In the Clean Tech Revolution, authors Ron Pernick and Clint Wilder identify the major forces that have pushed clean tech from back-to-earth Utopian dream to its current revolution among the inner circles of corporate bedrooms on Wall Street trading floors and in government offices around the globe. By highlighting eight major clean tech sectors they uncover how investors, entrepreneurs and individuals can profit from this next wave of technological innovation. Finally Pernick and Walter shine the spotlight on the winners among technologies, companies and regions that are likely to reap the greatest benefits from clean tech and they show you why the time to act is now. Clint Wilder is a contributing editor at Clean Edge and co author of the Clean Tech Revolution. He often writes the monthly Clean Edge views column on the cleanedge.com website. He also coauthors the firm, the firms renewal clean energy trends report and has helped research and write reports for Clean Edge clients in the industry, finance and government. We are honored to have him here tonight. Won't you please give a warm welcome to Clint Wilder? Thanks Steve and thanks to everyone for coming out tonight, a night very globally warmed evening and it is a great honor for me to be here at Book Passage, I have done since the book came out in June I have done a lot of radio interviews, I have done readings at other places but I consider this my hometown bookstore, I live just down in Sausalito and it is such a great place and I have - a lot of the people I come to see here over the past few years have inspired and informed the book I wrote. People like Bill Mckibbin, Thomas Friedman, John Mcphee and a guy named Jeff Caddell wrote a terrific book about the US coal industry. So you know as I was as I have been in the seats where you are thinking and when my book comes out I hope I get to do reading a Book Passage. So here it is, a little - I often get asked well you know why did you write this book, what was the kind of the genesis of that and when I think about it, it really goes back to November of 2001. At the time I was writing for information in week magazine, actually a spin worth of information we called optimize and I was in my seventeenth year of covering the hi-tech industry, computer industry, software, internet. It was great, but I was starting, 9/11 had just happened and I was starting to think maybe I want to do something else closer to my heart. I just wasn't sure. I went to a conference up in Seattle that year called business for social responsibility or BSR some of you might be familiar with that organization and it was just an eye-opener to see, I mean I have been writing about a business hi-tech for many years. But to see like I could write about business and doing good for the planet as well and it just got me thinking. So fast forward to the following September 02' I went to an economist's conference in San Francesco, went to the energy panel and ran into Ron Pernick who I had known in the internet industry he was in internet marketing and public relations and I didn't know him well but enough to say 'hey, you know I heard you were doing something you know with energy or environment or something and he said yeah it is called Clean Edge you know we are covering this new sector called Clean-tech, remember this is five years now and I said would you ever have a need for writing help and he said you know we might, so we agreed you know talk in a couple of weeks and in one of those great you know confluences of life about two weeks later I got laid off and it was yeah! So it was you know I was shocked I hade been in information week for nine years but you know these things happened and that was you know it was a hi-tech industry at that time. So anyway so I got back with Ron, I ended up joining Clean Edge as contributing editor and we started talking about doing a book and that is kind of how it all pent out. So one of the key points of the Clean Tech revolution is just how mainstream Clean tech has become and this point was, it is a kind of driven home to me every single day and one day in particular, the day last month when I had plans to go see the baseball all star game I am a very big baseball fan and I thought well you know this will just be baseball and I wont think about work or the book or anything. But in my email that morning is an email from the national bio-diesel board says fox sports to use bio-diesel in the all star game broadcast for the satellite trucks and the generators and you know and not just the all star game can do it for the world series and the super bowl. So I said ok, yeah that is mainstream. Then I you know going to town to go to the game, first I go to the all star fan fest at the Moscone Center, Moscone Center which by the way already knew has a solar power roof. But you know fan fest has got all this baseball stuff going on. But one of the first things I saw is there is four cars out on display, one of the sponsors that turns out to be Chevy, two hybrid cars, a hydrogen car and an all electric car called the Chevy volt it is actually a flexible chassis the Chevy volt can be hydrogen powered or electric powered or gasoline powered interesting concept. So I end up talking to these guys about the book and handing out business cards and this is at the baseball fan fest. So so then I go to the game and it is a great game and at the end they give an award to the MVP each a row from Seattle mariners and it's a hybrid vehicle which has to be at first. Now granted it is a hybrid Chevy Tahoe SUV, So not exactly but you know which its just better than a regular Chevy Tahoe SUV, So you know it was just the point of like there is hybrids at the all star game now and then just this morning getting coffee, cafe Trieste in Sausalito they have got the TV on, it's Kron-4 and it's a thing about Doug McConnell - excuse me Doug McConnell of bay area back roads - resident and he is talking about he is driving through Nevada on route fifty in a Nissan ultimo hybrid, talking about yeah I am getting about 40 miles to the gallon you know he got to go up to seven thousand feet down to three thousand base in a range. But you know he is getting about 40, that is pretty cool too. So my point is that Clean Tech is in the main stream becoming more and more mainstream and it is big business and that is something that maybe some of you in this crowd already know that. But a lot of people in the rest of the world don't, you know they still this has this image of you know back to the land, living off the grid kind of thing but in reality it is big business for corporations for big financial firms, you know you can just go right down the list and this is all in the book, Goldman Sachs, General Electric, Toyota, Sharp as well as you know it's the hottest thing in venture capital now. There is more venture capital going into Clean Tech than into medical devices or telecom, you know it is certainly the fastest growing. So that is really our point with the book is to put the spotlight on Clean Tech as a business. The subtitle of the book is the next big growth in investment opportunity and even though we don't say these stocks are going to go up and these are not but we do identify companies to keep an eye on an overall trends that investors can take advantage of. So let me just get into a reading passage here. In this does have a local angle. This is the beginning of the chapter on personal transportation one of the technology chapters and I will kind of go down the list after I read this. It's a beautiful day for a drive just north of San Francisco in Marin County California rays of the late after noon January sun beaming between purple grey clouds like stage lighting frame stunning vistas of Majestic Mount Tamalpais. But behind the wheel of the Toyota pre estate is converted to a plug in hybrid Ron Grembans isn't paying attention to any of it. Look at that he says pointing to the mid dash board graphic display showing how much kinetic energy from the cars brakes is going to recharge its batteries, 35 amps of regenerative regenerative breaking that's all energy that's not been wasted else where on this race is the most important number when the current tank of gas, car is getting 79.5 miles per gallon. Back in 1968 as an engineering student at KELTEC Gremban help design and drive an electric battery powered Volkswagen bus, the Volkswagen wagon from Los Angeles to Boston to win the great electric car race against a team from MIT. Today he is leader of technology development for the California cars initiate or Calcars, a non profit group of engineers and marketers working with auto and component manufactures to promote the plug-in hybrid. Standard gas electric hybrid like the Prius equipped with extra batteries and a plug and module enabling the use of house hold electricity to charge the batteries and Ron is sitting in the back grove with the - I get 100 miles per gallon tee-shirt. Unlike regular hybrids that use a gasoline engine in combination with an electric motor most of the time, plug-ins can run on purely electric power delivered in an over night battery charge from a standard home wall socket for the first 25 to 30 miles of local driving speeds that means virtually no gasoline burn for driving around town which constitutes the vast majority of vehicle use around the world. Grembans license plate reads gas OBT. the technology delivers dramatic cuts in hybrid fuel vehicle consumption fifty percent - seventy percent better than a standard Prius which has already peoduced engine and if the extra battery charge runs out or you forgot to plug it in, car operates like a regular hybrid, with the gas engine charging the battery and kicking in for power when needed. So there is no limited range problem a deal killer for the all electric vehicles on the market in the 1990s that never grew beyond the smaller nudge. Now how many of you saw "Who Killed the Electric Car?", yes so you know there is there is a lot more to that story. A number of technology innovators and political leaders have even talked about pairing of plug in hybrid with flex fuel technologies. A fuel fuel tank that can run on a mix of up to 85 percent ethanol and 15 percent petrol gasoline. In this type of vehicle you might drive up to 500 miles before burning up a gallon of petrol based gasoline. That makes it if you will a true hybrid a hybrid and the one that we see is one of the greatest potential breakthroughs in business opportunities and vehicle efficiency. Welcome to today's world of clean tech transportation, a world full of vast business and investment opportunities and fork with high risks, designing ultra efficient low emissions vehicles to serve the mobility needs of the carbon constrained high oil high oil price years and decades ahead is truly one of the industries biggest challenges. These trends have already shaken up the global automobile industry which cranks out 65 million new vehicles a year in a major way, and no better example than Toyota moving ahead of general motors in overall sales. Rewarding sellers of efficient vehicles and even opening the door for start up clean car companies and one of the world's highest entry barrier businesses. So that's really to to me one of the more exiting things about Clean Tech is its its disruptive technology, it can really change you know even the most established industries in the world automobiles and energy and it is doing that so you got have got - how many of you heard about Testla motors, so you know just that the concept of of a silicon valley based car company and in fact an all electric 92,000 dollar sports car company is really you know some thing something brand new really kind of inconceivable a few years ago but because of the the forces that we talk about in the book, global forces truth are not going away, rise of China and India, the need to the the climate crises causing the need to reduce carbon emissions increasingly well fuel prices, fossil fuel prices increasingly going up and being very volatile, well at the same time Clean Tech as it matures the prices are coming down. All these forces and we we talk about this in the introduction, the confluence of these forces are combining to really drive this as a business and make it a - a major business opportunity. So just briefly the the eight technology chapters that we that form you know the most of the book, our first three are solar energy, wind power and bio fuels and bio materials. Those who are really the big three kind of right now in terms of where you see most of the venture capital going and and you know most of most of the business. And we we in in each chapter we have several features that we we do, one is called tend to watch that is at the end of each chapter where we identify ten companies than they they include US and foreign, they include private and public, large and small, that are companies that are worth keeping an eye on either their their stocks are going up or or we believe they will or they are not public yet but very attract- attracting lot of bugs and venture capital, any way just and some of them there is there is one company battery company in Texas called EE store that it its its so stealth they don't even have a web site, they don't have a web site but they do have venture capital funding from Kleiner Perkins, Silicon valley so part of the the stealthiness is is part of what them makes them a company to watch up. So the other technology chapters are green buildings, personal transportation, I read at the beginning of that chapter and we we we have called it personal transportation because we just it it focuses on cars and motor bikes and motor scooters which is a huge global industry. So you know Clean Tech versions of that and Ron says he has a friend who may be showing up here with the Vectrix motorcycle which is a very well powered all electric motorcycle, sort of the - I am not sure that Ron aggress, but it is sort of the Testla of of the two wheel industry. So I mean we could have written about hybrid locomotives and Richard Branson promoting bio fuels for aero planes but it was just too much I - our editor is here Genevieve Elsa right there and she was - she is terrific and she was great at saying you know got to got to keep this under control air. I - because I I think literally one of the biggest challenges in writing this book was, what not to include, there is - there is so much going on in Clean Tech that I have I have yet to do a Q&A section where some one didn't bring up some thing it was brand new to me. Some some new development whether its with LG or what ever. So its its it's a huge field there are I am sure are lot more books to be written about it, so we just you know had to stay focused. As it even here and I have only gotten through five of the of the eight technical chapters. The last three are the smart grid which means improving our current stupid grid when that that can cause millions of people to be punched into darkness on the east coast in 2003, because what started with a tree branch falling in to a power line because it's just you know this thing was designed over thee past few many decades with you know no no no planning and low tech and it's very inefficient so we talk about high tech technology, soft ware and and semi conductor based technologies that can can improve the grid and this you know this is as important Clean Tech as bio diesel and solar panels. Chapter on mobile technologies which is very interesting, it ranges from these solar blankets that the military can carry around and use in place of diesel generators which if you are you know trumping through the hills of Afghanistan is a major improvement on to solar powered chargers for your iPod really interesting stuff going on and then last tech chapter is on water filtration and this is a at Clean Edge we define Clean Tech as clean energy transportation water and materials. Water is obviously a huge global need, a global industry some people say water is the next oil, there is going to be worse water for water, so technologies that can dramatically improve the efficiency or - of water filtration and and water distribution are very critical and very profitable we believe and then that the book wraps up with two chapters of a different flavor. One is called create your own silicon valley and this is about efforts around the world by cities and regions to attract Clean Tech businesses for job creation and business development. It's a growing industry, it's you know, it's high skilled jobs it's well paying jobs you know regions and cities want those and San Francisco is one of the tent that we spot light but some of the others New York, Chicago might not come immediately to mind as you know Green cities but they are focusing on - in New York's case for example what does New York have more of than anyone else? Buildings, so green buildings they like to say they have more square footage of green building space in New York than all the buildings green or otherwise in Portland. And finally - I I grew up in New York - and the last chapter before the conclusion is called Clean Tech marketing lessons and this is - this was a really fun one to write called Clean Tech marketing lessons and this is - this was a really fun one to write looking at companies that are focusing on consumers with Clean Tech products and services and you know how do you sell that to get beyond just the crunchy granule and nudge if you will. A friend of mine who lives in Marin at least part of year when he is not living in France, but we will get into that Jordan Harris is co-founder of our New York city's first all hybrid car service. So instead of these big honking black limos, they are Prius and you know they pick up to the airport and do all the same. But here is the marketing lesson, it's not just a Prius that you can feel good about riding it. It's a Prius that has satellite radio, a wireless and Spare Mac laptop in the seat pocket in case you didn't bring your own. So there is a whole other value proposition beyond its good to be grained and that's really the - the point of that chapter is you have to offer innovation and value if you just say you know you should buy this because it is the right thing to do, you will get some people but it's not a you know it's very much in rich market. Then I think - I really want to allow lots of time for questions because I know this audience will have good ones so I'm just going to read one more passage and this is in fact the end of the book. So so okay Genevieve is it okay if i spoil the ending? This is a condensed version of the conclusion. The Clean Tech revolution is upon us. It represents the greatest economic and technological shift in modern history. The move from human reliance on fossil fuels to clean energy sources such as solar, wind, wave and bio fuels. The advent and embrace of clean water filtration and water purification technologies to alleviate global water distribution in equities and shortages. The development and deployment of a new class of transportation technologies that are ultra efficient, carbon neutral and optimized for a rapidly expanding global population and the flourishing of material science revolution that eradicates pollutants, replaces fossil fuel feed stocks with renewable ones and increases efficiency and performance. If companies, governments and individuals choose to move down this path with conviction in resources as many pioneering individuals and organizations have already begun to do, then we will be able to attack all the most pressing global issues about time while building our economies, increasing our collective security and guaranteeing brighter prospects for future generations. If we do not aggressively pursue Clean Technology, but continue down a business as usual path, we will overtax the earth's ability to support this growing population see increasingly violent verse over energy water and materials and face other unprecedented security and environmental threats. The purpose of this book however is not to use care tactics and create wide spread despair. That's something that many earnest but misguided environmentalists and skiers falling alarmists have done for years, nor is that - nor is it our aim to stubbornly ignore the challenges facing us in pate and unrealistic view of the world. One in which an environment - one in which, environmental and economic issues somehow exists separately as a small but powerful group of politicians and cooperate interest have contented, instead our goal is to shine alight on the most dramatic industrial shift in more than a century, the Clean Tech revolution and highlight the business and investment opportunities and challenges that come with it. We firmly believe that a transition to a Clean Tech future will not harmer or hinder our economy. As some entrench interests and critics would have to be relieved. On the contrary, Clean Tech is serving as the next great generator of high paying jobs, technological innovation and global comparativeness. We embrace what we call a pragmatic optimism that outlines realistic and achievable path ways to change by deploying the best emerging technologies, the most effective government policies and initiatives and the most proven financial and market based solutions we are in the midst of one of the greatest shifts in human history. Within 50 years we will look back the beginning of the 21st century and see at as tipping point for Clean Technology and as a human race, we will wonder how we ever operated without considering the twin concerns of balancing economics and the environment. We therefore believe the choice for investors, companies, governments and individuals is simple. Be part of one of the greatest business and economic shifts in recorded human history or become extinct like the dinosaurs whose fossils fuel the last grade in industrial revolution. The opportunity for wealth creation stands on one side of the equation and the very real threat of the collapse of civilation civilization as we know it on the other to borrow the words of former president Ronald Regan, "if not us, who and if not now, when". These words ring through today for the great challenge we face in serving the needs of the growing population in ensuring our long term and environmental and economic survival. We hope you will join us in the Clean Tech revolution. It offers the promise of untold profits for companies, investors and governments and individuals and we believe that is the most exiting and important revolution of our time. Thanks so much for being here.
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