$400M Global Pollution Remediation Fund Launches

A $400 million fund is forming to clean up toxic pollution in the developing world. The Global Pollution Remediation Fund is being launched by an international consortium of environmental ministers, researchers and NGOs. “As citizens of the richer countries of the world, we have a responsibility to act,” said Margrit von Braun of the University of Idaho. “We have already solved these problems in our own countries – we have an obligation to transfer our knowledge and resources.” The Fund will be directed toward cleaning up over 400 highly polluted locations worldwide that affect more than 100 million people – people who suffer from reduced life expectancies, increased cancer risks and severe neurological damage. Donors will now be approached to raise the necessary monies. The group concurred that the international community must act immediately to deal with legacy industrial, military, and mining pollution in the poorer countries of the world. They also agreed to the basic protocols for the Fund’s inception and management. “Legacy” refers to residual pollution from activities that are no longer taking place, such as defunct industrial or mining operations. The clean-up work will be cost effective: a recent Blacksmith Institute study reviewed by researchers from Johns […]

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Moser Baer India to Raise $100M for PV Unit

Moser Baer India Ltd, which makes optical storage media, is raising $100 million for its solar PV subsidiary. The PV group will use the funds to increase capacity to 500MW by 2010, making it a global leader in PV manufacturing. It plans to list on an undisclosed international exchange. The company has set a minimum threshold valuation for the PV at US$1 billion. The company will locate in one of India’s first special economic zones for renewable energy in Greater Noida. It will manufacture crystalline silicon, concentrator and thin film technologies. A consortium led by IDFC Private Equity, GIC Special Investments, CDC Group PLC and Infrastructure Development Finance Company will make the investment.

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GEM Biofuels Debuts on AIM

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EPA, DOE Release Fuel Economy Lists for 2008 Vehicles

The U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE) have released the 2008 Fuel Economy Guide to help people make well-informed choices when purchasing new vehicles. Hybrid vehicles continue to lead the government’s fuel economy ratings – the Toyota Prius tops the list at 48 mpg city and 45 mpg highway. Fuel economy estimates, which appear on the window stickers of all new cars and light trucks prior to sale, are determined by tests that manufacturers and EPA conduct according to EPA specifications. This year’s label values are based on new test methods EPA finalized in December 2006. The new methods are designed to better account for actual driving conditions that can lower fuel economy, such as higher speed driving, use of air conditioning and cold weather operation. Because of the new methods, fuel economy estimates for all vehicles will generally be lower than those of last year. To view the 2008 Fuel economy guide and for tips on increasing vehicle efficiency: http://www.fueleconomy.gov The joint DOE-EPA Fuel Economy Web site, http://www.fueleconomy.gov , offers detailed information on vehicle fuel economy, including a complete downloadable version of the Fuel Economy Guide. Comprehensive information about EPA’s Fuel Economy program: […]

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Xcel is First to Use Soy Oil in Transformers

Xcel Energy (NYSE: XEL) announced it will be the first major utility to use soy oil in all new transformers beginning in 2008. All new transformers in communities throughout its 8-state service territory (3.3 million electricity customers) will use 100% soy oil. It will be used in all new single-phase pole- and pad-mounted transformers for residential and some light commercial applications. Xcel Energy currently uses petroleum-based mineral oil, which is the industry standard. The company says the transition to domestic soy oil will support the economy and increase the nation’s energy independence. The technology has already been used in residential and smaller-scale commercial applications, including hospitals. Currently, more than 50,000 Envirotemp FR3 fluid-filled transformers are in service across the country.

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