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ICF Consulting Recommends Rebuilding U.S. Gulf Coast to Energy-Efficient Standards

ICF Consulting released an issue paper titled, Rebuilding After Katrina: Smart Energy Choices, analyzing energy efficiency rebuild options for the reconstruction of hundreds of thousands of homes in the U.S. Gulf Coast region destroyed by Hurricane Katrina. In the analysis, the company modeled different levels of energy efficiency using DOE-2 software, for 60,000 separate runs for a wide variety of single family homes in two climate zones. They then compared the impacts of a mass reconstruction built to minimum building codes (as a baseline for comparison) versus four increasingly more energy-efficient standards. The ICF Consulting analysis demonstrates the importance of including energy efficiency criteria in any rebuild specifications. Two scenarios in particular showed promise. First, a “quick payback” scenario illustrates that a US$200 million incremental investment in energy efficiency in 310,000 destroyed homes will pay for itself in just over two years. In an even more attractive, long-term investment scenario, rebuilding those homes to the 2006 ENERGY STAR scenario will have a payback of just 7.5 years and will save nearly $2.5 billion in the following 20 years if energy prices stay constant. If energy prices rise, the savings will be even higher. With a 30-year mortgage, homeowners immediately receive […]

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Cleantech Venture Investment to Reach $10 Billion by 2009

Cleantech Venture Network LLC released the “Cleantech Capital Report – 2005,” the first comprehensive examination and projection of cleantech venture investments and capital requirements. The report examines North American cleantech venture capital investment over a 10 year period covering more than $7.3 billion of cleantech venture investments from 1999 through mid 2005 and projecting cleantech investment to the end of 2009. The report forecasts that capital dedicated to cleantech could total $10 billion from 2005 through 2009. “The report captures three distinct phases in the evolution of the cleantech investment category, starting with the recent Internet-related ‘bubble and burst’ period, the present ‘learning and diversification’ phase and the next phase, which may have already begun, called ‘growth and returns’ in which capital requirements may outstrip supply. This will have significant implications for both investors and entrepreneurs as it appears that “cleantech” is emerging as a defined investment theme at twice the pace of “biotech’s” rise in the 1980s and early 90s” said Nicholas Parker, co-founder and chairman of the Cleantech Venture Network LLC. “With the combination of rising energy costs, overall natural resource scarcity, growing demand for environmentally superior products and greatly improved cleantech alternatives, it is possible cleantech will […]

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Millennium Cell Reports Third Quarter Results

Millennium Cell Inc. (NASDAQ: MCEL), a leading developer of hydrogen battery technology reported a net loss for the quarter ended September 30, 2005 of $3.4 million, or $0.08 per share, as compared to $2.3 million, or $0.06 per share in the same period of 2004. The increase in net loss is attributable to non-cash interest expense incurred to convert a substantial portion of its convertible instruments during the third quarter. In addition, professional fees increased over the same quarter in the prior year. The results were within expectations for the third quarter. The company said it made several improvements to its balance sheet during the quarter. Firstly, nearly half of the $10 million of Series C Preferred Stock, issued in April 2005, were converted into common stock. Secondly, the remaining $1.0 million of unsecured debentures were converted into common stock. Lastly, Ballard Power Systems sold $2.4 million of its secured debentures to a group of accredited institutional investors. Millennium Cell and the new holders of the debentures are currently working to modify the terms of the secured debentures with the goal of releasing the restricted cash for use in operations. “Actions taken by Millennium Cell and by major stockholders this […]

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