Cleaning Up Industry
Green Investor at Investorideas.com, http://www.investorideas.com/gi/ By Paulo Nery
In spite of the notable surge in solar and wind energy recently, the fastest and easiest solution to climate change and expensive energy remains efficiency. New and more efficient motors and pumps, smaller cars and so on, are all starting to add up; and it’s only the beginning. According to Amory Lovins of the Rocky Mountain Institute, exploiting the best available technologies wherever practical could save half of our oil and gas use and three-quarters of our electricity use. Mr. Lovins figures we can save half our consumption at a cost equivalent to adding $12 per barrel of oil – which is less than 10% of what we’re spending today.
So, here are a couple of interesting companies who are adding value by improving the efficiency of power generation and other industrial processes.
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Foster Wheeler (FWLT) supplies power equipment to generators. They also have an engineering and construction business. The work they do with generators can include developing new state-of-the-art power plants as well as helping to bring existing facilities up-to-date on environmental standards. Their solutions make power plants more efficient, cleaner and can convert waste streams to energy. For the longer term, they also have a strategic alliance with Praxair (PX) to develop integrated oxy-coal combustion systems into coal-fired power plants to facilitate capture and sequestration of carbon dioxide.
One of Foster Wheeler’s key products is an atmospheric gasifier. When added to an existing power plant it can cut down the use of fossil fuels considerably. It allows for fuels such as biomass, industrial and municipal waste, plastics, waste paper and construction wood waste to be added to the fuel mix.
These fuels are converted into hot, low-calorific-value gas that can be fed into a pulverized coal boiler as a secondary fuel. This makes for a low-cost, low-emission, efficiency improvement to the existing system. This reduces overall emissions of SOx, NOx, particulates, CO2, dioxins, metals and chlorine.
Foster Wheeler as a stock, has not fared well lately. In part, that’s because it had a phenomenal run over the past two years from around 20 to a peak just over 80 (adjusted for the split) at the start of this year. But with a forward price to earnings (P/E) ratio of 13 and forecast growth at over 20% this stock represents excellent value. More so because it has excellent visibility of its future revenues since orders are placed well in advance, and because so much of its business is overseas in growth markets like Latin America and Asia.
Another interesting company in this space is Fuel Tech (FTEK), an environmental technologies company. They have a suite of products and services designed to improve efficiency, optimize boilers and reduce polluting emissions.
Their FUEL CHEM® technology involves the introduction of chemical reagents, like magnesium hydroxide, to combustion units. The process leads to increased overall efficiency. It also cuts down the formation of serious pollutants like sulfur trioxide (SO3), ammonium bisulfate (ABS), particulate matter (PM2.5), carbon dioxide (CO2) and nitrogen oxide (NOx) for all around cleaner emissions.
The reduction in CO2 emissions, for instance from large power plants, are little over 1%. While that may look like a small number, the cumulative reduction is huge given the large quantities being emitted in the first place. The system is currently in place in 100 customer units including 44 coal burning and 56 that burn heavy oil, coke, biomass, wood, olive pits and municipal waste.
Woodward Governor (WGOV) manufactures energy control and optimization solutions for industrial engines, aircraft engines, turbines, and electrical power equipment. Their fluid energy, combustion control, electrical energy, and motion control systems help customers be cleaner, more efficient, more reliable, and more cost-effective.
What’s doubly interesting about Woodward is that they’re also a stealth play on wind since they acquired SEG, a German manufacturer of wind generation products.
Woodward recently reported earnings at 0.47 per share, which beat the Street’s estimates of around 0.43. Sales were reported growing 23% year on year. And the company raised guidance for fiscal 2008, projecting total revenue growth of 20%, compared to the earlier 16%.
Foster Wheeler and Fuel Tech report on the 8th and 11th of August respectively and certainly bear watching closely.
Paulo J. NeryDisclosure: Paulo Nery currently owns shares of Foster Wheeler and Fuel Tech. Disclaimer: Nothing in the above article in no way constitutes a recommendation to buy or invest in these or any other stocks. You should always seek professional financial advice when planning your investments or trading in the stock markets.
Get insight into cleantech and renewable energy stocks with news and the cleantech and climate change podcast. This blog is part of www.investorideas.com cleantech investor content .
Tuesday, August 05, 2008
Mantra Venture Group Announces Entry into an Agreement in Principle for a Cellulosic Ethanol Joint Venture
Mantra Venture Group Announces Entry into an Agreement in Principle for a Cellulosic Ethanol Joint Venture
SEATTLE, WA, Aug. 4 - Mantra Venture Group Ltd. (OTCBB: MVTG - FSE: 5MV) is pleased to announce that it has entered into an agreement in principle for a joint venture agreement with Northwind Ethanol Ltd. ("Northwind") to produce fuel ethanol using their proprietary starch and cellulose technology. The final agreement is undergoing final review by Mantra and Northwind's legal counsel. The joint venture will be carried out through Mantra's wholly-owned subsidiary, Mantra NextGen Power Inc. ("NextGen"). According to the terms of the joint venture agreement, Mantra will own 51% of NextGen and Northwind will own 49%.
NextGen has also acquired the exclusive North American license from Northwind to produce cellulosic ethanol, ethanol derived from wood and agricultural wastes, using an exclusive proprietary technology. This technology promises to be much more economic, practical and clean, than ethanol from conventional corn processing. NextGen also has the right to purchase additional worldwide licenses at an additional cost. This high efficiency, low energy demand process will reduce ethanol production costs by more than 1/3.
NextGen's management team and Board of Directors has also been implemented, with Larry Kristof of Mantra to act as President, Fred Enga of Northwind will act as C.E.O., Dennis Petke of Mantra will act as Secretary and Brian Currie of Northwind to act as Treasurer and C.F.O. These four gentlemen will also serve on NextGen's Board of Directors, with a fifth director to be chosen by mutual consent of Mantra and Northwind. Now that the management of NextGen is in place, they will focus their attention on raising capital in order to finance NextGen's first plant.
Fred Enga, Northwind's President and C.E.O., commented, "Our two companies have finalized the deal that will see cellulosic ethanol come to commercialization. This will allow NextGen to bring this new, exciting, clean technology to the marketplace."
Larry Kristof, Mantra's President and C.E.O. added, "This joint venture is an important step for both NextGen and Mantra. Ethanol produced from a source other than corn, an important food staple, is in high demand. NextGen is poised to meet that high demand and enter this burgeoning market very quickly - we hope to break ground on our first 20 million gallon per year plant by the end of this year."
About Mantra:
Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is active in the green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth for everyone, Mantra intends to provide a highly profitable, socially and environmentally responsible investment for its shareholders.
Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV. For more information please visit us at www.mantraenergy.com.
Mantra is encouraging and enabling investors to make environmental consumer choices with a free environmental bag. Sign up here: http://www.mantraenergy.com/tools-and-utilities/free-bag.html
Forward-Looking Statements:
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Mantra Venture Group's filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Mantra Venture Group Ltd. is a featured Company on Investorideas.com Green portals, China portal.
For full details, click here: http://www.renewableenergystocks.com/CO/MVTG/Default.asp
Contact:
Terry Johnston,
Investor Relations,
Phone: (604) 267-3022,
Email: tjohnston@mantraenergy.com,
Website: http://www.mantraenergy.com
Source: Mantra Venture Group Ltd.
SEATTLE, WA, Aug. 4 - Mantra Venture Group Ltd. (OTCBB: MVTG - FSE: 5MV) is pleased to announce that it has entered into an agreement in principle for a joint venture agreement with Northwind Ethanol Ltd. ("Northwind") to produce fuel ethanol using their proprietary starch and cellulose technology. The final agreement is undergoing final review by Mantra and Northwind's legal counsel. The joint venture will be carried out through Mantra's wholly-owned subsidiary, Mantra NextGen Power Inc. ("NextGen"). According to the terms of the joint venture agreement, Mantra will own 51% of NextGen and Northwind will own 49%.
NextGen has also acquired the exclusive North American license from Northwind to produce cellulosic ethanol, ethanol derived from wood and agricultural wastes, using an exclusive proprietary technology. This technology promises to be much more economic, practical and clean, than ethanol from conventional corn processing. NextGen also has the right to purchase additional worldwide licenses at an additional cost. This high efficiency, low energy demand process will reduce ethanol production costs by more than 1/3.
NextGen's management team and Board of Directors has also been implemented, with Larry Kristof of Mantra to act as President, Fred Enga of Northwind will act as C.E.O., Dennis Petke of Mantra will act as Secretary and Brian Currie of Northwind to act as Treasurer and C.F.O. These four gentlemen will also serve on NextGen's Board of Directors, with a fifth director to be chosen by mutual consent of Mantra and Northwind. Now that the management of NextGen is in place, they will focus their attention on raising capital in order to finance NextGen's first plant.
Fred Enga, Northwind's President and C.E.O., commented, "Our two companies have finalized the deal that will see cellulosic ethanol come to commercialization. This will allow NextGen to bring this new, exciting, clean technology to the marketplace."
Larry Kristof, Mantra's President and C.E.O. added, "This joint venture is an important step for both NextGen and Mantra. Ethanol produced from a source other than corn, an important food staple, is in high demand. NextGen is poised to meet that high demand and enter this burgeoning market very quickly - we hope to break ground on our first 20 million gallon per year plant by the end of this year."
About Mantra:
Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is active in the green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth for everyone, Mantra intends to provide a highly profitable, socially and environmentally responsible investment for its shareholders.
Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV. For more information please visit us at www.mantraenergy.com.
Mantra is encouraging and enabling investors to make environmental consumer choices with a free environmental bag. Sign up here: http://www.mantraenergy.com/tools-and-utilities/free-bag.html
Forward-Looking Statements:
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Mantra Venture Group's filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Mantra Venture Group Ltd. is a featured Company on Investorideas.com Green portals, China portal.
For full details, click here: http://www.renewableenergystocks.com/CO/MVTG/Default.asp
Contact:
Terry Johnston,
Investor Relations,
Phone: (604) 267-3022,
Email: tjohnston@mantraenergy.com,
Website: http://www.mantraenergy.com
Source: Mantra Venture Group Ltd.
Monday, August 04, 2008
T. BOONE PICKENS STATEMENT ON U.S. SENATOR BARACK OBAMA’S (D-IL) SPEECH ON U.S. ENERGY POLICY
T. BOONE PICKENS STATEMENT ON U.S. SENATOR BARACK OBAMA’S (D-IL) SPEECH ON U.S. ENERGY POLICY
Dallas, TX, August 4, 2008 – Below is that statement of T. Boone Pickens on U.S. Senator Barack Obama’s (D-IL) speech on U.S. national energy policy:
“I’m strongly encouraged by Senator Obama’s speech on America’s energy future. Foreign oil is killing our economy and putting our nation at risk.
“When I started this campaign my goal was to make this the biggest issue in the coming election and the top priority to be addressed in the first hundred days of the next administration. This issue is clearly moving up in the priority of political debate; Senator Obama’s statement is an indication that is what is indeed happening.
“I will continue to push this as a priority for the rest of the year.”
For more information about The Pickens Plan, please visit www.pickensplan.com.
###
Contact: Jay Rosser
BP Capital
214 265 4165
Jay@bpcap.net
Melissa McKay
212 446 1860
melissa@pickensplan.com
Dallas, TX, August 4, 2008 – Below is that statement of T. Boone Pickens on U.S. Senator Barack Obama’s (D-IL) speech on U.S. national energy policy:
“I’m strongly encouraged by Senator Obama’s speech on America’s energy future. Foreign oil is killing our economy and putting our nation at risk.
“When I started this campaign my goal was to make this the biggest issue in the coming election and the top priority to be addressed in the first hundred days of the next administration. This issue is clearly moving up in the priority of political debate; Senator Obama’s statement is an indication that is what is indeed happening.
“I will continue to push this as a priority for the rest of the year.”
For more information about The Pickens Plan, please visit www.pickensplan.com.
###
Contact: Jay Rosser
BP Capital
214 265 4165
Jay@bpcap.net
Melissa McKay
212 446 1860
melissa@pickensplan.com
US Cleantech Investment Climbs 41% in 2nd Quarter of 2008 to Nearly $1 Billion, The Highest Quarter on Record
US Cleantech Investment Climbs 41% in 2nd Quarter of 2008 to Nearly $1 Billion, The Highest Quarter on Record
Solar companies have top three VC-backed deals overall; energy efficiency remains strong
SAN FRANCISCO, Aug 04, 2008 -- Venture capital investments in US cleantech companies grew by 41% to $961.7 million in Q2 2008, up from $683.5 million in Q1 2008, according to an Ernst & Young report based on data from Dow Jones VentureOne.
This is the highest total cleantech investment on record, and comes amidst a quarter in which overall venture capital investment was down by nearly 8%. Year-on-year cleantech investment follows this upward trend, increasing 83% from Q2 2007.
Energy/Electricity Generation companies attracted the most investment of any sector this quarter with $494.9 million -- 52% of the total. The top three deals of the quarter were solar-related companies. The deals included, SunEdison, in Beltsville, MD, which raised $131 million, eSolar, in Pasadena, CA, which raised $130 million and BrightSource in Oakland, CA, which raised $115 million. It is also worth noting that corporate investors were involved in all of these deals.
Energy Efficiency companies made up 20% of total investment dollars and continues to be a top cleantech investment segment despite a slight 4% decline to $188.3 million in Q2. The third largest segment this quarter was Alternative Fuels, which comprised 13% of the overall US cleantech market. The segment, made up entirely of biofuels transactions, attracted $129 million of investment, down 44% from the previous quarter.
"Efficiency-related investments, such as smart meters and LED technologies, have seen relatively steady levels of deals and investment over the past few quarters because they can be ready for an exit more quickly than other renewable energy technologies," says Joseph A. Muscat, Americas Director of Cleantech and Venture Capital, Ernst & Young LLP. "Investment in increased efficiency can have a shorter payback period since many of these technologies are relatively capital efficient compared to the capital intensity of a manufacturing-heavy segment like biofuels."
Deal volumes in 2008 were distributed across the stage of investments, which is noteworthy given that the majority of deals in 2007 were seed and first round transactions. Also, while overall cleantech investment rose 41%, the number of deals increased by only one to 41 deals in Q2 2008 compared to the preceding quarter. Later stage deals accounted for 39% of the transactions in Q2 2008. Market drivers The price of energy is driving demand for cleantech innovation in the corporate sector, particularly with the average price of oil increasing 98% from June 2007 to June 2008 -- from $67.49 to $133.88 -- according to the Department of Energy (DOE). Additionally, global energy demand is slated to increase 57% from 2004 to 2030, according to the DOE. In response, investors and corporations alike are setting long-term cleantech investment strategies.
New corporate commitments to climate change are also stimulating cleantech activity. Seventy-seven percent of large corporations have integrated cleantech into their internal systems or supply chains and 63% offer cleantech-related products, according to a recent Ernst & Young survey of 150 large corporations. Large industrial, oil, automotive and utilities corporations are increasingly entering strategic partnerships and making acquisitions to find alternatives to oil. According to John S. Herold, Inc., Shell invested $1 billion over the past five years in renewable technologies and Chevron publicly committed to invest $100 million per year. DuPont and Genencor, a division of Danisco A/S, announced a commitment of $140 million over the next three years as part of a joint venture to develop solutions for the production of cellulosic ethanol. These long-term commitments and investments suggest solid, continued growth in the sector.
Cleantech deals were responsive to activity in the capital markets. During the first half of 2008, there were 115 merger and acquisition (M&A) alternative energy transactions globally. The 44 that reported acquisition values raised $7.2 billion, according to John S. Herold Inc. The largest US deal was done by private equity firm ArcLight Capital, which acquired the Tehachapi wind farm project in Kern County, CA from Australian investment group, Allco Finance, for $325 million. Another notable US corporate example is Duke Energy's $240 million acquisition of Catamount Energy, a Vermont-based wind power company from Diamond Castle Holdings. Overall, 46% of the M&A transactions were done by private equity firms and 54% were corporate deals.
Additionally, three of the 10 US domiciled IPOs in Q2 2008 were cleantech companies and accounted for $1.7 billion of the $3.9 billion raised (44%), according to Thomson Financial's SDC. The largest cleantech IPO was American Water Works, based in Voorhees, NJ, which raised over $1.2 billion. It is now the largest publicly owned water and wastewater utility company in the US. This IPO underscores the increasing interest by investors in water as a segment of cleantech, a trend that is expected to continue. Looking forward, the IPO pipeline includes seven cleantech-related companies, two of which are venture-backed. Two of these companies are looking to raise over $300 million, including Noble Environmental Power -- a Connecticut based wind company -- which is expected to raise around $375 million. "In a challenging market, investment in the cleantech sector remains strong because these companies provide cross-sector solutions to economic and environmental challenges," explained Muscat.
Note to editors: Ernst & Young uses the following definitions to classify the cleantech industry and its sub-sectors: Clean technology encompasses a diverse range of innovative products and services that optimize the use of natural resources or reduce the negative environmental impact of their use while creating value by lowering costs, improving efficiency, or providing superior performance. -- Alternative Fuels - Biofuels; natural gas (LNG) -- Energy / Electricity Generation - Gasification, tidal/wave, hydrogen, geothermal, solar, wind, hydro -- Energy Storage - Batteries, fuel cells, flywheels -- Energy Efficiency - Energy efficiency products, power and efficiency management services, industrial products -- Water - Treatment processes, conservation & monitoring -- Environment - Air, recycling, waste -- Industry Focused Products and Services - Agriculture, construction, transportation, materials, consumer products
About Ernst & Young's Strategic Growth Markets Network Ernst & Young's worldwide Strategic Growth Markets Network is dedicated to serving the changing needs of rapid-growth companies. For more than 30 years, we've helped many of the world's most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early stage venture-backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business achieve its potential. It's how Ernst & Young makes a difference.
About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential. For more information, please visit www.ey.com. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by Ernst & Young LLP, a member firm of Ernst & Young Global Limited
SOURCE Ernst & Young LLP
Solar companies have top three VC-backed deals overall; energy efficiency remains strong
SAN FRANCISCO, Aug 04, 2008 -- Venture capital investments in US cleantech companies grew by 41% to $961.7 million in Q2 2008, up from $683.5 million in Q1 2008, according to an Ernst & Young report based on data from Dow Jones VentureOne.
This is the highest total cleantech investment on record, and comes amidst a quarter in which overall venture capital investment was down by nearly 8%. Year-on-year cleantech investment follows this upward trend, increasing 83% from Q2 2007.
Energy/Electricity Generation companies attracted the most investment of any sector this quarter with $494.9 million -- 52% of the total. The top three deals of the quarter were solar-related companies. The deals included, SunEdison, in Beltsville, MD, which raised $131 million, eSolar, in Pasadena, CA, which raised $130 million and BrightSource in Oakland, CA, which raised $115 million. It is also worth noting that corporate investors were involved in all of these deals.
Energy Efficiency companies made up 20% of total investment dollars and continues to be a top cleantech investment segment despite a slight 4% decline to $188.3 million in Q2. The third largest segment this quarter was Alternative Fuels, which comprised 13% of the overall US cleantech market. The segment, made up entirely of biofuels transactions, attracted $129 million of investment, down 44% from the previous quarter.
"Efficiency-related investments, such as smart meters and LED technologies, have seen relatively steady levels of deals and investment over the past few quarters because they can be ready for an exit more quickly than other renewable energy technologies," says Joseph A. Muscat, Americas Director of Cleantech and Venture Capital, Ernst & Young LLP. "Investment in increased efficiency can have a shorter payback period since many of these technologies are relatively capital efficient compared to the capital intensity of a manufacturing-heavy segment like biofuels."
Deal volumes in 2008 were distributed across the stage of investments, which is noteworthy given that the majority of deals in 2007 were seed and first round transactions. Also, while overall cleantech investment rose 41%, the number of deals increased by only one to 41 deals in Q2 2008 compared to the preceding quarter. Later stage deals accounted for 39% of the transactions in Q2 2008. Market drivers The price of energy is driving demand for cleantech innovation in the corporate sector, particularly with the average price of oil increasing 98% from June 2007 to June 2008 -- from $67.49 to $133.88 -- according to the Department of Energy (DOE). Additionally, global energy demand is slated to increase 57% from 2004 to 2030, according to the DOE. In response, investors and corporations alike are setting long-term cleantech investment strategies.
New corporate commitments to climate change are also stimulating cleantech activity. Seventy-seven percent of large corporations have integrated cleantech into their internal systems or supply chains and 63% offer cleantech-related products, according to a recent Ernst & Young survey of 150 large corporations. Large industrial, oil, automotive and utilities corporations are increasingly entering strategic partnerships and making acquisitions to find alternatives to oil. According to John S. Herold, Inc., Shell invested $1 billion over the past five years in renewable technologies and Chevron publicly committed to invest $100 million per year. DuPont and Genencor, a division of Danisco A/S, announced a commitment of $140 million over the next three years as part of a joint venture to develop solutions for the production of cellulosic ethanol. These long-term commitments and investments suggest solid, continued growth in the sector.
Cleantech deals were responsive to activity in the capital markets. During the first half of 2008, there were 115 merger and acquisition (M&A) alternative energy transactions globally. The 44 that reported acquisition values raised $7.2 billion, according to John S. Herold Inc. The largest US deal was done by private equity firm ArcLight Capital, which acquired the Tehachapi wind farm project in Kern County, CA from Australian investment group, Allco Finance, for $325 million. Another notable US corporate example is Duke Energy's $240 million acquisition of Catamount Energy, a Vermont-based wind power company from Diamond Castle Holdings. Overall, 46% of the M&A transactions were done by private equity firms and 54% were corporate deals.
Additionally, three of the 10 US domiciled IPOs in Q2 2008 were cleantech companies and accounted for $1.7 billion of the $3.9 billion raised (44%), according to Thomson Financial's SDC. The largest cleantech IPO was American Water Works, based in Voorhees, NJ, which raised over $1.2 billion. It is now the largest publicly owned water and wastewater utility company in the US. This IPO underscores the increasing interest by investors in water as a segment of cleantech, a trend that is expected to continue. Looking forward, the IPO pipeline includes seven cleantech-related companies, two of which are venture-backed. Two of these companies are looking to raise over $300 million, including Noble Environmental Power -- a Connecticut based wind company -- which is expected to raise around $375 million. "In a challenging market, investment in the cleantech sector remains strong because these companies provide cross-sector solutions to economic and environmental challenges," explained Muscat.
Note to editors: Ernst & Young uses the following definitions to classify the cleantech industry and its sub-sectors: Clean technology encompasses a diverse range of innovative products and services that optimize the use of natural resources or reduce the negative environmental impact of their use while creating value by lowering costs, improving efficiency, or providing superior performance. -- Alternative Fuels - Biofuels; natural gas (LNG) -- Energy / Electricity Generation - Gasification, tidal/wave, hydrogen, geothermal, solar, wind, hydro -- Energy Storage - Batteries, fuel cells, flywheels -- Energy Efficiency - Energy efficiency products, power and efficiency management services, industrial products -- Water - Treatment processes, conservation & monitoring -- Environment - Air, recycling, waste -- Industry Focused Products and Services - Agriculture, construction, transportation, materials, consumer products
About Ernst & Young's Strategic Growth Markets Network Ernst & Young's worldwide Strategic Growth Markets Network is dedicated to serving the changing needs of rapid-growth companies. For more than 30 years, we've helped many of the world's most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early stage venture-backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business achieve its potential. It's how Ernst & Young makes a difference.
About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential. For more information, please visit www.ey.com. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by Ernst & Young LLP, a member firm of Ernst & Young Global Limited
SOURCE Ernst & Young LLP
Sunday, August 03, 2008
China unleashes Clean Revolution
China unleashes Clean Revolution
China seizes low carbon export opportunities in clean tech race
Friday 1 August 2008 - LONDON – China is already the world’s leading renewable energy producer*and is over-taking more developed economies in exploiting valuable economic opportunities,creating green-collar jobs and leading development of critical low carbon technologies, says a newreport to be published by The Climate Group.
The report – China’s Clean Revolution - shows that China’s transition to a low carbon economy iswell underway, led by supportive government policies which are not only driving innovation in lowcarbon technologies but also diverting billions of dollars of investment into energy efficiency andrenewable energy.
The report reveals that the low carbon economy is just as attractive to developing nations likeChina, as it is for richer countries such as the UK, Japan and Germany.
China’s combination of cost advantages, a clear policy framework, a dynamic and entrepreneurialbusiness environment and abundant abatement opportunities, is proving that developing nationshave as much, if not more, to gain from investment in low carbon solutions creating green-collarjobs, social benefits and economic growth.
Despite its coal-dependent economy, the report reveals Chinese government and businesses haveembarked on a Clean Revolution that has already made it a world leader in the manufacture of solarphoto-voltaic technology (Solar PV) where its six biggest solar companies have a combined marketvalue of over USD $15 billion. Over the next 12 months, China is also set to become the world’sleading exporter of wind turbines and is competing aggressively in other low carbon marketsincluding solar water heaters, energy efficient home appliances, and rechargeable batteries.Steve Howard, CEO of The Climate Group says: “For too long, many governments, businesses andindividuals have been wary of committing to action on climate change because they perceive thatChina – the world’s largest emitter – is doing little to address the issue.
However, the reality is thatChina’s government is beginning to unleash a low carbon dragon which will power its future growth,development and energy security objectives.”
Changhua Wu, China Director, The Climate Group, says: “Far from ignoring climate change,Chinese leaders have already committed to improving energy efficiency and scaling up the growthof low carbon industries. China is beginning to pull its weight on climate change and the targetsand policies in place are in line with those being taken by ‘leading’ countries like the UK andGermany.”
Investment in renewable energy in China - almost USD $12 billion in 2007 - is almost level withworld leader Germany as a percentage of GDP. Stronger policies from the Chinese government arecreating increased demand for low carbon investment and China will require a further USD $398billion (USD $33bn per year) to meet its 2020 renewable energy goals.Steve Howard says: “China’s current trajectory will ensure it remains a strategic global hub for lowcarbon investment, innovation and growth over coming decades.”*In terms of installed renewable capacity, China leads the world, reaching 152 Gigawatts in 2007.
ENDSNotes to Editors:For more information, case studies and interviews on the report please contact:• Alfred Deng, The Climate Group (China) on +86 10 6440 3639 or adeng@theclimategroup.org• Tom Howard-Vyse, The Climate Group (Europe), on +44 (0)207 960 2991 orthoward-vyse@theclimategroup.org• Neal McGrath, The Climate Group (US), on +1 646 233 0554 ornmcgrath@theclimategroup.org
China seizes low carbon export opportunities in clean tech race
Friday 1 August 2008 - LONDON – China is already the world’s leading renewable energy producer*and is over-taking more developed economies in exploiting valuable economic opportunities,creating green-collar jobs and leading development of critical low carbon technologies, says a newreport to be published by The Climate Group.
The report – China’s Clean Revolution - shows that China’s transition to a low carbon economy iswell underway, led by supportive government policies which are not only driving innovation in lowcarbon technologies but also diverting billions of dollars of investment into energy efficiency andrenewable energy.
The report reveals that the low carbon economy is just as attractive to developing nations likeChina, as it is for richer countries such as the UK, Japan and Germany.
China’s combination of cost advantages, a clear policy framework, a dynamic and entrepreneurialbusiness environment and abundant abatement opportunities, is proving that developing nationshave as much, if not more, to gain from investment in low carbon solutions creating green-collarjobs, social benefits and economic growth.
Despite its coal-dependent economy, the report reveals Chinese government and businesses haveembarked on a Clean Revolution that has already made it a world leader in the manufacture of solarphoto-voltaic technology (Solar PV) where its six biggest solar companies have a combined marketvalue of over USD $15 billion. Over the next 12 months, China is also set to become the world’sleading exporter of wind turbines and is competing aggressively in other low carbon marketsincluding solar water heaters, energy efficient home appliances, and rechargeable batteries.Steve Howard, CEO of The Climate Group says: “For too long, many governments, businesses andindividuals have been wary of committing to action on climate change because they perceive thatChina – the world’s largest emitter – is doing little to address the issue.
However, the reality is thatChina’s government is beginning to unleash a low carbon dragon which will power its future growth,development and energy security objectives.”
Changhua Wu, China Director, The Climate Group, says: “Far from ignoring climate change,Chinese leaders have already committed to improving energy efficiency and scaling up the growthof low carbon industries. China is beginning to pull its weight on climate change and the targetsand policies in place are in line with those being taken by ‘leading’ countries like the UK andGermany.”
Investment in renewable energy in China - almost USD $12 billion in 2007 - is almost level withworld leader Germany as a percentage of GDP. Stronger policies from the Chinese government arecreating increased demand for low carbon investment and China will require a further USD $398billion (USD $33bn per year) to meet its 2020 renewable energy goals.Steve Howard says: “China’s current trajectory will ensure it remains a strategic global hub for lowcarbon investment, innovation and growth over coming decades.”*In terms of installed renewable capacity, China leads the world, reaching 152 Gigawatts in 2007.
ENDSNotes to Editors:For more information, case studies and interviews on the report please contact:• Alfred Deng, The Climate Group (China) on +86 10 6440 3639 or adeng@theclimategroup.org• Tom Howard-Vyse, The Climate Group (Europe), on +44 (0)207 960 2991 orthoward-vyse@theclimategroup.org• Neal McGrath, The Climate Group (US), on +1 646 233 0554 ornmcgrath@theclimategroup.org
Friday, August 01, 2008
Piper Jaffray Appoints Doug Cameron to Boost Global Leadership in Renewable Energy and Clean Technology
Piper Jaffray Appoints Doug Cameron to Boost Global Leadership in Renewable Energy and Clean Technology
MINNEAPOLIS--August 1 2008 --Piper Jaffray, a global leader in renewable energy and clean technology, announced today the addition of one of the leading figures in this emerging industry, Doug Cameron, as managing director and chief science advisor. Cameron formerly served as the chief scientific officer at Khosla Ventures and was director of biotechnology at Cargill. He will work with Lois Quam, leader of strategic investing for green economy and health at Piper Jaffray, in building the firm’s global franchise in renewable energy and clean technology. “The creation and growth of companies in the green economy is the economic opportunity of our lifetime,” said Quam. “Doug operates in all the scientific and business areas related to this space. Together, we will deliver on the full breadth of opportunities in energy efficiency, clean technology and renewable energy businesses. These opportunities are driven by multiple, enduring and inter-related factors: oil supply and price issues, climate change, government actions, consumer and business demand, and world population growth.”
At Piper Jaffray, Cameron will work with the firm’s industry-leading clean technology and renewable energy investment banking team in the origination and diligence of global opportunities. He will also explore alternative investments and other opportunities for the firm.
“Doug’s unique position as a scientist and business person who has worked in this industry since its creation is a remarkable asset for Piper Jaffray,” said Murray Huneke, co-head of investment banking at Piper Jaffray & Co. “His experience in China and other global settings provides a great benefit to us given our significant investment banking business in clean technology and renewable energy in China. His expertise will also allow us to assist our clients in traditional industry sectors who are seeking to respond to the environmental and natural resource imperatives they face.”
Cameron received his bachelor’s degree in biomedical engineering from Duke University and Ph.D. in biochemical engineering from the Massachusetts Institute of Technology. He will start with Piper Jaffray on Aug. 11 and will be based in Minneapolis.
“I am delighted to join a global financial services firm with a long history, breadth of offerings, and thought leadership in renewable energy and clean technology,” said Cameron. “I look forward to working with my colleagues to achieve the full potential of this space and enhance the firm’s global leadership.”
Piper Jaffray & Co. has been the number one U.S clean technology underwriter since 2006(a) and boasts an international clean technology and renewables team that stretches from Asia to Europe to the United States and includes project finance, investment banking, research, and sales and trading professionals. In addition, the firm’s private capital team launched the first U.S.-based clean technology fund of funds in 2005. Cameron’s appointment follows the hiring of Michael Covington as the head of Piper Jaffray Ltd’s European clean technology and renewables investment banking earlier this year.
(a) Source: Thompson Financial. Ranked by number of deals as of 12/5/2007
About Piper Jaffray
Piper Jaffray Companies (NYSE: PJC - News) is a leading, international middle-market investment bank and institutional securities firm, serving the needs of middle-market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 25 offices across the United States and international locations in London, Hong Kong, and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (http://www.piperjaffray.com)
© 2008 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020
Contact:Piper JaffrayMedia Relations:Rob Litt, 612-303-8266
--------------------------------------------------------------------------------Source: Piper Jaffray
MINNEAPOLIS--August 1 2008 --Piper Jaffray, a global leader in renewable energy and clean technology, announced today the addition of one of the leading figures in this emerging industry, Doug Cameron, as managing director and chief science advisor. Cameron formerly served as the chief scientific officer at Khosla Ventures and was director of biotechnology at Cargill. He will work with Lois Quam, leader of strategic investing for green economy and health at Piper Jaffray, in building the firm’s global franchise in renewable energy and clean technology. “The creation and growth of companies in the green economy is the economic opportunity of our lifetime,” said Quam. “Doug operates in all the scientific and business areas related to this space. Together, we will deliver on the full breadth of opportunities in energy efficiency, clean technology and renewable energy businesses. These opportunities are driven by multiple, enduring and inter-related factors: oil supply and price issues, climate change, government actions, consumer and business demand, and world population growth.”
At Piper Jaffray, Cameron will work with the firm’s industry-leading clean technology and renewable energy investment banking team in the origination and diligence of global opportunities. He will also explore alternative investments and other opportunities for the firm.
“Doug’s unique position as a scientist and business person who has worked in this industry since its creation is a remarkable asset for Piper Jaffray,” said Murray Huneke, co-head of investment banking at Piper Jaffray & Co. “His experience in China and other global settings provides a great benefit to us given our significant investment banking business in clean technology and renewable energy in China. His expertise will also allow us to assist our clients in traditional industry sectors who are seeking to respond to the environmental and natural resource imperatives they face.”
Cameron received his bachelor’s degree in biomedical engineering from Duke University and Ph.D. in biochemical engineering from the Massachusetts Institute of Technology. He will start with Piper Jaffray on Aug. 11 and will be based in Minneapolis.
“I am delighted to join a global financial services firm with a long history, breadth of offerings, and thought leadership in renewable energy and clean technology,” said Cameron. “I look forward to working with my colleagues to achieve the full potential of this space and enhance the firm’s global leadership.”
Piper Jaffray & Co. has been the number one U.S clean technology underwriter since 2006(a) and boasts an international clean technology and renewables team that stretches from Asia to Europe to the United States and includes project finance, investment banking, research, and sales and trading professionals. In addition, the firm’s private capital team launched the first U.S.-based clean technology fund of funds in 2005. Cameron’s appointment follows the hiring of Michael Covington as the head of Piper Jaffray Ltd’s European clean technology and renewables investment banking earlier this year.
(a) Source: Thompson Financial. Ranked by number of deals as of 12/5/2007
About Piper Jaffray
Piper Jaffray Companies (NYSE: PJC - News) is a leading, international middle-market investment bank and institutional securities firm, serving the needs of middle-market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 25 offices across the United States and international locations in London, Hong Kong, and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (http://www.piperjaffray.com)
© 2008 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020
Contact:Piper JaffrayMedia Relations:Rob Litt, 612-303-8266
--------------------------------------------------------------------------------Source: Piper Jaffray
Wednesday, July 30, 2008
Renewable Energy Stocks Sector Close-Up on Solar Stocks; “Solar Stocks - Looking for a Bottom?”
Renewable Energy Stocks Sector Close-Up on Solar Stocks; “Solar Stocks - Looking for a Bottom?”
POINT ROBERTS, WA and DELTA, BC—July 30, 2008 -- www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on solar stocks with insight from solar expert J. Peter Lynch in his recent commentary, “Solar Stocks - Looking for a Bottom?” Solar stocks saw gains at the close of the market Tuesday with SunPower up 6.81% and Evergreen Solar Inc up 5.24%.
Renewable Energy Stocks solar expert, J. Peter Lynch noted,”One thing for sure, is that when they do turn up they will move just as fast to the upside as they have to the downside. So far to date, their higher volatility has worked BOTH ways.”
He also went on to say, “This is just the beginning of the birth of the renewable energy industry. The renewable energy industry is at the same stage now as the automobile industry was in 1900.”
Renewable and Solar Energy Perspectives with J. Peter Lynch:
http://www.renewableenergystocks.com/PL/
Sector Close-Up as of Trading July 29, 2008:
SunPower Corporation (Market, News ) closed up on the day at 77.13 USD, up $4.92 (6.81%).
First Solar, Inc. (Market, News) closed at $277.57 USD, up $10.67 (4.00%).
Akeena Solar Inc. (NASDAQ:AKNS) closed at $4.61 USD, up $0.19 (4.30%).
Evergreen Solar Inc (Market, News) ended at $9.24 USD, up 0.46 (5.24%).
LDK Solar ADR (Market, News) finished at $34.99 USD, up $2.29 (7.00%).
Clear Skies Solar, Inc. (OTCBB: CSKH) closed the market at $0.90.
XsunX, Inc.: (OTCBB: XSNX) closed at $0.341 USD on volume of 339,000.
Ascent Solar Technologies Inc closed up 6.56% and then lost some of the gains in after market trading.
Arise Tech Corp (Market, News ) ended at $1.45 CAD, up (1.40%).
The Ardour Solar Energy Index (Market, News) closed at 5,077.68, up 1.49 (0.03%).
Tom Djokovich, CEO of XsunX, Inc. (OTCBB: XSNX) commented, “While many aspects of our economy may be scaling back, at XsunX we have continued to see growing interest in our thin film solar modules. Whether from utilities looking to offset the need to build more coal and gas fired power plants, or the deployment of acres of commercial rooftop solar systems to implement distributed power generation, the scope of solar use continues to rise. Opportunities for growth appear to be available just about everywhere the sun shines.”
Ezra Green, Chief Executive Officer and Chairman of Clear Skies Solar (OTCBB:CSKH) said, " We are seeing increasing demand for installations of solar energy systems, as evidenced by our announcement of a contract with Mc Gowan Builders, Inc. (MBG) to install a solar energy system at the company’s new headquarters in East Rutherford, NJ."
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTCBB: CSKH).
Clear Skies Solar, Inc. (CSS), through its wholly owned subsidiary, provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector.
CSS has become one of the premier solar electric installation companies in the country. More info can be found on the Investorideas.com Company Showcase http://www.investorideas.com/CO/CSG/
or the company website at www.clearskiesgroup.com.
Featured Showcase Solar Company XsunX: (OTCBB: XSNX)
Based in Aliso Viejo, Calif., XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi- megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. More info on XsunX, Inc. can be found on our media profile at: http://www.investorideas.com/co/xsnx/default.asp or http://www.xsunx.com/ .
About Our Green Investor Portals:
www.RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Investorideas.com Green Investor Audio Series
http://www.investorideas.com/gi/
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Disclosure: XsunX and Clear Skies Holdings compensate the website $5000 per month. In addition CSKH has issued 100,000 options. More info:
www.InvestorIdeas.com/About/Disclaimer.asp
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com
Source: RenewableEnergyStocks.com, XsunX, Clear Skies Solar
POINT ROBERTS, WA and DELTA, BC—July 30, 2008 -- www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on solar stocks with insight from solar expert J. Peter Lynch in his recent commentary, “Solar Stocks - Looking for a Bottom?” Solar stocks saw gains at the close of the market Tuesday with SunPower up 6.81% and Evergreen Solar Inc up 5.24%.
Renewable Energy Stocks solar expert, J. Peter Lynch noted,”One thing for sure, is that when they do turn up they will move just as fast to the upside as they have to the downside. So far to date, their higher volatility has worked BOTH ways.”
He also went on to say, “This is just the beginning of the birth of the renewable energy industry. The renewable energy industry is at the same stage now as the automobile industry was in 1900.”
Renewable and Solar Energy Perspectives with J. Peter Lynch:
http://www.renewableenergystocks.com/PL/
Sector Close-Up as of Trading July 29, 2008:
SunPower Corporation (Market, News ) closed up on the day at 77.13 USD, up $4.92 (6.81%).
First Solar, Inc. (Market, News) closed at $277.57 USD, up $10.67 (4.00%).
Akeena Solar Inc. (NASDAQ:AKNS) closed at $4.61 USD, up $0.19 (4.30%).
Evergreen Solar Inc (Market, News) ended at $9.24 USD, up 0.46 (5.24%).
LDK Solar ADR (Market, News) finished at $34.99 USD, up $2.29 (7.00%).
Clear Skies Solar, Inc. (OTCBB: CSKH) closed the market at $0.90.
XsunX, Inc.: (OTCBB: XSNX) closed at $0.341 USD on volume of 339,000.
Ascent Solar Technologies Inc closed up 6.56% and then lost some of the gains in after market trading.
Arise Tech Corp (Market, News ) ended at $1.45 CAD, up (1.40%).
The Ardour Solar Energy Index (Market, News) closed at 5,077.68, up 1.49 (0.03%).
Tom Djokovich, CEO of XsunX, Inc. (OTCBB: XSNX) commented, “While many aspects of our economy may be scaling back, at XsunX we have continued to see growing interest in our thin film solar modules. Whether from utilities looking to offset the need to build more coal and gas fired power plants, or the deployment of acres of commercial rooftop solar systems to implement distributed power generation, the scope of solar use continues to rise. Opportunities for growth appear to be available just about everywhere the sun shines.”
Ezra Green, Chief Executive Officer and Chairman of Clear Skies Solar (OTCBB:CSKH) said, " We are seeing increasing demand for installations of solar energy systems, as evidenced by our announcement of a contract with Mc Gowan Builders, Inc. (MBG) to install a solar energy system at the company’s new headquarters in East Rutherford, NJ."
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTCBB: CSKH).
Clear Skies Solar, Inc. (CSS), through its wholly owned subsidiary, provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector.
CSS has become one of the premier solar electric installation companies in the country. More info can be found on the Investorideas.com Company Showcase http://www.investorideas.com/CO/CSG/
or the company website at www.clearskiesgroup.com.
Featured Showcase Solar Company XsunX: (OTCBB: XSNX)
Based in Aliso Viejo, Calif., XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi- megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. More info on XsunX, Inc. can be found on our media profile at: http://www.investorideas.com/co/xsnx/default.asp or http://www.xsunx.com/ .
About Our Green Investor Portals:
www.RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Investorideas.com Green Investor Audio Series
http://www.investorideas.com/gi/
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Disclosure: XsunX and Clear Skies Holdings compensate the website $5000 per month. In addition CSKH has issued 100,000 options. More info:
www.InvestorIdeas.com/About/Disclaimer.asp
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com
Source: RenewableEnergyStocks.com, XsunX, Clear Skies Solar
Tuesday, July 29, 2008
Former Pirelli North America CEO Says Time Is Right for Electric Vehicles; Announces International Distribution With ZAP
Former Pirelli North America CEO Says Time Is Right for Electric Vehicles; Announces International Distribution With ZAP
ROME, GA - Jul 29, 2008 - Former Pirelli Tire North America president and CEO Gaetano "Guy" Mannino, after a lifetime of association with the auto industry, is speaking out about electric car technologies and his recent business venture with ZAP (OTC BB:ZAAP.OB - News).
Mannino's company, Verdek, has agreed to be the distributor for ZAP in the state of Georgia, where Mannino's business is headquartered. However, in an interview this week with www.CEONEWS.tv, Mannino talks about his plans for ZAP in the US and abroad.
"I am working with ZAP to bring the products into Europe," Mannino told CEONEWS.tv. "There is potential for a branch in Italy. In Italy it is getting close to $10 a gallon. The size of the ZAP vehicle is perfect for that market. I think there is a big opportunity." Hear the complete interview at http://www.CEONEWS.tv.
Earlier this month, www.GlobalAtlanta.com, an online news source representing Atlanta's role in the global marketplace, interviewed Guy Mannino and took a test drive in a Xebra city-speed electric car. Link: http://stories.globalatlanta.com/2008stories/016206.html
Mannino issued a statement as a call to action in June for corporate America to stop talking 'green' and start driving 'green.'
"Now is the time for corporate America, as well as Federal, State and local governments, to take action and proclaim our independence from oil and gas," he continues. "Now is the time for electric vehicles that lower fuel costs, as well as combat pollution and global warming."
For more information about Verdek and Verdek-EV, please visit the tri-lingual (English, Spanish and Italian) web sites at www.Verdek.com and www.Verdek-EV.com.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, electric, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. ZAP is also developing a new generation of vehicles using lithium batteries. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp
Contact:
Alex Campbell
ZAP
707-525-8658 x 241
acampbell@zapworld.com
Source: ZAP
ROME, GA - Jul 29, 2008 - Former Pirelli Tire North America president and CEO Gaetano "Guy" Mannino, after a lifetime of association with the auto industry, is speaking out about electric car technologies and his recent business venture with ZAP (OTC BB:ZAAP.OB - News).
Mannino's company, Verdek, has agreed to be the distributor for ZAP in the state of Georgia, where Mannino's business is headquartered. However, in an interview this week with www.CEONEWS.tv, Mannino talks about his plans for ZAP in the US and abroad.
"I am working with ZAP to bring the products into Europe," Mannino told CEONEWS.tv. "There is potential for a branch in Italy. In Italy it is getting close to $10 a gallon. The size of the ZAP vehicle is perfect for that market. I think there is a big opportunity." Hear the complete interview at http://www.CEONEWS.tv.
Earlier this month, www.GlobalAtlanta.com, an online news source representing Atlanta's role in the global marketplace, interviewed Guy Mannino and took a test drive in a Xebra city-speed electric car. Link: http://stories.globalatlanta.com/2008stories/016206.html
Mannino issued a statement as a call to action in June for corporate America to stop talking 'green' and start driving 'green.'
"Now is the time for corporate America, as well as Federal, State and local governments, to take action and proclaim our independence from oil and gas," he continues. "Now is the time for electric vehicles that lower fuel costs, as well as combat pollution and global warming."
For more information about Verdek and Verdek-EV, please visit the tri-lingual (English, Spanish and Italian) web sites at www.Verdek.com and www.Verdek-EV.com.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, electric, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. ZAP is also developing a new generation of vehicles using lithium batteries. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp
Contact:
Alex Campbell
ZAP
707-525-8658 x 241
acampbell@zapworld.com
Source: ZAP
Sunday, July 27, 2008
GT Solar International, Inc.- trading following IPO
GT Solar traded as high as $17 on its first day of trading - up from its IPO price of $16.50 but then came off with market conditions .
The new solar deal was off again on its second day of trading - closing at 12.59 USD on Friday .
A lot of market analysts think it was a case of bad timing - a bad day to come public in the market .
On July 24th GT Solar International, Inc. (NASDAQ: SOLR) announced their IPO of 30.3 million shares of its common stock priced at $16.50 per share. All of the shares are being sold by one selling stockholder, GT Solar Holdings, LLC. The selling stockholder has also granted the underwriters an option to purchase up to an additional 4,545,000 shares of common stock to cover over-allotments, if any. Credit Suisse Securities (USA) LLC and UBS Investment Bank acted as joint book-running managers for the offering, and Banc of America Securities LLC, Deutsche Bank Securities, Piper Jaffray and Thomas Weisel Partners LLC acted as co-managers.
A copy of the prospectus relating to the offering may be obtained by contacting: Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, New York, 10010-3629 (800-221-1037) or UBS Securities LLC, 299 Park Avenue, New York, New York, 10171, Attn: Prospectus Department (888-827-7275, ext. 3884).
A registration statement relating to the offering was filed with and declared effective on July 23, 2008 by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About GT Solar International, Inc.
GT Solar International, Inc. is a leading global provider of specialized manufacturing equipment and services essential for the production of photovoltaic wafers, cells and modules and polysilicon. The company’s principal products are directional solidification systems and chemical vapor deposition reactors and related equipment.
The new solar deal was off again on its second day of trading - closing at 12.59 USD on Friday .
A lot of market analysts think it was a case of bad timing - a bad day to come public in the market .
On July 24th GT Solar International, Inc. (NASDAQ: SOLR) announced their IPO of 30.3 million shares of its common stock priced at $16.50 per share. All of the shares are being sold by one selling stockholder, GT Solar Holdings, LLC. The selling stockholder has also granted the underwriters an option to purchase up to an additional 4,545,000 shares of common stock to cover over-allotments, if any. Credit Suisse Securities (USA) LLC and UBS Investment Bank acted as joint book-running managers for the offering, and Banc of America Securities LLC, Deutsche Bank Securities, Piper Jaffray and Thomas Weisel Partners LLC acted as co-managers.
A copy of the prospectus relating to the offering may be obtained by contacting: Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, New York, 10010-3629 (800-221-1037) or UBS Securities LLC, 299 Park Avenue, New York, New York, 10171, Attn: Prospectus Department (888-827-7275, ext. 3884).
A registration statement relating to the offering was filed with and declared effective on July 23, 2008 by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About GT Solar International, Inc.
GT Solar International, Inc. is a leading global provider of specialized manufacturing equipment and services essential for the production of photovoltaic wafers, cells and modules and polysilicon. The company’s principal products are directional solidification systems and chemical vapor deposition reactors and related equipment.
Thursday, July 24, 2008
Driving Green; Electric Minis Charge Up Consumers
Driving Green; Electric Minis Charge Up Consumers
Delta, B.C. July 24, 2008 -InvestorIdeas.com, Renewableenergystocks.com
Driving Green at InvestorIdeas.com- http://www.investorideas.com/dg/ with Host Dawn Van Zant
To listen to the Podcast: click here :
http://s3.amazonaws.com/static.investorideas.com/podcasts/2008/dg072408.mp3
BMW has Mini fans charged up with news that they plan to sell the much talked about all-electric versions of the Mini car in the U.S., starting summer 2009.
Mini’s USA Vice President, Jim McDowell, would not give all the specifics on the electric mini as to where, when and how many, addressing the previous “500” number rumored to be available in California, but did confirm they would be available for consumers next year. He did state,” "The world is moving in our direction. The overall market is down 10%, but small-car sales are up 11%. People are trading in Ford F-150s and Hummers for Minis."
According to a recent press release from BMW, “The MINI is also continuing to enjoy a high level of demand worldwide. The number of vehicles delivered in the period to the end of November rose by 16.1% to 202,076 (prev.yr.: 174,082) vehicles. This means that as many MINI cars were sold in the first eleven months of the year as in the whole of the top-selling year 2005 (200,400 units). In November, 19,078 (prev.yr.: 13,402) vehicles were delivered to customers. Compared to the same month last year, this was an increase of 42.4%.”
In other electric car news, General Motors announced that it will collaborate with the non-profit Electric Power Research Institute (EPRI) - more than 30 of the top electric utilities in the United States and Canada to accelerate the introduction of plug-in electric vehicles.
To research our full list of Green Automotive Stocks - visit our stock directory at RenewableEnergyStocks.com
http://www.renewableenergystocks.com/Companies/RenewableEnergy/stock_list.asp
To research Fuel cell cars – visit Fuelcellcarnews.com within Investorideas.com
Also visit the new Green Investor at Investorideas.com featuring audio interviews with Industry leaders including Google at: http://www.investorideas.com/gi/
I welcome ideas, suggestions and feedback as we travel together on the green highway.
dvanzant@investorideas.com
Driving Green http://www.investorideas.com/dg/ Sponsor – (Advertisement)
ZAP (OTCBB: ZAAP) has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, electric, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. ZAP is also developing a new generation of vehicles using lithium batteries. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops.
* ZAP is a featured company and compensates Investorideas.com for advertising.
Please read our full disclaimer at InvestorIdeas.com
http://www.investorideas.com/About/Disclaimer.asp and the driving green Podcast page http://www.renewableenergystocks.com/dg/default.asp
Compensation Disclosure: http://www.investorideas.com/About/News/Clientspecifics.asp
About Our Green Investor Portals:
www.RenewableEnergyStocks.com is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Renewable Energy and GreenTech Business and Stock News RSS Feed:
http://www.investorideas.com/RSS/feeds/RES.xml
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Delta, B.C. July 24, 2008 -InvestorIdeas.com, Renewableenergystocks.com
Driving Green at InvestorIdeas.com- http://www.investorideas.com/dg/ with Host Dawn Van Zant
To listen to the Podcast: click here :
http://s3.amazonaws.com/static.investorideas.com/podcasts/2008/dg072408.mp3
BMW has Mini fans charged up with news that they plan to sell the much talked about all-electric versions of the Mini car in the U.S., starting summer 2009.
Mini’s USA Vice President, Jim McDowell, would not give all the specifics on the electric mini as to where, when and how many, addressing the previous “500” number rumored to be available in California, but did confirm they would be available for consumers next year. He did state,” "The world is moving in our direction. The overall market is down 10%, but small-car sales are up 11%. People are trading in Ford F-150s and Hummers for Minis."
According to a recent press release from BMW, “The MINI is also continuing to enjoy a high level of demand worldwide. The number of vehicles delivered in the period to the end of November rose by 16.1% to 202,076 (prev.yr.: 174,082) vehicles. This means that as many MINI cars were sold in the first eleven months of the year as in the whole of the top-selling year 2005 (200,400 units). In November, 19,078 (prev.yr.: 13,402) vehicles were delivered to customers. Compared to the same month last year, this was an increase of 42.4%.”
In other electric car news, General Motors announced that it will collaborate with the non-profit Electric Power Research Institute (EPRI) - more than 30 of the top electric utilities in the United States and Canada to accelerate the introduction of plug-in electric vehicles.
To research our full list of Green Automotive Stocks - visit our stock directory at RenewableEnergyStocks.com
http://www.renewableenergystocks.com/Companies/RenewableEnergy/stock_list.asp
To research Fuel cell cars – visit Fuelcellcarnews.com within Investorideas.com
Also visit the new Green Investor at Investorideas.com featuring audio interviews with Industry leaders including Google at: http://www.investorideas.com/gi/
I welcome ideas, suggestions and feedback as we travel together on the green highway.
dvanzant@investorideas.com
Driving Green http://www.investorideas.com/dg/ Sponsor – (Advertisement)
ZAP (OTCBB: ZAAP) has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, electric, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. ZAP is also developing a new generation of vehicles using lithium batteries. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops.
* ZAP is a featured company and compensates Investorideas.com for advertising.
Please read our full disclaimer at InvestorIdeas.com
http://www.investorideas.com/About/Disclaimer.asp and the driving green Podcast page http://www.renewableenergystocks.com/dg/default.asp
Compensation Disclosure: http://www.investorideas.com/About/News/Clientspecifics.asp
About Our Green Investor Portals:
www.RenewableEnergyStocks.com is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Renewable Energy and GreenTech Business and Stock News RSS Feed:
http://www.investorideas.com/RSS/feeds/RES.xml
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Wednesday, July 23, 2008
General Motors and Electric Utility Industry Launch Major Collaboration to Commercialize Plug-in Vehicles
General Motors and Electric Utility Industry Launch Major Collaboration to Commercialize Plug-in Vehicles
· Paves way for customers to realize the benefits of plug-in electric vehicles such as the Chevrolet Volt and Saturn Vue Plug-in Hybrid
· Further progress on road to electrification of the automobile
San Jose, CALIF - General Motors announced today that it will collaborate with the nonprofit Electric Power Research Institute (EPRI) - more than 30 of the top electric utilities in the United States and Canada -- to accelerate the introduction of plug-in electric vehicles.
General Motors will work with EPRI and the utility companies on everything from codes and standards to grid capability to ensure that when the Volt goes to market, the infrastructure is ready - and customers can realize the full potential of these revolutionary vehicles as soon as they leave the showroom.
Details of the alliance, which is by far the largest and most-comprehensive between an automaker and the electric utility industry, were announced today in San Jose during the Plug-In 2008 Conference.
Among the many things the coalition will address include ensuring safe and convenient vehicle charging, raising the public awareness and understanding of plug-in electric vehicles, and working with public policy leaders to enable a transition from petroleum to electricity as a fuel source.
"Together with EPRI and the utility companies, we can transform automotive transportation as we know it, and get our nation and the world past oil dependence - and heading toward a future that is electric," said Jon Lauckner, GM VP of Global Program Management. "This group is taking significant steps toward making electric vehicles a reality and in helping our customers enjoy the tremendous benefits these vehicles will provide."
Using electricity to power vehicles such as the Volt and the Vue Plug-in is attractive to GM because it can simultaneously reduce the industry's dependence on petroleum and vehicle greenhouse gas emissions. Consumers will also see a tremendous benefit as the cost per equivalent mile of a vehicle powered by electricity is roughly one-fifth of the cost per mile when powered by gasoline.
The coalition of utility companies plays a critical role in developing universal technical standards that will facilitate ease of use and commercial feasibility of electric vehicles.
"EPRI is pleased to collaborate with GM and utility leaders in electric transportation to work together in advancing plug-in hybrid electric vehicle transportation," said Arshad Mansoor, Vice President of EPRI's Power Delivery & Utilization sector. "This collaboration is critical in the development of standards that will lead to the widespread use of electricity as a transportation fuel."
Last month, GM, along with EPRI, received a conditional award from the U.S. Department of Energy to create a plug-in demo program using the Saturn Vue.
In June, GM's Board of Directors committed to production of the Chevrolet Volt extended-range electric vehicle -- due in showrooms in late 2010. And, at the 2008 North American International Auto Show, GM announced its intention to produce a plug-in hybrid electric version of the Saturn Vue. Given the huge potential vehicles such as the Chevrolet Volt and Saturn Vue plug-in hybrid offers for fuel economy improvement, these programs have emerged as top priorities at GM.
"This coalition shares a vision of bringing plug in vehicles to market so we can accelerate the use of electricity as a substitute for gasoline," said Lauckner. "We are focused on creating affordable, highly desired vehicles that will take advantage of the grid - and providing accessible, reliable, convenient low cost electricity to plug-in customers. Collectively, we can realize all of the benefits of the plug-in revolution."
General Motors Corp. (NYSE: GM), the world's largest automaker, has been the annual global industry sales leader for 77 years. Founded in 1908, GM today employs about 266,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 35 countries. In 2007, nearly 9.37 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com.
GM strives to ensure that all of the information contained in a press release is accurate at the time it is issued. However, changes in materials, equipment and specifications, prices, availability, etc do occur over time. For the most up-to-date information on currently available models, please visit GM.com/shop.
· Paves way for customers to realize the benefits of plug-in electric vehicles such as the Chevrolet Volt and Saturn Vue Plug-in Hybrid
· Further progress on road to electrification of the automobile
San Jose, CALIF - General Motors announced today that it will collaborate with the nonprofit Electric Power Research Institute (EPRI) - more than 30 of the top electric utilities in the United States and Canada -- to accelerate the introduction of plug-in electric vehicles.
General Motors will work with EPRI and the utility companies on everything from codes and standards to grid capability to ensure that when the Volt goes to market, the infrastructure is ready - and customers can realize the full potential of these revolutionary vehicles as soon as they leave the showroom.
Details of the alliance, which is by far the largest and most-comprehensive between an automaker and the electric utility industry, were announced today in San Jose during the Plug-In 2008 Conference.
Among the many things the coalition will address include ensuring safe and convenient vehicle charging, raising the public awareness and understanding of plug-in electric vehicles, and working with public policy leaders to enable a transition from petroleum to electricity as a fuel source.
"Together with EPRI and the utility companies, we can transform automotive transportation as we know it, and get our nation and the world past oil dependence - and heading toward a future that is electric," said Jon Lauckner, GM VP of Global Program Management. "This group is taking significant steps toward making electric vehicles a reality and in helping our customers enjoy the tremendous benefits these vehicles will provide."
Using electricity to power vehicles such as the Volt and the Vue Plug-in is attractive to GM because it can simultaneously reduce the industry's dependence on petroleum and vehicle greenhouse gas emissions. Consumers will also see a tremendous benefit as the cost per equivalent mile of a vehicle powered by electricity is roughly one-fifth of the cost per mile when powered by gasoline.
The coalition of utility companies plays a critical role in developing universal technical standards that will facilitate ease of use and commercial feasibility of electric vehicles.
"EPRI is pleased to collaborate with GM and utility leaders in electric transportation to work together in advancing plug-in hybrid electric vehicle transportation," said Arshad Mansoor, Vice President of EPRI's Power Delivery & Utilization sector. "This collaboration is critical in the development of standards that will lead to the widespread use of electricity as a transportation fuel."
Last month, GM, along with EPRI, received a conditional award from the U.S. Department of Energy to create a plug-in demo program using the Saturn Vue.
In June, GM's Board of Directors committed to production of the Chevrolet Volt extended-range electric vehicle -- due in showrooms in late 2010. And, at the 2008 North American International Auto Show, GM announced its intention to produce a plug-in hybrid electric version of the Saturn Vue. Given the huge potential vehicles such as the Chevrolet Volt and Saturn Vue plug-in hybrid offers for fuel economy improvement, these programs have emerged as top priorities at GM.
"This coalition shares a vision of bringing plug in vehicles to market so we can accelerate the use of electricity as a substitute for gasoline," said Lauckner. "We are focused on creating affordable, highly desired vehicles that will take advantage of the grid - and providing accessible, reliable, convenient low cost electricity to plug-in customers. Collectively, we can realize all of the benefits of the plug-in revolution."
General Motors Corp. (NYSE: GM), the world's largest automaker, has been the annual global industry sales leader for 77 years. Founded in 1908, GM today employs about 266,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 35 countries. In 2007, nearly 9.37 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com.
GM strives to ensure that all of the information contained in a press release is accurate at the time it is issued. However, changes in materials, equipment and specifications, prices, availability, etc do occur over time. For the most up-to-date information on currently available models, please visit GM.com/shop.
Tuesday, July 22, 2008
BP On Clean Energy Initiatives: We’re Just Getting Started
BP On Clean Energy Initiatives: We’re Just Getting Started
Head of BP’s Alternative Energy Division, Vivian Cox Discusses Commitment to Clean Energy
POINT ROBERTS, Wash., Delta B.C., July 22, 2008 - www.InvestorIdeas.com, one of the first online investor resources providing in-depth information on renewable energy, greentech and water, provides interested investors a recent audio interview with the head of BP plc (BP) Alternative Energy Division, Vivian Cox.
Investorideas.com Green Investor Audio Series
http://www.investorideas.com/gi/
Well-known financial columnist Michael Brush continues his renewable energy audio series for Renewableenergystocks.com with a recent interview with the head of BP’s Alternative Energy Division, Vivian Cox.
When BP chief Tony Hayward commented earlier this year that he’s trying to figure out how BP shareholders can get more credit for the company’s alternative energy efforts, speculation arose that the company was planning to sell its green businesses. In this interview, the head of BP’s Alternative Energy Division, Vivian Cox, clarifies the company’s commitment to green energy development.
Vivian Cox comments. “We are investing a lot more money than our competitors in renewable energy. The real value of what we are doing is the equity value we are creating by growing these businesses.”
To hear the full interview:
Audio file: click here:
http://s3.amazonaws.com/static.investorideas.com/podcasts/2008/gi072208.mp3
Michael Brush writes a weekly market column for MSN Money. Mr. Brush has also covered business and investing for the New York Times, Money magazine and the Economist Group.
Michael also writes the Insiders Corner Exclusively for Invesorideas.com.
About Our Green Investor Portals:
www.RenewableEnergyStocks.com is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Renewable Energy and GreenTech Business and Stock News RSS Feed:
http://www.investorideas.com/RSS/feeds/RES.xml
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Green Investor Sponsors: Carbon Capture and Green Portfolio Stock: (OTCBB:MVTG),Geothermal Stock:(OTCBB:ESIV),Green Automotive Stock: (OTCBB:ZAAP),Green Automotive Stock:(OTCBB:ROTB),Solar Stock:(OTCBB:XSNX)
Solar Stock :( OTCBB: CSKH) Featured Green Companies are showcased on: www.Renewableenergystocks.com. For disclaimer and disclosure visit:
www.InvestorIdeas.com/About/Disclaimer.asp
Head of BP’s Alternative Energy Division, Vivian Cox Discusses Commitment to Clean Energy
POINT ROBERTS, Wash., Delta B.C., July 22, 2008 - www.InvestorIdeas.com, one of the first online investor resources providing in-depth information on renewable energy, greentech and water, provides interested investors a recent audio interview with the head of BP plc (BP) Alternative Energy Division, Vivian Cox.
Investorideas.com Green Investor Audio Series
http://www.investorideas.com/gi/
Well-known financial columnist Michael Brush continues his renewable energy audio series for Renewableenergystocks.com with a recent interview with the head of BP’s Alternative Energy Division, Vivian Cox.
When BP chief Tony Hayward commented earlier this year that he’s trying to figure out how BP shareholders can get more credit for the company’s alternative energy efforts, speculation arose that the company was planning to sell its green businesses. In this interview, the head of BP’s Alternative Energy Division, Vivian Cox, clarifies the company’s commitment to green energy development.
Vivian Cox comments. “We are investing a lot more money than our competitors in renewable energy. The real value of what we are doing is the equity value we are creating by growing these businesses.”
To hear the full interview:
Audio file: click here:
http://s3.amazonaws.com/static.investorideas.com/podcasts/2008/gi072208.mp3
Michael Brush writes a weekly market column for MSN Money. Mr. Brush has also covered business and investing for the New York Times, Money magazine and the Economist Group.
Michael also writes the Insiders Corner Exclusively for Invesorideas.com.
About Our Green Investor Portals:
www.RenewableEnergyStocks.com is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Renewable Energy and GreenTech Business and Stock News RSS Feed:
http://www.investorideas.com/RSS/feeds/RES.xml
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Green Investor Sponsors: Carbon Capture and Green Portfolio Stock: (OTCBB:MVTG),Geothermal Stock:(OTCBB:ESIV),Green Automotive Stock: (OTCBB:ZAAP),Green Automotive Stock:(OTCBB:ROTB),Solar Stock:(OTCBB:XSNX)
Solar Stock :( OTCBB: CSKH) Featured Green Companies are showcased on: www.Renewableenergystocks.com. For disclaimer and disclosure visit:
www.InvestorIdeas.com/About/Disclaimer.asp
Mantra Venture Group Announces Additions to its Scientific Advisory Board
Mantra Venture Group Announces Additions to its Scientific Advisory Board
OTCBB: MVTG FRANKFURT: 5MV
SEATTLE, WA, July 22, 2008 - Mantra Venture Group Ltd. (OTCBB: MVTG) is pleased to announce that it has added two valuable members to its Scientific Advisory Board: Mr. Norman Chow, President of Kemetco Research Inc., a private sector integrated science, technology and innovation company, and Mr. Joey Jung, a noted Senior Research Scientist, and the inventor of numerous patents and patent applications in the field of battery, fuel cell and electro-winning technologies. They join the initial two members of Mantra's Scientific Advisory Board, Dr. Ben Anthony, Senior Research Scientist at the National Research Council in Ottawa, Canada and Colin Oloman, Professor Emeritus at the University of British Columbia and a member of the University's Clean Energy Research Center.
Norman Chow earned a Bachelor of Applied Science Degree and a Masters of Applied Science Degree from the University of British Columbia. Continuing his education, he then became a Registered Professional Engineer (P. Eng.) in British Columbia. Mr. Chow has over 10 years of technology development experience and 6 years of contract research experience. Mr. Chow also co-invented a patented electrochemical metal cleaning process that is used worldwide by multi-national companies. He has a background in business management, international sales, project management and manufacturing.
Mr. Chow has been the winner of several prestigious awards that recognize his skills in engineering and business. In 1996, his patented technology, The DynaPower Metal Cleaning System won the Financial Post Gold Award for being the Top Environmental Technology in Canada, and then in 2004 he was named the winner of the Business in Vancouver Top Forty under 40 award.
Mr. Joey Jung earned his Masters of Applied Science Degree from the University of British Columbia in Chemical Engineering and subsequently became a Registered Professional Engineer (P. Eng.) in British Columbia. He has had a successful career in electrochemical engineering and battery research, formerly serving as Vice President and Chief Technology Officer of a publicly traded battery development company.
Larry Kristof, Mantra's C.E.O., commented, "Both Norman and Joey will be valuable additions to the Scientific Advisory Board and will complement Dr. Ben Anthony and Professor Colin Oloman. They are educated, experienced and practical: a rare combination. Another key attribute that they bring to Mantra is the fact that they have direct experience with the commercialization of innovation."
About Mantra:
Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is active in the green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth for everyone, Mantra intends to provide a highly profitable, socially and environmentally responsible investment for its shareholders.
Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV. For more information please visit us at www.mantraenergy.com.
Mantra is encouraging and enabling investors to make environmental
consumer choices with a free environmental bag. Sign up here:
http://www.mantraenergy.com/tools-and-utilities/free-bag.html
Forward-Looking Statements:
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Mantra Venture Group's filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Mantra Venture Group Ltd. is a featured Company on Investorideas.com Green portals, China portal.
For full details, click here: http://www.renewableenergystocks.com/CO/MVTG/Default.asp
Contact:
Terry Johnston,
Investor Relations,
Phone: (604) 267-3022,
Email: tjohnston@mantraenergy.com,
Website: http://www.mantraenergy.com
Source: Mantra Venture Group Ltd.
OTCBB: MVTG FRANKFURT: 5MV
SEATTLE, WA, July 22, 2008 - Mantra Venture Group Ltd. (OTCBB: MVTG) is pleased to announce that it has added two valuable members to its Scientific Advisory Board: Mr. Norman Chow, President of Kemetco Research Inc., a private sector integrated science, technology and innovation company, and Mr. Joey Jung, a noted Senior Research Scientist, and the inventor of numerous patents and patent applications in the field of battery, fuel cell and electro-winning technologies. They join the initial two members of Mantra's Scientific Advisory Board, Dr. Ben Anthony, Senior Research Scientist at the National Research Council in Ottawa, Canada and Colin Oloman, Professor Emeritus at the University of British Columbia and a member of the University's Clean Energy Research Center.
Norman Chow earned a Bachelor of Applied Science Degree and a Masters of Applied Science Degree from the University of British Columbia. Continuing his education, he then became a Registered Professional Engineer (P. Eng.) in British Columbia. Mr. Chow has over 10 years of technology development experience and 6 years of contract research experience. Mr. Chow also co-invented a patented electrochemical metal cleaning process that is used worldwide by multi-national companies. He has a background in business management, international sales, project management and manufacturing.
Mr. Chow has been the winner of several prestigious awards that recognize his skills in engineering and business. In 1996, his patented technology, The DynaPower Metal Cleaning System won the Financial Post Gold Award for being the Top Environmental Technology in Canada, and then in 2004 he was named the winner of the Business in Vancouver Top Forty under 40 award.
Mr. Joey Jung earned his Masters of Applied Science Degree from the University of British Columbia in Chemical Engineering and subsequently became a Registered Professional Engineer (P. Eng.) in British Columbia. He has had a successful career in electrochemical engineering and battery research, formerly serving as Vice President and Chief Technology Officer of a publicly traded battery development company.
Larry Kristof, Mantra's C.E.O., commented, "Both Norman and Joey will be valuable additions to the Scientific Advisory Board and will complement Dr. Ben Anthony and Professor Colin Oloman. They are educated, experienced and practical: a rare combination. Another key attribute that they bring to Mantra is the fact that they have direct experience with the commercialization of innovation."
About Mantra:
Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is active in the green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth for everyone, Mantra intends to provide a highly profitable, socially and environmentally responsible investment for its shareholders.
Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV. For more information please visit us at www.mantraenergy.com.
Mantra is encouraging and enabling investors to make environmental
consumer choices with a free environmental bag. Sign up here:
http://www.mantraenergy.com/tools-and-utilities/free-bag.html
Forward-Looking Statements:
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Mantra Venture Group's filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Mantra Venture Group Ltd. is a featured Company on Investorideas.com Green portals, China portal.
For full details, click here: http://www.renewableenergystocks.com/CO/MVTG/Default.asp
Contact:
Terry Johnston,
Investor Relations,
Phone: (604) 267-3022,
Email: tjohnston@mantraenergy.com,
Website: http://www.mantraenergy.com
Source: Mantra Venture Group Ltd.
Monday, July 21, 2008
According to the report, the top three venture capital deals in the second quarter all belonged to solar energy companies.
U.S. Venture Capital Investment Drops 12% from 2007 Highs with $6.64 Billion Invested in 2Q08
Dow Jones VentureSource Reports Fewest Deals Since 2005, Investment at 18-Month Low; IT & Health Care See Sharp Drops; Bright Spots Include Info Services, Energy
SAN FRANCISCO and NEW YORK, July 19 2008-- In the secondquarter of 2008, quarterly venture capital investment in U.S. companiesslipped below the $7 billion mark for the first time in 18 months.
According to the Quarterly U.S. Venture Capital Report released today byDow Jones VentureSource (http://www.venturecapital.dowjones.com), investment fell12% in the second quarter compared to the same period last year with $6.64billion put into 602 deals, the lowest quarterly deal count since 2005. The$7.58 billion invested in second quarter of 2007 was the second-highestquarterly totals recorded since the end of the dot-com boom in 2001.
"While the U.S. investment total is down compared to last year'simpressive second quarter, we still saw steady deal activity and investmentin the first half of the year, which is encouraging," said Jessica Canning,Director of Global Research for Dow Jones VentureSource. "Venturecapitalists commonly take the long-view when it comes to investing. WhileIPOs and acquisitions may be rare now, VCs aren't concerned about that.They're focusing on what's next -- and that's reflected in the healthyearly stage investment we're seeing in areas like renewable energy,information services and business support services."
Both IT & Health Care Decline
According to the report, the information technology (IT) industry sawdeal flow drop 27% from 390 deals in the second quarter last year to 286 inthe most recent quarter -- the lowest deal count since the first quarter of1997. Similarly, investments were down 26% from nearly $3.50 billion to$2.60 billion, the lowest quarterly investment total since 2003. Theinformation services sector, which includes the majority of today's "Web2.0" companies, was the only area within IT to see positive gains with $688million invested in 80 deals, a 20% increase over the $572 million investedin 94 deals during the same period last year.
Health care companies also fared poorly in the second quarter with theindustry only seeing 149 deals completed and $1.98 billion invested. Thatis 22% less than the $2.53 billion that was invested in 181 health caredeals in the second quarter of 2007.
"The health care industry is the most concerning at the moment, asinvestment is down 31% compared to the first six months of last year anddeal flow is at its lowest level in three years," said Ms. Canning."Considering the amount of time and capital it takes VCs to build asuccessful life science company, there may be a hesitation to continueinvesting in these companies given our current IPO market conditions."
The data showed that the majority of the health care industry'sinvestment decline in the second quarter was contained in the medicaldevices sector, which saw just 60 deals completed and $798 millioninvested, a 25% drop-off from the $1.06 billion invested in 72 deals duringthe same time last year.
Energy & Utilities Shine as Focus Shifts to Cleantech
One bright spot highlighted by the data was the energy and utilities industry, which posted a record quarter with $817 million invested in 32deals, up 160% over the $314 million put into 23 deals in the secondquarter of 2007. Most notably, there was a big surge in renewable
energy investments as the sector saw $650 million put into 26 deals, records onboth accounts.
"The movement of venture dollars from the traditional areas ofinformation technology and health care toward burgeoning sectors likerenewable energy, power management, and agriculture -- or 'cleantechnology' areas -- proves that venture capitalists are making good ontheir promise to tap opportunities in the massive energy market," said Ms.Canning.
According to the report, the top three venture capital deals in the second quarter all belonged to solar energy companies. Taking the top spotwas SunEdison of Beltsville, Maryland, which raised $131 million (as wellas an additional $30 million in separate debt financing) in its secondround. eSolar of Pasadena, Calif., garnered $130 million and BrightSourceEnergy of Oakland raised $115 million.
Compared to the second quarter of 2007, the smaller business andfinancial services (up 6% to $771 million) and industrial goods andmaterials industries (up 14% to $150 million) both posted modest gainswhile the consumer goods industry saw investment drop 24% to $121 million.
Later, Larger Deals Dominate But Early Stage Investment Continues
The quarterly report also confirmed that later-stage deals continue toattract the lion's share of venture capital with $3.48 billion, or roughly54% of the quarter's investment total, put into 225 rounds. This pushed themedian deal size of a later-stage round to a record $12 million in thefirst six months of 2008.
Early stage deal-making did not take a back seat, however. In fact, thenumber of first rounds actually ticked up from 200 rounds completed in thefirst quarter of the year to 207 in the most recent quarter while thelater-stage deal count saw a corresponding dip.
"The most encouraging part of this quarter's report is that early stage investing is holding relatively steady thus far in 2008," added Ms.Canning. "It may be harder for entrepreneurial companies to raise venturecapital these days but it's by no means impossible. Continued early stagedeal flow is a good sign that the venture industry is prepared to weatherthe economic downturn and will continue to back the next wave of disruptivetechnologies."
According to the data, the median deal size of a first round was $5million in the first half of 2008, an annual figure that has remainedunchanged since 2004.
The overall median size of a venture capital deal in the U.S. --including all stages of development -- climbed to $7.5 million in the firsthalf of 2008, the highest total on record.
Regional Perspectives
California once again dominated the venture capital activity in thesecond quarter, representing 45% of the nation's deal flow with 273 dealscompleted and nearly 51% of the capital invested with $3.36 billion. Bymajor region, the report showed:
-- The San Francisco Bay Area saw a 9% decline in overall ventureinvestment with $2.17 billion invested in 193 deals as IT investment wasoff nearly 21%.
-- Despite seeing investment slip 2% to $868 million in 67 deals,Southern California remained the second most popular region for ventureinvestment, beating out New England, which saw investment drop nearly 23%to $714 million in 76 deals.
-- The New York Metro region attracted $350 million in 42 completeddeals, 16% less than the $415 million invested in the second quarter lastyear.
-- The Potomac region was one of the two major regions to see a capitalincrease as investment ticked up 11% to $268 million in 19 deals.
-- Investment in the Washington State climbed 4% to $275 millioninvested in 25 deals.
-- Capital investment in the Research Triangle region dropped 4% to$118 million with 10 deals closed in the quarter.
-- Texas saw investment drop 65% to a paltry $90 million invested in 13deals, the region's lowest quarterly investment total in at least sixyears.
For more information about Dow Jones VentureSource or to arrange apersonal demonstration, visit http://www.venturecapital.dowjones.com or call866-291-1800.
The investment figures included in this release are based on aggregatefindings of Dow Jones proprietary U.S. research and are contained inVentureSource. This data was collected by surveying professional venturecapital firms, through in-depth interviews with company CEOs and CFOs, andfrom secondary sources. These venture capital statistics are for equityinvestments into early stage, innovative companies and do not includecompanies receiving funding solely from corporate, individual, and/orgovernment investors. No statement herein is to be construed as arecommendation to buy or sell securities or to provide investment advice.
ABOUT DOW JONES
Dow Jones & Company (http://www.dowjones.com) is a subsidiary of NewsCorporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV; http://www.newscorp.com). DowJones is a leading provider of global business news and informationservices. Its Consumer Media Group publishes The Wall Street Journal,Barron's, MarketWatch and the Far Eastern Economic Review. Its EnterpriseMedia Group includes Dow Jones Newswires, Factiva, Dow Jones ClientSolutions, Dow Jones Indexes and Dow Jones Financial Information Services.Its Local Media Group operates community-based information franchises. DowJones owns 50% of SmartMoney and 33% of Stoxx Ltd. and provides newscontent radio stations in the U.S.
SOURCE Dow Jones & Company
Dow Jones VentureSource Reports Fewest Deals Since 2005, Investment at 18-Month Low; IT & Health Care See Sharp Drops; Bright Spots Include Info Services, Energy
SAN FRANCISCO and NEW YORK, July 19 2008-- In the secondquarter of 2008, quarterly venture capital investment in U.S. companiesslipped below the $7 billion mark for the first time in 18 months.
According to the Quarterly U.S. Venture Capital Report released today byDow Jones VentureSource (http://www.venturecapital.dowjones.com), investment fell12% in the second quarter compared to the same period last year with $6.64billion put into 602 deals, the lowest quarterly deal count since 2005. The$7.58 billion invested in second quarter of 2007 was the second-highestquarterly totals recorded since the end of the dot-com boom in 2001.
"While the U.S. investment total is down compared to last year'simpressive second quarter, we still saw steady deal activity and investmentin the first half of the year, which is encouraging," said Jessica Canning,Director of Global Research for Dow Jones VentureSource. "Venturecapitalists commonly take the long-view when it comes to investing. WhileIPOs and acquisitions may be rare now, VCs aren't concerned about that.They're focusing on what's next -- and that's reflected in the healthyearly stage investment we're seeing in areas like renewable energy,information services and business support services."
Both IT & Health Care Decline
According to the report, the information technology (IT) industry sawdeal flow drop 27% from 390 deals in the second quarter last year to 286 inthe most recent quarter -- the lowest deal count since the first quarter of1997. Similarly, investments were down 26% from nearly $3.50 billion to$2.60 billion, the lowest quarterly investment total since 2003. Theinformation services sector, which includes the majority of today's "Web2.0" companies, was the only area within IT to see positive gains with $688million invested in 80 deals, a 20% increase over the $572 million investedin 94 deals during the same period last year.
Health care companies also fared poorly in the second quarter with theindustry only seeing 149 deals completed and $1.98 billion invested. Thatis 22% less than the $2.53 billion that was invested in 181 health caredeals in the second quarter of 2007.
"The health care industry is the most concerning at the moment, asinvestment is down 31% compared to the first six months of last year anddeal flow is at its lowest level in three years," said Ms. Canning."Considering the amount of time and capital it takes VCs to build asuccessful life science company, there may be a hesitation to continueinvesting in these companies given our current IPO market conditions."
The data showed that the majority of the health care industry'sinvestment decline in the second quarter was contained in the medicaldevices sector, which saw just 60 deals completed and $798 millioninvested, a 25% drop-off from the $1.06 billion invested in 72 deals duringthe same time last year.
Energy & Utilities Shine as Focus Shifts to Cleantech
One bright spot highlighted by the data was the energy and utilities industry, which posted a record quarter with $817 million invested in 32deals, up 160% over the $314 million put into 23 deals in the secondquarter of 2007. Most notably, there was a big surge in renewable
energy investments as the sector saw $650 million put into 26 deals, records onboth accounts.
"The movement of venture dollars from the traditional areas ofinformation technology and health care toward burgeoning sectors likerenewable energy, power management, and agriculture -- or 'cleantechnology' areas -- proves that venture capitalists are making good ontheir promise to tap opportunities in the massive energy market," said Ms.Canning.
According to the report, the top three venture capital deals in the second quarter all belonged to solar energy companies. Taking the top spotwas SunEdison of Beltsville, Maryland, which raised $131 million (as wellas an additional $30 million in separate debt financing) in its secondround. eSolar of Pasadena, Calif., garnered $130 million and BrightSourceEnergy of Oakland raised $115 million.
Compared to the second quarter of 2007, the smaller business andfinancial services (up 6% to $771 million) and industrial goods andmaterials industries (up 14% to $150 million) both posted modest gainswhile the consumer goods industry saw investment drop 24% to $121 million.
Later, Larger Deals Dominate But Early Stage Investment Continues
The quarterly report also confirmed that later-stage deals continue toattract the lion's share of venture capital with $3.48 billion, or roughly54% of the quarter's investment total, put into 225 rounds. This pushed themedian deal size of a later-stage round to a record $12 million in thefirst six months of 2008.
Early stage deal-making did not take a back seat, however. In fact, thenumber of first rounds actually ticked up from 200 rounds completed in thefirst quarter of the year to 207 in the most recent quarter while thelater-stage deal count saw a corresponding dip.
"The most encouraging part of this quarter's report is that early stage investing is holding relatively steady thus far in 2008," added Ms.Canning. "It may be harder for entrepreneurial companies to raise venturecapital these days but it's by no means impossible. Continued early stagedeal flow is a good sign that the venture industry is prepared to weatherthe economic downturn and will continue to back the next wave of disruptivetechnologies."
According to the data, the median deal size of a first round was $5million in the first half of 2008, an annual figure that has remainedunchanged since 2004.
The overall median size of a venture capital deal in the U.S. --including all stages of development -- climbed to $7.5 million in the firsthalf of 2008, the highest total on record.
Regional Perspectives
California once again dominated the venture capital activity in thesecond quarter, representing 45% of the nation's deal flow with 273 dealscompleted and nearly 51% of the capital invested with $3.36 billion. Bymajor region, the report showed:
-- The San Francisco Bay Area saw a 9% decline in overall ventureinvestment with $2.17 billion invested in 193 deals as IT investment wasoff nearly 21%.
-- Despite seeing investment slip 2% to $868 million in 67 deals,Southern California remained the second most popular region for ventureinvestment, beating out New England, which saw investment drop nearly 23%to $714 million in 76 deals.
-- The New York Metro region attracted $350 million in 42 completeddeals, 16% less than the $415 million invested in the second quarter lastyear.
-- The Potomac region was one of the two major regions to see a capitalincrease as investment ticked up 11% to $268 million in 19 deals.
-- Investment in the Washington State climbed 4% to $275 millioninvested in 25 deals.
-- Capital investment in the Research Triangle region dropped 4% to$118 million with 10 deals closed in the quarter.
-- Texas saw investment drop 65% to a paltry $90 million invested in 13deals, the region's lowest quarterly investment total in at least sixyears.
For more information about Dow Jones VentureSource or to arrange apersonal demonstration, visit http://www.venturecapital.dowjones.com or call866-291-1800.
The investment figures included in this release are based on aggregatefindings of Dow Jones proprietary U.S. research and are contained inVentureSource. This data was collected by surveying professional venturecapital firms, through in-depth interviews with company CEOs and CFOs, andfrom secondary sources. These venture capital statistics are for equityinvestments into early stage, innovative companies and do not includecompanies receiving funding solely from corporate, individual, and/orgovernment investors. No statement herein is to be construed as arecommendation to buy or sell securities or to provide investment advice.
ABOUT DOW JONES
Dow Jones & Company (http://www.dowjones.com) is a subsidiary of NewsCorporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV; http://www.newscorp.com). DowJones is a leading provider of global business news and informationservices. Its Consumer Media Group publishes The Wall Street Journal,Barron's, MarketWatch and the Far Eastern Economic Review. Its EnterpriseMedia Group includes Dow Jones Newswires, Factiva, Dow Jones ClientSolutions, Dow Jones Indexes and Dow Jones Financial Information Services.Its Local Media Group operates community-based information franchises. DowJones owns 50% of SmartMoney and 33% of Stoxx Ltd. and provides newscontent radio stations in the U.S.
SOURCE Dow Jones & Company
Wednesday, July 16, 2008
Google's Going Green
Google's Going Green
Dan Reicher, the Director for Climate Change and Energy Initiatives at Google.org, explains Google’s interest and investments in renewable energy
July 16, 2008
Investorideas.com Green Investor Audio Series
http://www.investorideas.com/gi/
Well-known financial columnist Michael Brush continues his renewable energy audio series for Renewableenergystocks.com with a recent interview with Dan Reicher, the Director for Climate Change and Energy Initiatives at Google.org, discussing Google’s investment in renewable energy and their vision of creating a green future.
Mr. Reicher comments on two key initiatives; renewable electricity and plug-in vehicles as part of their vision to get to a day (sooner vs. later) when millions of vehicles are plugging into a greener grid.
He comments, “We will invest tens of millions in 2008 and hundreds of millions in companies and projects over the next number of years. We expect to do good and do well. We function like a VC firm and expect to make a profit as well as make an impact.”
He goes on to say, ” I am optimistic that twenty or thirty years from now instead of renewable electricity, solar, wind, geothermal being 2 or 3% of US electricity it is 20-30 or 40% of US electricity and at the same time a significant percentage of our vehicles will be fueled from renewable electricity and plugging into a greener grid. As a result of that, we will have reduced our dependence on oil, reduced our impact on the global climate and have done great things for our economy.”
To hear the full interview:
Audio file: click here: http://s3.amazonaws.com/static.investorideas.com/podcasts/2008/gi071608.mp3
Michael Brush writes a weekly market column for MSN Money. Mr. Brush has also covered business and investing for the New York Times, Money magazine and the Economist Group.
Michael also writes the Insiders Corner Exclusively for Investorideas.com.
About Our Green Investor Portals:
http://www.renewableenergystocks.com/ is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Renewable Energy and GreenTech Business and Stock News RSS Feed:
http://www.investorideas.com/RSS/feeds/RES.xml
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Green Investor Sponsors: Carbon Capture and Green Portfolio Stock: (OTCBB:MVTG),Geothermal Stock:(OTCBB:ESIV),Green Automotive Stock: (OTCBB:ZAAP),Green Automotive Stock:(OTCBB:ROTB),Solar Stock:(OTCBB:XSNX)
Solar Stock :( OTCBB: CSKH) Featured Green Companies are showcased on: http://www.renewableenergystocks.com/. For disclaimer and disclosure visit:
www.InvestorIdeas.com/About/Disclaimer.asp
Dan Reicher, the Director for Climate Change and Energy Initiatives at Google.org, explains Google’s interest and investments in renewable energy
July 16, 2008
Investorideas.com Green Investor Audio Series
http://www.investorideas.com/gi/
Well-known financial columnist Michael Brush continues his renewable energy audio series for Renewableenergystocks.com with a recent interview with Dan Reicher, the Director for Climate Change and Energy Initiatives at Google.org, discussing Google’s investment in renewable energy and their vision of creating a green future.
Mr. Reicher comments on two key initiatives; renewable electricity and plug-in vehicles as part of their vision to get to a day (sooner vs. later) when millions of vehicles are plugging into a greener grid.
He comments, “We will invest tens of millions in 2008 and hundreds of millions in companies and projects over the next number of years. We expect to do good and do well. We function like a VC firm and expect to make a profit as well as make an impact.”
He goes on to say, ” I am optimistic that twenty or thirty years from now instead of renewable electricity, solar, wind, geothermal being 2 or 3% of US electricity it is 20-30 or 40% of US electricity and at the same time a significant percentage of our vehicles will be fueled from renewable electricity and plugging into a greener grid. As a result of that, we will have reduced our dependence on oil, reduced our impact on the global climate and have done great things for our economy.”
To hear the full interview:
Audio file: click here: http://s3.amazonaws.com/static.investorideas.com/podcasts/2008/gi071608.mp3
Michael Brush writes a weekly market column for MSN Money. Mr. Brush has also covered business and investing for the New York Times, Money magazine and the Economist Group.
Michael also writes the Insiders Corner Exclusively for Investorideas.com.
About Our Green Investor Portals:
http://www.renewableenergystocks.com/ is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Renewable Energy and GreenTech Business and Stock News RSS Feed:
http://www.investorideas.com/RSS/feeds/RES.xml
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Green Investor Sponsors: Carbon Capture and Green Portfolio Stock: (OTCBB:MVTG),Geothermal Stock:(OTCBB:ESIV),Green Automotive Stock: (OTCBB:ZAAP),Green Automotive Stock:(OTCBB:ROTB),Solar Stock:(OTCBB:XSNX)
Solar Stock :( OTCBB: CSKH) Featured Green Companies are showcased on: http://www.renewableenergystocks.com/. For disclaimer and disclosure visit:
www.InvestorIdeas.com/About/Disclaimer.asp
Monday, July 14, 2008
Catch the Wind
Catch the Wind
Green Investor at Investorideas.com
http://www.investorideas.com/gi/
By Paulo Nery
Wind is looking like one the great opportunities for this year. If you follow Jim Cramer at all you may have heard him declare this to be the year of wind. And just this past week that well-known oilman T. Boone Pickens, who is building an enormous 4,000 Megawatt wind farm in Pampa Texas, declared a major PR campaign for wind. The “Pickens Plan” (www.pickensplan.com) calls for rapid ramping up of wind power and advocates the use of natural gas vehicles. Pickens views wind as part of a solution to our rapidly increasing expenditure on foreign oil. Currently $700 Billion is going offshore each year to pay for imported oil.
Wind energy according to the Department of Energy, has the potential to deliver 1.5 times our current national consumption. And that would come from just 6% of US land. Most of the strong potential is in a corridor from West Texas all the way to North Dakota.
If you’ve wanted to invest in renewable energy, wind could be the right play for you, with growing public awareness creating demand and political pressure. But, what kind of plays are out there?
A direct play might be a company like Vestas Wind Systems (VWDRY.PK), a Danish company that manufactures wind systems. They have 35,000 turbines installed worldwide and claim a 23% market share making them the world leader in the supply of wind energy solutions. According to their own life-cycle analysis, the production from one of its 3-Megawatt turbines totally offsets the energy consumed by its production in under 7 months. So it’s a great green story and there’s nothing like investing with the market leader. However, it trades mainly in Denmark. If you want to buy it in the USA, the over-the-counter listing is quite thinly traded.
A number of the companies involved in supplying components are industrials with broader businesses. In several cases, the wind energy divisions are far outpacing the parent company for growth.
One such example is Trinity (TRN) who is known as a manufacturer of railcars. They also have a division that makes wind towers, the structures that hold up the turbine and blades. That business is clearly taking off. For their last quarter, they reported 81 cents per share of earnings which beat the consensus by 8 cents. The stock marched quickly from 32 to over 40, but has since come back down with the rest of the market and due in part to another railcar maker, Greenbrier Companies Inc. (GBX), who warned of poor railcar sales and rising material costs.
Trinity’s wind energy equipment business looks strong with a 42% increase in revenue from its last quarter ending March 31. It’s also showing a backlog of $1.6 billion in orders. On the other hand, if you extrapolate from Greenbrier, the railcar business could come under pressure. Is the broader industry strength in rails enough to carry it through? Or, will high steel and raw costs plus customer problems leading to reduced orders weigh it down? Either way, over the long term, its wind energy structures business is increasing. Currently its $390 million is 12% of the total company revenues, and 10% of profits. The company projects $800 million revenues for the wind business in five years. But even this may be very conservative if the Pickens plan has any influence on the growth of wind energy as a whole.
Another intriguing wind play is AeroVironment, Inc. (AVAV) who are known for their portfolio of small unmanned aircraft systems (UAS) that it supplies primarily to organizations within the United States Department of Defense (DoD). But why I really like it is what the company calls “architectural wind”. They manufacture attractive wind turbines designed to perch on the edge of a roof and complement a building's architecture. This could be a new direction for wind energy though it is early days for this product line - there are only 9 installations in place as of yet. AeroVironment is a strong looking company as its main business should continue to thrive with ongoing military demand. As a wind investment it might be more speculative since there’s little real information to go on at this stage, but it sure sounds like a business that could find traction in a world that increasingly values green building.
There are many other strong wind plays available, like:
Ottertail (OTTR) a utility company that also makes towers
Gamesa Corp (GCTAF.PK) a Spanish turbine maker with 18% of the market
Americas Wind Energy Corporation (AWNE.OB) medium sized wind turbines
Scottish Power Plc (SPI) a major developer and operator of wind farms in the UK and the US
While the Pickens campaign is undoubtedly raising awareness of wind energy and its potential, it might be prudent to avoid being drawn into the hype too quickly. Careful research and timing of your entry are essential, as ever.
Disclaimer:
Paulo Nery is an independent columnist for Green Investor at Investorideas.com .Paulo J. Nery writes about green business, green investing and green lifestyle. www.InvestorIdeas.com/About/Disclaimer.asp. InvestorIdeas is not affiliated or compensated by the companies mentioned in this article.
About Our Green Investor Portals:
www.RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.
Renewable Energy and GreenTech Business and Stock News at Investorideas.com
http://www.investorideas.com/RSS/feeds/RES.xml
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Disclosure:
www.InvestorIdeas.com/About/Disclaimer.asp
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com
Saturday, July 12, 2008
Renaissance Green IPO Index
for those followin green IPO's there is another wayt to track them -
The Renaissance Green IPO Index
The Renaissance Green IPO Index captures the performance of newly public companies whose products and services offer solutions to environmental problems. Green enterprises, such as solar companies and biofuel producers, frequently manifest themselves first through the IPO market, enabling the Renaissance Green IPO Index, a subset of the Renaissance IPO Index®, to capture the earliest performance of these new green business ideas. Green sectors of the Index include alternative energy, recycling, conservation, clean transport, energy efficiency, and green-enabling technologies.
http://www.ipohome.com/Index/green/greenindex.aspx
Top 10 Holdings
1. First Solar (FSLR) Energy–Renewable Fuel/Solar
2. NYMEX (NMX) Financial–Energy Derivatives/Exchanges
3. Aecom Technology (ACM) Industrial–Environmental Svcs/Engineering
4. American Water Works (AWK) Utilities-Water & Wastewater
5. JA Solar Holdings (JASO) Energy-Renewable Fuel/Solar
6. LDK Solar (LDK) Energy-Renewable Fuel/Solar
7. EnergySolutions (ES) Industrial-Conserv./Pollution & Recycling
8. Polypore International (PPO) Technology-Adv. Materials/Membranes
9. Yingli Green Energy (YGE) Energy-Renewable Fuel/Solar
10. Horsehead Holding (ZINC) Materials-Renewable & Recycling
also don't forget to check out our renewable energy stocks directory -
The Renaissance Green IPO Index
The Renaissance Green IPO Index captures the performance of newly public companies whose products and services offer solutions to environmental problems. Green enterprises, such as solar companies and biofuel producers, frequently manifest themselves first through the IPO market, enabling the Renaissance Green IPO Index, a subset of the Renaissance IPO Index®, to capture the earliest performance of these new green business ideas. Green sectors of the Index include alternative energy, recycling, conservation, clean transport, energy efficiency, and green-enabling technologies.
http://www.ipohome.com/Index/green/greenindex.aspx
Top 10 Holdings
1. First Solar (FSLR) Energy–Renewable Fuel/Solar
2. NYMEX (NMX) Financial–Energy Derivatives/Exchanges
3. Aecom Technology (ACM) Industrial–Environmental Svcs/Engineering
4. American Water Works (AWK) Utilities-Water & Wastewater
5. JA Solar Holdings (JASO) Energy-Renewable Fuel/Solar
6. LDK Solar (LDK) Energy-Renewable Fuel/Solar
7. EnergySolutions (ES) Industrial-Conserv./Pollution & Recycling
8. Polypore International (PPO) Technology-Adv. Materials/Membranes
9. Yingli Green Energy (YGE) Energy-Renewable Fuel/Solar
10. Horsehead Holding (ZINC) Materials-Renewable & Recycling
also don't forget to check out our renewable energy stocks directory -
Friday, July 11, 2008
More on the Pickens Plan and the transfer of wealth as we shift to wind, natural gas and other renewables
You can read more on the Pickens Plan and the website outlining the plan at
http://www.pickensplan.com/theplan/
In his ads when he talks about the biggest transfer of wealth we have ever seen - it does not just mean industry and business benefit - individuals can too.
Think about the money back in your pocket if you are driving a hybrid, natural gas car or electric car. A lot of people are spending $400- $500 a month in gas- cut that in half or down to 1/4 cost or no cost if you have an electric car. With BMW bringing out an electric mini - how much better can it get for drivers? And then think of the cost of goods being reduced if all the transports were converted to natural gas? If we all had an extra $200- $1000 in our pocket - that is money back into an economy or savings or mortgage. So we should change our thoughts about how we look at the current oil prices and embrace the fact that it is forcing change and it we are smart and look ahead not get paralyzed in the moment - we all win financially and the environment gets the best win of all. When we get the chance to do the right thing that makes us feel good and we win financially- that is as good as it gets!
from the site:
The United States is the Saudi Arabia of wind power.
Studies from around the world show that the Great Plains states are home to the greatest wind energy potential in the world — by far.
The Department of Energy reports that 20% of America's electricity can come from wind. North Dakota alone has the potential to provide power for more than a quarter of the country.
Today's wind turbines stand up to 410 feet tall, with blades that stretch 148 feet in length. The blades collect the wind's kinetic energy. In one year, a 3-megawatt wind turbine produces as much energy as 12,000 barrels of imported oil.
Wind power currently accounts for 48 billion kWh of electricity a year in the United States — enough to serve more than 4.5 million households. That is still only about 1% of current demand, but the potential of wind is much greater.
A 2005 Stanford University study found that there is enough wind power worldwide to satisfy global demand 7 times over — even if only 20% of wind power could be captured.
Building wind facilities in the corridor that stretches from the Texas panhandle to North Dakota could produce 20% of the electricity for the United States at a cost of $1 trillion. It would take another $200 billion to build the capacity to transmit that energy to cities and towns.
That's a lot of money, but it's a one-time cost. And compared to the $700 billion we spend on foreign oil every year, it's a bargain.
An economic revival for rural America.
Developing wind power is an investment in rural America.
To witness the economic promise of wind energy, look no further than Sweetwater, Texas.
Sweetwater was typical of many small towns in middle-America. With a shortage of good jobs, the youth of Sweetwater were leaving in search of greater opportunities. And the town's population dropped from 12,000 to under 10,000.
When a large wind power facility was built outside of town, Sweetwater experienced a revival. New economic opportunity brought the town back to life and the population has grown back up to 12,000.
In the Texas panhandle, just north of Sweetwater, is the town of Pampa, where T. Boone Pickens' Mesa Power is currently building the largest wind farm in the world.
At 4,000 megawatts — the equivalent combined output of four large coal-fire plants — the production of the completed Pampa facility will double the wind energy output of the United States.
In addition to creating new construction and maintenance jobs, thousands of Americans will be employed to manufacture the turbines and blades. These are high skill jobs that pay on a scale comparable to aerospace jobs.
Plus, wind turbines don't interfere with farming and grazing, so they don't threaten food production or existing local economies.
http://www.pickensplan.com/theplan/
In his ads when he talks about the biggest transfer of wealth we have ever seen - it does not just mean industry and business benefit - individuals can too.
Think about the money back in your pocket if you are driving a hybrid, natural gas car or electric car. A lot of people are spending $400- $500 a month in gas- cut that in half or down to 1/4 cost or no cost if you have an electric car. With BMW bringing out an electric mini - how much better can it get for drivers? And then think of the cost of goods being reduced if all the transports were converted to natural gas? If we all had an extra $200- $1000 in our pocket - that is money back into an economy or savings or mortgage. So we should change our thoughts about how we look at the current oil prices and embrace the fact that it is forcing change and it we are smart and look ahead not get paralyzed in the moment - we all win financially and the environment gets the best win of all. When we get the chance to do the right thing that makes us feel good and we win financially- that is as good as it gets!
from the site:
The United States is the Saudi Arabia of wind power.
Studies from around the world show that the Great Plains states are home to the greatest wind energy potential in the world — by far.
The Department of Energy reports that 20% of America's electricity can come from wind. North Dakota alone has the potential to provide power for more than a quarter of the country.
Today's wind turbines stand up to 410 feet tall, with blades that stretch 148 feet in length. The blades collect the wind's kinetic energy. In one year, a 3-megawatt wind turbine produces as much energy as 12,000 barrels of imported oil.
Wind power currently accounts for 48 billion kWh of electricity a year in the United States — enough to serve more than 4.5 million households. That is still only about 1% of current demand, but the potential of wind is much greater.
A 2005 Stanford University study found that there is enough wind power worldwide to satisfy global demand 7 times over — even if only 20% of wind power could be captured.
Building wind facilities in the corridor that stretches from the Texas panhandle to North Dakota could produce 20% of the electricity for the United States at a cost of $1 trillion. It would take another $200 billion to build the capacity to transmit that energy to cities and towns.
That's a lot of money, but it's a one-time cost. And compared to the $700 billion we spend on foreign oil every year, it's a bargain.
An economic revival for rural America.
Developing wind power is an investment in rural America.
To witness the economic promise of wind energy, look no further than Sweetwater, Texas.
Sweetwater was typical of many small towns in middle-America. With a shortage of good jobs, the youth of Sweetwater were leaving in search of greater opportunities. And the town's population dropped from 12,000 to under 10,000.
When a large wind power facility was built outside of town, Sweetwater experienced a revival. New economic opportunity brought the town back to life and the population has grown back up to 12,000.
In the Texas panhandle, just north of Sweetwater, is the town of Pampa, where T. Boone Pickens' Mesa Power is currently building the largest wind farm in the world.
At 4,000 megawatts — the equivalent combined output of four large coal-fire plants — the production of the completed Pampa facility will double the wind energy output of the United States.
In addition to creating new construction and maintenance jobs, thousands of Americans will be employed to manufacture the turbines and blades. These are high skill jobs that pay on a scale comparable to aerospace jobs.
Plus, wind turbines don't interfere with farming and grazing, so they don't threaten food production or existing local economies.
Wednesday, July 09, 2008
The Pickens Plan
For those of you who have not seen the recent ads on CNBC for Pickens Plan - you can go to the web site at -
http://www.pickensplan.com
It's a significant statement and we all need to take hold of what he is saying as a lifelong respected oil man. He is pushing wind and natural gas and new technology in alternative energy to deal with rising oil prices and our dependence on foreign oil.
According to his site -
We Are in a Crisis
Our dependence on foreign oil forms the intersection of the three most critical issues America currently faces: the economy, the environment and our national security.
There is a Solution
America is blessed with the world's greatest wind power corridor and abundant reserves of clean natural gas. The Pickens Plan will utilize these tremendous resources to build a bridge to the future — a blueprint to reduce foreign oil dependence by harnessing domestic energy alternatives and buying time for us to develop even greater new technologies.
The Plan calls for building new wind generation facilities that will produce 20% of our nation's electricity and allow us to use natural gas as a transportation fuel. The combination of these domestic energies can replace more than one-third of our foreign oil imports. And we can do it all in 10 years.
http://www.pickensplan.com
It's a significant statement and we all need to take hold of what he is saying as a lifelong respected oil man. He is pushing wind and natural gas and new technology in alternative energy to deal with rising oil prices and our dependence on foreign oil.
According to his site -
We Are in a Crisis
Our dependence on foreign oil forms the intersection of the three most critical issues America currently faces: the economy, the environment and our national security.
There is a Solution
America is blessed with the world's greatest wind power corridor and abundant reserves of clean natural gas. The Pickens Plan will utilize these tremendous resources to build a bridge to the future — a blueprint to reduce foreign oil dependence by harnessing domestic energy alternatives and buying time for us to develop even greater new technologies.
The Plan calls for building new wind generation facilities that will produce 20% of our nation's electricity and allow us to use natural gas as a transportation fuel. The combination of these domestic energies can replace more than one-third of our foreign oil imports. And we can do it all in 10 years.
GE Unit Surpasses $4 Billion Renewable Energy Mark with NY Wind Farm Investment
GE Unit Surpasses $4 Billion Renewable Energy Mark with NY Wind Farm Investment
STAMFORD, Conn- July 9 2008 --With a goal of investing $6 billion in renewable energy by 2010, GE Energy Financial Services surpassed the $4 billion mark today by investing in New York State’s three newest wind farms. The unit of GE (NYSE: GE ) will invest a total of $100 million in the three wind farms, whose construction began last month.
“We have reached the $4 billion milestone just five months after hitting $3 billion, confirming that renewable energy is our fastest-growing business,” said Alex Urquhart, President and CEO of GE Energy Financial Services. “Such project-level investments—coupled with our venture capital investing in clean tech, GE’s technology and research—reinforce GE’s company-wide leadership in renewable energy.”
GE Energy Financial Services closed more than $2 billion of renewable energy transactions last year, and by 2010 expects they will comprise 20-25 percent of its overall energy and water portfolio, up from about 10 percent in 2006. Including the three new farms, GE Energy Financial Services has invested or committed to invest equity worldwide in 76 wind farms, with a total capacity of more than 4,000 megawatts.
When the projects are completed during the fourth quarter of this year, GE Energy Financial Services will invest equity as the non-managing member of the three New York State farms and Noble Environmental Power, a leading wind energy developer based in Essex, Connecticut, will invest as the managing member. With this new investment, GE and Noble will have co-invested in more than 80 percent of New York State’s wind capacity. In addition to remaining a significant equity investor, Noble will construct, operate and manage the facilities, located in the predominantly dairy producing farmland of northern and western New York.
The portfolio consists of:
The Noble Chateaugay Windpark (106.5 megawatts), in Franklin County
The Noble Altona Windpark (97.5 megawatts), in Clinton County
The Noble Wethersfield Windpark (126 megawatts), in Wyoming County
The portfolio addition is the second in which GE Energy Financial Services has partnered with Noble. In June 2007, GE Energy Financial Services invested in the Noble Bliss, Clinton, and Ellenburg Windparks, also in New York State.
Workers are laying foundations and installing turbines at the new wind farms, adjacent to the three wind farms in which GE Energy Financial Services invested last year. Two are located in northern New York, about 15 miles from the Canadian border and the other is in western New York. When the three begin commercial operation, they will increase the wind producing capacity of New York State by 47 percent. Using 1.5-megawatt GE wind turbines, the three wind farms will generate a combined 330 megawatts of energy—enough to power more than 110,000 average New York homes. In total, the farms will avoid 385,000 tons of greenhouse gases per year—equivalent to taking 64,000 cars off the road.
Along with helping GE meet its renewable energy investment target, this new capital for New York wind farms helps the state meet its Renewable Portfolio Standard. That standard requires that 25 percent of the electricity consumed by New Yorkers come from renewable energy by 2013 and is expected to reduce emissions of carbon dioxide by 7.7 percent, nitrogen oxide by 6.8 percent and sulfur dioxide by 5.9 percent.
“Wind farms provide not only clean energy but more jobs,” said Kevin Walsh, Managing Director and leader of renewable energy at GE Energy Financial Services. “Local people have already been hired to construct the wind farms, build and plow the roads, and eventually maintain the projects. As we showed in a study we released last month, wind farms will create tax revenues for local and federal governments. In a world with rising fuels costs, this new form of energy—and the millions of dollars in economic benefits it provides—is truly America’s new cash crop.”
The GE Energy Financial Services study—which found that a federal tax credit for wind farms more than pays for itself through tax revenues from the projects’ income, vendors’ profits and individual workers’ wages—can be found at http://www.geenergyfinancialservices.com/press_room/PTC_release.asp.
The total local economic benefits to the communities of the three New York State wind farms—in addition to Noble Bellmont wind farm, which is not involved in this transaction—is estimated at $305.5 million, according to Noble.
The Noble portfolio investment reinforces ecomagination, GE’s program to help its customers meet their environmental challenges while expanding the company’s own portfolio of cleaner energy products.
About GE Energy Financial Services
GE Energy Financial Services’ 350 experts invest globally with a long-term view, backed by the best of GE’s technical know-how and financial strength, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With $19 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut, invests more than $5 billion annually in two of the world’s most capital-intensive industries, energy and water. In renewable energy, GE Energy Financial Services is growing its portfolio of more than $4 billion in assets in wind, solar, biomass, hydro and geothermal power. For more information, visit www.geenergyfinancialservices.com.
About GE
GE (NYSE: GE - News) is Imagination at Work—a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
Editor’s Note:
TV news B-roll of a wind farm, from general archives, is available at: http://www.geenergyfinancialservices.com/RenewablesInvestments/
Caption for Accompanying Images:
The map shows the three wind farms that GE Energy Financial Services is investing in with Noble Environmental Power. The three New York wind farms allowed the GE unit to surpass the $4 billion renewable energy investment mark.
Photo depicts the first turbine during the assembly of Wethersfield wind farm. Wethersfield is one of the three that GE Energy Financial Services is investing in with Noble Environmental Power.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5727016
Contact:
GE Energy Financial Services
Christa Bowers, 203-339-1434
Source: GE Energy Financial Services
STAMFORD, Conn- July 9 2008 --With a goal of investing $6 billion in renewable energy by 2010, GE Energy Financial Services surpassed the $4 billion mark today by investing in New York State’s three newest wind farms. The unit of GE (NYSE: GE ) will invest a total of $100 million in the three wind farms, whose construction began last month.
“We have reached the $4 billion milestone just five months after hitting $3 billion, confirming that renewable energy is our fastest-growing business,” said Alex Urquhart, President and CEO of GE Energy Financial Services. “Such project-level investments—coupled with our venture capital investing in clean tech, GE’s technology and research—reinforce GE’s company-wide leadership in renewable energy.”
GE Energy Financial Services closed more than $2 billion of renewable energy transactions last year, and by 2010 expects they will comprise 20-25 percent of its overall energy and water portfolio, up from about 10 percent in 2006. Including the three new farms, GE Energy Financial Services has invested or committed to invest equity worldwide in 76 wind farms, with a total capacity of more than 4,000 megawatts.
When the projects are completed during the fourth quarter of this year, GE Energy Financial Services will invest equity as the non-managing member of the three New York State farms and Noble Environmental Power, a leading wind energy developer based in Essex, Connecticut, will invest as the managing member. With this new investment, GE and Noble will have co-invested in more than 80 percent of New York State’s wind capacity. In addition to remaining a significant equity investor, Noble will construct, operate and manage the facilities, located in the predominantly dairy producing farmland of northern and western New York.
The portfolio consists of:
The Noble Chateaugay Windpark (106.5 megawatts), in Franklin County
The Noble Altona Windpark (97.5 megawatts), in Clinton County
The Noble Wethersfield Windpark (126 megawatts), in Wyoming County
The portfolio addition is the second in which GE Energy Financial Services has partnered with Noble. In June 2007, GE Energy Financial Services invested in the Noble Bliss, Clinton, and Ellenburg Windparks, also in New York State.
Workers are laying foundations and installing turbines at the new wind farms, adjacent to the three wind farms in which GE Energy Financial Services invested last year. Two are located in northern New York, about 15 miles from the Canadian border and the other is in western New York. When the three begin commercial operation, they will increase the wind producing capacity of New York State by 47 percent. Using 1.5-megawatt GE wind turbines, the three wind farms will generate a combined 330 megawatts of energy—enough to power more than 110,000 average New York homes. In total, the farms will avoid 385,000 tons of greenhouse gases per year—equivalent to taking 64,000 cars off the road.
Along with helping GE meet its renewable energy investment target, this new capital for New York wind farms helps the state meet its Renewable Portfolio Standard. That standard requires that 25 percent of the electricity consumed by New Yorkers come from renewable energy by 2013 and is expected to reduce emissions of carbon dioxide by 7.7 percent, nitrogen oxide by 6.8 percent and sulfur dioxide by 5.9 percent.
“Wind farms provide not only clean energy but more jobs,” said Kevin Walsh, Managing Director and leader of renewable energy at GE Energy Financial Services. “Local people have already been hired to construct the wind farms, build and plow the roads, and eventually maintain the projects. As we showed in a study we released last month, wind farms will create tax revenues for local and federal governments. In a world with rising fuels costs, this new form of energy—and the millions of dollars in economic benefits it provides—is truly America’s new cash crop.”
The GE Energy Financial Services study—which found that a federal tax credit for wind farms more than pays for itself through tax revenues from the projects’ income, vendors’ profits and individual workers’ wages—can be found at http://www.geenergyfinancialservices.com/press_room/PTC_release.asp.
The total local economic benefits to the communities of the three New York State wind farms—in addition to Noble Bellmont wind farm, which is not involved in this transaction—is estimated at $305.5 million, according to Noble.
The Noble portfolio investment reinforces ecomagination, GE’s program to help its customers meet their environmental challenges while expanding the company’s own portfolio of cleaner energy products.
About GE Energy Financial Services
GE Energy Financial Services’ 350 experts invest globally with a long-term view, backed by the best of GE’s technical know-how and financial strength, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With $19 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut, invests more than $5 billion annually in two of the world’s most capital-intensive industries, energy and water. In renewable energy, GE Energy Financial Services is growing its portfolio of more than $4 billion in assets in wind, solar, biomass, hydro and geothermal power. For more information, visit www.geenergyfinancialservices.com.
About GE
GE (NYSE: GE - News) is Imagination at Work—a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
Editor’s Note:
TV news B-roll of a wind farm, from general archives, is available at: http://www.geenergyfinancialservices.com/RenewablesInvestments/
Caption for Accompanying Images:
The map shows the three wind farms that GE Energy Financial Services is investing in with Noble Environmental Power. The three New York wind farms allowed the GE unit to surpass the $4 billion renewable energy investment mark.
Photo depicts the first turbine during the assembly of Wethersfield wind farm. Wethersfield is one of the three that GE Energy Financial Services is investing in with Noble Environmental Power.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5727016
Contact:
GE Energy Financial Services
Christa Bowers, 203-339-1434
Source: GE Energy Financial Services
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