|| Print ||
|Tuesday, March 22, 2011|
By Corey Paul
Just $10 million. That's all the CEO of ClearEdge Power told Senator Jeff Merkley that he needs to transform the Hillsboro fuel cell manufacturer into a billion dollar company. The CEO, Russ Ford, guided Merkley through the ClearEdge plant on Tuesday, showing him a wall ready to be torn down and an assembly line ready to be extended. The renovations could boost capacity from 1,500 units a year to more than 10,000.
Before Merkley, all of the Congressional representatives in the state had paid a visit and praised ClearEdge's economic and environmental promise. During his turn, Merkley said the company represented a niche market and a technology that's ahead of the world curve, though he was unfamiliar with their financial structure.
Ford says the devices nearly halve monthly utility bills and through those savings, pay themselves off in four or five years, faster than solar or wind energy. The company expects to earn $60 million in sales in 2011.
But upfront, fuel cells cost a lot: up to $56,000. Which is why ClearEdge wants the government to offer tax credits to encourage people to buy enough fuel cells to lower their price through an economy of scale.
Korea has bought the most ClearEdge units, signing a $40 million, three-year deal last June to distribute 800 fuel cells to multi-tenant housing. That deal stemmed from a Korean mandate that 10 percent of the energy needs for new buildings must come from renewable sources as it tries to become less dependent on nuclear power. Domestically, California is the biggest consumer, with higher energy rates and a $12,500 state tax incentive — on top of the federal one. Oregon has no such incentive, but ClearEdge does benefit from the business energy tax credit (BETC).
Just a few weeks ago, the Oregonian published a series that questioned whether the state's green energy incentives — like the BETC — translate into jobs for the state and attract companies that wouldn't otherwise come. An IPO from ClearEdge would likely be seen as some validation for the state's expensive effort to brand itself as a green-energy state, an effort Merkley supports.
The senator adds that green energy is valuable for three reasons:
- It protects national security by lessening dependence on foreign oil
- It creates jobs
- It helps our environment with lower carbon emissions.
"So incentives have to be evaluated with those three important things in mind," Merkley said. "And now we're to the point where we can evaluate those incentives."
Corey Paul is an associate writer for Oregon Business.
Thursday, July 24, 2014
BY LINDA BAKER | OB EDITOR
Remember the naysayers? Those who called the South Waterfront aerial tram a boondoggle? Those who rejoiced at the massive sell off of luxury condos at the John Ross and Atwater Place?
Thursday, July 03, 2014
BY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS
The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.
Thursday, July 10, 2014
BY TOM COX | OB BLOGGER
Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.
Monday, July 07, 2014
BY TOM COX | OB BLOGGER
Named after the 2010 experiment by Thomas Ryan, "Robin Sages" are fake social media profiles designed to encourage linking and divulging valuable information.
Monday, August 18, 2014
Portland is in the middle of another construction boom, with residential and office projects springing up downtown, in the Pearl and Old Town. OB Web Editor Jessica Ridgway documents the new wave.
Monday, July 14, 2014
BY TERRY "STARBUCKER" ST. MARIE
I really didn’t know that much about angel investing, but I did know a lot about the entrepreneurial spirit.
Wednesday, July 09, 2014
BY LINDA BAKER | OB EDITOR
Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.
|The Private 150: Bigger But Leaner|
|The Perfect Food|
|Powerlist: Staffing Firms|
|Taxis Uber Alles?|
|WHO: Ban e-cigarette use indoors|
|Burger King to acquire Tim Hortons for $11.5B|
|Burger King in talks to buy Tim Hortons|
|Damage from Northern California quake could reach $1B|
|Yellen says job market hampered|
|Gap goes to India|
|Federal directive threatens Oregon health reforms|
Vigilant enters a New Year with a new president.
How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder William T. Patton has been appointed to the board of directors for Cascade AIDS Project, an organization that provides educational services and outreach to thousands of Oregonians living with HIV/AIDS.
Fifty-one Lane Powell lawyers were recently selected by their peers for inclusion in The Best Lawyers in America® (Best Lawyers) 2015; of those selected, 23 lawyers are from the Firm’s office in Portland, Oregon.
Barran Liebman is proud to announce that Andrew Schpak, a Partner of the firm, has been named Chair of the American Bar Association’s Young Lawyers Division for the 2014-2015 bar year.