Happy New Year from the Energy and Clean Technology Practice Group at Mintz Levin! In 2010's first edition of 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 energy. We draw your attention to the latest industry developments, news from local governments to Capitol Hill, grant opportunities, and upcoming events. 2009 ranks as the second-best year ever for clean energy venture capital financing, with $4.85 billion exchanging hands in 356 deals over the course of the year. Consistent with the last four years, solar power was once again the leading investment segment at more than $1.4 billion in 84 deals, followed by biofuels at $976 million in 44 rounds, according to a report by Greentech Media. This month, the Energy and Clean Technology Practice Group would like to congratulate clients FloDesign Wind Turbine, EnerNOC and New Enterprise Associates (NEA). On January 19th, FloDesign closed a $34.5 million financing from investors Kleiner, Perkins, Caufield and Byers, a Goldman Sachs managed investment fund, Technology Partners and VantagePoint Venture Partners; the company also named Lars A. Andersen its new CEO. In December, EnerNOC announced that Morgan Stanley had purchased one of the energy management company’s software applications to drive persistent energy savings in the bank’s Manhattan headquarters. Earlier this month, NEA announced the closing of its 13th fund. With nearly $2.5 billion in committed capital, the fund is NEA’s largest since 2007. The Practice Group would also like to congratulate ML Strategies clients Achates Power and Cobalt Biofuels on their recent successes. Earlier this month, Achates completed a $19.2 million financing from investors Triangle Peak Partners, Sequoia Capital Partners, Rockport Capital Partners, Madrone Capital Partners, and InterWest Partners. Meanwhile, California Governor Arnold Schwarzenegger was on hand as Cobalt launched its first biofuels facility in California on January 12th. We hope that you enjoy this month’s edition of the newsletter. For weekly updates on pertinent legislation and government programs, please click here to find the most recent ML Strategies Energy and Environment Update.
In This EditionGovernment Financial Assistance Privately Sourced Financial Grants
In the News: United StatesFloDesign Wind Turbine Closes $34.5 Million Series B Financing and Hires New Chief Executive OfficerPress Release, FloDesign Wind Turbine – January 19, 2010 Biofuel Developer Cobalt Launches Plant in CaliforniaNew Energy World Network – January 13, 2010 McCarthy Takes Helm at Qteros, Replacing FreyCleantech – January 13, 2010 Bridgelux Boosts Series D to $80 Million, Names New CEOCleantech – January 12, 2010 GE Gets Its Smart Grid Foot in a Very Large Door: ChinaGreentech Media – January 11, 2010 Energy Efficient Engine Developer Achates Motors on with $19.2 Million FundingNew Energy World Network – January 11, 2010 Ford Foresees Steady Fuel Efficiency GainsCNET News – January 11, 2010 U.S. Energy Utility PSE&G Invests $50 Million in Four Solar DevelopmentsNew Energy World Network – January 11, 2010 PNM To Develop 80 MW of Solar Power in New MexicoNew Energy World Network – January 11, 2010 ESolar Lands Whopper Contract for Solar Thermal in ChinaGreentech Media – January 10, 2010 Tesla and Panasonic Collaborate To Develop New Generation of Electric Vehicle BatteriesNew Energy World Network – January 8, 2010 Innovalight Raises $18 Million for Silicon Ink-Based Printed Solar CellsClean Edge – January 7, 2010 SunEdison Installs U.S.’ Largest Rooftop Solar InstallationNew Energy World Network – January 7, 2010 EnerNoc Lands Morgan Stanley as Customer in Green Building PushGreentech Media – January 7, 2010 CODA Automotive Raises $25 Million To Develop Electric VehiclesNew Energy World Network – January 7, 2010 NEA Closes Largest Fund Since 2007 with $2.5 BillionCleantech – January 6, 2010 Nordic Windpower Raises $38 Million for Wind Energy TechnologyClean Edge – January 6, 2010 Think To Manufacture Electric Cars in IndianaCNET News – January 5, 2010 Ram Power Closes $77 Million Debt FinancingNew Energy World Network – January 4, 2010 Green VC Total: Second Best Year EverGreentech Media – December 31, 2009 Solyndra Files To Go PublicGreentech Media – December 18, 2009
In the News: EuropeScottish Government Approves 118 MW Lewis Wind FarmNew Energy World Network – January 14, 2010 EBRD Invests €125 Million in Iberdrola Central Europe SubsidiariesNew Energy World Network – January 13, 2010 European Offshore Wind Gets Big Boost from Crown EstateRenewable Energy World – January 11, 2010 UK Announces Major Offshore Wind Property RightsClean Edge – January 8, 2010 UK Calls for Renewal of Climate Talks Following Copenhagen ‘Disappointment’New Energy World Network – January 6, 2010 OPDE Secures €100 Million in Project FinancingRenewable Energy World – January 5, 2010 Total in $2 Billion Shale Gas Tie-Up with ChesapeakeReuters – January 4, 2010 Nine Countries Pen Agreement on First European Offshore Wind GridClean Edge – December 29, 2009 First Solar Cements Its French ConnectionGreentech Media – December 21, 2009 LDC Invests £17 Million in Scottish Marine Installer SuboceanNew Energy World Network – December 21, 2009 Copenhagen Accord Promises $30 Billion in Funding to Kickstart Emissions Reduction in Poorest NationsNew Energy World Network – December 21, 2009 EIB Signs Over €500 Million Funding for EDF EN Solar ProjectsNew Energy World Network – December 18, 2009 Cleantech Investor Demeter Partners Reaches €203 Million Fund CloseNew Energy World Network – December 18, 2009
Government Financial AssistanceGrantsMassachusetts Technology Collaborative Sustainable Energy Economic Development (SEED)Application Deadline: Rolling Massachusetts Technology Collaborative Business Expansion Initiative (BEI)Application Deadline: Rolling Massachusetts Technology Collaborative Large Onsite Renewables InitiativeApplication Deadline: Rolling Massachusetts Green Energy FundApplication Deadline: Rolling Unsolicited Proposals to the Massachusetts Renewable Energy Trust’s Industry Investment and Development (II&D) ProgramApplication Deadline: Rolling Focus on Energy Renewable Energy Incentives & GrantsApplication Deadline: Rolling
Tax Incentives and RebatesFederal Advanced Energy Manufacturing Tax CreditFederal Modified Accelerated Cost Recovery SystemFederal Business Investment Tax CreditFederal Renewable Power Production Tax CreditFederal Tax Credits for Home BuildersFederal Tax Deductions for Commercial BuildingsSelf-Generation Incentive ProgramCalifornia Property Tax Exclusion for Solar Energy SystemsMassachusetts Alternative Energy and Energy Conservation Patent Deduction (Personal and Corporate)Massachusetts Hydropower-Property Tax ExemptionMassachusetts Local Property Tax ExemptionMassachusetts Corporate Income Tax DeductionMassachusetts Technology Collaborative Commonwealth Wind Incentive Program: Micro WindMassachusetts Technology Collaborative Commonwealth Wind Incentive Program:
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Thomas R. Burton III Brady Berg Evan M. Bienstock Travis L. Blais Faith L. Charles Ralph A. Child Tania Rodrigues Cleary Jonathan M. Cosco Julian Crump Daniel I. DeWolf David P. Dutil Susan L. Foster, Ph.D. Jeremy D. Glaser Jeremy B. Hayden Irwin M. Heller Katherine Comer Holliday Richard A. Kanoff Patrick J. Kealy Jonathan L. Kravetz Carl A. Kukkonen III Cynthia J. Larose David J. Leiter Jeffrey A. Moerdler David L. O’Connor Jeffrey R. Porter Mark J. Riedy Jennifer Sacco Smith Chuck A. Samuels Paul J. Scapicchio Gabriel Schnitzler Sahir C. Surmeli Stanley A. Twarog Paula J. Valencia-Galbraith Michael D. Van Loy, Ph.D. Maureen J. Walsh Scott C. White Peter B. Zlotnick
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