Energy and Clean Tech Connections (March 2010)
3/17/2010
In March’s 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 and Clean Technology Practice Group would like to congratulate client Luminus Devices and ML Strategies’ client Suniva. In late February, Luminus, which designs, develops, and manufactures LEDs, received $19 million in a venture funding round led by current investors Argonaut Private Equity, Braemar Energy Ventures, Paladin Capital Group, and Stata Venture Partners. On March 11, the Export-Import Bank of the United States named Suniva the “Renewable Energy Exporter of the Year.”
In government funding news, on March 2, the Department of Energy announced an additional $100 million in Recovery Act funding would be made available for research and development in the clean energy sector. On March 15, the Massachusetts Clean Energy Center announced a new round of grant opportunities as part of its Community-Scale Wind Initiative; the initiative is projected to have $2 million available for grant funding. For more information on these and other opportunities, please see the Government Financial Assistance section of this newsletter.
Speculation continues to surround smart grid provider Silver Spring Networks’ public offering plans this month. Reports have indicated the California-based company will look to fetch around $3 billion from a public sale in July 2010, after recently raising roughly $300 million in capital. Earlier this month, Silver Spring announced that it has selected Morgan Stanley and Jeffries & Co. as underwriters for a mid-year IPO.
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.
