Archive for September 13th, 2005

Snippets: Carmanah, Sonic and Cleantech investing data

Tuesday, September 13th, 2005

Victoria, B.C.-based Carmanah Technologies has diverted its production efforts towards handling a surge of orders from the hurricane-ravaged Gulf Coast. The company received orders for 500 of its marine, railway and aviation lights the week following Katrina. The LED units are powered by a combination of solar PV and batteries, meaning they require no electrical wiring and operate for five years or longer with no maintenance. Carmanah told the Vancouver Sun that it has sent all its inventory to the region, which will also be given priority as new units are produced. About 300 of the lighting units will be used by the U.S. Coast Guard, with the rest distributed to affected areas of Louisiana, Mississippi and Alabama.

Meanwhile, Sonic Environmental Solutions Inc. of Vancouver is raising $2.2 million in a private placement. The proceeds will go towards advancing the development of Sonic’s PCB-decontamination technology, which uses sonic energy to literally shake contaminated soil or fluids and accelerate chemical processes that break down PCBs. Click here and here for past posts.

Also today, Cleantech Venture Network released its latest data on cleantech investing. In the second quarter of 2005 investments in cleantech grew to $369 million (U.S.), up 9 per cent from the first quarter. In the first half of 2005, investments have jumped 21 per cent to $705 million compared to last year. The venture network is forecasting that more than $1.5 billion will be invested in cleantech deals by year end, a 25 per cent year-over-year increase, due to rising energy prices, after-effects of Hurricane Katrina and cleantech-friendly energy legislation. Indeed, energy-specific cleantech investments in the second quarter amounted to a little more than half of all investments.

“The most active investors in Q2 were RockPort Capital Partners, Mohr Davidow Ventures, and Draper Fisher Jurvetson, each participating in three cleantech financings. Altira Group, New Enterprise Associates, Odyssey Venture Partners, OnPoint Technologies, SAM-Sustainable Asset Management, and Venture Capital Fund of New England participated in two deals each,” according to Cleantech Venture Network.

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Sierra Club selectively supports hybrid vehicles

Tuesday, September 13th, 2005

Apparently advances in hybrid-electric vehicles, and the increasing number of hybrid cars coming to market, has environmental group the Sierra Club making a mends with the auto industry. Ford’s new Mercury Mariner hybrid and Honda’s 2006 Honda Civic Hybrid debuted at Sierra Club’s national environment convention. In fact, the group plans joint promotions with Ford to increase awareness of its Mariner and Escape Hybrid. Wired.com reports that Sierra Club invited Ford, Honda and Toyota to the convention because it wants to make hybrid vehicles more successful.

I’m all for this strategy, as long as it’s not a wholesale acceptance of hybrids and doesn’t reward companies that are merely throwing around the hybrid designation to ride the coat tails of others. Fact is, some hybrids are terrific. Others are just PR campaigns. While it’s great that the industry is coming out in full force with SUV hybrids, the bigger problem is the continued widespread promotion of SUVs — period. Some so-called hybrids are a joke.

Case in point: Porsche announced today it’s going to build a hybrid version of its Cayenne SUV. “The hybrid Cayenne will cut fuel consumption by approximately 15 per cent while retaining its legendary Porsche driving dynamics. To be launched by the end of the decade, the vehicle’s environmentally friendly drive system is being developed together with Volkswagon Group.”

Launched by the end of the decade? Fuel consumption reduced by 15 per cent? Again — is this a joke? Considering the Ford Mariner is claiming a 50 per cent increase in fuel economy for city driving, and is out today, why does it take Porsche until the end of the decade to make such modest improvements?

Kudos to Sierra Club for rewarding those making some serious progress and punishing those that aren’t taking the issue so seriously. The group reportedly did not invite makers of hybrid SUVs that aren’t achieving substantial fuel efficiency, and it remains opposed to manufacturers who are simply using hybrid technology to give slightly better fuel economy to muscle cars and monster trucks/SUVs.

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