CHANGZHOU, CHINA: Trina Solar Ltd, a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, recently announced that one of the company's key solar module glass suppliers, Beijing Hua Mei Dazheng Technology Co. Ltd, has signed an investment agreement to establish a production facility in the Changzhou Trina Photovoltaic Industrial Park.
The agreement was signed with the Changzhou National High Tech District to build a production facility adjacent to Trina Solar's manufacturing campus. Construction of the facility is planned to start in the second half of 2009, with production expected to begin in the first half of 2010.
Beijing Hua Mei is one of the first PV glass companies to be established in China and has supplied Trina Solar since 2007. Trina Solar has entered into a long term agreement to purchase solar module glass produced by the new Changzhou production facility.
"We are excited by the ongoing developments of the Changzhou Trina PV Industrial Park and the opportunity to continue forming a strong partnership with Beijing Hua Mei," said Jifan Gao, Trina Solar's Chairman and CEO.
"Adding this key component supplier to the PV Park will support our goals to realize procurement and logistical advantages to accelerate our near term cost reduction initiatives. We are pleased that this important supplier has chosen to locate adjacent to the Trina Solar campus, and we believe this shows that Changzhou is fast becoming a hub for China's solar PV industry."
Friday, July 3, 2009
Thursday, July 2, 2009
VC investment in green technologies rebounds with $1.2bn in Q2-09
CAMBRIDGE, USA: Greentech Media Inc. released the most recent quarterly data showing that venture capital investment in green technologies totaled $1.2 billion in 85 deals in the second quarter of 2009. This is up from $836 million in 59 deals in the first quarter of 2009!
“The recent quarter’s balanced distribution of sectors that attracted capital underscores cleantech’s breadth and diversity of opportunity, one of the key drivers behind why cleantech remains an enduring area,” said Ira Ehrenpreis, General Partner at cleantech VC, Technology Partners.
Solar power was once again the leading investment segment at more than $330 million. Unlike previous quarters –- the second quarter saw a much more balanced distribution across the various sectors with a marked increase in automotive (more than $202 million) and energy storage (more than $180 million).
One of the drivers for steady second quarter venture investment was the promise of stimulus monies offering startup investors a non-dilutive funding source.
Meanwhile, early-stage and late-stage investments dominated, while mid-stage funding was harder to come by, and the average round sizes were slightly smaller. There were no giant $100 million+ solar or biofuel rounds as in 2008.
“Despite the economic slump, VC investors remain optimistic about the greentech sector and eventual exits in this space,” said Eric Wesoff, senior analyst at GTM Research and author of the Greentech Innovations Report, a monthly guide to investments and technology trends in greentech.
John Rockwell, founder and Managing Director of Element Partners adds: "The growing belief that credit markets and the economy are on the road to recovery has investors back in the market. Greentech markets are massive and diverse and investors are starting to pour additional money into the next wave of greentech opportunities."
“2009 will be a year of consolidation and development while 2010 and 2011 will be the year greentech breaks. Expect to see IPOs and acquisitions of VC funded firms in solar, smart grid, green buildings and biofuels,” Wesoff added.
“The recent quarter’s balanced distribution of sectors that attracted capital underscores cleantech’s breadth and diversity of opportunity, one of the key drivers behind why cleantech remains an enduring area,” said Ira Ehrenpreis, General Partner at cleantech VC, Technology Partners.
Solar power was once again the leading investment segment at more than $330 million. Unlike previous quarters –- the second quarter saw a much more balanced distribution across the various sectors with a marked increase in automotive (more than $202 million) and energy storage (more than $180 million).
One of the drivers for steady second quarter venture investment was the promise of stimulus monies offering startup investors a non-dilutive funding source. Meanwhile, early-stage and late-stage investments dominated, while mid-stage funding was harder to come by, and the average round sizes were slightly smaller. There were no giant $100 million+ solar or biofuel rounds as in 2008.
“Despite the economic slump, VC investors remain optimistic about the greentech sector and eventual exits in this space,” said Eric Wesoff, senior analyst at GTM Research and author of the Greentech Innovations Report, a monthly guide to investments and technology trends in greentech.
John Rockwell, founder and Managing Director of Element Partners adds: "The growing belief that credit markets and the economy are on the road to recovery has investors back in the market. Greentech markets are massive and diverse and investors are starting to pour additional money into the next wave of greentech opportunities."
“2009 will be a year of consolidation and development while 2010 and 2011 will be the year greentech breaks. Expect to see IPOs and acquisitions of VC funded firms in solar, smart grid, green buildings and biofuels,” Wesoff added.
China Nuvo Solar Energy acquires additional PV IP
WEST PALM BEACH, USA: China Nuvo Solar Energy Inc. has acquired from Photovoltaics Inc. a variety of solar technologies/inventions consisting of six provisional or utility patents.
This newly acquired intellectual property relates to enhancements of currently available technologies ranging from increases in output and efficiency to the use of lower cost newly discovered photovoltaic materials and processes.
The Company believes that each of the technologies have the potential, when commercialized, of reducing the cost per kilowatt hour of solar energy thereby making it more competitive with other energy sources. China Nuvo is in the process of finalizing utility patents for those that are currently provisional.
The Company’s plans regarding a business model to fully exploit the value of these newly acquired technologies is presently under development and will be announced when fully developed.
China Nuvo Solar Energy is a nominally capitalized early stage company that owns a unique patent pending solar technology and is working to develop a commercially viable higher efficiency stacked photovoltaic solar cell.
This newly acquired intellectual property relates to enhancements of currently available technologies ranging from increases in output and efficiency to the use of lower cost newly discovered photovoltaic materials and processes.
The Company believes that each of the technologies have the potential, when commercialized, of reducing the cost per kilowatt hour of solar energy thereby making it more competitive with other energy sources. China Nuvo is in the process of finalizing utility patents for those that are currently provisional.
The Company’s plans regarding a business model to fully exploit the value of these newly acquired technologies is presently under development and will be announced when fully developed.
China Nuvo Solar Energy is a nominally capitalized early stage company that owns a unique patent pending solar technology and is working to develop a commercially viable higher efficiency stacked photovoltaic solar cell.
Ellis Energy acquires Pyron Solar
BAKERSFIELD, USA: Ellis Energy Investments Inc. has acquired the assets of Pyron Solar Inc.
Pyron Solar is the manufacturer of the Pyron Solar Triad, the leading CPV Power Generator for utility scale installations. The company uses a patented and powerful solar concentrator that harnesses the sun’s energy with high-energy (HE) conversion and unlimited scalability.
In developing the unique and proprietary HE Optics System, Pyron Solar engineers have overcome some of the most challenging issues affecting the implementation of solar technology on a wide scale; including solar cell heat transfer, wind, shadow and maintenance issues, and, of course, cost considerations.
Ellis Energy Investments adds Pyron Solar to its portfolio of companies that includes Sierra Process Systems, providing oil recovery, oily residuals separation, and recycling services to its refinery and power customers throughout the United States, and Global Mastics, a company that uses a patented process to thermally desorbe refinery mineral fillers to enhance various asphalt products.
Stan Ellis, CEO of Ellis Energy Investments stated: “We are very excited about this acquisition and look to carry forth Pyron’s aggressive growth plans. It is our belief that Pyron Solar’s technological advances will make it the leader in the CPV market.”
Pyron Solar is the manufacturer of the Pyron Solar Triad, the leading CPV Power Generator for utility scale installations. The company uses a patented and powerful solar concentrator that harnesses the sun’s energy with high-energy (HE) conversion and unlimited scalability.
In developing the unique and proprietary HE Optics System, Pyron Solar engineers have overcome some of the most challenging issues affecting the implementation of solar technology on a wide scale; including solar cell heat transfer, wind, shadow and maintenance issues, and, of course, cost considerations.
Ellis Energy Investments adds Pyron Solar to its portfolio of companies that includes Sierra Process Systems, providing oil recovery, oily residuals separation, and recycling services to its refinery and power customers throughout the United States, and Global Mastics, a company that uses a patented process to thermally desorbe refinery mineral fillers to enhance various asphalt products.
Stan Ellis, CEO of Ellis Energy Investments stated: “We are very excited about this acquisition and look to carry forth Pyron’s aggressive growth plans. It is our belief that Pyron Solar’s technological advances will make it the leader in the CPV market.”
SPG Holdings secures funding
NOVATO, USA: SPG Holdings, LLC, announces the closing of a $13 million equity financing through the Global Environment Fund and Robeco.
SPG Holdings, LLC includes SPG Solar, Inc., a leader in design and installation of photovoltaic power systems and Thompson Technologies Industries, Inc., which designs, manufactures and sells innovative and best-of-breed solar photovoltaic (PV) products.
SPG Holdings is utilizing the funds to support growth both nationally and internationally. The funding will continue to allow SPG Holdings to secure the appropriate level of materials and resources to support its development plans for business.
“The solar industry appears to be on the verge of its largest growth cycle,” says Thomas Rooney, chief executive officer of SPG Solar. “We want to capture that growth and expand SPG Holdings along with it. When we look back 10 years from now, we’ll likely see growth that will have eclipsed the advances of the last eight years. With a pro-solar administration in Washington and new markets emerging worldwide, the expansion opportunity for solar energy is favorable.”
“This is a great opportunity for SPG Holdings,” says Dan Thompson, founder and chairman of SPG Solar, Inc. “Both SPG Solar and Thompson Technologies now have the ability to do multiple large scale projects.”
SPG Holdings has seen substantial growth over the last several years. This funding will take the company to the next level in terms of project size and company expansion.
The near term plans include expansion throughout the United States and the infusion of capital provides greater ability to respond to the growing opportunities.
SPG Holdings, LLC includes SPG Solar, Inc., a leader in design and installation of photovoltaic power systems and Thompson Technologies Industries, Inc., which designs, manufactures and sells innovative and best-of-breed solar photovoltaic (PV) products.
SPG Holdings is utilizing the funds to support growth both nationally and internationally. The funding will continue to allow SPG Holdings to secure the appropriate level of materials and resources to support its development plans for business.
“The solar industry appears to be on the verge of its largest growth cycle,” says Thomas Rooney, chief executive officer of SPG Solar. “We want to capture that growth and expand SPG Holdings along with it. When we look back 10 years from now, we’ll likely see growth that will have eclipsed the advances of the last eight years. With a pro-solar administration in Washington and new markets emerging worldwide, the expansion opportunity for solar energy is favorable.”
“This is a great opportunity for SPG Holdings,” says Dan Thompson, founder and chairman of SPG Solar, Inc. “Both SPG Solar and Thompson Technologies now have the ability to do multiple large scale projects.”
SPG Holdings has seen substantial growth over the last several years. This funding will take the company to the next level in terms of project size and company expansion.
The near term plans include expansion throughout the United States and the infusion of capital provides greater ability to respond to the growing opportunities.
Solar Energy Initiatives in green energy alliance with RS&H and K Power
PONTE VEDRA BEACH, USA:Solar Energy Initiatives Inc., executing on a grass roots campaign, “RENEW THE NATION”, to help redeploy a portion of the US workforce and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, announced that the company is a founding member of the Green Energy Alliance, a strategic affiliation with RS&H, one of the nation’s leading facilities and infrastructure consulting/engineering firms, and K Power Inc., a provider of full service solar energy solutions to commercial and industrial users.
The Green Energy Alliance will combine member areas of expertise providing turn-key solar solutions including project financing to commercial and solar park projects located in North America and the Caribbean.
RS&H and K Power are leaders in energy and power generation/construction and as a combined entity possess the ability to build commercial solar projects and solar parks that could extend to well over 100 megawatts.
The newly formed relationship will provide Solar Energy Initiatives with both new business relationships and access to capital through affiliated relationships. The companies’ parallel operational focus and business strategies provide a platform for a long lasting and mutually successful relationship.
“This alliance provides Solar Energy Initiatives with the experienced and capable relationships needed to target larger sized commercial solar projects,” stated, David Fann, Chief Executive Officer, of Solar Energy Initiatives.
“We believe that the Company now possesses all the necessary tools to target more large scale and higher margined projects much like the 18 megawatt solar park that we recently announced. It is important for our strategic business plan that we form strong partnerships with top notch power companies, funding partners and consulting firms so that we can continue the rapid market penetration we are experiencing. We look forward to signing new contracts that mirror and exceed our $80 million solar park in California.”
RS&H, founded in 1941, is a multi-disciplined facilities and infrastructure consulting firm whose client-centered program structure provides value-added solutions to clients around the world.
“We are extremely pleased to be part of the Green Energy Alliance and to be working with SNRY to assist in deploying solar solutions for large scale commercial projects,” stated, Ron Ratliff, Executive Vice President of RS&H.
“With the combined capabilities of the Alliance we expect to capture significant market share for large solar projects. Moving forward we will be targeting all sizes of commercial, industrial, institutional and solar park projects. As a combined group we now have the ability to complete projects in excess of 100 megawatts. In addition, the Alliance will work closely with a variety of governmental agencies to optimize and secure substantial grant money for the education and deployment of alternative energy.”
K Power, a wholly owned subsidiary of the Dana B. Kenyon Construction Co., is a provider of solar thermal and solar electric systems for large scale projects. K Power excels in the design, installation, service and incentive/rebate procurement of solar power.
Matt Kenyon, President of K Power, Inc., commented: “The formation of the Green Energy Alliance will allow all the partners to secure large scale solar projects. With our expertise in the design and installation of solar solutions we have the ability along with RS&H and SNRY to work with states and municipalities to deploy low cost energy solutions.”
The Green Energy Alliance will combine member areas of expertise providing turn-key solar solutions including project financing to commercial and solar park projects located in North America and the Caribbean.
RS&H and K Power are leaders in energy and power generation/construction and as a combined entity possess the ability to build commercial solar projects and solar parks that could extend to well over 100 megawatts.
The newly formed relationship will provide Solar Energy Initiatives with both new business relationships and access to capital through affiliated relationships. The companies’ parallel operational focus and business strategies provide a platform for a long lasting and mutually successful relationship.
“This alliance provides Solar Energy Initiatives with the experienced and capable relationships needed to target larger sized commercial solar projects,” stated, David Fann, Chief Executive Officer, of Solar Energy Initiatives.
“We believe that the Company now possesses all the necessary tools to target more large scale and higher margined projects much like the 18 megawatt solar park that we recently announced. It is important for our strategic business plan that we form strong partnerships with top notch power companies, funding partners and consulting firms so that we can continue the rapid market penetration we are experiencing. We look forward to signing new contracts that mirror and exceed our $80 million solar park in California.”
RS&H, founded in 1941, is a multi-disciplined facilities and infrastructure consulting firm whose client-centered program structure provides value-added solutions to clients around the world.
“We are extremely pleased to be part of the Green Energy Alliance and to be working with SNRY to assist in deploying solar solutions for large scale commercial projects,” stated, Ron Ratliff, Executive Vice President of RS&H.
“With the combined capabilities of the Alliance we expect to capture significant market share for large solar projects. Moving forward we will be targeting all sizes of commercial, industrial, institutional and solar park projects. As a combined group we now have the ability to complete projects in excess of 100 megawatts. In addition, the Alliance will work closely with a variety of governmental agencies to optimize and secure substantial grant money for the education and deployment of alternative energy.”
K Power, a wholly owned subsidiary of the Dana B. Kenyon Construction Co., is a provider of solar thermal and solar electric systems for large scale projects. K Power excels in the design, installation, service and incentive/rebate procurement of solar power.
Matt Kenyon, President of K Power, Inc., commented: “The formation of the Green Energy Alliance will allow all the partners to secure large scale solar projects. With our expertise in the design and installation of solar solutions we have the ability along with RS&H and SNRY to work with states and municipalities to deploy low cost energy solutions.”
Wednesday, July 1, 2009
VioSolar signs MoU to purchase Greek PV solar company
ATHENS, GREECE: VioSolar Inc. has signed an irrevocable memorandum of understanding (MOU) with a privately held Greek corporation to purchase 85 percent of its shares.
The target company has 100 kilowatts of production and licenses to build an additional 1 megawatt, with 200 kilowatts in the construction phase.
“We are very pleased with the result of this acquisition, as it establishes VioSolar as a valid player in the photovoltaic sector in Greece.” stated Rick Walchuk, President and CEO.
“Greece is an excellent market, with its high feed-in-tariffs and government grant policy. We are also pleased that the founder and majority shareholder of the target company will remain as an integral part of the company. His knowledge and experience will be a valuable asset for VioSolar Inc. going forward.”
“Concurrent with this MOU we are in discussions on a number of other projects in Greece and hope to announce further acquisitions in the near future. Our management team and consultants have identified several promising targets and have negotiations ongoing.” stated Walchuk.
Closing of the transaction is expected to take two weeks at which time VioSolar expects to release further details.
The target company has 100 kilowatts of production and licenses to build an additional 1 megawatt, with 200 kilowatts in the construction phase.
“We are very pleased with the result of this acquisition, as it establishes VioSolar as a valid player in the photovoltaic sector in Greece.” stated Rick Walchuk, President and CEO.
“Greece is an excellent market, with its high feed-in-tariffs and government grant policy. We are also pleased that the founder and majority shareholder of the target company will remain as an integral part of the company. His knowledge and experience will be a valuable asset for VioSolar Inc. going forward.”
“Concurrent with this MOU we are in discussions on a number of other projects in Greece and hope to announce further acquisitions in the near future. Our management team and consultants have identified several promising targets and have negotiations ongoing.” stated Walchuk.
Closing of the transaction is expected to take two weeks at which time VioSolar expects to release further details.
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