By Jill Heller | September 04 2012 6:44 PM
The government must swiftly begin spending $83 billion in the stimulus law for cleantech, or recent growth in the sector will quickly turn into bankruptcies, according to a study released on Tuesday.
Urgency surrounds numerous cleantech companies, said the report by PriceWaterhouseCoopers on the progress of venture-backed alternative energy companies.
Cleantech, or the use of technology to improve productivity while reducing costs and energy consumption, is a focus of President Barack Obama's new administration. Obama has said that stimulus money is needed for cleantech to address climate change and to create jobs.
Money must start flowing for cleantech from the $787 billion stimulus bill by July to avert a raft of potential bankruptcies or crippling retrenchments through 2009, the report said.
The capital and exit markets are shut down, said Tim Carey, U.S. cleantech leader for the PriceWaterhouseCoopers. The exit market means selling off start-up companies to other firms, or taking them public.
He said companies that had planned to ramp up instead found themselves on the sidelines, unable to take the next step.
The PriceWaterhouseCoopers report said venture capitalists have increased their investment in cleantech by 1500 percent in recent years, from $271 million in 2003 to $4.1 billion in 2008.
Solar energy, at $1.8 billion last year, has been the biggest beneficiary of the increase in venture money. That outstripped investments in alternative fuels at $639 million, pollution and recycling at $436 million, transport at $142 million and wind and geothermal at $117 million, the report said.
The number of deals involving alternative energy last year exceeded those in past years. There were a record 180 deals, led by 53 in solar.
The recession has meant venture capitalists have had a far more difficult time selling companies they develop to other companies or making initial public offerings, the report said.
But at least last year, the study found that venture capitalists had invested in 180 new projects, led by solar.
The top four venture-backed firms named in the report are all solar companies: Nanosolar at $300 million, Solyandra at $219 million, SolarReserve at $140 million and OptiSolar at $132 million.
(Reporting by David Lawsky, editing by Matthew Lewis)
Gorgeous supermodel Marisa Miller is expecting a baby boy, and she hasn't been afraid to show off her baby bump. The model and actress recently tweeted a photo of her growing baby bump on her birthday, in an underwater photo. "Thanks so much for all the sweet birthday wishes!" Miller wrote to fans. "Love you all! I had the best day and spent most of it underwater."
Miller, 34, announced in June that she and her husband, Griffin Guess, who were married in 2006, were expecting a child together. And in July, they happily announced that it would be a boy, and that Miller's due date was some time in December.
"We just found out that we are having a ... BOY!!! We would be excited either way, but it was amazing to know for sure," Miller told People Magazine.
"Griffin and I have spoken so much about having babies throughout our marriage. We already have enough names for three kids, haha!" said Miller, in a blog post for People. "It's always been a time we really looked forward to. I know you can't plan everything in life, but I knew that I wanted to really enjoy my pregnancy and have time to revel in motherhood as well."
But Miller, who is hailed in the industry for her toned, athletic body, admitted that although starting a family was a longtime dream for her and Guess, she postponed it due to the physical demands of her job. "My career is so focused on the physical that I really didn't want the pressure on or to have to worry about anything that happened to my body during that time," wrote Miller.
"There was so much freedom in letting go of my appearance because the reason for all these symptoms was this miracle growing inside me. I really could care less about what I looked like."
Miller's career -- she began modeling at 16 and appeared in the magazine Perfect 10 in 1997 -- didn't really begin to take off until 2001. That year she was discovered by famed photographer Mario Testino, and soon after began getting offers to do high profile jobs. At the time, however, she was still operating a surf school in Manhattan Beach, Calif.
Miller has since appeared on more than 80 magazine covers, including Sports Illustrated, Maxim, GQ, and FHM, who named her the Sexiest Woman in the World in their August 2010 issue. Miller is also set to appear in the film "R.I.P.D." with Ryan Reynolds and Mary-Louise Parker in 2013.

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