cleantech finance, venture capital & green investment

10
CleanTech Finance, Venture Capital & Green Investment Bob O’Connor Wilson Sonsini Goodrich Rosati

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Page 1: CleanTech Finance, Venture Capital & Green Investment

CleanTech Finance, Venture Capital & Green Investment

Bob O’ConnorWilson Sonsini Goodrich Rosati

Page 2: CleanTech Finance, Venture Capital & Green Investment

2

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

Page 3: CleanTech Finance, Venture Capital & Green Investment

3

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

Page 4: CleanTech Finance, Venture Capital & Green Investment

4

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

Page 5: CleanTech Finance, Venture Capital & Green Investment

5

A Branding Challenge

Solexyl

SolBeam

Page 6: CleanTech Finance, Venture Capital & Green Investment

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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.

Page 7: CleanTech Finance, Venture Capital & Green Investment

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California Leads the Way

Page 8: CleanTech Finance, Venture Capital & Green Investment

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The Anatomy of CleanTech Enterprises

CleanTech Enterprise

FinancialCapitalIntellectual

CapitalHumanCapital

“Political” Capital

•RPSs•Carbon Offsets•RECs•White Tags•ITCs•PTCs•MACRs

Page 9: CleanTech Finance, Venture Capital & Green Investment

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California’s Political Leadership Global Warming Solutions Act of 2006 (AB 32) GHG emissions reduced to 1990 levels by 2020