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Renewable Petroleum Company Raises $5M

LS9 Inc., the Renewable Petroleum Company(TM), has raised secured $5 million in Series A funding from Flagship Ventures and Khosla Ventures, two top-tier early-stage investment firms, and has established its Scientific Advisory Board (SAB). The funding and SAB appointments will significantly accelerate LS9’s plans to pursue industrial applications of synthetic biology to produce proprietary biofuels and industrial chemicals. “LS9 is a pioneer in extending the promise of biofuels beyond ethanol and biodiesel,” said Noubar Afeyan, Managing Partner and CEO of Flagship Ventures. “By applying new biological engineering tools towards meeting the growing market needs for alternative energy, the company is already creating significant value with its IP as well as its proprietary new products under development.” “New technologies developed at companies like LS9 will transform the energy world as fundamentally as Internet technologies have changed the telecommunications industry. We’re excited to work with LS9 to bring the next generation of biofuels to market,” stated Vinod Khosla, Managing Partner of Khosla Ventures. About LS9 LS9, Inc., the Renewable Petroleum Company(TM), is a privately-held biotechnology company. LS9 is pursuing industrial applications of synthetic biology to produce biofuels that are compatible with existing fuel distribution and consumer infrastructure. Based on an enabling technology […]

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U.S. Senators Introduce The Fuel Economy Reform Act of 2007

The Fuel Economy Reform Act of 2007, re-introduced yesterday, would reduce U.S. gasoline consumption by nearly half a trillion gallons by 2028. The legislation seeks to break the logjam on establishing greater vehicle fuel economy by establishing a targeted 4% increase each year in Corporate Average Fuel Economy (CAFE) standards — a rate that the National Academy of Sciences has determined is possible. The caveat is that National Highway Traffic Safety Administration (NHTSA) can justify a deviation in that rate by proving that the increase is technologically unachievable, cannot maintain overall fleet safety, or is not cost-effective when comparing with the economic and geopolitical value of a gallon of gasoline saved. Higher CAFE Standards If the 4 percent per year target is met for 10 years, the bill would save 1.3 million barrels of oil per day and 20 billion gallons of gasoline per year. If gasoline is just $2.50 per gallon, consumers will save $50 billion at the pump in 2018 alone. The bill provides flexibility to domestic auto makers by establishing different standards for different types of cars. Currently manufacturers have to meet broad standards over their whole fleet of cars. The bill gives NHTSA the authority to […]

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FPL Energy Rated as Top Wind Plant Owner in 2006

FPL Energy narrowly edged out Spanish utility Iberdrola to become the top global wind power owner in 2006, according to the latest rankings from Emerging Energy Research. FPL Energy closed 2006 ahead of Iberdrola by just 156 MW following major US project activations, but Iberdrola will likely reclaim leadership in 2007 with the acquisition of ScottishPower, which represents 1,400 MW of wind power capacity installed in the UK and the US. “Competition for global wind power leadership remains intense, with North America’s sustained growth providing a major boost to FPL and up-and-coming IPPs to compete with the acquisition strategies of European rivals,” according to EER Research Director Keith Hays. “The rankings reflect a continuation of European utility dominance, though US players’ activations of mega projects and North America’s broader growth prospects will increase competition across the Atlantic in the near future.” Led by firms active in the US and Spain, the top 20 wind power operators added over 5,100 MW in 2006. These activations have come through a roughly even mix of existing pipeline projects on line, and completion of major developer acquisitions. Led by Iberdrola and FPL, utilities continue to dominate the rankings, representing 14 of the top 20 […]

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FPL Energy as Top Wind Plant Owner in 2006

FPL Energy narrowly edged out Spanish utility Iberdrola to become the top global wind power owner in 2006, according to the latest rankings from Emerging Energy Research. FPL Energy closed 2006 ahead of Iberdrola by just 156 MW following major US project activations, but Iberdrola will likely reclaim leadership in 2007 with the acquisition of ScottishPower, which represents 1,400 MW of wind power capacity installed in the UK and the US. “Competition for global wind power leadership remains intense, with North America’s sustained growth providing a major boost to FPL and up-and-coming IPPs to compete with the acquisition strategies of European rivals,” according to EER Research Director Keith Hays. “The rankings reflect a continuation of European utility dominance, though US players’ activations of mega projects and North America’s broader growth prospects will increase competition across the Atlantic in the near future.” Led by firms active in the US and Spain, the top 20 wind power operators added over 5,100 MW in 2006. These activations have come through a roughly even mix of existing pipeline projects on line, and completion of major developer acquisitions. Led by Iberdrola and FPL, utilities continue to dominate the rankings, representing 14 of the top 20 […]

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Taiwan: Delta Introduces Cheaper Production Process for Concentrating PV

Delta Electronics (TSE:2308 announced that it has completed the development of a certified and cost effective assembly process for the manufacturing of concentrating photovoltaic (CPV) modules, a solar cell technology that boasts greater than 35% efficiency. Collaborating with Spectrolab, which developed the underlying technology, Delta aims to enable wide availability of CPV modules by its advanced assembly process. Spectrolab, Inc., a subsidiary of Boeing, is the world leader in the development of highly efficient terrestrial concentrator solar cells. Its leadership position is further cemented with the recent demonstration of converting 40.7 percent of the sun’s energy into electricity. The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in Golden, Colo., verified the milestone. Delta collaborated closely with several leading companies in the field, including Spectrolab, to develop a viable assembly process that solves difficult to address issues such as material suitability, heat dissipation, and hot spot formation. “We believe that the solar cell receiver assembly process developed by Delta will enable Spectrolab to offer its customers the opportunity to obtain a complete receiver design that has been proven reliable, thus enabling our customers to speed up their entry into the CPV market,” said Dr. Raed Sherif, General Manager of […]

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Earthanol Raises $7.1M For Waste-to-Ethanol Plant

Earthanol, Inc., a developer of waste-to-ethanol production plants, has received a $7.1 million investment from @Ventures, the venture capital arm of CMGI, Inc.(Nasdaq: CMGI), Nth Power, Sail Venture Partners, and Calvert Funds. Earthanol plans to use proprietary technologies to convert agricultural and industrial waste products into biofuels. The company is currently developing projects based on dairy industry waste and cellulosic biomass materials. Earthanol’s management team has extensive experience in the development and operation of energy projects, including eight biomass-based power projects in North America. “In order to fully realize the promise of biofuels, it is critical that the industry move beyond corn-based ethanol”, said Matt Horton, a Principal with @Ventures. “By using waste materials as a feedstock for biofuels production, Earthanol avoids many of the costs and limitations associated with corn-based ethanol.” Website: http://www.earthanol.com     

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Akeena Solar Raises $4 Million

Akeena Solar, Inc. (AKNS.OB), a solar systems integrator, has raised $4.1 million in a private investment in public equity (PIPE) offering. The company issued 2,062,304 shares of common stock and (i) three-year warrants to purchase 206,230 shares of common stock with an exercise price of $2.75 per share, and (ii) three-year warrants to purchase 206,230 shares of common stock exercisable at $3.00 per share. The company intends to use the net proceeds from this financing for general corporate purposes including growth initiatives, capital expenditures, research and development, and working capital. Founded in 2001, Akeena is one of the largest national integrators of residential and small commercial solar power systems in the United States. Website: http://www.akeena.net     

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