Greentech Media

While the Beltsville, Md.-based company grabs a hefty mix of equity and debt, the World Bank looks to raise $5.5 billion for cleantech funds by autumn, Suntech Power takes a $98.9 million stake in solar wafer maker Shunda Holdings and lithium-ion battery and systems developer International Battery is on the hunt for $100 million by early next year.

NASA built a program for extraterrestrial vegetables way back when. Now PetroAlgae is using the lab to grow obese, oily algae.

The farm bill brings biofuel incentives to the market, in spite of a clerical error and resulting confusion. But the mistake could open the door to the bill being re-negotiated. Meanwhile, the House passes renewable-energy tax credits -- again -- and the San Francisco Bay area puts a tax on carbon.

Watch out, Bugatti. After some delays, Ian Wright says he's bringing the fastest-accelerating sports car to the market in 18 months – and it's electric.

The three-wheeled car company, which plans to come out with a sporty town car in a few years, will start off with hybrids rather than electrics, and may even make a car powered by liquid fuel.

Former CIA director R. James Woolsey joins VantagePoint Ventures, while former Clinton technology adviser -- and DFJ Element partner -- Timothy Newell moves to Merriman Curhan Ford. Will others follow Al Gore's path from government to investment?

Despite moaning and handwringing around biofuels, DuPont jumped into a $140 million joint venture and several startups got cash.

As part of the farm bill, Congress has passed funds and subsidies to support ethanol from nonfood crops – and approved the bill with enough votes to avoid a presidential veto.

Wim Sinke, an executive committee member of the EU PV Platform's scientific working group, called the target of reaching 20 percent renewable energy "ambitious" for the country, and said major policy changes would be needed to meet the goal.

E-Fuel takes orders for a system that allows drivers to fill up on ethanol at home. But will enough customers think it's worth the cost and effort?

The Atlanta company agrees to build a demonstration plant that will turn waste into fuel for the green oasis being constructed in the desert.

Ernst & Young says greentech saw growth in VC investment during 1Q while overall VC investments declined. Meanwhile, cellulosic-ethanol developer Mascoma pulls in $61 million, barley-to-ethanol maker Osage Bio Energy harvests $300 million, Real Goods Solar doesn't have a real good IPO and more.

The company plans to begin construction on its first commercial plant, next to a Southern California landfill, by the third quarter and to deliver cellulosic ethanol from it next year.

The cellulosic-ethanol company received $10 million in equity from Marathon Oil. But will companies like Mascoma suffer from the public backlash against other biofuels?

In an industry that has seen only a few exits, PricewaterhouseCoopers and the National Venture Capital Association predict more IPOs and acquisitions next year. Meanwhile, they say venture investments grew 45 percent in 2007.

The ethanol company blames a long permitting process that delayed a project in Minnesota for more than a year. The story could become more common, as one analyst says public concern about biofuels is making permits harder to get.

Kleiner Perkins and Generation Investment Management close greentech funds, while SunRay, Sunovia, SkyFuel, Mascoma, Range Fuels and ReliOn – among others – score cash.

Only a few months after partnering with cellulosic-ethanol startup Coskata, the automaker teams up with a Coskata competitor, Mascoma, and takes an undisclosed stake in the company.

Among other companies, Xunlight, Infinia, SolarOne and Hydrogen Engine Center closed deals in the last week. And the U.S. Department of Energy committed $243 million to greentech.

The EU is considering whether to investigate a complaint that the U.S. biofuel subsidy is driving European producers out of business. The European Biodiesel Board on Friday asked the union to impose a punitive tariff.