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| MTA and MDA Announce Completion of 5-State Biomass Assessment |
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Initiated by the Memphis Bioworks® Foundation, companies and organizations across AR, KY, MS, MO and TN participated, and found that embracing a bioeconomy in the Delta region will support more than 25,000 green jobs during the next 10 years and more than 50,000 jobs by 2030.
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Project and Location News |
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Electronic Vehicle Co. Leaves Idaho to Build Plant, Relocate HQ in KY
Global Green Cars plans to build 30,000 electric cars and trucks per year at its new plant near Williamsburg, KY. An incentive package worth more than $15 million from Kentucky's Economic Development Finance Authority and proximity to other automakers were cited as significant factors in the move from Idaho.
In other project news:
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Market Update |
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Carlos Ghosn Gambles on Electric Vehicles
Carlos Ghosn, CEO of both Renault and Nissan, having turned both companies around, is now gambling their future on the viability of electric vehicles. Electric Nissans are expected to be available late next year, and electric Renaults the year after. Under a different cost structure than that employed by Toyota and others, he plans to reduce the cost of Li-ion batteries by leasing them.
In other market news:
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Incentives and Policy News |
Solyndra's $535M Loan Guarantee from DOE Final
Solyndra, a manufacturer of cylindrical PV solar panels, has just received the first loan guarantee from DOE in the amount of $535M, as part of the ARRA. The funding will be part of a funding package for its first manufacturing facility, which is expected to create as many as 3,000 construction jobs and 1,000 permanent jobs.
In other incentives and policy news:
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Technology Update |
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$1B of New Khosla VC Available
Khosla Ventures, Silicon Valley-based venture capital firm, has included external investors for the first time in two funds aimed at alternative energy.
In other technology news:
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Workforce Trends |
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Gov. Creates Iowa Green Jobs Task Force
Iowa Gov. Culver, through Executive Order, created the Iowa Green Jobs Task Force to coordinate efforts in Iowa to create green jobs. "In recent years, thanks to our efforts in biofuels and wind energy, we have created thousands of green-collar jobs for Iowans," said Governor Culver. "However, if we are to expand these industries, we must also have the workforce necessary to fill those positions. That is why I am creating the Green Jobs Task Force, which will help coordinate our state's efforts in creating and filling the green-collar jobs of the future." The fifteen-member Task Force is also charged with coordinating efforts to secure Federal grant funding.
In other workforce news:
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Conference News |
MTA SBS Supports the 4th Annual Cellulosic Biofuels Summit to be Held Nov. 16-19
MTA Strategic Biomass Solutions will be serving as a supporting organization for the 4th Annual Cellulosic Biofuels Summit to be held in Washington DC from November 16-19, 2009. The Summit has established itself as the major gathering place where all the communities in the cellulosic biofuels value chain assemble each year to help advance the development of the nation's cellulosic biofuels industry. In November, leaders from the feedstock, industrial biotech, biofuel technology, plant developer, finance, oil and transportation communities will return to Washington, D.C. to report on their activities, consider the next steps forward and share their perspectives on the progress in reaching the commercial production of cellulosic biofuels. The Summit provides a rich opportunity for offline discussions where everyone has the chance to meet other groups in the value chain and establish ongoing relationships. Themes that will be highlighted in this year's edition include the increasing involvement of the oil industry in cellulosic biofuels development and the progress of plant developers to get an assortment of biorefineries built and operating in order to provide the feedback needed to move to large-scale production. For discounted attendance fees, please contact Sumesh Arora, Director of Strategic Biomass Solutions at sarora@mta.ms or 601-960-3659. Visit the events are on the SBS website at www.mta.ms/biomass for information on this and other upcoming conferences. Click here for more information.
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Conference News |
Solar Power International 2009 More than Doubles 2008 Conference Exhibition Space
Solar Power International 2009 is the largest B2B solar trade event in North America, and will take place in Anaheim, CA on Oct. 27-29, 2009. The conference exhibition space of more than 200,000 sq. ft. is sold out, with 900+ exhibitors from every part of the solar value chain. The conference, put on by the Solar Electric Power Association (SEPA) and the Solar Energy Industries Association (SEIA), will more than double the 2008 conference exhibition space of 88,000 sq. ft. Click here for more information.
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Company Profile: A123Systems, Inc. |
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Sign of Recovery for IPOs in General
A123Systems, headquartered in Watertown, MA, is a manufacturer of lithium-ion batteries, using a process based on their patented Nanophosphate (TM) technology. The company was formed in 2001 and currently has a workforce of approximately 1,100 employees located in Massachussetts, Michigan, and Asia. The company went public with an IPO on September 24, and the market responded enthusiastically. Even after underwriters raised the intial price from $8 to $13.50, demand was so strong that they also increased the number of shares offered by 50%, making the deal worth $380M. The share price at the end of the first day of trading was $20.29, up more than 50%. This offering was one of a handful of deals in late September to which the market responded enthusiastically, marking the end of a period of low demand for IPOs that followed the financial crisis last year.
The company recently announced plans to build a lithium-ion battery manufacturing plant in MI and has also received $69M in capital from GE and other investors, as reported last May.
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