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Survey Reveals Strong Support for Increased Focus on Nuclear Energy

Posted on: Thursday, 30 October 2008, 09:00 CDT

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.

 Media Contact: Michael Larkin 212-479-6333 mlarkin@cooley.com

SOURCE: Cooley Godward Kronish LLP

Source: MARKET WIRE

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