Contact Information: Media Contact: Michael Larkin 212-479-6333 mlarkin@cooley.com
Survey Reveals Strong Support for Increased Focus on Nuclear Energy
| Source: Cooley Godward Kronish LLP
NEW YORK, NY--(Marketwire - October 30, 2008) - Nuclear energy received a resounding
endorsement from renewable energy and clean technology professionals in a
recent survey conducted by law firm Cooley Godward Kronish. The survey of
85 New York-area clean tech entrepreneurs, investors and other industry
professionals shows that 72 percent of respondents believe nuclear energy
should receive more focus as an alternative energy source.
In spite of the global economy's instability that has many industries vying
for prospective investors, 75 percent of survey respondents think venture
capital and other private equity investments in clean technology and
renewable energy will increase in 2009, while nine percent think it will
decrease and 16 percent think it will remain the same.
A majority of the respondents (57 percent) also believe that the clean
technology and renewable energy sector will play a "significant" role in
job creation over the next five years. Only two percent of respondents
said it would have a "minimal" role in job creation.
According to the survey, the energy policies of Democratic party
presidential candidate Barack Obama would have a greater positive impact on
climate change and U.S. energy independence over the policies of the other
2008 presidential candidates. Seventy percent of respondents think Obama's
energy policies would be more effective, compared to 23 percent for
Republican party candidate John McCain and four percent for independent
candidate Ralph Nader. Three percent are not sure or are unconvinced any
of them would be effective.
Fifty-eight percent of respondents think that increasing incentives to
invest in new clean technology companies and technologies should be the
next administration's top policy initiative to promote renewable energy,
energy efficiency and job creation in the U.S. clean-tech industry.
Twenty-three percent of respondents think passing climate control mandates,
including implementing a national "cap-and-trade" program, should be the
top policy initiative.
Respondents are also predominantly placing their bets on companies outside
the United States to develop the first mass-produced, non-gas powered
automobile. Sixty-six percent of respondents think that the first car will
come from outside the country, while 24 percent said from Silicon
Valley/California and 10 percent said from Detroit.
The survey was conducted at an event last week featuring energy policy
representatives from John McCain and Barack Obama's presidential campaigns,
hosted by the Renewable Energy Business Network's (REBN) New York chapter.
The chapter was founded earlier this year by Cooley Godward Kronish, Porter
Novelli and SJF Ventures.
About Renewable Energy Business Network
The Renewable Energy Business Network (REBN) enables business professionals
with an interest in clean technology to connect with one another and
promote industry growth. REBN provides opportunities for professional
networking, collaboration, education and business creation. REBN consists
of more than 4,000 members nationwide representing small and large
businesses, venture funds, law firms, investment banks, PR and marketing
firms, research institutions and other organizations.
About Cooley Godward Kronish LLP
Cooley Godward Kronish's 725 attorneys have an entrepreneurial spirit and
deep, substantive experience, and are committed to solving clients' most
challenging legal matters. From small companies with big ideas to
international enterprises with diverse legal needs, Cooley has the breadth
of legal resources to enable companies of all sizes to seize opportunities
in today's global marketplace. The Firm represents clients across a broad
array of dynamic industry sectors, including clean tech, technology, life
sciences, real estate, financial services, retail and energy.
The Firm has full-service offices in major business and technology centers
nationwide: Palo Alto, CA, New York, NY, San Diego, CA, San Francisco, CA,
Reston, VA, Broomfield, CO, Washington, DC, Boston, MA and Seattle, WA.
For additional information on Cooley, please visit www.cooley.com.