by Christopher Renna
| July 31st 2014
In the 1950s and 1960s, cars took hold of the United States. Car use and sales, as indicated by registration, boomed from 25.8 million cars in 1945 to 52.1 million cars in 1955 and finally 75.3 million cars in 1965. Indeed, Americans bought cars to drive towards the post-war American dream, roaming free of bounds, each person having his or her own car. Gas prices certainly didn’t hold anyone back…
But if the 20th century car brought freewheeling independence, the car of the 21st century is diametrically opposed: connected to the Internet (connected car and infotainment), to other cars (V2V) and to the environment (V2E); shared transportation, tethering individuals with mobile technology that allow for car sharing, ride sharing and the like.
Indeed, innovation is running wild in the transportation sector and investors are duly taking note. CTG’s i3 data shows the value and importance companies are according to transportation-related innovation. Equity investments over the first half of 2014 total $2.8 billion across 72 deals, with the Uber deal accounting for $1.2 billion of that. This is almost triple the investment made in the second half of last year, or roughly equivalent to the total investment made …
by Elizabeth Horvitz
| July 30th 2014
While we’re not exactly living in the times of Marty McFly or George Jetson, our world is quickly becoming smarter and more interconnected, thanks to the rapidly growing Internet of Things sector. Internet of Things, or IoT, is a concept in which everyday objects—from home appliances to vehicles– are connected to the Internet and can be controlled remotely. Similar to how we put our computers in “sleep” mode today, we will soon be able to put entire households or even cities in a resting or connected mode, which has enormous environmental implications like reduced energy use and increased efficiency. Some IoT devices have already shown energy cost savings of over $170 per year. Beyond environmental impacts, IOT could be a game changer on how we live and work in a modernized world.
Streetline, a US-based company that has already received over $59 million in capital, provides smart parking solutions through wireless sensors located in parking spots in order to reduce congestion and emissions used while looking for parking spots. The company’s experts explain that 30% of urban traffic is caused by people looking for parking, and one study even showed that 730 tons of carbon dioxide were …
by Amanda Faulkner
| July 30th 2014
In this edition of ‘Where are they now?’ we tackle alums of our annual Global Cleantech 100 list. It will be just as much fun as the child stars edition, without the horrible haircuts. Where are the companies that have been featured on past GCT100 lists? Who has made it big with a successful exit? Who had a fire sale acquisition or bankruptcy? Who might be on this year’s list? For a full list of the 2010-2013 lists, check out past reports.
Who has exited since being on the 2013 GCT100 list? Three companies, Marrone Bio Innovation and Opower each had an IPO, with Marrone’s happening after it was picked for the list but before the list went public. NovaLED, Nest, and NanoH2O were each acquired, by Samsung, Google, and LG Chem, respectively. Past GCT100 honorees exiting this year include Hara, which was acquired by Verisae, as well as PowerSense, which was acquired by Landis+Gyr. McPhy Energy also debuted on Euronext Paris.
Unfortunately, some companies from the 2013 GCT100 list did not have such a great year. Azzurro Semiconductors, a GCT100 2013 company, declared bankruptcy in April …
by David Medoff
| July 23rd 2014
Last year, the global Energy Efficiency sector completed more deals than any of its peer industries, according to Cleantech Group’s i3 platform. The past quarter saw sustained momentum within the sector, so much so that Energy Efficiency led all other industries in total accrued investments, receiving over $520 million, or 18% of all Q1 cleantech fundraising. By all accounts, efficiency software and hardware providers are doing well.
That said, can we really call this news? For the past decade, Energy Efficiency has consistently been at the vanguard of cleantech fundraising, second only to Solar. Moreover, the former has been far more consistent in its fundraising ability than Solar, an industry known for its highs and lows.
So while healthy numbers may be old news for the sector, sub-sector capital allocation is always changing. Energy Efficiency covers a wide swathe of subsectors, from Smart Glass to Efficient HVAC to Cleanweb and so on. Thus, the most recent data enjoin us to ask where, specifically, are the most recent windfalls landing?
View designs and manufactures intelligent glasses that electronically tint in response to sunlight, and in doing so, mitigates reliance on HVAC systems; the company claims energy reductions in …
by Alois Kirner
| July 21st 2014
Against the backdrop of a boom in unconventional fuels, an increasing number of start-ups are developing solutions to both decrease operational risk and reduce the environmental footprint of the Oil and Gas industry.
In the 2012 and 2013 editions of the Global Cleantech 100 report, which sheds light on the world’s top cleantech startups, we took note of the emergence of “cleantech going inside the Oil and Gas industry.” As we embark into the research for our 2014 report, we expect that this innovation cluster will continue to permeate the list of the world’s 100 most promising cleantech companies. Largely linked to the boom in ‘unconventional fuels’ production, startups are increasingly interested to manage the operational and environmental risks of hydraulic fracturing or coal-bed methane and oil sands extraction at different stages of production.
Oil and Gas corporations have been similarly eager to partner with startups that could help them streamline their upstream exploration and production (E&P) businesses. In the past three years, ConocoPhilips has invested more than $33 million in 5 startups that help them increase the performance and safety of their drilling operations (Ziebel, drillMap, LUX Assure, Ciris Energy and Blue Spark Energy). LUX Assure (UK), for …
by Leo Zhang
| July 17th 2014
Cleantech Group recently published a sector whitepaper focused on innovation trends in the Biofuels & Biochemicals sector. In this report, we provided a comprehensive overview of the industry’s value chain, ranging from feedstocks to end products. Despite several setbacks throughout the development of this sector, there are still an increasing number of innovations during the past five years – at both industry and company levels – in an effort to push through some of the scale-up challenges since the sector’s initial rise.
Several themes emerged through our analysis of this sector. First of all, building a streamlined supply chain for year-round production is the first bottleneck to overcome. In essence, there is no single silver bullet solution to feedstock and as a result, we are seeing innovative technologies being developed ranging from crop yield improvements to direct production of fermentable sugars. Looking closely at the latest investment trends, 2013 showed a significant spike in both sum and number of deals to feedstock companies.
Another key trend in the Biofuels & Biochemicals sector centers on the shift from biofuels to biochemicals, where companies are starting to focus on high-margin products due to their pricing premiums. In addition, such shift has also …
by Thomas Roccanova
| July 16th 2014
In the age of up and coming distributed energy resources, one must put energy storage in the conversation. While Solar PV may be the current breadwinner in many people’s minds, recent developments show the future for energy storage is bright. In October 2013, the California Public Utilities Commission approved a new mandate that requires Pacific Gas & Electric, Southern California Edison and San Diego Gas & Electric to add 1.3 gigawatts of energy storage by 2020. Paired with the recently re-established SGIP incentive, energy storage is poised to become a driving force in California in the coming years.
While it is early to attribute too many specific energy storage projects directly to the newly initiated mandate, energy storage companies such as Stem and Green Charge Networks are among the emerging start-ups that are focusing on reducing demand charges through a customer-side, behind-the-meter approach of distributed energy storage. Stem, Green Charge Networks, and Coda Energy have received notable recent funding within the past year, which has helped them develop zero-money down energy storage finance programs in order to incentivize adoption among industrial and commercial customers.
Keeping in tune with the general movement toward automation, Stem and Green Charge Networks…
by Gannon McHenry
| July 10th 2014
Skybox Imaging was acquired by Google last month for $500 million. This purchase ranks as the 10th largest by disclosed deal amount in Google’s history and is a very important acquisition. Skybox, which is based out of Mountain View, CA, has developed a micro-satellite capable of taking highly detailed images of the earth’s surface. They were venture-backed having received a total of $91 million in VC funding from notable firms including Khosla Ventures, Canaan Partners, Northwest Venture Partners and Bessemer Venture Partners. Skybox builds their satellites with off the shelf components, including some traditionally used in the automotive industry. This innovative approach has allowed them to build satellites which are 20x smaller than traditional imaging satellites; at a significantly lower price point. Building smaller satellites not only saves on component cost, it greatly reduces the price to launch an individual satellite (traditional imaging satellites cost upwards of $1 billion to build and launch). The smaller footprint of these satellites will allow Skybox to deploy their initial constellation of units much quicker than traditional satellite imaging companies have been capable of in the past. Skybox deployed their first satellite in November of this past year, and currently …
by Natalie Volpe
| June 26th 2014
This week, a landmark report was released on the devastating and real effects of climate change on business as usual within the United States. (Spoiler alert: Things won’t remain business as usual.) Deviating from the tomes released by the Intergovernmental Panel on Climate Change earlier this year that assert medium to high confidence assurances that climate is changing, this report clearly states the economic risk facing U.S. business resulting from climate change.
Armed with dollar figures supported by a substantiated risk analysis, the report, entitled “Risky Business”, delivered a cautionary message rather than a much needed how-to manual for the business community. The real win, however, were the report authors: Former Mayor Bloomberg, Former Secretary of Treasury Hank Paulsen, and Tom Steyer; an unlikely group of climate advocates from opposing political groups that, in and of itself, amplifies the importance of the present issue.
At this point, however, the “cleantech community” (ostensibly, those interested in how a changing climate necessitates new, sustainable innovation) is well-versed in the latest facts and figures, and now is one step ahead: innovation sourcing. But innovation is all around us, and it’s hard. Companies are asking themselves how they can discover the next ride-sharing …
by M Paschich
| June 18th 2014
Earlier this quarter, ABB announced their technology alliance partnership with Solar Impulse. We spoke with Maxine Ghavi—SVP & Head of the Solar Industry Segment Initiative at ABB—about the nature of this corporate partnership and what she sees lying ahead for the team.
Hello Maxine… Can you tell us the genesis story for the ABB + Solar Impulse partnership?
If you look at ABB and Solar Impulse we share a common ideal, and that is to address the growing energy demand with increased efficiency and minimal environmental impact. Both organizations value innovation, value pushing the envelope on the limits of technology. We also share the cultural characteristics of being Swiss-based companies. We both have novel approaches to solving problems in a responsible way, and endeavor to make significant contributions to the areas of renewable energy and storage. All of these together – our shared visions for technology, innovation and sustainable energy – they set a solid foundation for collaboration and to take these common areas of expertise to the next level.
Yes, that’s quite interesting. How do you fit into this story? Can you share a bit on your background, and what you’re doing at ABB? Also, what do you …