On August 23, the Baker-Polito Administration awarded $455,000 in grants to seven early-stage researchers and companies developing clean energy technologies as part of the Massachusetts Clean Energy Center’s (MassCEC) Catalyst program.
This year is proving to be the year of investing in innovative energy technology. Mercom Capital Group reports that in the first half of 2017, over $1 billion in venture capital and private equity funding has been invested in battery storage, smart grid and energy efficiency companies worldwide, exceeding the first-half funding benchmarks in 2014, 2015, and 2016.
Mercom Capital Group, a global clean energy communications and consulting firm, surveyed the combined venture capital funding (including private equity and corporate venture capital) and mergers & acquisitions across 89 companies in three separate sectors – Battery Storage, Smart Grid, and Energy Efficiency. Total investments in these areas amounted to $1.03 billion across the first half of 2017, a marked 25% jump from $807 million in the first half of 2016.
On June 2nd, the New York State Energy Research and Development Authority (NYSERDA) and the New York Power Authority (NYPA) issued record requests for proposals from qualified developers to build renewable energy projects that will generate 2.5 million megawatt-hours (MWh) of electricity a year. The two requests combined total the largest renewable RFP issued in any state. Alliance for Clean Energy New York estimates that the solicitation “will drive between 600 and 1,600 megawatts of new capacity depending on the mix of technologies ultimately developed.”
On January 7th, the United States Department of Energy (DOE) announced that it was making available up to $125 million in funding for transformational energy projects through the ‘OPEN 2015’ program. The program, which will be run by the DOE’s Advanced Research Projects Agency-Energy (ARPA-E), will support energy research and development projects from top U.S. innovators, including game-changing new transportation and stationary technologies. ARPA-E has previously issued OPEN solicitations in 2009 and 2012.
This is a great opportunity for companies developing new technologies for energy innovation. Transformational technologies means: Think big!
This week, ML Strategies’ Director of Government Relations, Bryan Stockton, provides an update on the clean energy provisions in the Senate’s tax-extenders package and details scenarios for their extension as the midterm elections approach.
Now that summer is drawing to a close, let’s check in on one important bill that lost momentum just as the summer was beginning. Remember the Senate Finance Committee’s tax extenders package (S. 2260), which the committee marked up on a bipartisan basis in mid-May? The one that was poised to pass the Senate but that surprisingly failed to reach cloture after Senate leadership blocked Republican amendments on the bill? At the time, congressional staff and lobbyists—and even Majority Leader Harry Reid (D-NV) —suggested that the extenders package would come up again in the lame duck session after the November election. The House was not expected to vote on an extenders package before then anyway, so the Senate delay would not really impact the timing of final passage of this two-year extension of more than 50 tax provisions.
Mintz Levin is proud to be a part of the Clean Edge 2014 Clean Energy Trends Report. The annual report, now in its 13th year, provides substantive data analysis of happenings in the cleantech marketplace and insights into issues which will be impactful in the near future. Our attorneys were involved in dozens of energy technology transactions last year, and helped our clients with myriad other issues. Through this work we are aware of emerging trends across the industry, and we commend Clean Edge for the depth of their research and the clarity with which they present the results of their extensive efforts. Among the highlights of the report:
With the establishment of a sustainable cap-and-trade program in California as well as the Obama administration’s stance on regulating greenhouse gas emissions, a changed regulatory landscape has emerged, imposing substantially more rigorous reporting requirements on financial institutions that invest in the energy sector either through debt or equity.
Mintz Levin’s Megan Gates and Jeremy Glaser and Enviance Inc.’s Lawrence Goldenhersh and Yann Risz recently published an article in Law 360 describing the GHG-related disclosure and reporting obligations now faced by financial institutions in a new regulatory world. The authors also provide recommendations for cost-effectively conducting the more rigorous risk analysis that is now required. Continue Reading Law360’s “Exxon Opens a New Disclosure Frontier for Energy Finance”
The DOE recently announced a $3.5 million grant focusing on monitoring the environmental impact of marine technologies. Details are below:
In last week’s post, we highlighted a number of available DOE grants for incubators. Today, we will be highlighting grants for research on geothermal systems and building technologies.
The DOE continues to support research being done by companies and think tanks nationwide. Enhanced insight into geothermal systems and solutions is of particular interest this year. The following research and development grants are now open:
The U.S. Department of Energy (DOE) supports a wide range of grants, loan and financing programs and also funds transformational and up-and-coming technologies that create innovative ways to source, distribute, and use energy and other natural resources. The DOE provides a useful guide to public assistance through federal grants and loan guarantees and other programs here. Over the next few days, we will be highlighting a partial list of grant options available at the start of 2014.
Today’s highlights include grants for incubators. The Department of Energy is allocating a portion of money toward incubators fostering advancements in the fields of clean energy and renewables in 2014. The following grants for incubators are now open: