Recent Posts:

Schneider Electric to Buy Juno Lighting

Kjartan Jansen: June 30, 2005, 10:16 PM
Today, Schneider Electric announced it will buy Juno Lighting for approximately $610M ($410M of cash, $200M of debt). While it is not clear that Juno itself is a Clean Technology company, from the advanced material panel at the Cleantech Venture Forum and Rob’s excellent write up of it (referenced in today’s previous post, but here it is again), we know that lighting represents 20% of total energy consumption in the US. As such, this transaction provides a good comparable for Clean Technology lighting companies. The acquisition price represents roughly a 2.5x sales multiple, which should be considered pretty decent for a Cleantech transaction.

Energy Tech Investor Conference

Kjartan Jansen: June 30, 2005, 10:06 PM

Yesterday and today I had the pleasure of attending Strategic Research Institutes Energy Tech Investor Conference here in San Francisco along with Expansion Capitals' summer intern Graham Evarts (who is co-contributor to this post). The conference was relatively well attended with around 100 participants yesterday and 75 or so today. The breakdown of investors vs. companies / industry groups / labs / others was pretty even, with investors being slightly better represented.

All in all it was a good conference, with very high quality speakers and presenters. The keynotes and panel topics continue to be timely, and below is a summary of key points.

Wednesday 6/29

Bryant Tong of Nth Power...

At an Energy Tech Investor Conference and Senate Passed Energy Bill

Kjartan Jansen: June 29, 2005, 8:47 PM
It’s a very busy week here in San Francisco: I am currently at the second annual Energy Tech Investor Conference. Stay tuned tomorrow for some highlights from the conference. In the meanwhile, you have undoubtedly already seen that the Senate passed a new energy bill yesterday. You also probably know that there is work to be done before the House and Senate can come to agreement in this respect. That said, and while the drivers for Cleantech generally are not regulatory or politically driven, these key provisions, if implemented, should benefit Cleantech VC’s:
  • 10% RPS: new requirements to produce 10 percent of generated electricity from renewable sources by 2020
  • Clean coal: a new 20...

Housekeeping

Kjartan Jansen: June 27, 2005, 3:13 PM

I was traveling at tail end of last week (on my way back from a conference), and missed the opportunity to post anything on Friday or over the weekend. The below is a summary of the last few days (and also some items from last week I didn’t have time to comment on during the conference).

  • GE plans largest desal plant in Africa. As a part of GE’s ecomagination effort, GE Infrastructure, Water & Process Technologies today announced it plans to build Africa’s largest saltwater desalination plant in Algeria. The project is scheduled to begin this month, and last for 24 months, so the majority of the technology is likely already spoken for. This does however underscore the continued...

New Energy Capital Raises $30 Million in Financing

Kjartan Jansen: June 23, 2005, 1:58 PM
Project finance fund New Energy Capital announces $30M funding, $15M from CalSTRS and $15M from Vantage Point. Click here for Live Power News’ write up of the announcement. Adding to Mark McFadden’s article, it’s great to see NEC’s progress. The team is solid, and it also provides the much needed project finance component of the Clean Technology equation.

Who said Clean Technology is gaining traction(?) and another water acquisition

Kjartan Jansen: June 22, 2005, 2:37 PM

Oh, right, everyone. Today, this article in New York Times, as well as an article in the print edition of the current Red Herring (note: link is now here), both point to the increased interest in Clean Technology, and some reasons why it is a compelling area for venture dollars.

In the New York Times article, Ira Ehrenpreis (who is a friend of our firm), partner at Technology Partners (a great Silicon Valley VC) says the reason his firm allocates money to the sector is he believes it is an area that can generate attractive returns.

Other key take-aways from the article include (and are not new to readers of this blog):

  • The sector is underinvested relative to the opportunity
  • Clean...

Energy Innovations raised $16.5M round led by Mohr Davidow Ventures

Kjartan Jansen: June 21, 2005, 11:27 AM
Adding a bullet to this recent blog post on investments in solar companies: