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Clean Tech Investments in 2008 with Draper Fisher Jurvetson
Thursday, December 27th, 2007 running time 21:20
Clean Tech isn't a new field for VC. Draper Fisher Jurvetson has been investing in Clean Tech since 2001: Managing Directors Steve Jurvetson and Raj Atluru expound on what's big in 2008: Efficiency, Waste Energy, Thin Film Solar, Synthetic Genomics, and more.
Venture Capital and Clean Tech
With 11 deals that invested over 40 million dollars in clean tech in 2007, some say Draper Fisher Jurvetson's lead Clean Tech investing in 2007.
The company made its first investments in Clean Tech in 2001.
DFJ Managing Directors Steve Jurvetson and Raj Atluru sit down and expound on some of the big trends in clean tech with guest host Katie Fehrenbacher, the editor of GigaOM's Earth2Tech
Where DFJ looks to invest: Energy Efficiency, Waste Energy, Biological Solutions
"Nature has evolved inherently clean and green ways of doing things" Steve Jurvetson
More hot areas: Electric Cars (REVA and Tesla Motors), Thin Film Solar (Konarka), Solar Installation and Financing (SolarCity)
Will 2008 bring the first synthetic life forms? Craig Venter's Synthetic Genomics could produce custom microbes for energy applications.
Highlights
gas station
(
11:37, 11:57, 11:37, 11:57
)
Draper Fisher
(
1:13, 1:13
)
United States
(
18:55, 18:55
)
tax credit
(
17:45, 17:45
)
gas station
(
11:37, 11:57, 11:37, 11:57
)
Draper Fisher
(
1:13, 1:13
)
United States
(
18:55, 18:55
)
tax credit
(
17:45, 17:45
)
Automatically Generated Transcript(may not be 100% accurate) ( more )
" I would welcome to -- show I'm -- I -- the earth attack saying it comes clean tech news and."
" And I'm old you know me indicating it was tough. -- he's filling in for joys the game to lose in -- nine and I for the jets that I think you're doing a great job I think -- wanted to -- Joyce's game. -- you -- but they think Katie and I rent and interviewed you and and and considering. I. --"
" Welcome back. And you received everything and rise Adler. Partners and Draper Fisher enters -- So clean tech investing. DNJ led clean tech investment in 2007. According to some data eleven deals. I'm over forty -- So what's your strategy for clean tech investing has it is that your goal to be the -- and -- Them."
" Maybe a general collectively you. Something of substance it is our goal to be a leader in all there is an -- capital both globally and in the last. In that we've been for years most activist investor missed him most deals in time trying to find most of Kennedy's. And part of our long term strategies to identify new industries and opportunities early and that's actively in the so we did that in the mid ninety's at the Internet but nano technology -- energy -- well but specifically."
" This I don't know for their strategy we tend to want to be leaders in emerging categories from start investing in clean tech back in 2001. Have been more than most active investors all through a period of time. Lester was a very active here were were pretty brought our -- and think that we're we're in solar weren't convinced fuels -- energy efficiency -- optimization. To look at vehicle companies and some just been very very active and how we thought about the the category both the -- internationally."
" I'm whether any specific areas of clean tech that the company is going to focus on next year he more than this year."
" Most of an opportunist with -- the hard for -- to predict with any idea. Accuracy than a couple weeks ahead. Let's do what -- but let me get this acknowledges that I think we've been. Pretty broad and lot of categories ciller made four investments. And here we really like for two dozen -- energy efficiency. And so it's the easiest cheapest way to conserve energy and do with the with. Minimal expenditures and so we've got one empire -- of Republicans here which is optimizing. Peaceful -- sponsor and expect to see a lot more like the applications and energy space and for -- applications. In an -- we like as -- that includes all kinds of ways. -- could be -- feeds -- of the production process could be the stinky stuff coming from your agriculture. Others construction industries. That is these that reached generally we like I think if it's in well with the stones and the biology applications that."
" Sure yeah I think in 2000 it will see a lot more investment just by us in the industry at large. In biological solutions to dangerous problems -- It might be directly biological meaning plain algae bacteria are used to me -- fuel to convert waste stream to something viable. But more exactly can be prophecies so assembly can be ways to do infiltration better. And if you it sort of look at it from Ohio perspective nature has evolved. Inherently clean and green ways of doing things in the all around them but the success. To the way in which -- sugars and fuel to process but organisms -- we're just now learning how to harness those capabilities. For me. And nature tends not to waste a lot of energy tends not to get the plan that lack right it is obvious about it balance. In I think when lean more and more on those kinds of solutions for our fundamental and learn how to work with the planet has posted."
" Let me talk a little bit about synthetic gene comic and -- and here's -- controversial -- hotels."
" I think he drives and pushing the boundaries. So for those who don't know Craig venter is the person for sequence the human genome and unlock -- life for human beings since then the last few years. Studying the ocean microbes populations that exists you know notions for harvesting energy with processing chemicals. Using microbes as a workhorse. I believe that in 2008 he or team like his and succeeding in the first synthetic life former first artificially form a bacteria like organisms that's been built from the ground up Phoenix and the -- letter by letter. And this a -- screen capabilities to custom design microbes for energy applications the reason that the energy is. These organisms naturally process hydrocarbons they take carbon based compounds that manipulate them they harvest energy from them they change and other chemicals. And they are already chemical were horses all around us we're just now learning how to tweak them modify them get into of all the way we want to produce chemicals. Fuels and plastics and no large large array of products -- currently derived from hydrocarbons drug out of the ground with -- she -- that sugar with smaller. Or you -- author of the Los -- stocks to make everything. From simpler than all the little into the change although it to each day England Britain and -- and a they genomics is there any creative fuel that they've tested in two cycle engines and challenge -- great. An entirely different from violence and Dotson and do well when you think consumers will and it can't use and and -- That's -- question home for the consumer because there's so many interesting pre consumer and industrial applications in the for business reasons for reasons you start there. I believe the consumers won't know that they're consuming this to start it will be for example. You know you're getting more methane which natural gas running your pipes the prices coming down because of that it just doing it from Wales. You're converting it directly from coal and coal seams were injured resources that literally landed. As -- by Kathleen Copeland of summit on and you don't know where this came from the human -- you can with the prices of it's I think you'll see a hopefully that he lessening of these supplied that Patrick them the companies have. In pricing change before you really have branding around with atlases. You know like -- were honest with virgin oil hit a and economic. You know I think for branding reasons that might you know that the best product meaning."
" The -- if you yeah well that that can't be good for the that the you will of that and not before when the company's exit and -- take had you been surprised by this. Moms -- so -- me."
" Couple comments and I think if you think globally there have been a lot of distinctly second street between solar. Solar and biofuels and they've been comes -- cells Germany and while successful. Suntech plus the five others and in China wants successful. Gone from start up being one of the major spoilers are excellent models locally. -- on India's going from zero to be in number four manufacturer of wind turbines and went from systems amazing story. So globally there that they're clean they're focusing -- exits and the -- and competitor in the mark was commerce and some power here in the valley. That being said there have been a lot of an additional investment -- that in the past five years those computer into a point -- now. It could happen the open market that the next year you'll see more confusion over or it's a broader category. Technologies. And so we've sort of we've had you know could technology companies in solar in -- permanent one in public they don't really look or captive beaten much or acquisitive. And biofuels which is going up and -- and the -- seasons from the utility scale copies you know. Things like cold gas stations utility scale solar. As an example I think you'll see some more. Application areas and energy stores comes -- public. So conclusive growers segmentation of the victims -- we'll -- you know because Seymour."
" there's some data out this week that should be fees we're expecting more clean tech investing next year that the same time. That this -- be overvalued."
" There's only work that."
" Well not unlike an impression because it's just there's. There's always this mix of hope and fear. Any rapidly changing industry and so the simultaneously be those who think that are going to bubble and those who think the stock -- when you have these. Rapid shifts the you know vigorous debate votes. That are nothing compared to Internet bubble where you have a on. Sort of bridled and sediments. Where's that there is entry that is a very -- anybody -- these -- there's some real reasons like you think -- level -- what you mean -- well. I don't think in any real technology industry. Where there's product. There's and there's usually some patents involved people who. He prior experience in there and issues that do business. That you can have the same degree of -- but you could have certainly. Differences and union. To help."
" Of -- that I think it's if it's a fair question in the congressman's clean that is not like consumer Internet or software it's a really broad category. And so there's been a lot of investment activity solar so you -- or in his will for the solar bubble going on. That being said this'll marquis is going forward -- carrier -- has been things over the last ten years. And so there's arguments of both sides of that. I think generally receive as much if not more activities clean the response from being. A little blip on the there's been five years from now the number three category all of venture capital which is an amazing -- the last five years. The UC a Wal-Mart or surprised more venture investments it's a bit of virtuous cycle that regard and you're -- segmentation. So the but you micro bubbles thinking that with such a broad categories and these are clean tech as opposed it is about."
" Let's talk about some here purple in companies that mark and take it -- that ended solar power alternative vehicles. So -- If you get customers. Yeah -- bet that at."
" I've never had yet and in Italy. Densities. Can you want that are current. -- mr. -- Tuesday. Lauren -- vehicle opened India. Ray King got a bit more about that -- from the Catholic so I've. Also looked up and -- that there is revolution happened transportation analysts have been fuels side where it's happening on. In political I'm electric publishers -- you he's where we can focus there is innovation capital over transportation. -- focusing on a city vehicle effectively they're going after applications for people don't have long gone along this is. They are in places like London they're -- across Europe right now hustling to India so while the green card -- separate car for consumers it's easy to drive -- it was never go to gas station. And -- some participants in this really need most green products and consumer at this particular hit something it's either prices performances violent person does not of that. Right suspect these same price ranges I had forms vehicle its -- that are it's faster it's got totally unique feel to what promoters it's -- or anyway. I never the gas station. And so I think you're seeing a lot of division happening there along with a -- of components and systems and better technologies will prove the viability he's the broader marketplace. And so we think there's revolution happened auto thank -- for signature consumers more more. Previously -- vehicle drivers people who don't want a large car don't want you in twenty miles today."
" What about thin film solar there's news out this week about -- sellers. Solar panels going shipping. Taking orders a third call taking orders hurt he says he hear me and so. Kate how well that about Comerica and also question have you been passionate about the pace so thin film solar production."
" Raj we're sure happy new some investing -- With the belief in the truth still holds that this can be can be revolution so. Cable the print solar cells on plastic really hot but way -- could find themselves. Hundred meters from that which isn't made to prevent. And so the key for them -- the their production line and reliability. And cost for getting on the on the cost of them that we'll do that with production. So that you know look this that stuff is not easy and the challenges that name in solar or car or in some and welcome -- there. You're trying to -- that's that's really difficult and they're trying. -- him that break the news that's research racers had been not you know Linear growth and we -- functions these guys. It down to regular break through that gets them you know 2% 3% for improvements in performance which makes the market as of right after much there. The the application areas right now for thin film tend to be based on different factors. Very lightweight incredibly flexible so you building integrated it can be council on things it could be four -- products battery chargers. And not for the traditional. Module mounted. Belong from the technologies up hope for purple rose. And so my frustrated not think that's the pace of innovation just happens I think we are very bullish on that film the policies."
" What about solar installation -- solar city and feel that solar financing. What about that market that."
" huge opportunity that. You know I just had to look penalties for all of them number with our facility and as one of the largest distillers now in the US -- California. And growing rapidly in that they've tapped into news that the neighborhood for the social aspect. You know talking about your solar panel and having that is when -- In that leads to wonderful dynamic we're neighbors no other neighbors and the ones for its sales force them. The part the thinking be galvanizing for next year's going to be. That might -- coming -- financings this community no brainer for the consumer. Few sort of you know make a decision to say yes save me money Andy not pocket at all. Right now you get when subsidies to get lovely changing your billing rates. These militants and now this it's the right decision. For union energy exceptions there's. You know waste of plants that. You know -- propositions it is it is there was that there for the consumer really. Sort of bring Britain's decision."
" And -- most of retiring of -- silk commercial industrial applications. If you can Nancy that's been subpoenaed to trail which is you've got -- exposures then do you want to spend it on sort of wants another couple of products for business. In an awful that promote large commercial vote for customer and finance that through long term PTA illness comes in program. And so -- and source that are going after market in California Dakota is growing incredibly fast with fancy solution installations solution which is unique and different. And so we -- him fairly bullish on both counter -- those companies."
" Okay you're talking about and selling filling your home. Are there things eating your daily life can back up here green investments."
" You know excellently -- web report began with he -- I haven't needed it clumsily through any other thing about the news and murder it calculates. Hours. Get back that. -- You you've helped spent. My plan is do you have electric car running that so consuming and petrochemicals next year. -- vehicle at least. And I don't know whales tend to turn them that's one person that's more than the history yet."
" So bill if I've. That an old house of the cities and ended up transforming from matter -- inefficient burn to a highly for 90% efficient. Gas -- we've I've moved all my lighting 7% the -- for instance. Which she got better and better quality and they fit in terms of we're gonna put immense that's a no brainer for any consumer -- just makes most sense. But in terms also let you -- welcome to play and equality rulings got much better. And you can storm to existing balances just there's the -- how the rest of us and said. And then my daughters killed nearby Prius that's it that's that line. -- six and happy she keeps talking about it though."
" branding even particulates. On the place -- is two made going to be a big policy here and clean tech. What does venture capitalist machine mean -- what do you want from policy."
" Do no harm -- it with it but I think I'll ultimately the the current energy both on the table right now -- huge opportunities. Missed opportunities and the I'd seen it -- That changed his lust and change so can you explain that this obviously there's some tax credit for auction taxpayers to tax incentive schemes that really affects solar wind. And bottles that matter -- it -- really good job fuel -- they put in a large fuels mandate which was good. Partially for official up and all which is early in the lifetime and more so for those with long term. We should do pieces for for who's now the laws of using corn feed stocks. People's -- of the non renewable portfolio standards to Californians when he went for the State's renewable portfolio standards for things like solar wind. And news online have a national -- that just didn't make it for the bill. This current administration woods for either of those two with the it was a mess. They longer term I think we've got -- they were there will be an extension that I can see you can see for a longer period of time did just that when -- that computers that -- yet. That's important for large scale the points. You really have to visibly field can't these projects. It's I think there's a lot of mathematician. And indeed her remarks -- you've got. Both religious right higher service with the greens which you've never had before for moral reasons you've got fiscal conservatives. You know line with withdrew from Democrats do you think that's a big opportunity there were missing in the United States the group -- as an industry. Yeah alignment of interest right now that is driving through the screen tech. -- driver thesis that's been a piece of if you could sustain itself and doesn't does not matter what the administration's."
" Yeah I just think we don't. Try to -- the government doing anything in earnest and pieces so network companies that we. And then with the thought that if it weren't for some subsidy of government action we would have a business trip so we try to without the plate. That being said down the government is increasingly. Aware of the need to do things -- that yet. As -- any political process that is collected through current interest of the month when he went to corn ethanol courses just the travesty and a collection process and a complete waste. But what we can expect political pluses and the other stuff is good at home without them we. Particularly thank god we're not you know up lobbying and spending time open -- them what's."
" And like to thank you that's been on the show. And we'll be right back."
" I welcome back shown we want to think Easter eggs and there's an outlet and that's --"
" Yes of course he needs. He's a good sport but you know take you viewers for supporting us through 2007. And we'll be back next year. -- Hard not. We even have an interview with the CEO Mozilla and I would call. -- show for me. So today and have fun. Have a great New -- and you know hates -- Do you go home show."
" I would welcome to -- show I'm -- I -- the earth attack saying it comes clean tech news and."
" And I'm old you know me indicating it was tough. -- he's filling in for joys the game to lose in -- nine and I for the jets that I think you're doing a great job I think -- wanted to -- Joyce's game. -- you -- but they think Katie and I rent and interviewed you and and and considering. I. --"
" Welcome back. And you received everything and rise Adler. Partners and Draper Fisher enters -- So clean tech investing. DNJ led clean tech investment in 2007. According to some data eleven deals. I'm over forty -- So what's your strategy for clean tech investing has it is that your goal to be the -- and -- Them."
" Maybe a general collectively you. Something of substance it is our goal to be a leader in all there is an -- capital both globally and in the last. In that we've been for years most activist investor missed him most deals in time trying to find most of Kennedy's. And part of our long term strategies to identify new industries and opportunities early and that's actively in the so we did that in the mid ninety's at the Internet but nano technology -- energy -- well but specifically."
" This I don't know for their strategy we tend to want to be leaders in emerging categories from start investing in clean tech back in 2001. Have been more than most active investors all through a period of time. Lester was a very active here were were pretty brought our -- and think that we're we're in solar weren't convinced fuels -- energy efficiency -- optimization. To look at vehicle companies and some just been very very active and how we thought about the the category both the -- internationally."
" I'm whether any specific areas of clean tech that the company is going to focus on next year he more than this year."
" Most of an opportunist with -- the hard for -- to predict with any idea. Accuracy than a couple weeks ahead. Let's do what -- but let me get this acknowledges that I think we've been. Pretty broad and lot of categories ciller made four investments. And here we really like for two dozen -- energy efficiency. And so it's the easiest cheapest way to conserve energy and do with the with. Minimal expenditures and so we've got one empire -- of Republicans here which is optimizing. Peaceful -- sponsor and expect to see a lot more like the applications and energy space and for -- applications. In an -- we like as -- that includes all kinds of ways. -- could be -- feeds -- of the production process could be the stinky stuff coming from your agriculture. Others construction industries. That is these that reached generally we like I think if it's in well with the stones and the biology applications that."
" Sure yeah I think in 2000 it will see a lot more investment just by us in the industry at large. In biological solutions to dangerous problems -- It might be directly biological meaning plain algae bacteria are used to me -- fuel to convert waste stream to something viable. But more exactly can be prophecies so assembly can be ways to do infiltration better. And if you it sort of look at it from Ohio perspective nature has evolved. Inherently clean and green ways of doing things in the all around them but the success. To the way in which -- sugars and fuel to process but organisms -- we're just now learning how to harness those capabilities. For me. And nature tends not to waste a lot of energy tends not to get the plan that lack right it is obvious about it balance. In I think when lean more and more on those kinds of solutions for our fundamental and learn how to work with the planet has posted."
" Let me talk a little bit about synthetic gene comic and -- and here's -- controversial -- hotels."
" I think he drives and pushing the boundaries. So for those who don't know Craig venter is the person for sequence the human genome and unlock -- life for human beings since then the last few years. Studying the ocean microbes populations that exists you know notions for harvesting energy with processing chemicals. Using microbes as a workhorse. I believe that in 2008 he or team like his and succeeding in the first synthetic life former first artificially form a bacteria like organisms that's been built from the ground up Phoenix and the -- letter by letter. And this a -- screen capabilities to custom design microbes for energy applications the reason that the energy is. These organisms naturally process hydrocarbons they take carbon based compounds that manipulate them they harvest energy from them they change and other chemicals. And they are already chemical were horses all around us we're just now learning how to tweak them modify them get into of all the way we want to produce chemicals. Fuels and plastics and no large large array of products -- currently derived from hydrocarbons drug out of the ground with -- she -- that sugar with smaller. Or you -- author of the Los -- stocks to make everything. From simpler than all the little into the change although it to each day England Britain and -- and a they genomics is there any creative fuel that they've tested in two cycle engines and challenge -- great. An entirely different from violence and Dotson and do well when you think consumers will and it can't use and and -- That's -- question home for the consumer because there's so many interesting pre consumer and industrial applications in the for business reasons for reasons you start there. I believe the consumers won't know that they're consuming this to start it will be for example. You know you're getting more methane which natural gas running your pipes the prices coming down because of that it just doing it from Wales. You're converting it directly from coal and coal seams were injured resources that literally landed. As -- by Kathleen Copeland of summit on and you don't know where this came from the human -- you can with the prices of it's I think you'll see a hopefully that he lessening of these supplied that Patrick them the companies have. In pricing change before you really have branding around with atlases. You know like -- were honest with virgin oil hit a and economic. You know I think for branding reasons that might you know that the best product meaning."
" The -- if you yeah well that that can't be good for the that the you will of that and not before when the company's exit and -- take had you been surprised by this. Moms -- so -- me."
" Couple comments and I think if you think globally there have been a lot of distinctly second street between solar. Solar and biofuels and they've been comes -- cells Germany and while successful. Suntech plus the five others and in China wants successful. Gone from start up being one of the major spoilers are excellent models locally. -- on India's going from zero to be in number four manufacturer of wind turbines and went from systems amazing story. So globally there that they're clean they're focusing -- exits and the -- and competitor in the mark was commerce and some power here in the valley. That being said there have been a lot of an additional investment -- that in the past five years those computer into a point -- now. It could happen the open market that the next year you'll see more confusion over or it's a broader category. Technologies. And so we've sort of we've had you know could technology companies in solar in -- permanent one in public they don't really look or captive beaten much or acquisitive. And biofuels which is going up and -- and the -- seasons from the utility scale copies you know. Things like cold gas stations utility scale solar. As an example I think you'll see some more. Application areas and energy stores comes -- public. So conclusive growers segmentation of the victims -- we'll -- you know because Seymour."
" there's some data out this week that should be fees we're expecting more clean tech investing next year that the same time. That this -- be overvalued."
" There's only work that."
" Well not unlike an impression because it's just there's. There's always this mix of hope and fear. Any rapidly changing industry and so the simultaneously be those who think that are going to bubble and those who think the stock -- when you have these. Rapid shifts the you know vigorous debate votes. That are nothing compared to Internet bubble where you have a on. Sort of bridled and sediments. Where's that there is entry that is a very -- anybody -- these -- there's some real reasons like you think -- level -- what you mean -- well. I don't think in any real technology industry. Where there's product. There's and there's usually some patents involved people who. He prior experience in there and issues that do business. That you can have the same degree of -- but you could have certainly. Differences and union. To help."
" Of -- that I think it's if it's a fair question in the congressman's clean that is not like consumer Internet or software it's a really broad category. And so there's been a lot of investment activity solar so you -- or in his will for the solar bubble going on. That being said this'll marquis is going forward -- carrier -- has been things over the last ten years. And so there's arguments of both sides of that. I think generally receive as much if not more activities clean the response from being. A little blip on the there's been five years from now the number three category all of venture capital which is an amazing -- the last five years. The UC a Wal-Mart or surprised more venture investments it's a bit of virtuous cycle that regard and you're -- segmentation. So the but you micro bubbles thinking that with such a broad categories and these are clean tech as opposed it is about."
" Let's talk about some here purple in companies that mark and take it -- that ended solar power alternative vehicles. So -- If you get customers. Yeah -- bet that at."
" I've never had yet and in Italy. Densities. Can you want that are current. -- mr. -- Tuesday. Lauren -- vehicle opened India. Ray King got a bit more about that -- from the Catholic so I've. Also looked up and -- that there is revolution happened transportation analysts have been fuels side where it's happening on. In political I'm electric publishers -- you he's where we can focus there is innovation capital over transportation. -- focusing on a city vehicle effectively they're going after applications for people don't have long gone along this is. They are in places like London they're -- across Europe right now hustling to India so while the green card -- separate car for consumers it's easy to drive -- it was never go to gas station. And -- some participants in this really need most green products and consumer at this particular hit something it's either prices performances violent person does not of that. Right suspect these same price ranges I had forms vehicle its -- that are it's faster it's got totally unique feel to what promoters it's -- or anyway. I never the gas station. And so I think you're seeing a lot of division happening there along with a -- of components and systems and better technologies will prove the viability he's the broader marketplace. And so we think there's revolution happened auto thank -- for signature consumers more more. Previously -- vehicle drivers people who don't want a large car don't want you in twenty miles today."
" What about thin film solar there's news out this week about -- sellers. Solar panels going shipping. Taking orders a third call taking orders hurt he says he hear me and so. Kate how well that about Comerica and also question have you been passionate about the pace so thin film solar production."
" Raj we're sure happy new some investing -- With the belief in the truth still holds that this can be can be revolution so. Cable the print solar cells on plastic really hot but way -- could find themselves. Hundred meters from that which isn't made to prevent. And so the key for them -- the their production line and reliability. And cost for getting on the on the cost of them that we'll do that with production. So that you know look this that stuff is not easy and the challenges that name in solar or car or in some and welcome -- there. You're trying to -- that's that's really difficult and they're trying. -- him that break the news that's research racers had been not you know Linear growth and we -- functions these guys. It down to regular break through that gets them you know 2% 3% for improvements in performance which makes the market as of right after much there. The the application areas right now for thin film tend to be based on different factors. Very lightweight incredibly flexible so you building integrated it can be council on things it could be four -- products battery chargers. And not for the traditional. Module mounted. Belong from the technologies up hope for purple rose. And so my frustrated not think that's the pace of innovation just happens I think we are very bullish on that film the policies."
" What about solar installation -- solar city and feel that solar financing. What about that market that."
" huge opportunity that. You know I just had to look penalties for all of them number with our facility and as one of the largest distillers now in the US -- California. And growing rapidly in that they've tapped into news that the neighborhood for the social aspect. You know talking about your solar panel and having that is when -- In that leads to wonderful dynamic we're neighbors no other neighbors and the ones for its sales force them. The part the thinking be galvanizing for next year's going to be. That might -- coming -- financings this community no brainer for the consumer. Few sort of you know make a decision to say yes save me money Andy not pocket at all. Right now you get when subsidies to get lovely changing your billing rates. These militants and now this it's the right decision. For union energy exceptions there's. You know waste of plants that. You know -- propositions it is it is there was that there for the consumer really. Sort of bring Britain's decision."
" And -- most of retiring of -- silk commercial industrial applications. If you can Nancy that's been subpoenaed to trail which is you've got -- exposures then do you want to spend it on sort of wants another couple of products for business. In an awful that promote large commercial vote for customer and finance that through long term PTA illness comes in program. And so -- and source that are going after market in California Dakota is growing incredibly fast with fancy solution installations solution which is unique and different. And so we -- him fairly bullish on both counter -- those companies."
" Okay you're talking about and selling filling your home. Are there things eating your daily life can back up here green investments."
" You know excellently -- web report began with he -- I haven't needed it clumsily through any other thing about the news and murder it calculates. Hours. Get back that. -- You you've helped spent. My plan is do you have electric car running that so consuming and petrochemicals next year. -- vehicle at least. And I don't know whales tend to turn them that's one person that's more than the history yet."
" So bill if I've. That an old house of the cities and ended up transforming from matter -- inefficient burn to a highly for 90% efficient. Gas -- we've I've moved all my lighting 7% the -- for instance. Which she got better and better quality and they fit in terms of we're gonna put immense that's a no brainer for any consumer -- just makes most sense. But in terms also let you -- welcome to play and equality rulings got much better. And you can storm to existing balances just there's the -- how the rest of us and said. And then my daughters killed nearby Prius that's it that's that line. -- six and happy she keeps talking about it though."
" branding even particulates. On the place -- is two made going to be a big policy here and clean tech. What does venture capitalist machine mean -- what do you want from policy."
" Do no harm -- it with it but I think I'll ultimately the the current energy both on the table right now -- huge opportunities. Missed opportunities and the I'd seen it -- That changed his lust and change so can you explain that this obviously there's some tax credit for auction taxpayers to tax incentive schemes that really affects solar wind. And bottles that matter -- it -- really good job fuel -- they put in a large fuels mandate which was good. Partially for official up and all which is early in the lifetime and more so for those with long term. We should do pieces for for who's now the laws of using corn feed stocks. People's -- of the non renewable portfolio standards to Californians when he went for the State's renewable portfolio standards for things like solar wind. And news online have a national -- that just didn't make it for the bill. This current administration woods for either of those two with the it was a mess. They longer term I think we've got -- they were there will be an extension that I can see you can see for a longer period of time did just that when -- that computers that -- yet. That's important for large scale the points. You really have to visibly field can't these projects. It's I think there's a lot of mathematician. And indeed her remarks -- you've got. Both religious right higher service with the greens which you've never had before for moral reasons you've got fiscal conservatives. You know line with withdrew from Democrats do you think that's a big opportunity there were missing in the United States the group -- as an industry. Yeah alignment of interest right now that is driving through the screen tech. -- driver thesis that's been a piece of if you could sustain itself and doesn't does not matter what the administration's."
" Yeah I just think we don't. Try to -- the government doing anything in earnest and pieces so network companies that we. And then with the thought that if it weren't for some subsidy of government action we would have a business trip so we try to without the plate. That being said down the government is increasingly. Aware of the need to do things -- that yet. As -- any political process that is collected through current interest of the month when he went to corn ethanol courses just the travesty and a collection process and a complete waste. But what we can expect political pluses and the other stuff is good at home without them we. Particularly thank god we're not you know up lobbying and spending time open -- them what's."
" And like to thank you that's been on the show. And we'll be right back."
" I welcome back shown we want to think Easter eggs and there's an outlet and that's --"
" Yes of course he needs. He's a good sport but you know take you viewers for supporting us through 2007. And we'll be back next year. -- Hard not. We even have an interview with the CEO Mozilla and I would call. -- show for me. So today and have fun. Have a great New -- and you know hates -- Do you go home show."




