Clean energy sector a 'silver lining' in current economy
NREL Industry Growth Forum Nov. 3-5 to showcase emerging companies
Despite a challenging economy where most industry sectors have reduced their workforce, one industry in Colorado's economy is bucking that trend - the clean energy sector.
Major expansions by clean energy companies such as Vestas Wind Systems, SMA Solar Technology AG, Ascent Solar, Abound Solar, and many others are fueling Colorado's New Energy Economy growth, an economic development platform driven by Colorado Governor Bill Ritter.
"Over the past few years, we've established a clean-energy template that is creating thousands of new jobs, reducing our dependence on foreign oil, and generating innovative technologies for the future," said Gov. Ritter. "The New Energy Economy in Colorado can serve as a pathway for all of America that will lead to greater economic, energy, and environmental security."
According to a 2009 report by The Pew Charitable Trusts, jobs in Colorado's clean energy sector grew more than twice as fast as overall jobs during 1998-2007. In addition to new job creation, growth in the state's clean energy sector brought in more than $600 million in private capital investment to Colorado during 2006-2008. And, for every $100 million in venture capital invested in the clean energy sector, 2,700 direct new jobs are created.
Companies in this emerging sector will take center stage at the National Renewable Energy Laboratory's (NREL) 22nd Industry Growth Forum, one of the nation's premier clean energy investment forums, November 3-5, 2009 at the Grand Hyatt Denver.
The Forum received a record number of applications with the highest number of companies selected to present from California (10) and Colorado (7), respectively. A total of 34 clean energy entrepreneurs will pitch their business case to an expert investor panel, competing to win the 2009 NREL-Deutsche Bank Climate Change Advisors Venture Awards totaling over $30,000 in cash and in-kind commercialization support from NREL. More than $2.5 billion has been raised by companies presenting at the forum since 2003.
Area companies presenting at the 22nd Annual NREL Industry Growth Forum:
"The clean energy industry is clearly a winner for the Colorado economy, a 'silver lining' in what has been a challenging economic cycle," explained Tom Clark, executive vice president of the Metro Denver Economic Development Corporation, a sponsor of the NREL Industry Growth Forum. "Recent company announcements in clean energy are literally filling our job pipeline and expanding our economy. Plus with the creation of the Colorado Cleantech Industry Association, we definitely have a unique set of assets to further expand this industry."
On Thursday, Nov. 5, NREL will introduce a new program called the NREL Opportunity Forum showcasing the latest clean energy opportunities in Colorado and across the country. Governor Ritter will kick off the day with his vision of the New Energy Economy, followed by an overview of major clean energy funding opportunities. The agenda will also include networking time for private one-on-one meetings and organized "speed networking" with over 60 policymakers and industry experts.
Hosting this prestigious conference in Colorado for the third year in a row is also a big "coup" according to Clark. "In addition to the seven Colorado companies presenting, there are several other presenting companies with ties to NREL," he explained. "Bringing top venture capital investors to see first-hand our innovative companies plus the partnerships happening with NREL and our research universities illustrates our high entrepreneurial pulse and positions the state as the center for clean energy growth both nationally and internationally."
More information and conference registration details for the 22nd NREL Industry Growth Forum are available at: www.cleanenergyforum.com
NREL is the U.S. Department of Energy's (DOE) primary national laboratory for renewable energy and energy efficiency research and development. NREL is operated for DOE by The Alliance for Sustainable Energy, LLC.