Energy and Clean Tech Connections (August 2009)
8/19/2009
In the August 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 energy. We draw your attention to the latest industry developments, news from Beacon Hill to Capitol Hill, grant opportunities, and upcoming events.
This month, Mintz Levin client EnerNOC announced that it priced an underwritten public offering of approximately 3.96 million shares of its common stock at an offering price of $27.00 per share, which included 213,889 shares sold pursuant to the underwriters’ over-allotment option. The Boston-based energy management company received net proceeds of about $83.6 million from the deal.
Last month, client Warburg Pincus, along with Apex Venture Partners and previous investors New Enterprise Associates‚ HIG Ventures, and Advanced Equities, completed a $75 million financing of Suniva. Suniva develops, manufactures, and markets high-efficiency silicon photovoltaic cells.
Since the American Clean Energy and Security Act passed the House on June 26, focus has shifted to the Senate’s efforts to pass parallel legislation. Last week, four Democratic senators suggested that the Senate should abandon efforts to pass legislation curbing greenhouse-gas emissions this year, and concentrate on a narrower bill to require use of renewable energy. Senate Majority Leader Harry Reid (D-NV) responded, saying that “I don’t think we are going to take to the Senate floor a bill stripped of climate provisions.”
This month, the Energy and Clean Technology Practice Group would like to congratulate client Flagship Ventures for leading the recent $14.2 million financing of Advanced Electron Beams with co-investors General Electric, Atlas Venture, General Catalyst Partners, RockPort Capital Partners, and Agman Partners.
We hope that you enjoy this month’s edition of the newsletter.
