Green Tech

In a sign of optimism about the stock market's reception to clean energy start-ups, California solar company Solyndra on Friday filed documents to go public.

The Fremont, Calif.-based company said it plans to raise $300 million in a public stock offering to expand into a market it projects to grow at 34 percent annually.

Four-year-old Solyndra makes a very specialized solar module designed for flat commercial rooftops. The system, which looks like long rows of black tubes, uses flexible thin-film solar cells shaped as a half cylinder to generate electricity from sunlight. The shape increases the amount of captured light while providing cooling from the air.

Solyndra's rooftop solar arrays are made up of hundreds of tube-shaped solar cells.

(Credit: Solyndra)

The company received a $535 million loan from the Department of Energy's loan guarantee program earlier this year, which it used to open a manufacturing facility in California. That loan, authorized in the 2007 Energy Act, was the first that the incoming DOE had given after a four-year backlog of applications.

Solyndra said it intends to use the proceeds from a public stock offering to finance the expansion of its second fabrication unit. It has also applied for a second loan guarantee for $469 million from the DOE in September, it said.

Billions of venture capital money has been put into green technology companies, but there have been few successful stock market offerings that have rewarded early investors and fueled further growth.

Earlier this year, Watertown, Mass.-based battery company A123 Systems went public and its stock has largely maintained its initial rise. That successful offering was seen as a sign that investors are interested in the potential for energy technology companies despite the economic downturn.

In its S-1 documents, Solyndra indicated that it had revenue of over $174 million and a net loss of nearly $120 million for the nine months of 2009. In the past several weeks, Solyndra announced distribution agreements with companies outside the U.S.

As the year ends and the world's attention is fixed on climate negotiators in Copenhagen, the discussion about green technologies is as much about the economy as it is the planet.

In my annual Year in Review column, I point out that national governments are active participants in nascent emerging energy technologies, whether it be modernizing the grid or creating a manufacturing base for electric vehicles. Governments around the world this year pumped stimulus money into promoting domestic clean energy, not only to lower emissions but to position their countries' economies for the future.

Green technology professionals have always been out to develop profitable businesses. But now, it seems, they are increasingly pressing their case for clean-energy policies because of the importance of green tech in national economic competitiveness.

This is playing out at the Cop15 climate negotiations this week as well, where one of the key issues revolves around the transfer of low-carbon technologies to developing countries.

In one example, a delegation of smart-grid companies from the U.S. on Friday demonstrated a home energy management system to several members of Congress.

Smart grid technologies can help address environmental problems by using energy more efficiently. But the primary message that the smart-grid delegation had for members of Congress is that the U.S. needs to press faster to promote clean energy technologies, said Chris King, chief regulatory office at Silicon Valley smart-grid start-up eMeter, who was in the delegation. Europe and Asian countries have more aggressive roll-out schedules for smart meters and have made regulatory changes to promote energy efficiency, he said.

"We are ahead now but policy needs to keep pace with technology companies," King said. "We can benefit from it in the U.S. and contribute to the strength of the economy by exporting to other markets."

Two solar project developers this week raised funds to install commercial and utility scale projects from a somewhat unlikely source: venture capital firms.

On Friday, Tioga Energy said it has raised $20 million to build out its business of providing project financing for commercial and municipal solar installations, such as schools and businesses. Investors included solar wafer manufacturer MEMC and venture capital companies NGEN Partners, Nth Power, and Draper Fisher Jurvetson.

SunBorne Energy Holdings on Wednesday disclosed that it has secured $5.2 million in funding from venture-capital company General Catalyst. It plans to develop utility-scale solar projects in India, including a planned solar thermal project in the state of Gujarat.

Although they are addressing different customers, both companies are in the business of renewable energy project development, where they build, own, and then maintain solar installations.That model is typically used for non-residential solar because third-party financing makes investment far more attractive to prospective customers such as businesses and utilities.

(Credit: Applied Materials)

Tioga Energy provides power purchase agreements in which the customer doesn't have to pay the upfront cost of the solar panels. Instead, it purchases the electricity generated by the panels from Tioga, which finances the installation and manages ongoing operation.

Financing renewable energy projects is typically done by banks or companies specialized in project financing, but that source of money has dried up in the economic downturn. Venture capitalists, meanwhile, have typically stayed clear of project finance because they seek bigger financial returns by investing in technology or business model innovations.

But General Catalyst is starting to look at project development companies as part of its mix of investments, said investor Bilal Zuberi in his blog. "Strong execution, plus control over a scarce resource, allows a developer to not just create value from projects on the ground but also from future pipeline of projects," he said.

The series B round for Tioga Energy will serve to finance construction and development of new projects. NGEN Partner Steve Parry in a statement said it invested in Tioga's series B round with MEMC to accelerate the adoption of green technology and renewable energy.

GE's artist rendering of Santa's sleigh

(Credit: GE)

Author Gregory Mone is not the only one touting would-be Santa technology this year.

General Electric has released its own theory of how the legendary Santa Claus could make his yearly trip while communicating with Mrs. Claus and the elves back at HQ. This version, however, showcases real-world technology with a green bent under development at GE labs. While the Santa hook is child's play, the technology presented has useful applications in the adult world.

For example, the company is developing "icephobic" coatings that prevent ice and water from sticking to a vehicle even when driving through snow. It also has a ceramic matrix composite (CMC) material intended for use in the gas turbine engines used in aircraft. The material is lightweight and heat-resistant to high temperatures, but is not brittle like most ceramic materials. It's closer to metal in terms of durability, according to GE.

The paper-thin, bendable OLED lights for Santa's sleigh could be incorporated in all manner of gear like camping tents, wallpaper, or firefighters' uniforms.

Trip Optimizer calculates optimum speeds for a locomotive engine to save fuel depending on the route and makeup of the train, then self-adjusts the locomotive's throttle accordingly throughout the trip. GE suggests Santa might use the autopilot system for his sleigh, but Canadian Pacific Railway announced in July that it's equipping 200 of its freight locomotives with the system.

Other new technologies highlighted with the sleigh concept include: sodium batteries, a wireless medical sensor, and RFID (radio frequency identification) chips. More details on the technology, along with profiles of the scientists working them, can be found at GE's interactive Web site.

While hybrid and all-electric cars are about five years away from becoming commonplace, 2010 will be a crucial year in determining how an electric car is designed, built, fueled, and used, according to a paper released Thursday by Pike Research.

The auto industry is already headed toward official decisions on technology and standards, and still to come is a natural market evolution determining industry leaders.

(Credit: Pike Research)

The most interesting part of the report is how Pike Research analysts see driver habits and electric cars evolving.

Currently, the report said, many automakers, like General Motors with its Chevy Volt, are following a strategy in which the plug-in hybrid electric vehicle (PHEV) being offered "seeks to satisfy the approximate 80 percent of drivers estimated to commute 33 miles per day or less."

Cost will be a key factor in the evolution of the market. The Pike report says it's debatable whether hybrid and all-electric cars will prove cheaper to drive mile for mile, given fluctuating gas prices and the cost of lithium-ion batteries. A survey cited in the report, meanwhile, found that only 17 percent of drivers would pay a premium for a PHEV over a gas-powered car.

Once the market of environmentally conscious drivers is saturated, automakers will have to come up with a plan B, according to Pike Research.

"If a significant consumer audience fails to embrace the initial class of PHEVs because of the cost, it is likely that automotive OEMs may shift to designing vehicles with shorter all-electric range, and smaller, less costly battery packs," said the report.

The group's paper, "Electric Vehicles: 10 Predictions for 2010," was published in conjunction with HybridCars.com, leaving the reader to question some of its more subjective conclusions on hybrids vs. electric cars or efficient gas-powered vehicles.

But the report also includes many interesting statistical predictions for anyone following the evolution of the green transportation industry:

• By 2015 there will be 5.3 million places around the world to plug in and recharge a car.
• Despite a U.S. push to revive its failed auto manufacturing economy with green technology manufacturing, it will actually be Asia that becomes the "dominant supplier and consumer of electric vehicles and batteries." Pike Research attributed this to the Chinese government's initiative to produce 500,000 electric vehicles per year.
• The U.S. electrical grid upgrade will be sufficient to handle the influx of plug-in hybrids and all-electric cars overall, but neighborhoods with a concentrated volume of EVs could overwhelm a local utility.
• Most people will charge their cars at work or home, and use public charging stations sparingly and mostly when traveling.
• The majority of people will charge their cars after work between 4 p.m. and 8 p.m. putting a strain on local utilities, which will then in turn offer incentives for charging after 10 p.m.

The full paper is available for free download from Pike Research.

A prototype of the ZE Saab 9-3.

(Credit: Saab)

Lithium-ion battery manufacturer Boston-Power and Swedish automaker Saab are collaborating on a zero emissions version of the Saab 9-3, both companies announced Wednesday.

The ZE Saab 9-3 (ZE for zero emissions) would be an all electric vehicle with a Boston-Power battery.

Many may wonder why Boston-Power would get involved with the struggling, for-sale Saab. But for the Massachusetts-based battery manufacturer, which has been trying to get into transportation batteries, the partnership makes sense, considering its associations.

In January 2009, Boston-Power received $55 million in series D funding from a group led by Foundation Asset Management, the investment arm of a Swedish foundation. The funding was intended to establish battery manufacturing for transportation applications, which Boston-Power started doing in May 2009.

Previously, the company manufactured laptop batteries. It was most noted for its Sonata, a long-lasting battery found in certain models of Hewlett-Packard laptops.

The deal is part of an 86 million Swedish kronor (about $12 million) grant from the Swedish Energy Agency to promote green transportation and electric vehicles. As part of the grant agreement, the group plans to produce at least 100 ZE Saab 9-3 cars by the end of 2010.

The coalition also involves electric power train designer Electroengine, engineering management company Innovatum, and the Swedish industry organization Power Circle.

Though it could be an an effort to make the financially struggling automaker seem more attractive to possible buyers, the timing of the announcement is curious.

On Monday, Saab's parent company, General Motors, announced a deal to sell Saab branding rights in China to the Beijing Automotive Industry Holding Corporation (BAIC) along with "certain Saab 9-3, current 9-5 and powertrain[sic] technology and tooling," according to a GM statement.

Then on Tuesday, GM said it's close to cutting a deal to sell Saab to the Holland-based sports car maker Spyker.

The first contact many consumers have with LEDs is when stringing lights on the Christmas tree. But improvements in the energy-efficient lighting technology mean that more people will start screwing in LEDs for general lighting next year.

Semiconductor research company iSuppli on Tuesday forecast double-digit sales growth in the next three years for all types of LED lights, which are increasingly used in everything from street lights to flat-screen TVs. Although LEDs are still mostly used for other lighting applications, LEDs have started to penetrate the residential market as a replacement for incandescent or compact fluorescent bulbs, it said.

A recent Sylvania survey shows that three-quarters of Americans have tried different energy-saving light bulb technologies, such as halogen (left), compact fluorescent (center), or light-emitting diode (right).

(Credit: Osram Sylvania)

"While the retail prices for LED light bulbs are still about an order of magnitude higher than those traditional incandescent lamps, customers increasingly are becoming aware of the power savings and long life benefits of solid-state LED lights," according to iSuppli.

LED manufacturers have already released 40-watt replacement bulbs with the traditional Edison shape while some, such as Lemnis Lighting, are marketing a 60-watt replacement that consumes only 6 watts.

Not surprisingly, high upfront costs are a significant barrier to broad adoption. The Lemnis 60-watt replacement costs about $50 and a 40-watt replacement from Osram Sylvania costs about $35.

Still, consumers are considering their options. Osram Sylvania on Wednesday released results from a survey that found 74 percent of consumers changed to a more efficient bulb this year, with 12 percent using LEDs.

The company anticipates that consumers will increasingly consider LEDs for efficient lighting because of the 2007 law to phase out incandescent bulbs in the U.S. by 2012. Nearly two-thirds of people will consider lower-energy options for replacements, although more than half said the price is a "key consideration," according to company representative Stephanie Anderson.

Osram Sylvania plans to introduce a 60-watt replacement in the spring of 2010, which is a more popular lighting choice that could draw more consumers. The cost will be in the same range as its 40-watt replacement, Anderson said.

"There is an appetite for new technologies. Consumers are not mourning the loss of the 100-watt incandescent," she said.

The Department of Energy hosts the Lighting Facts Web site, where it lists manufacturers and offers a volunteer labeling system with information on light output and efficiency, expressed in lumens per watt.

As of July 2009, First Solar has four manufacturing plants in Malaysia, as well as a North American plant in Perrysburg Township, Ohio.

(Credit: First Solar)

First Solar has produced and shipped 1 gigawatt's worth of photovoltaic solar systems for 2009, the company announced Wednesday.

Hitting the gigawatt mark--the equivalent of 1,000 megawatts or 1 billion watts--is significant as it shows a drastic rise in production and consumer interest. First Solar, which makes cadmium telluride solar cells and panels, produced only about 75 megawatts in 2007, and between 420 megawatts and 460 megawatts in 2008, according to the company's own statistics.

But the leap shouldn't be a surprise: the solar company has been signing massive deals with municipalities over the last year. In March, First Solar announced that it had acquired the rights to complete about 1,300 megawatts worth of utility-scale projects that its rival OptiSolar was unable to finish. Then in August, First Solar signed a deal with Southern California Edison to supply solar modules for a 250-megawatt solar power installation for Desert Center in Riverside County and a 300-megawatt installation in San Bernardino County.

There is promise of more to come. In September, First Solar announced that it had signed a memorandum of understanding with China to partner on a massive, 2,000-megawatt power plant in Ordos City, Inner Mongolia. While the entire project is not scheduled to be completed until 2019, 1,000 megawatts are to be installed by 2014.

First Solar's increased volume may also be having an effect on its bottom line. The company announced earlier this year that it had broken the "the $1 per watt barrier" for manufacturing costs.

The clever folks at MIT have developed a smart wheel that could give bicycle riders a 21st century boost.

The new Copenhagen wheel

(Credit: Senseable City Lab)

Unveiled Tuesday at the Copenhagen Conference on Climate Change, MIT's new Copenhagen wheel is trying to do its part to help the environment by making bike riding easier and more enjoyable.

The wheel's battery can store energy as you step on the brakes and then return that power back to help you climb a hill or boost your speed. A sensor inside the hub measures your effort when you ride. As you pedal forward, the sensor tells the wheel's electric motor to give you a boost. When you hit the brakes, the motor regenerates, slowing you down and recharging the batteries. The goal behind this design is to encourage people to bike farther distances, relying less on gas-guzzling transportation.

"Over the past few years we have seen a kind of biking renaissance, which started in Copenhagen and has spread from Paris to Barcelona to Montreal," said Carlo Ratti, director of the MIT Senseable City Laboratory and the Copenhagen Wheel project, in a statement. "It's sort of like 'Biking 2.0'--whereby cheap electronics allow us to augment bikes and convert them into a more flexible, on-demand system."

(Credit: Senseable City Lab)

Beyond giving you an energy boost, the wheel has other secrets in its bright red hub. Using sensors and a Bluetooth connection, the wheel can talk to an iPhone mounted on the handlebars. Through an iPhone app, you can check your speed, direction, and distance traveled. The wheel can also monitor traffic conditions and smog and even keep track of your bicycling buddies.

The Copenhagen wheel embeds all the required electronics inside the hub, so no other gadgets need to be added to the bike frame. A special spoking method devised by the team also lets you install the hub on any rim.

Any existing bike can be retrofitted with the wheel. In fact, the MIT team sees it as a plug-and play-device, one that any bike owner should be able to easily install as a back wheel.