cleantech finance, venture capital & green investment
TRANSCRIPT
CleanTech Finance, Venture Capital & Green Investment
Bob O’ConnorWilson Sonsini Goodrich Rosati
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Our History
Initial Public OfferingAugust 19, 2004
$1.7 billion
Acquired byAmerica OnlineMarch 17, 1999
$4.3 billion
Initial Public OfferingDecember 1, 1980
$101.2 million
Acquired byYahoo!
October 7, 2003
$1.8 billion
IncorporatedCypress in 1981
PersonalComputingRevolution
SemiconductorRevolution
Information ServicesRevolution
InternetRevolution
Initial Public OfferingAugust 8, 1995
$140 million
1981-19831980 1995-1999 2003-2004
Initial Public OfferingMay 13, 1983
$147 million
Clean TechnologyRevolution
2005-
Initial Public OfferingNovember 17, 2005
Counsel forCypress Semiconductor
$138.6 million
Joint Venture withQ-Cells AG
January 14, 2005$75 million
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A Holistic Approach to “CleanTech”
Commitmentto Cause
IntegratedEfficient Team
Industry ThoughtLeaders
BusinessUnderstanding
Scalability
Holistic Client FocusAcross All Practices
M&A
Tax
InputArrangements
PermittingEnvironmental
VentureCapital
CapitalMarkets
OfftakeArrangements
IntellectualProperty
TechnologyTransactions
CorporateGovernance
ProjectFinance
State &Federal
Regulatory
Clean Technology
RenewableEnergy &BiofuelsProjectFinance
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Our Climate Change and Sustainability Practice
PermittingEnvironmental
OfftakeArrangements
ProjectFinance
State &Federal
Regulatory
WSGR Climate Change Practice• Legal and operational issues with carbon offset and energy efficiency credit transactions
• Analysis and evaluation of REC and carbon offset purchase agreements on project financetransactions
• Compliance with state, federal, and regional greenhouse gas legislation and voluntary markets
• Corporate governance counseling relating to climate change and sustainability initiatives
• Counseling with respect to the development markets and sale of products and services into GHG-regulated industries
• Counseling with respect to the implementation of corporate green initiatives
M&A Tax
CapitalMarkets
IntellectualProperty
TechnologyTransactions
VentureCapital
RenewableEnergy &ProjectFinance
SupplyArrangementsClean
Technology
CorporateGovernance
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A Branding Challenge
Solexyl
SolBeam
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Capital Is Pouring into Clean EnergyAccording to New Energy Finance, newglobal investment in all clean-energy sectorssoared to $148.4 billion in 2007, up 60% from$92.6 billion tracked in 2006.
Venture investments in the U.S.clean-energy sector increased 60%from 2006 to 2007.
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California Leads the Way
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The Anatomy of CleanTech Enterprises
CleanTech Enterprise
FinancialCapitalIntellectual
CapitalHumanCapital
“Political” Capital
•RPSs•Carbon Offsets•RECs•White Tags•ITCs•PTCs•MACRs
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California’s Political Leadership Global Warming Solutions Act of 2006 (AB 32) GHG emissions reduced to 1990 levels by 2020