Deals and investments

HelioVolt, which plans on producing thin film solar panels made from copper indium gallium and selenide (CIGS), will build a 20-megawatt factory in Austin, Texas, that will start popping out panels in 2008.

The factory will employ about 150 people. The company then hopes to move into mass manufacturing by the first quarter of 2009 as well as expand production capacity.

CIGS solar panels aren't as efficient at converting sunlight into electricity as silicon solar panels, but advocates say that they cost far less to produce. CIGS solar panels can also be placed on glass or polymer sheets. Ideally, … Read more

CNET News.com feature: The IT revolution sparked on the East and West Coasts of the United States and spread from there. But in green tech, the heartland got an early invitation.

Over the last three years, an avalanche of venture capital has flowed into start-ups developing technology to use natural resources more efficiently. Incumbent fuel producers and energy utilities are also investing in alternative fuels and power sources.

Most of the new company creation is rooted in the traditional financial investment centers in Silicon Valley and the Northeast U.S.

But the middle of the country is playing a … Read more

Two companies that deal in diapers have attracted notable funding within the past week, leaving Dan Primack of Private Equity Hub to muse about the rise of a "diaper bubble."

gDiapers, which makes eco-friendly diapers, announced yesterday that it raised an undisclosed sum from 2x Consumer Products Growth Partners and Golden Seeds angel investors. gDiapers' hybrid diapers, perhaps the Prius of the Pampers world, consist of a flushable, compost-ready insert that fits inside decorative cloth panties.

Online marketplace Diapers.com raised $7 million in Series B funding last week, mostly through Bessemer Venture Partners. The Web site sells … Read more

The U.K. Housing Ministry released official details on an expansive $18.6 billion redevelopment project that would be water-neutral and feature carbon-zero buildings.

The Thames Gateway 9 billion-pound ($18.6 billion) project would span 40 miles along the Thames River from London's Canary Wharf to Southend in Essex and Sittingbourne in Kent.

If approved by Parliament, the Thames Gateway could be "Europe's largest regeneration project," according to the proposed plan (PDF) from the U.K. Ministry of Housing and Planning.

But the ministry has also repeatedly said it wants the project to be an example … Read more

Many people aren't totally sure what to make of Google's ambitious announcement on Tuesday that it intends to generate one gigawatt of electricity--the equivalent of a few power plants--from renewable-energy sources.

After all, what is a company that makes its money from search and advertising know about the stodgy world of utilities and power generation?

I would argue that Google's commitment to clean energy is a smart move.

Will it make fabulous riches from its investments? We won't know for a while. But in the meantime, its announcement has done exactly what the Googlers wanted--it focused … Read more

The Massachusetts Institute of Technology is kicking off a competition to award $200,000 to entrepreneurs in the green-energy field.

The MIT Clean Energy Entrepreneurship Prize, announced Wednesday, combines two existing prizes and increases the prize money.

The revamped contest pulls in sponsorship from the U.S. Department of Energy and NStar, an electric and gas utility based in Massachusetts. In addition to receiving cash or services, competitors will also get mentoring from experts as they develop their business plans.

Sponsors hope the competition will accelerate the pace of innovation and energy.

"We want to help these entrepreneurs get … Read more

Members of OPEC announced Tuesday that they will contribute $750 million to a fund to study clean energy and technologies, according to Cleantech.com

The fund will put a particular emphasis on carbon capture and storage.

Saudi Arabia coughed up $300 million for the fund while Kuwait, Qatar, and the United Arab Emirates each pledged $150 million. Abu Dhabi, a member of the United Arab Emirates, already participates in a clean technology venture fund.

In a statement, OPEC (according to Cleantech.com) said it would "stress the importance of cleaner and more efficient petroleum technologies for the protection of … Read more

SolFocus has now raised a total of $63.6 million in series B funding to move into production of its solar power plants.

An extra $11.6 million in funding, announced Tuesday, complements the $52 million in series B funding the company announced in September. Altogether, the company has raised $95 million in venture capital.

SolFocus, which was spun out of Palo Alto Research Center (PARC) is perhaps the most high-profile company to pursue solar concentrators, where mirrors and lenses magnify light in order to squeeze more electricity from very efficient solar cells.

These solar installations--usually ground-mounted machines, are typically … Read more

A serving of green tech news from around the Web.

Kleiner to invest in Indian clean-tech firms. In India, venture capital firm Kleiner Perkins Caufield & Byers expects a majority of its investments to come from solar power and distributed generation (which includes bio-fuels) companies. Livemint.com

Be an Eco Sinner or Saint in the New SimCity. The latest version of the popular video game Sim City lets players play out the climate change experiment, says environment reporter Andrew Revkin. New York Times Dot Earth blog

Carbon Capture Moves Ahead. Blue Source demonstrates a remediation system that could capture carbon … Read more