Status: U Return-Path: Received: from whmx-joyous.pas.sa.earthlink.net ([127.0.0.1]) by whmx-joyous.pas.sa.earthlink.net (EarthLink SMTP Server) with SMTP id 1mVhx97LW3NZFmD0; Tue, 6 Oct 2009 14:25:23 -0700 (PDT) Received: from dukecmmtar03.coxmail.com ([68.99.120.44]) by whmx-joyous.pas.sa.earthlink.net (EarthLink SMTP Server) with ESMTP id 1mVhx96Cs3NZFmD0 for ; Tue, 6 Oct 2009 14:25:23 -0700 (PDT) Received: from dukecmimpo03.coxmail.com ([68.99.120.137]) by dukecmmtar03.coxmail.com (InterMail vM.7.05.02.00 201-2174-114-20060621) with ESMTP id <20091006210508.OUQX29515.dukecmmtar03.coxmail.com@dukecmimpo03.coxmail.com> for ; Tue, 6 Oct 2009 17:05:08 -0400 Received: from merilee07cf8a9 ([68.15.13.44]) by dukecmimpo03.coxmail.com with bizsmtp id pZRN1c0010x1YcL01ZRNJe; Tue, 06 Oct 2009 17:25:22 -0400 Message-ID: <02AA854C92BF4100905BFA74D52D9D4D@merilee07cf8a9> Reply-To: "Merilee:::Kern Communications" From: "Merilee:::Kern Communications" To: Subject: FA Green placement Date: Tue, 6 Oct 2009 14:25:26 -0700 Organization: Kern Communications MIME-Version: 1.0 Content-Type: multipart/related; type="multipart/alternative"; boundary="----=_NextPart_000_1437_01CA4690.D94D30B0" X-Priority: 3 X-MSMail-Priority: Normal X-Mailer: Microsoft Outlook Express 6.00.2900.5843 X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2900.5579 X-ELNK-AV: 0 X-ELNK-Info: sbv=0; sbrc=.0; sbf=00; sbw=000; This is a multi-part message in MIME format. ------=_NextPart_000_1437_01CA4690.D94D30B0 Content-Type: multipart/alternative; boundary="----=_NextPart_001_1438_01CA4690.D94D30B0" ------=_NextPart_001_1438_01CA4690.D94D30B0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable http://www.fa-mag.com/green/news/4528-emerging-plays-in-the-smart-grid-.h= tml -------------------------------------------------------------------------= ------- October 06, 2009 =20 Emerging Plays In The Smart Grid =20 Companies ranging from global blue chips to start-ups awaiting = IPOs are gearing up to participate in the so-called "smart grid," which = offers potential for both financial advisors and investors with a = stomach for risk and a desire for alternative investments.=20 The smart grid is actually a nickname for applications that use = digital technology to deliver electricity from suppliers to consumers in = ways that save energy, reduce costs and increase reliability and = transparency. Some governments believe such a modernized electricity = network will increase energy independence and limit climate change.The = Obama administration earmarked some $4.5 billion in smart-grid funding = for utilities in its $787-billion stimulus package.=20 Many existing transmission systems in the United States and Europe = are antiquated and can't handle the increased delivery demands placed on = them. The smart grid would not only make delivering electricity more = efficient, but it would also help consumers manage their usage better, = says Dan Delurey, executive director of the Demand Response and Smart = Grid Coalition (DRSG), a trade association. With the smart grid," says = Delurey, "you're basically putting in controls, sensors and management = systems that have simply not been there before. You're putting = technology which exists in other industry segments into the electricity = system."=20 So what are the smart plays for investors? Most public utilities = may not be the best answer. According to Maurice E. May, a utilities = analyst at Soleil Securities in New York, utilities' smart-grid projects = are a relatively minor part of their operations. For most utilities, = their cost of debt will be lower if they get some of the government = stimulus money for smart-grid projects, but those lower costs will = benefit ratepayers more than shareholders, he says. One utility May does = like is Pepco Holdings (POM), a Washington, D.C.-based utility that he = says has been driving smart-grid investments in Maryland; Washington, = D.C.; and the Delaware area.=20 For advisors, a better way to invest may be in a highly visible, = nonregulated public company. Three large firms in the space-Siemens AG, = General Electric Co. and Cisco Systems-are pushing heavily into the = smart-grid market, expected to jump nearly three-fold in value, to = approximately $43 billion, over the next several years, according to a = recent Wall Street Journal report. Giant companies IBM, Google and = Oracle also developing smart-grid technology. Siemens, a German = industrial conglomerate, according to the Journal, wants to achieve the = equivalent of more than $8.55 billion in orders related to intelligent = power grids by 2014. The orders are coming mostly from utilities and = other companies that are in turn subsidized if they invest in the = technology=20 A potentially more lucrative-but riskier-approach may be to invest = in a smaller venture-capital firm. Venture capital experts say a wave of = smart-grid IPOs is expected soon, and it has the potential to provide = strong upside returns for patient investors.=20 Lyle Deitch, a principal at 21 Ventures (www.21ventures.net), a = New York-based VC firm that has invested in the industry, recommends = advisors consider privately held smart-grid companies that do not solely = rely on utilities for business. "Many smart-grid plays tend to have a = dangerous reliance on cooperation from local utilities, whose pace of = progress can be dangerously slow and threaten even the most conservative = projections," says Deitch.=20 One possible VC play, Silver Spring Networks, Redmond, Calif., = announced that it will soon be profitable on expected revenues of $200 = million this year. Another is commercial and residential energy = management software provider Advanced Telemetry, San Diego, Calif.=20 Gus Ezcurra, CEO of Advanced Telemetry, says its "EcoView" energy = management system reduces users' energy consumption, with utility-bill = savings of 20% or more per month. GE recently licensed Advanced = Telemetry's technology. Advanced Telemetry has rapidly growing revenue = and installations, yet does not solely rely on utilities to provide = their service, says Deitch, who has invested in the firm. "Many = smart-grid-related companies have not been as fortunate, and are seeking = private capital at much reduced valuations from previous rounds," he = says.=20 Other possible plays include firms such as Aclara, Ambient, Bridge = Energy Group, Direct Energy, EnergySolve, LG Electronics and Tendril, to = name a few. When considering a VC type investment, look for a good management = team, a defensible technology and growing sales, Deitch advises. "Just = because a company cannot raise money from its prior backers does not = mean it is inherently flawed. Venture capital firms are undertaking = triage on their portfolios and many are only investing in their most = mature companies to speed possible exits." Bruce W. Fraser is a New York-based freelance financial writer who = contributes frequently to Financial Advisor magazine. He can be reached = by email, frasernyc@aol.com. Visit him at www.bwfraser.com/home. =20 ------=_NextPart_001_1438_01CA4690.D94D30B0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
http://www.fa-mag.com/green/news/4528-emerging-plays-in-the-= smart-grid-.html
 
October 06, 2009 =
Emerging=20 Plays In The Smart Grid =

Companies ranging from global blue chips to start-ups awaiting = IPOs are=20 gearing up to participate in the so-called =93smart grid,=94 which = offers=20 potential for both financial advisors and investors with a stomach = for=20 risk and a desire for alternative investments.

The smart grid is actually a nickname for applications that use = digital=20 technology to deliver electricity from suppliers to consumers in = ways that=20 save energy, reduce costs and increase reliability and = transparency. Some=20 governments believe such a modernized electricity network will = increase=20 energy independence and limit climate change.The Obama = administration=20 earmarked some $4.5 billion in smart-grid funding for utilities in = its=20 $787-billion stimulus package.

Many existing transmission systems in the United States and = Europe are=20 antiquated and can=92t handle the increased delivery demands = placed on them.=20 The smart grid would not only make delivering electricity more = efficient,=20 but it would also help consumers manage their usage better, says = Dan=20 Delurey, executive director of the Demand Response and Smart Grid=20 Coalition (DRSG), a trade association. With the smart grid,=94 = says Delurey,=20 =93you=92re basically putting in controls, sensors and management = systems that=20 have simply not been there before. You=92re putting technology = which exists=20 in other industry segments into the electricity system.=94

So what are the smart plays for investors? Most public = utilities may=20 not be the best answer. According to Maurice E. May, a utilities = analyst=20 at Soleil Securities in New York, utilities=92 smart-grid projects = are a=20 relatively minor part of their operations. For most utilities, = their cost=20 of debt will be lower if they get some of the government stimulus = money=20 for smart-grid projects, but those lower costs will benefit = ratepayers=20 more than shareholders, he says. One utility May does like is = Pepco=20 Holdings (POM), a Washington, D.C.=96based utility that he says = has been=20 driving smart-grid investments in Maryland; Washington, D.C.; and = the=20 Delaware area.

For advisors, a better way to invest may be in a highly = visible,=20 nonregulated public company. Three large firms in the = space=97Siemens AG,=20 General Electric Co. and Cisco Systems=97are pushing heavily into = the=20 smart-grid market, expected to jump nearly three-fold in value, to = approximately $43 billion, over the next several years, according = to a=20 recent Wall Street Journal report. Giant companies IBM, = Google=20 and Oracle also developing smart-grid technology. Siemens, a = German=20 industrial conglomerate, according to the Journal, wants = to=20 achieve the equivalent of more than $8.55 billion in orders = related to=20 intelligent power grids by 2014. The orders are coming mostly from = utilities and other companies that are in turn subsidized if they = invest=20 in the technology

A potentially more lucrative=97but riskier=97approach may be to = invest in a=20 smaller venture-capital firm. Venture capital experts say a wave = of=20 smart-grid IPOs is expected soon, and it has the potential to = provide=20 strong upside returns for patient investors.

Lyle Deitch, a principal at 21 Ventures (www.21ventures.net), a = New=20 York-based VC firm that has invested in the industry, recommends = advisors=20 consider privately held smart-grid companies that do not solely = rely on=20 utilities for business. =93Many smart-grid plays tend to have a = dangerous=20 reliance on cooperation from local utilities, whose pace of = progress can=20 be dangerously slow and threaten even the most conservative = projections,=94=20 says Deitch.

One possible VC play, Silver Spring Networks, Redmond, Calif.,=20 announced that it will soon be profitable on expected revenues of = $200=20 million this year. Another is commercial and residential energy = management=20 software provider Advanced Telemetry, San Diego, Calif.

Gus Ezcurra, CEO of Advanced Telemetry, says its =93EcoView=94 = energy=20 management system reduces users=92 energy consumption, with = utility-bill=20 savings of 20% or more per month. GE recently licensed Advanced=20 Telemetry=92s technology. Advanced Telemetry has rapidly growing = revenue and=20 installations, yet does not solely rely on utilities to provide = their=20 service, says Deitch, who has invested in the firm. =93Many=20 smart-grid-related companies have not been as fortunate, and are = seeking=20 private capital at much reduced valuations from previous = rounds,=94 he says.=20

Other possible plays include firms such as Aclara, Ambient, = Bridge=20 Energy Group, Direct Energy, EnergySolve, LG Electronics and = Tendril, to=20 name a few.

When considering a VC type investment, look for = a good=20 management team, a defensible technology and growing sales, Deitch = advises. =93Just because a company cannot raise money from its = prior backers=20 does not mean it is inherently flawed. Venture capital firms are=20 undertaking triage on their portfolios and many are only investing = in=20 their most mature companies to speed possible = exits.=94

Bruce W.=20 Fraser is a New York-based freelance financial writer who = contributes=20 frequently to Financial Advisor magazine. He can be reached by = email,=20 frasernyc@aol.com. Visit him at=20 www.bwfraser.com/home.

 
 
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