Colorado Cleantech Industry Association Blog
Published: 2012-05-16 17:59:34.481
CCIA Announces Cleantech Fellows Institute
-
The Colorado Cleantech Industry Association has announced the creation of the Cleantech Fellows Institute designed to create new and robust leadership for emerging cleantech markets.This 17-week intensive program is the first of its kind in the nation and will focus on transforming C-level executives to lead near-market cleantech companies.Applicants strongly encouraged to apply are former executives from the aerospace, biotechnology and enterprise technology industries who have a desire to transition to the cleantech industry. Those accepted into the program will receive opportunities for networking, accelerated training from cleantech industry experts and exposure to a variety of clean technologies.Candidates should have prior experience in raising capital, managing the growth of an early stage company and must be able to commit to the four-month program.With Colorado being a natural hub for cleantech, it only made sense for the program to kick-off here. Beginning Sept. 17 and running through Jan. 2013, the intensive program will be made up of eight weeks in Colorado at various locations including the Department of Energy’s (DOE) National Renewable Energy Lab (NREL) and seven weeks held “virtually.”Some areas of focus for the curriculum will include: energy storage, advanced transportation technologies, building technologies and energy efficiency.Deadline for applications is July 6, with interviews also scheduled in July.
Brookings Report Raises Eyebrows and More
-
If you haven’t seen the most recent Brookings Institution report Beyond Boom and Bust: Putting Clean Tech on a Path to Subsidy Independence,” you should give it a read. Despite the numerous negative headlines the past week, this report provides a suggested pathway for weaning cleantech off of subsidies to empower the United States' manufacturing and capacity, and that is a good thing.What the report reaffirms is that clean tech is only going to be sustainable if its cost is at parity with traditional energy sources. This means energy deployment policies and subsidies should reward technology improvement and cost declines, and the US energy innovation ecosystem should be strengthened to make clean energy cheap —one thing CCIA has been championing for the past three years.The really good news is that Colorado is ahead of the game. With the creation and funding of the Clean Technology Discovery Evaluation Grant Program, the state is investing in the commercialization of university clean technologies which provides benefits to Colorado job creation, additional revenue to universities from their IP and export ready technologies.
Colorado Governor John Hickenlooper Signs Bill to Allow More Electric and Natural Gas Vehicle Fueling Stations
-
New law will increase the use of domestic energy sources and expand statewide economic opportunities for alternative fuel vehicles
Colorado Governor John Hickenlooper signed HB-1258 into law making it easier for prospective locations, such as grocery stores and shopping malls, to install and sell alternative fuels to electric and natural gas vehicles.HB-1258 will enable retail, fleet and community venues to host locations for electric and compressed-natural gas vehicles to refuel. HB-1258, titled “Concerning Regulation of Public Utilities in Terms of Alternative Fuel Vehicles,” will help build out the alternative fuel vehicle charging and fueling infrastructure in the state by removing regulation from the state Public Utility Commission so natural gas (CNG/LNG) and electricity can be sold to alternative fuel vehicles.“The Colorado Cleantech Industry Association believes signing this bill into law is an important step in jump starting Colorado’s advanced transportation industry and increasing the use of domestic energy sources,” said Christine Shapard, executive director of the Colorado Cleantech Industry Association. “Above all else, it’s giving Coloradans, companies and retailers a choice in where and how they fuel their alternative fuel vehicles.”Senator Cheri Jahn, D-Wheat Ridge and Representative Brian DelGrosso R-Loveland sponsored HB-1258. It was also supported by the Governor’s Energy Office and Xcel Energy and passed through Colorado legislation with bipartisan support."Making alternative fuels accessible to consumers is paramount in our effort to curb harmful emissions. This legislation is meant to pave the way before this emerging industry without burdensome PUC regulation,” said State Senator Cheri Jahn. “When the market allows, our goal is to make sure that everyday citizens can access alternative fuels every day.”In accordance with state statutes, HB-1258 will go into effect as law on August 8, 2012.
Colorado’s Cleantech Market Expansion for 2012 Part 3: Colorado Cleantech Community’s Rising Stars
-
In the final installment of a three-part blog series on the market outlook for 2012, recruiter and entrepreneur Dave Mayer offers an glimpse into the growing Colorado cleantech community.Of course, we would be remiss if we didn’t mention the presence of the National Renewable Energy Laboratory in Golden and the wealth of new ideas and research coming out of the lab and its partner organizations. NREL, and its hundreds of scientists focused on the development of solar, biofuels and wind solutions in Colorado, is a huge boon to the state.
Another truly prominent and successful example of Colorado’s ongoing leadership in the renewable energy space is Tendril, (which happens to be in Access Venture Partner’s investment portfolio). Tendril has raised more than $70 million dollars over the past six years, and is at the forefront of smart grid deployment by enabling consumers to manage energy usage and costs through their proprietary cloud-based platform.According to Sheila O’Neil, Director of Corporate Communications at Tendril, the organization signed their first major international customer in 2011 — Origin Energy, based in Australia., Since then, they have developed several new industry partners including Siemens Energy and Whirlpool Corporation. As a result, the company has doubled in size. Sheila notes that “as the smart grid industry moves from pilots to full scale deployments and as our cloud-based platform continues to become the platform of choice for utilities as well as energy ecosystem partners looking to connect more closely to consumers and transform the way they use energy, we see this growth trend continuing. We're excited by the prospects for 2012, not just for Tendril, but for the entire Colorado cleantech industry as the state cements its position as a global cleantech industry hub."Another exciting example of how the state continues to produce successful renewable energy businesses is Boulder Wind Power. Based in Boulder, the company has a unique global focus and entered the highly competitive $40 billion dollar wind industry with an eye on changing the paradigm through technology.Their edge in the market is their innovative generator and power conversion system that enables turbine vendors to deliver products that are cost competitive, produce more power, and have higher reliability with lower unscheduled maintenance costs. Tim Connor, BWP’s VP of Business Strategy and CFO helped close a $35 million dollar Series B funding initiative recently.According to Tim, “Boulder Wind Power’s technology is powerful because of its ability to reduce wind power costs to truly compete with fossil fuels.”Tim acknowledges that, like many other renewable energy technologies, the correct incentives and portfolio standards need to be in place, but he’s certain that 2012 is going to be a great year for Boulder Wind Power and for Colorado’s cleantech industry.The examples we’ve highlighted cover a fraction of the exciting clean energy developments going on in Colorado. There are myriad organizations focused on improving technology transfer, incubating and fostering the growth of companies with great ideas and funding those organizations with the most promise.These organizations are only successful as a result of the time, energy and commitment of the visionaries behind them.Every quarter in 2012, we will examine the growth and pitfalls that the cleantech sector in Colorado is facing. We’ll talk about hiring trends, growth trajectories and what’s really happening out there.Colorado’s Cleantech industry has a bright future. We hope you’ll join the growing Colorado Cleantech movement and take an active role in making it even brighter.Dave Mayer is a Colorado Cleantech Industry Association member and serial entrepreneur based in Denver. He is one of three co-chairs of the Colorado Clean Economy Network, which focuses on creating awareness of issues that will affect the future of this country's energy policy. Currently, Mayer is CEO and founder of Technical Integrity, a cleantech recruiting firm. For more information, visit his website at http://technicalintegrity.com/
Investments, Taxpayers and Cleantech
-
Taxpayers doubting the prudence of investing in new clean technologies are one of the major roadblocks in the widespread adoption of cleantech. Recently, President Obama has come forward to reiterate his support of the US becoming a major player in the global cleantech market.During a recent visit to Buckley Airforce Base the President said he intended to “double down on a clean-energy industry that’s never been more promising.” Conversely, a recent article by the National Legal and Policy Center explored the option that private investors, not taxpayers will be the major players in funding clean technology and bringing it to market.The Op/Ed looked at recent studies that show a continuing increase in interest and investment by private capitalists. Furthermore, the piece looks to the number of “casualties” that will come of the next few years in the solar and wind arenas.To many, the real solution lies in a balance between allowing private investments to take their place in the cleantech world and some sort of government intervention that allows for the continued growth and prosperity of the cleantech industry. Be it tax credits, subsidies or grants, the volume of promising cleantech companies will likely need some additional support outside of private investors.At CCIA we’re curious as to what you think. Will it take a robust government intervention to get cleantech where it needs to be or will private investors and venture capitalists realize the promise of clean technology?We invite you to leave your opinions in our comments below.
Colorado State Legislature Approves Bill to Allow More Electric and Natural Gas Vehicle Fueling Stations
-
Here at CCIA we're proud to have been a part of encouraging the success of HB 1258, as we believe it will be a great step forward in further establishing Colorado as the country's hotspot for cleantech market advancements.
You can read all about HB 1258 below, and how it will affect the Colorado cleantech community.Bipartisan legislation will serve to increase the use of domestic energy sources and cut unnecessary red tapeThe Colorado State Senate, yesterday, approved a bill aimed at making it easier to set up refueling and recharging stations for natural gas and electric vehicles. The new law will make it easier for retail, fleet and community venues to provide spots for electric and compressed-natural gas vehicles to fuel up.“The Colorado Cleantech Industry Association believes this legislation will serve the interests of the State of Colorado by increasing the use of domestic energy sources, and helping to provide Coloradans with energy choices for their transportation needs,” said CCIA Executive Director Christine Shapard. “Most importantly, it fosters economic development by taking away unnecessary red tape and uncertainty when a retail business installs an electric vehicle charging station or natural gas fueling pump.”House Bill 1258 was designed to encourage market development of electric and natural gas vehicles and the associated charging and fueling infrastructure in Colorado. HB 1258, titled “Concerning Regulation of Public Utilities in Terms of Alternative Fuel Vehicles,” will allow electric vehicle charging and fueling infrastructure in Colorado by allowing electric vehicle charging stations, natural gas (CNG/LNG) and propane to be sold for alternative fuel vehicles without being regulated by the state Public Utility Commission. This bill places these alternative fuels on par with gasoline and diesel in a competitive marketplace.The bill was sponsored by Senator Cheri Jahn, D-Wheat Ridge and Representative Brian DelGrosso R-Loveland. It was supported by the Governor’s Energy Office and Xcel Energy.“CCIA appreciates the bipartisan support from the Colorado General Assembly to pass House Bill 1258 that sets the stage to allow expansion of electric and natural gas charging and fueling infrastructure in the state,” said Shapard. “Bringing down regulatory barriers for business development in the cleantech space meets Governor Hickenlooper’s mission of making it easier to do business in Colorado, and it puts the state on the radar of the vehicle manufacturing industry which is also important.”
Upcoming CCIA Partner Events
-
Castrol 20/20 innoVenturesCCIA is proud to facilitate meetings between Colorado cleantech companies and the London based Castrol 20/20 innoVentures team.Get your application submitted right away—Monday, April 23 at 5 p.m. is the cut off to be a part of the program.Led by Roy Williamson, the Castrol 20/20 innoVentures team is interested in growing their brand and looking to the future by meeting with commercial-ready cleantech technology companies that are interested in aligning themselves with a strategic global investor.The goal is to get Colorado cleantech companies an opportunity to pitch their technology to a company that has the capital to truly help get their technology to market, and be associated with a global brand as well known as Castrol.CREED: Finance AcceleratorAnother session of the Creed Finance Accelerator is back to facilitate networking and help guide up and coming entrepreneurs and start-ups in pitching business plans in an effort to secure capital.Paul Washington of the Denver Office of Economic Development will deliver the keynote presentation. Additionally, participants will have the opportunity to see presentations by two cleantech start-ups in the advanced transportation space.Don’t miss this great opportunity to network and hear from local cleantech leaders. Registertoday!When: Tuesday, April 24th from 4:30-7 p.m.Where: Fairfield and Woods
Wells Fargo Center, Suite 2400
1700 Lincoln Street
Denver, CO 80203Fee: $10.00
Deloitte Report Sheds New Light on Utilities and Renewable Energy Investments
-
A recent report published by Deloitte has illuminated much of the speculative data on Utilities, the Recovery Act funding of renewable energy and widespread institution of renewable energy sources into the bigger picture of energy production and consumption in the United States.
The report highlighted several major points for consideration in utilities undertaking investments in renewable energy.For one, utilities are facing what some refer to as “hand to hand combat” with regulators when it comes to direct investments into renewable energy sources. These clashes lead to indirect approaches to partnering with cleantech investments.Another point for consideration is that of mandates. In today’s market, they are very real and a driving force in the creative process for utilities and how they operate. Likewise, utilities must have evidence supporting economic gain if they are to commit to an investment as large as renewable energy, despite if a mandate is at play or not.Last but not least, utilities have customers who rely on them for stable, reliable energy; in turn they must only use technologies that can provide that level of reliability. That closes the door to new technologies that have not been tested on a large scale for mass consumption.While this latest report shows that utilities are willing to move toward using clean technology and renewable energy sources, a lot is still to be done in supporting their efforts and in educating the general public of the benefits of supporting both the utilities’ efforts and that of clean technology innovators.
CREED: Entrepreneur Class for Social Media Coming April 12th
-
A large amount of daily search traffic and online engagement happens on social media sites. On the surface these social media sites can seem, well, scary, or a waste of time. Rest assured, neither is the case.Two experts from MetzgerAssociates, Marie Rotter and Doyle Albee, will be leading a class on how you can leverage social media in all its forms to benefit your growing business.The two will cover:· Best practices for operating your social media on a daily, monthly and yearly basis· Ideas on how to build an audience· Best tool to use to manage your accounts and platforms· Ways to integrate social media into your other communicationsAdditionally, attendees will walk away with a general understanding of social media, the differences between social media and traditional media, resources and tools to monitor your social media efforts, and how to build a successful social media plan.Spots are limited for this class, so registertoday!The Details:Where: CREED Vail Conference Room14062 Denver West ParkwayBuilding 52 (Third Floor)Golden, CO 80401When: April 12, from 2:30 to 6pmPresenters:Marie Rotter and Doyle Albee of Metzger Associates
Global New Energy Summit Comes To Colorado
-
Join us April 9-11 at the Broadmoor Hotel in Colorado Springs for the Global New Energy Summit.Keynote Speakers and presenter will include: Denis Hayes, Tom Daschle, Sen. Michael Bennet, Bob Bennett, Brian Kelly, Dennis McGinn, Gil Forer, Jack McDougle, and Dr. Phil DeStefano.Topics will include a wide range of subjects from the impact of major energy consumers on markets to the emergence of innovation across the broad energy spectrum.Public policy and finance and the impact on global energy will also be explored among many other subjects. In its 4th year the Summit looks to delve into the latest trends in oil, gas, solar, wind, water, biofuel, nuclear, transmission and smart grid innovations.For more information or to register for this event visit globalnewenergysummit.org
Access to Capital for “Emerging Growth Companies”
-
By Greg Pfahl, Audit Partner, Hein & Associates
As an auditor of both public and private companies for almost 15 years, I sometimes look back to realize that I have been practicing through some unprecedented times in the financial markets. The Sarbanes-Oxley Act of 2002 was considered by many to be the death of the “small IPO,” an initial public offering of less than $50 million. The primary reason for this belief was the increased cost of becoming and remaining a public company due to some of the requirements within the Act.On March 8, 2012, the House of Representatives overwhelmingly passed the Jump start Our Business Start ups, or the “JOBS” Act. The JOBS Act contains several bills, one of which will attempt to decrease the burden on smaller companies accessing capital through an IPO. If ultimately enacted into law, following are some of the key provisions of the Act:· A new status of issuer will be created called an“emerging growth company,” defined as an issuer with total annual gross revenue of less than $1 billion for its most recently completed fiscal year. A company will remain an emerging growth company for up to five years unless it hits the $1 billion in revenue mark, or meets the definition of a large accelerated filer (basically greater than $700million of non-affiliated market capitalization).· Emerging growth companies would not need to comply with Section 404(b) of the Sarbanes-Oxley Act, which is the requirement to submit the independent auditor attestation of the company’s internal control over financial reporting. Note that, in general, companies with less than $75 million in non-affiliated market capitalization have not been subject to 404(b) because it was being phased-in with multiple delays until finally the Dodd-Frank Act provided a permanent exemption for these companies.· Reduce the number of years of audited financial statements to be included in the initial registration statement from three years to two years. Again, this is already the requirement of smaller reporting companies.· Will allow emerging growth companies to adopt new accounting standards based on the effective date requirements for private companies as opposed to the public company effective date requirements. The Financial Accounting Standards Board (FASB)often provides for a longer transition period to newly issued standards for private companies than it does for public companies.The Alternative Energy industries are generally incredibly capital intensive and, for early stage companies in these industries, access to capital is a critical issue. Public equity is only one option to access capital, but it has historically been a very common option for providing venture capitalists or other investors with liquidity for prior investments, and to get the companies to the other side of the “valley of death.”On the surface, these provisions appear to be great news to provide more access to the public markets. On their own, however, I do not believe they will make a significant difference. As mentioned earlier, smaller reporting companies, those with less than $75 million in non-affiliated market capitalization, are already exempt from the auditor’s opinion on their internal controls and they are also able to utilize scaled reporting requirements. So the current rules already accommodate the small IPO yet they are still virtually non-existent in today’s markets. In fact, statistics show that the small IPO was already declining in use through the 1990s and into the 2000s.
About the Author
Greg Pfahl, CPA, is an audit partner in the Denver office of Hein & Associates LLP, a full-service public accounting and advisory firm with additional offices in Houston, Dallas and Orange County. He also serves as a local leader for the alternative energy practice area. Pfahl can be reached at gpfahl@heincpa.com or 303.298.9600.
CCIA Welcomes New Deputy Director
-
The Colorado Cleantech Industry Association (CCIA) is thrilled to announce the addition of Christopher Votoupal as Deputy Director of legislative operations. Votoupal will be responsible for amplifying CCIA’s voice in state legislation and advocating for policies that CCIA and CCIA member organizations support. Votoupal will also represent Colorado’s best interest on federal policy issues.Prior to his position with CCIA, Votoupal served as Deputy Press Secretary for Congressman Ed Perlmutter of Colorado’s 7th district. Part of Perlmutter’s team for years, Votoupal served as a communications team member and Economic Recovery Coordinator.Having Votoupal on the CCIA team equates to having a valuable resource with years of direct congressional experience and a familiarity with the small business owners and residents of Colorado.“Chris’ depth of legislative knowledge and experience will be a great asset to CCIA,” says Chris Shapard, Executive Director of CCIA. “So much of economic development —especially in the energy industry — is being driven through legislation that we felt that it was time to expand our voice a the state level.”Despite the slow economic recovery, Colorado’s cleantech investments and venture funding continue to grow. Votoupal’s addition to CCIA will only help to enhance Colorado’s stake in the cleantech economy.
Three NREL Partners Selected for National Competition
-
The US Department of Energy (DOE) ran a competition to name America’s Next Top Energy Innovator. The DOE even went so far as to encourage the public to vote on an energy technology that they thought would impact the most.Three of the 14 competitors had been contributed to by NREL. NREL is dedicated to the further development of technology in renewable energy. Of the three NREL backed competitors, two are based in Colorado.Element One of Boulder has developed a cost effective hydrogen indicating system to visually indicate the status or a change in hydrogen in a given environment. A variety of uses could include protective gear, pain, piping and other equipment. Basically, it’s a coating that changes color to indicate hazardous gas leaks or dangerous levels of hydrogen.Also based in Boulder is CCIA member, US e-Chromic LLC. US e-Chromic LLC creates thin films to retro fit windows to create smart windows that reflect the sunlight instead of absorb and reemit it as heat. These thin films can save commercial building operators in air conditioning costs.The third NREL partner, based in Woburn, Mass. is developing technology that allows for solar or other waste heat sources to be used in liquid desiccant HVAC systems for commercial and industrial buildings. Ultimately, these systems can become net-zero retrofits to existing buildings and operate at costs comparable to traditional HVAC systems.All three technologies were born at NREL and are now being developed by the partner companies.Voting ended Feb. 6th; you can view voting results at http://energy.gov/articles/america-chooses-next-top-energy-innovator
Members Only Event—Sign Up Today!
-
Energy storage is quickly becoming an important issue in the cleantech industry. Join us March 14th to hear from Colorado’s experts in the field of energy storage. From Colorado State University to National Renewable Energy Laboratory, Colorado is a leader in research and solution development for current energy storage market challenges. Find out how solutions are being developed from Versa Power and Boulder Ionics.
Colorado’s Cleantech Market Expansion for 2012 Part 2: Is the Bubble Bursting? Perspectives from Cleantech Investors
-
In the second of a three-part blog series on the Colorado cleantech marketplace outlook for 2012, recruiter and entrepreneur Dave Mayer offers an glimpse into the growing Colorado cleantech community.
To get a clearer vision on what to expect this year, we interviewed a number of well-respected leaders on what 2012 holds for Colorado’s cleantech industry.
Dave Gold, of Access Venture Partners believes the bursting of the proverbial Cleantech Bubble is a good thing. Dave believes that 2012 will be a “back to business kind of year”…with a solid amount of activity in Colorado, and “We agree that perhaps a dose of reality isn’t a bad thing,” Dave said in a recent blog post. Currently, renewable energy only constitutes 8 percent of US power consumption but that number is increasing at an average rate of 7 percent over the past several years…extrapolating from that, renewable energy consumption would likely double less than every 11 years.
He continues, “Colorado will continue to be recognized as a hotspot for cleantech in 2012 and beyond.” Dave has been involved with a number of successful cleantech investments in Colorado, including Tendril Inc., which we cover in the next post.
According to Trent Yang, Director of the Renewable and Sustainable Energy Institute (RASEI) at the University of Colorado, and Managing Director of Clean Range Ventures, there are several solid examples of Colorado’s recent success in cleantech. Trent notes that “In 2011, GE specifically selected Colorado for their largest solar manufacturing facility, Advanced Energy Economy recognized Colorado's leadership in the space by inviting the Colorado Cleantech Industry Association to become one of its founding partners, and the Governor's Energy Office continues to take a balanced and pro-business policy approach that will ensure sustainable growth into the future.”
Yang goes on to note that “University of Colorado's spin-out companies, Sundrop Fuels and OPX Biotechnologies, have received significant follow-on funding and are being recognized as having some of the most innovative solutions in the marketplace.” These are just a few specific examples of how Colorado continues to cement its status as a national leader in cleantech development and innovation.
In the next post, we’ll look at the Colorado cleantech marketplace from the perspective of the research labs and companies that are quickly growing our economy.
Dave Mayer is a Colorado Cleantech Industry Association member and serial entrepreneur based in Denver. Currently, Mayer is CEO and founder of Technical Integrity, a cleantech recruiting firm. For more information, visit his website at http://technicalintegrity.com/
US e-Chromic LLC Bursts Onto The Cleantech Scene
-
Loren Burnett, a serial entrepenuer, is now leading the charge for US e-Chromic LLC based in Boulder, Colo.“We are developing an electrochromic thin film for windows. Basically, our product will allow owners to reduce AC usage by 25- 40%,” says Burnett of his company’s basic mission.Burnett obtained the NRELtechnology license for a refelctive electrochromic thin film that can be retrofitted and applied to existing windows. “Our competitors absorb light and re-emit it as generate heat. Because we reflect we can transform existing windows into highly efficient smart windows,” says Burnett.Reaping the benefits without having to replace the entire window system makes US e-Chromic LLC unique amongst the competition. It leads to a lower price point and less waste because there is not additional cost for window replacement and dislocation.US e-Chromic started operations in May 2010 commencerate with licensing with technology from NREL and the company is still in development phase. Current projections have US e-Chromic ready with product to go to market on a limited basis by later half of 2013.Getting into the cleantech business was not exactly a far leap for Burnett.“As part of my career I have gained expertise in commercializing technologies – basically licensing technologies and turning them into commercial products,” says Burnett. “I looked for several years and found it at NREL.”For Burnett, being a part of the cleantech community has been a good experience.“I’ve been really pleasantly surprised at how cooperative and colegial people and companies are in the cleantech areana,” said Burnett. “In cleantech everyone wants to see each other succeed. It acrues to all of our benefits when someone does well.”US e-Chromic LLC was recently part of the Department of Energy’s America’s Next Top Energy Innovator.
Colorado’s Cleantech Market Expansion for 2012 Part 1: Colorado’s Cleantech Industry is Shining Bright
-
In the first of a three-part blog series on the Colorado cleantech marketplace outlook for 2012, recruiter and entrepreneur Dave Mayer offers an glimpse into the growing Colorado cleantech community.
Almost every day, we get calls from people wondering how to join Colorado’s bustling cleantech sector. We also regularly chat with our cleantech clients about what we are seeing regarding candidate volume and experience level. The talk often includes discussions of overall market health, mergers and acquisitions, and of course, what the future holds in Colorado and beyond. Acting as a barometer of both the high tech and cleantech industries can be incredibly rewarding.By all accounts, the cleantech tech industry is alive and well in Colorado. 2011 was a very solid year for businesses focused on renewable energy in our state, and 2012 promises to be no different. In a recent Planet-Profit Report article, 2011 was an banner year.“Clean technology industry investments remained solid in 2011, receiving $8.99 billion in venture capital. The investments represent an increase of 113 percent from 2010; a record high of venture capital investment.” The story also notes that Colorado is in the top five states receiving funding, taking in 5 percent ($358 million) of overall investments made in the U.S. Colorado continues to attract dozens of cleantech businesses as well as innovate in the legislature and in our world-class research facilities.In the next post, we’ll tap into some of Colorado’s leading investors to get a perspective of Colorado’s cleantech industry.Dave Mayer is a Colorado Cleantech Industry Association member and serial entrepreneur based in Denver. He is one of three co-chairs of the Colorado Clean Economy Network, which focuses on creating awareness of issues that will affect the future of this country's energy policy. Currently, Mayer is CEO and founder of Technical Integrity, a cleantech recruiting firm. For more information, visit his website at http://technicalintegrity.com/
2012 Solar Industry Trends to Watch
-
A recent article on Gigaom.com predicted trends of the solar industry for this year. The predictions include an element of doom and gloom, but also shed light on some emerging markets and the potential they hold.There is no denying that for the most part, 2011 was pretty rough on the solar industry from high profile companies filing for bankruptcy to trade complaints. In 2012 the goal seems to be to reboot and find partners more in line with common goals and that have the capital to sustain an industry effort.Similar to last year, it will be a buyers' market for companies and entities with the buying power to acquire and convert to solar. Ultimately, the impact on the global economy from solar conversions will be a good one.Despite the closure of several companies last year, 2012 will see an increase in those wanting to participate in the solar industry in a variety of capacities. Project developers and private investors will likely play a major role in new enterprises to enter the solar arena.Existing and new solar companies will all need to shift strategies to increase efficiency and monitoring to show tangible results for investors. It’s no secret to companies that products and the company itself must run as efficiently as possible for the highest returns possible.2012 will surely be a year of increasing efficiency for companies that will be successful.Aside from election year politics mudding up the waters for the solar industry, emerging markets in Asia, the Middle East and Africa will be a major factor in the global solar market. Those companies and entities that choose to invest in emerging markets may be taking less of a gamble by doing such in 2012.Creative new uses for solar energy will help feed the grid and give birth to new innovations like solar powered vehicles. Of course, that’s just the prediction for this year. In all reality, it’ll be several years before many of these things are realized.
Clean Tech Increasing its Share in the Global Economy
-
Although the global economy continues to struggle, clean technology investments are on the rise. North America saw a 30 percent increase, while worldwide investment increased by 13 percent, according to a new report published by CleanTech Group LLC.
Sundrop Fuels Takes Off
A Colorado leader in bio-derived fuels was Sundrop Fuels. The Longmont-based company develops synthetic fuel production systems which use highly concentrated solar thermal energy to turn gasify biomass. Sundrop Fuels reported raising $175 million from various venture capital partners in 2011, which accounted for 5 percent of all North American clean tech capital in 2011.
Larger Industry Trends: Solar, Efficiency, Transportation and Bio
While solar energy and energy efficiency saw the largest investments in terms of deals and dollars, transportation and biofuels / biomaterials seem to be moving more out of a research stage and also reported profitable investments.
North American Investments Gaining Traction
North America led the way in investments for 2011 as Europe and Israel dropped 30 percent in their investments for the year. China ranked second after the U.S. for investments and ranked highest in IPOs. The highest IPO for the year was Chinese state-owned hydropower company, Sinohydro. It raised $2.12 billion on the Shanghai Stock Exchange.
Bright Future Ahead
Predictions based on historical information have 2012 as the most financially prosperous and beneficial year for clean tech. Despite the still weak global economy, a shift to investing in clean tech has become clear for those wanting a successful and profitable long-term investment.
CCIA Welcomes New Board Appointments
-
(Left: Chas Eggert) (Right: Steve Hane)
The Colorado Cleantech Industry Association (CCIA) is happy to announce our 2012 board chair and vice chair appointments: Charles R. (Chas) Eggert as chairman, and Steve Hane as vice chairman.
Eggert and Hane, both CCIA founding board members, will fulfill traditional roles on the trade association board and bring unique cleantech and venture capital experience to the positions. For CCIA this will be a great opportunity to further take our organization into a leadership position for cleantech in the country.
Eggert is President and CEO of OPX Biotechnologies, a company that uses proprietary Leading EDGE™ technology to produce bio-derived chemicals and fuels to help industries better compete in the global economy with lower costs and higher returns. Prior to leading OPX Biotechnologies, Eggert was the president of Specialty Polymers Group, a $500 million revenue division of Akzo Nobel. He began his career with Monsanto Company where he progressed through a variety of leadership roles. Eggert also serves as a board director of the Biotechnology Industry Organization (BIO), and is a founding director and past vice chairman of CCIA.
Hane will serve as the Vice Chair for CCIA’s board. Hane is currently president and CEO of Ampulse, a solar energy company that focuses on better efficiencies and performance for crystalline-silicon thin-film solar photovoltaic technology. Hane currently serves on the advisory board of the University of Colorado's Deming Center for Entrepreneurship, and is a founding board member of CCIA.
Both Eggert and Hane bring expansive executive and investment capital management experience to the cleantech industry.
“We’re excited to have such esteemed business executives assuming leadership of our board and bringing such a wealth of industry, fundraising and venture capital knowledge,” said Christine Shapard, Executive Director of CCIA. “The benefits will be great for CCIA as a whole and all our members.”
Can't Miss Events in January
-
CCIA has a big week next week! Below is a list of our sponsored events next week. Stay informed on efficiency, financing your startup and meet with investors.
Energy Connections – Focus on Efficient Buildings
Wednesday, Jan. 25, 7:30 - 9 a.m.
Denver Metro Chamber of Commerce
1445 Market St., Ste 3200
Denver, CO 80202Join us for the first Energy Connections Meeting of 2012. This session will focus on the challenges and opportunities of the green building market.
Guest speakers include:
- Anne Hayes of Westfield
- Tim Heaton of Coolerado
- Steve Bachar of Silver Bullet Water Treatment
and others.
Network, gather with like-minded CEC and CCIA members and share issues, develop partnerships, and make new connections.
This is an invitation-only presentation for CEC and CCIA members.
Register for Energy Connections or learn about how to join CCIA
Financing Your Cleantech Startup
Thursday, Jan. 26, 2:30 - 6:00pm
Colorado Center for Renewable Energy Economic Development (CREED)
14062 Denver West Parkway
Building 52, Suite 300
Golden, CO 80401Get valuable information on how to finance your cleantech startup. Don’t just ask for money — ask for the right money and in the right way. Speaker Tim Reeser of Aravaipa Ventures will discuss the ins and outs of financing models, strategy and the challenges to cleantech startups. Don’t miss this opportunity to gain insight to the business side of your cleantech startup.
Register now for Financing Your Cleantech Startup
REGISTRATION DEADLINE ALERT
Jan. 27 Deadline: CREED Investor Access Breakfast
Event Date: Feb. 16
CREED Headquarters
14062 Denver West Parkway
Building 52, Suite 300
Golden, CO 80401Cost: CCIA Members $35
Non-Members: $50It’s your chance to present your business to investors after a continental breakfast and presentations from our speakers. Applications to present are due by Jan. 27 and presenters will be notified by Feb. 10.
For information about these and all CCIA events, visit our events page.
Becoming Part of the Advanced Energy Economy: A Q&A with CCIA’s Executive Director Chris Shapard
-
Recently, Colorado Cleantech Industry Association announced it was becoming a charter member of the Advanced Energy Economy. Described as “a chamber of commerce for clean energy businesses,” CCIA Executive Director Chris Shapard talks about what the AEE is all about:
Q: What is the Advanced Energy Economy?
A: AEE is focused on the creation and support of regional economic organization focused on advanced energy growth and innovation. The founding members believe that national energy strategy will be defined out of regional development – a bottoms up approach rather than a top-down push. The AEE is enabling a platform for states and regions to share best practices and build technology partnerships, much like we do in Colorado now, but on a national scale. It is our goal, through CCIA’s involvement with AEE, to elevate our regional cleantech successes to help create a national dialogue focused on economics, competitiveness and national security.
Q: Why do we need the AEE?
A: All energy discussions to this point either focus in favor of jobs or the environment. AEE transcends that discussion by focusing on the business and economic impact of all forms of clean technology. With global energy consumption projected to rise more than 50 percent by 2035, future prosperity depends on new ways to meet the world’s energy needs. Advanced energy includes any solution that moves us toward the goal of energy that is affordable, abundant, and secure. Rather than favoring specific technologies, advanced energy is inclusive in nature and to be judged by the benefits it provides in the field and in the marketplace.
The AEE will help us take industry best practices that we know work on a state and regional level to guide national policy creation. It’s a really timely effort for Colorado considering Governor Hickenlooper’s bottom’s up approach to economic development. In addition, AEE provides financial assistance to chapters along with communications, policy, research and data support. These additional resources will allow CCIA to expand its capacity in 2012, and helps to increase our efforts around commercialization support for the universities and roll out an executive education institute.
Q: How is the AEE funded?
A: It is funded by individuals, foundations and corporations. AEE has already reached funding in the eight figures and are on target to hit their funding goals over the next three years.
Q: How is the AEE working on the Federal level?
A: From our perspective, the AEE will give Colorado’s cleantech cluster a more substantial voice in Washington. The platform they are creating enables us to partner with other clusters to play a role in DC when it is appropriate. Furthermore, when AEE formed, they merged with the Clean Economy Network (CEN). CEN had a very active advocacy organization and we are fortunate to have the combined experience of the AEE and CEN teams to provide us with eyes and ears on the ground in DC.
Q: How is AEE working with other cleantech organizations?
A: AEE is working with other cleantech organizations in a variety of ways. Many organizations like ours – those that are already established, recognized clusters in their state or region – are becoming chapters of the AEE. These chapters are then the main conduit of contact between member companies and the national organization. In areas where there is not an established principal organization, AEE is actually helping to establish chapters. In yet other areas, where there may be multiple organizations, AEE is working with those groups to establish a single voice for the region. There are currently nine states within the AEE network, and by March of 2012 we expect the number of active chapters to have doubled.
Smart Grids Are a Feasible Solution But Major Education Initiative Needed
-
A recent study has suggested that some American consumers may be warming to the idea smart grids to manage utility delivery. Smart grid initiatives mostly focus on an attempt to modernize the current utility grids. However, there are several misnomers and inaccuracies in the information that is currently widely available to the general public. The disparate and at time incorrect information has divided consumers into distinct groups with varying degrees of support for smart grid initiatives.
The study found that most people fit into one of five categories: Concerned Greens, Young Americans, Easy Street, DIY & Save, and Traditionalists. Each of the groups represented ideals of mostly socio-economic sects and factors. The research found, for example, that the Concerned Greens were vehemently protective of the environment and completely open to smart grids, while the Traditionalists fell on the opposite side of the spectrum and recognized no reason for energy reform.
Furthermore, the research yielded results exposing the major motivations behind those in a great economic divide. For the Easy Street consumers with higher incomes, they were less motivated to alter their lifestyles or habits. Interestingly, the DIY & Save group also show little motivation for change as their main goal was to provide for their families. In both groups, a lower importance on the environmental impact of their lifestyles was evident.
Finally, and possibly the most influential group, Young Americans, disclosed that they were interested in change and willing to adapt, but needed more education about the environmental payoff and economic benefits of a smart grid initiative before they could rally behind the idea.
Understandably, a significant factor in creating more support for smart grid initiatives and modernizations will include a push for education. Public awareness of the benefits, the realities of the modernization efforts and a frank discussion of the environmental and economic effects will need to drive future rhetoric and efforts.
Thank You to Colorado's Cleantech Community
-
As we head further into the holiday season, we want to take this opportunity to say "Thank You!" to all of our members, partners and colleagues for your support throughout 2011. We, the CCIA team of staff and volunteers, greatly appreciate your support throughout the year. Because of your partnership, we've had a very successful year working on your behalf. Following are a few highlights.
Earlier in the year, with intense lobbying from the CCIA, the Colorado General Assembly passed a $20 million funding stream for the clean technology grant program to provide seed stage funding to Colorado cleantech companies and proof of concept funding for university research projects. Governor John Hickenlooper signed the bill at a Colorado Cleantech Research awards event on May 26.
CCIA’s relationship with NREL became more formalized with the opening of the NREL- and State of Colorado-sponsored Colorado Center for Renewable Energy Economic Development (CREED), a multi-tenant facility catalyzing the growth of Colorado’s cleantech industry. CCIA is one of the anchor tenants at the CREED facility and partnered with NREL during 2011 to offer industry programming including an Entrepreneurial Series and Finance Accelerator Series. These series will continue with the strong NREL-CCIA partnership that’s been created.
In early November, CCIA helped launch the national Advanced Energy Economy (AEE) network in Denver, along with Colorado Governor John Hickenlooper. CCIA is one of the founding chapters of the AEE, an organization dedicated to connecting clean technology companies and clusters around the country, and bringing attention to the energy technology solutions offered by these companies. In addition to the nationally covered launch, CCIA hosted an industry awards gala attended by 500 of the who’s who in Colorado’s cleantech community that was keynoted by Kevin Skillern, head of GE Energy’s Venture Capital unit.
It’s through your support of the CCIA that we have been able to accomplish all that we have this past year. CCIA is industry-led and industry-focused and we look forward to the continued growth of Colorado's cleantech cluster in 2012. We have an incredibly busy schedule ahead - classes, sector events, the annual dinner, the research awards - not to mention a busy legislative session and the addition of the AEE programs. Please keep an eye on our calendar of events - trust us, it will be a busy year! If you would like to get involved with the CCIA, please email us.
GGP Energy Builds Successful Commercial Energy Efficiency Technologies
-
When words like scrappy come up in a conversation, the last thing that may come to mind is the cleantech industry. However, it’s an ideal word to describe Scott Charter, the Co-Founder and Managing Partner of GGP Energy.
To call Charter a self-made man would not only be putting it mildly, but it’d be a bit of an affront. Charter is much more than that term can hope to encompass. He landed in Denver to attend DU law school with little more than sheer drive and a van he resided out of in Denver’s Washington Park.
His background in IT led him to data centers where his keen observations kicked off his cleantech career. “We knew we were spending a lot of money at our commercial data centers,” said Charter of his company’s energy consumption. “We saw that clean tech was a wide-open frontier that we had some experience in because of our data center experience.”
Charter and his business partner, Michael Hollander, struck out to change the way commercial buildings use energy. They found a way to introduce to companies “unique technology to lower energy costs in a commercial building,” says Charter of GGP’s basic mission.
For one, Charter and Hollander have brought the H2OFlow technology to market. This remarkable technology eliminates the need for maintenance chemicals to be used in commercial cooling towers. Not only does the technology make for environmentally friendly water use, but it also significantly reduces the cost of operating and maintaining the cooling tower.
Ultimately, it’s been beneficial that Charter is a scrappy guy. When it comes to making it in the cleantech industry he offers the following advice: “Make sure you’ve got the stomach for it. And I mean that. It’s not always an easy path to ho. We went from a company that was very east to start up because we sold a commodity. Our new company [GGP] we now trying to educate people saying hey, consider doing something differently than you’ve done it since 1920.”
Convincing commercial building owners to open themselves up to the new technology has its challenges. “Its easy to follow the pack. A crowd mentality—you’ll never get fired for buying from a major company. Getting people to change from what they’re used to is difficult,” said Charter.
However Charter and Hollander have come up with creative approaches to entice new customers to try the H2Oflow system. “Installation is for free, we’ll remove it for free. We have to earn their business every month. We’re so confident that our engineer will bring a coffee cup and drink out of the cooling tower,” says Charter of their commitment to the technology.
