Latest Updates: funding RSS

• Crystalline Solar Cells Get $9.5 Million
  Srikant Rajan 12:20:47 pm on August 5, 2008 | 0 | # |
  Tags: concentrated solar power, crystalline solar cell, funding, solar cells, thin film solar, wakonda

  Yet another solar startup has plans to unveil the “ god" “ of solar cells.Wakonda Technologies has secured $9.5 million to pursue the development of solar power.Wakonda plans to advance crystalline solar technology to produce cells that offer  30 % energy conversion efficiency(yes that is three and zero kind!)Essentially ,  Wakonda plans to use the crystals used in high end satellites , strip them down and put them back together using inexpensive materials.Thus maintaining the performance level and cutting down the costs significantly.Wakonda an NREL award recipient , describes this technology as “ virtual single crystal (that) uses a proprietary surface treatment that allows a low cost, commercial metal foil to simulate an expensive single crystal wafer “

  Most of the money in the market is being directed towards thin film solar cells that are inexpensive , but low on efficiency.Another technology is the concentrated solar power technology which has slowly been gaining momentum.However Wakonda’s approach aims at a sizable improvement in efficiency ( not just a couple of points ) and may just result in a breakthrough.

   

• US Introduces New Plan for Biofuel Commercialization
  Srikant Rajan 02:45:22 pm on June 6, 2008 | 0 | # |
  Tags: advanced biofuel, biofuel, funding, tax credit, US

  US congress has approved a new bill providing a sum of $75 million to hasten commercialization of biofuels.This new legislation provides for a maximum of 30 % of construction cost of  biorefineries producing "advanced" biofuels.In addition loan guarantees of  $250 million for construction of such biorefineries has also been introduced .This bill also authorizes  $150 million/year in discretionary funding .A  new tax credit of $1.01/gallon for biofuel produced from wood ,grass and non-edible plant parts has been introduced.Interestingly,this tax credit is applicable for biofuel produced and consumed in US.

  Increasing criticism form the international community,raging debates on "food or fuel"has given biofuels an ugly face.This bill has puts a great deal of emphasis on promotion of "advanced" biofuels or biofuels produced from sources other than corn kernel and also aims to promote production of cellulosic biofuels.Thus it may provide the necessary "facelift" to biofuels which may lead to favorable public opinion.

   

• Cleantech Companies Attract Increased Investment
  Srikant Rajan 01:16:41 pm on May 8, 2008 | 0 | # |
  Tags: cleantech, funding, venture capitalists

  Venture capitalists seem to be aggressively pursuing clean tech companies.Despite a recession in the US economy investments in the clean tech industry reached nearly $570 million in the first quarter of 2008 as compared to $480 million in the corresponding quarter in 2007 according to Ernst & Young.In addition during the period 2002-2007 cleantech investments increased from 1% to excess of 8% of total US annual venture capitalist investment.Such investments signify a growing acceptance in the public market for cleantech IPO’s and also indicate a  supportive government policy.