Show for Renewable March 11–13, 2008 European Wind Energy Conference & Exhibition 2008 March 31–April 3, 2008 The Wall Street Green Trading Summit April 2–3, 2008 The 2nd Annual Energy Efficiency Finance Forum Financing a New Energy of Clean Energy April 10–11, 2008 MIT Energy Conference Solutions That Scale to Meet the Energy Challenge: April 11–12, 2008 Energy Efficiency World 2008 April 15–16, 2008 2nd Organic Photovoltaics Conference & Exhibit April 21–23, 2008 The 2nd China International Wind Energy April 25–27, 2008 Cleantech Forum XVII April 28–30, 2008 Solar 2008 The National Solar Energy Conference May 3–8, 2008 3rd Annual Renewable Energy May 19–21, 2008 All-Energy 2008 UK’s Largest Renewable Energy Exhibition & Conference May 21–22, 2008 Windpower 2008 Conference & Exhibition June 1–4, 2008 CSI Cleantech 2008 The Cleantech Conference, Partnering, Ventures and Trade Show June 1–5, 2008 3rd Annual Photovoltaics Summit June 18–20, 2008 Global CO2 Summit & Exhibition A Two-Day International Summit Tailored for the Energy Sector June 12–13, 2008 Green Technology Entrepreneurship Academy July 7–11, 2008 Intersolar North America 2008 July 15–17, 2008 Cleantech Forum XVIII September 15–17, 2008
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