CleanTech Comes of Age – CleanTech Investments Have Reached Record Levels

The report, entitled “Cleantech Comes of Age,” discusses the trends in clean technology from the impact of oil prices to the M&A market and includes data from the MoneyTree Report, a quarterly survey that tracks cash-for-equity investments by the professional venture capital community in private emerging companies in the United States.The increased venture capital investment into the Cleantech sector can be directly associated with the growing concerns about the environment, energy costs and security. Despite signs of a weakening economy, the high investment level and intensified adoption rate of technologies in this sector validates the expected growth predicted by industry experts.

Department of Energy Announces Grants To Establish 46 Energy Frontier Research Centers

The White House announced that the U.S. Department of Energy Office of Science will invest $777 million in Energy Frontier Research Centers (EFRCs) over the next five years. In a national effort to accelerate scientific advances in critical areas of the new energy economy the United States Department of Energy (DOE) will establish 46 new multi-million dollar Energy Frontier Research Centers (or EFRCs) across the nation.

Department of Energy Announces $800 Million in Funding to Biofuels

US Department of Energy Secretary Chu announced plans to provide nearly $800 million from the American Recovery and Reinvestment Act targeted towards advancing biofuels research and development and for commercial-scale biorefinery demonstration projects. The $786.5 million in Recovery Act funding a mix of new funding opportunities and additional funding for existing projects, will be allocated over four main areas. Integrated pilot- and demonstration-scale biorefineries projects are to receive the bulk of the funding with the remainder going to commercial-scale biorefinery projects, fundamental research in key areas to advance cutting-edge conversion technologies, including generating more desirable catalysts, fuel-producing microbes, and feedstocks and to ethanol research.

BIOFUEL UPDATE: Some Biofuels Worse Than Gas for Global Warming; Danforth Science Center Gets $15M in Stimulus for Biofuels; OriginOil Develops Better Way to Get Oil from Algae; FedEx: to Use 30% Biofuels by 2030

In this first post of the BIOFUEL UPDATE — a newly introduced feature of The Green Economy Post — I write about how so called first generation Biofuels such as Corn Ethanol that are derived from food crops or grown on land that otherwise would be used for food crops may be worse for global warming than burning gasoline is! This reconfirms in my mind the pressing need for the biofuel sector to move towards non-food biofuel crops that also are grown on marginal land; crops such as algae, switchgrass, jatropha etc. In other news the Danforth Science Center in Saint Ls. MO gets $15 million in federal funds. Fedex announces plans to get 30% of its fuel from second generation non-food crop biofuels by 2030. OriginOil has developed a simpler and more efficient way to extract oil from algae.

Cost to Produce Solar Cells Brought Below $1 per Watt

Earlier this month, First Solar, Inc. (Nasdaq: FSLR) announced that it has reduced its manufacturing cost for solar modules in the fourth quarter 2009 to 98 cents per watt, becoming the first solar cell manufacturing company to break the $1 per watt price barrier. This is a major price milestone for the solar photovoltaic manufacturing sector and represents a significant step towards achieving what is known in the industry as as grid parity, the price level where the per watt cost for solar electricity reaches the current averaged cost of electricity on the grid a goal First Solar plans to reach by 2012.