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News Article | August 29, 2016
Site: http://www.ogj.com

EnVen Energy Ventures LLC, an affiliate of Houston-based EnVen Energy Corp., has agreed to acquire 100% of the record title interest in Gulf of Mexico Green Canyon Blocks 114, 158, 202, and 248 from Shell Offshore Inc., an affiliate of Royal Dutch Shell PLC, for $425 million in cash.


News Article | September 8, 2016
Site: http://www.rdmag.com/rss-feeds/all/rss.xml/all

Devices called ultracapacitors have recently become attractive forms of energy storage: They recharge in seconds, have very long lifespans, work with close to 100 percent efficiency, and are much lighter and less volatile than batteries. But they suffer from low energy-storage capacity and other drawbacks, meaning they mostly serve as backup power sources for things like electric cars, renewable energy technologies, and consumer devices. But MIT spinout FastCAP Systems is developing ultracapacitors, and ultracapacitor-based systems, that offer greater energy density and other advancements. This technology has opened up new uses for the devices across a wide range of industries, including some that operate in extreme environments. Based on MIT research, FastCAP's ultracapacitors store up to 10 times the energy and achieve 10 times the power density of commercial counterparts. They're also the only commercial ultracapacitors capable of withstanding temperatures reaching as high as 300 degrees Celsius and as low as minus 110 C, allowing them to endure conditions found in drilling wells and outer space. Most recently, the company developed a AA-battery-sized ultracapacitor with the perks of its bigger models, so clients can put the devices in places where ultracapacitors couldn't fit before. Founded in 2008, FastCAP has already taken its technology to the oil and gas industry, and now has its sights set on aerospace and defense and, ultimately, electric, hybrid, and even fuel-cell vehicles. "In our long-term product market, we hope that we can make an impact on transportation, for increased energy efficiency," says co-founder John Cooley PhD '11, who is now president and chief technology officer of FastCAP. FastCAP's co-founders and technology co-inventors are MIT alumnus Riccardo Signorelli PhD '09 and Joel Schindall, the Bernard Gordon Professor of the Practice in the Department of Electrical Engineering and Computer Science. Ultracapacitors use electric fields to move ions to and from the surfaces of positive and negative electrode plates, which are usually coated with a porous material called activated carbon. Ions cling to the electrodes and let go quickly, allowing for quick cycling, but the small surface area limits the number of ions that cling, restrictingenergy storage. Traditional ultracapacitors can, for instance, hold about 5 percent of the energy that lithium ion batteries of the same size can. In the late 2000s, the FastCAP founding team had a breakthrough: They discovered that a tightly packed array of carbon nanotubes vertically aligned on the electrode provided much more surface area. The array was also uniform, whereas the porous material was irregular and difficult for ions to move in and out of. "A way to look at it is the industry standard looks like nanoscopic sponge, and the vertically aligned nanotube arrays look like a nanoscopic hairbrush" that provides the ions more efficient access to the electrode surface, Cooley says. With funding from the Ford-MIT Alliance and MIT Energy Initiative, the researchers built a fingernail-sized prototype that stored twice the energy and delivered seven to 15 times more power than traditional ultracapacitors. In 2008, the three researchers launched FastCAP, and Cooley and Signorelli brought the business idea to Course 15.366 (Energy Ventures), where they designed a three-step approach to a market. The idea was to first focus on building a product for an early market: oil and gas. Once they gained momentum, they'd focus on two additional markets, which turned out to be aerospace and defense, and then automotive and stationary storage, such as server farms and grids. "One of the paradigms of Energy Ventures was that steppingstone approach that helped the company succeed," Cooley says. FastCAP then earned a finalist spot in the 2009 MIT Clean Energy Prize (CEP), which came with some additional perks. "The value there was in the diligence effort we did on the business plan, and in the marketing effect that it had on the company," Cooley says. Based on their CEP business plan, that year FastCAP won a $5 million U.S. Department of Energy (DOE) Advanced Research Projects Agency-Energy grant to design ultracapacitors for its target markets in automotive and stationary storage. FastCAP also earned a 2012 DOE Geothermal Technologies Program grant to develop very high-temperature energy storage for geothermal well drilling, where temperatures far exceed what available energy-storage devices can tolerate. Still under development, these ultracapacitors have proven to perform from minus 5 C to over 250 C. Over the years, FastCAP made several innovations that have helped the ultracapacitors survive in the harsh conditions. In 2012, FastCAP designed its first-generation product, for the oil and gas market: a high-temperature ultracapacitor that could withstand temperatures of 150 C and posed no risk of explosion when crushed or damaged. "That was an interesting market for us, because it's a very harsh environment with [tough] engineering challenges, but it was a high-margin, low-volume first-entry market," Cooley says. "We learned a lot there." In 2014, FastCAP deployed its first commercial product. The Ulysses Power System is an ultracapacitor-powered telemetry device, a long antenna-like system that communicates with drilling equipment. This replaces the battery-powered systems that are volatile and less efficient. It also amplifies the device's signal strength by 10 times, meaning it can be sent thousands of feet underground and through subsurface formations that were never thought penetrable in this way before. After a few more years of research and development, the company is now ready to break into aerospace and defense. In 2015, FastCAP completed two grant programs with NASA to design ultracapacitors for deep space missions (involving very low temperatures) and for Venus missions (involving very high temperatures). In May 2016, FastCAP continued its relationship with NASA to design an ultracapacitor-powered module for components on planetary balloons, which float to the edge of Earth's atmosphere to observe comets. The company is also developing an ultracapacitor-based energy-storage system to increase the performance of the miniature satellites known as CubeSats. There are other aerospace applications too, Cooley says: "There are actuators systems for stage separation devices in launch vehicles, and other things in satellites and spacecraft systems, where onboard systems require high power and the usual power source can't handle that." A longtime goal has been to bring ultracapacitors to electric and hybrid vehicles, providing high-power capabilities for stop-start and engine starting, torque assist, and longer battery life. In March, FastCAP penned a deal with electric-vehicle manufacturer Mullen Technologies. The idea is to use the ultracapacitors to augment the batteries in the drivetrain, drastically improving the range and performance of the vehicles. Based on their wide temperature capabilities, FastCAP's ultracapacitors could be placed under the hood, or in various places in the vehicle's frame, where they were never located before and could last longer than traditional ultracapacitors. The devices could also be an enabling component in fuel-cell vehicles, which convert chemical energy from hydrogen gas into electricity that is then stored in a battery. These zero-emissions vehicles have difficulty handling surges of power—and that's where FastCAP's ultracapacitors can come in, Cooley says. "The ultracapacitors can sort of take ownership of the power and variations of power demanded by the load that the fuel cell is not good at handling," Cooley says. "People can get the range they want for a fuel-cell vehicle that they're anxious about with battery-powered electric vehicles. So there are a lot of good things we are enabling by providing the right ultracapacitor technology to the right application."


News Article | September 12, 2016
Site: http://www.scientificcomputing.com/rss-feeds/all/rss.xml/all

Devices called ultracapacitors have recently become attractive forms of energy storage: They recharge in seconds, have very long lifespans, work with close to 100 percent efficiency, and are much lighter and less volatile than batteries. But they suffer from low energy-storage capacity and other drawbacks, meaning they mostly serve as backup power sources for things like electric cars, renewable energy technologies, and consumer devices. But MIT spinout FastCAP Systems is developing ultracapacitors, and ultracapacitor-based systems, that offer greater energy density and other advancements. This technology has opened up new uses for the devices across a wide range of industries, including some that operate in extreme environments. Based on MIT research, FastCAP’s ultracapacitors store up to 10 times the energy and achieve 10 times the power density of commercial counterparts. They’re also the only commercial ultracapacitors capable of withstanding temperatures reaching as high as 300 degrees Celsius and as low as minus 110 C, allowing them to endure conditions found in drilling wells and outer space. Most recently, the company developed a AA-battery-sized ultracapacitor with the perks of its bigger models, so clients can put the devices in places where ultracapacitors couldn’t fit before. Founded in 2008, FastCAP has already taken its technology to the oil and gas industry, and now has its sights set on aerospace and defense and, ultimately, electric, hybrid, and even fuel-cell vehicles. “In our long-term product market, we hope that we can make an impact on transportation, for increased energy efficiency,” says co-founder John Cooley PhD ’11, who is now president and chief technology officer of FastCAP. FastCAP’s co-founders and technology co-inventors are MIT alumnus Riccardo Signorelli PhD ’09 and Joel Schindall, the Bernard Gordon Professor of the Practice in the Department of Electrical Engineering and Computer Science. Ultracapacitors use electric fields to move ions to and from the surfaces of positive and negative electrode plates, which are usually coated with a porous material called activated carbon. Ions cling to the electrodes and let go quickly, allowing for quick cycling, but the small surface area limits the number of ions that cling, restricting energy storage. Traditional ultracapacitors can, for instance, hold about 5 percent of the energy that lithium ion batteries of the same size can. In the late 2000s, the FastCAP founding team had a breakthrough: They discovered that a tightly packed array of carbon nanotubes vertically aligned on the electrode provided much more surface area. The array was also uniform, whereas the porous material was irregular and difficult for ions to move in and out of. “A way to look at it is the industry standard looks like nanoscopic sponge, and the vertically aligned nanotube arrays look like a nanoscopic hairbrush” that provides the ions more efficient access to the electrode surface, Cooley says. With funding from the Ford-MIT Alliance and MIT Energy Initiative, the researchers built a fingernail-sized prototype that stored twice the energy and delivered seven to 15 times more power than traditional ultracapacitors. In 2008, the three researchers launched FastCAP, and Cooley and Signorelli brought the business idea to Course 15.366 (Energy Ventures), where they designed a three-step approach to a market. The idea was to first focus on building a product for an early market: oil and gas. Once they gained momentum, they’d focus on two additional markets, which turned out to be aerospace and defense, and then automotive and stationary storage, such as server farms and grids. “One of the paradigms of Energy Ventures was that steppingstone approach that helped the company succeed,” Cooley says. FastCAP then earned a finalist spot in the 2009 MIT Clean Energy Prize (CEP), which came with some additional perks. “The value there was in the diligence effort we did on the business plan, and in the marketing effect that it had on the company,” Cooley says. Based on their CEP business plan, that year FastCAP won a $5 million U.S. Department of Energy (DOE) Advanced Research Projects Agency-Energy grant to design ultracapacitors for its target markets in automotive and stationary storage. FastCAP also earned a 2012 DOE Geothermal Technologies Program grant to develop very high-temperature energy storage for geothermal well drilling, where temperatures far exceed what available energy-storage devices can tolerate. Still under development, these ultracapacitors have proven to perform from minus 5 C to over 250 C. Over the years, FastCAP made several innovations that have helped the ultracapacitors survive in the harsh conditions. In 2012, FastCAP designed its first-generation product, for the oil and gas market: a high-temperature ultracapacitor that could withstand temperatures of 150 C and posed no risk of explosion when crushed or damaged. “That was an interesting market for us, because it’s a very harsh environment with [tough] engineering challenges, but it was a high-margin, low-volume first-entry market,” Cooley says. “We learned a lot there.” In 2014, FastCAP deployed its first commercial product. The Ulysses Power System is an ultracapacitor-powered telemetry device, a long antenna-like system that communicates with drilling equipment. This replaces the battery-powered systems that are volatile and less efficient. It also amplifies the device’s signal strength by 10 times, meaning it can be sent thousands of feet underground and through subsurface formations that were never thought penetrable in this way before. After a few more years of research and development, the company is now ready to break into aerospace and defense. In 2015, FastCAP completed two grant programs with NASA to design ultracapacitors for deep space missions (involving very low temperatures) and for Venus missions (involving very high temperatures). In May 2016, FastCAP continued its relationship with NASA to design an ultracapacitor-powered module for components on planetary balloons, which float to the edge of Earth’s atmosphere to observe comets. The company is also developing an ultracapacitor-based energy-storage system to increase the performance of the miniature satellites known as CubeSats. There are other aerospace applications too, Cooley says: “There are actuators systems for stage separation devices in launch vehicles, and other things in satellites and spacecraft systems, where onboard systems require high power and the usual power source can’t handle that.” A longtime goal has been to bring ultracapacitors to electric and hybrid vehicles, providing high-power capabilities for stop-start and engine starting, torque assist, and longer battery life. In March, FastCAP penned a deal with electric-vehicle manufacturer Mullen Technologies. The idea is to use the ultracapacitors to augment the batteries in the drivetrain, drastically improving the range and performance of the vehicles. Based on their wide temperature capabilities, FastCAP’s ultracapacitors could be placed under the hood, or in various places in the vehicle’s frame, where they were never located before and could last longer than traditional ultracapacitors. The devices could also be an enabling component in fuel-cell vehicles, which convert chemical energy from hydrogen gas into electricity that is then stored in a battery. These zero-emissions vehicles have difficulty handling surges of power — and that’s where FastCAP’s ultracapacitors can come in, Cooley says. “The ultracapacitors can sort of take ownership of the power and variations of power demanded by the load that the fuel cell is not good at handling,” Cooley says. “People can get the range they want for a fuel-cell vehicle that they’re anxious about with battery-powered electric vehicles. So there are a lot of good things we are enabling by providing the right ultracapacitor technology to the right application.”


News Article
Site: http://www.greentechmedia.com/articles/category/solar

Venture capitalists invested $58.8 billion into U.S.-based startups in 2015, according to Thomson Reuters, PwC and the National Venture Capital Association -- the second-highest figure recorded. But VCs continue to turn a blind eye to the cleantech sector -- with less than $700 million invested in the last quarter of 2015, according to Clean Energy Pipeline, and just a fraction of that total going to early-stage deals. Nevertheless, we've managed to find eight earlyish-stage cleantech deals to start off 2016. Powerhive, a microgrid developer and financier for emerging markets, closed a $20 million series A financing round led by Prelude Ventures along with Caterpillar Ventures, Total Energy Ventures, Tao Capital Partners and Pi Investments. The funding will be used to grow Powerhive’s footprint into new markets in Africa and the Asia-Pacific region, as well as to support continued expansion in Kenya. Recently, Powerhive received a $12 million equity investment in its flagship project, which is seeking to develop microgrids that will serve 90,000 people in western Kenya. The Berkeley, Calif.-based company has offices in Nairobi and Manila, and received early backing from First Solar. Off-grid renewable energy companies raised close to $200 million in 2015 versus the roughly $64 million invested in off-grid solar solutions in 2014. MPrest just raised $20 million in equity funding led by GE Ventures and OurCrowd in its series A. The startup provides software to “connect the dots” across "multiple complex systems of any scale for real-time situation awareness [and] predictive analytics" and is bringing its technology to the internet-of-things/utility market. The firm is already working with New York Power Authority and Israel Electric Corp. The company has also contributed to Israel's "Iron Dome" defense system. London-based Telensa, a 10-year-old developer of networked LED street lighting equipment for "smart city" applications, raised $18 million in equity and debt from Environmental Technologies Fund and Silicon Valley Bank. Telensa already has hundreds of thousands of endpoints networked using its low-power wide-area wireless technology. The company is a founding member of the Wireless Internet of Things Forum. Mercatus, a cloud-based provider of "Energy Investment Management" (EIM) solutions to energy producers, developers and financiers, raised $11.7 million in series B funding led by Traverse Venture Partners and TPG’s Alternative and Renewable Technology fund, along with existing series A investors Vision Ridge Partners, Trepp and Augment Ventures. Josh Green of Traverse said, "In the current era of rapid energy industry transformation, we see Mercatus’ EIM solution as a critical enabling technology that accelerates the mass deployment of distributed energy."  Mercatus is seeking to speed up "the investment of massive amounts of capital required by the energy industry,” according to Haresh Patel, the company's CEO. Pellion Technologies, a Cambridge, Mass.-based developer of a magnesium battery technology with a potentially high energy density, raised an undisclosed amount of funding from Motorola Solutions. Motorola joins previous investor Khosla Ventures, along with the DOE. David Eaglesham, former CTO at First Solar, is the CEO of Pellion. Small modular reactor startup Terrestrial Energy closed $8 million in funding from undisclosed sources for its Integral Molten Salt Reactor design, according to SEC documents. Terrestrial's chairman Hugh MacDiarmid is on the board of two companies financially involved with the $106 billion Ontario Teachers’ Pension Plan, suggesting their undisclosed involvement here. The small nuclear reactors are intended for industrial process heat markets, with market deployment targeted "in the 2020s." According to SEC documents, Geli, the distributed energy storage software developer, has raised $3 million of a $9 million funding round from undisclosed investors. Strategic funders will fill out the rest of the round, according to sources. Voltaiq closed on $1.6 million of a $3 million funding round, according to SEC documents. The startup is developing software to track and analyze the performance of batteries with analytics and big data. Michael Berolzheimer, an investor at Bee Partners, is listed on the SEC document. CEO Tal Sholklapper co-founded Point Source Power, a fuel-cell technology firm funded by Vinod Khosla.


News Article
Site: http://news.mit.edu/topic/mitenergy-rss.xml

Devices called ultracapacitors have recently become attractive forms of energy storage: They recharge in seconds, have very long lifespans, work with close to 100 percent efficiency, and are much lighter and less volatile than batteries. But they suffer from low energy-storage capacity and other drawbacks, meaning they mostly serve as backup power sources for things like electric cars, renewable energy technologies, and consumer devices. But MIT spinout FastCAP Systems is developing ultracapacitors, and ultracapacitor-based systems, that offer greater energy density and other advancements. This technology has opened up new uses for the devices across a wide range of industries, including some that operate in extreme environments. Based on MIT research, FastCAP’s ultracapacitors store up to 10 times the energy and achieve 10 times the power density of commercial counterparts. They’re also the only commercial ultracapacitors capable of withstanding temperatures reaching as high as 300 degrees Celsius and as low as minus 110 C, allowing them to endure conditions found in drilling wells and outer space. Most recently, the company developed a AA-battery-sized ultracapacitor with the perks of its bigger models, so clients can put the devices in places where ultracapacitors couldn’t fit before. Founded in 2008, FastCAP has already taken its technology to the oil and gas industry, and now has its sights set on aerospace and defense and, ultimately, electric, hybrid, and even fuel-cell vehicles. “In our long-term product market, we hope that we can make an impact on transportation, for increased energy efficiency,” says co-founder John Cooley PhD ’11, who is now president and chief technology officer of FastCAP. FastCAP’s co-founders and technology co-inventors are MIT alumnus Riccardo Signorelli PhD ’09 and Joel Schindall, the Bernard Gordon Professor of the Practice in the Department of Electrical Engineering and Computer Science. Ultracapacitors use electric fields to move ions to and from the surfaces of positive and negative electrode plates, which are usually coated with a porous material called activated carbon. Ions cling to the electrodes and let go quickly, allowing for quick cycling, but the small surface area limits the number of ions that cling, restricting energy storage. Traditional ultracapacitors can, for instance, hold about 5 percent of the energy that lithium ion batteries of the same size can. In the late 2000s, the FastCAP founding team had a breakthrough: They discovered that a tightly packed array of carbon nanotubes vertically aligned on the electrode provided much more surface area. The array was also uniform, whereas the porous material was irregular and difficult for ions to move in and out of. “A way to look at it is the industry standard looks like a nanoscopic sponge, and the vertically aligned nanotube arrays look like a nanoscopic hairbrush” that provides the ions more efficient access to the electrode surface, Cooley says. With funding from the Ford-MIT Alliance and MIT Energy Initiative, the researchers built a fingernail-sized prototype that stored twice the energy and delivered seven to 15 times more power than traditional ultracapacitors. In 2008, the three researchers launched FastCAP, and Cooley and Signorelli brought the business idea to Course 15.366 (Energy Ventures), where they designed a three-step approach to a market. The idea was to first focus on building a product for an early market: oil and gas. Once they gained momentum, they’d focus on two additional markets, which turned out to be aerospace and defense, and then automotive and stationary storage, such as server farms and grids. “One of the paradigms of Energy Ventures was that steppingstone approach that helped the company succeed,” Cooley says. FastCAP then earned a finalist spot in the 2009 MIT Clean Energy Prize (CEP), which came with some additional perks. “The value there was in the diligence effort we did on the business plan, and in the marketing effect that it had on the company,” Cooley says. Based on their CEP business plan, that year FastCAP won a $5 million U.S. Department of Energy (DOE) Advanced Research Projects Agency-Energy grant to design ultracapacitors for its target markets in automotive and stationary storage. FastCAP also earned a 2012 DOE Geothermal Technologies Program grant to develop very high-temperature energy storage for geothermal well drilling, where temperatures far exceed what available energy-storage devices can tolerate. Still under development, these ultracapacitors have proven to perform from minus 5 C to over 250 C. Over the years, FastCAP made several innovations that have helped the ultracapacitors survive in the harsh conditions. In 2012, FastCAP designed its first-generation product, for the oil and gas market: a high-temperature ultracapacitor that could withstand temperatures of 150 C and posed no risk of explosion when crushed or damaged. “That was an interesting market for us, because it’s a very harsh environment with [tough] engineering challenges, but it was a high-margin, low-volume first-entry market,” Cooley says. “We learned a lot there.” In 2014, FastCAP deployed its first commercial product. The Ulysses Power System is an ultracapacitor-powered telemetry device, a long antenna-like system that communicates with drilling equipment. This replaces the battery-powered systems that are volatile and less efficient. It also amplifies the device’s signal strength by 10 times, meaning it can be sent thousands of feet underground and through subsurface formations that were never thought penetrable in this way before. After a few more years of research and development, the company is now ready to break into aerospace and defense. In 2015, FastCAP completed two grant programs with NASA to design ultracapacitors for deep space missions (involving very low temperatures) and for Venus missions (involving very high temperatures). In May 2016, FastCAP continued its relationship with NASA to design an ultracapacitor-powered module for components on planetary balloons, which float to the edge of Earth’s atmosphere to observe comets. The company is also developing an ultracapacitor-based energy-storage system to increase the performance of the miniature satellites known as CubeSats. There are other aerospace applications too, Cooley says: “There are actuators systems for stage separation devices in launch vehicles, and other things in satellites and spacecraft systems, where onboard systems require high power and the usual power source can’t handle that.” A longtime goal has been to bring ultracapacitors to electric and hybrid vehicles, providing high-power capabilities for stop-start and engine starting, torque assist, and longer battery life. In March, FastCAP penned a deal with electric-vehicle manufacturer Mullen Technologies. The idea is to use the ultracapacitors to augment the batteries in the drivetrain, drastically improving the range and performance of the vehicles. Based on their wide temperature capabilities, FastCAP’s ultracapacitors could be placed under the hood, or in various places in the vehicle’s frame, where they were never located before and could last longer than traditional ultracapacitors. The devices could also be an enabling component in fuel-cell vehicles, which convert chemical energy from hydrogen gas into electricity that is then stored in a battery. These zero-emissions vehicles have difficulty handling surges of power — and that’s where FastCAP’s ultracapacitors can come in, Cooley says. “The ultracapacitors can sort of take ownership of the power and variations of power demanded by the load that the fuel cell is not good at handling,” Cooley says. “People can get the range they want for a fuel-cell vehicle that they’re anxious about with battery-powered electric vehicles. So there are a lot of good things we are enabling by providing the right ultracapacitor technology to the right application.”

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