Is Clean Energy Back For Good?*

Written by: Paul on Thursday, May 16, 2013 | Leave a Comment 

The S&P Global Clean Energy Index, a diversified benchmark of 30 clean energy companies from around the world, underperformed the S&P 500 every calendar year of the last five. Over that time (2008-2012) it lost 88 percent of its total value, according to Bloomberg. This year, however, clean energy stocks have strongly outperformed U.S. equities overall (which have themselves surged to record highs in 2013). So what’s the deal? Is clean energy truly back?

Though there is no doubt many cleantech companies could not survive another economic downturn the likes of the one we’ve seen the last five years, that also means that none of the companies in the game today are pretenders. The sector is probably stronger now than it ever has been, and not just because investor cash is finally flowing in: Entrepreneurs have finally figured out how to make money in clean energy.

That’s true for S&P Global Clean Energy Index constituents like First Solar, a utility-scale photovoltaics provider, and it’s also true of earlier stage companies that are set to make a splash in clean energy. The recession’s secret silver lining is that it forced companies to innovate their technologies and their business models simultaneously.

Here in New England, we have no shortage of innovative clean energy upstarts whose businesses look promising. Altaeros, for instance, makes a wind turbine unlike any you’ve seen before – it hovers hundreds or even thousands of feet in the air, where winds are stronger and no one can complain about a windmill ruining the view. Don’t believe me? Check out this video of the turbine in action:

Portland, Maine-based Ocean Renewable Power Company is also putting turbines in unusual places, in this case, deep in the ocean, where the company harnesses the massive energy of tidal currents. Big Belly Solar (hailing from Newton, Massachusetts) has actually combined two clean technologies – recycling and solar energy – to revolutionize public trash collection. Its waste and recycling stations (which, by the way, can send email and text message alerts when they’re full) can now be seen from Times Square to Viborg, Denmark.

There’s never any telling where a market as new and swiftly changing as clean energy might be headed, but it’s safe to say that things are looking up. And that’s good news: After all, what other industry is good for investors, global economies and the environment at the same time?

Jake Navarro is an account supervisor for Greenough. Send him an email at

Innovation within the Hub: How Boston is Creating its own Destiny*

Written by: Zach Pearson on Friday, April 13, 2012 | Leave a Comment 

Each year, when the Boston Marathon rolls around, I feel a renewed sense of pride for the city in which I live. On the third Monday of every April, when elite athletes travel to Boston to compete in the world’s oldest annual marathon, this pride certainly grows stronger and I think, “hey, I live in a pretty cool city.”

Last week I read an article written by the Globe’s Scott Kirsner that reinforced this sentiment, offering up things the Bay State can and should be proud of; not in terms of athletics and traditions, but in terms of technology and innovation. What made the list? Our leadership in life sciences; fostering entrepreneurship; our top notch colleges and universities; our local hangouts,  which allow for the exchange of innovative ideas; contribution from big companies such as Microsoft, Raytheon and iRobot and the accomplishments of Terrafugia, the creators of a flying car.

So what about the areas the Bay State needs to work on?  Kirsner argued that Massachusetts isn’t creating enough public, economy-invigorating companies, we ignore potentially lucrative consumer-oriented innovation, we make it hard for talented foreign college graduates to remain stateside and we don’t mint enough “angel” investors, who fund cool startups.

Well put.

As far as the areas in which the Bay State is doing well, a few other areas could have made the list. What about renewable energy and clean technology? Just yesterday, our client Harvest Power, a Waltham-based startup that turns food scraps into energy, received $110 million in series C funding, a milestone that will undoubtedly propel the organic waste industry forward. Or, how about companies like BigBelly Solar which uses solar power to cut waste collection trips by 80%? And, you can’t forget Boston’s robust information technology and cloud computing industry. In addition to the heavy (IT) hitters like EMC and Akamai, cloud start-ups in the Boston area, such as Cloudant, Sonian and Kinvey, are making quite a splash in the industry.

When it comes to innovation, Boston is no Silicon Valley, a sentiment that many Bostonians are probably sick of hearing. But, maybe we don’t want to be Silicon Valley. Massachusetts is a unique area with deep historic roots and is home to many extremely bright individuals. Boston can and should create its own path of innovation, and I would argue that we are already doing this. As Kirsner noted, there are always areas for improvement, but from the work being done to develop breakthrough medical treatments to the conversion of organic waste into energy, we are making great strides just like the marathoners will on Monday.

Jessica Boardman a senior consultant at Greenough. She can be reached via email at or follow her on twitter @J_Boardman.