Super Tuesday is just around the corner this week. As Greentech Media helps readers get a sense of each candidate’s stance on green technology, the U.S. Environmental Protection Agency and other federal bodies are looking at next year’s funding.
On Monday, President Bush released his proposed federal budget for 2008-09. The documents includes $7.14 billion for the EPA.
Key to the agency’s plan is an additional $14 million to help deal with the increase in permitting and environmental-review tasks caused by a surge in proposed energy projects.
And to promote energy efficiency, the EPA suggested $49.2 million go to clean diesel grants. About $15 million of these grants would be earmarked for port projects. The agency forecasts a tripling of container cargo in the next 12 years.
As political and government maneuverings heat up, so is greentech investing. Below is a list of deals that went down during the last week. Also, readers can check out the Greentech Media blog Cleantech Investing for deals that slipped under the radar earlier this month.
- Israeli solar-thermal manufacturer Solel said last week it snagged a whopping $105 million from London-based investment firm Ecofin. The funding will help Solel move forward with such projects as a 553-megawatt plant in the California part of the Mojave Desert (see Solel Blazes with $105M Investment).
- Enphase Energy came out of stealth mode Thursday when the company announced it had raised $6.5 million for its solar-energy systems. The Petaluma, Calif.-based company is developing a micro-inverter, which converts direct current that’s derived from solar to usable alternating current, and Web-based analytic software. Third Point Ventures led the investing.
- EnStorage, an Israeli startup developing a regenerative fuel-cell energy-storage system closed on a $2 million financing round, said the online business news publication Globes on Tuesday. According to the media outlet, backers included Greylock Partners, Canaan Partners and Siemens Venture Capital.
- Driving-feedback company GreenRoad Technologies snagged $14.5 million Thursday from the likes of Virgin Green Fund, Benchmark Capital and Balderton Capital. The funds are expected to support GreenRoadís global operations aimed at improving driver safety by identifying risky drivers and helping to change their behavior behind the wheel via real-time feedback and regular Web reporting. But is this a greentech play? GreenRoad claims clients have reduced fuel consumption and carbon-dioxide emissions by an average of 7 percent.
- Last week, energy-efficient lighting developer Luxim Corporation took back to the office $21 million in an additional Series D funding, according to VentureBeat and Private Equity Hub. In total, the fourth round of funding stacks up to $39 million, bringing Luxim’s total venture-capital backing to around $61 million, the publications reported. Backers of the Sunnyvale, Calif.-based company include DAG Ventures, Sequoia Capital, Crosslink Capital and Worldview Technology Partners.
- Solid-state startup SJS Technology also raised $2.5 million of what will be a $5 million first round of venture capital, according to Private Equity Hub. Backers include lead investor Khosla Ventures.
- Concentrating solar-cell developer QuantaSol Limited will collect £320,000 ($631,740), should it accomplish specified milestones from AIM-traded Low Carbon Accelerator Limited. Once QuantaSol closes on the amount, Low Carbon Accelerator’s equity stake will amount to a quarter of the solar-cell company.
- Stanford Venture Capital Holdings said last week it would invest $10 million in AquAgro Fund, a Tel Aviv-based venture-capital fund focused on water, agriculture and cleantech businesses in Israel ( via Cleantech Investing).
- Despite rumblings that the U.S. Department of Energy was pulling its support of FutureGen, a $1.8 billion clean-coal project, the federal agency said it would dole out as much as $114 million to support biofuels. On Tuesday, the DOE selected four recipients to get the funding and build small-scale biorefinery projects. Companies like Pacific Ethanol are expected to get up to $24.3 million for such efforts. For a complete list of projects click here. The federal agency also said it expects to announce another round of projects later this spring, bringing the DOE’s total investment up to $200 million.
- ReneSola (NYSE: SOL) raised $119.6 million in its New York Stock Exchange debut on Tuesday (see Investors Too Full for a Share of ReneSola?). The Shanghai-based solar-wafer manufacturer offered shares at $13, a 9.7 percent discount from the previous closing price on the London Stock Exchange’s Alternative Investment Market. The price dipped a penny that day, but grew to close at $13.65 per share Monday.