This week, the Greentown Labs community is full of excitement over the recent acquisition of Open Water Power Inc., one of our member companies! In other news, funding for cleantech incubators is growing, especially in the Greater Boston area. California is having a remarkable month in terms of renewable energy production, while the UK is getting incredible production from the largest offshore wind farm in the world. Experts also made promising predictions about the potential for increased solar power and a new technology could help them come true.

What news did you been reading last week? Share with us @GreentownLabs!

L3– L3 Acquires Open Water Power, Inc.

• Today, Open Water Power formally announced its acquisition by L3 Technologies. L3 is a world leader in a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms. Open Water Power will operate under L3’s Sensor Systems business segments. We are so proud of Open Water Power, please join us in congratulating them on this amazing news! (We’re also excited they’ll continue as members of our community. ???? ) 

“The acquisition of Open Water Power aligns with L3’s disciplined growth strategy by adding an important new technology to our portfolio in the growing UUV market.” 

Greentech Media– The Rise of Corporate-Funded Cleantech Incubators

• Cleantech incubators are expanding in number and funding across the nation, thanks to interest from major corporations. For years, large companies have been seeking ways to connect with startup executives and gain access to their innovations. Incubators serve as a platform to stay competitive in emerging industries. While direct return on investment is important, access to innovation is the number one priority. 

“Over the last six to 12 months, we’ve seen a very strong uptick in corporate interest in this work. It’s been pretty noticeable.”

Boston Business Journal– Boston’s clean tech cluster is third strongest in the country, says report

• A new study reveals that the Greater Boston area is one of the most attractive places in the country for startups looking to secure venture capital funding. The Brookings Institute rated the area third in the US in terms of dollars invested. The region secured over $2.5 billion of capital from 2011-2016, accounting for 9% of the nations total. 

“The emergence of these newer types of models in the financial industry—with their longer time horizon, incentive structures, and mission-based investment strategies — highlight their potential to offer a steady stream of committed investment capital to the cleantech sector.”

Futurism– California Grid Smashes Record, Gets 67% of Energy From Renewables

• California is having a successful month in regards to clean energy, shattering several production records. Since May 1st, the state has generated 67% of its electricity from renewable sources. Additionally, California broke the record for most wind energy produced (4,985 megawatts) by May 16th. Experts predict the best is yet to come, with new records expected to be set throughout the year.

“The fact that the grid can handle 67 percent renewable power from multiple sources — it’s a great moment, and it shows the potential we have.”

Independent– The world’s biggest wind turbines will help UK power 230,000 homes

• A wind farm in the UK, hosting the world’s most powerful offshore wind turbines, will be able to generate electricity for over 200,000 homes. The turbines are able to power a single home for over 29 hours with just one rotation. All the components of the 32 turbines were produced locally in the UK.

“Pushing innovation in this way reduces the cost of electricity from offshore wind and will help to advance the offshore wind industry across the world.”

NREL– Experts Outline Pathway for Generating Up to Ten Terawatts of Power from Sunlight by 2030

• The potential for solar power generation far exceeds the amount of electricity used every year. In a recent gathering of energy experts, The Global Alliance of Solar Energy agreed that solar production could exceed ten-terawatts over the next decade. The group also identified several key roadblocks to production and proposed solutions to meet their high expectations. 

“Reaching that figure should be achievable through continued technology improvements and cost decreases, as well as the continuation of incentive programs to defray upfront costs of PV systems.”

CleanTechnia– Researchers At Australia’s University Of Newcastle Testing Printed Solar Panels

• Researchers in Australia have officially begun testing of printed solar panels. Developers use a special electric ink which is printed onto clear laminated sheets. The sheets are then applied to surfaces using a velcro-like material. One of the major benefits of the technology is its flexibility and ability to be easily transported and installed. 

“No other renewable energy solution can be manufactured as quickly. On our lab-scale printer we can easily produce hundreds of meters of material per day.”