Mean, green, and local
Posted on November 26th, 2008 – 1:39 AMBy Thomas Lee
To hear politicans speak these days, green innovation will help pull the United States out of this painful recession. That and hundreds and billions of dollars in government bailout money.
Earlier this month, Gov. Tim Palwenty unveiled his “Green Jobs Investment Initiative,” a series of tax breaks to companies that create jobs in renewable energy. Last week, President-elect Barack Obama announced a stimulus plan to create 2.5 million jobs in two years by building highways and roads and developing wind farms, solar panels, and fuel-efficient cars.
So in wake of this chatter, I asked VC guru Doug Cameron to name some local clean tech companies whose technology might spark a green revolution in Minnesota.
Cameron knows a thing or two about the subject. A graduate of MIT and Duke University, Cameron was director of biotechnology at Cargill Inc. and chief science officer at Khosla Ventures, the world’s biggest investment pioneer in clean technology and renewable energy. He recently joined Piper Jaffray as managing director and chief science advisor for the firm’s renewable energy and clean tech practice.
In the past, Cameron has been less than impressed with Minnesota’s clean tech industry. But he does see some intriguing possibilities:
Segetis Inc., Golden Valley
Last year, Khosla Venture invested $15 million into this startup, which is developing agricultural feedstocks as substitutes for plastics and specialty chemicals made from petroleum.
Ever Cat Fuels, Anoka
Using a breakthrough technology developed at Augsburg College, the company is building a $5 million plant in Isanti hat eventually will produce 3 million gallons of biodiesel fuel a year.
Dubbed the “Mcgyan Process,” the technology, inspired by the work of Augsburg undergraduate and newly minted Rhodes Scholar Brian Krohn, converts most feedstocks into biodiesel fuel without using much water or producing lots of waste.
Draths Corp., Plymouth
The company combines biology and chemistry to produce environmentally-friendly nylon fibers made from biobased feedstalks instead of petroleum. “Nylon has one of the worst carbon footprints,” Cameron said.
Syngas, Elk River
The startup is converting biomass into synthesis gas, the basic building blocks for other chemicals.
BioCee Inc., Minneapolis
This under the radar “biotech catalyst” startup out of the University of Minnesota is using microrganisms to make latex films.
Sage Electrochromics Inc., Fairbult
Sage is generating buzz among investors for its “smart glass” technology, which allows users to adjust the tint of windows depending on a building’s temperature and energy needs. With the press of a button, users can tint windows during the summer to reduce glare and solar heat, eliminating the need for ugly curtains or blinders. Users also can brighten windows in the winter to trap more heat. For building owners, that means lower air conditioning and heating bills. For bleary-eyed cubicle drones, that means more natural light and a view of the outside world.
One response to "Mean, green, and local"
Missed a biggy. At an earlier capitalization stage than these companies, but with a technology that could be huge: Badgersett Research Corp; badgersett.com. They have developed highly advanced crops using cutting edge breeding, that come from woody plants. No plowing, no planting every year, machinable- and with 3x the yield of soybeans; in Minnesota, demonstrated.
