Reducing Greenhouse Gas Emissions in the United States Using Existing Federal Authorities and State Action

This report shows how the U.S. could reduce greenhouse gas emissions 14 percent below 2005 levels by 2020 by aggressively using existing state and federal policies.

A 14 percent reduction falls short of President Barack Obama’s Copenhagen commitment, as well the emissions reduction targets put forth in the most recent climate legislation that was put forth and failed over the last year. It also pales in comparison to the cuts most scientists say is needed to avoid the worst effects of climate change.

“The study highlights both the need to pass climate legislation and the importance of preserving existing authorities,” Jonathan Lash, president of the World Resources Institute, which wrote the report, said in a statement. “The study’s findings make it very clear that current efforts by Congress to curb U.S. EPA authority will undermine U.S. competitiveness in a clean energy world economy, block control of dangerous pollutants, and put the U.S. at odds with its allies.”

The 14 percent reduction would require pushing existing laws and regulations to the fullest extent possible under a set of circumstances the World Resources Institute calls the “go-getter” scenario. The Obama administration and states would have to maintain “steadfast resolve” in order to achieve this upper range of emissions reductions.

The WRI study also evaluated the potential results from three other scenarios: a “lackluster” scenario with efforts in the lower range of what is technically possible; “middle-of-the-road,” based on the medium range of what is technically feasible, with moderate regulatory ambition; and a “business-as-usual” scenario.

SCENARIOS-Fate of Japan climate bill uncertain after election

TOKYO, July 12 (Reuters) – Japan’s climate bill, which backs the creation of an emissions trading scheme, faces an uncertain fate after the ruling Democratic Party and its ally lost their majority in a weekend election for parliament’s upper house.

Prime Minister Naoto Kan’s Democratic Party of Japan (DPJ) stays in power because it controls the more powerful lower house, but will need to seek new partners to control the upper chamber and pass bills smoothly.

The ruling bloc at present does not have a two-thirds majority in the lower house that is needed to override decisions made in the upper house.

Japan is the world’s fifth-biggest greenhouse gas emitter and has pledged to cut greenhouse gas emissions by 25 percent from 1990 levels by 2020.

The target is among the most ambitious of all rich nations but has also sparked nationwide debate over how to attain it without hurting the world’s No.2 economy. [ID:nTOE63I04R]

The climate bill, shelved last month after parliament ran out of time to finish debate, would make the target legally binding and set a one-year deadline for the government to design a compulsory emissions trading system. Other measures to help Japan meet the target are also part of the bill. [ID:nTOE65L09F]

Below are some scenarios for the climate bill, which the government plans to resubmit to the next session of parliament.

BILL PASSES IN CURRENT FORM

Prospects: Possible

The government plans to resubmit the climate bill in its current form in the next session of parliament, for which a start date has not been decided.

The DPJ could, in the meantime, woo one or more smaller parties into the ruling coalition to cobble together an upper house majority, clearing the way for smooth passage of the bill.

Even without joining the coalition, some opposition parties who favour tougher climate policy to boost the clean-energy sector could agree to help the DPJ pass the bill, although they could drive hard bargains and stall debate.

The climate bill calls for the government to draft separate legislation to design a mandatory emissions trading system within a year, so any delay could stall those plans.

Currently, Japan only has a voluntary carbon market at the national level based on companies’ pledged goals, which are mostly caps on emissions per unit of production and leave room for rises in emissions when output grows.

When trading under the new scheme will actually start has been unclear, with analysts divided between 2012 and 2013.

BILL PASSES, BUT WATERED DOWN

Prospects: Possible

The DPJ could be forced to water down the bill in exchange for help from the opposition to implement strategically more important policies such as fiscal reform and overhauling the social security system.

Climate policy has not been a big focus for voters, so the DPJ might want to spend its energy making progress on other issues to build up public support ahead of a general election that must be held before late 2013.

The weekend’s weak election outcome could also force the DPJ to listen more to demands from industry and labour groups which are against tougher climate policies because of the possible impact on jobs.

The bill has already been watered down from earlier drafts compiled by the Environment Ministry. The latest bill calls for the emissions trading system to set volume caps in principle but also “consider carbon intensity”, which leaves room for the scheme to allow companies to emit more when output grows.

BILL STALLS

Prospects: Possible

If the DPJ fails to pass the bill in the upper house, the bill will stay stuck in parliament.

The government will likely stick to its tough 2020 emission reduction target but it would lose political momentum for a mandatory emissions trading scheme, which analysts say is key for Japan to achieve deep cuts in domestic emissions.

Failure to pass the bill could also weaken Japan’s bargaining power at a U.N. climate meeting in Mexico from Nov. 29-Dec. 10 that aims to try to seal a tougher global agreement on fighting climate change. (Editing by David Fogarty)

Obama Pledges $2B in Stimulus Funds to Solar Firms

Two solar companies — one building a giant solar power plant in Arizona and the other constructing state-of-the-art factories to make thin-film panels — have been offered conditional commitments for $1.85 billion in loan guarantees backed by Recovery Act funds, President Barack Obama said.

The president announced the offers to Abengoa Solar Inc. and Abound Solar Inc. on the eve of the Fourth of July during his weekly address. He described the measures as the latest efforts by his administration to strengthen a foundation for a clean energy economy and create jobs.

The projects earmarked for the loan guarantees, which will be issued by the Department of Energy, are expected to create an estimated 3,600 in construction jobs and 1,585 permanent positions, according to Recovery.gov, the federal government’s website tracking stimulus grants.

The $1.45 billion loan guarantee for Abengoa Solar will help fund a $2 billion plan to build one of the world’s largest solar generation plants near Gila Bend, Ariz. The concentrating solar power plant, called Solana, is to be the first large-scale solar facility in the U.S. capable of storing the energy it generates.

Abengoa, which based in Spain and has U.S. headquarters in Lakewood, Colo., is scheduled to begin construction of Solana this fall with completion expected in mid-2013. The company’s renderings of the project depict a vast facility with a sea of parabolic troughs, shown in the insets to the right.

“After years of watching companies build things and create jobs overseas, it’s good news that we’ve attracted a company to our shores to build a plant and create jobs right here in America,” Obama said in his address.

Abengoa estimates that:

* Its plant will prevent emissions of more than 475,000 tons of carbon dioxide per year, amount roughly equivalent to the carbon dioxide emitted by more than 90,000 cars each year.
* Building the facility will create 1,600 construction jobs in Arizona, while the plant itself will require 85 permanent positions to operate.
* At full capacity, the plant will generate 280 megawatts of power — enough for more than 70,000 homes.
* More than 70 percent of the components and products used in construction will be manufactured in the U.S. Components supplied by U.S. companies are projected to add $1.1 billion to the country’s economy. Two assembly factories will be constructed at the project site and a mirror manufacturing plant is to be built outside of Phoenix, which could result in as many as 150 more jobs.

The $400 million loan guarantee to Abound Solar will help the firm based in Loveland, Colo., expand its plant in Longmont, Colo., and establish a manufacturing facility in a former Chrysler supplier factory in Tipton, Ind. Projected to reach full capacity in 2013, the plants are expected to be the first to use lower-cost, high-volume, state-of-the-art manufacturing technology to produce thin-film solar panels on a commercial scale.

Abound estimates that:

* Plant construction will create 2,000 jobs, and 1,500 permanent manufacturing and technical jobs will be needed to operate the facilities.
* By 2013, the annual production of panels will be able to support the generation of 840 megawatts of new solar power each year — enough to power more than 200,000 homes.
* When fully operational, the plants will produce millions of solar panels each year.

With the offers to Abengoa and Abound, the 12th and 13th conditional commitments for loan guarantees, the DOE has backed a total of $14.8 billion in loans with stimulus money to support $22.4 billion in job-creating clean energy projects, according to Recovery.gov.

What Will it Take to Create a ‘Netscape Moment’ for Cleantech?

John Doerr, the brilliant and hard-charging venture capitalist (pictured left), has told me several times that cleantech is still awaiting its “Netscape moment.”

What he means, I think, is that investors will get excited about start-up companies across a range of so-called clean technologies — solar, wind, biofuels, energy efficiency, green chemistry, lighting — when one of them has an attention-grabbing initial public offering like Netscape’s in 1995 which, by some accounts, set off the Internet investing craze.

I don’t see a “Netscape moment” on the immediate horizon for cleantech but, of course, no one knew that the Internet browser company would take off before its IPO. But if we are to get the clean-energy transformation we need, enormous amounts of capital will be required. So any evidence that investors are warming to cleantech companies is welcome. I’ve seen several encouraging signs lately.

The first, of course, was Tesla’s electrifying IPO. (Sorry, couldn’t resist.) The stock, priced at $14 to $16 a share, climbed to nearly $24 on its first day before falling below $20 by week’s end. The investor enthusiasm, I’d guess, was more about the potential for the electric car industry than about Tesla. The company has piled up $290 million in losses and would be stalled were it not for a $465-million loan from the U.S. Department of Energy, which makes all of us investors in Tesla, in a way. It will need a lot more capital than the $226 million that it raised during its initial offering to produce cars at scale and make money. Tesla had sold only about 1,000 cars through March.

Still, electric cars are coming. BMW is getting serious about building one, as The Times reported last week. The paper quoted Kai Petrick, a BMW strategist, as saying: “The departure from fossil fuels is an irreversible trend.” The Chinese firm BYD is moving ahead, as are Chevrolet with its Volt and Nissan with the Leaf. Whether or not Tesla succeeds, money will be made in this sector and investors appear ready to jump in.

The second promising development is the fact that about $2 billion in investments went into 140 cleantech companies during the second quarter of 2010, according to the latest report on cleantech venture investments from the Cleantech Group and Deloitte. That’s about the same as the first quarter, and up by 43 percent from the very sluggish Q2 in 2009.

Some money is coming from traditional VCs but much is coming from big companies, who are more cautious in their investing approach; this is a sign that the startups have good prospects. Top deals included investments from Intel Capital, GE Capital, Shell, the Brazilian conglomerate Votorantim, the French power firm Alstom and Cargill Ventures. Utilities also stepped up their investments in wind and solar generation.

Scott Smith, Deloitte’s cleantech leader in the U.S., is quoted as saying:

The significant strengthening of corporate and utility investment into the cleantech sector, relative to 2009, is very encouraging, given the key role they will play in enabling broader adoption of clean technologies at scale.

Breaking the investments down by sector, the report says:

About $811 went to 26 solar companies including Solyndra (which withdrew its plans for an IPO), BrightSource Energy and Amonix, whose investors include Kleiner Perkins, where John Doerr and Al Gore are partners.

About $302 million went to 13 biofuels companies including Amyris Biotechnologies, another Kleiner Perkins portfolio company, and Virent Energy. Amyris, which makes malaria vaccines as well as biofuels, has filed for an IPO.

About $256 million went to 11 smart grid companies, including Landis + Gyr, OpenPeak and GreenWave.

!–pagebreak– Finally, I recently spoke to a cleantech analyst named Tim Sullivan, who works with an interesting website called Sharespost, which enables the buying and selling of shares in private, venture-backed companies, including those in cleantech. The sellers are primarily former employees of startups who want to unload their stock; the buyers must be so-called accredited investors, with a high net worth.

“People who have been with the company, investors or employees, may need liquidity,” Sullivan told me. “The financial markets are still in turmoil. It’s not a great time to have an initial public offering.”

Sharespost offers a window into what some buyers and sellers think private companies are worth. Tesla shares, for example, traded late in 2009 and early this year for between $4.75 and $9 a share, so the buyers did very well if they chose to sell their shares after TSLA went public last week.

Currently, you can find sellers offering shares of Nanosolar for $2 to $2.60 per share, giving the company an implied valuation of between $370 million and $481 million. Buyers, meanwhile, have offers outstanding for Solar City that value that company at between $240 million and $302 million. Silver Spring Networks, a Kleiner Perkins-backed smart grid company, has both buyers and sellers who value the company at $1.7 billion to $2 billion. Sharespost also offers free research and news on the companies that it tracks.

When I asked Sullivan to name a company that he thought was ready for an IPO, he mentioned Silver Spring. “Most of the large utilities are customers,” he said. “They are doing quite well from a revenue perspective.”

Sullivan identified three obstacles that are holding back cleantech companies. First, many are capital intensive. Second, they are policy-dependent and “politically, oil, coal and natural gas have a lot more muscle.” Third, they are complicated. “The thing about cleantech,” he said, “is that there are so many technologies, and they are so different from an engineering perspective and they have very different businesses.” Investors and analysts have a hard time understanding them.

So, as I said, cleantech isn’t ready yet for its “Netscape moment.”

And that may be O.K. Netscape set off a bubble, followed by a collapse. And Netscape itself? It was acquired by AOL and gradually withered away.

GreenBiz.com Senior Writer Marc Gunther is a longtime journalist and speaker whose focus is business and sustainability. Marc maintains a blog at MarcGunther.com. You can follow him on Twitter @marcGunther.

UPDATE 1-Hitachi, 2 M’bishi cos say to merge hydropower ops

TOKYO, July 5 (Reuters) – Hitachi Ltd (6501.T) and two Mitsubishi companies said on Monday they would integrate their hydroelectric power businesses to bolster their ability to win orders in the $5.7 billion global market.

Hitachi, Mitsubishi Heavy Industries Ltd (7011.T) and Mitsubishi Electric Corp (6503.T) said they would spin off their hydroelectric power operations and set up a new firm next October.

Hitachi will hold 50 percent of the new company and the two Mitsubishi firms will form the other half.

The joint venture, which will compete with companies such as France’s Alstom (ALSO.PA) and Austria’s Andritz (ANDR.VI) globally, aims to boost its annual sales to 30 billion yen by the middle of the decade from about 25 billion yen.

The companies expect few new large projects in their mature home market and are looking to expand overseas where hydroelectic power generation is increasingly popular as a source of clean energy.

Strong growth in demand is expected in Asia, North America, Central and South America.

Hitachi manufactures the entire gamut of hydroelectric equipment, including turbines and generator units.

Mitsubishi Heavy produces turbines and Mitsubishi Electric focuses on generators.

Shares of Hitachi and Mitsubishi Electric closed up 1.9 percent at 327 yen and 709 yen respectively while Mitsubishi Heavy was up 0.7 percent at 307 yen. The benchmark Nikkei average .N225 rose 0.7 percent. (Additional reporting by Nobuhiro Kubo)

IFC invests $1.7 mln in Thailand solar power plant

June 24 (Reuters) – The International Finance Corporation (IFC) has invested $1.7 million in equity for a 20 percent stake in Thailand’s Solar Power (Korat 1) Company Ltd., Southeast Asia’s largest solar power plant, the IFC said.

Financials

The funding would help expand private power generation and help develop rural Thailand, the IFC, the investment arm of the World Bank, said in a statement.

“IFC’s support to renewable energy generation in Thailand, specifically solar, will encourage similar investments in the region,” Anita George, IFC director for infrastructure, said in the statement.

Solar Power (Korat 1) owns and operates a 6-megawatt grid-tied solar power plant in the Nakhonratchasima province, in northeastern Thailand, the IFC said.

The project supports the government’s goal of generating at least 20 percent of energy from renewable sources by 2022, which will improve the supply of clean energy, help move Thailand toward low-carbon growth and reduce reliance on imported energy, it said.

The Thai firm is majority owned by Solar Power Company Ltd. (SPC), a Thai developer of large, grid-connected, solar photo-voltaic projects. Kyocera Corp (6971.T) has a minority shareholding in SPC.

IFC’s investment rights in SPC and its related companies could amount to as much as $20 million if fully exercised, it said.

SPC Korat 1 also has received a minority equity investment from the Energy for Environment Foundation and debt financing from Kasikornbank (KBAN.BK).

Since 2005, IFC has invested more than $1 billion in renewable energy projects. ($1=32.37 baht) (Reporting by Arada Kultawanich; Editing by Robert Birsel)

Element Power Secures Financing for Spanish PV Solar Project

ALICANTE, Spain–(Business Wire)–
Element Power announced today that it has successfully secured a €18.5m debt
facility for its 3.51MW PV solar project in Alicante, Spain.

The 17-year facility was provided by Triodos Bank following Element Power`s
acquisition of the project, which commenced operations in August 2008. The
project, built by Siliken Energy and comprising Siliken crystalline modules,
generates clean renewable power under the Feed In Tariff governed by Spain`s
Royal Decree 661/2007.

Fraser Welham, Element Power`s Chief Financial Officer commented, “We are very
pleased with the outcome of this financing, which clearly demonstrates the
return of competitive project finance debt for selective projects and leading
sponsors”.

The project`s financing follows Element Power`s successful closing of a €71.2m
debt facility for the construction of its 49.4MW wind farm in Lerida, Spain.

“We are delighted with the Element Power team`s continued success in securing
project finance on great terms in what continues to be a challenging
environment” stated Neil Auerbach, Managing Partner of Hudson Clean Energy whose
$1bn private equity fund established and backs Element Power. Auerbach added,
“The investment in this project is one more step towards building Element Power
into a leading franchise in the renewable energy market. With a growing
operating portfolio, over 6,000MW of projects under development and some of the
best talent in the sector, Hudson has a fantastic platform that we will continue
to grow in Europe, North America and beyond”.

Triodos Bank provided the debt facility following project due diligence that
involved Garrigues Medioambiente (legal and technical) and Arç (insurance).

Element Power (www.elpower.com)

Element Power was established in August 2008 with leading industry professionals
to develop, finance, construct and operate renewable energy projects globally.
Element has offices throughout Europe and North America with highly experienced
teams focused on developing wind and solar projects alone and under joint
venture.

Hudson Clean Energy Partners (www.hudsoncep.com)

Hudson Clean Energy Partners invests in companies focused on renewable power,
alternative fuels, energy storage and demand-side energy management. Hudson`s
investment strategy focuses on high-growth, asset-based, capital-intensive
segments of the clean energy value chain using commercialized technologies to
extract energy from wind, solar, geothermal, biomass and other renewable
sources.

Madrid: Teresa Varela +34 91 657 22 87
London: Leana Dos Santos +44 207 121 0530
Email: info@elpower.com

Copyright Business Wire 2010

Olympus Capital Partners Launches With Focus on Clean Energy & IT Opportunities; New Late-Stage VC & Growth Equity Firm

MENLO PARK, CA, Jun 07 (MARKET WIRE) —
One of a select few new venture capital firms to emerge in the past year,
Olympus Capital Partners formally announced its firm today and the
closing of its $150-million inaugural fund focused on late-stage venture
and growth equity opportunities in established clean energy and
information technology companies.

The announcement coincides with the closing of a $41.5-million Series C
round of funding by Solexant, a solar technology company committed to
achieving grid parity. Olympus is the lead investor in this new round of
funding for Solexant, and the firm’s founder, Rami Elkhatib, is joining
the company’s board of directors. The firm also announced the
appointments of venture partners Charles Ho and Debra Schilling.

“We believe this is a great time for unconventional approaches to
established clean energy and IT markets,” said Elkhatib, founder and
general partner of Olympus Capital Partners. “We are very enthusiastic
about the opportunity we see for compelling late-stage clean energy and
IT companies with proven technology, strong customer acceptance,
resourceful management teams, and capital-efficient business models.
Solexant is a perfect example, and it exemplifies why we formed Olympus.”

With its highly focused, theme-based investment strategy and active
engagement with its portfolio companies, Olympus will invest its first
fund in roughly 10-12 companies over the next five years, investing
approximately $7 million to $15 million in each company. The $150-million
fund was raised from a small pool of select limited partners, including a
large international asset management group.

The Olympus investment strategy focuses on unconventional approaches in
traditional, established clean energy and IT markets. Solexant, and its
grid-parity mission, epitomizes the types of opportunities Olympus seeks
in clean energy. In the broad IT space, the firm is interested in
companies that leverage new technology paradigms to achieve more
efficient business models, and that leverage the new influence
individuals and consumers have on shaping technology, such as in
ecommerce and mobility.

The commonalities across the Olympus investment focus are capital
efficiency, grounded and resourceful management teams, and an
unconventional approach to an established investment area. Along with its
new investment in Solexant, the Olympus portfolio includes software
companies Bridgewater Systems and BDNA. Bridgewater Systems, a publicly
traded company on the Toronto Stock Exchange, enables mobile service
providers to personalize, manage and deliver applications such as mobile
commerce, mobile video, and social networking to over 150 million
subscribers globally. BDNA, The IT Genome Company(TM), offers a suite of
products and services that enables enterprises to eliminate IT waste and
free up IT budgets for innovation. BDNA has more than 250 customers in
the US and Europe.

Focused Team; Strong Domain DNA

Olympus has assembled a proven investment team with financial and
operational domain DNA developed directly in the industries and markets
and around the themes in which the firm is investing.

Rami Elkhatib, with a background in computer and electrical engineering
as well as materials science, has extensive experience and a keen
interest in fuel cell and thin-film solar technologies, and in IT
infrastructure and software companies. Prior to forming Olympus, he was
general partner at Southeast Technology Funds where he served on the
board of several portfolio companies, including Pixel Magic (acquired by
Dai Nippon), Waveguide Solutions, Elumens Corporation and Arsenal Digital
(acquired by IBM).

Earlier, Elkhatib co-founded Datacme Software, held senior management
roles at Oneworld Software Solutions, and was a technology investment
banker at UBS Warburg where he led several public offerings and M&A deals
that in aggregate raised over $800 million for high tech companies. He
holds an MBA in finance from M.I.T. where he was named Henry du Pont III
Scholar, a B.S. in Computer and Electrical Engineering from Purdue
University, and has been a member of Stanford University’s honors co-op
program in Materials Science & Engineering, where his work focused on new
materials for fuel cells, thin-film solar and other clean energy
applications of advanced materials, and where he contributed to writing
the 2nd edition of the leading textbook on fuel cells, Fuel Cell
Fundamentals.

Charles Ho, an Olympus venture partner, has spent the last decade working
on investments in energy and in environmentally beneficial products and
services with a particular focus on China and Brazil. Most recently, he
co-founded a Brazil-based company that has commercialized a process for
reclaiming aluminum and recycled plastics from waste packaging materials.
Previously, as director of the Lithcon Group, he ran a China-based
manufacturing operation and served as COO of a specialty petroleum
marketing division specializing in environmentally friendly automotive
lubrication and combustion technology.

Before working in energy and environmentally focused businesses, Ho was a
technology investment banker with Lehman Brothers and UBS Warburg focused
on software and telecommunications. He previously was a management
consultant with Deloitte Consulting, specializing in telecommunications
and network economics. He started his career as a petroleum refinery,
chemical and process engineer for Conoco. He holds a B.S. in Chemical
Engineering from the University of Texas, an MBA from Columbia
University, and is a CFA Charterholder.

Joining Olympus as venture partner is Debra Schilling, who brings to the
team more than 27 years of experience as a technology and finance
executive with considerable expertise in venture capital. Before Olympus,
she was CFO at Horizon Ventures and Aspen Ventures. Prior to venture
capital, she held multiple financial and leadership roles at Nimbus
Technologies, Radius, Air Communications, Plexus Computers and
NCR-Micrographics. Debra has a B.S. in Accounting from San Jose State
University and an MBA in Finance from Santa Clara University.

About Olympus

Olympus Capital Partners is a new late-stage venture capital and growth
equity firm. Its partners apply unconventional wisdom in seeking
theme-based clean energy and IT investment opportunities that are
capital-efficient and whose management teams are grounded and
resourceful. The company’s initial investments are in thin-film solar
innovator, Solexant; mobile services infrastructure, personalization and
management software provider, Bridgewater Systems; and The IT Genome
Company, BDNA. Based in Menlo Park, Calif., the firm closed its
$150-million inaugural fund in Q4 of 2009. For more information, visit
www.olympusvc.com.

Media Contact:
Lauren Dresnick
ldresnick@newventurecom.com
650-347-2735, ext. 103

Copyright 2010, Market Wire, All rights reserved.

eHydrogen Solutions Files Annual Report: Positioned for Growth With Asset Increase of 1,355%

RENO, NV, Jun 03 (MARKET WIRE) —
eHydrogen Solutions, Inc. (PINKSHEETS: EHYD) files financial report for
the period ending March 31, 2010. $15.9 million in Revenue since
inception and 1,360% increase in Assets.

The Company posted revenue of $15.9 million since inception and increased
its Assets by 1,360% from the same period last year.

Pursuant to the Company’s policy of investor transparency, the Company
maintains regular public disclosures and filings with the OTC Disclosure
Service. Further disclosures will be filed detailing the company’s
ongoing activities.

The Company’s portfolio possesses of core proprietary On Demand Hydrogen
Production (ODHP) technologies that have a preliminary market valuation
at least tenfold its acquisition valuation of $6,736,000.

As a result of recent acquisitions and development progress in its core
ODHP technolgies, eHydrogen Solutions (eHs) has emerged as a focused
Intellectual Property and Technology holding company that specializes in
the acquisition and development of ODHP technologies designed to produce
hydrogen in the most cost effective, environmentally friendly and
sustainable manner possible for integration in to a wide variety of clean
energy solutions.

The Company has made important technical and financial resources
available to support this strategic paradigm shift in its development
strategy. Included are a corporate-wide re-branding and the commencement
of its pioneering Development & Demonstration Collaboration program of
its proprietary On Demand Hydrogen Production (ODHP) Technologies.

The addition of advanced Photoelectrolysis, artificial Photosynthesis and
reactive metal technologies to eHs’ core ODHP technologies, particularly
its H-Solaris and H2-Reactor Distributed Energy projects, has increased
the volume of on-site hydrogen to levels sufficient to meet the fuelling
requirements of Combined Heat & Power systems, Distributed Powers
solutions, including Hydrogen Fuel Cell Vehicles. This has important
potential implications, since hydrogen can be produced on-site, at little
cost using no outside energy source, on the sun or reactive metals and
water; and does not need to be transported or stored.

As a result of recent acquisitions and development progress in its core
ODHP technolgies, eHydrogen Solutions (eHs) has emerged as a focused
Intellectual Property and Technology holding company that specializes in
the acquisition and development of ODHP technologies designed to produce
hydrogen in the most cost effective, environmentally friendly and
sustainable manner possible for integration in to a wide variety of clean
energy solutions.

The Company encourages collaboration with public, private and
institutional partners in all phases of the development cycle; and
accepts submissions from both joint venture development partners and
inventors on its website at www.eHydrogenSolutions.com.

The Company recently announced it had increased its focus and resources
to the critical Technology Development & Demonstration phase of the
Innovative Cycle, which includes Prototype, Demonstration and Market
Analysis through collaboration. The Company believes its acquisition and
growth-oriented business plan will provide stockholders with consistent
equity growth and access to the multi-billion dollar alternative energy
industry through its licensing and distribution of hydrogen-powered
energy systems and solutions.

The Company continues to develop and license a variety of technologies
and power systems founded on its core ODHP holdings and will make further
announcements on the progress of each of these new initiatives as the
various technologies are integrated into its development and partnership
programs.

The Company believes its acquisition and growth-oriented business plan
will provide stockholders with consistent equity growth and access to the
multi-billion dollar alternative energy industry through its licensing
and distribution of hydrogen-powered energy systems and solutions.

About eHydrogen Solutions

eHydrogen Solutions (eHs) specializes in the
development of On Demand Hydrogen Production (ODHP) technologies designed
to produce hydrogen in the most cost effective, environmentally friendly
and sustainable manner possible for integration in to a number of clean
energy Distributed Power solutions. In addition to providing an “on
demand” hydrogen technologies for aftermarket hydrogen enhancement
applications that increases the efficiency of virtually any combustion
process, eHs portfolio of On Demand Hydrogen Production (ODHP)
technologies enables the integration with fuel cell applications,
advanced battery technologies, Combined Power & Heating systems, Hydrogen
Internal Combustion Engines (HICE) and other energy efficient and
environmentally friendly power generating devices.

eHs’ proprietary ODHP technologies are available to qualified partners in
a wide variety of vertical and/or geographic markets worldwide, through
joint development/ adaptation, distribution and production
agreements.

Safe-Harbor

This release contains statements or
projections regarding future performance that is forward-looking
statements as defined in the Private Securities Litigation Reform Act of
1995. Actual results may differ materially from those projected as a
result of certain risks and uncertainties. The company’s filings contain
various RISK FACTORS (and are incorporated on the Company’s website
“Investors” section by reference) and should be read before any
investment decision.
The company maintains its web site at:
www.eHydrogenSolutions.com

Contact:
Investor Relations
Tel: +1 (775)-636-6077
info@eHydrogenSolutions.com

Copyright 2010, Market Wire, All rights reserved.

Govts urged to focus on climate funds risk, returns

Governments should focus more on generating returns and reducing risk for investors to attract the $100 billion in aid needed by developing countries to cope with climate change, a panel of experts said on Wednesday.

Rich countries are being urged to adhere to key elements of a climate accord signed in Copenhagen last year, including a promise of $10 billion a year in quick-start aid from 2010-12 for poor countries, rising to $100 billion a year from 2020.

“$100 billion sounds like a lot of money … (but) raising large amounts of money in the private sector is actually very easy,” said Martin Lawless, head of environmental financial products at Deutsche Bank.

“Too much attention is focussed on who will provide the money. Instead it should be on the other side, how to increase returns and reduce risks. Once that is established, the finance will follow.”

The United Nations urged rich nations on Tuesday to keep their pledge to give $30 billion to poor nations by 2012, saying it was “not an impossible call” despite budget cuts in Europe.

But with worries over sovereign debt also growing, the private sector may be asked to help fill more of the funding gap.

“When you have the right proposition, the financing will come,” said Mohsen Khalil, global head of the International Financial Corporation’s new Climate Business Solutions Group.

“We’re at a transition phase where the public and private sectors have to align their interests because heavy subsidies will be required initially until costs come down and we can have a large-scale sustainable business.”

The panel agreed that the role of carbon markets in directing funds to financing clean energy and climate change adaptation in developing countries was shrinking.

Another panel of analysts said earlier on Wednesday that market mechanisms will survive beyond 2012, but their exact shape remains unclear as international climate talks now bypass their role in favour of the wider policy picture.

“Carbon credits were good for a time, but is it the only instrument (to engage the private sector)? I don’t think so,” said Khalil.

“Against the background of recent economic turmoil, investors are particularly risk averse, so the private sector needs TLC: transparency, longevity and consistency,” Lawless said.

He cited a unilateral carbon price floor set by China in 2007 and growing uncertainty over the $144 billion global carbon market’s future post-2012, when the first five-year leg of the Kyoto Protocol expires, as deterrents to investors.

Key ministers and climate negotiators from China to Norway have said governments are unlikely to agree a successor to Kyoto at UN talks in Cancun, Mexico later this year.

“It will never be possible to motivate substantial private sector finance if the market faces the same uncertainties every 5-10 years. Incentive mechanisms need to be assumed to be permanent,” he added.

(Editing by Amanda Cooper)

US ready to help China cut its greenhouse gas emissions: Locke

The US would offer technological help to world’s biggest polluter China to enable it achieve its target of emission reduction, a top official said today, acknowledging that China, India and Brazil have made significant commitments at Copenhagen.

Ahead of his visit to China and Indonesia, US Commerce Secretary Gary Locke has said not only the western world, but developing countries including India, China and Brazil made strong commitments to far-reaching climate agreements.

“When we go to China next week, we will inform the leaders of China that American companies have both the technology and the resources to help China, and indeed India — Indonesia — solve the unprecedented energy and environmental challenges that their two countries face,” Locke told reporters at the Washington Foreign Press Center.

He said while commitments have been made, the question now revolves around how to implement them collectively.

“Of course, the Chinese have set very aggressive targets. Indonesia has set a very aggressive target as well.

We in the United States, of course, are prepared to move forward,” said Locke, who next week is leading a clean-energy trade mission to China and Indonesia.

This will be the first Cabinet-level trade mission under President Barack Obama.

“It comes on the heels of President Obama’s national export initiative, which seeks to double American exports over the next five years and supporting some two million new jobs in the process,” he said.

“Here at home, every American should know that when a US clean-energy company finds success abroad, it creates more jobs here at home in the United States.

“In fact, some of the companies on this trip produce over 90 per cent of the components for the products that they sell overseas right here in the US,” Locke said.

Clean energy for world’s poor essential for achieving Millennium Development Goals: UN

Washington, May 8 (ANI): The UN has emphasized the need for providing clean energy to the world’s underprivileged people as access to sustainable energy and increased efficiency is an essential condition to the achievement of the ambitious Millennium Development Goals (MDGs) envisaged by it.

According to the new report from the UN, the lack of access to modern energy is a significant barrier to economic development. Today, more than 1.6 billion people worldwide have no access to electricity and close to one billion people depend on firewood, etc. as their energy supply for cooking and heating.

A reliable, affordable energy supply is key to economic growth and the alleviation of poverty in the world, the report said.

The new report provides both analysis of the problems and present recommendations to the international community, specifically on how to establish targets for increasing access to energy. By 2030 all people should have access to modern energy services and there must be substantial increases in energy efficiency, the report says.

Another target in the report is to reduce global energy intensity by 40 per cent by 2030 (the total energy consumption compared with the Gross Domestic Product).

The successful adoption of these measures would reduce global energy intensity by 2.5 per cent per year – approximately double the historic rate. This would also have a very significant impact on greenhouse gas emissions while providing most countries with economic advantages, it said.

“It may seem impossible to provide worldwide access to modern energy forms while also reducing global carbon emissions, but it is actually possible and the report shows how. However, it will require global political will and the involvement of all stakeholders from top politicians and the private sector to the individuals living in the north as well as in the south, “says John Christensen head of the UN Environment Programme, Risoe Centre.

The International Energy Agency estimates that expanding access to electricity to cover basic needs would result in only a 1.3 per cent increase in greenhouse gas emissions.

These emissions could be further reduced through improved energy efficiency and the use of renewable or cleaner sources of energy. This is a way to support a new energy development, which is sustainable in the long run, it said.

The report highlights that some countries have already shown that it is possible and not just a dream to provide more people with energy access, including Brazil, China, and Vietnam as well as Denmark, Japan, Sweden, and California in the United States. These countries have dramatically improved their energy efficiency.

BRIC leaders commit to develop, provide clean energy

Brasilia (Brazil), Apr.16 (ANI): Leaders of Brazil. Russia, India and China (BRIC) on Thursday said that they recognized that energy is an essential resource for improving the standard of living of our peoples and that access to it is of paramount importance to economic growth with equity and social inclusion.

In this regard, they said: “We will aim to develop cleaner, more affordable and sustainable energy systems, to promote access to energy and energy efficient technologies and practices in all sectors.”

“We will aim to diversify our energy mix by increasing, where appropriate, the contribution of renewable energy sources, and will encourage the cleaner, more efficient use of fossil fuels and other fuels. In this regard, we reiterate our support to the international cooperation in the field of energy efficiency,” they added after deliberating on various issues at the BRIC Summit here.

“We recognize the potential of new, emerging, and environmentally friendly technologies for diversifying energy mix and the creation of jobs. In this regard we will encourage, as appropriate, the sustainable development, production and use of biofuels,” they said in a joint statement.

“In accordance with national priorities, we will work together to facilitate the use of renewable energy, through international cooperation and the sharing of experiences on renewable energy, including biofuels technologies and policies. We believe that BRIC member countries can cooperate in training, R&D, Consultancy services and technology transfer, in the energy sector,” they concluded. (ANI)

Pickens’ Clean Energy shares set for a fall -Barron’s

NEW YORK, April 11 (Reuters) – Shares in Clean Energy Fuels (CLNE.O), the natural gas company controlled by energy tycoon T.Boone Pickens, are likely to drop at least 30 percent due to its high valuation and an upcoming dilution of its share base, according to financial weekly Barron’s.

Stocks | Utilities

The paper, in its April 12 edition, said that Clean Energy’s healthy business prospects have already been more than priced into the company’s recent valuation at 45 times 2010 cash flow and 20 times average forecasts for 2011 — about double the multiples of some rival companies.

Shareholders of Clean Energy can expect to get massively diluted as management has plenty of stock options and warrants hanging over the company will dilute earnings almost 30 percent.

The warrants include some that Pickens must exercise before 2012 or lose a profit of $150 million.

(Reporting by Yinka Adegoke; editing by Gunna Dickson)

Pickens’ Clean Energy shares set for a fall -Barron’s

NEW YORK, April 11 (Reuters) – Shares in Clean Energy Fuels (CLNE.O), the natural gas company controlled by energy tycoon T.Boone Pickens, are likely to drop at least 30 percent due to its high valuation and an upcoming dilution of its share base, according to financial weekly Barron’s.

Stocks | Utilities

The paper, in its April 12 edition, said that Clean Energy’s healthy business prospects have already been more than priced into the company’s recent valuation at 45 times 2010 cash flow and 20 times average forecasts for 2011 — about double the multiples of some rival companies.

Shareholders of Clean Energy can expect to get massively diluted as management has plenty of stock options and warrants hanging over the company will dilute earnings almost 30 percent.

The warrants include some that Pickens must exercise before 2012 or lose a profit of $150 million.

(Reporting by Yinka Adegoke; editing by Gunna Dickson)

UPDATE 2-JP Morgan winds up Asia carbon team in Singapore-source

* JPM carbon projects absorbed by wholly-owned EcoSecurities

* Source says decision to disband team “makes business sense” (Adds comment from the bank)

By David Fogarty

SINGAPORE, April 9 (Reuters) – U.S. investment bank J.P. Morgan (JPM.N) has shut down its four-member Asia carbon team based in Singapore to streamline operations, a source familiar with the matter said on Friday.

The decision comes after the bank bought major carbon project developer EcoSecurities, leading to a decision that J.P. Morgan’s Singapore operations and projects could be absorbed by EcoSecurities’ much larger network in Asia, the source said.

The team was formally wound up on March 31, the source added.

“From a business point of view it does make sense,” the source said. “Because EcoSecurities has the critical mass in each location, they are in a better position, from the (carbon) origination point of view, to be in that market.”

J.P. Morgan acquired unlisted EcoSecurities late last year. The firm is one of the largest investors in clean energy projects registered under the Kyoto Protocol’s Clean Development Mechanism (CDM).

EcoSecurities is now the primary vehicle for carbon project development for J.P. Morgan.

The bank declined to comment specifically on the departures, but said:

“J.P. Morgan has been expanding its investment in the fast-growing carbon markets and the EcoSecurities acquisition underscores the firm’s commitment to the carbon emission reduction markets.”

The bank’s team sourced carbon offsets by helping develop clean-energy projects in Asia. Its projects include mass-market deployment of more efficient cook stoves in Bangladesh.

“It sounds funny because we acquired EcoSecurities and, to be honest, in that sense, it came as a bit of a shock,” said the source, referring to the decision to disband the team.

Asked how many projects have been transferred to EcoSecurities, the source declined to say, but added:

“What we went through was a very diligent process of reviewing what projects we were doing, what made sense, what Eco had the capacity to take on.” (Editing by Clarence Fernandez)

World Bank set to approve S.Africa utility loan

WASHINGTON, April 8 (Reuters) – The World Bank is set to approve a controversial $3.75 billion loan on Thursday to help South African state utility Eskom develop a coal-fired power plant despite objections from the United States and environmental groups.

Eskom has argued it has no immediate alternative but to develop the 4,800-megawatt Medupi coal-fired plant in the northern Limpopo region to ease chronic power shortages in South Africa and ensure power supplies to neighboring states.

While $3 billion of the loan will fund the bulk of the coal-fired plant, the remainder of the financing will go toward renewables and energy efficiency projects.

“We believe this project is important for South Africa and South Africans and we expect it will be well received by the board,” World Bank spokesman Peter Stephens told Reuters.

Arguing that the World Bank should be promoting clean energy sources, the United States is expected to withhold support for the loan at Thursday’s meeting of the World Bank board, made up of member countries.

It is unclear whether Britain, which has threatened not to back the loan, will support the project in the end after a recent visit to London by South African President Jacob Zuma in which he lobbied British officials to support the loan.

Regardless of U.S. opposition and possible British opposition, the loan is expected to be approved. The question is whether they attach conditions to the loan that compels Eskom to meet certain criteria on energy efficiency and extending electricity to the poor.

The opposition to the Eskom loan has raised eyebrows among those who note that the two advanced economies are allowing development of coal powered plants in their own countries even as they raise concerns about those in poorer countries.

The South African plant is using the same “cleaner coal” technology used in the United States and other developing countries to lower carbon emissions.

Meanwhile, environment and development groups stepped up pressure on the World Bank ahead of Thursday’s meeting not to finance the project.

In a letter endorsed by 125 organizations, the groups argued that the project will not bring electricity to the poor but will benefit large mining houses and smelters.

In a complaint submitted this week to the World Bank’s independent complaint body, the Inspection Panel, on behalf of residents living near the Medupi plant claimed that the project violated World Bank policies.

“This coal loan is not about alleviating poverty or supporting sustainable development and the World Bank has no business making it,” environmental group Friends of the Earth said in a statement on Wednesday.

LAWMAKERS’ CONCERNS

In a letter to World Bank President Robert Zoellick on March 26, three senior Democrats, including John Kerry, Barney Frank and Patrick Leahy, who chair congressional panels, raised concerns about the loan and the Bank’s rationale for supporting a project that will be a major polluter.

They said while developing countries should not be constrained by a lack of access to energy “we cannot ignore the reality that our planet is hurtling toward potentially catastrophic climate change.”

The lawmakers said the World Bank loan contract should include a commitment by Eskom to update the Medupi plant with additional environmental protection as new technology becomes available, and should insist that Eskom upgrade the environmental standards of its other power facilities .

In his April 5 response, Zoellick told the lawmakers the World Bank had worked with the South African government to significantly improve the Eskom project over the past year, guided in part through discussions with the U.S. Treasury.

In the letter obtained by Reuters, he said without the new power plant South Africa would face rolling blackouts similar to the ones that crippled its economy in 2008. He said South Africa had taken an “early and strong position” on cutting carbon emissions and scaling up renewable investments.

“We have conducted due diligence on all aspects of the project and have concluded that the projects development and poverty reduction merits, along with the need to support South Africa in meeting its energy crisis, should lead us to submit the project to our board for their consideration,” he added. (Editing by Tomasz Janowski)

Mayor urges renewable energy links to feed mines

Mount Isa Mayor John Molony says a transmission line between Mount Isa and Townsville will create renewable energy opportunities for all the towns along the link between the two cities.

A report by BIS Shrapnel identifies significant potential to develop large-scale clean energy, like solar and wind plants, between the two centres.

Councillor Molony says the linkage would be a great advantage for the region and should be built as soon as possible.

“With the advent of another mining explosion coming in Australia the need is there to kick off new mines and for that continuity of power,” he said.

“What’s happening out there at the moment, if you look at some of the mining magazines, you will see massive diesel generation plants are being installed and all that’s doing is increasing our carbon footprint.”

U.N. panel suspends 2 more carbon emissions auditors

The reputation of a Kyoto Protocol carbon finance scheme was dealt another blow after a UN climate panel late on Friday suspended the third emissions cut verifier in 15 months, and partially suspended a fourth.

The scheme’s executive board suspended emissions auditors TUEV SUED and partially suspended Korea Energy Management Corporation (KEMCO) after spot checks at the companies’ offices revealed procedural breaches.

The board, an arm of the UN’s climate change secretariat, said it will work with TUEV SUED and KEMCO to ensure timely resolution of the issues.

Under Kyoto’s Clean Development Mechanism (CDM), companies can invest in greenhouse gas cuts in developing countries and in return receive carbon offsets which they can sell for profit.

In the tightly regulated $33 billion market, clean energy projects need to be validated by private sector certification firms called designated operational entities (DOEs). DOEs also verify the emissions cuts before projects can receive offsets from the UN.

Germany’s TUEV SUED is the second largest CDM validator having approved 1,147 projects or nearly one fifth of all validated to the end of February.

The firm is also a major emissions cuts verifier, confirming from some 100 projects reductions of nearly 84 million tonnes of CO2, or 21 percent of the 395 million tonnes verified to date.

By contrast, KEMCO is much smaller, validating only 0.8 percent of all projects so far and verifying the cuts for a single project.

The CDM’s executive board said it suspended TUEV SUED for not following procedures and for giving “a positive validation opinion to some projects even though it had concerns about additionality.”

Additionality refers to projects needing to prove they are are financially unviable without the prospect of receiving funding through the CDM.

The board said it also had concerns over the qualifications of some of TUEV SUED’s personnel.

The board rejected KEMCO’s re-accreditation application due to issues also including employee qualifications.

Both firms can continue with existing work but are barred from taking on new validations or verifications, the board said.

“There’s such a backlog of offset issuances (at the UN) that a suspension merely means TUEV SUED’s issuances will be replaced by other ones,” said Alessandro Vitelli of IDEAcarbon, adding that it likely will not immediately affect offset prices.

The CDM’s board suspended DOEs SGS UK last September and DNV in Dec. 2008. Both have since been reinstated, but analysts said the effects of the suspensions on offset supplies have not yet been fully felt by the market.

The board also confirmed on Friday the accreditation of another DOE, TUEV NORD, after it passed a similar spot check.

PROJECTS

The board registered around 40 projects, mainly in China, including some 24 hydroelectric dams and six wind farms.

It rejected registration requests from three projects in China, two cement plant waste heat recovery projects and a hydroelectric dam, collectively expected to generate over 500,000 tonnes in carbon cuts by 2012, according to UN data.

Britain’s Climate Change Capital and Dutch bank Rabobank [RABN.UL] were listed as offset buyers for the projects.

The board’s meeting report can be read at http://cdm.unfccc.int/EB/index.html. The board’s next meeting is scheduled for May 24-28.

(Editing by Marguerita Choy)