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September 26, 2007 – Vol. 12 No.27 The Lemelson Foundation Pledges $2 Million to Support Green Energy Technologies at the Clinton Global Initiative. Energy projects will create hundreds of jobs, disseminate low-cost innovations and eliminate nearly 4,000 tons of carbon emissions in Asia, Latin America and Africa by 2010. The portfolio of projects will test for-profit and non-profit models that deliver energy technologies and services to those earning less than two dollars a day. Financing -- a combination of grants, loans and equity investments -- will meet the specific needs of individual implementing organizations. --- E+Co, a global non-profit investment company,with grant and program related investment from the Lemelson Foundation will supply solar photovoltaic energy (PV) systems, to help the rural poor in Tanzania gain access to power for household light, cell phone charging and other small appliances. E+Co anticipates the deployment of 7,000 high quality household PV systems and the creation of 125 jobs. --- Emergence BioEnergy Inc. will use a Lemelson grant to finance the development of biowaste-burning, stirling engine generators and the creation and adaptation of a micro-franchise business model in Bangladesh. The investment is expected to yield 500 systems and 1,500 jobs by 2010, eventually scaling to 500,000 franchises in South Asia and Africa. --- Envirofit International will use funding to install direct-injection retrofit kits on 3,000 two-stroke motorcycle taxi engines in Vigan, Philippines by 2010. The $350 retrofit kit can be financed through a micro-finance loan, which is paid off by drivers within a year by the more than $500 in annual fuel savings. The production, installation and servicing of these engines will create 50 local jobs, Full-scale market penetration is aimed for in the Philippines where over 1.8 million two-stroke vehicles are in use. --- Solar Electric Light Company (SELCO)-India will use a combination of grants and loans to support the expansion of SELCO's solar energy distribution as it opens 25 new service centers in four Indian states -- reaching an additional 135,000 households with its lighting services. Finanacing will also aid the company with the introduction of new products to its customers, including cooking technologies, biogas systems and thermal dryers. --- IDEAAS (Instituto para o Desenvolvimento de Energias Alternativas e da Auto Sustenabilidade) will use a grant to test the feasibility of providing solar energy to rural poor people in the lower Amazon basin. The organization's solar kits -- which households lease rather than purchase -- are tailored to a customer's needs, expectations and current energy expenditures. This project is expected to equip 130 households in the lower Amazon basin with solar energy systems, eliminating 780 tons of carbon dioxide emissions, and eventually scaling to 3,000 families. The Lemelson Foundation uses its resources to inspire, encourage and recognize inventors, innovators and entrepreneurs to support invention-led economic, social and environmentally sustainable development. (9/26/07)
Links: Lemelson Foundation http://www.lemelson.org Clinton Global Initiative http://www.clintonglobalinitiative.org
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No
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