Earl Energy lights up $5M equity offering for miltary power options

Earl Energy lights up $5M equity offering for miltary power options
March 30th, 2011

Earlcon

An Earlcon systems

PORTSMOUTH, VA – Companies with a renewable energy focus are likely to get yet another boost in attention and backing following the Obama administration’s shoves in that direction and increasing focus on energy due to both Japan’s struggles with its nuclear plants and the disruptive political climate in the Middle East. One firm that may benefit is Earl Energy, a company owned and led by veterans that provides power plant engineering and energy management primarily to the military, has opened a $5 million equity offering.

One of the company’s signature products is its Earlcon: the Energy at Remote Locations Container, a fully configurable energy solution for the expeditionary environment. It is a family of rugged and rapidly deployable power generation systems that employ a combination of solar, wind and battery storage integrated with the latest generation of Tactical Quiet Generators .

Equipped with the Earl Energy Management System, a proprietary smart power distribution system that dynamically manages and prioritizes loads ensuring critical equipment, such as communications, surveillance, and other devices, receive continuous power where grid supplied power does not exist.

The company focuses on renewable energy sources and develops unique power systems for military needs. Those include a diesel-lithium battery field generator and a solar panel array.

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Digital Summit: www.digitalsummit.comEarl Energy lights up $5M equity offering for miltary power options

Solar CEOs to Congress: Don't Ax Our Loans

CEOs of green energy companies including First Solar (FSLR) and SunPower (SPWRA) petitioned Congress on Tuesday to spare two key Department of Energy loan guarantee programs from the Congressional budget ax.

By Eric Rosenbaum - The Street

The deficit hawks in Congress have taken aim at the Department of Energy's loan guarantee program that has helped to finance the development of solar power companies and specific solar power plants. The 1705 DOE loan guarantee program could be completely eliminated, while the 1703 DOE loan guarantee program could see its funding cut in half from roughly $50 billion to $26 billion. In the letter, the green energy CEOs specifically ask that Congress allow section 1705 projects to be transferred to section 1703 of the DoE loan guarantee program.


Solar energy experts have said in the past that if the 1703 DOE loan guarantee program were cut in half, it's possible that there would be no funding for any projects under this program other than nuclear energy -- that, however, was analysis in the pre-Japanese nuclear crisis days. In the case of the broader attack on the 1705 DOE loan guarantee, talk in the solar market has hit the level of hyperbole, with solar sector executives talking about Congress "killing" solar projects.

First Solar CEO Robert Gillette and SunPower CEO Tom Werner were among the signatures on the letter sent to both Senate and House leaders.

The green energy CEOs struck both the rhetorical high note of losing the green energy race to China, and the bottom line reality of U.S. job numbers, in making their pitch for extension of the DoE loan programs.

"We are deeply concerned that eliminating funding for this critical program will not only destroy thousands of pending jobs and hinder the growth of critically-needed U.S. domestic energy production, but also defeat America's effort to compete with China, Germany, and others in the clean technology marketplace," the green energy CEOs wrote. In addition to both public and private solar companies, CEOs of wind, geothermal, biomass, and biofuel companies signed the letter to Congress in defense of the DoE loan guarantee program.

The green energy lobby stated these data points in its letter:

The program's real costs are paid for by the companies that submit applications, and each federal dollar of loan guarantees leverages $13 in private capital investment.
This program has already committed more than $26 billion in loans and loan guarantees to projects that represent $42 billion in investment the U.S. economy.

The green energy lobby continued in its letter:

The investments represent an estimated 58,000 direct and indirect jobs across 19 states.
Projects still in the pipeline for approval that would be killed or put at risk by the proposal in H.R. 1 to take away the funding for the program represent an additional $24 billion in near-term investment in America's energy infrastructure and another 35,000 jobs.

Putting the numbers aside, there is a philosophical divide in the budgetary debate. There is a belief among some politicians that the government should not be in the business of "picking" the winners and losers in the green energy market development, and they argue that aside from budgetary constraints, the DoE loan guarantee program tilts too far in this direction.

There is also a philosophical divide over the idea that green energy draws a straight line to job growth. The conventional economic debate over "broken windows theory" applies to green energy. If a bakery window is broken, the theory goes, it creates a job for the window replacement company, which then goes out and spends the money it has earned on the wares of other merchants. Therefore, the person who broke the window is a benefactor of the economy. Yet there is stiff philosophical opposition from some conservatives that the "broken windows theory" is a fallacy, especially when it comes to green energy, and that replacing one job for another does not create a new job or add to the economy, but in fact, the broken window destroys a job that is not visible to the public.

When it comes to green energy jobs, one fact that can be stated plainly is that the industry is so young the US government does not have enough data on its overall impact on the economy.

In the solar sector context specifically, the Department of Energy loan guarantee program is more important to the solar thermal industry than photovoltaic solar companies -- solar thermal is more expensive and needs more support -- yet it has still been a major source of funding for utility-scale solar projects of all types. Most importantly, any Department of Energy loan guarantee that can't be accessed as part of financing by a solar company like First Solar, as it builds and sells utility-scale solar power projects means one thing: that the company has to sell projects at a lower price overall to make up for the buyer's need to bring more equity to the table.

First Solar recently closed a DOE loan guarantee that enabled it to achieve a higher sales price on its Agua Caliente project. First Solar has applied for DOE loans on many other projects in its pipeline too.

Ken Hansen, a partner at Chadbourne & Parke who works on solar financing, said it would be "an epic breach of faith" for the government to eliminate the DOE loan guarantee programs.

Thomas Amis, partner at Cooley, said that the DOE has done much to respond to many of the criticisms lodged against the loan guarantee program in the past, and that to gouge the program now would be penny-wise and pound-foolish. "It would be the height of irony that precisely at the moment when Jonathan Silverexecutive, director of the DOE loan program office, has his loan guarantee team fully assembled and operating on all cylinders, it is essentially defunded," Amis said.

Amis did not want to employ the hyperbole of the solar market being "killed" as a result of an elimination of the DOE loan guarantee program, but he maintains that it's a serious issue for the growth of the US solar market. While experts including Amis agree that the DOE program is more important to solar thermal companies, they worry that the former primary mechanism for financing of all solar projects -- tax equity under the investment tax credit (ITC) -- has not returned to a healthy enough level to make up for an abrupt end to the DOE loan program.

Amis added that while, to date, the DOE loan program has been more focused on solar thermal, given the continued constraints in the private project finance market an abrupt end to the DOE loan program will have a disproportionate impact.

Additionally, the Internal Revenue Service section 1603 cash grant program, which some solar experts argue is a better way to fund renewable energy than the DOE loan program due to its wider availability, is set to expire at the end of the year. Though the cash grant program could be extended for one more year, as it was in the 2010 tax cut package (current industry outlook is not bright for its extension), any budget hit on the DOE loan program coupled with the cash grant expiration would be a double whammy for renewable energy financing.

"Very few developments can completely destroy an industry, but in a constrained financing environment the disappearance of the DOE Loan Guaranty Program will represent a huge setback to the deployment of innovative renewable energy technologies," Amis said.

Solar Technology News-Artifical Leaf

• One Artificial 'Solar Leaf' Could Power Entire Household
• one prototype work for 45 hours straight without dipping in efficiency
• ...could actually make it onto the market because of its low cost. It’s created from nickel and cobalt, making large-scale manufacture feasible.
• 'artificial leaf' is submerged in water under direct sunlight, allowing it to break down the liquid into hydrogen and oxygen. 
• These gases are then stored in the fuel cell

It’s no surprise that the most notable scientific breakthroughs have come from technology that allows us to do what nature does, well…naturally.

photosynthesis solar leaf

For instance, scientists have spent years trying to replicate photosynthesis, a process so intricate and complicated it took a multitude of trials to figure out. But they have made a breakthrough—and the impact it could have on off-grid living is huge.

The announcement of the breakthrough was made by the American Chemical Society, an organization of researchers that were able to create an “artificial leaf” capable of turning sunlight directly into energy for later use.

So what makes it different from any other solar cell currently on the market? Just like a regular leaf, it uses water.

In fact, the “artificial leaf” is submerged in water under direct sunlight, allowing it to break down the liquid into hydrogen and oxygen. These gases are then stored in the fuel cell.

While the process is impressive, the amount of energy it can produce is even more amazing—one single leaf could power an entire household in a developing area. They’ve already seen one prototype work for 45 hours straight without dipping in efficiency.

While the technology itself has been around for nearly a decade now, this particular model could actually make it onto the market because of its low cost. It’s created from nickel and cobalt, making large-scale manufacture feasible.

Daniel Nocera, Ph.D. and head researcher on the team said it best:

“A practical artificial leaf has been one of the Holy Grails of science for decades. We believe we have done it. The artificial leaf shows particular promise as an inexpensive source of electricity for homes of the poor in developing countries. Our goal is to make each home its own power station. One can envision villages in India and Africa not long from now purchasing an affordable basic power system based on this technology.”

Photo Credit: Yoko Nekonomania via Flickr CC

Posted on March 30th in Solar Products by Kayla.

Contact Scotts Contracting for your Green Building Needs in St Louis

Re: Will There Be a Clean Air Act Tomorrow?

On Tue, M

March 29, 2011: In This Issue º Mercury Pollution Near You º What's Next for Nuclear Power º Coal Plant for Sale º You vs. Exxon Mobil º A Day of Action for Workers Share: IN THE NEWS The Sierra Club's Beyond Coal campaign director, Mary Anne Hitt, recently appeared on Good Morning America to talk about how you can avoid mercury in your diet and get tested for exposure. (Don't miss seeing the show's host get his results on camera). To learn more about mercury -- and possibly get tested yourself -- sign up at our Stop Polluters website. EXPLORE Firm Up Your Vacation Plans Can't wait for the snow to melt? Warm up for summer on one of the Sierra Club's plentiful spring trips -- or book your summer trip while spots are still available. Explore the fabulous canyons, lakes, and waterfalls of Northern Yosemite, pitch in on a service project and kayak in Florida's Cayo Costa Island State Park, or whitewater raft spectacular wilderness canyons in Utah and Colorado's Dinosaur National Monument. Visit our Outings website to find the trip that's right for you. And be sure to sign up for the Explorer newsletter for monthly updates on new and featured trips! TODAY'S GREEN TIP When you consider that showering uses 7 gallons of water per minute, it starts to hit home why you'd want to turn off that tap earlier. Low-flow showerheads certainly help — they'll get you down to 2.5 gallons per minute — but the biggest savings occurs when you just jump in, rinse off, then get out. More tips | Subscribe! ENJOY Not-So-Empty Nests Which feathered lovers regurgitate food during courtship? Which pint-sized bird binds its home together with spiderwebs? Which mother leaves weak hatchlings to die? Learn some strange, true facts about nests and the birds that build them in this Sierra magazine slideshow. ON THE RADIO 1) Forrest North and Armen Petrosian, founders of a new iPhone app called PlugShare, which helps electric vehicle owners find places they can plug in anywhere in the country 2) Taggart Siegel and Jon Betz, filmmakers of a new documentary about bees called Queen of the Sun 3) Jody Farnham, author of The Joy of Cheesemaking 4) Green cuisine tips from chef Annie Somerville. Listen | Subscribe PROTECT Keep Mountain Streams Clean Some members of Congress want to make it easier for Big Coal to destroy our mountains and pollute our streams. Their plan is to strip the EPA's ability to protect us from mining pollution -- requiring them to ignore science as Big Coal fills mountain streams with toxic waste. Tell Congress to let the EPA do its job to protect America from mountaintop-removal mining. Will There Be a Clean Air Act Tomorrow? To protect the corporate polluters that got them elected, several U.S. senators are pushing legislation that would gut the Clean Air Act. The vote could happen any day this week, which is why it's urgent that you call your senators and tell them to stand up to Big Oil and Coal. The Clean Air Act has a 40-year track record of protecting our health and saving lives. Contact your senators now before it's too late. Is There Mercury Pollution Near You? Mercury is poisonous and every year about 48 tons of it get dumped into our air and water, and winds up in our food. That's because almost two-thirds of coal-fired power plants lack the necessary pollution controls to keep toxic air pollution like mercury, acid gases, and arsenic out of our air and water. What can you do? Find out if there is a polluting coal plant near you (use our brand new map) and then learn what you can do to help phase out this old, dirty way of generating power. A Roadless Walk Across California At 74 years young, Santa Lucia Chapter member Cal French has seen the California landscape change dramatically, with sprawl development and Joshua trees on a collision course. As the climate changes, though, wild plants and animals need secure open-space corridors so they can adjust and adapt. To highlight the need to save those natural corridors, Cal has pulled on his boots and started a two-month, 530-mile roadless hike all the way from the Colorado River westward to Morro Bay. Follow his progress as he blogs and posts photos from his trek. What's Next for Nuclear Power The tragedy in Japan has suddenly cast the risks of nuclear power in a different light for many of its former supporters, but the Sierra Club has consistently been opposed to nuclear power. As Sierra Club Executive Director Michael Brune wrote for Fortune magazine this month: "We shouldn't be throwing good money after bad and using taxpayer dollars to subsidize the construction of new nuclear plants. Instead, we should be deepening our commitment to an aggressive transition toward cleaner energy resources, like solar and wind, that don't cause catastrophic meltdowns, don't cause massive spills on our coastlines, and don't contribute to global warming." Maybe then we won't need to mine for uranium right next to Grand Canyon National Park. Coal Plant for Sale In the market for your own personal outdated energy source? You're in luck -- Santee Cooper is selling all the parts and design for its now-canceled coal plant in South Carolina. Yes, the company has even listed it as "for sale" in Power Engineering magazine. The Sierra Club has been heavily involved in fighting this plant, which is one of more than 150 we've stopped through our Beyond Coal campaign. Now we're looking for your ideas: What should be done with all those spare parts? The Difference Between You and Exxon Mobil The people who created the wonderful "Story of Stuff" video didn't stop there -- they've now released "The Story of Citizens United v. FEC: Why Democracy Only Works When People Are in Charge." That's a mouthful, but it really comes down to why corporate spending to influence politicians and elections has exploded ever since the Supreme Court granted corporations like Exxon Mobil the same free-speech rights enjoyed by actual human beings. The result: "a democracy in crisis." Watch it now and then take action to demand reform. A Day of Action for Workers As Sierra Club Executive Director Michael Brune has written, union members and environmentalists share a common vision of creating healthy, safe, prosperous communities across America. Together we fight for policies that ensure clean air, water and lands, and decent wages, health care, and a secure retirement for working families. On April 4, 2011, citizens across the nation will come together for a Day of Action for human, civil, and environmental rights and a better America. We will not allow corporate polluters and their political friends to take away the rights that Dr. King and thousands of others fought to secure. Find out how you can get involved. View previous editions at the Insider Archives. Subscribe to the Sierra Club Insider. Unsubscribe from the Sierra Club Insider. Know someone who might be interested in the Sierra Club Insider? Help spread the word by using our online form to tell your friends, family, and co-workers about the Insider or simply forward this Insider on. (Some email clients strip the links out of emails when forwarded. If your email does this, you can also direct friends, family, and co-workers to our online version.)

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