CONTENTS
Green Tech research 2
I— Cheuvreux’s Green Tech coverage 9
II— The green way out, through stimulus 11 Does economic stimulus create upside? 11 Country profiles 13 China 14 Japan 16 US 18 Denmark 20 Finland 21 France 22 Germany 24 Greece 26 Italy 28 Netherlands 30 Norway 32 Spain 33 Sweden 35 United Kingdom 36
III— Sector profiles 38
IV— The lean way 39 Building materials & construction 41 Energy efficiency companies 42 Automobiles & auto components 43 Capital goods – electrical equipment – efficiency players 45 Rail tech sector 47
V— The clean way 49 Investment drivers remain strong 49 Solar power: under pressure in 2009 51 Wind turbine producers 53 Wind developers 55 Eco-products & services: certification & testing 57
VI— The green way 59 Waste treatment: challenges and opportunities 59 Water services market: solid and lasting fundamentals 60 Waste: favourable regulation 62 Water 64 Biofuels sector 66 Enzymes sector 68