Word: biodiesel
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...working on that. I've just seen... one of their... engines that are 20% more energy efficient. And we have seen cars. As a matter of fact, a car was delivered to me today. We changed the engine to see how we could make more efficient. It was biodiesel. We took the gas engine out and put the biodiesel engine in. It has more horsepower than it ever had before but it is 50% more energy efficient and it puts out 40% less greenhouse gas emissions. This is why technology will create jobs, it will create more revenues, more businesses...
...Both are memories now, and in recent years the area had fallen on the hard times familiar to blue-collar communities across the U.S. But Grays Harbor is showing new color, thanks in part to the Seattle biofuel company Imperium Renewables, which just opened the nation's largest biodiesel plant there. The four-month-old refinery positively gleams (and smells vaguely like lawn clippings because of the vegetable oil used to make the biodiesel). As he scales a 500,000-gallon (1.9 million L) holding tank, plant manager Sid Watts can't conceal his pride. He points to the dock...
...firm Ignition Partners. A restless ex-Microsoft executive, Tobias thought software had maxed out, and by 2004 he was looking for the next big thing. He found it in the emerging clean-tech sector - which encompasses renewable energy, environmental efficiency and water - and discovered the struggling start-up Seattle Biodiesel, which had just been launched by a former airline pilot. Tobias injected badly needed capital, eventually buying 20% of the company and becoming CEO of the renamed Imperium Renewables. ("Less local," he explains.) More funding came from angel investors and successful rounds of venture financing, and today Imperium...
...this explosion of interest, the sudden materialization of capital can seem too good to be true. When Tom Todaro launched Seattle-based Targeted Growth, which uses genetic engineering to greatly enhance the yields of crops, he thought the company's ability to multiply the amount of feedstock available for biodiesel or ethanol would make it a star of the emerging biofuels sector. But it was the late 1990s, when clean tech made up less than 1% of total venture-capital spending, and investors weren't interested. "I went begging to friends and families and small investment firms," Todaro recalls...
...they haven't stopped since. "We went from hat in hand to not being able to return investor calls," Todaro says. The company won millions in financing, and has just announced a deal with a firm called Green Earth Fuels to develop 100 million gallons (380 million L) of biodiesel by 2010. Says Richard Kaufman, CEO of the international sustainable investment company Good Energies: "There is just a wall of money out there...