Thursday, September 25, 2008

Global 500 companies use Energy Efficiency and Renewables to combat carbon emissions

The Carbon Disclosure Project, which acts as a secretariat for a collaboration of over 385 institutional investors with over $57 trillion in assets under management, launched its sixth annual report based on the responses from the 500 largest global companies.The report revealed that Global 500 companies are recognizing the role that energy efficiency and renewables can play in lowering carbon emissions.
The sixth annual report provides details on the actions that Global 500 companies are taking to combat climate change. Respondents stated that energy efficiency is proving to be one of the most cost-effective abatement options to meet long term emission reductions. Commenting on their energy reduction strategy, Dow Chemical replied that “over a 12-year period, Dow saved more than $7 billion and conserved more than 1,400 trillion BTUs and mitigated approximately 70 million metric tons of CO2 equivalent greenhouse gases.”
While efficiency measures have been primarily driven by rising commodity prices, some companies stated that they have (or are planning) significant campaigns to look at the energy and carbon content of products.
The average proportion of renewable energy purchased by respondents was 8% of total consumption for carbon-intensive companies and 12% for non-carbon-intensive companies. The Financial Services sector appears to be purchasing the largest amount of renewable energy, with an average of 20% of consumption coming from renewable sources. “From 1 October 2007 all contracted electricity for our properties in the UK and Ireland have come from renewable sources,” responded the Royal Bank of Scotland.
Paul Dickson, CDP’s CEO noted that the “CDP responses demonstrate that an increasing number of companies are quantifying savings from energy management plans or energy efficiency initiatives. The move by leading companies towards greater use of renewables is important in preparing for the transition to the low carbon economy”. The Renewable Energy and Energy Efficiency Partnership (REEEP) is one of several funders for the CDP6 Global 500 Report. “This year’s report shows that more companies are implementing and financially benefitting from carbon abatement strategies that incorporate an element of energy efficiency or renewable energy,” commented Dr. Marianne Osterkorn, REEEP’s International Director.
The report is crucial to the continued transparency and motivation of the world’s largest publicly traded companies to lower carbon emissions.

PowerGenix Closes $30M Round Fueled by Clean Transportation, Energy Storage Demands

Powerful, Nontoxic Nickel-Zinc Batteries Eye Huge Market Opportunity
PowerGenix, manufacturer of nontoxic, high performance rechargeable Nickel-Zinc (NiZn) batteries, today announced the close of its $30 million Series D financing round. The round was led by Bessemer Venture Partners and included existing investors: Advent International, Angeleno Group, Braemar Energy Ventures, Granite Ventures, OnPoint Technologies and Technology Partners.
Amid a global restructuring of energy storage markets, propelled by increased concern over battery safety and toxicity and revived interest in automotive technologies, PowerGenix has seen huge demand for its nontoxic rechargeable NiZn batteries. The company has signed $75 million in customer supply agreements since beginning high-volume manufacturing in March of this year and is supplying NiZn cells into multiple markets including power tool, lawn and garden, consumer AA, military and light electric vehicles (LEV).
Targeting the global clean transportation and energy storage markets with a nontoxic, non-combustible and recyclable battery solution, PowerGenix's NiZn cells pack one-third more power and energy than existing rechargeable alkaline cells. The company's cells have also received compliance, under third-party testing, with the European Union's Reduction of Hazardous Materials (RoHS) and Battery Directive requirements, widely recognized as the world standard for banning toxic material in new electronic devices. In the United States, the Rechargeable Battery Recycling Corporation (RBRC), which represents 90 percent of the global battery industry, recently expanded its recycling program for the first time in seven years to include PowerGenix's NiZn -- the most recyclable rechargeable chemistry on the market.

GridPoint acquires V2Green and raises additional 120 M$

GridPoint Inc., a leading clean tech company whose smart grid platform benefits electric utilities, consumers and the environment, announced today at GridWeek that it has acquired V2Green, a Seattle company that provides plug-in electric vehicle grid integration technology – including on-board vehicle communication devices – to enable utilities to “smart charge” electric vehicles anywhere within a service territory. This is the first step in GridPoint's acquisition strategy, which has been fueled by a recent $120 million equity financing, also announced today.
“V2Green is a leading innovator in plug-in electric vehicle management and has been instrumental in defining standards for interfacing electric vehicles with the power grid,” said Peter L. Corsell, President and CEO, GridPoint. “V2Green's best-in-breed software for electric vehicle management enhances our software platform and its corresponding benefits to utilities.”

Revealed: European 100 hottest Cleantech companies

The Guardian Library House 2008 Cleantech 100 represents the hottest 100 private cleantech companies in Europe, selected by rigorously assessing companies using Library House proprietary data filters, and an expert advisory panel. By considering growth potential and environmental impact potential, the Guardian Library House 2008 Cleantech 100 will form a collection of 100 companies among those most likely to change the world.