On January 31, 2008, Governor Lingle signed a Memorandum of Understanding with the U.S. Department of Energy for the Hawaii-DOE Clean Energy Initiative. The goal is to decrease energy demand and accelerate use of renewable, indigenous energy resources in Hawaii in residential, building, industrial, utility, and transportation end-use sectors, so that renewable energy resources will be sufficient to meet 70% of Hawaii’s energy demand by 2030.
This initiative has put the national spotlight on Hawaii as the state to develop renewable energy solutions and showcase energy independence. The focus on Hawaii has attracted national media attention, substantial federal dollars, and promising new energy companies to the State. Kolohala leverages these resources to bring non-dilutive capital into its portfolio companies and invest in world-class technologies.