Energy and Clean Tech Connections (April 2010)
4/21/2010
In the April 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. Please note that we have also expanded the reach of our news coverage to include Asia.
This month, the Energy and Clean Technology Practice Group would like to congratulate clients FloDesign Wind Turbine and EnerNOC. On April 8th, Governor Deval Patrick of Massachusetts announced the awarding of $3 million in grants and loans to FloDesign; the wind turbine developer will use the funds to relocate and expand its Massachusetts headquarters. EnerNOC, meanwhile, has secured a $10 million contract with the Commonwealth of Massachusetts to implement its energy-use tracking services in state universities and other public buildings.
The Practice Group would also like to congratulate ML Strategies clients Ameresco and Suniva. On April 1st, Ameresco filed paperwork for an initial public offering that will generate the clean energy project developer and consultancy up to $125 million. Earlier this month, Suniva announced that it has received a $141 million loan guarantee from the U.S. Department of Energy. The solar manufacturer intends to use the loan to finance a new manufacturing plant in Michigan.
In financing news, earlier this month Deloitte and Cleantech Group released preliminary numbers for clean tech venture funding for first quarter 2010. At $1.9 billion worldwide, venture financings for clean tech companies were up 83% from the same period a year ago. For more on financing trends to watch in 2010 and beyond, please see our recent article in The Deal Magazine.
In news from Capitol Hill, Senators John Kerry (D-Mass.), Lindsey O. Graham (R-S.C.) and Joseph I. Lieberman (D-Conn.) will announce their compromise climate proposal on April 26th. For the most up-to-date information on the legislation, please click here to find the most recent ML Strategies Energy and Environment Update.
We hope that you enjoy this month’s edition of the newsletter.
