23 March '10
2:43 PM UTC
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  Funding

VC Update

  • Calera, a developer of technology that turns CO2 into building materials, has received a $15 million private equity investment from coal producer Peabody Energy. The proprietary technology developed by Los Gatos, Calif.-based Calera converts CO2 released from power facilities, cement plants or refineries into carbon negative building materials. The Calera process also acts as a freshening system able to produce fresh water. The company recently completed a demonstration project near Moss Landing, Calif., which turns the emissions from a natural gas-fired power plant into synthetic limestone.
  • HopeWell Junction, NY. SpectraWatt, which manufacturers photovoltaic cells for the solar industry, has raised $41.4 million in convertible debt to expand its manufacturing capacity. Investors included Goldman Sachs’ energy subsidiary Cogentrix Energy, Intel Capital and PCG Clean Energy & Technology Fund, the cleantech-focused investment fund of PCG Asset Management. SpectraWatt expects to ship it first batch of PV cells to customers during the second quarter of 2010.

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22 March '10
8:33 AM UTC
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Investments in Renewable Energy Could Reach $500 Bil By 2020, Investors Predict

The Bloomberg New Energy Finance Summit closed on a bullish note last week with attendees predicting that global investments in renewable energy could peak to $500 billion by 2020.

That’s more than double New Energy Finance’s own prediction which estimates that annual global expenditure on renewable energy projects will increase from $90 billion in 2009 to $150 billion in 2020 and $200 billion by 2030. Read More »

19 March '10
8:18 AM UTC
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Exclusive: Emerald Technology Ventures Nears First Close on €150M Cleantech Fund

Emerald Technology Ventures, a Zurich-based cleantech venture capital fund, expects to hold a first close for a €150 million ($204 million) cleantech-focused fund, by early summer, an industry source tells G.E.R. Read More »

18 March '10
1:10 PM UTC
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  Funding

VC Update: UpWind Solutions Raises $28.8 million; Solar Junction Closes $13.33 million Series C

Medford, Ore.,-based  UpWind Solutions has raised $28.8 million in a Series B financing led by Kleiner Perkins Caufield & Byers.  MissionPoint Capital Partners also participated in the financing as a returning investor.   Read More »

18 March '10
9:12 AM UTC
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  Funding
  Wind

Pattern Energy Group Acquires 283 MW Texas Wind Farm From Babcock & Brown

San Francisco-based Pattern Energy Group has acquired the 283-megawatt Gulf Wind project in Texas from Babcock & Brown.

Babcock & Brown and Pattern Energy did not disclose the financial terms of the deal. What’s known is that debt-financing supporting the acquisition was arranged by Mizuho Corporate Bank, Banco Espirito Santo, Bayerische Landesbank, Commerzbank, HSH Nordbank and ING Capital. Read More »

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