There’s plenty of room to invest -- or to find employment -- in companies whose technologies could slow global warming. Wall Street is zeroing in on technologies that will help reduce the emission of greenhouse gases and slow global warming. That creates a basketful of money-making opportunities for investors and job opportunities for IT workers eager to make a difference, or just hoping to find employment in a There’s plenty of room to invest — or to find employment — in companies whose technologies could slow global warming. Wall Street is zeroing in on technologies that will help reduce the emission of greenhouse gases and slow global warming. That creates a basketful of money-making opportunities for investors and job opportunities for IT workers eager to make a difference, or just hoping to find employment in a hot new growth area.There’s been plenty of talk about this trend, and indeed wind and solar power companies have already made their mark on Wall Street. But when a major investment bank publishes a 48-page report highlighting IT’s role in slowing global warming, you know that there’s still plenty of room to make money. The recent report by three top analysts at Sanford Bernstein starts at 50,000 feet, saying that information technology is likely to play an “ongoing and critical role” in harnessing select clean energy sources, such as solar and wind. It will also focus on reducing emissions through the use of hybrid electric propulsion systems, better navigation (think GPS) and increasing electrical efficiency by developing more sophisticated power transmission systems and by finding ways to reduce power consumption at data centers. More concretely, the report notes that one critical component for several of these solutions is the power-conversion device — i.e., solar inverter, wind converter, hybrid vehicle power module — that stabilizes and converts power from natural sources and batteries into AC current. Interestingly, no large companies have significant market share in this area, but a number of mid- and small-sized companies are well positioned, including Xantrex. Xantrex, by the way is a public company traded on the Toronto Stock Exchange Headquartered in Vancouver, British Columbia, Xantrex has 500 employees, and additional facilities in Northern California and Washington. It recorded revenue of US $158 million in 2006, and earned 19 cents a share. And yes, it’s hiring. A check of the company Web site shows listings for electrical and software engineers, planners and a technical support rep. Drilling a bit deeper, the reports says that the key components in high-voltage power conversion devices are IGBT semiconductors, “which we expect to develop into a large and important market.” (I must admit that I had to look that one up; IGTB is the acronym for insulated-gate bipolar transistor, used for switching in medium- and high-powered devices.)Increasing electrical efficiency is another interesting area. It’s well known that the resistance in conventional copper transmission lines eats current. One solution, albeit one that needs lots of work, is the supercooled, superconducting power cable. According to an interesting piece last spring in the MIT Technology Review, the technology is being examined as a way to add redundancy in the cramped quarters of Manhattan’s local power grid, potentially protecting against natural disruptions and terrorist attacks. Because the cables are so efficient, a few of them can be packed into spaces too small to house conventional copper. Consolidated Edison and the U.S. Department of Homeland Security are investing $39 million to connect two substations in Manhattan, allowing each to take over for the other in the event that one burns out. The effort will use technology from American Superconductor, of Devens, Mass. The company is valued at a bit more than $1 billion, posted revenue of $19.7 million in revenue in the June quarter, while losing $9.6 million, or 27 cents a share. That’s no surprise; investors in new technology have to be patient. “Many companies in the most obvious investment areas — e.g., solar and wind power — have already appreciated significantly over the last two years. However, given that solar and wind combined still account for only 1 to 2% of global electricity generation, efforts to increase this to any meaningful level will drive enormous and sustained future spending,” the analysts conclude. The bottom line: There’s plenty of room to invest — or to find employment — in capitalism’s greenest sector. (The Bernstein Research report was written by Richard Keiser, Vadim Zlotnikov, and Denis Smirnov.) I welcome your comments, tips and suggestions. Write me at bill.snyder@sbcglobal.net. Technology Industry