Energy and Clean Tech Connections (September 2010)
9/20/2010
In the September 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.
This month, the Energy & Clean Technology Practice Group would like to congratulate ML Strategies’ clients Solar Millennium AG, Fluor Federal Services Inc. and The Babcock & Wilcox Company, and Mintz Levin client EnerNOC. Recently, the California Energy Commission approved Solar Millennium’s 1,000 MW, $4 billion solar field development project. When complete, the project will be the largest single solar field in the world. Last month, the Department of Energy awarded a $2 billion contract to Fluor-B&W Portsmouth, a joint venture of Fluor Federal Services Inc. and The Babcock & Wilcox Technical Services Group, for the next phase of decontamination and decommissioning at the Portsmouth Gaseous Diffusion Plant in southern Ohio. EnerNOC will host its EnergySmart Conference 2010 from September 22-24 at the Boston Seaport Hotel. The conference will bring together renewable energy and clean technology industry leaders to discuss the day’s energy and environmental challenges.
A new report from Pike Research predicts that the grid-scale energy storage market will expand from revenues of $1.5 billion in 2010 to $35.3 billion in 2020. The report explains that key trends including the proliferation of renewable energy from variable sources like wind and solar, the expansion of utility smart-grid initiatives, and the introduction of plug-in hybrid and electric vehicles will drive an increase in demand for grid energy storage.
In Capitol Hill news, Senate Majority Leader Harry Reid plans to bring his scaled-back energy package to the floor of the Senate in mid-to-late November. Reid recently suggested that he may include a renewable electricity standard (RES), which appears to be gaining bipartisan popularity. This and other measures that are currently being debated in Congress have become increasingly important to the U.S. clean tech economy as a recent report from Ernst & Young ranked China ahead of the U.S., for the first time, as the most attractive destination for global clean energy investment.
We hope that you enjoy this month’s edition of the newsletter. For the most up-to-date information on federal legislation and programs, please click here to find the most recent ML Strategies Energy and Environment Update.
Mintz Levin’s Monthly Incubator Profile: NYC ACRE
Having recently passed its one-year anniversary in July, the New York City Accelerator for a Clean and Renewable Economy (NYC ACRE) has reason to celebrate. As New York City’s first clean technology and renewable energy business incubator, NYC ACRE has helped nine early-stage clean technology and renewable energy companies in the New York area to grow from their often humble beginnings. In just one year, NYC ACRE tenant companies have created more than 50 jobs and raised over $8 million in capital. In 2010, NYC ACRE tenant company ThinkEco debuted a working prototype of their first product, the modlet ( for “modern outlet”), which won Best in Show at the Consumer Electronics Association’s Line Show. Their energy efficiency hardware and software is currently being used by several prominent educational institutions, large corporations, and public agencies. To facilitate such success, NYC ACRE serves as a physical destination for clean tech cluster development and provides start-up companies with low-cost office space, access to investors and professional service providers, and assistance with financial modeling and operational support. Promoting New York City as a thought leader for an urban clean energy economy, it also produces high-level events and seminars which showcase innovative solutions to 21st century energy and climate challenges.
The organization is seeded by a four-year, $1.5 million grant from the New York State Energy and Research Development Authority (NYSERDA) to NYU-Poly. Aimed at assisting entrepreneurs and innovative start-ups, as well as university students and faculty looking to commercialize their technology, NYC ACRE is focused on growing the clean tech/renewable energy sector and creating technology jobs in the New York City area. Its tenants focus on creating a low-carbon future for New York and boast products and services in areas such as renewable energy and smart grid technology, green building and materials, transportation and logistics, and air and water technologies. Partnering with NYC Economic Development Corporation, the NYC Investment Fund, Columbia University, NYU, and Pratt Institute, NYC ACRE is leading the charge to develop a clean tech cluster in the Big Green Apple.
