Global Environmental Economics impacting CleanTech Growth - Navigating through global policies to fuel the growth of Green Technology in the US and Abroad

Online, April 29, 2010 (Newswire.com) - FOR IMMEDIATE RELEASE:

Waltham, MA April 29, 2010 - With a wide open sky view of the Cambridge Reservoir, approximately 75 guests gathered at the Emerging Enterprise Center at Foley Hoag and focused their attention on Diego Tebaldi, President of the IERG Boston Group as he welcomed an esteemed group of CleanTech Panelists.

In opening the meeting, Diego Tebaldi welcomed the moderator Dr. Victor Stancovski, CTO and Founder of Clean Energy Innovations, as well as the three expert panel members; Ms. Eva T Thorne, Principal at Corporate Government Solutions; Mr. John McLane Jr., President at Iridium Clean Energy; and Mr. Francesco Fragasso, CFO at Nuvera Fuel Cells.

The immediate issue addressed by the panel and followed by several questions from the attendees focused on the value today of so called "hybrid vehicles", their financial ROI and their true footprint - noting that in the US over 50% of electricity is generated by unclean coal. In directing the panel, Dr. Stancovski engaged the audience into the CleanTech discussion with reference to the 1920 electric cars and the similar fundamentals from the past 90 years. Although technology has evolved, what can be changed by the evolution of the political climate is still to be determined. Not much has moved in the way of green advancement up until recently. Take the example of "Who killed the Electric Car"? in response to the General Motors EV1 in the mid 90's that subsequently was destroyed and how the interrelation of the auto manufactures, big oil, the US government, electric resources and consumers caused a breakdown of a "Battery Generated Electric Vehicle".

Ms. Thorne indicated that some countries in Latin America made the hard choices years ago to move to renewable or greener technologies, citing Brazil and its ethanol advantage and that there is a question in the US as to whether there is the correct balance of policy and incentives to drive to the correct objective. Mr. Fragasso pointed out that investment in appropriate infrastructure is paramount for the future deployment of cleaner fuels, like hydrogen, whereas there is a tendency for auto manufacturers to look at hydrogen as their long-term future goal, it needs to be understood that steps will have to be taken to get there - and hybrid cars are an example. Mr. McLane highlighted that US companies trying to catch up with their oversees counterparts who are ahead of the curve are looking at protective instruments in order to mitigate political and economic risk in foreign direct investment within the CleanTech fields, and that similarly overseas producers of equipment want to mitigate the liabilities from a potentially "lawsuit prone" US market where the performance of these new technologies are still to be corroborated.
Eva noted that "Due to the support of the Brazilian government in creating renewable energy solutions and "seeding" investments to reduce risk, Brazilian companies and their environmental economy has been able to flourish with substantial growth. Brazilians have a huge geography and they receive almost 75% of their power from hydroelectric power, and 90% from renewable energy sources overall." It's because of the governments' ambitious program to reduce the dependence on imported oil that set in motion alternative fuels progression. Even with the controversial 11 Billion Belo Monto Peruvian Hydroelectric project, Brazil is a powerhouse when it comes to the manufacturing and exporting of biofuels and sugar-based ethanol's, making it a leader in the renewable energy space.

In summary, the moderator and panelist's diverse perspectives and insights aligned to confirm that there is a true business market for renewable and cleaner technologies, but that there needs to be some sort of mechanism to incorporate hidden costs of the more "traditional" sources in order to have a true view of a return on investment - and that the fragmentation of policies and incentives across the US needs to be sown together by a more prominent federal vision as has been successfully created in similarly decentralized countries.

It is due in part to the lack of a national framework that potentially inhibits "Green" growth on US soil. Only time will tell the direction of renewable energy and the advancements in CleanTech in the US and abroad. It will be a matter of a collective response to move CleanTech forward as a top initiative and gain national support to ensure the success of innovation and advancements for future generations.

ABOUT THE IERG:
International Executive Resources Group, Inc. (IERG) is a 501(c) (6) non-profit corporation, founded in 1997 in New York City as a one-of-a-kind volunteer organization of senior business executives from around the world. Its day-to-day operations are led by an ad honorem Steering Committee and Chairman. The group has over 500 members in more than 20 countries. IERG members include CEOs, COOs, CFOs, Presidents, Managing Directors and other leaders in senior international roles or with major global responsibilities. Their common denominator is significant experience on both the domestic and global marketplaces. The IERG has active chapters in New York, Boston, Florida and China. IERG - the source for global business expertise! To learn more about the IERG or to become a member, please visit www.IERGonline.org or email Boston@IERGonline.org.