Smart Energy News

Lynnfield, Mass. — GreenMan Technologies, a provider of technological processes and marketing programs for alternative energy and renewable fuels, has raised $8.2 million in a private placement of stock, the company disclosed.

The investment included participation from several institutional investors, including Spring Mountain Capital and Next View Capital.

Founded in 1992, GreenMan, through its alternative energy subsidiary, American Power Group, provides a natural gas conversion technology for aftermarket diesel engines and diesel generators.

The company’s technology converts existing diesel engines into more efficient and environmentally friendly engines that have the flexibility to run on diesel fuel and compressed natural gas; diesel fuel and liquefied natural gas; diesel fuel and
pipeline or well-head gas; and diesel fuel and bio-methane.

“We believe that GreenMan provides the best dual-fuel conversion technology available in the market,” said Jamie Weston, a managing director in the private equity group of Spring Mountain Capital, in an announcement. “The company’s non-invasive solution allows its customers to take advantage of the lower cost of natural gas, while
maintaining the performance benefits of diesel gas when needed.”

Image credit: American Power Group

GreenMan Technologies website

American Power group website

Stuttgart, Germany – Hertz, the international car rental company, and IBM announced they are partnering on a pilot program in Germany to advance electric vehicle (EV) mobility and user adoption through “intelligent” recharging stations.

Under the program, Hertz will supply electric vehicles to the car-share fleet used by IBM employees to drive between Stuttgart Airport and the company’s campus in Ehningen, about 30 kilometers away.

The electric cars provided by Hertz will be charged using decentralized generation of electricity on the IBM campus, and the charging stations will be operated with IBM software that optimizes the usage of generated power by renewable energies. The software also balances demand and availability of electricity power to prevent load peaks.

Hertz is the first car-rental company to deploy electric vehicles on three continents — in the U.S. (New York, Washington, D.C. and San Francisco), the U.K. (London), and China (Shenzhen).

Hertz announced it plans to increase its global EV presence by deploying vehicles in other countries in the coming months. The company will continue to use its rental and car sharing locations as bases for vehicles and charging stations, and use its fleet management tools and “consumer-facing” GPS systems to help form an EV grid, the company said.

Ehningen IBM Innovation Center website

San Francisco – Gen110, a provider of distributed energy to residential customers, announced it has received an investment from the big venture capital firm Kleiner Perkins Caufield & Byers.

Terms of the investment were not disclosed.

Founded in 2009, Gen110 provides a way for “heavy energy users” to purchase residential power. Its initial efforts have involved solar systems, but the company reportedly plans to expand into other fields, including fuel cells, energy storage, energy efficiency, and possibly electric cars.

With Gen110, qualified homeowners pay for the energy they produce, saving on energy costs through a fixed-rate agreement. Maintenance and insurance of power generating equipment is covered by the company.

Gen110 says it has helped more than 2,000 homeowners in California avoid utility rate hikes by producing about 13 gigawatt hours of electricity annually at their own homes.

Photo credit: Gen110

Gen110 website

Fremont, Calif. — Delta Products, a Delta Group company headquartered in Fremont, has been awarded a $1.9 million grant from the U.S. Department of Energy (DOE), for the development and demonstration of a residential electric vehicle charging system with smart grid communication capabilities.

Under the grant, over the next three years the Delta research project will develop smart-grid enabled residential electric vehicle chargers that will allow the quick deployment of charging infrastructure for plug-in electric vehicles.

The smart-charging system will allow utilities to reduce infrastructure costs and manage load during peak hours, according to Delta, and will benefit consumers by taking advantage of off-peak electricity rates for electric vehicle charging.

Delta’s system price is targeted to be 50% lower than today’s competing technologies, the company said.

As part of the DOE project, Delta will work in conjunction with their partners The Detroit Edison Co., Mercedes Benz R&D North America, and kVA to develop a working demonstration system.

Image credit: Delta Products

Delta Products website

Charlotte, N.C. — Liberation Capital, a Charlotte-based private equity firm, announced on Wednesday it has led a $6 million investment in Desalitech, a developer of energy-efficient desalination technology.

Desalitech was founded by Professor Avi Efraty, inventor of the company’s technology, which provides a water treatment platform that raises recovery, reduces energy consumption and reduces capital cost, lowering the cost of treating wastewater, industrial water, brackish water and seawater. Some of Desalitech’s installations have run continuously for over three years, according to the company.

In 2008, Desalitech raised $3 million of venture capital from AquAgro Fund.

Founded in 2010, Liberation Capital specializes in project finance for distributed renewable energy, water and wastewater projects. Its investment model focuses on strategic partnerships with cleantech firms and project developers with multi-project/multi-year investment horizons.

Image credit: Desalitech

Desalitech website

Liberation Capital website