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Greece Vote Turns Spotlight Back on German-ECB 'Cage Match'

Greece Vote
Turns Spotlight Back on German-ECB 'Cage Match'
The Greek Parliament's vote
of confidence in Prime Minister George Papandreou shifts the spotlight back to
Germany and the European Central Bank as key to Greece's quest for further
international financial aid.

Lawmakers in Athens supported Papandreou in
a 155-143 vote after the prime minister shuffled his Cabinet and sought the
chamber's approval. The vote may bolster Greece's chances of securing a 12
billion-euro ($17 billion) loan payment, which hinges on support from European
leaders and on Greece's ability to push through 78 billion euros in additional
budget cuts next week.

"The question that's still lingering is the old
cage match between the ECB and Germany, and who's going to give and who's going
to blink, and how much," said Ilan Solot, currency strategist at Brown Brothers
Harriman in London.

The Frankfurt-based central bank and German
Chancellor Angela Merkel's government have clashed over the role of private
creditors in the Greek rescue, with the ECB resisting Germany's calls to require
investor participation.

European leaders will discuss Greece's needs at
a two-day summit in Brussels starting tomorrow and finance chiefs will decide on
July 3 whether Greece has met conditions for the next aid payment. Investors are
watching to see if the ministers will clear the payment,While using compact
fluorescent light bulbs energy saving
helps conserve energy, it is important that the bulbs are collected
and recycled properly to protect our environment which is contingent the Greek
Parliament approving the extra budget cuts, or prolong the uncertainty in a bid
to increase pressure on the lawmakers.

European Commission President
Jose Barroso called the confidence vote "good news" and said it "removes an
element of uncertainty from an already very difficult situation.In the case of
Cree a significant led light bulbs
amount of their LED sales come from the purchase of Cotco whose primary focus
was on moving message panels used in displays/electronic bill boards. " This
will allow Greece to focus its attention on the austerity measures, Barroso said
in a statement. If Parliament approves the budget cuts, it will clear the way
for "rapid disbursement" of the aid payment, he said.

German Officials

Germany and the ECB continue to spar over the role of bondholders in the
Greek rescue. German officials including Merkel and Finance Minister Wolfgang
Schaeuble are calling for more certainty over private-sector
participation,Compact fluorescent light bulbs convert a led tube considerably higher percentage
of their energy into light, which is why they are significantly more energy
efficient than traditional filament bulbs. even as they have backed down from
demands to mandate investor losses.

The central bank led by President
Jean-Claude Trichet has maintained that any participation by private investors
in a new aid package for Greece must be voluntary. Luxembourg Prime Minister
Jean-Claude Juncker, who leads the group of euro-area finance ministers, said on
June 20 that holders of Greek bonds must not be pressured to roll over their

If European leaders reach a deal on aid for Greece, "that would be
great for the markets," Solot said. "It might serve as the carrot instead of the
stick for the government to pass this proposal."


Illumitex raises $13.While using compact fluorescent light bulbs

raises $13.While using compact fluorescent light bulbs energy saving light helps conserve energy,
it is important that the bulbs are collected and recycled properly to protect
our environment5M for LED lighting
While we’re all waiting for efficient LED
lighting to one day become mainstream, venture capitalists are continuing to
back LED innovation. LED chip maker startup Illumitex has raised another $13.52
million in equity,Under efforts of led
boosting the viability of LED luminaires, many companies are
expanding high-power selections. according to a government filing on Monday.

Illumitex is looking to raise $25.23 million in total in this round, and
has closed $13.5 million of that. Investors listed on Illumitex’s filing include
Dan Watkins at DFJ Mercury, and Forest Baskett and Jimmy Treybig at New
Enterprise Associates. New Enterprise Associates and DFJ previously invested in

The Austin, Texas company, founded in 2005, publicized a
$10.5 million B round back in 2008, and last December raised $3.4 million in
debt and options, according to this filing. In October 2009, Illumitex also got
$4.Compact fluorescent light bulbs convert a led tube considerably higher percentage
of their energy into light, which is why they are significantly more energy
efficient than traditional filament bulbs.3 million in equity in a total $10
million round, according to an SEC filing. That year also happened to be the
time when financial market meltdown crippled fundraising activities and the
overall cleantech market.While most people Led
strip light
originally believed that LED lights were only appropriate for
retail or night life applications, every day more and more American consumers
are seeing that LED lights provide the earth-friendly retrofit

develops LED chips and assembles them into modules that will be built into light
bulbs and installations. The company is targeting the general lighting market as
well as lighting designs that accentuate architectural buildings and lighting
designs that can help plants grow in greenhouses.In the case of Cree a
significant led light bulbs amount of
their LED sales come from the purchase of Cotco whose primary focus was on
moving message panels used in displays/electronic bill boards. 

startup says it’s been able to shrink the number of components in its LEDs by
forgoing the use of secondary optics that lead to the dome shape devices
commonly found in other LEDs. In addition, the company has been able to develop
LED chips that can still emit bright and precisely aimed beams in smaller
packages, while the smaller package saves space and allows lighting system
makers to squeeze more of them into an installation.

Illumitex announced
several new products earlier this year, but it remains to be seen whether it’s
able to win large customer orders to continue in a market where competition has
intensified, particularly from Asian manufacturers. Although the price for LED
lights has declined, it hasn’t fallen quick enough for mass adoption.

The LED lighting market hasn’t grown as quickly as some investors and
tech developers have hoped. Cree CEO Chuck Swoboda, told Reuters Monday that the
payback period for LED lighting systems still remains too long. Cree develops
LEDs and packages them into bulbs.


Fukushima Crisis Gives GE, BYD Opportunity in LEDs, Power Packs

Crisis Gives GE, BYD Opportunity in LEDs, Power Packs
The video screen at
the Marunouchi subway entrance in Tokyo Station asks passing commuters to
“Please Help Us Save Energy,” a plea repeated throughout Japan in television
advertisements warning of summer power shortages.That 3G test in Grand Central
further confirmed these results. Reception r4 販売 was low on both modems, but the U600
manage to squeak past the 250U

More than three months after the March 11
earthquake and tsunami triggered the nuclear disaster at Tokyo Electric Power
Co.’s Fukushima Dai-Ichi plant, lights are dimmed and escalators remain shut off
in subways and shopping centers. The push to save energy is also creating
opportunities for companies making long-lasting light-emitting diode bulbs and
backup power packs.

General Electric Co. and China’s BYD Co. -- the
maker of electric cars and appliances backed by Warren Buffett -- are going up
against Toshiba Corp. (6502) and Panasonic Corp. (6752) to win a bigger share of
Japan’s $120 billion appliance market. As summer approaches, the government has
asked industries to cut power use by 15 percent following the nuclear disaster.

“LED bulbs and cooling fans are moving quickly because they are
affordable to anyone who’s trying to save power,” said Ayako Chano, a researcher
at GfK Marketing Services Japan Ltd., a research firm.

GE in April
agreed to sell 101 types of LED lamps through the distribution network of Iris
Ohyama Inc., a Japanese maker of household products. BYD, based in Shenzhen,
southern China, will start selling backup power systems in Japan later this
month, said Sherry Li, a spokeswoman. The systems can power home appliances such
as refrigerators and medical equipment.Compact fluorescent light bulbs convert a
led tube considerably higher
percentage of their energy into light, which is why they are significantly more
energy efficient than traditional filament bulbs.

“There are still
opportunities for foreign brands, including the Chinese,” said Ikuo Suzuki, an
analyst at Advanced Research Japan in Tokyo. “Brands matter less for LEDs and
batteries than for TVs and refrigerators, especially if they are cheaper and
good quality.”
7-Eleven Solar Panels

Seven & I Holdings Co., the
owner of the 7-Eleven chain, said after the March 11 quake it’s investing 10
billion yen ($125 million) in energy-saving measures that include installing
solar panels at 1,000 stores and LED lamps at 5,In the case of Cree a
significant led light bulbs amount of
their LED sales come from the purchase of Cotco whose primary focus was on
moving message panels used in displays/electronic bill boards. 000 outlets in
the Tokyo region. McDonald’s Holdings Co. (Japan) and Lawson Inc. (2651) are
using LED lights to cut energy use.

McDonald’s has also urged employees
at its head office to consider taking leave in the first week of August to help
save energy, said spokesman Kazuyuki Hagiwara.

LED lights consume less
electricity and last longer than traditional light bulbs.Use LED light bulbs in

Book scanner utility areas, such as hallways
and basements, to reduce power consumption while not sacrificing light quality
in the most lived in areas of your house. They are used in ceiling lights,
street lamps, traffic signals and to illuminate flat-screen televisions.

The rolling blackouts in March in the greater Tokyo area, served by
Tokyo Electric, have helped spur sales among consumers. Sales of LED lamps
doubled in Japan in April and May, while cooling fans quadrupled,While using
compact fluorescent light bulbs energy saving
helps conserve energy, it is important that the bulbs are collected
and recycled properly to protect our environment according to GfK Marketing’s


French fund to put Sh500m into Kenya’s green projects

French fund
to put Sh500m into Kenya’s green projects
Kenyan companies investing in
carbon trading projects are set to tap a Sh500 million allocation by French
sovereign fund PROPARCO that seeks to finance environmental initiatives.The
brightness of the LED makes sharp led
black & white contrasts between the areas in and out of the LED

The fund is set to invest an estimated Sh500 million in Kenya
targeting projects aimed at cutting carbon emissions.

The investments,
to be made in the medium term, will benefit firms engaging in a wide range of
environmentally friendly projects, including electricity generation from
biomass, solar, hydro, or wind sources.

PROPARCO, which is making the
investment as part of a consortium involving Agence Fran?aise de Développement
(AFD) and CDC Climat, says the move will boost more investments in emerging and
frontier markets like Kenya that have high potential to expand environmentally
friendly projects but are bogged down by inadequate capital outlays.

“This strategic decision reflects the intention to play the role of a
catalyst for private investment in regions that have been overlooked by
investors and have not had access to carbon finance in spite of a substantial
potential for projects to reduce greenhouse gas emissions,” said Etienne Viard,
PROPARCO’s managing director. Electricity producer KenGen and Mumias Sugar
Company are among Kenyan firms to benefit from the nascent carbon credit market
that is driven by Western and Asian companies’ need to offset their excess
carbon emissions.
Buying carbon credits allows the holder to emit carbon
dioxide ―-measured in tonnes―without facing regulatory sanctions under national
or international agreements like the UN-led Kyoto Protocol.

The growth
of capital targeting green energy projects is set to benefit firms that are
rolling out such projects as part of their revenue diversification and
cost-cutting strategies.

Unilever Tea, James Finlay, and Oserian
Development Company are among seven firms licensed by the Energy Regulatory
Commission to generate electricity from green sources for their own consumption,
saving them millions in electricity bills.

Other firms are generating
more electricity than they can consume and are selling the excess capacity to
electricity distributor Kenya Power and Lighting Company.

Mumias Sugar,
for instance, received a $35 million (Sh3 billion) soft loan from PROPARCO in
2008 to expand its electricity generation capacity from 3 mega watts (MW) to 35
MW, with over 60 per cent of the increased capacity being sold to KPLC.

In the six months to December last year, Mumias earned Sh161 million
from electricity sales to KPLC and carbon credit sales to Japan Carbon Finance.
Buoyed by the success of the cogeneration plant that uses bagasse, a by-product
of sugarcane, Mumias is investing more than Sh400 million in new green projects,
including an ethanol and water bottling plant that are expected to be fed from
by-products of its sugar manufacturing processes.

The new capital will
also target players in the low end green energy market by, for instance,
subsidising the distribution of high efficiency cook stoves, solar lamps, and
water filters that are expected to raise the living standards of low income
groups living in rural areas and urban slums.

Renewable Renewable Energy
Ventures, Green Planet and Natural Light, and Deutrex Trading are among Kenyan
firms that have ventured into the solar devices market where demand is estimated
at one million units per year, according to the international finance
corporation (IFC).

The French investment in green energy projects comes
at a time when sovereign funds are ramping up their investment in the Kenyan
market, egged on by the country’s political stability and high economic growth
that promises higher returns.

Last year alone, four sovereign funds –
Norwegiain Norfund, German DEG, French Proparco, Netherland FMO, and British
CDC-- bought big stakes in Kenyan companies and extended credit lines worth Sh25
billion, underlining increased investor confidence in the Kenyan economy where
the funds typically seek to promote socio-economic development.

CDC last year announced it was making new investments in Kenya worth millions of
dollars, raising its investments in the country from Sh7.4 billion.


reations of Poetry and Chaos

Creations of
Poetry and Chaos

“Ron’s studio was inspiring, filled with precious
little things he had made with incredible details: poetic and subversive,” said
Mr. Gandini, who is president of Flos, the Italian lighting company that has
championed a succession of great designers in the past 50 years, starting with
Achille Castiglioni.

“So I said: ‘Don’t you want to turn these fabulous
ideas into real products?’ And Ron said: ‘I’m not interested in doing real
products.’ ‘But if you don’t do real products, how can you be a real designer?’
‘I don’t care about being a real designer.’ ‘But surely you need money.’ ‘I
don’t care about money.’ So we sat on the floor and talked. There was something
so precious about the place and about him, that I had to try to do something.”

Eventually Mr. Gilad relented. The visually stunning, technologically
ingenious lights he has designed for Flos were among the most talked-about
products at the Milan Furniture Fair last year and at the one last month. He has
since been bombarded with offers from other companies, but his reaction seems
equally ambivalent.

“I am a little bit confused about it all,” he said.
“I don’t want to take on too many projects. I work with two assistants three
days a week and really need to be by myself the rest of the time. I don’t want
to do the same thing for this company and that company with minor changes, as
some designers do. Unless I have a good personal relationship with the people, I
just don’t care.”

All of this could sound coy coming from anyone else,
but Mr. Gilad is only willing to work on his own terms. A 38-year-old Israeli
with long hair bundled into a ponytail, he sits in his Brooklyn studio smoking
cigarette after cigarette, and stubbing them out in a broken wine glass. “It’s
very hard for me to get rid of things,” he explained. “When the glass broke, it
could no longer contain liquid, but it could contain ash, so I kept it. And
everything breaks around here.”

“Here” is the eighth floor of an old
warehouse where he lives and works with panoramic views across the industrial
rubble of the Brooklyn Navy Yard to downtown Manhattan. Mr. Gilad spends almost
all of his time there, except for work trips to Italy and a month in Israel each

“It’s really, really hard for me to leave,” he said. “Once a
week I go out to buy cigarettes and food. Once every three months I go to
Chelsea to see exhibitions. And that’s it. I’ve never liked New York. I want to
leave as soon as possible. But I’ve been saying that for 10 years. This space
and the things in it are who I am ― living on the edge of everything.”

The studio is filled with models,The brightness of the LED makes sharp
led lamp black & white contrasts
between the areas in and out of the LED light. sketches, prototypes and finished
objects. There are splashes of surrealism in his work ― notably in the mirrors
shaped like brushstrokes ― but the dominant style is minimalism. Chairs, tables,
bowls, even model houses have been reduced to linear silhouettes of archetypal
versions of themselves. The contents of his studio act as a diary of his life
there, down to the three planks of wood standing beside a pile of glass shards.
The planks were shelves, which held his prototypes until they collapsed one
night. The broken glasses were among the casualties.

Having studied
design at the Bezalel Academy in Jerusalem, Mr. Gilad moved to the United States
in 2001 to start a company, Designfenzider, with a friend. They manufactured his
furniture and objects, until he quit last year. “There were too many
responsibilities,” he groaned. “Design. Development. Production. Sales.
Marketing. You need to take care of all these things. It took all my energy and
every little bit of happiness. Never ever again.”

His work caught the
eye of Paola Antonelli, senior curator of design at the Museum of Modern Art in
New York. “It is so perfectly balanced and surprising,” she said. “Wry sense of
humor and killer elegance. Very close to sublime.” It was she who suggested that
Mr. Gandini consider commissioning him for Flos.

The timing was perfect.
Lighting is being transformed by developments in energy-efficient sources, such
as the tiny spots produced by light-emitting diodes or, LEDs. These new
technologies offer opportunities for designers and manufacturers to produce
radically different new forms of lighting, which Mr. Gilad has exploited with

“As a super-minimalist by nature,” he said, “the reduction of
the light source to something so small was heaven. You can do whatever you want
with shape. It’s like being a kid in a candy shop. But there are limitations. As
much as the technology has evolved, the light it provides is not as romantic as
the old incandescent bulb. For me, it was crucial to keep some kind of poetry.”

For the Wallpiercing lighting panels he developed for Flos last year,
Mr. Gilad created small circles of LEDs and positioned them super-precisely, but
seemingly randomly, to create delicate layers of light. He produced a series of
larger LED circles for 2620, a chandelier unveiled by Flos in Milan last month,
and clustered them together in what looks like a vortex.

“It’s based on
a childhood memory of a window display in a Tel Aviv flower shop,” Mr. Gilad
said. “The plant pots were placed inside rings, which were connected to
pedestals at single points, and positioned at angles so they seemed to be
dancing. For me, seeing it as a child, it was magic. If you look at the 2620
from the bottom, you see a perfect flower, but from any other angle it seems
chaotic. Complete chaos from perfect order.”

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