- Greentech VC numbers are in for 2007. Global figures jumped 43 percent from 2006 to $3 billion. The U.S. made up $2.5 billion of that, bouncing nearly 80 percent from 2006. Deal volume in the U.S. was up 54 percent, accounting for 8 percent of all U.S. VC money. Once again, the Bay State's booming salted cod and pilgrim shoe innovation market took a distant second to California, raking in $273 million compared to $1.3 billion for the Galactic Confederacy.
- The end of an E.on. Literally. The German power giant has agreed to split up following pressure from the European Commission's competition regulators. E.on will sell its transmission and distribution network, and may spin off 20 percent of its generation capacity or "swap assets with a foreign competitor." The break up, which was done to avoid a possible €7 billion antitrust fine, was met with mixed signals across Europe - EDF and RWE will continue to fight unbundling plans from Brussels while Britain's National Grid is believed to be an interested buyer of E.on's networks.
Wulf Bernotat wants to swap some assets - Xcel Energy has announced plans to fix its wind problem. The western utility will be the first to incorporate grid storage-grade sodium sulphate batteries into a wind farm. Xcel has contracted with Japan's NGK Insulators for a 1 MW test battery, capable of discharging power over seven hours with no gaps at an 11 MW wind farm. The companies will receive a $1 million grant from Minnesota's Renewable Development Fund for the project. I usually store my farts in a bottle.
- Fed Chief Ben Bernanke told the Senate Banking Committee on Thursday he favors a reduction of the Brazilian ethanol tariff. As part of his plan to boost consumer spending, Bernanke argued allowing Brazilian sugarcane ethanol into the U.S. would reduce price pressures on corn and soybeans, stemming the precipitous increase in food prices. But it will probably never happen because, really, the last thing U.S. farmers need is competition.
- And finally today... Treehugger is like your cousin that everyone hates because he kills squirrels with sticks, but that everyone secretly laughs at because he kills squirrels with sticks. This is kind of like that.
Greentech Media's Green Light blog covers the full-scope of the greentech world, while expanding the range of our daily news reporting with brief and insightful blog posts from our Greentech Media editors, GTM Research analysts and numerous guest bloggers.
