Greenhouse Gas Emission Reduction - Internship in Business Planning

Position Posted April 1, 2009

Internship in Business Planning 

 

Summary: As part of Duke University’s ongoing leadership in sustainability and as a signatory of the American College and University Presidents Climate Commitment, Duke has been developing a campus Climate Action Plan with draft greenhouse gas emission reduction strategies. A key area being examined is carbon offsets and particularly how Duke can catalyze local or regional offsets that have many co-benefits for the surrounding community. While the university intends to be as aggressive as possible with on-campus carbon reduction, the Campus Sustainability Committee accepts the reality that offsets will be a part of Duke’s overall climate neutrality plan. 

In examining the potential to eliminate – or offset – carbon emissions completely on its campus, Duke has determined that no entity exists in the Carolinas that is capable of coordinating the purchase and sale of offsets, much less generate offsets that abide by the high standards to which the campus would adhere.  Therefore, the Sustainability Office is examining the potential ways Duke could establish a high quality offset aggregator in the Carolinas that could serve as a trustworthy developer and broker of offsets to fill this void. As a part of this program, the Duke Sustainability Office invites applications for a 3-month business planning internship position. The Associate will be overseen by the Carbon Offsets Initiative Program Director and will work directly with the Duke University Sustainability Committee on developing a business plan that outlines a business model for the offset aggregating initiative. 

The business plan will provide the framework for how carbon offsets will be developed and financed, will set a timetable for the initiative in general and specifically project implementation and growth, and will devise the best methods for capitalization, contracts between the carbon offsets initiative, carbon offset generators, technology providers, and final purchasers, and will develop a structure for partnerships, ownership, and profit sharing for the new initiative, with a five-year growth plan. 

The business plan is expected to include (1) a description of the business and legal structure of the initiative, including program area structure (e.g., program areas could include offsets for methane capture, forestry, and energy), staffing needs, and partner network; (2) products and services offered by the aggregator, such as educational services to other institutions; (3) identification of the customer base; (4) potential revenue streams for the business (e.g., a revolving fund structure and/or membership fees or shares for start-up costs; potential foundation and governmental support); and (5) payment structures for participating offset providers.  

The business plan will require extensive market research and consultations with business experts in the voluntary carbon offset market and experts on greenhouse gas emission legislation and state programs.  The draft produced by the graduate intern will be reviewed and finally approved by the Duke Carbon Offsets Initiative Program Director, the Executive Vice President of Duke University, the Duke University Sustainability Program Director, and the Duke University Sustainability Committee.  

Requirements: Master’s degree or working towards a Master’s degree in business, environmental management, environmental policy or similar program.  Preferred degrees include MBA from Duke’s Fuqua School of Business or MEM from the Nicholas School Masters of Environmental Management program.  Excellent verbal and written communication skills are required. 

Experience: Experience in developing a business plan is ideal. 

Start Date: ASAP. This is a three month position with possibility for extension.  

To apply, attach a cover letter, resume, contact information for two faculty references and 1-2 professional references, and a writing sample, attn: Heather Hosterman at Heather.Hosterman@duke.edu with “Business Associate” in the subject line. 

Duke University/Health System is an Equal Opportunity Affirimative Action Employer

Outer Banks Ocean Energy looking for students

http://www.oboec.com/ 

Outer Banks Ocean Energy (OBOE) is a recently formed alternative energy developer based in NC.

The goal of OBOE, in one line, is to build a wind farm off the coast of NC, generate a boat load of electricity, plug/sell the power into the electric grid, and do so very profitably. 

OBOE is a legally formed entity with seed capital from a few wealthy investors and has a strong relationship with a large reputable law firm, but now the firm wants to be ready to get in front of professional investors or strategic partners to raise $1-1.5mm.. This will be used to establish an office in Chapel Hill, hire a project manager, engineer(s), and start the permitting and wind study process. This money should last about 1 year.

What: OBOE is looking for 1 or 2 students to commit to a few (I am thinking 4 to 8) hours a week to help beef up the existing business plan (document and presentation), create some medium-level detail valuation & financials, and due diligence (ie web surfing for angels, VCs and other potential investors, revenue estimates, cost estimates, job creation stats and 'other'). All of this can be done remotely (and will be since there is no Chapel Hill office yet) but with rich and frequent interaction with the founder.

This would be an unpaid effort but provide real-world entrepreneurial experience and a solid few lines on the resume. OBOE is doing real entrepreneurial financial boot strapping in the recession. Whatever it takes to get the dream going...a firm with very little cash really needs to make it last a while. This is why I am coming back to my old stomping grounds for grassroots talent. 

Why (should you?): the experience, your resume, social & environmental good, for fun. You participate now and later, down the road, you will find out that OBOE crashed and burned big-time or in 7 years you'll read in the WSJ that it was sold for an obscene amount. Either way you can say you participated and wear that with a badge of honor.

Where: flexible

When: now through the end of the school year or through the summer.

Who: 

-Don Evans, CEO. Don is a serial entrepreneur and speculator. In the past he has dug for natural gas reserves, profitably sold an LED company that supplied its products to the government so it could efficiently light up the desert, and has a whole bunch of years of experience to impart.

-Dr. John Bane, principal scientist, and physics/marine science professor at UNC.

-A whole bunch of academics in Dr. Bane's field across universities in the southeastern US.

-Me, I spent few years, before and after Fuqua, in investment banking in NYC and recently started a position in Venture Lending and Capital Markets at Square 1 Bank, Durham. My full-time job is:

https://www.square1financial.com/content1397

https://www.square1financial..com/bank/index.php

Additional Info:

This is a huge endeavor that will take many years to realize and massive capital investment, to the tune of 10 digits over time. Fortunately off-shore wind energy is an existing technology. It is in place and running in a few spots in Europe 

http://www.hornsrev.dk/Engelsk/nyheder/nyh_dec_02/uk-dec_02.htm

And in the US there are comparable efforts, Cape Wind, in Nantucket, that is a few steps away from trying to arrange $1billion in financing; and Principle Power in Oregon. So far the Cape Wind effort has cost +$30mm (much of it in litigation, because the project started too soon before the alternative energy movement and because wealthy Nantucket residents don't want a wind park in their backyard). The +$30mm has been entirely personally funded by the projects founder!

http://capewind.org/article27.htm

http://www.capecodtoday.com/blogs/index.php/2007/07/11/cep_wind_s_jim_gordon_in_fast_company?blog=109

http://principlepowerinc.com/

In the US efforts like these are created by 'independents', think T. Boone Pickens in Texas, while in Europe they subsidized by the government and developed by utilities. Why? Because in Europe fossil fuel electricity costs north of $0.23 per kw and in the US its about $0.10 per kw. So the US monopoly utilities have little incentive; they can keep burning cheap fossil fuel until independents create projects like this and can offer cheaper alternatives to bring down average costs and to meet alternative quotas. The economics are there, it just takes a huge capital investment to reach stabilized operations.

Finally, I spoke to Prof. Jim Sheldon and this opportunity could be rolled into a full-time summer, for-class-credit, internship for those going that route.

Please let me know if you or any targeted classmates may be interested. I am happy to hear feedback. (Please note that for the purpose of this project I am using my personal email and not my corporate one from the link above)

Thanks!

 

Ian Enverga
ian.enverga@yahoo.com

INI Power - Fuel Cell company - looking for MBAs

INI Power is a fuel cell company located in RTP.

Tony Atti wrote, "Regarding an internship or other staffing opportunities we’re looking for someone who can assist in better defining one of our most important and near term market verticals. INI’s products are designed for 3 distinct market opportunities: military, consumer portable and consumer electronics applications. The consumer portable vertical in particular represents an intriguing opportunity as it includes recreational power, outdoor power equipment and UPS (uninterrupted emergency power)…these applications are diverse, voluminous and typically rely on low value solutions like lead-acid batteries or polluting diesel gensets as a source of electric power. INI has a broad market penetration strategy prepared but we’re looking for a candidate who can assist in defining the market players, applications, supply chain and distribution channels in more detail and then ultimately assisting in appropriate product placement. The upside is this effort should not only parallel much of a candidate’s business training but they’ll be doing it in a fast-paced entrepreneurial/venture-backed environment. INI has grown from 3-22 people in little over a year and the fruits of this effort are an integral part of our pro forma financials for 2008 and beyond."

Contact Howie Rhee for more info, hwr2@duke.edu

Participate in the Oak Ridge National Laboratory competition

"Oak Ridge National Laboratory (ORNL) is once again planning to host a business competition in April. The new name is "Global Venture Challenge" and it will be held April 2 - 4, 2008, at ORNL. The new website, http://www.globalventurechallenge.com/, will be launched at the end of the month. The competition will once again use the Idea to Product competition format, but this year the focus will be on energy applications. At the end of this note is a list of ideas that would qualify for the competition.

This year, students will have an expanded program where they will be able to learn more about ORNL and spend time with key people in their particular areas of research and business. They will also have more time to interact with the venture capitalists and entrepreneurs that will be attending. ORNL management will be inviting leaders at key energy companies to participate as judges at the competition, so students will be able to network with potential employers in the energy industry."

For more information, contact Howie Rhee at hwr2@duke.edu