Evergreen Solar Panels Used in 250 Kilowatt Installation at DuPont Research Facility in Hawaii
One-acre, 1,500 solar panel array at Pioneer Hi-Bred Waimea Research Center in Kauai, Hawaii is DuPont’s largest solar installation to date
MARLBORO, Mass.----Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of STRING RIBBON™ solar power products with its proprietary, low-cost silicon wafer manufacturing technology, announced today that a new 250 kilowatt solar energy power plant using its solar panels is now operational at DuPont’s Pioneer Hi-Bred Waimea Research Center in Kauai, Hawaii. The solar installation is DuPont’s largest and will supply 85 percent of the overall energy for the Research Center.
The installation contains 1,500 Evergreen Solar panels and occupies an area of one acre. It will generate enough energy each year to power approximately 64 average-sized homes. By generating renewable energy, the facility will offset carbon dioxide emissions equivalent to removing 100 cars from the road annually. DuPont expects to save approximately $200,000 per year in offset energy costs.
“This is a significant solar installation for DuPont and clearly demonstrates their commitment to renewable energy and sustainability not only as a leader in solar power usage but as a key materials and technology supplier to the photovoltaics industry,” said Terry Bailey, Evergreen Solar’s senior vice president of sales and marketing. “DuPont’s choice to use Evergreen Solar’s panels will not only show immediate results in performance but will also help DuPont accomplish its carbon goals since our panels have both the smallest carbon footprint and the quickest energy payback of any manufacturer in the business.”
This is the second solar installation by DuPont to use Evergreen Solar panels, the first of which is located at DuPont’s headquarters in Wilmington, Delaware.
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets STRING RIBBON™ solar power products using its proprietary, low-cost wafer technology. The company's patented wafer manufacturing technology uses significantly less polysilicon than conventional processes. Evergreen Solar's products provide reliable and environmentally clean electric power for residential and commercial applications globally. For more information about the company, please visit www.evergreensolar.com.
Safe Harbor Statement
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees, and involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Such risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission - including the company's Annual and Quarterly Reports on Forms 10-K and 10-Q filed with the SEC (copies of which may be obtained at the SEC's website at: http://www.sec.gov) - could impact the forward-looking statements contained in this press release. Evergreen Solar disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations, or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ.
Contacts Evergreen Solar, Inc.Chris Lawson, 508-357-2221 X7214Director Marketing Communicationsclawson@evergreensolar.comorElevate CommunicationsJim Connelly, 617-861-3654Account Supervisorjconnelly@elevatecom.com
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Thursday, February 05, 2009
Tuesday, February 03, 2009
U.S. and China in Race to the Top of Global Wind Industry
U.S. and China in Race to the Top of Global Wind Industry
The United States passed Germany to become world #1 in wind power installations, and China’s total capacity doubled for the fourth year in a row. Total worldwide installations in 2008 were more than 27,000 megawatts (MW), dominated by the three main markets in Europe, North America and Asia.
WASHINGTON---Global wind energy capacity grew by 28.8% last year, even higher than the average over the past decade, to reach total global installations of more than 120,800 MW (120.8 GW) at the end of 2008. Over 27,000 MW (27 GW) of new wind power generation capacity came online in 2008, 36% more than in 2007.
“These figures speak for themselves: there is huge and growing global demand for emissions-free wind power, which can be installed quickly, virtually everywhere in the world. Wind energy is the only power generation technology that can deliver the necessary cuts in CO2 in the critical period up to 2020, when greenhouse cases must peak and begin to decline to avoid dangerous climate change,”said Steve Sawyer, Secretary General of GWEC. “The 120 GW of global wind capacity in place at the end of 2008 will produce 260 TWh and save 158 million tons of CO2 every year.”
Wind energy is now an important player in the world’s energy markets. The global wind market for turbine installations in 2008 was worth about 36.5bn EUR or 47.5bn US$.
“Wind power is often the most attractive option for new power generation in both economic terms and in terms of increasing energy security, not to mention the environmental and economic development benefits. Volatile fossil fuel prices and unreliable supply policies from fossil fuel rich countries increase the risk of relying on conventional sources for power production,” said GWEC’s Chairman, Prof. Arthouros Zervos. “The wind industry also creates many new jobs: over 400,000 people are now employed in this industry, and that number will be in the millions in the near future.”
The leading markets in terms of new installed capacity in 2008 were the US and China. New US wind energy installations totalled 8,358 MW for a total installed capacity of 25,170 MW the US has now officially overtaken Germany (23,902 MW) as number one in wind power. Europe and North America are running neck-to-neck, with about 8,900 MW (8.9 GW) each of new installed capacity in 2008, with Asia closely following with 8,600 MW (8.6 GW).
The massive growth in the US wind market in 2008 increased the nation’s total wind power generating capacity by 50%. The new wind projects completed in 2008 account for about 42% of the entire new power-producing capacity added in the US last year, and created 35,000 new jobs, for a total of 85,000 employed in the sector in the US.
At year’s end, however, financing for new projects and new orders for turbines and components slowed to a trickle as the financial crisis began to hit the wind sector.
“The U.S. wind energy industry turned in a record-shattering performance in 2008, establishing wind as one of the leading sources of new electricity generation in the country and a job creation dynamo,” said AWEA CEO Denise Bode. “At the same time, it is clear that the economic and financial downturn have begun to take a serious toll on new wind development. We look forward to working with President Obama and the new Congress on policies to restore the industry’s vital momentum and achieve President Obama’s goal of doubling renewable energy production in three years.”
The growth in Asia’s markets has also been breathtaking; close to a third of all new capacity in 2008 was installed on the Asian continent. In particular, the wind energy boom is continuing in China, which once again doubled its installed capacity by adding about 6,300 MW (6.3 GW), reaching a total of 12,200 MW (12.2 GW).
“The Chinese wind energy market is going from strength to strength, and has once again doubled in size compared to 2007, reaching over 12 GW of total installed capacity,” said Shi Pengfei, Vice President of the Chinese Wind Energy Association (CWEA). “The outlook for the coming years is also very healthy.”
In its response to the financial crisis, the Chinese government has identified the development of wind energy as one of the key economic growth areas. “In 2009, new installed capacity is expected to nearly double again, which will be one third or more of the world’s total new installed capacity for the year,” said Li Junfeng, Secretary General of the Chinese Renewable Energy Industry Association (CREIA).
At this rate, China would be well on its way to overtake Germany and Spain to reach second place in terms of total wind power capacity in 2010. China would then have met its 2020 target of 30,000 MW (30 GW) ten years ahead of time.
The growing wind power market in China has also encouraged domestic production of wind turbines and components, and the Chinese manufacturing industry is becoming increasingly mature, stretching over the whole supply chain.
“Now, the supply is starting to not only satisfy domestic demand, but also meet international needs, especially for components,” said Li Junfeng. “In 2009, Chinese companies will start to enter the UK and Japanese markets, and orders for 200 blades have already been placed. There are also ambitions for exploring the US market in the coming years.”
In Europe, almost 8,900 MW (8.9.GW) worth of new wind turbines brought total wind power generation capacity up to nearly 66,000 MW (66 GW). This makes wind power the leading power source for new generation capacity, according to the European Wind Energy Association (EWEA). While in the past, European growth was primarily spurred by the established markets in Germany, Spain and Denmark, 2008 saw a much more balanced expansion, led by France, the UK and Italy.
“The European figures show that wind energy is the undisputed number one choice in Europe’s efforts to move towards clean, indigenous renewable power”, said Christian Kjaer, CEO of EWEA. “Wind energy is an example of an intelligent investment that puts EU citizens’ money to work in their own economies rather than transferring it to a handful of fuel-exporting nations”, commented Kjaer. “Investing in wind energy means supporting technology leadership, climate protection, energy independence, commercial opportunities and jobs.”
“We’re on track to meeting our target of saving 1.5 billion tons of CO2 per year by 2020”, concluded Steve Sawyer, “but we need a strong, global signal from governments that they are serious about moving away from fossil fuels and protecting the climate. As positive outcome to the climate negotiations throughout this year, resulting in a new global agreement in Copenhagen in December, is of fundamental importance and will send the kind of signal that the industry, investors and the finance sector need for wind power to reach its full potential.”
See tables and graphs at http://www.gwec.net/fileadmin/documents/PressReleases/PR_stats_annex_table_2nd_feb_final_final.pdf
GWEC is the voice of the global wind energy sector, bringing together the major national, regional and continental associations and leading wind energy companies. With a over 1,500 organisations, GWEC’s member associations represent the entire wind energy community. Visit www.gwec.net for more information.
AWEA is the national trade association of America’s wind industry, with more than 1,800 member companies, including global leaders in wind power and energy development, wind turbine manufacturing, component and service suppliers, and the world’s largest wind power trade show. AWEA is the voice of wind energy in the U.S., promoting renewable energy to power a cleaner, stronger America. More information on wind energy is available at the AWEA Web site: www.awea.org.
Contacts The Rosen GroupLaura Stevens, (202) 862 4372orGWECAngelika Pullen, (32) 473-947-966angelika.pullen@gwec.net
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
The United States passed Germany to become world #1 in wind power installations, and China’s total capacity doubled for the fourth year in a row. Total worldwide installations in 2008 were more than 27,000 megawatts (MW), dominated by the three main markets in Europe, North America and Asia.
WASHINGTON---Global wind energy capacity grew by 28.8% last year, even higher than the average over the past decade, to reach total global installations of more than 120,800 MW (120.8 GW) at the end of 2008. Over 27,000 MW (27 GW) of new wind power generation capacity came online in 2008, 36% more than in 2007.
“These figures speak for themselves: there is huge and growing global demand for emissions-free wind power, which can be installed quickly, virtually everywhere in the world. Wind energy is the only power generation technology that can deliver the necessary cuts in CO2 in the critical period up to 2020, when greenhouse cases must peak and begin to decline to avoid dangerous climate change,”said Steve Sawyer, Secretary General of GWEC. “The 120 GW of global wind capacity in place at the end of 2008 will produce 260 TWh and save 158 million tons of CO2 every year.”
Wind energy is now an important player in the world’s energy markets. The global wind market for turbine installations in 2008 was worth about 36.5bn EUR or 47.5bn US$.
“Wind power is often the most attractive option for new power generation in both economic terms and in terms of increasing energy security, not to mention the environmental and economic development benefits. Volatile fossil fuel prices and unreliable supply policies from fossil fuel rich countries increase the risk of relying on conventional sources for power production,” said GWEC’s Chairman, Prof. Arthouros Zervos. “The wind industry also creates many new jobs: over 400,000 people are now employed in this industry, and that number will be in the millions in the near future.”
The leading markets in terms of new installed capacity in 2008 were the US and China. New US wind energy installations totalled 8,358 MW for a total installed capacity of 25,170 MW the US has now officially overtaken Germany (23,902 MW) as number one in wind power. Europe and North America are running neck-to-neck, with about 8,900 MW (8.9 GW) each of new installed capacity in 2008, with Asia closely following with 8,600 MW (8.6 GW).
The massive growth in the US wind market in 2008 increased the nation’s total wind power generating capacity by 50%. The new wind projects completed in 2008 account for about 42% of the entire new power-producing capacity added in the US last year, and created 35,000 new jobs, for a total of 85,000 employed in the sector in the US.
At year’s end, however, financing for new projects and new orders for turbines and components slowed to a trickle as the financial crisis began to hit the wind sector.
“The U.S. wind energy industry turned in a record-shattering performance in 2008, establishing wind as one of the leading sources of new electricity generation in the country and a job creation dynamo,” said AWEA CEO Denise Bode. “At the same time, it is clear that the economic and financial downturn have begun to take a serious toll on new wind development. We look forward to working with President Obama and the new Congress on policies to restore the industry’s vital momentum and achieve President Obama’s goal of doubling renewable energy production in three years.”
The growth in Asia’s markets has also been breathtaking; close to a third of all new capacity in 2008 was installed on the Asian continent. In particular, the wind energy boom is continuing in China, which once again doubled its installed capacity by adding about 6,300 MW (6.3 GW), reaching a total of 12,200 MW (12.2 GW).
“The Chinese wind energy market is going from strength to strength, and has once again doubled in size compared to 2007, reaching over 12 GW of total installed capacity,” said Shi Pengfei, Vice President of the Chinese Wind Energy Association (CWEA). “The outlook for the coming years is also very healthy.”
In its response to the financial crisis, the Chinese government has identified the development of wind energy as one of the key economic growth areas. “In 2009, new installed capacity is expected to nearly double again, which will be one third or more of the world’s total new installed capacity for the year,” said Li Junfeng, Secretary General of the Chinese Renewable Energy Industry Association (CREIA).
At this rate, China would be well on its way to overtake Germany and Spain to reach second place in terms of total wind power capacity in 2010. China would then have met its 2020 target of 30,000 MW (30 GW) ten years ahead of time.
The growing wind power market in China has also encouraged domestic production of wind turbines and components, and the Chinese manufacturing industry is becoming increasingly mature, stretching over the whole supply chain.
“Now, the supply is starting to not only satisfy domestic demand, but also meet international needs, especially for components,” said Li Junfeng. “In 2009, Chinese companies will start to enter the UK and Japanese markets, and orders for 200 blades have already been placed. There are also ambitions for exploring the US market in the coming years.”
In Europe, almost 8,900 MW (8.9.GW) worth of new wind turbines brought total wind power generation capacity up to nearly 66,000 MW (66 GW). This makes wind power the leading power source for new generation capacity, according to the European Wind Energy Association (EWEA). While in the past, European growth was primarily spurred by the established markets in Germany, Spain and Denmark, 2008 saw a much more balanced expansion, led by France, the UK and Italy.
“The European figures show that wind energy is the undisputed number one choice in Europe’s efforts to move towards clean, indigenous renewable power”, said Christian Kjaer, CEO of EWEA. “Wind energy is an example of an intelligent investment that puts EU citizens’ money to work in their own economies rather than transferring it to a handful of fuel-exporting nations”, commented Kjaer. “Investing in wind energy means supporting technology leadership, climate protection, energy independence, commercial opportunities and jobs.”
“We’re on track to meeting our target of saving 1.5 billion tons of CO2 per year by 2020”, concluded Steve Sawyer, “but we need a strong, global signal from governments that they are serious about moving away from fossil fuels and protecting the climate. As positive outcome to the climate negotiations throughout this year, resulting in a new global agreement in Copenhagen in December, is of fundamental importance and will send the kind of signal that the industry, investors and the finance sector need for wind power to reach its full potential.”
See tables and graphs at http://www.gwec.net/fileadmin/documents/PressReleases/PR_stats_annex_table_2nd_feb_final_final.pdf
GWEC is the voice of the global wind energy sector, bringing together the major national, regional and continental associations and leading wind energy companies. With a over 1,500 organisations, GWEC’s member associations represent the entire wind energy community. Visit www.gwec.net for more information.
AWEA is the national trade association of America’s wind industry, with more than 1,800 member companies, including global leaders in wind power and energy development, wind turbine manufacturing, component and service suppliers, and the world’s largest wind power trade show. AWEA is the voice of wind energy in the U.S., promoting renewable energy to power a cleaner, stronger America. More information on wind energy is available at the AWEA Web site: www.awea.org.
Contacts The Rosen GroupLaura Stevens, (202) 862 4372orGWECAngelika Pullen, (32) 473-947-966angelika.pullen@gwec.net
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Thursday, January 29, 2009
World Economic Forum Report: US $ 515 Billion needed in Green Investments
World Economic Forum Report: US $ 515 Billion needed in Green Investments
Davos-Klosters, Switzerland, 29 January 2009 − The World Economic Forum today released the Green Investing: Towards a Clean Energy Infrastructure report. The report outlines the scale of the investments needed to develop a clean energy infrastructure and move to towards a low-carbon economy.
New Energy Finance, which collaborated with the World Economic Forum on the report, warns that unless at least US$ 515 billion per annum is invested in clean energy between now and 2030, carbon emissions will reach a level deemed unsustainable by scientists, causing temperatures to rise by two degrees globally.
The report identifies eight emerging, large-scale clean energy sectors that are expected to significantly contribute in the move to a clean energy infrastructure of the future: onshore wind, offshore wind, solar photovoltaic, solar thermal electricity generation, municipal solar waste-to-energy, sugar-based ethanol, cellulosic and next generation biofuels, and geothermal power.
The report’s authors, Max von Bismarck and Anuradha Gurung from the World Economic Forum, and Chris Greenwood and Michael Liebreich from New Energy Finance, argue that “enormous investment in energy infrastructure is required to address the twin threats of energy insecurity and climate change. In light of the global financial crisis, it is crucial that every dollar is made to ‘multi-task’ to create a sustainable low-carbon economy.”
Clean energy opportunities have the potential to generate significant economic returns. The report shows that even after a tumultuous 2008, an index of the world’s 90 leading clean energy companies had a five-year compounded annualized return of almost 10%, unmatched by the world’s major stock indices.
Other highlights from the report include:• Clean energy investments increased from around US$ 30 billion in 2004 to over US$ 140 billion by 2008. Investments in 2008 exceeded expectations at US$ 155 billion (the report is based on projections for 2008 – which suggests that US$ 142 billion would be invested by year-end).• Investment in clean energy has not only increased, but has also diversified geographically. Developing countries attracted 23% (US$ 26 billion) of asset financing in 2007, compared to 13% (US$ 1.8 billion) in 2004.• In addition, four key enablers for a shift to clean energy will be energy efficiency, smart grids, energy storage, and carbon capture and storage.• Well-developed conditions for innovation, markets for clean energy through public procurement, energy efficiency standards and stable and simple policies are essential to meet the climate change challenge.
Earlier today, speaking at a press conference at the World Economic Forum Annual Meeting 2009, Yvo de Boer, Executive Secretary of the UNFCCC, Connie Hedegaard, Minister of Climate and Energy for Denmark, and Lord Nicholas Stern, among many others – including senior business and NGO representatives and Members of the World Economic Forum’s Global Agenda Council on Climate Change – issued a statement urging the link of the economy and climate agendas in 2009. They warn against complacency in the UN climate talks, due to conclude in December in Copenhagen to replace the Kyoto Protocol.
Their statement suggests using some of the money available from fiscal stimulus packages to invest in activities that can provide jobs as well as create low emission options. They say that linking the economy and climate discussions in this way can create a “diplomatic opportunity” in 2009.
They urge business, governments, experts and civil society groups to come together to design “win-win” projects and collaborations – projects that are good for the economy in the short term and that help to tackle climate change in the longer term. The group calls for this “unprecedented collaboration” to be launched at the World Economic Forum Annual Meeting, and to use 2009 to build this set of projects. They say that this could also help the UN climate talks. The full statement is available here.
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Davos-Klosters, Switzerland, 29 January 2009 − The World Economic Forum today released the Green Investing: Towards a Clean Energy Infrastructure report. The report outlines the scale of the investments needed to develop a clean energy infrastructure and move to towards a low-carbon economy.
New Energy Finance, which collaborated with the World Economic Forum on the report, warns that unless at least US$ 515 billion per annum is invested in clean energy between now and 2030, carbon emissions will reach a level deemed unsustainable by scientists, causing temperatures to rise by two degrees globally.
The report identifies eight emerging, large-scale clean energy sectors that are expected to significantly contribute in the move to a clean energy infrastructure of the future: onshore wind, offshore wind, solar photovoltaic, solar thermal electricity generation, municipal solar waste-to-energy, sugar-based ethanol, cellulosic and next generation biofuels, and geothermal power.
The report’s authors, Max von Bismarck and Anuradha Gurung from the World Economic Forum, and Chris Greenwood and Michael Liebreich from New Energy Finance, argue that “enormous investment in energy infrastructure is required to address the twin threats of energy insecurity and climate change. In light of the global financial crisis, it is crucial that every dollar is made to ‘multi-task’ to create a sustainable low-carbon economy.”
Clean energy opportunities have the potential to generate significant economic returns. The report shows that even after a tumultuous 2008, an index of the world’s 90 leading clean energy companies had a five-year compounded annualized return of almost 10%, unmatched by the world’s major stock indices.
Other highlights from the report include:• Clean energy investments increased from around US$ 30 billion in 2004 to over US$ 140 billion by 2008. Investments in 2008 exceeded expectations at US$ 155 billion (the report is based on projections for 2008 – which suggests that US$ 142 billion would be invested by year-end).• Investment in clean energy has not only increased, but has also diversified geographically. Developing countries attracted 23% (US$ 26 billion) of asset financing in 2007, compared to 13% (US$ 1.8 billion) in 2004.• In addition, four key enablers for a shift to clean energy will be energy efficiency, smart grids, energy storage, and carbon capture and storage.• Well-developed conditions for innovation, markets for clean energy through public procurement, energy efficiency standards and stable and simple policies are essential to meet the climate change challenge.
Earlier today, speaking at a press conference at the World Economic Forum Annual Meeting 2009, Yvo de Boer, Executive Secretary of the UNFCCC, Connie Hedegaard, Minister of Climate and Energy for Denmark, and Lord Nicholas Stern, among many others – including senior business and NGO representatives and Members of the World Economic Forum’s Global Agenda Council on Climate Change – issued a statement urging the link of the economy and climate agendas in 2009. They warn against complacency in the UN climate talks, due to conclude in December in Copenhagen to replace the Kyoto Protocol.
Their statement suggests using some of the money available from fiscal stimulus packages to invest in activities that can provide jobs as well as create low emission options. They say that linking the economy and climate discussions in this way can create a “diplomatic opportunity” in 2009.
They urge business, governments, experts and civil society groups to come together to design “win-win” projects and collaborations – projects that are good for the economy in the short term and that help to tackle climate change in the longer term. The group calls for this “unprecedented collaboration” to be launched at the World Economic Forum Annual Meeting, and to use 2009 to build this set of projects. They say that this could also help the UN climate talks. The full statement is available here.
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Wednesday, January 28, 2009
Wind Energy Grows by Record 8,300 MW in 2008
Wind Energy Grows by Record 8,300 MW in 2008
Smart policies, stimulus bill needed to maintain momentum in 2009
WASHINGTON---The U.S. wind energy industry shattered all previous records in 2008 by installing 8,358 megawatts (MW) of new generating capacity (enough to serve over 2 million homes), the American Wind Energy Association (AWEA) said today, even as it warned of an uncertain outlook for 2009 due to the continuing financial crisis.
The massive growth in 2008 swelled the nation’s total wind power generating capacity by 50% and channeled an investment of some $17 billion into the economy, positioning wind power as one of the leading sources of new power generation in the country today along with natural gas, AWEA added. At year’s end, however, financing for new projects and orders for turbine components slowed to a trickle and layoffs began to hit the wind turbine manufacturing sector.
“Our numbers are both exciting and sobering,” said AWEA CEO Denise Bode. “The U.S. wind energy industry’s performance in 2008 confirms that wind is an economic and job creation dynamo, ready to deliver on the President’s call to double renewable energy production in three years. At the same time, it is clear that the economic and financial downturn have begun to take a serious toll on new wind development. We are already seeing layoffs in the area where wind’s promise is greatest for our economy: the wind power manufacturing sector. Quick action in the stimulus bill is vital to restore the industry’s momentum and create jobs as we help make our country more secure and leave a more stable climate for our children.”
The new wind projects completed in 2008 account for about 42% of the entire new power-producing capacity added nationally last year, according to initial estimates, and will avoid nearly 44 million tons of carbon emissions, the equivalent of taking over 7 million cars off of the road.
The amount that the industry brought online in the 4th quarter alone - 4112 MW - exceeds annual additions for every year except 2007. In all, wind energy generating capacity in the U.S. now stands at 25,170 MW, producing enough electricity to power the equivalent of close to 7 million households and strengthening our national energy supply with a clean, inexhaustible, homegrown source of energy.
Iowa, with 2,790 MW installed, surpassed California (2,517MW) in wind power generating capacity. The top five states in terms of capacity installed are now:
-Texas, with 7116 MW
-Iowa, with 2790 MW
-California, with 2517 MW
-Minnesota, with 1752 MW
-Washington, with 1375 MW
Oregon moved into the club of states with more than 1,000MW installed, which now counts seven states: Texas, Iowa, California, Minnesota, Washington, Colorado, and Oregon.
About 85,000 people are employed in the wind industry today, up from 50,000 a year ago, and hold jobs in areas as varied as turbine component manufacturing, construction and installation of wind turbines, wind turbine operations and maintenance, legal and marketing services, and more. About 8,000 of these jobs are construction jobs, and a significant number of those will be lost in 2009 if financing for the pipeline of new projects is not quickly restored.
Wind power’s recent growth has also accelerated job creation in manufacturing, where the share of domestically manufactured wind turbine components has grown from under 30% in 2005 to about 50% in 2008. Wind turbine and turbine component manufacturers announced, added or expanded 70 new facilities in the past two years, including over 55 in 2008 alone. Those new manufacturing facilities created 13,000 new direct jobs in 2008. However, because of the recent slowdown in orders, wind turbine and turbine component manufacturers in different parts of the country are beginning to announce layoffs.
“The hope is that provisions such as those included in the House stimulus bill to restore the effectiveness of the tax incentives for renewable energy will quickly become law and provide the capital needed to continue to build projects,” said Bode. “Because wind projects can be built quickly, positive legislation from Congress will have immediate and visible effects. Looking forward, it will also be important for the new Administration and Congress to put in place long-term, supportive renewable energy policies to make the new clean energy economy a reality.”
State-by-state installation information is available at www.awea.org/projects. For more on the policies that are needed see www.newwindagenda.org. For media/satellite availability on Wednesday, January 28, please contact Shawna Seldon, The Rosen Group, (212) 255-7541 or (cell) (917) 971-7852.
About the American Wind Energy Association (AWEA):
AWEA is the national trade association of America’s wind industry, with more than 1,800 member companies, including global leaders in wind power and energy development, wind turbine manufacturing, component and service suppliers, and the world’s largest wind power trade show. AWEA is the voice of wind energy in the U.S., promoting renewable energy to power a cleaner, stronger America. More information on wind energy is available at the AWEA Web site: www.awea.org.
Contacts AWEAJulie Clendenin, 202-384-3090orShawna Seldon, 212-255-7541
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Smart policies, stimulus bill needed to maintain momentum in 2009
WASHINGTON---The U.S. wind energy industry shattered all previous records in 2008 by installing 8,358 megawatts (MW) of new generating capacity (enough to serve over 2 million homes), the American Wind Energy Association (AWEA) said today, even as it warned of an uncertain outlook for 2009 due to the continuing financial crisis.
The massive growth in 2008 swelled the nation’s total wind power generating capacity by 50% and channeled an investment of some $17 billion into the economy, positioning wind power as one of the leading sources of new power generation in the country today along with natural gas, AWEA added. At year’s end, however, financing for new projects and orders for turbine components slowed to a trickle and layoffs began to hit the wind turbine manufacturing sector.
“Our numbers are both exciting and sobering,” said AWEA CEO Denise Bode. “The U.S. wind energy industry’s performance in 2008 confirms that wind is an economic and job creation dynamo, ready to deliver on the President’s call to double renewable energy production in three years. At the same time, it is clear that the economic and financial downturn have begun to take a serious toll on new wind development. We are already seeing layoffs in the area where wind’s promise is greatest for our economy: the wind power manufacturing sector. Quick action in the stimulus bill is vital to restore the industry’s momentum and create jobs as we help make our country more secure and leave a more stable climate for our children.”
The new wind projects completed in 2008 account for about 42% of the entire new power-producing capacity added nationally last year, according to initial estimates, and will avoid nearly 44 million tons of carbon emissions, the equivalent of taking over 7 million cars off of the road.
The amount that the industry brought online in the 4th quarter alone - 4112 MW - exceeds annual additions for every year except 2007. In all, wind energy generating capacity in the U.S. now stands at 25,170 MW, producing enough electricity to power the equivalent of close to 7 million households and strengthening our national energy supply with a clean, inexhaustible, homegrown source of energy.
Iowa, with 2,790 MW installed, surpassed California (2,517MW) in wind power generating capacity. The top five states in terms of capacity installed are now:
-Texas, with 7116 MW
-Iowa, with 2790 MW
-California, with 2517 MW
-Minnesota, with 1752 MW
-Washington, with 1375 MW
Oregon moved into the club of states with more than 1,000MW installed, which now counts seven states: Texas, Iowa, California, Minnesota, Washington, Colorado, and Oregon.
About 85,000 people are employed in the wind industry today, up from 50,000 a year ago, and hold jobs in areas as varied as turbine component manufacturing, construction and installation of wind turbines, wind turbine operations and maintenance, legal and marketing services, and more. About 8,000 of these jobs are construction jobs, and a significant number of those will be lost in 2009 if financing for the pipeline of new projects is not quickly restored.
Wind power’s recent growth has also accelerated job creation in manufacturing, where the share of domestically manufactured wind turbine components has grown from under 30% in 2005 to about 50% in 2008. Wind turbine and turbine component manufacturers announced, added or expanded 70 new facilities in the past two years, including over 55 in 2008 alone. Those new manufacturing facilities created 13,000 new direct jobs in 2008. However, because of the recent slowdown in orders, wind turbine and turbine component manufacturers in different parts of the country are beginning to announce layoffs.
“The hope is that provisions such as those included in the House stimulus bill to restore the effectiveness of the tax incentives for renewable energy will quickly become law and provide the capital needed to continue to build projects,” said Bode. “Because wind projects can be built quickly, positive legislation from Congress will have immediate and visible effects. Looking forward, it will also be important for the new Administration and Congress to put in place long-term, supportive renewable energy policies to make the new clean energy economy a reality.”
State-by-state installation information is available at www.awea.org/projects. For more on the policies that are needed see www.newwindagenda.org. For media/satellite availability on Wednesday, January 28, please contact Shawna Seldon, The Rosen Group, (212) 255-7541 or (cell) (917) 971-7852.
About the American Wind Energy Association (AWEA):
AWEA is the national trade association of America’s wind industry, with more than 1,800 member companies, including global leaders in wind power and energy development, wind turbine manufacturing, component and service suppliers, and the world’s largest wind power trade show. AWEA is the voice of wind energy in the U.S., promoting renewable energy to power a cleaner, stronger America. More information on wind energy is available at the AWEA Web site: www.awea.org.
Contacts AWEAJulie Clendenin, 202-384-3090orShawna Seldon, 212-255-7541
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Renewable Energy Stocks Sector Close-Up; Investors See Green in North American Stocks as well as German Solar Stocks
Renewable Energy Stocks Sector Close-Up; Investors See Green in North American Stocks as well as German Solar Stocks
POINT ROBERTS, WA —January 28, 2009 - www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on renewable energy stocks trading as of January 27th, 2009.
Sector Close-Up as of Trading Close January 27, 2009:
Akeena Solar Inc. (NASDAQ:AKNS) closed down on the day, but up in after market hours.
Archer-Daniels-Midland Co. (NYSE:ADM) had gains of $0.29.
Canadian Solar Inc. (NasdaqGM: CSIQ) increased $0.12 (2.30%).
Carbon Sciences, Inc. (OTCBB: CABN) closed unchanged on the day.
China Technology Development (NASDAQ: CTDC) closed up $ 0.05 (2.24 %),
Clean Energy Fuels Corp. (NASDAQ:CLNE) closed down $0.02 but up in after hours trading.
Energy Conversion Devices, Inc. (NasdaqNM: ENER) was up $ 0.71 (2.86%) and continued gains in after hours trading.
Evergreen Solar Inc (NASDAQ:ESLR) closed up $0.09 (4.25%).
First Solar, Inc. (NASDAQ: FSLR) had gains of $2.03.
GWS TECHNOLOGIES INC (OTCBB: GWSC) closed down at $0.26.
ICP Solar Technologies Inc. (OTCBB: ICPR) traded up $ 0.02 (15.03%).
Mantra Venture Group Ltd. (OTCBB: MVTG) closed at $0.359.
OriginOil, Inc (OTCBB: OOIL) closed up $0.01 (2.78%).
SunPower Corporation (NasdaqGS: SPWRA) had gains of $0.75 (2.60%).
Suntech Power Holdings Co. Ltd. (NYSE: STP) moved up $0.55 (6.21%).
Sustainable Energy Technologies Ltd (TSX.V: STG) closed unchanged.
Westport Innovations Inc. (WPT.TO) was up $ 0.03 (0.45%)
Yingli Green Energy (NYSE: YGE) closed up $0.06 (1.14%) and another $0.12 (2.25%) after hours.
XsunX Inc. (OTCBB: XSNXE) closed at $0.175.
German solar stocks saw gains with: Phoenix Solar AG (PS4 GY) up 11%,
Q-Cells SE (QCE GY) up 4.3 percent to 19.93 euro and Solarworld AG (SWV GY) gaining 7.3 % 16.27 euros.
Investor Ideas solar expert J. Peter Lynch noted, “German solar stocks showed some life yesterday after two of the strongest German PV companies Q-Cells and Solarworld confirmed strong outlooks for 2009. Both companies are close to giving technical buy signals, especially Solarworld, which is close to breaking through upside resistance. I consider both of these companies to be the leaders of the German PV industry group.”
Read Renewable and Solar Energy Perspectives with J. Peter Lynch http://www.renewableenergystocks.com/PL/
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Featured Showcase Renewable Energy Stocks:
XsunX Inc.: (OTCBB: XSNX)
Recent News: XsunX Announces Sales Contract to Supply 4 Megawatts of its ASI-120 Thin Film Solar Modules
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/
OriginOil, Inc: (OTCBB: OOIL)
Watch video: CEO Riggs Eckelberry discusses algae as a reliable source for biofuel production and its future under a new administration. “This is the beginning of a new industry for investors he comments.”
http://www.emergingcompany.com/volume13week3f.htm
OriginOil, Inc. is developing a breakthrough technology that will transform algae, the most promising source of renewable oil, into a true competitor to petroleum. Much of the world's oil and gas is made up of ancient algae deposits. Today, our technology will produce "new oil" from algae, through a cost-effective, high-speed manufacturing process. This endless supply of new oil can be used for many products such as diesel, gasoline, jet fuel, plastics and solvents without the global warming effects of petroleum. Other oil producing feedstock such as corn and sugarcane often destroy vital farmlands and rainforests, disrupt global food supplies and create new environmental problems. Our unique technology, based on algae, is targeted at fundamentally changing our source of oil without disrupting the environment or food supplies. http://www.investorideas.com/CO/OOIL/Default.asp and www.originoil.com.
Carbon Sciences, Inc. (OTCBB: CABN)
Recent news: Carbon Sciences Readies for Growth as Obama Inauguration Marks Dramatic Shift in U.S. Policy and Federal Support for Renewable Energy
Carbon Sciences, Inc. is developing a breakthrough technology to transform carbon dioxide (CO2) emissions into the basic fuel building blocks required to produce gasoline, diesel fuel, jet fuel and other portable fuels. Innovating at the intersection of chemical engineering and bio-engineering disciplines, we are developing a highly scalable biocatalytic process to meet the fuel needs of the world. Company Showcase Profile page: http://www.investorideas.com/co/cabn/ and http://www.carbonsciences.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 Stocks Directory:
Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Content including the complete renewable energy stocks directory. Learn more: http://www.investorideas.com/membership/
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
Compensation disclosure for XSNX, CABN, OOIL, MVTG:
http://www.investorideas.com/About/News/Clientspecifics.asp
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com
Source: RenewableEnergyStocks.com, XsunX, OriginOil, Inc, Carbon Sciences, Inc
POINT ROBERTS, WA —January 28, 2009 - www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on renewable energy stocks trading as of January 27th, 2009.
Sector Close-Up as of Trading Close January 27, 2009:
Akeena Solar Inc. (NASDAQ:AKNS) closed down on the day, but up in after market hours.
Archer-Daniels-Midland Co. (NYSE:ADM) had gains of $0.29.
Canadian Solar Inc. (NasdaqGM: CSIQ) increased $0.12 (2.30%).
Carbon Sciences, Inc. (OTCBB: CABN) closed unchanged on the day.
China Technology Development (NASDAQ: CTDC) closed up $ 0.05 (2.24 %),
Clean Energy Fuels Corp. (NASDAQ:CLNE) closed down $0.02 but up in after hours trading.
Energy Conversion Devices, Inc. (NasdaqNM: ENER) was up $ 0.71 (2.86%) and continued gains in after hours trading.
Evergreen Solar Inc (NASDAQ:ESLR) closed up $0.09 (4.25%).
First Solar, Inc. (NASDAQ: FSLR) had gains of $2.03.
GWS TECHNOLOGIES INC (OTCBB: GWSC) closed down at $0.26.
ICP Solar Technologies Inc. (OTCBB: ICPR) traded up $ 0.02 (15.03%).
Mantra Venture Group Ltd. (OTCBB: MVTG) closed at $0.359.
OriginOil, Inc (OTCBB: OOIL) closed up $0.01 (2.78%).
SunPower Corporation (NasdaqGS: SPWRA) had gains of $0.75 (2.60%).
Suntech Power Holdings Co. Ltd. (NYSE: STP) moved up $0.55 (6.21%).
Sustainable Energy Technologies Ltd (TSX.V: STG) closed unchanged.
Westport Innovations Inc. (WPT.TO) was up $ 0.03 (0.45%)
Yingli Green Energy (NYSE: YGE) closed up $0.06 (1.14%) and another $0.12 (2.25%) after hours.
XsunX Inc. (OTCBB: XSNXE) closed at $0.175.
German solar stocks saw gains with: Phoenix Solar AG (PS4 GY) up 11%,
Q-Cells SE (QCE GY) up 4.3 percent to 19.93 euro and Solarworld AG (SWV GY) gaining 7.3 % 16.27 euros.
Investor Ideas solar expert J. Peter Lynch noted, “German solar stocks showed some life yesterday after two of the strongest German PV companies Q-Cells and Solarworld confirmed strong outlooks for 2009. Both companies are close to giving technical buy signals, especially Solarworld, which is close to breaking through upside resistance. I consider both of these companies to be the leaders of the German PV industry group.”
Read Renewable and Solar Energy Perspectives with J. Peter Lynch http://www.renewableenergystocks.com/PL/
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Featured Showcase Renewable Energy Stocks:
XsunX Inc.: (OTCBB: XSNX)
Recent News: XsunX Announces Sales Contract to Supply 4 Megawatts of its ASI-120 Thin Film Solar Modules
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/
OriginOil, Inc: (OTCBB: OOIL)
Watch video: CEO Riggs Eckelberry discusses algae as a reliable source for biofuel production and its future under a new administration. “This is the beginning of a new industry for investors he comments.”
http://www.emergingcompany.com/volume13week3f.htm
OriginOil, Inc. is developing a breakthrough technology that will transform algae, the most promising source of renewable oil, into a true competitor to petroleum. Much of the world's oil and gas is made up of ancient algae deposits. Today, our technology will produce "new oil" from algae, through a cost-effective, high-speed manufacturing process. This endless supply of new oil can be used for many products such as diesel, gasoline, jet fuel, plastics and solvents without the global warming effects of petroleum. Other oil producing feedstock such as corn and sugarcane often destroy vital farmlands and rainforests, disrupt global food supplies and create new environmental problems. Our unique technology, based on algae, is targeted at fundamentally changing our source of oil without disrupting the environment or food supplies. http://www.investorideas.com/CO/OOIL/Default.asp and www.originoil.com.
Carbon Sciences, Inc. (OTCBB: CABN)
Recent news: Carbon Sciences Readies for Growth as Obama Inauguration Marks Dramatic Shift in U.S. Policy and Federal Support for Renewable Energy
Carbon Sciences, Inc. is developing a breakthrough technology to transform carbon dioxide (CO2) emissions into the basic fuel building blocks required to produce gasoline, diesel fuel, jet fuel and other portable fuels. Innovating at the intersection of chemical engineering and bio-engineering disciplines, we are developing a highly scalable biocatalytic process to meet the fuel needs of the world. Company Showcase Profile page: http://www.investorideas.com/co/cabn/ and http://www.carbonsciences.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 Stocks Directory:
Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Content including the complete renewable energy stocks directory. Learn more: http://www.investorideas.com/membership/
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
Compensation disclosure for XSNX, CABN, OOIL, MVTG:
http://www.investorideas.com/About/News/Clientspecifics.asp
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com
Source: RenewableEnergyStocks.com, XsunX, OriginOil, Inc, Carbon Sciences, Inc
Tuesday, January 27, 2009
Ocean Power Technologies and Lockheed Martin Announce Collaboration for Utility Wave Power Project
Ocean Power Technologies and Lockheed Martin Announce Collaboration for Utility Wave Power Project
MOORESTOWN, N.J. and PENNINGTON, N.J., - Lockheed Martin (NYSE: LMT) and Ocean Power Technologies, Inc. (OPT) (Nasdaq: OPTT) and London Stock Exchange AIM: OPT) announced they have signed a letter of intent to collaborate in the development of a utility-scale wave power generation project in North America.
Lockheed Martin and OPT intend to enter into an agreement under which OPT would provide its project and site development expertise, build the power take-off and control systems of the plant, and provide its proprietary PowerBuoy(R) technology. Lockheed Martin would provide construction, systems integration and deployment of the plant, as well as operations and maintenance services.
This is the first agreement between the two companies for a utility-scale renewable energy project and builds on their previous work together on systems for U.S. homeland security and maritime surveillance consisting of OPT's unique autonomous PowerBuoy integrated with Lockheed Martin's advanced acoustic sensors, signal processing and communications systems.
OPT's PowerBuoy wave generation system uses a "smart" buoy to capture and convert wave energy into low-cost, clean electricity. The generated power is transmitted ashore via an underwater power cable. The prospective wave power project between Lockheed Martin and OPT is expected to be off the coasts of either California or Oregon.
Dr. George W. Taylor, Chief Executive Officer of OPT, said "We are pleased to announce these plans to work with Lockheed Martin to pursue a utility-scale power station using our PowerBuoy technology. This collaboration will serve to draw on the key strengths of each company, and leverage our respective commitments to renewable energy as both the U.S. federal and state governments increase their investment in the sector. We believe that our existing and prospective customers will highly value the combined innovation and execution capability this match brings to the marketplace."
"This agreement is another step in Lockheed Martin's effort to support our national security through energy independence built around zero-emission renewable energy sources," said Howard Luebcke, Lockheed Martin director of Renewable Energy Business Development. "The depth and breadth of Lockheed Martin's systems engineering, procurement, manufacturing and process improvement capabilities, combined with OPT's innovative PowerBuoy technology and their project development experience, will promote the rapid deployment of utility-scale systems."
In November 2007, Lockheed Martin teamed with Starwood Energy Group to pursue utility solar generation projects in North America and has been pursuing multiple utility-scale opportunities. In December 2008, Lockheed Martin broke ground for construction of a solar power test bed to support these efforts, demonstrating its systems engineering and resources commitment to the renewable power generation market.
About Ocean Power Technologies
Ocean Power Technologies (Nasdaq: OPTT and London Stock Exchange AIM: OPT) is a pioneer in wave-energy technology that harnesses ocean wave resources to generate reliable, clean, and environmentally-beneficial electricity. OPT has a strong track record in harnessing wave energy and participates in a $150 billion annual power generation equipment market. The Company's proprietary PowerBuoy system is based on modular, ocean-going buoys that capture and convert predictable wave energy into low-cost, clean electricity. The Company is widely recognized as the leading provider of on-grid and autonomous wave-energy generation with its energy systems benefiting from over a decade of in-ocean experience. OPT's technology and systems are insured by Lloyds Underwriters of London. OPT is headquartered in Pennington, New Jersey with offices in Warwick, UK. More information can be found at http://www.oceanpowertechnologies.com.
About Lockheed Martin
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
For additional information about Lockheed Martin, visit: http://www.lockheedmartin.com
SOURCE Lockheed Martin
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
MOORESTOWN, N.J. and PENNINGTON, N.J., - Lockheed Martin (NYSE: LMT) and Ocean Power Technologies, Inc. (OPT) (Nasdaq: OPTT) and London Stock Exchange AIM: OPT) announced they have signed a letter of intent to collaborate in the development of a utility-scale wave power generation project in North America.
Lockheed Martin and OPT intend to enter into an agreement under which OPT would provide its project and site development expertise, build the power take-off and control systems of the plant, and provide its proprietary PowerBuoy(R) technology. Lockheed Martin would provide construction, systems integration and deployment of the plant, as well as operations and maintenance services.
This is the first agreement between the two companies for a utility-scale renewable energy project and builds on their previous work together on systems for U.S. homeland security and maritime surveillance consisting of OPT's unique autonomous PowerBuoy integrated with Lockheed Martin's advanced acoustic sensors, signal processing and communications systems.
OPT's PowerBuoy wave generation system uses a "smart" buoy to capture and convert wave energy into low-cost, clean electricity. The generated power is transmitted ashore via an underwater power cable. The prospective wave power project between Lockheed Martin and OPT is expected to be off the coasts of either California or Oregon.
Dr. George W. Taylor, Chief Executive Officer of OPT, said "We are pleased to announce these plans to work with Lockheed Martin to pursue a utility-scale power station using our PowerBuoy technology. This collaboration will serve to draw on the key strengths of each company, and leverage our respective commitments to renewable energy as both the U.S. federal and state governments increase their investment in the sector. We believe that our existing and prospective customers will highly value the combined innovation and execution capability this match brings to the marketplace."
"This agreement is another step in Lockheed Martin's effort to support our national security through energy independence built around zero-emission renewable energy sources," said Howard Luebcke, Lockheed Martin director of Renewable Energy Business Development. "The depth and breadth of Lockheed Martin's systems engineering, procurement, manufacturing and process improvement capabilities, combined with OPT's innovative PowerBuoy technology and their project development experience, will promote the rapid deployment of utility-scale systems."
In November 2007, Lockheed Martin teamed with Starwood Energy Group to pursue utility solar generation projects in North America and has been pursuing multiple utility-scale opportunities. In December 2008, Lockheed Martin broke ground for construction of a solar power test bed to support these efforts, demonstrating its systems engineering and resources commitment to the renewable power generation market.
About Ocean Power Technologies
Ocean Power Technologies (Nasdaq: OPTT and London Stock Exchange AIM: OPT) is a pioneer in wave-energy technology that harnesses ocean wave resources to generate reliable, clean, and environmentally-beneficial electricity. OPT has a strong track record in harnessing wave energy and participates in a $150 billion annual power generation equipment market. The Company's proprietary PowerBuoy system is based on modular, ocean-going buoys that capture and convert predictable wave energy into low-cost, clean electricity. The Company is widely recognized as the leading provider of on-grid and autonomous wave-energy generation with its energy systems benefiting from over a decade of in-ocean experience. OPT's technology and systems are insured by Lloyds Underwriters of London. OPT is headquartered in Pennington, New Jersey with offices in Warwick, UK. More information can be found at http://www.oceanpowertechnologies.com.
About Lockheed Martin
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
For additional information about Lockheed Martin, visit: http://www.lockheedmartin.com
SOURCE Lockheed Martin
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Monday, January 26, 2009
First Solar Applauds International Renewable Energy Initiative
First Solar Applauds International Renewable Energy Initiative
TEMPE, Ariz.--Jan 26 2009 --First Solar, Inc. (Nasdaq: FSLR) today applauded the creation of the new International Renewable Energy Agency (IRENA) as an important step in promoting investments in renewable energies worldwide.
IRENA is an international organization created to promote renewable energy options on a global scale. This ambitious initiative will offer both industrialized and developing nations advice and support when seeking renewable energy solutions.
“The creation of IRENA sends a clear signal to markets worldwide that renewable energy will be a public policy priority for many years to come and shows that policy makers are serious about fighting global warming,” said Mike Ahearn, CEO of First Solar. “We encourage the United States and all other nations that have not yet committed to join IRENA and to actively support its vision of a more sustainable environment for future generations.”
It is IRENA’s goal to become the main driving force in promoting widespread sustainability. The agency plans to aid nations in accessing relevant information and reliable data on the renewable energy industry. IRENA will also help countries improve their regulatory frameworks and build their renewable energy capacity.
“The level of international support for IRENA shows that the need to invest in alternatives to fossil fuels is as important for developing countries as it is for developed countries,” Ahearn said. “We expect IRENA to become a powerful force in identifying and promoting best practices and thereby help governments and private investors optimize their investments in renewable energies.”
The agency plans to cooperate with other organizations that are already active in the renewable energy field in order to complement their initiatives. The Founding Conference for IRENA, where the Treaty will be signed, will be held today in Bonn, Germany.
About First Solar
First Solar, Inc. (Nasdaq: FSLR) manufactures solar modules with an advanced semiconductor technology and provides comprehensive PV solutions that significantly reduce solar electricity costs. By enabling clean, renewable electricity at competitive prices, First Solar provides an economic and environmentally responsible alternative to existing peaking fossil-fuel electric generation. First Solar PV power plants operate with no water, air emissions or waste stream. First Solar set the benchmark for environmentally responsible product life cycle management by introducing the industry's first comprehensive collection and recycling program for solar modules. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com, or www.firstsolar.com/media to download photos.
For First Solar Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
First Solar, Inc.Lisa Morse, 602-414-9361lmorse@firstsolar.com
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
TEMPE, Ariz.--Jan 26 2009 --First Solar, Inc. (Nasdaq: FSLR) today applauded the creation of the new International Renewable Energy Agency (IRENA) as an important step in promoting investments in renewable energies worldwide.
IRENA is an international organization created to promote renewable energy options on a global scale. This ambitious initiative will offer both industrialized and developing nations advice and support when seeking renewable energy solutions.
“The creation of IRENA sends a clear signal to markets worldwide that renewable energy will be a public policy priority for many years to come and shows that policy makers are serious about fighting global warming,” said Mike Ahearn, CEO of First Solar. “We encourage the United States and all other nations that have not yet committed to join IRENA and to actively support its vision of a more sustainable environment for future generations.”
It is IRENA’s goal to become the main driving force in promoting widespread sustainability. The agency plans to aid nations in accessing relevant information and reliable data on the renewable energy industry. IRENA will also help countries improve their regulatory frameworks and build their renewable energy capacity.
“The level of international support for IRENA shows that the need to invest in alternatives to fossil fuels is as important for developing countries as it is for developed countries,” Ahearn said. “We expect IRENA to become a powerful force in identifying and promoting best practices and thereby help governments and private investors optimize their investments in renewable energies.”
The agency plans to cooperate with other organizations that are already active in the renewable energy field in order to complement their initiatives. The Founding Conference for IRENA, where the Treaty will be signed, will be held today in Bonn, Germany.
About First Solar
First Solar, Inc. (Nasdaq: FSLR) manufactures solar modules with an advanced semiconductor technology and provides comprehensive PV solutions that significantly reduce solar electricity costs. By enabling clean, renewable electricity at competitive prices, First Solar provides an economic and environmentally responsible alternative to existing peaking fossil-fuel electric generation. First Solar PV power plants operate with no water, air emissions or waste stream. First Solar set the benchmark for environmentally responsible product life cycle management by introducing the industry's first comprehensive collection and recycling program for solar modules. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com, or www.firstsolar.com/media to download photos.
For First Solar Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
First Solar, Inc.Lisa Morse, 602-414-9361lmorse@firstsolar.com
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Friday, January 23, 2009
Mexican President Inaugurates First Phase of EURUS Wind Farm Starts the largest wind power generation project in Latin America
Mexican President Inaugurates First Phase of EURUS Wind Farm Starts the largest wind power generation project in Latin America
Wind farm built by ACCIONA will supply 25% of CEMEX’s energy needs in Mexico, a significant step in the Company becoming more sustainable
JUCHITAN, Oaxaca, Mexico--Mexican President Felipe Calderón today celebrated the development of the EURUS wind farm project already underway, which will have 250 megawatts (MW) of power production capacity that will be consumed mainly by CEMEX. The wind farm represents an investment of US$550 million (approximately €427 million euros) by the Spanish company ACCIONA.
EURUS wind farm is a self-generation project to supply 25% of CEMEX Mexico’s needs. It has been developed jointly between CEMEX and ACCIONA Energia and will have 167 wind turbines with 1.5MW of capacity each, built by ACCIONA Windpower. It is located in Juchitan, in the Southern Mexican State of Oaxaca in a 2,500 hectare area in the Tehuantepec Isthmus, an area well-known for its wind resources.
The energy that will be produced by EURUS is estimated to be sufficient to power a Mexican city of half a million inhabitants, reducing CO2 emissions by approximately 600 thousand metric tons each year, which is approximately 25% of the total emissions generated by such a community.
EURUS will be one of the largest wind farms in the world and the second largest in terms of emissions reduction registered under the Clean Development Mechanism of the United Nations (Kyoto Protocol). It will also have one of the largest emission reduction indexes per installed capacity in the world.
The project has created more than 850 jobs in the region during the construction phase and will have a local economic impact equivalent to 20 million Mexican pesos per year.
The first phase will be operational in the first quarter of 2009 and the last phase will be operational in the last quarter of 2009. Currently 25 turbines are installed.
The wind farm represents a major contribution towards the global effort that CEMEX is making to reduce its impacts and to become more sustainable.
Lorenzo H. Zambrano, Chairman and CEO of CEMEX said, “At CEMEX we are committed to innovation and to becoming more sustainable by the use of alternative fuels, and the application of more efficient processes to save energy, to reduce carbon dioxide emissions, and to contribute to a clean environment. We are determined to include renewable sources of electricity into our energy mix, and therefore today we feel very proud of our alliance with ACCIONA, so that the EURUS wind farm can begin to transform the power of the wind into electric power".
Esteban Morras, board member of ACCIONA, said, “EURUS is the largest wind farm installed by our company in the world and represents a huge impulse to the development of wind power in Mexico. This country has great potential for wind development and should take advantage of this in the necessary transition toward a more sustainable energy model, creating with it wealth and employment in a sector of the future". He also expressed his satisfaction by the collaboration with CEMEX in this project. "CEMEX is a great company and we are delighted to work with it on this important initiative".
CEMEX is a growing global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future. For more information, visit www.cemex.com.
ACCIONA Energia is a world leader in renewable energy systems. It has installed 6,000 MW of power in 208 wind farms in 14 countries, and produces wind turbines using proprietary technology. It also has thermosolar, photovoltaic hydroelectric and biomass facilities and produces biodiesel and bioethanol. It´s a subsidiary of ACCIONA, a multinational conglomerate focused on sustainability, with a presence in the sectors of infrastructure, services and renewable energy.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.
Contacts CEMEXMedia RelationsJorge Pérez, (52-81) 8888-4334or Investor RelationsEduardo Rendón, (52-81) 8888-4256or Analyst RelationsLuis Garza, (52-81) 8888-4136orMedia RelationsACCIONA EnergÃaJosé Arrieta, (34) 948-00-60-30
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Wind farm built by ACCIONA will supply 25% of CEMEX’s energy needs in Mexico, a significant step in the Company becoming more sustainable
JUCHITAN, Oaxaca, Mexico--Mexican President Felipe Calderón today celebrated the development of the EURUS wind farm project already underway, which will have 250 megawatts (MW) of power production capacity that will be consumed mainly by CEMEX. The wind farm represents an investment of US$550 million (approximately €427 million euros) by the Spanish company ACCIONA.
EURUS wind farm is a self-generation project to supply 25% of CEMEX Mexico’s needs. It has been developed jointly between CEMEX and ACCIONA Energia and will have 167 wind turbines with 1.5MW of capacity each, built by ACCIONA Windpower. It is located in Juchitan, in the Southern Mexican State of Oaxaca in a 2,500 hectare area in the Tehuantepec Isthmus, an area well-known for its wind resources.
The energy that will be produced by EURUS is estimated to be sufficient to power a Mexican city of half a million inhabitants, reducing CO2 emissions by approximately 600 thousand metric tons each year, which is approximately 25% of the total emissions generated by such a community.
EURUS will be one of the largest wind farms in the world and the second largest in terms of emissions reduction registered under the Clean Development Mechanism of the United Nations (Kyoto Protocol). It will also have one of the largest emission reduction indexes per installed capacity in the world.
The project has created more than 850 jobs in the region during the construction phase and will have a local economic impact equivalent to 20 million Mexican pesos per year.
The first phase will be operational in the first quarter of 2009 and the last phase will be operational in the last quarter of 2009. Currently 25 turbines are installed.
The wind farm represents a major contribution towards the global effort that CEMEX is making to reduce its impacts and to become more sustainable.
Lorenzo H. Zambrano, Chairman and CEO of CEMEX said, “At CEMEX we are committed to innovation and to becoming more sustainable by the use of alternative fuels, and the application of more efficient processes to save energy, to reduce carbon dioxide emissions, and to contribute to a clean environment. We are determined to include renewable sources of electricity into our energy mix, and therefore today we feel very proud of our alliance with ACCIONA, so that the EURUS wind farm can begin to transform the power of the wind into electric power".
Esteban Morras, board member of ACCIONA, said, “EURUS is the largest wind farm installed by our company in the world and represents a huge impulse to the development of wind power in Mexico. This country has great potential for wind development and should take advantage of this in the necessary transition toward a more sustainable energy model, creating with it wealth and employment in a sector of the future". He also expressed his satisfaction by the collaboration with CEMEX in this project. "CEMEX is a great company and we are delighted to work with it on this important initiative".
CEMEX is a growing global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future. For more information, visit www.cemex.com.
ACCIONA Energia is a world leader in renewable energy systems. It has installed 6,000 MW of power in 208 wind farms in 14 countries, and produces wind turbines using proprietary technology. It also has thermosolar, photovoltaic hydroelectric and biomass facilities and produces biodiesel and bioethanol. It´s a subsidiary of ACCIONA, a multinational conglomerate focused on sustainability, with a presence in the sectors of infrastructure, services and renewable energy.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.
Contacts CEMEXMedia RelationsJorge Pérez, (52-81) 8888-4334or Investor RelationsEduardo Rendón, (52-81) 8888-4256or Analyst RelationsLuis Garza, (52-81) 8888-4136orMedia RelationsACCIONA EnergÃaJosé Arrieta, (34) 948-00-60-30
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Thursday, January 22, 2009
Renegy Closes Tax Equity Financing Transaction and Announces Plans to Delist From NASDAQ and Cease SEC Reporting
Renegy Closes Tax Equity Financing Transaction and Announces Plans to Delist From NASDAQ and Cease SEC Reporting
TEMPE, Ariz., Jan. 21, 2009 -- Renegy Holdings, Inc. (Renegy) (NasdaqCM:RNGY ), a renewable energy company engaged in biomass power generation utilizing wood waste as a primary fuel source, today announced that it has secured $12.3 million of tax equity financing from an institutional equity investor in exchange for a partial interest in its 24 megawatt Snowflake biomass power generation facility.
The tax equity investment, which was announced earlier this month, will provide the investor with access to the federal production tax credits, depreciation benefits and certain cash flows that will be generated by Renegy's Snowflake plant over the next 10 years. Renegy also announced plans to deregister its common stock under the Securities Exchange Act of 1934, as amended (the ``Exchange Act''), and delist from the Nasdaq Capital Market (``NASDAQ''). Execution of this plan would terminate Renegy's reporting obligations with the Securities and Exchange Commission (the ``SEC'') and eliminate the significant costs of being a listed public reporting company.
To execute the proposed ``going dark'' transaction (the ``Transaction''), the Company intends to amend its certificate of incorporation to effect a reverse stock split of its shares of common stock with the objective of reducing the number of stockholders of record to fewer than 300. All stockholders with less than one share of Renegy common stock after the reverse split will receive cash in exchange for each share of common stock held prior to the reverse split and will no longer be stockholders of Renegy following completion of the Transaction. The ratio to be used in the reverse stock split and the cash-out price per pre-split share are expected to be finalized by the Company within the next 30 days. The cash-out price will be determined by Renegy's Board of Directors, and will be based upon the average closing bid price for the Company's common stock over a specified period of time as reported by NASDAQ.
Immediately following the reverse stock split, the Company will file a second amendment to its certificate of incorporation to effect a forward stock split using a forward split ratio that is the inverse of the reverse split ratio. As a result, stockholders owning one or more shares of Renegy common stock at the time of the reverse split will retain their current numbers of shares of common stock without change and will continue as stockholders of the Company.
After the Transaction is completed and the Company has fewer than 300 stockholders of record, the Company intends to terminate the registration of its common stock under the Exchange Act and become a non-SEC reporting company. If that occurs, the Company will no longer file periodic reports with the SEC, including annual reports on Form 10-K and quarterly reports on Form 10-Q. Following completion of the Transaction, it is expected that trading of Renegy's common stock by continuing stockholders may be effected through privately negotiated transactions or, if the Company qualifies, in the Pink Sheets(r) (a centralized quotation service that collects and publishes market maker quotes for securities).
``The proposed plan to deregister and delist our common stock is one of the many cost cutting initiatives we are undertaking as part of our restructuring activities announced earlier this month,'' stated Bob Worsley, chairman and CEO of Renegy. ``Completion of this transaction is expected to result in a direct cost savings of between $1.5 million and $2.5 million annually from the elimination of SEC reporting requirements and other public company-related expenses. Also, this plan will allow us to avoid the substantial additional costs associated with the impending compliance and auditing requirements of the Sarbanes-Oxley Act of 2002, Section 404.''
Renegy's board of directors authorized the deregistration and delisting of the Company's common stock after concluding that the disadvantages of remaining an SEC-reporting company, including the significant costs associated with regulatory compliance, outweighed the current benefits of public company status to the Company and its stockholders. Among the factors considered were:
* The cost savings the Company expects to realize as a result of the elimination of SEC reporting requirements and other public company- related expenses; * The fact that Renegy has not realized many of the benefits associated with being a publicly-traded, NASDAQ-listed company, such as enhanced shareholder value, stock liquidity, and the ability to access the capital markets to secure financing or to use its common stock as currency for acquisitions, due to the limited liquidity and low market price of its common stock; * The ability of the Company's smallest stockholders (those who will hold only fractional shares following the reverse stock split) to liquidate their holdings in shares of Renegy common stock and receive a premium over market prices prevailing at the time of the approval of the Transaction without incurring brokerage commissions; and * The Company's ability to gain greater operational flexibility by allowing management to focus its time, effort and resources on long- term financial stability and growth without an undue emphasis on short-term fluctuations in the market price of its common stock.
Renegy expects to use some of the proceeds from the tax equity investment and borrowings from its lender to finance the costs associated with the Transaction. The Company intends to submit two proposed reverse split ratios to the Company's stockholders for approval to provide flexibility in the event the number or composition of the Company's stockholders changes significantly during the period between the approval of the Transaction by the Board and the date that the Transaction will be completed. Renegy's board of directors will reserve the right to choose, from between the two ratios, that ratio which will best accomplish the goal of reducing the number of record holders to a sufficiently low number such that it is unlikely that the Company will subsequently become subject to the Exchange Act by having more than 300 stockholders of record in the future. The board will also retain the discretion to abandon the proposed Transaction at any time prior to its completion if it believes that the Transaction is no longer in the best interests of the Company or its stockholders.
The proposed Transaction is subject to approval by Renegy's stockholders. Stockholders will be asked to approve the Transaction at a special meeting of stockholders, which the Company currently expects to hold in March. Renegy's Chairman and CEO Bob Worsley, who controls approximately 56.9% of the outstanding shares of Renegy common stock, has expressed his support for the deregistration of Renegy's common stock and has indicated that he intends to vote in favor of the Transaction. Therefore, if Mr. Worsley votes his shares as he has indicated, approval of the Transaction is assured.
Despite the significant cost savings Renegy anticipates achieving as a result of completing the Transaction and executing its restructuring activities announced earlier this month, Renegy's management remains keenly focused on seeking additional financing to further strengthen its financial position, as well as exploring other strategic alternatives for the business, such as a potential sale of the Company.
Important Information About Solicitation
The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from stockholders in connection with the proposed Transaction under the rules of the SEC. Such participants may have interests in the solicitation, including as a result of holding shares of the Company's common stock. Information about the directors and executive officers of the Company will be contained in the definitive proxy statement to be filed by the Company.
THIS RELEASE IS NOT A REQUEST FOR A PROXY OR AN OFFER TO ACQUIRE OR SELL ANY SECURITIES. THE PROPOSED TRANSACTION WILL BE SUBMITTED TO STOCKHOLDERS OF THE COMPANY FOR THEIR CONSIDERATION. THE COMPANY WILL FILE A PRELIMINARY PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS CONCERNING THE PROPOSED TRANSACTION WITH THE SEC AND WILL FILE A DEFINITIVE PROXY STATEMENT AND RELATED DOCUMENTS UPON COMPLETION OF SEC REVIEW. THE PROXY STATEMENT WILL BE SENT TO ALL STOCKHOLDERS ENTITLED TO VOTE ON THE TRANSACTION. YOU ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. YOU WILL BE ABLE TO OBTAIN A FREE COPY OF THE PROXY STATEMENT, AS WELL AS OTHER FILINGS CONTAINING INFORMATION ABOUT THE COMPANY, AT THE SEC'S INTERNET SITE (http://www.sec.gov). COPIES OF THE PROXY STATEMENT CAN BE OBTAINED, WHEN AVAILABLE AND WITHOUT CHARGE, BY DIRECTING A REQUEST TO RENEGY HOLDINGS, INC., 3418 N. VAL VISTA DRIVE, MESA, ARIZONA 85213.
About Renegy
Renegy, based in Tempe, Arizona, is a renewable energy company engaged in biomass power generation utilizing wood waste as a primary fuel source. Renegy's current biomass power generating assets include a 24 MW facility near Snowflake, Arizona that commenced commercial operations in June 2008, and an idle 13 MW biomass plant in Susanville, California. Renegy's other business activities include an established fuel aggregation and wood products division, which collects and transports forest thinnings and woody waste biomass fuel to its power plants, and which sells logs, lumber, shaved wood products and other high value wood by-products to provide additional value to its primary business operations. Find Renegy on the Worldwide Web at http://www.renegy.com.
The Renegy Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4856
This news release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Exchange Act, and is subject to the safe harbors created therein. These statements include, but are not limited to, the Company's intentions to deregister its common stock and delist from the Nasdaq Capital Market and the prospects and timing associated with completing such a transaction; the timing associated with finalizing the reverse split ratio and cash-out price to stockholders holding less than one share of Renegy following the reverse split; the potential for the Company's stock to trade on the Pink Sheets following completion of the transaction; the estimated cost savings Renegy expects to achieve from eliminating its SEC reporting requirements and other public company-related expenses; the Company's ability to achieve long-term financial stability and growth; and the expectation that the Transaction will receive the required stockholder approval; and the prospects associated with consummating a sale of the Company. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, among others, the risk of unanticipated events that could impact Renegy's ability to successfully complete the Transaction, including, but not limited to, the risk that Renegy may not have, or be able to secure, the funds necessary to complete the Transaction; the risk of delays associated with completing the Transaction; the ability of the Company to achieve and maintain long-term financial stability; the risk that the Company's cost reduction goals may impair its ability to operate its business effectively, which could negatively impact the operations of its Snowflake biomass plant; the risk that execution of Renegy's restructuring plans will not provide sufficient cost savings for the Company to maintain its viability; the risk that Renegy will be unable to secure additional financing or achieve additional cost reductions necessary to continue as a going concern; that there may be unanticipated technical, commercial or other setbacks related to the operation of the Company's Snowflake plant, which could reduce the anticipated revenues and cash flows generated by the plant and negatively impact the Company's financial position overall; changes in environmental requirements relating to certain emissions; diversion of management's attention away from other business concerns; the risks associated with the development, generally, of the Company's overall strategic objectives; and the other risks set forth in the Company's most recent Form 10-KSB and subsequent Forms 10-Q filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances occurring after the date of this release.
Contact: Renegy Holdings, Inc. Investor Relations Megan Meloni (650) 799-7307
Source: Renegy Holdings, Inc.
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TEMPE, Ariz., Jan. 21, 2009 -- Renegy Holdings, Inc. (Renegy) (NasdaqCM:RNGY ), a renewable energy company engaged in biomass power generation utilizing wood waste as a primary fuel source, today announced that it has secured $12.3 million of tax equity financing from an institutional equity investor in exchange for a partial interest in its 24 megawatt Snowflake biomass power generation facility.
The tax equity investment, which was announced earlier this month, will provide the investor with access to the federal production tax credits, depreciation benefits and certain cash flows that will be generated by Renegy's Snowflake plant over the next 10 years. Renegy also announced plans to deregister its common stock under the Securities Exchange Act of 1934, as amended (the ``Exchange Act''), and delist from the Nasdaq Capital Market (``NASDAQ''). Execution of this plan would terminate Renegy's reporting obligations with the Securities and Exchange Commission (the ``SEC'') and eliminate the significant costs of being a listed public reporting company.
To execute the proposed ``going dark'' transaction (the ``Transaction''), the Company intends to amend its certificate of incorporation to effect a reverse stock split of its shares of common stock with the objective of reducing the number of stockholders of record to fewer than 300. All stockholders with less than one share of Renegy common stock after the reverse split will receive cash in exchange for each share of common stock held prior to the reverse split and will no longer be stockholders of Renegy following completion of the Transaction. The ratio to be used in the reverse stock split and the cash-out price per pre-split share are expected to be finalized by the Company within the next 30 days. The cash-out price will be determined by Renegy's Board of Directors, and will be based upon the average closing bid price for the Company's common stock over a specified period of time as reported by NASDAQ.
Immediately following the reverse stock split, the Company will file a second amendment to its certificate of incorporation to effect a forward stock split using a forward split ratio that is the inverse of the reverse split ratio. As a result, stockholders owning one or more shares of Renegy common stock at the time of the reverse split will retain their current numbers of shares of common stock without change and will continue as stockholders of the Company.
After the Transaction is completed and the Company has fewer than 300 stockholders of record, the Company intends to terminate the registration of its common stock under the Exchange Act and become a non-SEC reporting company. If that occurs, the Company will no longer file periodic reports with the SEC, including annual reports on Form 10-K and quarterly reports on Form 10-Q. Following completion of the Transaction, it is expected that trading of Renegy's common stock by continuing stockholders may be effected through privately negotiated transactions or, if the Company qualifies, in the Pink Sheets(r) (a centralized quotation service that collects and publishes market maker quotes for securities).
``The proposed plan to deregister and delist our common stock is one of the many cost cutting initiatives we are undertaking as part of our restructuring activities announced earlier this month,'' stated Bob Worsley, chairman and CEO of Renegy. ``Completion of this transaction is expected to result in a direct cost savings of between $1.5 million and $2.5 million annually from the elimination of SEC reporting requirements and other public company-related expenses. Also, this plan will allow us to avoid the substantial additional costs associated with the impending compliance and auditing requirements of the Sarbanes-Oxley Act of 2002, Section 404.''
Renegy's board of directors authorized the deregistration and delisting of the Company's common stock after concluding that the disadvantages of remaining an SEC-reporting company, including the significant costs associated with regulatory compliance, outweighed the current benefits of public company status to the Company and its stockholders. Among the factors considered were:
* The cost savings the Company expects to realize as a result of the elimination of SEC reporting requirements and other public company- related expenses; * The fact that Renegy has not realized many of the benefits associated with being a publicly-traded, NASDAQ-listed company, such as enhanced shareholder value, stock liquidity, and the ability to access the capital markets to secure financing or to use its common stock as currency for acquisitions, due to the limited liquidity and low market price of its common stock; * The ability of the Company's smallest stockholders (those who will hold only fractional shares following the reverse stock split) to liquidate their holdings in shares of Renegy common stock and receive a premium over market prices prevailing at the time of the approval of the Transaction without incurring brokerage commissions; and * The Company's ability to gain greater operational flexibility by allowing management to focus its time, effort and resources on long- term financial stability and growth without an undue emphasis on short-term fluctuations in the market price of its common stock.
Renegy expects to use some of the proceeds from the tax equity investment and borrowings from its lender to finance the costs associated with the Transaction. The Company intends to submit two proposed reverse split ratios to the Company's stockholders for approval to provide flexibility in the event the number or composition of the Company's stockholders changes significantly during the period between the approval of the Transaction by the Board and the date that the Transaction will be completed. Renegy's board of directors will reserve the right to choose, from between the two ratios, that ratio which will best accomplish the goal of reducing the number of record holders to a sufficiently low number such that it is unlikely that the Company will subsequently become subject to the Exchange Act by having more than 300 stockholders of record in the future. The board will also retain the discretion to abandon the proposed Transaction at any time prior to its completion if it believes that the Transaction is no longer in the best interests of the Company or its stockholders.
The proposed Transaction is subject to approval by Renegy's stockholders. Stockholders will be asked to approve the Transaction at a special meeting of stockholders, which the Company currently expects to hold in March. Renegy's Chairman and CEO Bob Worsley, who controls approximately 56.9% of the outstanding shares of Renegy common stock, has expressed his support for the deregistration of Renegy's common stock and has indicated that he intends to vote in favor of the Transaction. Therefore, if Mr. Worsley votes his shares as he has indicated, approval of the Transaction is assured.
Despite the significant cost savings Renegy anticipates achieving as a result of completing the Transaction and executing its restructuring activities announced earlier this month, Renegy's management remains keenly focused on seeking additional financing to further strengthen its financial position, as well as exploring other strategic alternatives for the business, such as a potential sale of the Company.
Important Information About Solicitation
The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from stockholders in connection with the proposed Transaction under the rules of the SEC. Such participants may have interests in the solicitation, including as a result of holding shares of the Company's common stock. Information about the directors and executive officers of the Company will be contained in the definitive proxy statement to be filed by the Company.
THIS RELEASE IS NOT A REQUEST FOR A PROXY OR AN OFFER TO ACQUIRE OR SELL ANY SECURITIES. THE PROPOSED TRANSACTION WILL BE SUBMITTED TO STOCKHOLDERS OF THE COMPANY FOR THEIR CONSIDERATION. THE COMPANY WILL FILE A PRELIMINARY PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS CONCERNING THE PROPOSED TRANSACTION WITH THE SEC AND WILL FILE A DEFINITIVE PROXY STATEMENT AND RELATED DOCUMENTS UPON COMPLETION OF SEC REVIEW. THE PROXY STATEMENT WILL BE SENT TO ALL STOCKHOLDERS ENTITLED TO VOTE ON THE TRANSACTION. YOU ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. YOU WILL BE ABLE TO OBTAIN A FREE COPY OF THE PROXY STATEMENT, AS WELL AS OTHER FILINGS CONTAINING INFORMATION ABOUT THE COMPANY, AT THE SEC'S INTERNET SITE (http://www.sec.gov). COPIES OF THE PROXY STATEMENT CAN BE OBTAINED, WHEN AVAILABLE AND WITHOUT CHARGE, BY DIRECTING A REQUEST TO RENEGY HOLDINGS, INC., 3418 N. VAL VISTA DRIVE, MESA, ARIZONA 85213.
About Renegy
Renegy, based in Tempe, Arizona, is a renewable energy company engaged in biomass power generation utilizing wood waste as a primary fuel source. Renegy's current biomass power generating assets include a 24 MW facility near Snowflake, Arizona that commenced commercial operations in June 2008, and an idle 13 MW biomass plant in Susanville, California. Renegy's other business activities include an established fuel aggregation and wood products division, which collects and transports forest thinnings and woody waste biomass fuel to its power plants, and which sells logs, lumber, shaved wood products and other high value wood by-products to provide additional value to its primary business operations. Find Renegy on the Worldwide Web at http://www.renegy.com.
The Renegy Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4856
This news release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Exchange Act, and is subject to the safe harbors created therein. These statements include, but are not limited to, the Company's intentions to deregister its common stock and delist from the Nasdaq Capital Market and the prospects and timing associated with completing such a transaction; the timing associated with finalizing the reverse split ratio and cash-out price to stockholders holding less than one share of Renegy following the reverse split; the potential for the Company's stock to trade on the Pink Sheets following completion of the transaction; the estimated cost savings Renegy expects to achieve from eliminating its SEC reporting requirements and other public company-related expenses; the Company's ability to achieve long-term financial stability and growth; and the expectation that the Transaction will receive the required stockholder approval; and the prospects associated with consummating a sale of the Company. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, among others, the risk of unanticipated events that could impact Renegy's ability to successfully complete the Transaction, including, but not limited to, the risk that Renegy may not have, or be able to secure, the funds necessary to complete the Transaction; the risk of delays associated with completing the Transaction; the ability of the Company to achieve and maintain long-term financial stability; the risk that the Company's cost reduction goals may impair its ability to operate its business effectively, which could negatively impact the operations of its Snowflake biomass plant; the risk that execution of Renegy's restructuring plans will not provide sufficient cost savings for the Company to maintain its viability; the risk that Renegy will be unable to secure additional financing or achieve additional cost reductions necessary to continue as a going concern; that there may be unanticipated technical, commercial or other setbacks related to the operation of the Company's Snowflake plant, which could reduce the anticipated revenues and cash flows generated by the plant and negatively impact the Company's financial position overall; changes in environmental requirements relating to certain emissions; diversion of management's attention away from other business concerns; the risks associated with the development, generally, of the Company's overall strategic objectives; and the other risks set forth in the Company's most recent Form 10-KSB and subsequent Forms 10-Q filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances occurring after the date of this release.
Contact: Renegy Holdings, Inc. Investor Relations Megan Meloni (650) 799-7307
Source: Renegy Holdings, Inc.
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Wednesday, January 21, 2009
ZAYED FUTURE ENERGY PRIZE RECOGNIZES DIPAL C. BARUA.
ZAYED FUTURE ENERGY PRIZE RECOGNIZES DIPAL C. BARUA.
Inaugural prize awarded to Barua for bringing renewable energy to rural communities
Abu Dhabi, January 20, 2009 – The first annual Zayed Future Energy Prize was awarded on January 19 by His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to Mr. Dipal Chandra Barua, Founding Managing Director of Grameen Shakti for his visionary efforts to bring renewable energy solutions to the rural population of Bangladesh.
The Zayed Future Energy Prize finalist, Dr. Martin Green, was also recognized at the award ceremony for his groundbreaking research in photovoltaic (PV) technology that will result in increased efficiencies, bringing solar energy closer to grid parity.
The Prize was launched in January 2008 at the inaugural World Future Energy Summit to honour the legacy of environmental stewardship of the UAE’s late ruler and founding father, His Highness Sheikh Zayed bin Sultan Al Nahyan.
The award winner, Mr. Barua, and the finalist, Dr. Green will receive US$1.5 million and US$350,000, respectively, to accelerate the development of their innovations.
Mr. Barua’s organization, Grameen Shakti (GS), has installed more than 200,000 solar PV systems that currently provide power for more than two million rural people. Under Mr. Barua’s leadership, GS has developed a number of other innovative initiatives, including a biogas technology that converts cow and poultry waste into gas for cooking, lighting and fertilizer. GS has installed more than 6,000 biogas plants and plans to construct 500,000 more by 2012. In addition, GS has trained rural women to be solar technicians hereby enabling green entrepreneurs through a highly successful micro-credit program.
“It is a great honour to receive this recognition inspired by the vision of HH the late Sheikh Zayed,” said Mr. Barua. “I consider myself a global Ambassador of the Prize, and would like to carry forward the message of environmental sensitivity that is being championed by the leadership of Abu Dhabi.”
“We share this award with the rural people of Bangladesh who have demonstrated incredible ambition and innovation in adopting clean, renewable technologies to solve their daily energy challenges in the rural areas,” added Mr. Barua.
The finalist, Dr. Green is a leading researcher in the field of PV. He is currently developing “third-generation” solar cells that will help decrease costs to less than US$0.50/W, to potentially $0.20/W or better, which will drastically increase the economic viability of this technology.
“I firmly believe that many of our future energy needs can be addressed by photovoltaic technology,” said Dr. Green. “I’m proud that as one of the first recipients of this award, PV technology and its importance in the renewable energy mix is also being recognized as a commercially viable solution.”
“I am confident that the Prize will help boost our efforts to accelerate the development, and market entry of third-generation PV modules,” he added.
“It is quite inspirational to be a part of Zayed Future Energy Prize,” said Nobel Laureate Dr. RK Pachauri, Chairman of the Intergovernmental Panel on Climate Change and Chairman of the jury for ZFEP. “The technologies and the innovative solutions that we’ve seen through the submission process are a good reminder of the ability of human innovation to solve our global challenges.”
Masdar, Abu Dhabi’s multi-faceted future energy initiative, is the prize’s founding organization. As one of its chief objectives, Masdar aims to be an open platform to bring together the world’s innovative solutions to energy challenges. “These winners and their innovations embody the very qualities the Zayed Future Energy Prize aims to recognize – pioneering, ambitious ideas that provide us with a more sustainable future,” Dr. Sultan Al Jaber, Director General of the Prize and Chief Executive of Masdar. “This prize encourages us to be bold, to innovate, to strive and to act. A quality that we inherited from our father, the late HH Sheikh Zayed who taught us to make a meaningful and sustainable impact on the world we live in,” added Al Jaber in the ceremony’s opening.
Submissions were received from more than 50 countries from every region of the world, including the United Kingdom, United States, Australia, China, Bangladesh, Germany, Brazil, Russia, Canada and Spain. The pool of 204 total submissions was reduced to twenty by a selection committee of senior technical, commercial and energy policy experts.
The jury members – Ólafur Ragnar GrÃmsson, President of the Republic of Iceland; Khaled Irani, Minister of Environment of The Hashemite Kingdom of Jordan; H.E. Ahmed Ali Sayegh, Chairman of Masdar; Lord Browne,Managing Director of Riverstone Holdings; Lord Norman Foster, Chairman of Foster+Partners; and Jeremy Rifkin, President of the Foundation on New Economic Trends – selected the final two winners.
About Masdar
The Masdar Initiative is Abu Dhabi’s multi-faceted future energy initiative advancing the development, commercialization and deployment of renewable and alternative energy technologies and solutions. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), and is wholly owned by the Mubadala Development Company. For more information about the Masdar Initiative, please visit http://www.masdaruae.com.
About Zayed Future Energy Prize
The Zayed Future Energy Prize was created in honour of the legacy of the late Ruler of Abu Dhabi and Founding Father of the United Arab Emirates, HH Sheikh Zayed bin Sultan Al Nahyan. The prize aims to inspire the next generation of global energy innovators – creating solutions for the future. The Prize is awarded annually to up to three individuals, companies, organisations and/or NGOs that have made significant contributions in the global response to the future of energy, climate change and sustainable global energy resources.
High-resolution images of Masdar City and the 2009 World Future Energy Summit are available at http://www.flickr.com/photos/masdar/.
Press Contacts: Masdar: Serene SerhanPublic Relations ManagerTel +971 50 854 43269sserhan@masdar.ae
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Inaugural prize awarded to Barua for bringing renewable energy to rural communities
Abu Dhabi, January 20, 2009 – The first annual Zayed Future Energy Prize was awarded on January 19 by His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to Mr. Dipal Chandra Barua, Founding Managing Director of Grameen Shakti for his visionary efforts to bring renewable energy solutions to the rural population of Bangladesh.
The Zayed Future Energy Prize finalist, Dr. Martin Green, was also recognized at the award ceremony for his groundbreaking research in photovoltaic (PV) technology that will result in increased efficiencies, bringing solar energy closer to grid parity.
The Prize was launched in January 2008 at the inaugural World Future Energy Summit to honour the legacy of environmental stewardship of the UAE’s late ruler and founding father, His Highness Sheikh Zayed bin Sultan Al Nahyan.
The award winner, Mr. Barua, and the finalist, Dr. Green will receive US$1.5 million and US$350,000, respectively, to accelerate the development of their innovations.
Mr. Barua’s organization, Grameen Shakti (GS), has installed more than 200,000 solar PV systems that currently provide power for more than two million rural people. Under Mr. Barua’s leadership, GS has developed a number of other innovative initiatives, including a biogas technology that converts cow and poultry waste into gas for cooking, lighting and fertilizer. GS has installed more than 6,000 biogas plants and plans to construct 500,000 more by 2012. In addition, GS has trained rural women to be solar technicians hereby enabling green entrepreneurs through a highly successful micro-credit program.
“It is a great honour to receive this recognition inspired by the vision of HH the late Sheikh Zayed,” said Mr. Barua. “I consider myself a global Ambassador of the Prize, and would like to carry forward the message of environmental sensitivity that is being championed by the leadership of Abu Dhabi.”
“We share this award with the rural people of Bangladesh who have demonstrated incredible ambition and innovation in adopting clean, renewable technologies to solve their daily energy challenges in the rural areas,” added Mr. Barua.
The finalist, Dr. Green is a leading researcher in the field of PV. He is currently developing “third-generation” solar cells that will help decrease costs to less than US$0.50/W, to potentially $0.20/W or better, which will drastically increase the economic viability of this technology.
“I firmly believe that many of our future energy needs can be addressed by photovoltaic technology,” said Dr. Green. “I’m proud that as one of the first recipients of this award, PV technology and its importance in the renewable energy mix is also being recognized as a commercially viable solution.”
“I am confident that the Prize will help boost our efforts to accelerate the development, and market entry of third-generation PV modules,” he added.
“It is quite inspirational to be a part of Zayed Future Energy Prize,” said Nobel Laureate Dr. RK Pachauri, Chairman of the Intergovernmental Panel on Climate Change and Chairman of the jury for ZFEP. “The technologies and the innovative solutions that we’ve seen through the submission process are a good reminder of the ability of human innovation to solve our global challenges.”
Masdar, Abu Dhabi’s multi-faceted future energy initiative, is the prize’s founding organization. As one of its chief objectives, Masdar aims to be an open platform to bring together the world’s innovative solutions to energy challenges. “These winners and their innovations embody the very qualities the Zayed Future Energy Prize aims to recognize – pioneering, ambitious ideas that provide us with a more sustainable future,” Dr. Sultan Al Jaber, Director General of the Prize and Chief Executive of Masdar. “This prize encourages us to be bold, to innovate, to strive and to act. A quality that we inherited from our father, the late HH Sheikh Zayed who taught us to make a meaningful and sustainable impact on the world we live in,” added Al Jaber in the ceremony’s opening.
Submissions were received from more than 50 countries from every region of the world, including the United Kingdom, United States, Australia, China, Bangladesh, Germany, Brazil, Russia, Canada and Spain. The pool of 204 total submissions was reduced to twenty by a selection committee of senior technical, commercial and energy policy experts.
The jury members – Ólafur Ragnar GrÃmsson, President of the Republic of Iceland; Khaled Irani, Minister of Environment of The Hashemite Kingdom of Jordan; H.E. Ahmed Ali Sayegh, Chairman of Masdar; Lord Browne,Managing Director of Riverstone Holdings; Lord Norman Foster, Chairman of Foster+Partners; and Jeremy Rifkin, President of the Foundation on New Economic Trends – selected the final two winners.
About Masdar
The Masdar Initiative is Abu Dhabi’s multi-faceted future energy initiative advancing the development, commercialization and deployment of renewable and alternative energy technologies and solutions. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), and is wholly owned by the Mubadala Development Company. For more information about the Masdar Initiative, please visit http://www.masdaruae.com.
About Zayed Future Energy Prize
The Zayed Future Energy Prize was created in honour of the legacy of the late Ruler of Abu Dhabi and Founding Father of the United Arab Emirates, HH Sheikh Zayed bin Sultan Al Nahyan. The prize aims to inspire the next generation of global energy innovators – creating solutions for the future. The Prize is awarded annually to up to three individuals, companies, organisations and/or NGOs that have made significant contributions in the global response to the future of energy, climate change and sustainable global energy resources.
High-resolution images of Masdar City and the 2009 World Future Energy Summit are available at http://www.flickr.com/photos/masdar/.
Press Contacts: Masdar: Serene SerhanPublic Relations ManagerTel +971 50 854 43269sserhan@masdar.ae
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Ontario Paves the Way for Electric Cars
Ontario Paves the Way for Electric Cars
TORONTO----Ontario is joining forces with a world-leading company that creates innovative infrastructure for electric cars — a necessary step in getting electric cars running on Ontario’s roads and highways.
California-based Better Place will establish a Canadian head-office in Ontario. They will build an electric car demonstration and education centre in Toronto to lay the groundwork to help get electric vehicles running on Ontario roads. By May 2009, the Ontario government will release a study which will look at ways to speed up the introduction of electric vehicles including:
Financial incentives designed to encourage the purchase of electric vehicles Preferred access to transportation grid to encourage the adoption of electric vehicles Forward looking procurement policies to speed government adoption of electric vehicles into fleet services where appropriate Coordinated public education and promotion of electric vehicles as a mode of personal transportation. At the same time, Better Place will develop an electric car charging network rollout plan and timelines.
"I want to thank Better Place for their vision, and welcome them to Ontario. We have a workforce second to none and matched with this innovative business, we could provide a real opportunity for jobs and economic growth in the future," said Premier Dalton McGuinty.
"Today’s announcement shows how Ontario is using its portfolio of strategic investment tools to attract global visionaries to our province. It’s about keeping Ontario ahead of the curve in a knowledge and technology-based economy," said Sandra Pupatello, Minister of International Trade and Investment.
"With its forward-looking leadership, Ontario is taking a major step toward sustainable transportation and setting a visible example for the world. As a major auto producer with significant manufacturing expertise and facilities, Ontario stands to benefit from the inevitable and accelerating shift to electric cars. Transition to the Car 2.0 model of electric vehicles powered by renewable energy presents an historic opportunity for Ontario and Canada to help lead the world in economic growth and environmental recovery for the next century," said Shai Agassi, Better Place Founder and CEO.
For every 10,000 electric vehicles on the road, Better Place estimates that Ontario will offset more than 40,000 tons of carbon dioxide annually.
Under the Better Place model, electric car drivers enroll in a subscription plan to use the company’s open network of battery exchange stations and charge spots in homes, businesses and parking lots.
Canada-based Bullfrog Power will provide the Better Place network with electricity from local renewable sources to avoid shifting emissions from tailpipe to smokestack and support Ontario’s commitment to end the use of coal-fired generation by 2014.
Contacts BlissPRJohn C. Pappas, 212-840-1661Senior Account Executivepappas@blisspr.comorMinistry of International Trade and InvestmentRay Lancashire, 416-326-1608Media Relations, Invest Ontarioray.lancashire@ontario.ca
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
TORONTO----Ontario is joining forces with a world-leading company that creates innovative infrastructure for electric cars — a necessary step in getting electric cars running on Ontario’s roads and highways.
California-based Better Place will establish a Canadian head-office in Ontario. They will build an electric car demonstration and education centre in Toronto to lay the groundwork to help get electric vehicles running on Ontario roads. By May 2009, the Ontario government will release a study which will look at ways to speed up the introduction of electric vehicles including:
Financial incentives designed to encourage the purchase of electric vehicles Preferred access to transportation grid to encourage the adoption of electric vehicles Forward looking procurement policies to speed government adoption of electric vehicles into fleet services where appropriate Coordinated public education and promotion of electric vehicles as a mode of personal transportation. At the same time, Better Place will develop an electric car charging network rollout plan and timelines.
"I want to thank Better Place for their vision, and welcome them to Ontario. We have a workforce second to none and matched with this innovative business, we could provide a real opportunity for jobs and economic growth in the future," said Premier Dalton McGuinty.
"Today’s announcement shows how Ontario is using its portfolio of strategic investment tools to attract global visionaries to our province. It’s about keeping Ontario ahead of the curve in a knowledge and technology-based economy," said Sandra Pupatello, Minister of International Trade and Investment.
"With its forward-looking leadership, Ontario is taking a major step toward sustainable transportation and setting a visible example for the world. As a major auto producer with significant manufacturing expertise and facilities, Ontario stands to benefit from the inevitable and accelerating shift to electric cars. Transition to the Car 2.0 model of electric vehicles powered by renewable energy presents an historic opportunity for Ontario and Canada to help lead the world in economic growth and environmental recovery for the next century," said Shai Agassi, Better Place Founder and CEO.
For every 10,000 electric vehicles on the road, Better Place estimates that Ontario will offset more than 40,000 tons of carbon dioxide annually.
Under the Better Place model, electric car drivers enroll in a subscription plan to use the company’s open network of battery exchange stations and charge spots in homes, businesses and parking lots.
Canada-based Bullfrog Power will provide the Better Place network with electricity from local renewable sources to avoid shifting emissions from tailpipe to smokestack and support Ontario’s commitment to end the use of coal-fired generation by 2014.
Contacts BlissPRJohn C. Pappas, 212-840-1661Senior Account Executivepappas@blisspr.comorMinistry of International Trade and InvestmentRay Lancashire, 416-326-1608Media Relations, Invest Ontarioray.lancashire@ontario.ca
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Monday, January 19, 2009
MASDAR AND ADNOC SIGN FRAMEWORK AGREEMENT TO DEVELOP CARBON EMISSION REDUCTION PROJECTS IN ABU DHABI
MASDAR AND ADNOC SIGN FRAMEWORK AGREEMENT TO DEVELOP CARBON EMISSION REDUCTION PROJECTS IN ABU DHABI
ABU DHABI, January 18, 2009 — Masdar and the Abu Dhabi National Oil Company (ADNOC) signed today a framework agreement to develop a series of ground-breaking projects to reduce carbon emissions from Abu Dhabi’s oil and gas facilities and monetize the emission reduction under the Kyoto Protocol’s Clean Development Mechanism (CDM).
Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), a wholly owned company of the government of Abu Dhabi through the Mubadala Development Company. The CDM, a project-based regulatory mechanism led by the United Nations, provides financial incentives to reduce greenhouse gas emissions in countries that do not have binding reduction commitments under the Kyoto Protocol, by turning emission reductions into tradable assets or “Certified Emission Reductions” (CERs) or carbon credits. The agreement allows Masdar to identify and develop a portfolio of CDM projects at ADNOC group companies’ facilities in Abu Dhabi on an on-going basis. Five CDM projects are currently under development by ADNOC, with the capacity to reduce four million tons of carbon dioxide emissions, are already in the pipeline for registration at the United Nations by Masdar. “ADNOC’s partnership with Masdar raises the bar for oil companies looking to reduce their carbon footprint. We are proud to work with Masdar such that the CDM can be effectively used to support our efforts to reduce environmental impact and ensure a sustainable future for the industry” said HE Yousef Omair Bin Yousef, ADNOC’s Chief Executive Officer. As part of the agreement, MASDAR will monitor the life cycle of the CDM projects in ADNOC’s portfolio and assure their registration at the United Nations, the monitoring of emissions and the delivery of carbon credits. “Our agreement with ADNOC is a step forward towards fulfilling the Abu Dhabi leadership’s directives to reduce carbon emissions,” said Dr. Sultan Al Jaber, Masdar’s Chief Executive Officer. Introducing the CDM at ADNOC is an important step into building a successful and sustainable low carbon economy in Abu Dhabi and ADNOC facilities present a tremendous opportunity for Masdar to deliver on one of its missions-, to become a carbon emission reduction solution provider at home,” Added Al Jaber. The partnership will represent a major carbon reduction and monetization initiative for the oil and gas industry in the gulf region. The CDM projects in the pipeline for UN registration: ADGAS – Das Island: Natural gas flaring will be reduced by installing a new pipeline to recover the excess fuel and flash gases which will be reused as fuel. The project will utilize the flared gas as fuel. Consequently, it will reduce carbon dioxide emission as well as the need for fuel. TAKREER: This project will conserve the previously flared gas streams at the Ruwais refinery at Takreer. The collected gases will be compressed and sent to the fuel gas system in order to partially replace the natural gas imported from a nearby gas field. FERTIL: The project, the first of its kind in the Arab world, will recover the carbon dioxide emissions from flue gases generated due to fuel burning, to convert ammonia into urea in FERTIL’s Ammonia/Urea plant in Ruwais. GASCO: This project will install energy efficient seals on the ground flare systems of the gas processing complexes at Bab, Buhasa and Asab to reduce fuel gas consumption needed to purge the flare header and avoid air entrance. GASCO: This project will recover the previously flared waste gases generated from the gas processing complex at Habshan. The recovered gases will partially replace the imported fuel gas, thus CO2 emission will decrease and additional fuel will be available to the other consumers. About Masdar
The Masdar Initiative is Abu Dhabi’s multi-faceted investment in the development and commercialization of innovative technologies in renewable, alternative and sustainable energies as well as sustainable design. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), a wholly owned company of the government of Abu Dhabi through the Mubadala Development Company. In January 2008, Abu Dhabi announced it will invest $15 billion in Masdar, the largest single government investment of its kind.
Masdar is actively developing a portfolio of carbon-related projects in oil & gas, power and renewable energy, together with various government and industry partners. Masdar is also focused on advancing CO2 capture and storage (CCS) for enhanced oil recovery - a strategic technology with positive impact on the regional economy. For more information about the Masdar Initiative, please visit www.masdaruae.com. Press Contacts: Masdar:Zarmineh RabCorporate Communications Manager+971 50 450 2315zrab@masdar.ae
Americas Michael IacovellaTel +1 212 704 8254Mobile +1 917 532 7977michael.iacovella@edelman.com
UK/EU Laura MisselbrookTel +44 (0) 203 047 2208Laura.misselbrook@edelman.com
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
ABU DHABI, January 18, 2009 — Masdar and the Abu Dhabi National Oil Company (ADNOC) signed today a framework agreement to develop a series of ground-breaking projects to reduce carbon emissions from Abu Dhabi’s oil and gas facilities and monetize the emission reduction under the Kyoto Protocol’s Clean Development Mechanism (CDM).
Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), a wholly owned company of the government of Abu Dhabi through the Mubadala Development Company. The CDM, a project-based regulatory mechanism led by the United Nations, provides financial incentives to reduce greenhouse gas emissions in countries that do not have binding reduction commitments under the Kyoto Protocol, by turning emission reductions into tradable assets or “Certified Emission Reductions” (CERs) or carbon credits. The agreement allows Masdar to identify and develop a portfolio of CDM projects at ADNOC group companies’ facilities in Abu Dhabi on an on-going basis. Five CDM projects are currently under development by ADNOC, with the capacity to reduce four million tons of carbon dioxide emissions, are already in the pipeline for registration at the United Nations by Masdar. “ADNOC’s partnership with Masdar raises the bar for oil companies looking to reduce their carbon footprint. We are proud to work with Masdar such that the CDM can be effectively used to support our efforts to reduce environmental impact and ensure a sustainable future for the industry” said HE Yousef Omair Bin Yousef, ADNOC’s Chief Executive Officer. As part of the agreement, MASDAR will monitor the life cycle of the CDM projects in ADNOC’s portfolio and assure their registration at the United Nations, the monitoring of emissions and the delivery of carbon credits. “Our agreement with ADNOC is a step forward towards fulfilling the Abu Dhabi leadership’s directives to reduce carbon emissions,” said Dr. Sultan Al Jaber, Masdar’s Chief Executive Officer. Introducing the CDM at ADNOC is an important step into building a successful and sustainable low carbon economy in Abu Dhabi and ADNOC facilities present a tremendous opportunity for Masdar to deliver on one of its missions-, to become a carbon emission reduction solution provider at home,” Added Al Jaber. The partnership will represent a major carbon reduction and monetization initiative for the oil and gas industry in the gulf region. The CDM projects in the pipeline for UN registration: ADGAS – Das Island: Natural gas flaring will be reduced by installing a new pipeline to recover the excess fuel and flash gases which will be reused as fuel. The project will utilize the flared gas as fuel. Consequently, it will reduce carbon dioxide emission as well as the need for fuel. TAKREER: This project will conserve the previously flared gas streams at the Ruwais refinery at Takreer. The collected gases will be compressed and sent to the fuel gas system in order to partially replace the natural gas imported from a nearby gas field. FERTIL: The project, the first of its kind in the Arab world, will recover the carbon dioxide emissions from flue gases generated due to fuel burning, to convert ammonia into urea in FERTIL’s Ammonia/Urea plant in Ruwais. GASCO: This project will install energy efficient seals on the ground flare systems of the gas processing complexes at Bab, Buhasa and Asab to reduce fuel gas consumption needed to purge the flare header and avoid air entrance. GASCO: This project will recover the previously flared waste gases generated from the gas processing complex at Habshan. The recovered gases will partially replace the imported fuel gas, thus CO2 emission will decrease and additional fuel will be available to the other consumers. About Masdar
The Masdar Initiative is Abu Dhabi’s multi-faceted investment in the development and commercialization of innovative technologies in renewable, alternative and sustainable energies as well as sustainable design. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), a wholly owned company of the government of Abu Dhabi through the Mubadala Development Company. In January 2008, Abu Dhabi announced it will invest $15 billion in Masdar, the largest single government investment of its kind.
Masdar is actively developing a portfolio of carbon-related projects in oil & gas, power and renewable energy, together with various government and industry partners. Masdar is also focused on advancing CO2 capture and storage (CCS) for enhanced oil recovery - a strategic technology with positive impact on the regional economy. For more information about the Masdar Initiative, please visit www.masdaruae.com. Press Contacts: Masdar:Zarmineh RabCorporate Communications Manager+971 50 450 2315zrab@masdar.ae
Americas Michael IacovellaTel +1 212 704 8254Mobile +1 917 532 7977michael.iacovella@edelman.com
UK/EU Laura MisselbrookTel +44 (0) 203 047 2208Laura.misselbrook@edelman.com
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Sunday, January 18, 2009
Investing In a Better World; Renewable Energy, Cleantech and Water Industry and Investing Affiliate Program
Investing In a Better World; Renewable Energy, Cleantech and Water Industry and Investing Affiliate Program
Affiliate websites in the sector can now feature stock directories in cleantech
POINT ROBERTS, Wash., Delta B.C., January 18 2009 - www.InvestorIdeas.com, and its global investor and industry Greentech portals announce the launch of a new affiliate program for renewable energy, green and water industry and investing websites.
Affiliate websites in the sector can now feature memberships to access investing info and stock directories in cleantech.
Investor Ideas was one of the first investor websites covering renewable energy and water investing and is known as a global destination for research tools and resources. Affiliates can now offer the research directories as an added tool to their site visitors and members, as well as create a new online revenue stream.
Investor Ideas memberships includes access to restricted content at the Water Stocks Directory, Renewable Energy Stocks Directory, the Biotech Stocks Directory, Defense Stocks Directory and the Insiders Corner by Michael Brush. New content and features are added regularly and each stock directory is updated monthly with additions and changes.
Affiliate Program
Investorideas.com is currently a vendor on Paydotcom.comOur affiliate link: https://paydotcom.com/a.page.php?id=79865&u=Investorideas
Affiliates can sell the Investor Ideas Memberships at $99, with commissions of $9.90 - Sign up today and start earning commissions
Investor Ideas Membership $99.00 Accepting: PayPal Status: ActiveBecome an Investorideas.com Member today to be one step ahead on leading sectors , global trends and insider trading ideas. Just $99 a year gets you access to restricted content - The Insiders Corner , the Renewable Energy Stocks Directory, Water Stocks Directory, Biotech Stocks Directory and recently added Defense Stocks Directory
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With markets and investor sentiment changing daily- it is more important than ever to stay on top of key trends! Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Stock Directories.Learn more: - http://www.investorideas.com/membership/
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.
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, Blogs, and a directory of stocks within the renewable energy sector.
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. www.InvestorIdeas.com/About/Disclaimer.asp
For Additional Information:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com or cvanzant@investorideas.com
Source – Investorideas.com
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Affiliate websites in the sector can now feature stock directories in cleantech
POINT ROBERTS, Wash., Delta B.C., January 18 2009 - www.InvestorIdeas.com, and its global investor and industry Greentech portals announce the launch of a new affiliate program for renewable energy, green and water industry and investing websites.
Affiliate websites in the sector can now feature memberships to access investing info and stock directories in cleantech.
Investor Ideas was one of the first investor websites covering renewable energy and water investing and is known as a global destination for research tools and resources. Affiliates can now offer the research directories as an added tool to their site visitors and members, as well as create a new online revenue stream.
Investor Ideas memberships includes access to restricted content at the Water Stocks Directory, Renewable Energy Stocks Directory, the Biotech Stocks Directory, Defense Stocks Directory and the Insiders Corner by Michael Brush. New content and features are added regularly and each stock directory is updated monthly with additions and changes.
Affiliate Program
Investorideas.com is currently a vendor on Paydotcom.comOur affiliate link: https://paydotcom.com/a.page.php?id=79865&u=Investorideas
Affiliates can sell the Investor Ideas Memberships at $99, with commissions of $9.90 - Sign up today and start earning commissions
Investor Ideas Membership $99.00 Accepting: PayPal Status: ActiveBecome an Investorideas.com Member today to be one step ahead on leading sectors , global trends and insider trading ideas. Just $99 a year gets you access to restricted content - The Insiders Corner , the Renewable Energy Stocks Directory, Water Stocks Directory, Biotech Stocks Directory and recently added Defense Stocks Directory
Investorideas.com Membership
With markets and investor sentiment changing daily- it is more important than ever to stay on top of key trends! Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Stock Directories.Learn more: - http://www.investorideas.com/membership/
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.
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, Blogs, and a directory of stocks within the renewable energy sector.
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. www.InvestorIdeas.com/About/Disclaimer.asp
For Additional Information:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com or cvanzant@investorideas.com
Source – Investorideas.com
News & Stories Published at Clean Energy Stocks Blog
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Massachusetts Moves Closer to Having Nation’s First Offshore Wind Farm and More Secure Energy
Massachusetts Moves Closer to Having Nation’s First Offshore Wind Farm and More Secure Energy
Future Cape Wind Project Draws Near As Final Report Released
BOSTON- After seven and a half years of comprehensive environmental review, scores of public hearings and community meetings, and energy challenges that make Cape Wind more essential now than when it was first proposed in 2001, the lead agency in charge of offshore energy projects today released its 2,800-page Final Environmental Impact Statement on Cape Wind.
“This report validates the project will create new jobs, increase energy independence and fight global warming while being a good neighbor to the ecosystem of Nantucket Sound,” said the project’s developer, Jim Gordon. “Massachusetts is one major step closer to becoming home to America’s first offshore wind farm and becoming a global leader in the production of offshore renewable energy,” Gordon added. “This moment would not have arrived without the steadfast support of environmental, labor, health and citizen advocacy groups throughout the region and I want to thank them for the important role they have played throughout this public process.”
From the Minerals Management Service (MMS) Final Environmental Impact Statement (FEIS):
Horseshoe Shoal in Nantucket Sound is environmentally and economically superior to the alternative site locations that were studied. Cape Wind will reduce regional air pollution emissions of sulfur dioxide, nitrogen oxide and mercury, pollutants that harm human health. Cape Wind will reduce regional greenhouse gas emissions that contribute to climate change by 880,000 tons per year. Building Cape Wind will create hundreds of jobs and generate over a half-billion dollars in non-labor purchases in Massachusetts and Rhode Island. Cape Wind will not increase energy prices in New England and could help to lower energy clearing prices. Most of Cape Wind’s electricity will be consumed on Cape Cod and the Islands where it will supply ¾ of that region’s electricity and improve electric transmission performance. Cape Wind will have a substantial positive impact on electrical generating capacity and help Massachusetts achieve its renewable energy requirements under the State’s Renewable Portfolio Standard. Cape Wind will have no major impacts on navigation, fishing, or tourism. Now that the MMS has issued the FEIS, its Record of Decision on granting a lease to Cape Wind could come within 30 days. According to the MMS FEIS its, “...final decision would account for the regional, state, and local benefits and impacts as well as for the overall public interest of the United States.”
The FEIS comes one year after MMS issued a Draft EIS which generated over 42,000 written public comments, over 40,000 of which were in support of the project. Prior to the MMS becoming the lead Federal Reviewing Agency, the US Army Corps of Engineers issued a comprehensive 3,800-page DEIS on Cape Wind in November, 2004 that found significant public benefits and few impacts.
In March, 2007, Secretary of the Executive Office of Energy and Environmental Affairs Ian A. Bowles certified that Cape Wind’s environmental impact report on the proposed transmission lines adequately and properly complied with the statutory requirements of the Massachusetts Environmental Policy Act. At that time, Secretary Bowles noted that Cape Wind’s impact on reducing greenhouse gas emissions was the equivalent of removing 175,000 cars off the road each year.
In 2005, the Massachusetts Energy Facilities Sting Board approved Cape Wind’s application after a 32-month review that included 2,900 pages of transcripts, 923 exhibits and 50,000 pages of documentary evidence. The Siting Board found that Cape Wind would meet an identified need for electricity and would provide a reliable energy supply for Massachusetts, with a minimum impact on the environment at the least cost. The Siting Board’s approval was later upheld by the Massachusetts Supreme Judicial Court.
Cape Wind officials expect to complete the permitting process by March, 2009.
Cape Wind’s proposal to build America’s first offshore wind farm on Horseshoe Shoal would provide three-quarters of the electricity used on Cape Cod and the Islands from clean, renewable energy - reducing this region’s need to import oil, coal and gas. Cape Wind will create new jobs, stable electric costs, contribute to a healthier environment, increase energy independence and establish Massachusetts as a leader in offshore wind power. For more information visit www.capewind.org.
Contacts For Cape Wind
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Future Cape Wind Project Draws Near As Final Report Released
BOSTON- After seven and a half years of comprehensive environmental review, scores of public hearings and community meetings, and energy challenges that make Cape Wind more essential now than when it was first proposed in 2001, the lead agency in charge of offshore energy projects today released its 2,800-page Final Environmental Impact Statement on Cape Wind.
“This report validates the project will create new jobs, increase energy independence and fight global warming while being a good neighbor to the ecosystem of Nantucket Sound,” said the project’s developer, Jim Gordon. “Massachusetts is one major step closer to becoming home to America’s first offshore wind farm and becoming a global leader in the production of offshore renewable energy,” Gordon added. “This moment would not have arrived without the steadfast support of environmental, labor, health and citizen advocacy groups throughout the region and I want to thank them for the important role they have played throughout this public process.”
From the Minerals Management Service (MMS) Final Environmental Impact Statement (FEIS):
Horseshoe Shoal in Nantucket Sound is environmentally and economically superior to the alternative site locations that were studied. Cape Wind will reduce regional air pollution emissions of sulfur dioxide, nitrogen oxide and mercury, pollutants that harm human health. Cape Wind will reduce regional greenhouse gas emissions that contribute to climate change by 880,000 tons per year. Building Cape Wind will create hundreds of jobs and generate over a half-billion dollars in non-labor purchases in Massachusetts and Rhode Island. Cape Wind will not increase energy prices in New England and could help to lower energy clearing prices. Most of Cape Wind’s electricity will be consumed on Cape Cod and the Islands where it will supply ¾ of that region’s electricity and improve electric transmission performance. Cape Wind will have a substantial positive impact on electrical generating capacity and help Massachusetts achieve its renewable energy requirements under the State’s Renewable Portfolio Standard. Cape Wind will have no major impacts on navigation, fishing, or tourism. Now that the MMS has issued the FEIS, its Record of Decision on granting a lease to Cape Wind could come within 30 days. According to the MMS FEIS its, “...final decision would account for the regional, state, and local benefits and impacts as well as for the overall public interest of the United States.”
The FEIS comes one year after MMS issued a Draft EIS which generated over 42,000 written public comments, over 40,000 of which were in support of the project. Prior to the MMS becoming the lead Federal Reviewing Agency, the US Army Corps of Engineers issued a comprehensive 3,800-page DEIS on Cape Wind in November, 2004 that found significant public benefits and few impacts.
In March, 2007, Secretary of the Executive Office of Energy and Environmental Affairs Ian A. Bowles certified that Cape Wind’s environmental impact report on the proposed transmission lines adequately and properly complied with the statutory requirements of the Massachusetts Environmental Policy Act. At that time, Secretary Bowles noted that Cape Wind’s impact on reducing greenhouse gas emissions was the equivalent of removing 175,000 cars off the road each year.
In 2005, the Massachusetts Energy Facilities Sting Board approved Cape Wind’s application after a 32-month review that included 2,900 pages of transcripts, 923 exhibits and 50,000 pages of documentary evidence. The Siting Board found that Cape Wind would meet an identified need for electricity and would provide a reliable energy supply for Massachusetts, with a minimum impact on the environment at the least cost. The Siting Board’s approval was later upheld by the Massachusetts Supreme Judicial Court.
Cape Wind officials expect to complete the permitting process by March, 2009.
Cape Wind’s proposal to build America’s first offshore wind farm on Horseshoe Shoal would provide three-quarters of the electricity used on Cape Cod and the Islands from clean, renewable energy - reducing this region’s need to import oil, coal and gas. Cape Wind will create new jobs, stable electric costs, contribute to a healthier environment, increase energy independence and establish Massachusetts as a leader in offshore wind power. For more information visit www.capewind.org.
Contacts For Cape Wind
News & Stories Published at Clean Energy Stocks Blog
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Thursday, January 15, 2009
'ASES Green Collar Jobs Report Forecasts 37 Million Jobs From Renewable Energy and Energy Efficiency in U.S. by 2030
'ASES Green Collar Jobs' Report Forecasts 37 Million Jobs From Renewable Energy and Energy Efficiency in U.S. by 2030
ASES / MISI study reveals opportunities, warnings in nation's first update of groundbreaking study; hottest sectors: solar, wind, biofuels, fuel cells
BOULDER, Colo., Jan. 15 /2009 -- The renewable energy and energy efficiency (RE&EE) industries represented more than 9 million jobs and $1,045 billion in U.S. revenue in 2007, according to a new report offering the most detailed analysis yet of the green economy. The renewable energy industry grew three times as fast as the U.S. economy, with the solar thermal, photovoltaic, biodiesel, and ethanol sectors leading the way, each with 25%+ annual revenue growth.
View the report at: www.ases.org/greenjobs
The new ASES Green Collar Jobs report from the nonprofit American Solar Energy Society (ASES) based in Boulder, and Management Information Services, Inc (MISI), an internationally recognized economic research firm in Washington D.C., provides a sector-by-sector analysis of where the opportunities are in the renewable energy and energy efficiency industries.
"There's a new sense of optimism in the green economy," said Brad Collins, ASES' Executive Director. "But while the U.S. could see million of new jobs in renewable energy and energy efficiency, this will only happen with the necessary leadership, research, development, and public policy at the federal and state levels."
Key conclusions from this report include:
Renewable energy and energy efficiency currently provide more than 9 million jobs and $1,045 billion in revenue in the U.S. (2007). The previous year (2006) renewable energy and energy efficiency represented 8.5 million jobs and $972 billion in revenue. 95% of the jobs are in private industry. As many as 37 million jobs can be generated by the renewable energy and energy efficiency industries in the U.S. by 2030 - more than 17% of all anticipated U.S. employment. Hottest sectors include solar thermal, photovoltaics, biofuels, and fuel cells. Hot job areas include electricians, mechanical engineers, welders, metal workers, construction managers, accountants, analysts, and environmental scientists.
The report forecasts job and revenue growth under three scenarios for U.S. as well as a case study from Colorado.
About the American Solar Energy Society
For more than 50 years the American Solar Energy Society has been leading national efforts to promote education, public outreach, and research about solar energy and other sustainable technologies. www.ases.org
Website: http://www.ases.org/
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
ASES / MISI study reveals opportunities, warnings in nation's first update of groundbreaking study; hottest sectors: solar, wind, biofuels, fuel cells
BOULDER, Colo., Jan. 15 /2009 -- The renewable energy and energy efficiency (RE&EE) industries represented more than 9 million jobs and $1,045 billion in U.S. revenue in 2007, according to a new report offering the most detailed analysis yet of the green economy. The renewable energy industry grew three times as fast as the U.S. economy, with the solar thermal, photovoltaic, biodiesel, and ethanol sectors leading the way, each with 25%+ annual revenue growth.
View the report at: www.ases.org/greenjobs
The new ASES Green Collar Jobs report from the nonprofit American Solar Energy Society (ASES) based in Boulder, and Management Information Services, Inc (MISI), an internationally recognized economic research firm in Washington D.C., provides a sector-by-sector analysis of where the opportunities are in the renewable energy and energy efficiency industries.
"There's a new sense of optimism in the green economy," said Brad Collins, ASES' Executive Director. "But while the U.S. could see million of new jobs in renewable energy and energy efficiency, this will only happen with the necessary leadership, research, development, and public policy at the federal and state levels."
Key conclusions from this report include:
Renewable energy and energy efficiency currently provide more than 9 million jobs and $1,045 billion in revenue in the U.S. (2007). The previous year (2006) renewable energy and energy efficiency represented 8.5 million jobs and $972 billion in revenue. 95% of the jobs are in private industry. As many as 37 million jobs can be generated by the renewable energy and energy efficiency industries in the U.S. by 2030 - more than 17% of all anticipated U.S. employment. Hottest sectors include solar thermal, photovoltaics, biofuels, and fuel cells. Hot job areas include electricians, mechanical engineers, welders, metal workers, construction managers, accountants, analysts, and environmental scientists.
The report forecasts job and revenue growth under three scenarios for U.S. as well as a case study from Colorado.
About the American Solar Energy Society
For more than 50 years the American Solar Energy Society has been leading national efforts to promote education, public outreach, and research about solar energy and other sustainable technologies. www.ases.org
Website: http://www.ases.org/
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Tuesday, January 13, 2009
T. Boone Pickens Launches Monthly Update on Foreign Oil Purchases
T. Boone Pickens Launches Monthly Update on Foreign Oil Purchases
US Sent Nearly $20 Billion Overseas and Imported 66.5% of Oil in December 2008
Pickens Highlights Disparity in Spending on Infrastructure:
Oil Rich Middle East Nations Spend Billions of US Energy Dollars on New Schools, Roads, Airports while US Infrastructure Crumbles
With Gas Prices Back on the Rise and Middle East Threatening Oil Embargo Pickens Warns:
Our Kids Are Falling Behind While Our Enemies Get Richer
Washington, DC – January 13, 2009 – Highlighting the impact of America’s staggering dependence on foreign on investment in domestic programs and infrastructure development, T. Boone Pickens, at a press conference today in Washington, DC, launched a program that will track monthly the amount of foreign oil imported from foreign countries. Mr. Pickens will continue his campaign for the Pickens Plan in 2009 by providing monthly updates of the United States’ monthly imports of foreign oil and focusing the American people’s attention on the progress the nation is making to reduce foreign oil imports.
Based on the latest figures from the US Department of Energy’s Energy Information Administration (EIA), the US imported 66.5 percent of its oil, or 380 million barrels in December 2008, sending approximately $19.3 billion overseas to foreign governments. In total, the US spent approximately $475 billion on imported oil in 2008.
“Our dependence on foreign oil remains at a critical stage” said Mr. Pickens. “Last month alone we imported nearly 380 million barrels of oil at a cost of nearly $20 billion. It is outrageous that we are sending billions of dollars-- $432,000 per minute-- overseas to foreign countries while domestic programs at home remain severely underfunded. This transfer of wealth is among the greatest in human history and is streaming revenue away from investment in our own communities into other countries, many of which are not our allies. These countries are taking our dollars and building beautiful state of the art schools, airports, roads, government buildings while our roads and bridges are full of holes, our schools remain in poor condition, and our infrastructure is in dire need of an upgrade. There are better choices for where we spend our money, and I’d say it should be right here in the United States.
“On the day Steven Chu is considered before the Senate to serve as Energy Secretary for Obama—who has committed to reducing foreign oil dependency and even eliminating Middle East imports within a decade—we’re launching this monthly update to help them track their progress. I’ve criss-crossed the country and know that people are hungry for this type of change.
“The events of recent days in the Middle East, the comments of the Iranian leadership threatening an oil embargo to any country supporting Israel, the actions of the Russians to control the supply of natural gas and OPEC’s decision to cut production should be a major reminder that when we import oil from these nations we do not control our own destiny and we are vulnerable. Oil prices are volatile-- so is the price of gasoline, and that creates uncertainty, which is bad for the economy,” said Mr. Pickens.
“Crisis means danger to us but also an opportunity for us to fix this situation once and for all. Now more than ever we need to take control of our energy future, keeping jobs and dollars on our own soil.”
According to Mr. Pickens, the U.S. Department of Education currently administers a budget of $59.2 billion per year. Oil-rich nations such as Saudi Arabia and Venezuela, both of whose populations total approximately 1/12 of the U.S. population, have dedicated $32.5 billion and $19.7 billion respectively towards education in 2009.
COUNTRY
POPULATION
2009 EDUCATION BUDGET
United States
303,824,640
$59.2 billion
Saudi Arabia
27,601,038
$32.5 billion
Venezuela
28,400,457
$19.7 billion
Continued Mr. Pickens, “Our kids are falling behind while our enemies get richer. We must reduce our dependency on foreign oil—now. The Pickens Plan can get us there.”
Unveiled on July 8, 2008 by T. Boone Pickens, the Pickens Plan is a detailed solution for ending the United States’ growing dependence on foreign oil. Earlier this year, when oil prices reached $140/barrel, America was spending about $700 billion for foreign oil, equaling the greatest transfer of wealth in human history. That figure has decreased some while oil prices have retreated, but the U.S. is still dependent on foreign nations for nearly 70 percent of its oil, representing a continuing national economic and national security threat. The plan calls for investing in power generation from domestic renewable resources such as wind and using our abundant supplies of natural gas as a transportation fuel, replacing more than one-third of our imported oil.
More than 1,350,000 people have joined the Pickens Army through the website www.pickensplan.com , which has had over 14,000,000 hits. For more information on the Pickens Plan please visit our website.
Contact: Jay Rosser
214 265 4165
Jay@bpcap.net
Melissa McKay
212 446 1898
press@pickensplan.com
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
US Sent Nearly $20 Billion Overseas and Imported 66.5% of Oil in December 2008
Pickens Highlights Disparity in Spending on Infrastructure:
Oil Rich Middle East Nations Spend Billions of US Energy Dollars on New Schools, Roads, Airports while US Infrastructure Crumbles
With Gas Prices Back on the Rise and Middle East Threatening Oil Embargo Pickens Warns:
Our Kids Are Falling Behind While Our Enemies Get Richer
Washington, DC – January 13, 2009 – Highlighting the impact of America’s staggering dependence on foreign on investment in domestic programs and infrastructure development, T. Boone Pickens, at a press conference today in Washington, DC, launched a program that will track monthly the amount of foreign oil imported from foreign countries. Mr. Pickens will continue his campaign for the Pickens Plan in 2009 by providing monthly updates of the United States’ monthly imports of foreign oil and focusing the American people’s attention on the progress the nation is making to reduce foreign oil imports.
Based on the latest figures from the US Department of Energy’s Energy Information Administration (EIA), the US imported 66.5 percent of its oil, or 380 million barrels in December 2008, sending approximately $19.3 billion overseas to foreign governments. In total, the US spent approximately $475 billion on imported oil in 2008.
“Our dependence on foreign oil remains at a critical stage” said Mr. Pickens. “Last month alone we imported nearly 380 million barrels of oil at a cost of nearly $20 billion. It is outrageous that we are sending billions of dollars-- $432,000 per minute-- overseas to foreign countries while domestic programs at home remain severely underfunded. This transfer of wealth is among the greatest in human history and is streaming revenue away from investment in our own communities into other countries, many of which are not our allies. These countries are taking our dollars and building beautiful state of the art schools, airports, roads, government buildings while our roads and bridges are full of holes, our schools remain in poor condition, and our infrastructure is in dire need of an upgrade. There are better choices for where we spend our money, and I’d say it should be right here in the United States.
“On the day Steven Chu is considered before the Senate to serve as Energy Secretary for Obama—who has committed to reducing foreign oil dependency and even eliminating Middle East imports within a decade—we’re launching this monthly update to help them track their progress. I’ve criss-crossed the country and know that people are hungry for this type of change.
“The events of recent days in the Middle East, the comments of the Iranian leadership threatening an oil embargo to any country supporting Israel, the actions of the Russians to control the supply of natural gas and OPEC’s decision to cut production should be a major reminder that when we import oil from these nations we do not control our own destiny and we are vulnerable. Oil prices are volatile-- so is the price of gasoline, and that creates uncertainty, which is bad for the economy,” said Mr. Pickens.
“Crisis means danger to us but also an opportunity for us to fix this situation once and for all. Now more than ever we need to take control of our energy future, keeping jobs and dollars on our own soil.”
According to Mr. Pickens, the U.S. Department of Education currently administers a budget of $59.2 billion per year. Oil-rich nations such as Saudi Arabia and Venezuela, both of whose populations total approximately 1/12 of the U.S. population, have dedicated $32.5 billion and $19.7 billion respectively towards education in 2009.
COUNTRY
POPULATION
2009 EDUCATION BUDGET
United States
303,824,640
$59.2 billion
Saudi Arabia
27,601,038
$32.5 billion
Venezuela
28,400,457
$19.7 billion
Continued Mr. Pickens, “Our kids are falling behind while our enemies get richer. We must reduce our dependency on foreign oil—now. The Pickens Plan can get us there.”
Unveiled on July 8, 2008 by T. Boone Pickens, the Pickens Plan is a detailed solution for ending the United States’ growing dependence on foreign oil. Earlier this year, when oil prices reached $140/barrel, America was spending about $700 billion for foreign oil, equaling the greatest transfer of wealth in human history. That figure has decreased some while oil prices have retreated, but the U.S. is still dependent on foreign nations for nearly 70 percent of its oil, representing a continuing national economic and national security threat. The plan calls for investing in power generation from domestic renewable resources such as wind and using our abundant supplies of natural gas as a transportation fuel, replacing more than one-third of our imported oil.
More than 1,350,000 people have joined the Pickens Army through the website www.pickensplan.com , which has had over 14,000,000 hits. For more information on the Pickens Plan please visit our website.
Contact: Jay Rosser
214 265 4165
Jay@bpcap.net
Melissa McKay
212 446 1898
press@pickensplan.com
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
Monday, January 12, 2009
Indications for cleantech and renewable energy sector outlook
Scanning news today trying to get some insight into the thoughts and outlook within the industry - in spite of some of the stocks down today - the outlook still seems strong
If investors think long term and are patient - the rewards will be there moving forward.
Green energy firms upbeat about prospects despite economic woes
Lauren Krugel, THE CANADIAN PRESS January 11, 2009 CALGARY -
It's easier being green these days than one might think, say renewable energy companies, which have honed in on some lucrative opportunities amid the wreckage of the global economic crisis.
full story- http://finance.sympatico.msn.ca/investing/insight/article.aspx?cp-documentid=16760539
Israel seeks 10 percent of energy from renewables by 2020
Reuters \Mon, 12 Jan 2009
Israel's government on Monday set a target of producing 10 percent of the country's electricity from renewable energy sources such as solar and wind by 2020.
http://uk.news.yahoo.com/22/20090112/twl-environment-us-israel-energy-1202b49.html
Dem Senators:Stimulus Renewable Energy Tax Credits To Increase
Nasdaq -(Dow Jones)- Tax credits aimed at spurring growth in renewable energy sources are likely to be increased to around $25 billion from an earlier proposal of $10 billion as part of the economic recovery package, several Democratic senators said Sunday.
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20090111/ACQDJON200901111843DOWJONESDJONLINE000350.htm&&mypage=newsheadlines&title=Dem%20Senators:Stimulus%20Renewable%20Energy%20Tax%20Credits%20To%20Increase
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
If investors think long term and are patient - the rewards will be there moving forward.
Green energy firms upbeat about prospects despite economic woes
Lauren Krugel, THE CANADIAN PRESS January 11, 2009 CALGARY -
It's easier being green these days than one might think, say renewable energy companies, which have honed in on some lucrative opportunities amid the wreckage of the global economic crisis.
full story- http://finance.sympatico.msn.ca/investing/insight/article.aspx?cp-documentid=16760539
Israel seeks 10 percent of energy from renewables by 2020
Reuters \Mon, 12 Jan 2009
Israel's government on Monday set a target of producing 10 percent of the country's electricity from renewable energy sources such as solar and wind by 2020.
http://uk.news.yahoo.com/22/20090112/twl-environment-us-israel-energy-1202b49.html
Dem Senators:Stimulus Renewable Energy Tax Credits To Increase
Nasdaq -(Dow Jones)- Tax credits aimed at spurring growth in renewable energy sources are likely to be increased to around $25 billion from an earlier proposal of $10 billion as part of the economic recovery package, several Democratic senators said Sunday.
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20090111/ACQDJON200901111843DOWJONESDJONLINE000350.htm&&mypage=newsheadlines&title=Dem%20Senators:Stimulus%20Renewable%20Energy%20Tax%20Credits%20To%20Increase
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
WorldWater Solar Technologies Changes Name to Entech Solar
WorldWater & Solar Technologies Changes Name to Entech Solar
FORT WORTH, Texas--January 12 2009 --WorldWater & Solar Technologies Corp., (OTC BB: WWAT), a leader in concentrating solar energy systems, announced today that it has changed its corporate name to Entech Solar, Inc. (the “Company”), effective January 12, 2009. The Company’s ticker will remain “WWAT.OB” temporarily until the Company is reassigned a new one. ENTECH, Inc. will continue as a subsidiary of Entech Solar, Inc.
“Entech Solar is a name that more accurately reflects the transformation of our business since our acquisition of ENTECH in January 2008,” said Frank Smith, Entech Solar’s CEO. “Today, we are a concentrating solar technology company focused on providing our advanced, cost-competitive modules to commercial and industrial customers. Entech’s core strategy will be on manufacturing and selling the company’s breakthrough ThermaVolt™ product, a combined photovoltaic and thermal concentrating solar system.”
WorldWater & Solar Technologies acquired ENTECH, Inc. in January 2008. ENTECH has been researching and developing concentrating solar systems for 25 years, making it one of the most experienced concentrating solar companies in the industry. Since the acquisition, the Company has dedicated its resources to commercializing its ThermaVolt system, which produces both electricity and thermal energy, making it one of the most efficient solar systems today.
“We have seen a lot of solar technologies, but haven’t found anything as exciting as the ThermaVolt system, which is a true game changer for the industry. We believe it will be the leader in the combined heat and power market,” said David Anthony, Director of Entech Solar and Managing Director of 21 Ventures.
In conjunction with the name change, Entech Solar has also relocated its headquarters from Ewing, NJ, to Fort Worth, TX, where its state-of-the-art, 70,000 square foot, 200MW capacity manufacturing facility is located.
About Entech Solar
Entech Solar is a leading provider of concentrating solar energy systems. Entech designs, manufactures and installs systems that provide both electricity and thermal energy for commercial and industrial applications. Entech uses its proprietary concentrating photovoltaic and thermal (CPVT) technology to deliver the ThermaVolt™ system, which produces cost-competitive distributed energy. For more information, please visit http://www.entechsolar.com/.
Contacts Entech Solar Press:Amy Copeman, 609-818-0700 ext. 58acopeman@entechsolar.comorEntech Solar Investor Relations:Chris Witty, 646-438-9385cwitty@darrowir.com
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
FORT WORTH, Texas--January 12 2009 --WorldWater & Solar Technologies Corp., (OTC BB: WWAT), a leader in concentrating solar energy systems, announced today that it has changed its corporate name to Entech Solar, Inc. (the “Company”), effective January 12, 2009. The Company’s ticker will remain “WWAT.OB” temporarily until the Company is reassigned a new one. ENTECH, Inc. will continue as a subsidiary of Entech Solar, Inc.
“Entech Solar is a name that more accurately reflects the transformation of our business since our acquisition of ENTECH in January 2008,” said Frank Smith, Entech Solar’s CEO. “Today, we are a concentrating solar technology company focused on providing our advanced, cost-competitive modules to commercial and industrial customers. Entech’s core strategy will be on manufacturing and selling the company’s breakthrough ThermaVolt™ product, a combined photovoltaic and thermal concentrating solar system.”
WorldWater & Solar Technologies acquired ENTECH, Inc. in January 2008. ENTECH has been researching and developing concentrating solar systems for 25 years, making it one of the most experienced concentrating solar companies in the industry. Since the acquisition, the Company has dedicated its resources to commercializing its ThermaVolt system, which produces both electricity and thermal energy, making it one of the most efficient solar systems today.
“We have seen a lot of solar technologies, but haven’t found anything as exciting as the ThermaVolt system, which is a true game changer for the industry. We believe it will be the leader in the combined heat and power market,” said David Anthony, Director of Entech Solar and Managing Director of 21 Ventures.
In conjunction with the name change, Entech Solar has also relocated its headquarters from Ewing, NJ, to Fort Worth, TX, where its state-of-the-art, 70,000 square foot, 200MW capacity manufacturing facility is located.
About Entech Solar
Entech Solar is a leading provider of concentrating solar energy systems. Entech designs, manufactures and installs systems that provide both electricity and thermal energy for commercial and industrial applications. Entech uses its proprietary concentrating photovoltaic and thermal (CPVT) technology to deliver the ThermaVolt™ system, which produces cost-competitive distributed energy. For more information, please visit http://www.entechsolar.com/.
Contacts Entech Solar Press:Amy Copeman, 609-818-0700 ext. 58acopeman@entechsolar.comorEntech Solar Investor Relations:Chris Witty, 646-438-9385cwitty@darrowir.com
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and Cleantech stocks as an Investor Ideas member and gain access to the stock directories. Learn More:http://www.investorideas.com/membership/
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