Energy-from-waste developer Covanta restructuring, taking on $1.3 billion in debt, while more money flowed into ethanol this week.
Even though 450 of the industry's biggest names in cleantech investing were rubbing elbows this week at the Clean-tech Investor Summit in Palm Springs, California, the deals didn't stop flowing.
As you see below, there was no shortage of money changing hands in cleantech/greentech.
Here are the deals we saw this week:
- Covanta Holdings is refinancing its Covanta Energy subsidiary, a leader in the American waste-to-energy business, with $1.3 billion in debt. The move was announced last Friday, and insiders at the Clean-tech Investor Summit this week suggested the financing could close as early as late today.
- Liberty Renewable Fuels, a Michigan-based ethanol company, filed with the SEC to offer up to 20,000 of its Class A membership units. Liberty was formed in June, 2006 to develop, construct, own and operate an 110-million gallon ethanol plant in central Michigan.
- Comverge obtained a $40 million senior credit facility. GE Energy Financial Services’ debt finance group lead-arranged the credit for Comverge’s wholly owned subsidiary, Alternative Energy Resources, Inc. The credit facility, which has a seven-year term, will be used for capital expenditures and expansion of the subsidiary’s existing and future awarded pay-for-performance Virtual Peaking Capacity programs.
- AeroVironment, a developer of fast charging systems for electric vehicle batteries, priced its initial public offering at $17 per share, one dollar above the originally anticipated range of $14 to $16 per share. The shares will begin trading on Tuesday, January 23, 2007 on NASDAQ Global under the symbol “AVAV”.
- Plextronics, a developer of photovoltaic technology for organic solar cells, received $750,000 in funding from the Sustainable Energy Fund (SEF) of Central Eastern Pennsylvania to further its development. The company's Plexcore technology uses thin layers of plastic semiconductors, instead of silicon, to absorb light and create electricity, and can be printed like inks.
- GE Energy Financial Services made its first investment in a plant that will generate power and produce substitute natural gas using coal gasification technology. It's acquiring 20 percent of The ERORA Group, developing Kentucky’s 630 net megawatt Cash Creek Integrated Gasification Combined Cycle facility. Details of the transaction were not disclosed.
- Another ethanol reverse takeover... All Energy Company (AEC) of Johnston, Iowa took control of ICrystal, Inc. (PINKSHEETS: ICRI). No mention of what the new symbol will be.
- Nexterra Energy Corp., a Vancouver, Canada-based maker of gasification systems that use waste fuels "inside-the fence" at industrial and institutional facilities, has raised $6.8 million CDN in third-round funding. Return backer ARC Financial Corp. led the deal.
- Sulfurcell Solartechnik GmbH, a Berlin, Germany maker of photovoltaic solar modules, raised an undisclosed amount of funding from Masdar Clean Tech Fund and return backers Vattenfall Europe, Ventegis Capital and IBB Beteiligungsgesellschaft.
- Day4 Energy Inc., a Burnaby, British Columbia-based photovoltaic panel developer, raised $11 million CDN in new VC funding. No additional information was disclosed. GMP Securities served as placement agent.
- CVC Capital Partners and KKR agreed to buy Dutch waste management company Van Gansewinkel. No financial terms were disclosed. The firms then would merge Van Gansewinkel with joint portfolio company AVR, which they acquired last year, they said.
As always, if you have deal-related info, share it with us.
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