Energy and Clean Tech Connections (October 2009)
10/21/2009
In the October 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 local governments to Capitol Hill, grant opportunities, and upcoming events.
Last month, Senators John Kerry (D-MA) and Barbara Boxer (D-CA) introduced the Clean Energy Jobs and American Power Act. Senator Kerry said that the bill “puts Americans back in charge of our energy future and makes it clear that we will combat global climate change with American ingenuity.” The Senate Committee on Environment and Public Works announced that it will hold hearings on the bill beginning October 27. For a comparison of the Kerry-Boxer bill and the Waxman-Markey energy and climate legislation that passed the House of Representatives in June, please see our recent Alert.
This month, the Energy and Clean Technology Practice Group would like to congratulate client Achates Power on their recent $12.12 million financing by RockPort Capital Partners, Sequoia Capital, InterWest Partners, and Madrone Capital Partners. Based in San Diego, Achates Power develops engines that provide both fuel efficiency and power density at lower cost.
Last month, A123 Systems Inc. made its debut on the NASDAQ as a publicly traded company with a $378 million initial public offering. The Massachusetts-based company produces lithium-ion batteries for the growing electric car market. John Fitzgibbon, an analyst at IPOscoop.com, said A123 drew interest from investors as a way to tap into new technology. “You can expect to see more of these,” he said.
We hope that you enjoy this month’s edition of the newsletter.
