Clean-tech entrepreneurs: it takes green to make green.

• Author: Young, Martha
• Position: Q1 TECH REPORT

FORUM STRIVES TO CONNECT BUSINESSES WITH CAPITAL

The NREL Industry Growth Forum is about connecting the billions of dollars available in the capital markets with business talent worthy of investment. It is about connecting that business talent with the legal expertise needed to tap into federal and state incentive funds. And it is about leveraging intellectual property, human capital, financing and public policy to drive the nascent clean technology economy.

The November forum, presented by the National Renewable Energy Laboratory, selected a winner and two additional companies to receive up to $10,000 plus comprehensive business development services to bring their product to commercialization. It wasn't winner-take-all, though. Entrepreneurs who attended the forum were able to meet privately with dozens of business resources including bankers, venture capitalists, lawyers with expertise in clean tech, and public policymakers.

One theme underlying the panel discussions was the money available for clean technology companies. The federal government has been pouring billions of dollars into clean tech since 2005. John A. Herrick, a partner at the Denver law firm Brownstein Hyatt Farber Schreck, pointed out a Department of Energy Loan Guarantee program that made $4 billion available for lending in 2006, $10 billion for energy efficiency and renewable energy (EE&RE) projects in 2008, and an additional $8.5 billion for EE&RE projects in 2009. The same program also provided an additional $28.5 billion in 2009 for nuclear, carbon sequestration and coal gasification projects.

A new round of federal loan guarantees under the Recovery Act provides an additional $100 billion for conventional renewable energy systems, electric power transmission systems and pilot-scale biofuel projects. On top of these programs, many states each have tens of millions in stimulus dollars specifically tagged for assisting clean technology companies.

Investing in a new industry requires massive investment at different stages along the path to commercialization.

"Most of the federal EE&RE grant funds under the Recovery Act are closed," Herrick said. "However, there are still multiple venues for obtaining funds such as state grants available from federal stimulus monies and the Federal Loan Guarantee programs that stimulate the debt markets.

"These different programs are not easily understood, though. I'd...