News Releases
Investors and Advocates Declare Independence at Green Leaders Week
Eco Investment Club San Diego Reaches Across Various Industries to Establish the First Annual Green Leaders Week, July 21 - 25, 2008
SAN DIEGO, CA -- The San Diego and Los Angeles chapters of the Eco Investment Club are organizing a week-long buffet of events for investors, who are interested in meeting with leaders within the clean technology industry of Southern California. In addition, industry professionals looking to network and job seekers with an interest in the green revolution can attend our various job mixers.
The key sponsor of this event is GreenCore Capital, a locally-based investment fund with a focus on accelerating the growth of renewable energy companies, while bringing them to commercialization. Attendees will also be delighted by Eco Caters, a 100 percent organic catering company and sponsor.
Accredited and institutional Investors who are interested in getting a first-hand look inside the minds of cleantech leaders will have the opportunity to witness operations of some of the fastest growing companies by attending a series of "open houses".
Green Leaders Week will kick off with a ‘Bang’ at the Envirepel Open House on Monday, July 21, where participants get an insider’s look into San Diego County’s first-of-its-kind, ultra - low emissions Biomass to Energy Plant. Envirepel’s Clean Renewable Technology will be showcased during tours through the facility, which is in the final stages of construction.
On Tuesday, July 22, participants will explore the current state of renewable energy and the future of green investment with thought leaders at two panel discussions at Envision Solar International, Inc., a global developer and provider of solar integrated building systems (SIBs™). Sustainable architects, photovoltaic system designers, and other industry experts will discuss the opportunities for energy efficiency in the home, LEED certification and independence from the electrical grid in "Bringing Renewable Energy Home". Utility experts, green academics and investment professionals will exchange ideas about the transition of energy infrastructure to renewable power sources, how the green revolution will impact financial markets, and investment strategies in "Mastering the Energy Revolution".
Job seekers will get a much needed "Green Collar Job" mixer, co-organized with Green Drinks San Diego, on Thursday, July 24, in Encinitas. A second mixer in Hollywood, on Wednesday, July 23 and will feature Jan Schalkwijk , Prinicpal of JPS Global Investments.
On Friday, July 25, Eco Investment Club San Diego will host its July Greenmeet titled, "LEED: Is It Worth It?" - A comprehensive, insightful, and controversial panel discussion featuring Keith Schneringer, President of US Green Building Council-San Diego Chapter, and real estate developers to discuss the US GBC LEED Certification Program. Philip J. Bona, Assistant Vice President of Architecture and Planning of the Centre City Development Corp, will be the Keynote Speaker.
Eco Investment Club San Diego will broadcast footage of Green Leaders Week with media sponsor InvestorIdeas.com in a webinar format, and has also teamed up with media sponsor Green Money Journal to deliver a quality launch for the first annual, "Green Leaders Week". Other Green Leaders speakers include Dawn L. Van Zant, President of InvestorIdeas.com and Bart King, News Editor and Erin Hughes, Green Dream Jobs manager for SustainableBusiness.com/ Progressive Investor.
Click here for a full schedule of Green Leaders Week.
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About Eco Investment Club San Diego
Our mission is to support the progression of the Green Movement in San Diego by promoting Sustainable businesses, education, networking, relationship building, and Eco Investing, which ultimately drives the Green Economy. Our objective for "Green Leaders Week" is to effectively exhibit the most accomplished and influential "Green Leaders" throughout the Southern California region. Sponsorship opportunities are available, including affordable options for small companies. Companies interested in participating in Green leader's Week should email Yeves Perez for more information:
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. A schedule of events will be continuously updated on the Club's homepage, www.ecoinvestmentclub.com, beginning on Wednesday July 9, 2008.
U.S. Department of Energy Begins Solicitations for Up To $30.5 billion In Loan Guarantees
Monday, June 30, 2008
WASHINGTON, DC – The U.S. Department of Energy (DOE) today announced three solicitations for a total of up to $30.5 billion in federal loan guarantees for projects that employ advanced energy technologies that avoid, reduce or sequester air pollutants or greenhouse gas emissions. The three solicitations are in the areas of energy efficiency, renewable energy and advanced transmission and distribution technologies; nuclear power facilities; and advanced nuclear facilities for the ‘front-end’ of the nuclear fuel cycle. This marks the second round of solicitations for DOE’s Loan Guarantee Program, which encourages the commercial use of new or significantly improved energy technologies, and is an important step in paving the way for clean energy projects.
In a Fiscal Year (FY) 2008 loan guarantee implementation plan sent to Congress in April, DOE outlined plans to issue its second round of solicitations concurrently no later than June 2008 for energy efficiency, renewable energy and advanced transmission and distribution projects (up to $10 billion); nuclear power facilities (up to $18.5 billion); and advanced nuclear facilities for the “front-end” of the nuclear fuel cycle (up to $2 billion). Later this summer, DOE intends to issue a solicitation for loan guarantee applications for advanced fossil energy projects (up to $8 billion). The authority to issue loan guarantees in the amounts specified in these solicitations was provided to DOE in the Consolidated Appropriations Act, 2008 and is consistent with the Department’s FY 2009 Congressional Budget Request.
“Loan guarantees from the Department will enable project developers to bridge the financing gap between pilot and demonstration projects to full commercially viable projects that employ new or significantly improved energy technologies,” Jeffrey F. Kupfer, the Acting Deputy Secretary of Energy, said. “Projects supported by loan guarantees will help meet President Bush’s goal of diversifying our nation's energy mix with energy projects that will improve the environment while increasing energy efficiency.”
The Department issued a Request for Information on April 11, 2008 and held subsequent public meetings in Washington, D.C. and Palo Alto, California to receive input on the development of the solicitation for projects in the energy efficiency, renewable energy and advanced transmission and distribution areas.
The loan guarantee process is organized into four phases: application, project evaluation, conditional commitment, and final approval and closing of a Loan Guarantee Agreement. Selection criteria for the clean energy projects under these solicitations will focus on a project’s ability to avoid, reduce or sequester air pollutants or greenhouse gas emissions; the speed with which the technologies can be commercialized; the prospect of repayment of the guaranteed debt; and the potential for long-lasting success of these technologies in the marketplace.
Today’s round of solicitations builds off of the previous solicitation issued by DOE which supported energy efficiency, renewable energy and fossil energy projects. DOE is currently reviewing the applications received to date as a result of the first solicitation.
Loan guarantees issued by DOE will be backed by the full faith and credit of the United States, and will facilitate the early commercial use of new or significantly improved technologies that will help fulfill President Bush’s goals of reducing our reliance on imported sources of energy by increasing energy efficiency, diversifying our nation’s energy mix, and improving the environment.
The solicitations may be downloaded from the Loan Guarantee Program Website at : http://www.lgprogram.energy.gov
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NEWS MEDIA CONTACT: Angela Hill, (202) 586-4940
GreenCore Business Services Collaborates with Interlink Capital Strategies to Support Federal Renewable Energy Funding Initiative
June 27, 2008 -- WASHINGTON, D.C – GreenCore Business Services (GCBS) and Interlink Capital Strategies (ICS) today announced an agreement to assist in the development of complementary funding sources to support the U.S. Department of Energy’s new Loan Guarantee Program, which encourages early commercial use of new or significantly improved technologies for energy projects in the U.S.
Under Title XVII, DOE provides loan guarantees for up to 80 percent of the total cost of green energy projects which utilize new technologies to avoid, reduce, or sequester air pollutants and greenhouse gases, and will help fulfill President Bush’s goal of reducing the U.S. reliance on imported sources of energy by diversifying the nation’s energy mix and increasing energy efficiency. The program currently has plans to issue loans for up to $38.5 billion.
GCBS and its sister company, GreenCore Capital Management (GCCM), plan to submit two of it’s portfolio companies to the DOE’s next loan guarantee solicitation: a waste-to-energy solution based out of San Diego, CA (Envirepel Energy, Inc) and a thermal energy solution to replace heating oil consumed in the Northeast United States using renewable biomass (International WoodFuels, LLC).
ICS, a financial advisor that works with U.S. government agencies, such as ExIm Bank and the Overseas Private Investment Corporation (OPIC), will assist GCBS in preparing documentation and submitting proposals to the DOE. ICS is particularly well suited to assisting GCBS because of ICS’s extensive experience in working with U.S. government loan programs.
“We feel that the relationship with Interlink will streamline and provide a springboard in the process of working with the U.S. Department of Energy Program”, says Shawn Lechien, CEO of GreenCore Business Services. “GCBS and its portfolio companies have a number of advanced renewable energy solutions that are ready for commercialization and could take advantage of the Loan Guarantee program offered by the DOE. With the renewable energy technologies provided by our portfolio companies and the expertise provided by ICS, we feel confident that the DOE guarantee will result in groundbreaking solutions being used to meet this country’s energy needs.”
ICS' Chairman, Tim Bridgewater, indicated after the signing that "Interlink is pleased to be taking its many years of power development and finance overseas in emerging markets and applying those skills to developing new energy technologies in the U.S."
GCBS will also complement DOE’s Loan Guarantee Program by assisting other companies in raising the equity needed to leverage U.S. government funding. Future initiatives include working with companies in the program, as well as making others aware of its benefits and assisting them in using the program efficiently.
About GreenCore Business Services (GCBS)
GCBS is a San Diego, CA-based consulting firm specializing in assisting renewable energy and environmental technology companies. Specifically, GCBS provides the professional support that startup and early-stage companies need to become financially stable, taking the role as an accelerator in the process of taking new environmental technologies and making them successful. By assisting with both day-to-day operations and sales/project financing, the portfolio companies are able to focus their time on turning their technological vision into reality. In this effort, GCBS works with GCCM, a private equity fund manager, in identifying commercially viable technologies and raising the capital necessary to make an environmental impact.
For more information, visit www.greencorecapital.com.
About Interlink Capital Strategies (ICS)
Interlink Capital Strategies, established in 1994, is a Washington, DC - based consulting firm specializing in emerging market finance and business development. ICS provides critical financial advisory services to mobilize financing in regions outside Western Europe and North America. The type of financial support includes: business development seed money, export working capital, vendor financing, direct foreign investment support, insurance, bonding and guarantees. Over the years its principals have been active in a number of renewable energy projects ranging from geothermal to hydropower and solar. They have also been active in independent power development.
For more information, visit www.i-caps.com.
