44
Vattenfall
Stockholm, Sweden
Public
Utility
Lars Joseffson, CEO

The fourthlargest power generator in Europe started work last year on the first carbon-free coal-fired power plant, in Germany, which will come on line in 2008. CEO Lars Joseffson is an adviser on climate change to German chancellor Angela Merkel, a member of Sweden's new Commission for Sustainable Development and a prominent advocate for a worldwide carbon market. The company has pledged to cut its emissions by half by 2030, and is one of the largest users of biomass for CHP plants. It is also funding wave research to build on its existing renewable power portfolio of offshore wind, hydropower and biomass.

50
Greenko
Hyderabad, India
Private
Utility
Anil Kumar
Chalamalasetty, CEO

Greenko was created in 2006 to develop, own and operate independent clean energy projects in the high-growth markets of Asia. As well as generating clean energy, Greenko provides extensive services to projects which capitalise on the compliance market around the Clean Development Mechanism (CDM) of the Kyoto Protocol, as well as voluntary trading. It aims to own and operate projects that would have an annual generation capacity of 2.5bn kWh by 2010, thereby reducing upwards of 2m tonnes of carbon dioxide emissions a year. Greenko is supported by a multinational team specialising in clean energy.

51

Airtricity develops and operates wind farms across Europe and North America, and is both a generator and supplier of green electricity. It currently supplies to more than 35,000 commercial customers in Ireland. Airtricity has a programme of improving its own environmental performance, which includes an annual environmental report, an employee environmental survey, a carbon dioxide calculator to work out annual emissions, and an environmental health and safety management system, based on environmental standard ISO 14001. Airtricity is heavily involved with the development of offshore wind farms, which it is exploring through partnerships with international companies.

52
Konarka
Lowell, Massachusetts, US
Private
Clean tech
Rick Hess, CEO

Konarka produces a light-activated 'Power Plastic' that it says is flexible, lightweight, lower in cost and more versatile in application than traditional silicon-based solar cells. These new materials are made from conducting polymers and nanoengineered materials that can be coated or printed onto a surface in a process similar to how photographic film is made. The company claims its technology can make use of a wider range of the light spectrum than conventional solar cells, and is cheaper and more environmentally friendly to manufacture. The company was founded in 2001 following a research project for the US Army.

53
Ocean Power Technologies
New Jersey, US
Public
Renewable
energy ' wave
Dr George W Taylor

Ocean Power Technologies, specialising in wave energy, completed its US IPO and listing on Nasdaq last April. OPT has focused on its proprietary PowerBuoy technology, capturing wave energy using large floating buoys anchored to the sea bed and converting the energy into electricity using innovative power take-off systems. The company has begun the initial phase of installation of a 1.39MW wave farm off the northern coast of Spain, a joint venture with the Spanish utility Iberdrola (see entry 1). A full-size demonstration plant of up to 5MW capacity is planned for installation in UK waters.

54
Offshore Wave Energy
Launceston, UK
Private
Clean tech
John Kemp, CEO

Offshore Wave Energy has developed and patented a wave energy device, which traps and compresses air in successive wave troughs. The compressed air is accumulated in a reservoir and is then used to drive a turbine and thus generate power. The devices can be situated on floating platforms, and could be added to offshore wind turbine facilities. Trails have confirmed the technical performance of the wave energy converter design and the commercial viability of the concept. QinetiQ carried out initial trials, and now a final development phase is planned leading to sea trials off Orkney, Scotland, UK.

55

Europe's largest solar panel components maker remains well placed to benefit from generous solar subsidies in Europe and the US, with analysts saying it has a breakthrough technology that will double the efficiency of solar panels. It has moved to secure a long-term supply of silicon, one of the key constraints of future growth and believes it can deliver solar power at the same price as fossil fuel energy by 2014. The group is branching out from photovoltaics to wind power through subsidiary Epuron, which aims to build the largest wind project in Australia. Conergy increased revenue for the first nine months of 2007 by 67% to '€641.1m (previous year '€384.5m), although this fell short of expectations.

56
Goldman Sachs
New York, US
Public
Banking
Lloyd C Blankfein, CEO

It started with a 680,000 acre donation of a tract of Chilean island Tierra del Fuego to conservation in perpetuity in 2003. A full environmental policy followed in 2005 and the big news last year was Goldman's central role alongside Texas Pacific in buying out Texan utility TXU in a '€30bn deal swathed in environmental considerations. Eight of 11 planned coal fired powerstations were cancelled, and TXU's stock rebounded as a result. Goldman have also funded a Centre for Environmental Markets and invested '€680m in renewables. Goldman Sachs is working towards LEED gold certification for its offices.

57
Itron
Liberty Lake,
Washington State, US
Public
Clean tech
Leroy Nusbaum, CEO

'You cannot manage what you cannot measure' is a business adage that is standing Itron in good stead. Smart metering is becoming far more widespread, with various governments in Europe and the US mandating the roll-out of compulsory smart meters to help cut energy consumption ' the products can cut usage by 5%-10%, as well as reducing blackouts and helping to integrate decentralized generation. The US smart metering company has a commanding 50% of the market after buying European rival Actaris for '€1.7bn in 2007. Fair set to milk future regulation.

58
Harris & Harris
New York, US
Public
Financial
Charles Harris, CEO

A publicly quoted venture capital firm that invests only in nanotechnology companies, Harris & Harris's portfolio is heavily skewed towards clean energy because of nanotech's ability to improve fuel efficiency by making materials lighter and stronger, to boost the efficiency of solar cells, to cut power consumption in a range of applications and to create new paint-on insulation products. The ability to build from the atomic level up is the ultimate in sustainable development, in terms of materials and energy use, claims chief executive Charles Harris, and will become widespread within 20 years.