Follow the Green Money: DOE Makes $1.4 Billion Loan to Nissan, Tesla Files for IPO, Panasonic to Invest $1.1 Billion in Solar, ClearEdge Power Raised $11 Million

Electric cars are getting plenty of attention and funding this week. The Department of Energy has announced its $1.4 billion loan agreement with Nissan Motors to retool their Tennessee plant to build advanced electric cars and battery storage devices.  The Leaf is Nissan's entry into electric vehicles. Tesla, the all electric auto maker based in San Carlos, CA, has filed with the SEC for an Initial Public Offering (IPO).  A recent recipient of a $465 million loan arrangement from the Department of Energy, Tesla hopes this IPO will generate $100 million in funding.  Future plans include building an all electric sedan, the model S.  Better Place, a company producing charging stations for electric vehicles, has received $350 million in venture capital funding.

Maker of consumer electronics, Panasonic, has announced it plans to invest $1.1 billion into producing and selling solar panels over the next five years.  With an earlier purchase of competitor, Sanyo, Panasonic now has more access to solar technology.

ClearEdge Power, based in CA and OR, a maker of  fuel cells that convert natural gas into heat and electricity, has raised $11 million in venture capital funds. Here is a link to their green career openings page.

Comments

[lån]

Probably a great idea at the time but what happens when the gov run out of money. It will take long time before these cars are profitable..