PetroAlgae Inc., a developer of systems to derive biodiesel fuels from algae, announced that it has closed on a US $10 million capital raise through the sale of approximately 3.2 million of newly-issued shares of common stock to two existing investors.

To use an old cliche, it's been a banner year here at RenewableEnergyWorld.com. Despite the worldwide downturn of financial markets and the global credit crisis, many Renewable Energy companies continue to thrive and our publication is no exception.

A new program undertaken by the University of Michigan (U-M) and Franuhofer will award seed money grants of up to US $200,000 annually for two years to projects that explore alternative energy innovations for transportation.

This year was dominated by bad financial news — very bad financial news. Renewables have certainly had their fair share of troubles associated with the financial crisis; yet somehow they've seemed to fare better than most industries. It's still uncertain how a financial hangover will impact development in 2009, but most analysts agree that any global slowdown will be moderate, especially considering how drastic and far-reaching the credit crisis has been thus far.

On December 22, the U.S. Department of Energy (DOE) announced its intention to provide up to US $200 million (subject to appropriations) from FY09-FY14 to support the development of biorefineries producing advanced biofuels such as butanol, green gasoline, and synthetic diesel made from algae, cellulosic energy crops, wastes, residues and other biomass feedstocks.

Policies that affect the renewable energy industry are as diverse as the nations, regions and communities that enact them. The year 2008 saw both progress and regression in some of these policies with the U.S putting in place an 8-year federal tax credit for solar energy and Spain reducing its feed-in tariff levels, leaving many developers scrambling to finish projects as quickly as possible.

Covanta Holding Corporation announced that its purchase of two biomass energy facilities from co-owners Ridgewood Maine, L.L.C. and Indeck Energy Services, Inc. has been completed.

Colorado firm uses micro-organisms to turn coal into methane underground.

Some installers and devlopers snatch up panels at bargain prices, while credit crunch limits others' participation.

The U.S. Department of Energy (DOE) announced on December 18, 2008, the award of new Indefinite Delivery Indefinite Quantity (IDIQ) Energy Savings Performance Contracts (ESPCs) to sixteen Energy Service Companies (ESCOs). These contracts could result in up to US $80 billion in energy efficiency, renewable energy and water conservation projects at federally-owned buildings and facilities.

Dutch foundation develops system for finding, funding and tracking small-scale water sanitation projects across the globe.

Science Applications International and General Atomics secure contracts through 2010 to help commercialize biofuel for military jets and vehicles.

Georgia plant expected to power 10,000 homes using materials from local forest industry starting in August.

New membrane allows for cheaper components, such as nickel, but restricts power output.

The GTZ (German Technical Cooperation - the federally owned Enterprise) suppoted the Congress in India by becoming a Knowledge Partner. EuroAkadem - Academy for European Management, Germany - Initiator and Official Organiser of the Congress Who should attend: The representatives of business development, purchasing, quality management, finance, trainee programs from: • the OEMs on Solar, Wind & Geothermal, Automotive Industry, Transport Fuel Sector; Zero–Carbon Buildings; Waste Management • the Western Components Manufacturers • the Indian Producers and Suppliers Universities, Business Schools International Banks, Consulting and Investment Institutions The representatives of Indian Governmental Organisations and climate politics worldwide Panels: Solar, Wind&Geothermal, Green Automotive Industry, Transport Fuel Sector; Zero–Carbon Buildings; Waste Management; Education; Health

POET Biorefining – Laddonia, Mo. is undergoing a $2 million expansion that will increase the plant's capacity and provide a larger market for locally produced corn.

A Japanese power plant is using biomass updraft gasification technology to deliver 2 megawatts (MW) of CHP capacity. Located 400 kilometers north of Tokyo, the plant uses technology licensed from Denmark-based Babcock & Wilcox Volund A/S, a subsidiary of Babcock & Wilcox, to turn 60 tonnes of wood chips a day into wood gas.

At the recently held 2008 Phase II of Renewable Energy in America National Policy Forum, hundreds of renewable energy executives, financial experts and policy makers gathered on Capitol Hill to discuss the state of renewable energy today.

U.S. venture capitalists predict that cleantech will be the only sector that won't see a decline in 2009.

Companies paid up to $5B each based on the actual savings of energy and water.