Sopogy News

By - John Rei, Chief Operating Officer

Sopogy, Inc. has entered the Hawaii solar energy market with a new twist on solar power, offering a product based around solar thermal, or concentrated solar power (CSP), technology. Sopogy, which stands for Solar Power Technology, aims to bring renewable solar energy technologies to Hawaii and its people for energy stability, the betterment of clean air, and independence from volatile imported fossil fuel prices. The company is the brainchild of CEO and President Darren T. Kimura, a local entrepreneur born and raised on the Big Island that has been involved in energy efficiency and renewable energy projects for over 15 years. He built Energy Industries, a business focused on energy efficiency that has grown beyond Hawaii to become an international business with offices in the mainland and throughout the Asia Pacific. The idea for Sopogy came from Energy Industries Labs, his clean energy technology incubator.

CSP is a mature technology that offers greater efficiencies and lower costs than traditional solar photovoltaic, or PV. CSP also has a proven track record, having provided large scale electricity generation in California for the past 22 years. While normally employed in dry, hot climates like the deserts in the southwestern U.S., Sopogy has modified the technology to work in wet and sunny tropical climates like Hawaii to provide solar generated electricity or air conditioning.

Sopogy plans to begin construction on a 10 MW solar farm at the National Energy Laboratory of Hawaii Authority (NELHA) on the Big Island later this year, and will also employ their products to meet the electricity and air conditioning needs of commercial and industrial clients as well. Given the more favorable economics of CSP systems when compared to solar PV, along with the current state and federal incentives for such renewable energy projects, Sopogy sees a great opportunity to implement this clean, renewable energy technology throughout the state.

Sopogy firmly believes that CSP can and should be an important part of Hawaii’s renewable energy portfolio to reduce the state’s dependence on foreign oil and to provide clean, environmentally friendly power throughout the state.

More information on this local solar technology company can be found on their website at www.sopogy.org.


Rotary Club - Sopogy

Let’s say you’re stuck in a bind. The tables have turned. Perhaps a figurative rug has been pulled out from under you. What then? All of a sudden your mind sparks with an “a-hal” In this year’s Business Game Plan, our speakers wi ll be sharing critical lessons in personal leadership- revelat ions that have shaped their lives, organizations, and in many cases, are contributing to the greater good of our islands.

Darren Kimura founded Energy Industries in 1994 . Today it generates long-term energy and maintenance cos t savings for clients in Seattle, Spokane, Portland, San Jose, Houston , Chicago, Honolulu, Guam, the Philippines and Hong Kong. He has served as a speaker for the U.S. Department of Energy and the EPA, and was awarded the Young Entrepreneur of the Year for Hawaii, California, Nevada, Arizona and Guam.


Sopogy at Wayne Brown Institute   

Twenty-Three Companies to Present at the Wayne Brown Institute’s 23rd Annual Investors Choice Venture Capital Conference – Utah


(PRLEAP.COM) More than 20 companies will present at the Wayne Brown Institute’s 23rd Annual Investors Choice Venture Capital Conference – Utah, entitled, “Putting Together the Pieces – Introducing the Fundable Venture,” to be hosted February 8, 2007 in Salt Lake City.0 for any additional conference attendee(s) from the same firm.

The conference provides opportunities for organizations from across the United States to participate in the venture capital process as investors meet with companies and individuals seeking capital for business ventures. Since the conference’s inception 23 years ago, alumni companies have successfully raised a total of more than $1.8 billion based on strategic alliances formed at the conference.

“Participation in the Investors Choice conference is one of the most effective ways a company can raise the capital it needs and reach the next level of its organizational goals,” said Brad Bertoch, president of the Wayne Brown Institute. “We are confident this year’s event will continue to provide education and experience for companies wishing to learn the venture process, build a fundraising presentation and meet with venture, corporate and angel investors.”

The complete list of companies scheduled to present at the conference is as follows, along with each organization’s Internet URL:

§ Alias Semiconductor, no URL available – Seattle, WA
§ AlphaSpine, www.alphaspine.com – American Fork, UT
§ Aviacode, www.aviacode.com – Salt Lake City, UT
§ Caveon, www.caveon.com – Draper, UT
§ Clear Play, www.clearplay.com – Salt Lake City, UT
§ CoMet Solutions, www.cometsolutions.com – Albuquerque, NM
§ eXpresso, no URL available – Park City UT
§ Flying Sensors, www.flyingsensors.com – Salt Lake City, UT
§ High West Distillery, no URL available – Park City, UT
§ Innovasic Semiconductor, www.inovasic.com – Albuquerque, NM
§ iWorld, no URL available – Pleasant Grove, UT
§ Know More Media, www.knowmoremedia.com – Orem, UT
§ LignUp, www.lignup.com – Salt Lake City, UT
§ Lingotek, www.lingotek.com – Provo, UT
§ Nanopoint, www.nanopointimaging.com – Honolulu, HI
§ Precision Surveying Solutions, www.pssllc.com – Provo, UT
§ Q-Therapeutics, no URL available – Salt Lake City, UT
§ Simpliphones, http://simpliphones.com – Orem, UT
§ Sopogy, www.sopogy.org – Honolulu, HI
§ Techniscan, www.techniscan.com – Salt Lake City, UT
§ ThromboVision, www.thrombovision.com – Houston, TX
§ Transparient, www.transparient.com – Salt Lake City, UT
§ Wasatch MicroFludics, no URL available – Salt Lake City, UT
§ Xapio, http://xapio.com – Salt Lake City, UT

Sponsors for this year’s event include Zions Bank, Ballard Spahr Andrews & Ingersoll, LLP, Governor’s Office of Economic Development and NASDAQ.

More information about the Wayne Brown Institute is available online at www.venturecapital.org or by calling 801-595-1141.

About The Wayne Brown Institute
Located in Salt Lake City, the Wayne Brown Institute is the oldest, most successful non-profit venture capital accelerator in the world and was formed in 1983 by Dr. Wayne S. Brown. It seeks to educate early-stage companies through mentor-based training in the methods of becoming attractive, viable investments for venture capitalists, while creating value-added relationships between entrepreneurs, capital providers and key professionals specializing in equity-backed business. The Wayne Brown Institute is nationally recognized for its expertise in understanding and applying the venture capital funding processes of Silicon Valley to areas that are capital constrained


Sopogy in the Honolulu Advertiser Feb 2007

TECH COMPANIES TO WOO INVESTORS

Nanopoint Inc. and Sopogy Inc., two Hawai’i-based technology companies, will be among the companies making presentations to investors at next week’s Investors Choice Venture Capital Conference in Utah. The conference is billed as a way for companies to meet with venture capitalists as they seek funds to build their companies. Nanopoint is a biotechnology company developing cellular imaging systems for the life sciences market. Sopogy is working on increasing renewable energy production through its concentrated solar power technologies.


Report Title:

Special Purpose Revenue Bonds; Sopogy Inc.

Description:

Authorizes the issuance of special purpose revenue bonds in an amount not exceeding $10,000,000 to assist Sopogy Inc. with planning, designing, construction, equipping, and operating a solar farm power plant at the Natural Energy Laboratory of Hawaii to produce electricity from solar power.


HOUSE OF REPRESENTATIVES

H.B. NO.

334


Sopogy Press Release

PRESS RELEASE

FOR IMMEDIATE RELEASE

Date: February 2, 2007

Subject: Jim Maskrey joins Sopogy as Vice President of Business Development

Contact: Darren T. Kimura, President and CEO

Tel: (808) 216-3478

email: dkimura@sopogy.org

Jim Maskrey Joins Sopogy as Vice President of Business Development

Honolulu, HI - Sopogy, Inc. announced today that Jim Maskrey has joined the company as its Vice President of Business Development. Mr. Maskrey has more than 25 years of experience in solar and energy technologies, and was most recently the manager of Hawaiian Electric Company’s Demand Side Management program for commercial and industrial customers. In this role he was responsible for the issuance of energy efficiency rebate incentives for customers who implemented efficient technologies. Prior to Hawaiian Electric he was the business development manager of DMC a national energy management company. He began his career at the Solar Energy Research Institute which is now known as the National Renewable Energy Laboratories. Mr. Maskrey is active in Hawaii’s energy community as the President of Rebuild Hawaii Consortium, Chair of the Environmental Committee of the Chamber of Commerce of Hawaii and is a member of the Hawaii Electricity Reliability Advisory Committee. He holds a Masters of Environmental Planning degree from Arizona State University, his Masters in Business Administration from the University of Hawaii and a Bachelors of Arts from the University of California at Santa Barbara.

About Sopogy, Inc.

Sopogy, Inc. (www.sopogy.org) is a Hawaii based solar technology company dedicated to enabling the renewable energy economy by dramatically increasing energy production through widespread use of its Concentrated Solar Power (CSP) technologies. Sopogy offers a cost-effective method for producing electricity and by-products that include steam, desalination, hydrogen, absorption cooling and hot water heating.

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For additional information about Sopogy, Inc., please contact Darren Kimura, President & CEO at (808) 216-3478 .


Solar Company Sopogy Raises Series A Financing

After six years in development, solar concentration technology developer Sopogy Inc. has emerged from a Hawaiian energy incubator and raised approximately $3 million in angel financing, VentureWire has learned.

The Honolulu-based start-up is the brainchild of Darren Kimura, chief executive officer and chairman of the Hawaiian energy project management firm Energy Industries LLC, and its start-up incubator Energy Laboratories.

“Back in 2001, I created Energy Laboratories, which is our cleantech incubator,” Kimura said. “Energy Laboratories and myself provided the angel capital before the Series A financing [for Sopogy].” The latest financing was raised from individual investors and a syndicate of angels.

Sopogy, which stands for solar-powered energy, has developed a solar technology based on thin-film solar cells and thermal fluid heat transfer, Kimura said.

Currently, the company has manufacturing capacity to produce approximately 30 megawatts of power, but Sopogy is in the process of raising an additional round of financing that would be used to increase capacity to approximately 300 megawatts, Kimura said.

The company, which has five employees, has been granted one patent and has another five pending on its technology, according to Kimura.

Sopogy is currently marketing two products: one designed for commercial and light industrial use and a smaller module for consumers. One of its largest customers is Hawaiian Electric Inc.

http://www.sopogy.org


Sopogy in VentureBeat

Sopogy receives a mention on www.venturebeat.com. Click link to visit site.

Green technology rages

By Matt Marshall 01.25.07 11:29 AM

greentech.bmpInvestments into new green technology companies tripled last year, and the trend continues unabated.

The President is pushing for alternative energy investments, and Al Gore’s Inconvenient Truth gets nominated for two Oscars, which will only add fuel to the fire. The spigot is fully open. We’ve seen more green-related fundings today than ever before. Here are the latest:

–See our story today about A123Systems, the lithium-ion battery company that wants to make better electric cars. It just got $40M.

Nexterra Energy, of Vancouver, a developer of waste-to-energy gasification systems, has just raised $6.8 million in a third round led by ARC Financial.

Sopogy, a Honolulu developer of solar concentration technology, has emerged from a long incubation period (six years) and received $3 million in angel financing, according to VentureWire (sub required)

Sulfurcell, a Berlin solar module maker, using thin-film solar technology (which lets you essentially paint solar cells onto roofs and parking lots), has raised under $10 million in a second round of funding. Masdar Clean Tech Fund LP, managed by Credit Suisse Group, led the round, and previous investors, including angel investor Engelbert Giesen, IBB Beteiligungsgesellschaft, Vattenfall Europe AG and Ventegis Capital, also participated. It has raised a total of $32 million to date. Silicon Valley companies Miasole and Nanosolar are doing similar things.

–Vancouver’s Day4 Energy, has raised $11 million more to market its highly efficient solar panels. British Columbia Discovery Fund led the round, after having invested $2.8 million earlier.


Sopogy honored by Hawaii Venture Capital Association

Hawaii Venture Capital Association
Deal of the Year – 2006
Hoana Medical, Inc. Tops the List
Award Luncheon Thursday, January 25, 2007

It was a banner year for venture investing in Hawaii as several of Hawaii’s most innovative companies attracted investment capital from within and outside of the state. Thanks to Hawaii’s vibrant climate for technology start-ups, the Hawaii Venture Capital Association is proud to acknowledge Hoana Medical, Inc., as this year’s Venture Capital Deal of the Year award winner. Hoana Medical, Inc. has raised $20.9 million dollars in a $15 million dollar Series D financing. A medical device company founded in 2001, Hoana Medical, Inc. is a spin-off company from Oceanit—one of Hawaii’s largest and most diversified science and engineering companies. Working with Oceanit, Hoana Medical, Inc. incorporated futuristic patient safety technology into everyday medical applications. “During this round of financing we were able to partner with some great investors - nationally and internationally,” said Patrick Sullivan, CEO and founder of Hoana Medical, Inc. “We exceeded our target in less than 8 weeks, eventually turning down investors. The speed and size of the investment underscores the enormity of the patient safety problem Hoana is addressing, and our ability to capture and dominate this untapped segment. This is just the beginning for us, and we are looking forward to working with our partners and investors to continue our expansion efforts.”

HVCA also acknowledges the following companies for their fund raising efforts: Hawaii Nano Sciences, Hawaii Biotech, Cardax, AssistGuide and Sopogy. The combined total amount raised by Hoana and these companies approaches forty million dollars. “The successful fund raising accomplished by these companies as well as several others demonstrates that Hawaii, mainland and foreign investors are recognizing the significant potential and world-class status of our growing innovation sector,” said Bill Spencer, President of the Hawaii Venture Capital Association.

Hoana Medical CEO, Patrick Sullivan, will be the keynote speaker at the Deal of the Year Luncheon, being held Thursday, January 25th, 2007 at the Plaza Club. HVCA members and the public are invited to celebrate the accomplishment of Hoana and five additional companies slated to receive honorable mentions. The entrepreneurs behind the companies receiving an honorable mention will also address luncheon attendees about their fundraising and future plans.


Sopogy Press Release
PRESS RELEASE
FOR IMMEDIATE RELEASE

Date: January 15, 2007

Subject: John Rei joins Sopogy, Inc. as Chief Operating Officer

Contact: Darren T. Kimura, President and CEO

Tel: (808) 216-3478

email: dkimura@sopogy.org

John Rei Joins Sopogy, Inc.

HONOLULU, HI – Sopogy, Inc. announced today that John Rei has been appointed Chief Operating Officer. Prior to joining Sopogy, Inc. Mr. Rei spent over 5 years at Booz Allen Hamilton where he served as strategist in their energy pratice. Mr. Rei holds a Bachelors in Aeronautical Engineering from the United States Military Academy at West Point, and a Masters in Business Administration from Harvard University Graduate School of Business Administration.

About Sopogy, Inc.

Sopogy, Inc. (www.sopogy.org) is dedicated to enabling the renewable energy economy by dramatically increasing energy production through widespread use of its Concentrated Solar Power (CSP) technologies. Sopogy offers a cost-effective method for producing electricity and by-products that include steam, desalination, hydrogen, absorption cooling and hot water heating.

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For additional information about Sopogy, Inc., please contact Darren Kimura, President & CEO at (808) 216-3478 .


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