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Mintz Levin Energy Technology
Energy Technology Connections Newsletter
Your Law Firm Link to Industry News
May 2017
Our May edition of Energy Technology Connections brings you recent industry highlights and features a list of upcoming energy industry events throughout the nation. In Event Highlights, we feature SuperReturn US East 2017, which will take place June 12-15 in Boston, Advanced Energy Economy’s Pathway to 2050, which will take place June 21 in Sacramento, and NECEC’s Cleantech Financial Innovation Summit, which will take place June 22 in New York. Our Washington Update provides insight into a number of energy-related developments at the federal level, including President Trump’s recently proposed budget for Fiscal Year 2018, the Senate’s failed efforts to turn back the Obama administration’s methane rule, and several pieces of legislation related to energy efficiency.
For links to industry grant opportunities and stories from the business, policy, and research sectors of the energy and clean technology industry, please see our Energy Navigator.
You can subscribe to our Energy Technology Matters blog here.
We would also like to remind our readers that you can always ask us anything at http://mintzedge.com/ask-anything/. We built the MintzEdge website as a resource for entrepreneurs and investors, and hope that all of you take advantage of the site and see how it can help you.
Contents
Event Highlights
Washington Update
Energy Navigator
Upcoming Events
Attracting 550+ delegates, including 150+ International LPs, SuperReturn US East 2017 is recognized as the must-attend gathering for the private equity and venture capital community. The conference, taking place June 12-15 in Boston, will discuss the hottest topics within the US private equity and venture capital scene, including fundraising, tech, investment strategies, private credit, real estate, infrastructure, health care and life sciences, and energy and renewables.
Will you be in Boston on June 12? If so, we’d like to invite you to join us for Mintz Levin’s Private Equity Reception. For more details, e-mail Cassie Bent at [email protected].
Advanced Energy Economy’s annual California energy policy event brings together an influential group of advanced energy business leaders and state policy makers to discuss opportunities to accelerate California’s economy through the growth of advanced energy. Pathway to 2050, which will take place June 21 in Sacramento, also offers networking opportunities to meet with others in the advanced energy industry as well as key public officials. Mintz Levin is a proud sponsor of this event and a Silver Affiliate Member of Advanced Energy Economy.
As the Northeast US clean energy market accelerates, new financial innovations are essential to unlocking new markets and models and continuing the region’s clean energy growth. This year’s Cleantech Financial Innovation Summit, taking place June 22 in New York, will highlight the new and potential financial innovations with the power to unlock solutions for the 21st-century energy system and clean transportation markets. Leaders in the finance community and clean energy industry will come together to discuss the latest investing models, capital sources, and approaches to syndicate investments and public/private partnerships, as well as new energy services business models and solutions that create the need for financial products. Our own Tom Burton will be in attendance. Mintz Levin is a proud sponsor of NECEC.
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On May 23 President Trump released his proposed budget for Fiscal Year 2018 (FY18). The budget calls for a significant increase in defense spending, and reductions in non-defense spending. Defense would see an increase of $22 billion above current levels, with $668 billion proposed for FY18, while non-defense spending would see a decrease of $57 billion from current levels, with $479 billion proposed for FY18.
The Department of Energy (DOE) budget is reduced by more than 9%, with a proposed budget of $28 billion for FY18. The budget reduces by more than 50% the budget for DOE’s Office of Fossil Energy and Office of Energy Efficiency and Renewable Energy. The budget would eliminate the Advanced Research Projects Agency-Energy (ARPA-E) program.
The Environmental Protection Agency (EPA) budget is reduced by 32%, from the current $8.2 billion to $5.7 billion for FY18. EPA’s budgetary reduction is the steepest of all federal agencies.
The spending levels in the FY18 budget are in line with what was included in the “skinny budget” released by the White House several weeks ago, but it should be noted that this is just one step in the budget process for FY18 and there will be skepticism from both Democrats and Republicans on Capitol Hill about some of the deep spending cuts proposed by the president.
Efforts in the US Senate to turn back the Obama administration’s Methane and Waste Prevention Rule faltered on May 10 when three Republicans – Sens. Collins (R-ME), Graham (R-SC), and McCain (R-AZ) – joined with all 48 Democratic senators to reject the Congressional Review Act (CRA) resolution to undo the Bureau of Land Management (BLM) rule. The rule limits methane emissions from oil and natural gas drilling. The Department of Interior is still expected to seek to modify the rule through administrative action.
On May 25 the Senate Energy and Natural Resources Committee will hold a hearing to consider the nominations of Dan Brouillette to be the Deputy Secretary of the Department of Energy, Neil Chatterjee to be a member of the Federal Energy Regulatory Commission (FERC), and Robert Powelson to be a member of FERC.
Senate Finance Committee Ranking Member Wyden (D-OR) has introduced the Clean Energy for America Act – a bill that aims to create a new technology-neutral system for federal tax credits for clean energy, clean fuel, and energy efficiency projects. The bill has 21 cosponsors. More on this legislation, including the legislative text, a one-page summary, and a longer summary of the bill, can be found on our Energy Technology Matters blog post.
On May 19, Sen. Cantwell (D-WA), ranking member of the Senate Energy and Natural Resources Committee, and Sen. Shaheen (D-NH), ranking member of the Senate Small Business and Entrepreneurship Committee, wrote to Energy Secretary Perry and Small Business Administrator McMahon asking for an explanation for the delay in federal research and development grants to small businesses through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
The Senate Environment and Public Works Committee held a hearing on May 23 focused on the Ozone Standards Implementation Act (S. 263) and the Ozone Regulatory Delay and Extension of Assessment Length Act (S. 452). Both bills are aimed at delaying implementation of the Environmental Protection Agency’s ground-level ozone standard. Hearing witnesses were Misael Cabrera, director, Arizona Department of Environmental Quality; Kyle Zeringue, senior vice president, Baton Rouge Area Chamber; Ahron Hakimi, executive director, Kern Council of Governments; Dr. Monica Kraft, former president, American Thoracic Society, University of Arizona College of Medicine, Tucson; and Shawn Garvin, secretary, Delaware Department of Natural Resources and Environmental Control.
Sens. Markey (D-MA) and Whitehouse (D-RI), and Rep. Langevin (D-RI) have introduced the Offshore Wind Incentives for New Development Act, which would extend a 30% investment tax credit for offshore wind projects through 2025. The credit currently runs through 2019. The Senate bill is cosponsored by Sens. Merkley (D-OR), Warren (D-MA), Reed (D-RI), Booker (D-NJ), and Brown (D-OH). The House bill currently has no cosponsors. The bill was introduced in the House and Senate last year but never made it out of committee.
Senators Gary Peters (D-MI), Debbie Stabenow (D-MI) and Lamar Alexander (R-TN) have reintroduced the Vehicle Innovation Act to encourage investments in research and development of clean vehicle and advanced safety technologies to increase fuel efficiency and reduce dependence on foreign oil. The Vehicle Innovation Act strengthens and streamlines the Department of Energy’s Vehicle Technologies Office, which promotes public-private partnerships to conduct technology-neutral research and development on a diverse range of new technologies to improve fuel efficiency in light, medium, and heavy-duty vehicles. The bill will support domestic research and development, and is intended to support advanced manufacturing industry in the United States and reduce our dependence on imported oil. The legislation is supported by the Motor and Equipment Manufacturers Association, the Auto Alliance, UAW, the BlueGreen Alliance, and NTEA – The Association for the Work Truck Industry.
Sens. Manchin (D-WV), Capito (R-WV), and Portman (R-OH) have introduced the Appalachian Ethane Storage Hub Study Act, which calls for an assessment of the potential for an underground ethane storage site and distribution hub. The bill would also incentivize investment in such a project.
The Lawrence Berkeley National Laboratory (LBNL) has released its 2016 Annual Status Report on U.S. Renewable Portfolio Standards. According to LBNL, wind energy has been the primary form (64%) of all renewable portfolio standards (RPS)-driven renewable energy capacity growth to date, but solar was the largest source (69%) of RPS builds in 2015. The report describes key trends, including recent legislative revisions, RPS policy design features, compliance with interim targets, and costs.
The Department of Energy announced on May 18 that it is honoring commitments to three previously selected Advanced Research Projects Agency-Energy (ARPA-E) awardees. The department says that the funds are moving ahead following a review of all taxpayer-funded grants and projects. Earlier in the month congressional letters were sent to Energy Secretary Perry arguing that by withholding the funds the department could be in violation of the Congressional Budget and Impoundment Control Act of 1974, whereby funds cannot be withheld for publicly announced projects covered by earlier appropriations. The projects moving forward are part of ARPA-E’s Next-Generation Energy Technologies for Connected and Autonomous On-Road Vehicles (NEXTCAR) and Renewable Energy to Fuels Through Utilization of Energy-Dense Liquids (REFUEL) programs. The awards are going to Purdue University (NEXTCAR), FuelCell Energy, Inc. (REFUEL), and SAFCell, Inc. (REFUEL).
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Please visit and bookmark our Energy Navigator to easily view all of the latest headlines from the most trusted publications reporting on developments in the energy and clean technology industries. It is housed on our blog, Energy Technology Matters.
MassCEC’s Offshore Wind Supply Chain Forum
May 31, 2017
Newton, MA
More Info »
Safer Sustainable Products Summit, presented by Infocast
May 31-June 2, 2017
Washington, DC
More Info »
EBC Energy Resources Program: Advanced Metering Infrastructure – The Challenges of Implementation
June 2, 2017
Boston, MA
More Info »
EBC Solid Waste Management Committee Program Planning Meeting
June 6, 2017
Haverhill, MA
More Info »
West Coast Energy Management Congress
June 7-8, 2017
Long Beach, CA
More Info »
TechSandBox: Clean Tech Trialog
June 8, 2017
Hopkinton, MA
More Info »
Kayo Women’s Energy Investment Conference
June 12-13, 2017
Houston, TX
More Info »
Microgrids Meet the Markets, presented by Infocast
June 12-14, 2017
Washington, DC
More Info »
SuperReturn US East 2017
June 12-15, 2017
Boston, MA
More Info »
Solar Power Texas
June 13-14, 2017
Austin, TX
More Info »
Innovation & Impact 2017 Symposium
June 14, 2017
Mountain View, CA
More Info »
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NEWIN Water Pitch Night – Nitrogen & Coastal Water Quality – Boston
June 15, 2017
Boston, MA
More Info »
2017 Annual Green Building Showcase
June 15, 2017
Boston, MA
More Info »
VERGE Hawaii
June 20-22, 2017
Honolulu, HI
More Info »
California Water Summit, presented by Infocast
June 20-22, 2017
Sacramento, CA
More Info »
Women in Cleanweb, presented by MassCEC and GA
June 21, 2017
Boston, MA
More Info »
NECEC’s Cleantech Financial Innovation Summit
June 22, 2017
New York, NY
More Info »
Xconomy IMPACT: Innovation That Matters
June 22, 2017
Boston, MA
More Info »
2017 Cleantech Open East Coast Academy
June 26-27, 2017
Boston, MA
More Info »
Grid Edge World Forum – Greentech Media
June 27-29, 2017
San Jose, CA
More Info »
2017 Navigate Investor Corporate Customer Connect
June 28, 2017
Boston, MA
More Info »
New England Energy Research Forum
June 28, 2017
Worcester, MA
More Info »
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Learn more about the Mintz Levin Energy Technology group here.
Thomas R. Burton III
Member
Chair, Energy Technology
(Boston)
617.348.3097
[email protected]
Sahir Surmeli
Member
Co-chair, Energy Technology
(Boston)
617.348.3013
[email protected]
Lisa Adams
Member
Intellectual Property (Boston)
617.348.3054
[email protected]
Hannah Chapel
Associate
Corporate & Securities (Boston)
617.348.4868
[email protected]
Ralph A. Child
Member
Environmental (Boston)
617.348.3021
[email protected]
Hannah C. Coman
Associate
Corporate & Securities (Boston)
617.348.1703
[email protected]
Daniel I. DeWolf
Member
Co-chair, Venture Capital &
Emerging Companies;
Corporate & Securities (New York)
212.692.6223
[email protected]
Paul H. Dickerson
Of Counsel
Corporate & Securities (Washington)
202.460.9286
[email protected]
Joanne Dynak
Project Analyst (Boston)
617.348.4415
[email protected]
Meryl J. Epstein
Member
Corporate & Securities (Boston)
617.348.1635
[email protected]
Gregory S. Fine
Member
Corporate & Securities (Boston)
617.348.3003
[email protected]
Susan L. Foster, PhD
Member
Corporate & Securities (London)
+44.20.7776.7330
[email protected]
William C. Geary
Member
Intellectual Property (Boston)
617.348.3046
[email protected]
Kristin A. Gerber
Associate
Corporate & Securities (Boston)
617.348.3043
[email protected]
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Jeremy D. Glaser
Member
Corporate & Securities (San Diego)
858.314.1515
[email protected]
Ian A. Hammel
Member
Bankruptcy, Restructuring & Commercial Law (Boston)
617.348.1724
[email protected]
Irwin M. Heller
Member
Corporate & Securities (Boston)
617.348.1654
[email protected]
Kanasha S. Herbert
Associate
Corporate & Securities (Boston)
617.348.3015
[email protected]
Kenneth E. Jenkins. PhD
Member
Intellectual Property (San Diego)
858.314.1082
[email protected]
Jonathan L. Kravetz
Member
Chair, Securities;
Corporate & Securities (Boston)
617.348.1674
[email protected]
Cynthia J. Larose
Member
Corporate & Securities (Boston)
617.348.1732
[email protected]
R.J. Lyman
Member
Corporate & Securities, Project Development & Finance
(Boston)
617.348.1789
[email protected]
Audrey C. Louison
Member
Chair, Project Development & Finance
(Washington)
202.434.7380
[email protected]
Eric W. Macaux
Associate
Corporate & Securities, Project Development & Finance, (Boston)
617.348.1677
[email protected]
Jeffrey A. Moerdler
Member
Real Estate, Communications,
Environmental (New York)
212.692.6700
[email protected]
Neal Martin
Senior Manager of Government Relations
ML Strategies (Washington)
202.434.7458
[email protected]
David L. O'Connor
Senior Vice President for
Energy Technology
ML Strategies (Boston)
617.348.4418
[email protected]
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Leah J. Pollema
Associate
Corporate & Securities (San Diego)
858.314.1494
[email protected]
Jeffrey R. Porter
Member
Environmental (Boston)
617.348.1711
[email protected]
Jennifer Sacco Smith
Associate
Real Estate (Boston)
617.348.1678
[email protected]
Chuck A. Samuels
Member
Antitrust/Energy Efficiency (Washington)
202.434.7311
[email protected]
Gabriel Schnitzler
Member
Real Estate (San Francisco)
415.432.6004
[email protected]
Terri Shieh-Newton, PhD
Member
Intellectual Property (San Francisco)
415.432.6084
[email protected]
Matthew T. Simpson
Associate
Corporate & Securities (Washington)
202.434.7436
[email protected]
Paula J. Valencia-Galbraith
Associate
Corporate & Securities (Boston)
617.210.6854
[email protected]
Michael D. Van Loy, PhD
Member
Intellectual Property (San Diego)
858.314.1559
[email protected]
Katy E. Ward
Contract Attorney
Environmental (Boston)
617.348.1850
[email protected]
William F. Weld
Member
Corporate & Securities
Principal
ML Strategies
(Boston, New York, Washington)
617.348.4412
[email protected]
Daniel E. Wilcox
Associate
Corporate & Securities (Boston)
617.348.3098
[email protected]
Parnia Zahedi
Project Analyst (Boston)
617.348.4464
[email protected]
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Thomas R. Burton, III
Sahir Surmeli
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