Renewable Energy

DARPA Joins Blue Energy and World Energy in Race to Harness Ocean Power

Is the world ready for another ambitious ocean power program?  Blue Energy Canada Inc. and World Energy Research are moving quickly in that direction.  After signing a memorandum of understanding last month, the two companies just announced a formal agreement to build a 200 megawatt, half-billion dollar commercial tidal power project based on Blue Energy’s Davis Tidal Turbine.  Meanwhile, DARPA (the U.S. Defense Advanced Research Projects Agency) has been quietly working the other end of the scale to develop buoy-sized ocean power generating equipment.

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U.S. Military Targets Toxic Enemy #1: Hexavalent Chromium

If hexavalent chromium doesn’t ring a bell, think chrome, the stuff that puts the shine on everything from bathroom faucets to motorcycles.  If that still doesn’t help, maybe Erin Brockovich does.  In the 1990’s, the former legal clerk fought to expose hexavalent chromium contamination in drinking water, in the small California town of Hinkley.  The result was a record-breaking settlement and a major motion picture.  Fast forward to April 2009, and the U.S. military is adding a new chapter to the Brockovich book.  The Department of Defense has issued a formal memo requiring an aggressive across-the-board reduction in the military’s use of hexavalent chromium, otherwise known as chromium 6.

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VCs Expect Slow Recovery, But Cleantech Remains a Bright Spot

While cleantech investment appears to be on the rebound, it’s clear the recession isn’t over yet. Mark Jensen, managing partner for the venture capital services group at Deloitte & Touche, said Wednesday that about half of the largest venture-capital firms expect to reduce their overall investments in the next few years in response to the recession.

But venture-capital firms expect cleantech to fare better than most other categories. According to the Deloitte survey, a whopping 95 percent said they plan to either increase or maintain their level of cleantech investment, with 63 percent anticipating more investment and 32 percent expecting to invest the same amount as they do now.

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Cleantech Group: Solar Startups See Venture Capital Fall in 3Q

Solar venture investments hit a three-year low in the second quarter, the Cleantech Group said Wednesday. According to Brian Fan, senior director of research for the group, solar startups in North America, Europe, China and India raised a total of only $113.8 million for the quarter, which is down 7 percent from $365.7 million in the first quarter and down 86 percent from $834.7 million in the year-ago quarter.

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Can the U.S. Government Be an Effective Cleantech VC?

As stimulus funding leads some industry insiders to think of Washington as “the new Wall Street” for green energy, some investment experts say they’re concerned about the government’s new role. “I worry about the government as a dealmaker in this space,” said Tom Bratkovitch, director of LP Capital Advisors, a consulting firm for private-equity investors, at a Thomson Reuters conference in Palo Alto, Calif., this week. “I just don’t know if the government is the best one to make decisions in this space.”

After all, the federal government has supported some technologies that have not panned out, while missing some that have ultimately been successful. The government also has a reputation for moving slowly – though the Department of Energy certainly is trying hard to get stimulus money out as quickly as possible – and the applications for the grants and loan guarantees can be extremely time-consuming.

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