EV King Tesla – Where Did the Cash Go?

by Neal Dikeman, chief blogger Cleantechblog.com

Since it’s launch, cleantech darling Tesla (NASDAQ:TSLA) has delivered huge revenue growth in the electric vehicle market.  With a market cap of over $20 billion, it’s more than a 1/3rd of that of the massively higher volume GM or Ford.  Largely the market cap has been driven by phenomenal growth numbers, 60% YoY revenues last in 2014, and the company forecasts 70% increase in unit sales YoY in 2015.

But let’s take a deeper look.

The Company trades at 7.5x enterprise value/revenues, and 26x price/book.  At the current market cap, it needs to deliver the same revenue growth for another 4-5 years before normal auto net profit margins would bring it’s PE into line with the the other top automakers.  Of course, that assumes no stock price growth during that time either!  Our quick and dirty assessment test:

Take 2014 revenues, roll forward at the YoY growth rate of 60%.  Take the average net profit margins and P/Es of the major autos (we used two groupings, 2-3% and 20-25, and 7-8% and 12-17), roll forward until the PEs align, see what year it is (2018-2020).   That’s our crude measure of how many years of growth are priced in.  And it puts Tesla at between a $20-$50 Billion/year company (7-15 current levels) before it justifies it’s current market cap.  Or c. 300,000-1.5 mm cars per year depending on price assumptions.  Up from 35,000 last year.

Does it have the wherewhithal to do that?

Tesla Financials

 Well, looks awfully tight.  The numbers technically work, continued growth will cure a lot of ills.  But while nominally EBITDA positive now, the company has been chewing cash in order to sustain future grow.  2014 burned nearly $1 billon in cash in losses, working capital and capex to anchor that growth, almost as much in cash burn as the company delivered in revenue growth.

Positive progress on working capital in 2013 disappeared into huge inventory and receivables expansion at the end of 2014, and interest on the new debt for the capital expansions alone chewed up 10% of gross margin, while both R&D and SG&A continue to accelerate, doubling in 2014 to outpace revenue growth by more than 50%.

The cash needs this time around were fueled by debt, which rose over $1.8 bil to 75% of revenues.  Overall liabilities rose even more.  Current net cash on hand at YE was a negative half a billion dollars, seven hundred million worse than this time last year.

The company will argue it is investing in growth, and you can see why it better be.  With almost every cost and balance sheet line currently outpacing revenue growth, at some point a company needs to start doing more making and less spending.

So yes, continued growth outlook is still exhilarating (depending on your views of the competition and oil price impact), but the cost to drive it is still extremely high.  I think we will look back and see that 2014 and 2015 were crucial set up years for Tesla, and the really proof in the pudding is still probably 24 months in front of us.  And my guess is Tesla will be back hitting the market for equity and debt again and again to keep the growth engine going before it’s done.

 The author does not own a securities position in TSLA.  Any opinion expressed herein is the opinion of the author, not Cleantech Blog nor any employer or company affiliated with the author.

Healthy Planet Partners Closes Distributed Generation and Energy Efficiency Fund

Healthy Planet Partners Energy & Infrastructure Fund, LP announces a final close at $26 MM,
limited partnership to finance distributed generation and energy efficiency projects across North America

GREENWICH, CT, JULY 9, 2014 – Healthy Planet Partners Financing Company, LLC (‘HPP’), an asset manager founded in 2013, announced the final closing of its inaugural fund, Healthy Planet Partners Energy & Infrastructure Fund, LP (‘HPP-EF’), with $26 MM of commitments.

The investment fund will provide project finance for distributed generation and energy efficiency transactions.

Michael Richter, CEO and Managing Partner of HPP said: “CEOs, CFOs and facility managers are demanding holistic energy solutions for their facilities. Our approach enables client partners to confront environmental impact and operational costs simultaneously. We are very proud that our limited partners recognize the value that HPP delivers in the industry and we are excited to start executing on our pipeline of projects across the United States.”

Richard Dovere, President and Managing Partner of HPP said: “The HPP investment platform leverages the deep sector expertise of our team to create strong investment opportunities within our niche. Our first fund allows us to partner with customers, leading developers, Tier 1 manufacturers, and best-in-class construction companies to offer a suite of financial products.”

HPP executives will be attending Intersolar North America in San Francisco from July 8-10th, and will be available to meet in person at the conference.

About Healthy Planet Partners, LLC
HPP is an asset manager focused on investments in energy and infrastructure. The firm provides capital and expertise to help clients minimize environmental impact and maximize performance. HPP targets investments serving commercial, industrial, governmental and utility clients in energy and infrastructure.
For further information about HPP, see www.healthyplanetpartners.com .

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
This press release contains forward-looking statements. Statements that are not historical facts, including statements about HPP’s beliefs, plans or expectations, are forward-looking statements. These statements are based on current plans, estimates and expectations, all of which involve risk and uncertainty. Actual results may differ materially from those included in such forward-looking statements and therefore you should not place undue reliance on them. HPP undertakes no obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future developments or otherwise.
# # #

Green & Grow Inc. Secures $6M Series B Funding From Otter Capital

Texas, 26 August 2014:

Green & Grow Inc. (GGI) has raised an additional $6 million in Series B funding and secured Otter Capital as a significant new partner. Otter Capital’s expertise and investment capital will accelerate commercialization of GGI’s Agriplier™ technology, building on recent compelling field trial results across multiple crop types.

“Since our first meeting, we have been impressed with Otter Capital’s knowledge and commitment to the biological product space,” said Alan Sobba President and CEO of GGI. “We look forward to John’s valuable input and guidance as we work together to complete the commercialization of our exciting technology.”

GGI’s range of Agriplier™ products is based on non-living, non-toxic, microbe derived by-products, which contain specific metabolites and stimulants that significantly improve many crops. In the 2013 Independent Professional Seed Association (IPSA) trials, GGI products were the top performing yield enhancement seed treatment products across both corn and soybean, increasing yield over the current commercial seed treatment package. Independent researchers also observe visual improvements in early season plant vigor. Similar results have been demonstrated across a wide range of crops and geographies. The compatibility of Agriplier™ products with both existing chemical and living biological products is also a key differentiator, which will simplify the adoption of the technology.

“I am excited by the potential for selected biologically derived products to make a significant impact in the agriculture industry and the 2013 Green & Grow field trial results illustrate that its technology has already made the critical leap from the lab to achieving success in the field,” said John Pasquesi, Managing Member of Otter Capital and former Chairman of the Board of AgraQuest. “I look forward to working with the GGI team to optimize the delivery of their technology to market and to continue to build the business.”

GGI is currently mid-way through the process of working with industry partners, distributors and end-users to bring the Agriplier™ technology to market. Otter Capital’s investment and experience with this process will significantly assist GGI in selecting the most appropriate route to market and in completing this process.

GGI was represented by Sidley Austin LLP in the transaction.

About Otter Capital

Otter Capital has a strong track record developing leading edge agriculture and food production companies. Otter was an early and consistent investor in AgraQuest, a leading biopesticide company. In 2012, Bayer CropScience acquired AgraQuest for $425 million plus earnouts. John Pasquesi previously served as Chairman of the Board of Directors of AgraQuest. More recently, Otter Capital invested alongside Khosla Ventures in a $15 million funding round for BioConsortia, Inc. – an agricultural biotechnology company.

Otter Capital was founded by John Pasquesi to make a variety of private equity investments. Prior to founding Otter Capital in 2001, he was a Managing Director and member of the Executive Committee of Hellman & Friedman LLC – a private equity investment firm. Prior to joining Hellman & Friedman in 1987, Pasquesi was associated with Golder, Thoma & Cressey – a Chicago-based private equity firm.

For more information on Otter Capital, please visit www.ottercapital.com.

About Green & Grow Inc.

Green & Grow Inc. (GGI) is dedicated to developing and commercializing biologically derived agricultural products.

Its first range of Agriplier™ products is based on non-living, non-toxic, microbe derived by-products which contain specific metabolites and stimulants that significantly improve many crops.Agriplier™ products can be easily integrated into multiple seed treatment processes, as well as utilized as a soil amendment. As a non-living product, a key differentiator of Agriplier™ is that it can be easily integrated as an additive solution to both existing chemical and living biological products.

GGI has recently developed a line of OMRI listed products which utilize the Agriplier™ technology. These are being rolled out for ongoing trials with a small number of early adopters.

Agriplier™ is a registered trademark of Green & Grow Inc., a Delaware corporation

Press Contact:

Gregg Spivey, Director
gspivey@greenandgrow.com
www.greenandgrow.com

Causam Energy to Acquire Power Analytics Corporation

RALEIGH, N.C. – July 29, 2014 – Causam Energy, Inc., headquartered in Raleigh, today announced a definitive agreement to acquire Power Analytics Corporation, a privately held software and professional services company with offices in San Diego and Raleigh. Power Analytics’ innovative software products solve complex power and energy problems, and in combination with Causam will accelerate the development of advanced communications and analytics solutions for the electric power grid. Financial terms were not disclosed.

“Power Analytics’ products and people are the best in the business,” said Joe Forbes, Jr., CEO of Causam. “Having a proven suite of high value products with a significant portfolio of intellectual property behind them, substantially greater resources and strong, experienced management, this new company is uniquely positioned to develop and deliver the critical solutions required by the impending next generation energy grid.”

Power Analytics’ Paladin® platform will be a core component in the development of additional applications covering real-time communication, advanced energy settlements, distributed generation and intelligent analytics. Causam brings a state of the art design center, additional resources that will enable rapid product development, and a management team that has successfully scaled a number of technology companies.

“Causam is an excellent strategic fit for us,” added Power Analytics President and Chief Technology Officer Kevin Meagher. “This union empowers us to continue providing high-quality products and service to customers while adding resources to extend and enhance our existing products that will help our customers meet the demands of the rapidly evolving grid.”

Power Analytics’ award-winning Paladin® family of software products is used worldwide by utilities, government agencies, and commercial microgrids and data centers, including the University of California at San Diego, which operates the largest public microgrid in the U.S. today. In April 2014, Power Analytics was named to Greentech Media’s Grid Edge 20, as one of the 20 most innovative companies leading the charge into grid modernization. Greentech Media has also recognized Meagher as one of “100 People You Must Know in Smart Grid.”

“Microgrids and other distributed energy resources hold great promise for improving energy reliability and security, balancing loads and reducing our dependence on fossil fuels,” continued Forbes. “This combination will accelerate the introduction of additional grid solutions, improving access, grid security and data analytics.”

Post-merger, Power Analytics will operate as a wholly-owned subsidiary of Causam, with Meagher becoming chief operating officer. Forbes, Taylor Brockman and David Bass will serve as CEO, CTO and CFO, respectively, for both Causam and Power Analytics.

About Causam Energy, Inc.

Headquartered in Raleigh, North Carolina, Causam Energy has developed a suite of technologies and commercial applications to enable, facilitate and provide real-time, two-way actionable communications that provide greater intelligence for the electric power grid. Causam’s solutions will accelerate the transition from “Smart Grid 1.0” to “3.0+” where secure, Internet protocol-based communications and real-time data combine for grid intelligence and optimization.

About Power Analytics

Used by the power industry for more than 25 years, Power Analytics’ software is at the forefront of the electrical system planning and operation space for energy intensive, mission-critical facilities and microgrids. Power Analytics’ Paladin® products currently protect more than $120 billion in customer assets, including financial data centers, air traffic control sites, military installations, deep sea oil platforms and power generation and distribution facilities. For more information, visit http://www.poweranalytics.com

Time running out for CleanTech Revolution means more pressure for BlueTech Innovation

Has a Cleantech crash spurred the need for Bluetech innovation?

The recent CBS 60 Minutes documentary, The Cleantech Crash, was an apocryphal tale of wasted government funding and failed companies, and left one feeling sorry for a much maligned Vinod Khosla, deemed to be a prime architect behind the ‘failed cleantech revolution’. Khosla has rallied with a strong and stirring rebuttal in open letter to CBS.

Cleantech, (if narrowly defined by in terms of renewable energy technology), is indeed in the doldrums.

The figures quoted by Michael Liebrich, founder and chairman of the advisory board for Bloomberg New Energy Finance, at the Ceres 2014 Investor Summit on Climate Risk support this. Global investment in clean energy fell for the second year in a row to $254Bn last year with investment in Europe falling from $98Bn to $58Bn, a drop of 41%.

The vision for a green revolution has not materialized and this is primarily as a result of two things: shale gas and the global economic crisis.

Shale gas, and unconventional fossil fuels in general, have pushed the timeline for a cleantech transition towards low-carbon energy systems out by at least 50 years. As a result, energy security has ceased to be a political driver in North America as a result of unconventional fossil fuels.

Indeed, the global economic crisis has impacted projects in many industry sectors. The downturn halted the upward pressure on oil prices and sidelined the economic viability of renewables, which must compete with and are benchmarked against an incumbent energy system with an ever-changing and volatile canvass.

The economic viability of renewables are linked to oil prices. In fact one of the single biggest challenges to building a stable economic platform for renewable energy, is the volatility of fossil fuel energy, where the goal-posts keep moving.

Appetite to address climate change is gone, but climate change is not

Whatever appetite there may have been in the good times to address climate change and spur a move towards a low carbon economy with feed-in tariffs and production tax credits is now gone. Both of these support mechanisms are under pressure and the very notion of a carbon tax seems like a distant out of context idea from the pages of a history book.

There is no money, political will, or need (in terms of primary energy needs) to fund the transition to a low carbon green energy economy.

While climate change may have disappeared from the political agenda and the media, it continues to do its work quietly, and occasionally loudly, as we experience extreme weather events.

The ascendancy of unconventional fossil fuels and resulting demise of cleantech renewable energy are working in tandem to compound water pressures

Ironically, the ascendancy of unconventional fossil fuels and the resulting demise of cleantech renewable energy create more pressure on water resources and hence more water technology opportunity than would have been the case if we had transitioned to a low carbon economy.

From an operational perspective, solar PV and wind energy use essentially no freshwater and they help mitigate climate change.

On the other hand, both conventional and unconventional fuel energy sources require water in the extraction process and create produced water, which has to be treated.

Currently, we meet almost 80% of our primary energy needs through fossil fuels and that looks set to continue for the coming decades. It’s been reported that the world average freshwater intensity for conventional on-shore oil extraction is 21m3/TJ, while shale gas freshwater intensity ranges from 3-17m3/TJ.

The subsequent carbon emissions from combustion accelerates climate change, which again, puts more pressure on water resources and leads to intense rainfall events which have to be managed.

The cleantech energy revolution was never going to solve our water issues, but its absence exacerbates them.

Water is now more than ever inextricably linked to the future of how we provide energy for the planet and feed the people on it.

Cleantech is alive and well in areas of energy efficiency, resource recovery and water re-use

The cleantech umbrella includes more than renewable energy, and is alive and well when it comes to areas such as energy efficiency and resource recovery.

There is still a compelling business case and opportunities in saving energy and recovering resources and in general doing more with less. There are opportunities to convert waste and wastewater to energy and to recover nutrients and other valuable materials.

Based on recent analysis, we estimate there is 49 million MW hours of energy potential present in municipal wastewater each year in the USA and 1.1 million tonnes of phosphorous entering municipal wastewater plants in Europe, equivalent to 34% of total EU phosphorous imports each year.

All of this creates for opportunities for value generating innovation and re-evaluating systems efficiencies to create cleantech opportunities.

This is reflected in the fact that in 2013 27% of the water investments tracked through the BlueTech Innovation Tracker mapped to energy and resource recovery. When we look at highly disruptive technologies by theme, again there is a concentration and clustering around energy efficiency and resource recovery, with 29% of Disrupt-o-Meter™ highly disruptive companies in the energy and resource recovery area, 13% in low energy desalination.

All of these have a compelling value propositions in their own right, as does water re-use.

Interesting times ahead for water

There is a Chinese saying – may you live in interesting times – which is regarded as both a blessing and a curse. Whether we like it or not, we are living through such times, and I believe the changes we will see in the water system in the next two decades will represent a very unique period in our history in terms of how we manage water.

 

First Institutional Project Finance Capital Raised for Urban Agriculture

NEW YORK, NY, March 6, 2013 – It was announced today that prominent renewable energy
investor Clean Feet Investors has provided BrightFarms with a $3M project equity facility; this
investment is believed to be the first institutional project finance capital for a company focused on
scalable, commercial urban agriculture.

Clean Feet seeks to help socially responsible companies like BrightFarms structure non-dilutive
project finance solutions. BrightFarms builds and operates state-of-the-art greenhouses for the
supermarket industry, creating a dramatically more efficient supply chain. The company’s fresh
supply chain model for scalable local produce offers guaranteed revenues from long-term fixedprice
offtake agreements with supermarkets. BrightFarms has in total raised over $11 million in
capital and has nearly $70 million in contracted backlog with its clients.
BrightFarms’ 56,000 square foot greenhouse in Bucks County, Pennsylvania, has been built with
Clean Feet capital. The Clean Feet capital will also be deployed across other BrightFarms
greenhouse projects, such as those under development in Brooklyn, Saint Paul, Oklahoma City,
and Saint Louis.

“BrightFarms triple bottom line business model prioritizes people, the planet, and healthy profits,”
says Clean Feet Investors Special Manager Jigar Shah. “We are eager to see BrightFarms scale
its innovative business model in a way that eliminates cost and natural resource consumption
from the produce supply chain.”

“We were fully prepared to use our venture capital money to install our first projects, but Clean
Feet offered a better approach. Now we have a project finance structure that can scale with our
business so we can focus on growing good tasting vegetables.” says BrightFarms CEO Paul
Lightfoot.

“We believe that BrightFarms’ business model, which is based on guaranteed revenues from
fixed-price off-take agreements, makes it uniquely scalable and financeable, and thus very
attractive to investors in our Fund,” says Clean Feet Investors Manager Bernard Zahren.
About Clean Feet Investors

Clean Feet Investors I, LLC (CFI) seeks to provide significant returns from socially responsible
investments in small to medium-sized renewable energy and energy conserving projects. By
employing effective investment structures for sophisticated investors, CFI is helping to fill the
current void in “non-dilutive” capital for an industry segment that is both very attractive and critical
for an effective overall energy policy.

About BrightFarms
BrightFarms grows local produce, nationwide. By financing, building, and managing greenhouse
farms at or near grocery retailers, BrightFarms eliminates time, distance, and costs from the
produce supply chain. BrightFarms local produce is fresher, more flavorful, and better for the
environment, enabling grocers to change their produce supply chain in a way that improves the
planet and their profits.

# # #
Contact Information:
Kate Siskel Karen Labout
BrightFarms Clean Feet Investors
ksiskel@brightfarms.com karen@cleanfeetinvestors.com
646-480-5269 860-678-6044

Big Oil & Big Coal to get the US off oil & coal – REALLY??

By Guest Opinion Contributor Richard Hennek

What if the Obama Administration turned over the nation’s anti-obesity program to McDonald’s, Burger King and Wendy’s? You would expect outrage to erupt across the country. Well, that’s exactly what’s happening with America’s clean energy research and development for vehicles.

This year, the FreedomCAR and Fuel Partnership transitioned to U.S. DRIVE, which stands for United States Driving Research and Innovation for Vehicle efficiency and Energy sustainability. This program is a partnership among the U.S. Department of Energy; USCAR, representing Chrysler Group LLC, Ford Motor Company and General Motors; Tesla Motors; five energy companies – BP America, Chevron Corporation, ConocoPhillips, ExxonMobil Corporation and Shell Oil Products US; two utilities – Southern California Edison and Michigan-based DTE Energy; and the Electric Power Research Institute.

The stated goal of the partnership is to accelerate the development of technologies and the processes to produce a full range of electrified and other advanced light-duty vehicles. However, in this transition, the only fossil fuel and greenhouse gas-free solution with the power to transform how we fuel transportation – hydrogen – was quietly dropped from consideration and support.

This is hypocrisy standing in the way of progress. Allowing automakers and big oil companies to control this dialogue while ignoring those that produce hydrogen-powered technologies is wrong. This is an example of the federal government putting its trust in the status quo to change things. If change is the goal, this is doomed to failure.

Hydrogen fuel cells are the only energy source that is carbon free and helps make a meaningful attack on climate change. There seems to be a push for plug-in electric vehicles, which individually are clean; however, these vehicles receive their power from grid electricity that is usually generated by fossil fuels.

The Obama Administration should be commended for helping to increase our nation’s commitment to alternative energy. But investing limited taxpayer dollars in technologies that are short-term solutions, like battery electric or fossil fuel-based, risks putting our nation further behind in the ongoing energy revolution for jobs and a low carbon energy future.

As our elected officials continue to talk about what’s next in alternative energy, companies like Bing Energy International have already brought these promising technologies to market. Our Florida-based facility is creating powerful and cost effective fuel cells that can power our cars and neighborhoods, and they are ready for wide distribution today.

Instead of venturing down the same, worn-out path with the usual suspects, hoping to reach a different destination, the federal government should instead invest in technology like hydrogen that holds a better promise to meet our future needs. Our nation’s energy future depends on it.

Richard Hennek is a co-founder of Bing Energy International, a manufacturer of state-of-the-art components for polymer electrolyte membrane fuel cells, located in Tallahassee, Fla.

Clean Tech Co. breakthrough in electrical energy storage with revolutionary battery design

Lion Energy has developed a battery in the flow category which has major performance and cost advantages over the existing batteries and which could play an important role in distributed generation and allow the large scale proliferation of renewable intermittent power technologies.

Our Battery is using a number of proprietary features: proprietary Redox couple, low cost and durable perm selective membrane based on our production technology, electrodes structure, electrodes irrigation architecture, low cost recycled proprietary composite materials for some of the stack structure, special adhesives.

The Redox couple used is chemically stable, with high solubility of both oxidized and reduced species, and fast Redox kinetics.

The substances contained in the proprietary electrolyte are wide spread and available, allowing the future proliferation of the battery without the risk of materials shortage or depletion.

Our Redox couple is using low cost substances (less than 10% of the vanadium based electrolytes), an important feature since the costs of deploying electricity storage technologies will ultimately play the critical role in their proliferation. The current industry consensus is that for flow batteries to be widely adopted, their price must be under $200/Kwh and the U.S.
government labs set up a target cost of $100/Kwh. Our battery’s estimated cost will be below $25/Kwh.

Kostas LIAPIS the CEO of Lion Energy states that this battery is an important milestone in the development of renewable energy because it offers significant cost savings with better performance than existing batteries. Combined with renewable energy sources such as solar and wind turbines Lion energy’s battery will provide a 24 hour energy release at an economic cost.

Our company Lion Alternative Energy PLC is in a process to do a private placement and in 2 years to be listed in London, we are also looking for investors.

For accredited investor, call Mr Kostas LIAPIS , CFO, at +447503100999 or email kostas@lionhellas.com

Tar Sands Becoming Banned in EU?

By Chris Keenan

The European Union is known to have a lot of momentum in consumer and environmental movements. The countries have made efforts to help promote alternative energy and use more eco-friendly consumer practices. Today, the European Union is targeting banning the practice of tar sands.

The tar sand is a controversial practice in which low quality oil is drawn from sands that have a mixture of clays and other materials. The practice is very intensive on the environment for all the pollution it causes. Greenhouse gases are produced at a much higher rate from this than conventional methods such as drilling. It also consumes a lot of water to filter out the oil and is very difficult to mitigate when the water needs to be treated. Canada is the place where most of the tar sands come from in the Alberta area. Tar sands have been a source of outcry from environmental activists all over the globe. This same movement for banning tar sands also may help push out other controversial practices like those of shale gases.

The voice behind this movement, Connie Hedegaard, is the EU’s climate change commissioner. The commission she is involved in has decided to back a new order on fuel quality. This will set minimum environmental standards for a range of fuels, including tar sands, coal converted to liquid and oil from shale rock so that they are stricter on quality and environment. Hedegaard said: “With this measure, we are sending a clear signal to fossil fuels suppliers. As fossil fuels will be a reality in the foreseeable future, it’s important to give them the right value.”

Greenpeace was another active participant. The EU transport policy adviser, Franziska Achterberg expressed that it was a victory for the commission because of all the aggressive lobbying tactics of the fossil fuel companies.

The proposals have now been sent to EU member states, such as Germany, Italy and other major countries. Those countries will convene together in four to six weeks to vote on the proposal. It will then go to the European parliament for final approval.

If the proposed standards are accepted, they will get rid of the importation of tar sands, unless producers can change their methods to being much better on the environment and health. The proposition by the commission involves that tar sands are to be attributed a greenhouse gas value of 107 grams per megajoule of fuel in comparison to 87.5 grams per megajoule for regular oil. Producers will also have to cut the carbon footprint of their fuels by 6 percent in a few years.

Paul Morzzo, a Greenpeace representative, stated that the proposal is the best action. “The key question now is what will the UK government do – will it be, as David Cameron once claimed, the greenest government ever and support the ban or will the government adopt the George Osborne approach…where carbon emissions and the destruction of the environment seems to be a price worth paying.”

There is hope that there will be an agreement that will support the movement for tar sands and other fuels being banned in the EU and hopefully in the US in time. The proposal has made it through tough obstacles with opposition and lobbying and is appearing to be a success.

Chris Keenan is a green and general blog writer. He writes for many sites including Precision Garage Door. Chris also maintains a personal house and garden blog.

‘Produced Water – Technical and Market Overview’ – the latest webinar from BlueTech Tracker.


Produce water equipment illustrating BluTech Tracker webinar

The environmental issues surrounding hydraulic fracturing or “fracking” and the produced water associated with it has become a subject of intense debate within the United States as well as other parts of the world (e.g. the recent fracking Ban in France). This webinar will go beyond the media buzz by bringing together experts in the field of produced water treatment to discuss the technical issues and market realities.

This webinar will provide a perspective on the differences / similarities between the scale of the Produced problem in different areas (USA, Europe, Australia), variations in the Produced Water Characteristics, regulations and technology approaches.

Produced Water – Technical and Market Overview is the latest webinar to be announced by BlueTech Tracker.  The event will be held on October 27th, 12.00 – 13:30 PM EST; 5.00 PM – 6:30 PM BST

To register or to read more click on the link ‘Produced Water – Technical and Market Overview’ 

 

Turning whey from dairy wastewater into alcohol and revenue

Turning whey from dairy wastewater into alcohol and a revenue stream was the subject of a recent presentation by Paul O’Callaghan CEO of O2 Environmental. This presentation was for Water Tech Week February 2011 in San Jose, California, USA and outlines, by way of a case study, how it is possible to save money and actually create revenue streams. This is through sustainable water and energy management and with a little bit of creative out thinking based on the work of Carbery Milk Products.

Carbery Milk Products is a major international food ingredients, flavours and cheese manufacturer headquartered in Cork, Ireland. They have operations in the US and were examining what to with their whey in their waster water.  What is interesting was they were not motivated by environmental reasons, there was an economic driver.

To view the PowerPoint here is the link http://www.o2env.com/wp-content/uploads/2011/10/Dairy-Wastewater-PowerPoint-Turning-Whey-into-Alcohol.pdf

To view the script linked to the presentation here is the link http://www.o2env.com/wp-content/uploads/2011/10/Dairy-Wastewater-script-Turning-Whey-into-Alcohol.pdf

Clean Energy Patent Growth Index 2010 Year End & 4th Quarter Results

FOR IMMEDIATE RELEASE
March 29, 2011

Contact: (518) 452-5600
Victor A. Cardona, Esq.
Jeff Rothenberg, Esq.
Alana M. Fuierer, Esq.
Email: vac@hrfmlaw.com

HESLIN ROTHENBERG FARLEY & MESITI P.C. ANNOUNCES
CLEAN ENERGY PATENT GROWTH INDEX
2010 YEAR END AND 4TH QUARTER RESULTS
GRANTED PATENTS HIT RECORD IN 2010
GM TAKES CROWN FROM HONDA
SOLAR, WIND, FUEL CELLS UP
US LEADS WORLD AND CA TAKES STATE LEAD FROM MI

ALBANY, NY—Heslin Rothenberg Farley & Mesiti P.C. is pleased to announce the 2010 year end, and 4th quarter, results for the Clean Energy Patent Growth Index (CEPGI) by the firm’s Cleantech Group.

The CEPGI tracks the granting of patents in the Clean Energy sector and monitors important technological breakthroughs in this field. Victor Cardona, Co-chair of the firm’s Cleantech Group stated, “we are pleased to announce that results for the Clean Energy Patent Growth Index indicate that Clean Energy Patents hit a record high in 2010, up over 700 patents relative to 2009. GM took the yearly Clean Energy Patent Crown from Honda in 2010 while U.S. patent owners hold more U.S. patents than any other country. Also, solar patents passed wind patents in 2010 while fuel cells continued to lead.”

The Clean Energy Patent Growth Index (CEPGI) provides an indication of the trend of innovative activity in the Clean Energy sector since 2002 in the U.S., along with Leading Patent Owners and Leading Country and State information. Results through the fourth quarter of 2010 reveal the CEPGI for 2010 to be at its highest level ever at 1181 granted patents, up over 170 percent, as depicted below. This is the largest year to year jump since we began tracking clean energy patents by over three times the previous year to year difference. This compares to a 31 percent increase generally for all patents from 2009 to 2010 – which was the best showing ever for patents generally. Clean energy innovation is clearly far outpacing technology in general.

As depicted in the below breakdown of the CEPGI by its sub-components, patents in fuel cells and wind were each up over fifty seven percent over 2009. Solar patents were up an astounding 134 percent while hybrid/electric vehicles were up sixty percent. Tidal energy and biomass/biofuel energy patents were up twenty eight and forty one percent, respectively, at fourteen patents each. Hydroelectric patents were up sixteen patents, an over five hundred percent increase. Geothermal patents was the only sector that decreased at five less patents than 2009, a fifty percent decrease. All of the technology sectors, except geothermal, were at all time highs in 2010, surpassing all previous records.

GM took the annual clean energy patent crown from last year’s winner Honda. Samsung jumped to second place, largely on the strength of its fuel cell patents, overtaking Honda and Toyota relative to 2009. Toyota increased its annual total by 20 patents to get fourth place while GE increased by thirty to place in fifth. Nissan (6th), Ford (8th) and Hyundai (9th) rounded out the automobile competitors for 2010. GE placed fifth predominantly on the strength of its wind patents which was over twice the number of patents of its nearest wind patent competitor in 2010, Vestas Wind Systems. Panasonic came in 7th in 2010 to tie its 2009 showing on the strength of its fuel cell patents and exceeded the 29 patents from 2009 by five patents, after having had only 6 in all the prior years. Hitachi rounded out the top 10 with 23 patents which were predominantly in the fuel cell and wind areas. Canon, far and away the solar photovoltaic patent leader since 2002, missed the top ten with a 12th place showing in 2010 at 15 patents.

Geographically, US patent owners held far more US clean energy patents than any other individual country in 2010. Japan, Korea and the US appear to be on an upward trajectory with the US taking a huge leap in 2010 after being on a slight uptrend from the time tracking began until 2009. South Korea surpassed Canada in 2008 and Germany in 2010. Germany trends slightly upwardly while the others are holding steady and the number of Canadian clean energy patents slightly decreasing. Looking at 2010 in more detail, Denmark (33) and France (29) fall between Canada (24) and Taiwan (40). China made a showing at 15 clean energy patents which far surpassed its previous high of 6 in 2009. Great Britain followed with 13 patents while Israel and Switzerland had nine clean energy patents in 2010.

Looking at the U.S. data in more detail, California overtook Michigan as the leading US state for clean energy patents in 2010 despite huge increases from both states of over 90 patents each. New York also had a big jump of 40 patents over the prior year. Smaller increases were found for Illinois, Connecticut and Texas while Massachusetts declined by two patents. Connecticut and Massachusetts tied at 30 in 2010 while Ohio (25) and Pennsylvania (tying Texas at 24) weren’t far behind. Florida at 23 rounded out the states having over 20 clean energy patents in 2010. Others had big increases including Oregon up 10, Virginia up 13, Delaware up 12, and New Mexico up 14.

Further information regarding the CEPGI is available at www.cleanenergypatentgrowthindex.com. Heslin Rothenberg Farley & Mesiti P.C. is dedicated exclusively to representing clients in the protection and commercialization of intellectual property, both domestic and foreign, including patents, trademarks, copyrights and trade secrets. The firm has gained national recognition in the area of Intellectual Property Law and was listed among the “Top Patent Firms” and “Top Trademark Firms” in Intellectual Property Law Today.

Email inquiries at vac@hrfmlaw.com.

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Sunetric Offers Free Solar PV Systems to Raise Money for Japan

HONOLULU— www.hawaiiredcross.org, www.withaloha.org and www.Sunetric.com — Sunetric, Hawaii’s largest locally owned and operated solar installer, has donated two solar photovoltaic systems to raise funds for two local charities assisting Japan. The first is the American Red Cross Hawaii State Chapter and the second is the “With Aloha” Foundation. Donations raised through the website www.solarforjapan.com will go directly to the American Red Cross Hawaii State Chapter and the “With Aloha” Foundation to aid in the relief efforts. Donors of $10 or more will automatically be entered to win one of the solar arrays. Winners for both PV systems will be drawn live on ESPN radio’s Bobby Curran Show on Monday, May 2.

More than 12,100 people have been confirmed dead and nearly a half million people are homeless in the wake of the earthquake and subsequent tsunami that hit north-east Japan on March 11. Funds are urgently needed for food, water, medicine, shelter and clothing. The first donation benefits American Red Cross relief efforts in Japan. The American Red Cross has been a primary source of support for the residents in the wake of the disasters in Japan. “We are so grateful to Sunetric for their compassion in this time of great tragedy. Their efforts in raising much needed funds for the American Red Cross Japan Earthquake & Pacific Tsunami relief effort will help us save lives and give hope to those in need. We cannot thank them enough for their wonderful contribution to the cause of humanity,” said Coralie Matayoshi, CEO of the American Red Cross, Hawaii State Chapter.

The second donated PV system supports the “With Aloha” Foundation which is holding a fundraiser on April 9 at the Pagoda Hotel. Presented by aio, the fundraiser is a block party, benefit concert, and food tasting featuring 24 local restaurants and entertainers from around the world. Proceeds from this event, along with donations raised by the solar giveaway, will be sent to Tohoku University Hospital in Sendai, Japan, where many of the earthquake and tsunami victims are receiving care.

“We are so thankful for Sunetric’s generosity in donating not one, but two, photovoltaic systems to help raise funds for the victims of Japan’s earthquake and tsunami,” said Susan Eichor, aio President & COO. “With Aloha is a community inspired movement of Hawaii organizations coming together and helping those in need. We are humbled to partner with companies like Sunetric to support Japan …With Aloha.”

The $15,000 solar arrays are projected to save an average household more than $100 per month. Both donated systems are identical and offer ten Trina PV panels of 230 Watts per panel. They come with 3000W Centralized Inverters and 25-year production warranties. The systems must be installed on the island of Oahu, but winners can transfer their prizes to a friend or family member. Donors to the Japan relief efforts will automatically be entered to win. To register, go to www.SolarForJapan.com. For every $10 donation, one entry to the drawing will be given. For $20, two entries will be given and so on. No purchase or donation is necessary.

“As a local company, Sunetric is proud to be involved in the effort to provide help and kokua for Japan,” said Sunetric Founder Sean Mullen. “Through this partnership, Oahu residents can make a difference for Japan’s people, while also getting an opportunity to switch to solar.”

About the American Red Cross:

The American Red Cross, a humanitarian organization led by volunteers and guided by its Congressional Charter and the Fundamental Principles of the International Red Cross Movement, provides relief to victims of disaster and helps people prevent, prepare for, and respond to emergencies.

About aio:

aio is a family of businesses specializing in media, technology, sports and food. Media include: Hawaii Business, Island Family, Honolulu, Hawaii Home + Remodeling, Hawai‘i, Hawaii-Ai, Ala Moana and Whalers Village magazines; Hawaii Buyer’s Guide and Lei Chic (online newsletter)and ESPN 1400 and 1500 AM (radio). Other aio companies include: Watermark Publishing (books), Obun Hawaii Group (printing), Upspring Media (software and websites), Talisman LBS (mobile marketing), B. Hayman Co. (commercial turf), Punalu‘u Bake Shop, Hukilau Honolulu Restaurant, Nutricopia (food) and HWB Foundation.

About Sunetric:

Founded in 2004 by Sean and Beth-Ann Mullen, Sunetric is Hawaii’s largest locally owned and operated solar installer. Since its inception, Sunetric has designed and installed more PV than any other company in the state and is responsible for nearly 60,000 solar panels and 12.5 megawatts of solar installed across all islands, providing the equivalent greenhouse gas benefit of taking 3,000 vehicles off Hawaii roads each year. Hawaii’s first SunPower Elite dealer, Sunetric has installed several of the largest photovoltaic systems in Hawaii, including Kona Commons shopping center on the Big Island, Wilcox Memorial Hospital on Kauai, and Y. Hata on Oahu. Visit www.sunetric.com for more information.


FACT SHEET
Sunetric’s Solar PV giveaways benefit American Red Cross and “With Aloha” Foundation

Who: American Red Cross Hawaii State Chapter, “With Aloha” Foundation and Sunetric.

What: Online Giveaway of two (2) donated $15,000 solar photovoltaic systems ($30,000 total).

Why: To support the victims of Japan’s disasters through the American Red Cross Hawaii State Chapter and “With Aloha” Foundation.

How: Register at www.SolarForJapan.com. No purchase or donation necessary. Every $10 donation automatically gets one entry to the drawing; every $20 gets two entries, and so on.

When: Register online now through May 1. Winners will be drawn live on ESPN radio’s Bobby Curran Show on Monday, May 2.

SYSTEM DETAILS
• Value: $15,000
• Ten 230W Modules
• Brand of Panel: TRINA
• Unirac Sunframe Compression Racking System
• 3000W Centralized Inverter
• $105.28 per month savings
• $1,263.36 per year savings
• Installation and permitting included for the island of Oahu
• Giveaway transferrable on the island of Oahu
• Installation must begin on or before May 1, 2012

WARRANTIES
• 5 Years for the module
• 25 Years for production

FOR MEDIA ONLY: For an electronic version of these documents or images, please contact Julie Ford at (808) 593-2890 or Julie@schweitzerconsulting.com.

Intelligent Energy Raises £7 Million to Accelerate Commercialisation Plans in Further Material Up Round

Loughborough UK, 14th April, 2011 – Intelligent Energy, the global clean power systems company, today announced it has recently completed a fundraising round of approximately £7 million ($11 million) from existing and new institutional shareholders. This investment, achieved through a placement at £1.70 per share, enables Intelligent Energy to accelerate the commercialisation of its advanced fuel cell power systems.

“This material up round helps us to further accelerate the commercialisation of our clean power systems,” commented Dr. Mark Lawson-Statham, Director of Corporate Finance at Intelligent Energy. “We are experiencing real customer pull for our fuel cell power systems across our market segments. This is not surprising, as like us, a number of our partners and customers are seeing major commercial tipping points across the automotive, consumer electronic, backup power and combined heat and power markets.”

Late last year, the company announced its joint venture with Scottish and Southern Energy, IECHP (UK and Eire) Ltd., had received a £3.7 million investment from Scottish and Southern Energy, Scottish Enterprise and Intelligent Energy, to continue the development of fuel cell combined heat and power (CHP) systems for residential, commercial and light industrial markets in the UK and Ireland.

“Volatile oil prices and the fragility of our current energy infrastructure, further highlights the need for clean and reliable energy technologies,” said Dr. Henri Winand, Chief Executive of Intelligent Energy. “This investment allows us to continue the commercialisation of our fuel cell technology, some of which is already undergoing public road testing. Our Fuel Cell Black Cabs have debuted on the streets of London, while the Suzuki Burgman Fuel Cell Scooter recently obtained European Whole Vehicle Type Approval – a first for any fuel cell vehicle.”

About Intelligent Energy

Intelligent Energy is a global clean power systems company, with a range of leading fuel cell and hydrogen generation technologies. The company partners with leading global companies in the transportation, oil and gas, aerospace, defence, distributed generation and portable power markets. Current partners and customers include Scottish & Southern Energy plc and The Suzuki Motor Corporation, with whom Intelligent Energy built the Burgman Fuel Cell Scooter, a recent recipient of European Whole Vehicle Type Approval, which qualifies the scooter as safe to use on EU public roads. Other successes include developing the world’s first hydrogen fuel cell motorbike and supplying the fuel cell system to Boeing which powered the world’s first manned fuel cell aircraft.

A Better World – Are Energy Managers Optimistic for The Future?

ABB takes pride in their technology and innovations which allow companies to reduce their energy usage and increase product efficiency without compromising productivity. The environment and renewable energy is top priority at ABB. Therefore they sponsored a survey of energy professionals that have been asked to comment about the various issues concerning energy usage, the environment, and the government’s role in enforcing environmental rules on utility companies. The survey was conducted by Bloomberg Businessweek and concluded that most energy professionals agree that a change is needed to encourage companies to use their energy more efficiently. ABB believes that a better, cleaner future relies on smart technology that uses renewable energy.

ABB is a company specializing in creating innovative technologies that use the world’s energy in a more efficient way, while decreasing environmental damage. ABB sponsored an energy survey, conducted by Bloomberg Businessweek, to increase awareness about energy usage by various companies and renewable energy. The results can be seen in the video. Most energy professionals agree that utility companies should use more renewable energy sources, and that energy should be distributed more efficiently. Furthermore, companies should reduce their energy usage, and move towards the direction of renewable energy.

ABB is striving for a better, cleaner future by developing innovative technologies that increase energy usage efficiency. ABB have sponsored a survey, which was conducted by Bloomberg Businessweek. The survey illustrates the expressed concern that the majority of energy experts have about renewable energy. Energy officials believe that immediate changes must take place. The video shows the survey results which could lead to effective solutions for energy usage efficiency. ABB believes that by creating a smarter energy system we can protect the environment and aim for a brighter future.

Matthew J. Schiltz Named Group CEO; Powerit Receives $5 Million in Funding from Investors

Media Contact:
Sarah Grolnic-McClurg
Thinkshift Communications/Pounce PR
sarah@pounce-pr.com
510-898-1837

(SEATTLE, March 1, 2011) Powerit Solutions, an international cleantech company that plugs energy-intensive businesses into the smart grid, today announced two actions that will fuel the firm’s continued growth and development. 

Effective March 7, 2011, Matthew J. Schiltz, a seasoned chief executive, will serve as group CEO of Powerit Solutions. He will lead Powerit’s international operations and take a seat on the company’s board. Concurrent with his arrival, the firm has secured an additional $5 million round of investor funding.

“Sometimes the stars really do align,” says Claes Olsson, chairman of the Powerit Solutions board of directors. “This fresh infusion of capital, coupled with Matt’s hiring, will launch a new era. We have ambitious plans under way on several fronts, and now we have bolstered our resources and leadership expertise, better preparing us to enter into new partnerships and channels and move even more deeply into the industrial and commercial energy management sectors.”

Matthew “Matt” Schiltz to Serve as Group CEO

Schiltz has served as president and CEO or COO for five highly successful technology companies since 1989. His track record in building high-growth technology companies encompasses all aspects of leading, building, growing, funding, and managing. His leadership helped each of his past five companies earn a spot on the Inc. 500 and/or Fast 50 lists due to their explosive growth. At Powerit Solutions, Schiltz will take the company’s proven technology and traction to scale.

Says Schiltz about his new position, “I’m excited to be leading Powerit Solutions—a dynamic, growing cleantech firm that is well out of the gate. Powerit’s proven energy management technology is producing terrific results for customers and the company has clear momentum. Armed with a leading solution in the growing smart grid sector, Powerit is very well positioned and we see great potential for accelerating growth even further.”

Most recently, Schiltz was president and CEO of DocuSign. Recruited by the board in 2007, he transformed the start-up into a market leader in electronic signatures. He closed three rounds of financing that totaled over $25 million, ran strategic business development relationships with leading corporations like Microsoft and Salesforce.com, and grew shareholder value by more than 900 percent.

New Round of Financing Brings Fresh Capital

Powerit Solutions has also just completed a new round of financing with a $5 million investment from five funds. Black Coral Capital, a fund focused on the cleantech sector, led the round as a new investor; the other four were existing investors from prior rounds.

The investment will finance Powerit’s plans to scale these initiatives:

•Extend the company’s reach in key vertical manufacturing sectors with its Spara energy management technology.
•Develop partnerships with OEMs and energy services firms that want to use Spara technology to connect their customers to the smart grid.
•Add channel partners in North America and internationally.
 

“Powerit Solutions’ Spara technology is a valuable tool for smart grid connectivity, as we see in their work with Auto-DR, for example,” says Rob Day of Black Coral Capital. “Unlike a lot of smart grid companies that just have good ideas, Powerit’s ideas have become products that are already producing real benefits from the smart grid—customers are reducing their electricity bills and increasing operational efficiency.”

“Powerit is an established leader in energy management, with active installations operating around the world,” Day continues. “And we think Spara’s flexible technology will integrate well with partner services and products. That will help build Powerit’s value.”

About Black Coral Capital
Black Coral Capital is a fund investing in the alternative energy/cleantech space. It invests in a wide variety of cleantech arenas, both directly and through funds. Black Coral was formed in late 2008 and is building its presence in North America, with offices in New York, Boston, and Montreal. For more information, visit the Black Coral Capital website.

About Powerit Solutions
Powerit Solutions is a Seattle-based international cleantech company that plugs energy-intensive businesses into the smart grid. Powerit’s Spara technology enables users to automatically increase energy efficiency, cut peak-rate usage, participate in demand response programs, and respond to dynamic pricing advantageously—without compromising quality, production, or comfort. For more information, visit the Powerit Solutions website.

$100,000 Cleantech Shipping Grant Competition

WWL is one of the cleanest shipping companies and each year, offers a grant to the best new clean-tech innovation.

We are hoping to raise as much awareness of this scheme as possible to attract some really high quality entries – the grant has been upped this year to $100,000 and last year’s winner has seen his idea (a concept to rival SkySails) being trialled on ships at the moment.

With just over a month to go until its 2011 Orcelle Grants application period closes, global shipping and logistics provider Wallenius Wilhelmsen Logistics asked naval architects Per Brinchman and Per Tunell to share their insights into what makes a winning clean-tech idea.

This year, WWL has expanded the eligibility criteria for the Orcelle Grants to include alternative energy sources and energy-efficient technologies with applications for 1) commercial shipping and 2) terminal operations, reflecting WWL’s research and development into the E/SOrcelle, a zero emissions concept vessel, and the Castor Green Terminal, a zero-emissions terminal and cargo processing centre.

Applications are being welcomed from across the world from individual inventors, entrepreneurs and technology developers and are available at www.2wglobal.com/www/environment/OrcelleGrants. All applications must be submitted by Monday March 21, 2011. Winners will be announced in April 2011.

WWL head of environment, Melanie Moore, speaks to Per Brinchman and Per Tunell:

More about Wallenius Wilhelmsen Logistics

Wallenius Wilhelmsen Logistics (www.2wglobal.com) delivers innovative and sustainable global shipping and logistics solutions for manufacturers of cars, trucks, heavy equipment and specialized cargo. WWL has approximately 3,300 employees worldwide, and deploys around 60 modern eco-adapted vessels. The company has a strong environmental focus and is an industry leader in developing innovative solutions to reduce its operational impacts on the environment.

New 12 MW Solar Installation by EDF in Ontario

Toronto-based EDF Energies Nouvelles Canada (EDF) announced on January 4 that its 12 MW St. Isidore A solar installation successfully joined Ontario’s alternative energy industry when it began operations in late December. St. Isidore is a community of fewer than 1,000 people located in Prescott and Russell County, east of Ottawa, the nation’s capital. The project created jobs for two hundred builders and career solar workers.

Ontario is home to the Ontario Power Authority’s (OPA’s) feed-in tariff (FIT) program and its companion, the microFIT, which deals with projects smaller than 10 kW. The programs create clean air by paying owners of participating solar, wind, and biofuel projects high rates to feed renewable power into the grid. It also creates alternative energy career opportunities for graduates of solar installation training courses and other “green” educational programs in the province. St. Isidore A will participate in Ontario’s Renewable Energy Standard Offer Program – which the OPA has since replaced with the microFIT – as will its companion project, St. Isidore B, which the company expects to complete by the end of 2011. The projects are EDF’s fourth and fifth to take part in the region’s solar industry.

EDF has operated in Canada since 2007. Its parent company, EDF Energies Nouvelles, is headquartered in France and operates in thirteen European countries and “coast to coast in North America.” The companies offer an integrated approach that ranges from project development through to power generation. EDF Energies Nouvelles’ subsidiary, enXco Service Canada (enXco Canada), will operate and maintain St. Isidore A. EnXco Canada is the new Canadian wing of San Diego-based enXco, a solar, wind, and biogas developer with more than two decades of experience in the renewable energy industry.

“Today marks another notable achievement for EDF EN Canada,” says Tristan Grimbert, President and Chief Executive of EDF and EDF Energies Nouvelles’ other North American affiliates. “We are proud to extend the economic and environmental benefits of solar energy to the St. Isidore community and fulfill our ambition to build high-quality solar projects in Canada.” With its ongoing construction of St. Isidore B, EDF will continue to create clean air and alternative energy careers for graduates of Ontario’s photovoltaic courses.

Viridity Software Appoints Arun Oberoi as New President and CEO

For Immediate Release:

With Proven Chief Executive And General Management Experience At Several Of The Industry’s Best-Known And Respected Companies, Oberoi Brings A Track Record For Building Rapid Growth Businesses

Burlington, MA (December 14, 2010) – Viridity Software, the leading provider of data center optimization and energy resource management solutions, today announced the appointment of Arun Oberoi to the position of President and Chief Executive Officer (CEO), effective immediately.

Arun Oberoi has consistently built rapid growth enterprises ranging from start-up businesses to mid-size to multi-billion dollar global organizations, including major brands such as HP OpenView and what is now IBM’s Netcool. Prior to Viridity, Oberoi served as CEO of Aveksa, a market-leading provider of enterprise access governance and management software, where he led the company to revenue growth of over 500%. Previously, he was EVP of Worldwide Sales and Services at Micromuse, an industry-growth leader in high-end network management and service assurance solutions. Micromuse was acquired by IBM for $865M, where Oberoi led the integration, its continued fast growth, and field expansion as Vice President within IBM Tivoli. Prior to Micromuse, Oberoi held various executive roles within HP. He was Vice President and General Manager, HP Worldwide Software Sales and Marketing; this portfolio included HP OpenView where he helped grow the business from early-stages to over $1B. Oberoi was also VP and GM of HP’s Worldwide Top 100 Corporate Accounts and Industries.

“Arun’s background combined with Viridity’s innovation and customer traction provides a great mix for accelerating leadership in this market,” said Jamie Goldstein, Partner North Bridge Venture Partners and member of Viridity’s Board of Directors. “We see a rapidly growing and compelling market opportunity in the data center optimization and energy management space.”

Sunil Dhaliwal, a General Partner with Battery Ventures and a member of Viridity’s Board of Directors stated, “Arun is a demonstrated leader with a history of building high-growth companies. We’re thrilled to have someone of his talent and experience leading our team.”

“I am excited about joining a very talented and fun team whose founding vision for the company solves the escalating problem of mapping the virtual information world to the physical realities of the data center. Attempting to optimize data center infrastructure for IT utilization, power, space, cooling and cost with the dynamically changing service demands is a spiraling problem,” said Oberoi. “This is a huge opportunity to create customer value and we look forward to making Viridity the trusted brand to solve these issues.”

Oberoi holds an MBA from the Kellogg School of Management, Northwestern University, and a BA from Delhi University (India).

Oberoi succeeds former CEO, Bob Steinkrauss, who recently decided to leave citing health reasons.

About Viridity Software
Based in Burlington, MA, Viridity Software is the leader in data center optimization and energy resource management software. Its EnergyCenter™ data center energy monitoring, measurement and management software provides customers with a cross functional solution for understanding the connection between physical infrastructure, IT equipment and applications. Once these connections are fully understood, actionable strategies are provided so that customers can run more efficient, less expensive, highly optimized, eco-friendly, sustainable data centers. For further information, please visit: www.viridity.com, email: info@viridity.com or call: 781-425-2060.

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© 2010 Viridity Software, Inc. Viridity Software and EnergyCenter are trademarks of Viridity Software, Inc. All other brands and products names in this announcement may be trademarks or registered trademarks of their respective holder.

Contact:

Nicole Gorman
Corporate Communications
Viridity Software
508-397-0131
Nicole@viridity.com

Ontario FIT Program Draws Unwarranted Criticism

I have seen, with growing frustration, an increasing number of comments on blogs and news sites deriding Ontario’s feed-in tariff (FIT) program and similar government incentives that encourage the use of renewable energy and create green jobs in the province. Comments like this anonymous post continue to stand out in my mind, “…‘greens’ only want one thing – the “green” in our wallet. And, thanks to the average gullible/stupid environmentally-oriented Ontarian, it is happening at an alarming rate.”

Perhaps more subtly, but with equal acrimony, an opinion piece in the Financial Post uses loaded words to indicate to the reader that there is no value in Ontario’s efforts to protect the environment – “Witness the initiatives of recent years: the messianic closing of cost-effective coal plants and implementing of higher-cost wind and solar energy initiatives in the name of the environment….”

It took me only five minutes to find these two examples, but you can easily find more of the same in the comments section following just about any online news article covering green incentives, financial or otherwise. Some of the authors’ concerns are valid. It is true that electricity prices are on the rise, partially as a result of the high prices the FIT pays to producers of solar, wind, and biofuel energy projects. It is also true that photovoltaic and wind technologies generate fewer kilowatts per dollar than traditional coal, oil, and gas. Yes, change is scary. For that very reason, it took a lot of guts for the Ontario Liberals to commit to such a sweeping, costly, and potentially career-damaging program. But this is the face of progress. Someone has to do the job. Someone has to get his hands dirty, and hard work brings rewards.

Solar, Wind Energy Incentives Create Jobs, Training Programs, and Clean Air.  Even a cursory look at the foreseeable future shows that we are getting off lightly if our only worries regarding energy are increasing prices. Prices would go up, with or without the FIT – financial costs as well as other lifestyle costs. It is not uncommon to see global warming denials used as grounds for criticism, but this is a bit of a red herring.

Global warming is not required in order for Ontario’s progressive efforts to be of value. How many oil spills can the ocean sustain before they destroy our fisheries altogether, either directly or by fatally interrupting the balance of sea life? How many airborne toxins can our bodies, and those of our children and unborn future generations, inhale or soak into our skins before we, ourselves, shut down? How many rivers and estuaries can be polluted by oil sands run-off before our declining water supply becomes undrinkable? All of these eventualities carry far greater costs to us and our pocketbooks than the higher prices that emerge with the FIT.

To me and my family, the above-mentioned issues alone justify radical policies such as the Liberals’ FIT. However, the program carries with it its own financial benefits. In Ontario, where a rapid decline in the auto and other manufacturing sectors has left many without work, the program has created solar energy jobs and photovoltaic training programs. And the FIT’s requirements for Ontario-sourced content have inspired the creation of manufacturing plants and other new business ventures in the province.

Change can be tough, but given Canada’s growing and collective commitment to a greener tomorrow, change is inevitable. In the future, we will laugh (or perhaps cry) at the way we used to fuel our lives. In the meantime, those truly concerned about their rising electricity bills would be wise to invest in solar technology or photovoltaic training, as these are quickly becoming the surest ways of putting some “green” in your wallet.