Protonex Awarded $3.3 Million Contract to Develop a Deployable Fuel Cell Power System for Small Unmanned Aerial Vehicles
SOUTHBOROUGH, Mass.----Protonex Technology Corporation (LSE: AIM: PTX and PTXU), a leading provider of advanced fuel cell power systems for portable, remote and mobile applications, today announces that it will develop a robust, deployable pre-production fuel cell power system, designed for powering a small, unmanned aerial vehicle (UAV) that will be capable of extended flight duration and mission endurance. This work will be completed under an awarded $3.3M contract ($2.2M base award with a $1.1M option) from the Department of Defense (DoD) and will draw on continuing developments by Protonex of its unmanned power systems and UAV technologies.
Under the terms of this contract, which was expected by management, Protonex will customize one of its fuel cell power platforms and will integrate it into development partner, AeroVironment’s (NASDAQ: AVAV) “Puma-AE” UAV. The resulting UAV, powered by the Protonex fuel cell power system, is expected to enable new long-duration missions, not previously feasible with hand-launched UAVs powered by advanced batteries.
Protonex has already demonstrated its fuel cell power systems for small UAVs through programs with the U.S. Air Force Research Laboratory, the Naval Research Laboratory, and AeroVironment. Most recently, AeroVironment’s Puma UAV, utilizing a highly advanced fuel cell system from Protonex, broke its previous flight records and flew continuously for over nine hours—three to four times the endurance capability of its current rechargeable batteries.
Until recently, extended flight endurance capabilities were only achievable with larger scale, more costly UAV platforms. With the introduction of cutting-edge fuel cell propulsion systems from Protonex, new missions such as persistent surveillance, search and rescue, chemical-biological monitoring, and other long-endurance specialty missions can be achieved by smaller, more flexible, and cost-effective UAV platforms.
“This contract represents yet another significant milestone on our path towards the full commercialization of our power systems for UAVs and is a culmination of our development and demonstration efforts to date,” stated Dr. Paul Osenar, Chief Technology Officer, Protonex. “We look forward to continuing this progress to extend the reach of this UAV technology to other military and commercial markets.”
Notes to Editors
About Protonex Technology Corporation
www.protonex.com
Protonex Technology Corporation develops and manufactures compact, lightweight and high- performance fuel cell systems for portable power applications in the 100 to 1000-watt range. The Company’s fuel cell systems are designed to meet the needs of military, commercial and consumer customers for off-grid applications underserved by existing technologies by providing customizable, stand-alone portable power solutions and systems that may be hybridized with existing power technologies. The Company is headquartered in Southborough, Massachusetts.
About AeroVironment, Inc. (AV)
www.avinc.com
Building on a history of technological innovation, AV designs, develops, produces, and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and efficient electric energy systems. Agencies of the U.S. Department of Defense and allied military services use the company’s hand-launched UAS to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance, and target acquisition. Commercial and government entities use AV’s clean transportation solutions such as electric vehicle test systems and electric vehicle fast charge systems, as well as its clean power solutions.
This announcement includes statements which are, or may be deemed to be, "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding Protonex’ financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Protonex’ products and services) are forward-looking statements. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Protonex to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These factors include but are not limited to those described in the Admission Document issued in connection with the Company’s admission to AIM.
Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements in this announcement speak only as at the date of this announcement and are subject to risks relating to future events and other risks, uncertainties and assumptions relation to Protonex’ operations, results of operations, growth strategy and liquidity.
Contacts Protonex Technology CorporationScott Pearson, +1 508-490-9960Chief Executive Officer
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Wednesday, March 18, 2009
Tuesday, March 17, 2009
The Stock Market in General and Solar Stocks in Particular; Renewable and Solar Energy Perspectives - J. Peter Lynch
The Stock Market in General and Solar Stocks in Particular; Renewable and Solar Energy Perspectives with J. Peter Lynch
March 17, 2009- Investorideas.com
Renewable and Solar Energy Perspectives with J. Peter Lynch
http://www.renewableenergystocks.com/PL/
Peter Lynch solar RSS feed: http://www.investorideas.com/RSS/feeds/PL.xml
Exclusively for InvestorIdeas.com and Renewableenergystocks.com
The Stock Market in General and Solar Stocks in Particular
As I have said many times over the years solar stocks have a bright future, a very bright future. But investors have to understand a number of things about the current stock market and solar stocks in particular in order to fully take advantage of this long-term trend.
Markets go up and markets go down and these moves usually occur when it is least expected. At the present time solar stocks, the energy industry and the market in general have been in a very serious decline. The Dow Jones is breaking records everyday and the press is full of bearish articles about the market and about the questionable future of the solar industry.
If we take the time, look a little deeper and put aside the general media. I think we will see a very different picture and one that would suggest the very BEGINNING of “light at the end of the tunnel” and of the potential for investor’s to be a little more optimist at this time.
The General Market
The Dow Jones Industrial Index recently recorded a twelve year low and the media was FULL of doom and gloom. This terrible news was all over the financial press, accompanied by scenarios of more of the same to come. In fact, the recent survey from the American Association of Individual Investors (AAII) had fallen to the most bearish level in history – 70% of those surveyed felt that the direction of the market would be DOWN over the next 6 months.
There are four interesting items below to take note of from an historical perspective. Remember the bottom of a market is ALWAYS, by definition, the period of greatest fear. I have been a student of the market since 1975 and I can assure you that there is plenty of FEAR out there now.
1. The last two times the stock market hit a 12 years low was in 1974 and 1932. BOTH of these times proved to be once in a life time buying opportunities.
2. The previous record of FEAR by the AAII survey (67% bearish) was October of 1990 the very beginning of the great bull market of the 1990’s.
3. Remember corporate earnings and unemployment ALWAYS lag behind the stock market. So well after the market has turned around we will continue to see poor earnings and higher unemployment.
4. The current market is EXTREMELY technically “oversold” (i.e. beneath its 200 day moving average). In fact, it is more technically oversold than any time since 1930, JUST BEFORE the market moved up 48% in the 1930 bear market rally
Nothing is 100% for sure, as we all know. But I think we are either at a significant bottom or very close to it. Everything is so “oversold” at this time, that I think the worst case is that we get a significant rally in what could still be a bear market.
Two other items I think are worthy of note. Last week there were a number of indications that two very significant negatives could be turned to the positive very shortly.
1. The mark to market accounting rule will be modified to reflect “reality”. This will positively impact balance sheets significantly and should positively impact financial institutions especially.
2. The up-tick rule will be re-instated. This will stop short sellers from pushing stocks lower and fanning the flames of panic and fear. Ever since the rule was withdrawn (October 2007) it is OBVIOUS the effect it has had on the market.
Keep in mind that ALL the bad news out there is in media now. We already know all the bad news. Remember that the stock market IS actually a discounting mechanism which looks out 6 to 9 months into the future. We do not need GOOD NEWS to turn the market around, only LESS bad news.
The Solar Stock Market Sector
Solar stocks have also been doing terribly since the second quarter of 2007. Just like the general market, we need to look a little deeper, past the media hype, and see what is actually happening with solar stocks in the market. One of the measures (tools) that I utilize when looking at individual stocks is their 50 day moving average and whether the current price is above (bullish) the 50 day average or below (bearish) the average. It is not the only way to look at stocks and may not be the “best”, but it always seems to give me an idea of which way a stock is heading in the short to medium term and when looking at a specific market sector, what sort of condition that sector is in.
At the current time, 3 of the 35 solar stocks I follow are ABOVE (Bullish) their 50 day moving average. On the other hand 92% of the stocks (32 of 35) are BELOW (Bearish) their 50 day moving average. This clearly tells me to exercise caution in the solar sector and that the sector still needs some time to sort out the recent general market decline and a number of industry specific problems.
To put it a different way, I do not think ALL the bad news regarding the solar sector is out yet and that there will be future negative surprises, such as earnings disappointments (ENER earlier this week for example), inventory write-offs, and possibly even bankruptcies. The solar sector will probably get carried UP when the general market rallies, but since they will have to work out some additional problems; I do not think their rally will be sustainable.
However, if the current project financing “roadblock” suddenly opens up a much more sustainable rally would be possible, especially in the wind sector (i.e. the ETF “FAN” may be a conservative way to play this potential), and the stronger stocks would take the lead.
Numerous opportunities will come, but investor patience will be required to wait out this tough period and for sector volatility to “settle” down. This is still an embryonic industry and it is going through a painful retracement and consolidation phase.
Wall Street Wisdom – A few general lessons I have learned over the years
Assuming the above analysis is reasonably correct, what wisdom and benefits can be gained from this current situation?
1. Markets and stocks ALWAYS get ahead of themselves (in the short term) and subsequently go to extremes in both the up and down directions. I think we are at an unsustainable extreme (down) at this time and that we will get at least a significant rally shortly.
2. When an investor is researching potential investments they must understand that a company needs to be looked at in two ways:
a. As a company with a business and;
b. As a stock, separate from the business of the company
What I mean is that you can have a good company and a bad stock and you cannot “fall in love” with the company, you have to look at both. A perfect example of this is one of the greatest and most respected companies in the world – General Electric. I think it is still a “great” company, but the stock has gone from $42.00 in early 2008 to a low of approximately $6.00 last week – certainly NOT a great stock.
Has General Electric become an unsuccessful company that is going out of business and has no future? I seriously doubt it, but it is an almost perfect example of a good company (with temporary problems) and a stock that is reflecting those problems.
3. The solar industry has a very bright future, for decades to come. However, you have to keep in mind that we are only at the VERY BEGINNING of the industry’s growth. As a result, in addition to enormous opportunities that lie ahead, we will also most likely see above average volatility and more technical failures than successes. This is the way ALL new industries start up, grow and finally emerge. Investors have to be aware of this level of risk (and opportunity) and act appropriately according to their own financial tolerance for risk.
4. Any correction in solar stocks or the market in general can also be turned around and provide an advantage for the patient investor. When a sector or market corrects it generally takes ALL stocks (good and bad) down with it. However, once the correction has run its course the stronger stocks (i.e. those stocks with the highest “relative strength” compared to the general market and to their peer group) will ALWAYS come back to life faster. This is an excellent way for an investor to pick out the stronger companies in the sector and get involved before they have fully recovered.
Rewards come to those investors who are patient and do not follow the crowd
Aspiring investors need to acquire and nurture patience. Historical data clearly shows that more money is made MISSING the downside than catching the upside. As I read my e-mails from readers, I get the feeling that people really want to buy solar stocks and ride them into a bright future. Many times I get the sense that they are afraid, that if they delay, they will miss the chance to profit from the solar industries bright future. This is NOT true. There will be plenty of time and many advances and declines in the future. Be patient, look for the strongest stocks and try not to get swept up in the crowd, because the crowd is always wrong.
J. Peter Lynch
Mr. Lynch has worked, for 32 years as a Wall Street security analyst, an independent security analyst and private investor in small emerging technology companies. He has been actively involved in following developments in the renewable energy sector since 1977 and is regarded as an expert in this field. He was the contributing editor for 17 years to the Photovoltaic Insider Report, the leading publication in PV that was directed at industrial subscribers, such as major energy companies, utilities and governments around the world. He is currently a private investor and has from time to time been a financial/technology consultant to a number of companies. He can be reached via e-mail at: SOLARJPL@aol.com. Please visit his website for the promotion of solar energy – www.sunseries.net
Published at The Investorideas.com Renewable Energy and GreenTech Business and Stock News RSS Feed: Subscribe: http://www.investorideas.com/RSS/feeds/RES.xml
And the Peter Lynch solar RSS feed: http://www.investorideas.com/RSS/feeds/PL.xml
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Disclaimer: The views and opinions expressed in the research published are those of the individual companies and writers and not necessarily those of Investorideas.com® or any of the industry sector portals. At the time of publication, writers may hold positions in the stocks or companies mentioned.
More: www.InvestorIdeas.com/About/Disclaimer.asp
March 17, 2009- Investorideas.com
Renewable and Solar Energy Perspectives with J. Peter Lynch
http://www.renewableenergystocks.com/PL/
Peter Lynch solar RSS feed: http://www.investorideas.com/RSS/feeds/PL.xml
Exclusively for InvestorIdeas.com and Renewableenergystocks.com
The Stock Market in General and Solar Stocks in Particular
As I have said many times over the years solar stocks have a bright future, a very bright future. But investors have to understand a number of things about the current stock market and solar stocks in particular in order to fully take advantage of this long-term trend.
Markets go up and markets go down and these moves usually occur when it is least expected. At the present time solar stocks, the energy industry and the market in general have been in a very serious decline. The Dow Jones is breaking records everyday and the press is full of bearish articles about the market and about the questionable future of the solar industry.
If we take the time, look a little deeper and put aside the general media. I think we will see a very different picture and one that would suggest the very BEGINNING of “light at the end of the tunnel” and of the potential for investor’s to be a little more optimist at this time.
The General Market
The Dow Jones Industrial Index recently recorded a twelve year low and the media was FULL of doom and gloom. This terrible news was all over the financial press, accompanied by scenarios of more of the same to come. In fact, the recent survey from the American Association of Individual Investors (AAII) had fallen to the most bearish level in history – 70% of those surveyed felt that the direction of the market would be DOWN over the next 6 months.
There are four interesting items below to take note of from an historical perspective. Remember the bottom of a market is ALWAYS, by definition, the period of greatest fear. I have been a student of the market since 1975 and I can assure you that there is plenty of FEAR out there now.
1. The last two times the stock market hit a 12 years low was in 1974 and 1932. BOTH of these times proved to be once in a life time buying opportunities.
2. The previous record of FEAR by the AAII survey (67% bearish) was October of 1990 the very beginning of the great bull market of the 1990’s.
3. Remember corporate earnings and unemployment ALWAYS lag behind the stock market. So well after the market has turned around we will continue to see poor earnings and higher unemployment.
4. The current market is EXTREMELY technically “oversold” (i.e. beneath its 200 day moving average). In fact, it is more technically oversold than any time since 1930, JUST BEFORE the market moved up 48% in the 1930 bear market rally
Nothing is 100% for sure, as we all know. But I think we are either at a significant bottom or very close to it. Everything is so “oversold” at this time, that I think the worst case is that we get a significant rally in what could still be a bear market.
Two other items I think are worthy of note. Last week there were a number of indications that two very significant negatives could be turned to the positive very shortly.
1. The mark to market accounting rule will be modified to reflect “reality”. This will positively impact balance sheets significantly and should positively impact financial institutions especially.
2. The up-tick rule will be re-instated. This will stop short sellers from pushing stocks lower and fanning the flames of panic and fear. Ever since the rule was withdrawn (October 2007) it is OBVIOUS the effect it has had on the market.
Keep in mind that ALL the bad news out there is in media now. We already know all the bad news. Remember that the stock market IS actually a discounting mechanism which looks out 6 to 9 months into the future. We do not need GOOD NEWS to turn the market around, only LESS bad news.
The Solar Stock Market Sector
Solar stocks have also been doing terribly since the second quarter of 2007. Just like the general market, we need to look a little deeper, past the media hype, and see what is actually happening with solar stocks in the market. One of the measures (tools) that I utilize when looking at individual stocks is their 50 day moving average and whether the current price is above (bullish) the 50 day average or below (bearish) the average. It is not the only way to look at stocks and may not be the “best”, but it always seems to give me an idea of which way a stock is heading in the short to medium term and when looking at a specific market sector, what sort of condition that sector is in.
At the current time, 3 of the 35 solar stocks I follow are ABOVE (Bullish) their 50 day moving average. On the other hand 92% of the stocks (32 of 35) are BELOW (Bearish) their 50 day moving average. This clearly tells me to exercise caution in the solar sector and that the sector still needs some time to sort out the recent general market decline and a number of industry specific problems.
To put it a different way, I do not think ALL the bad news regarding the solar sector is out yet and that there will be future negative surprises, such as earnings disappointments (ENER earlier this week for example), inventory write-offs, and possibly even bankruptcies. The solar sector will probably get carried UP when the general market rallies, but since they will have to work out some additional problems; I do not think their rally will be sustainable.
However, if the current project financing “roadblock” suddenly opens up a much more sustainable rally would be possible, especially in the wind sector (i.e. the ETF “FAN” may be a conservative way to play this potential), and the stronger stocks would take the lead.
Numerous opportunities will come, but investor patience will be required to wait out this tough period and for sector volatility to “settle” down. This is still an embryonic industry and it is going through a painful retracement and consolidation phase.
Wall Street Wisdom – A few general lessons I have learned over the years
Assuming the above analysis is reasonably correct, what wisdom and benefits can be gained from this current situation?
1. Markets and stocks ALWAYS get ahead of themselves (in the short term) and subsequently go to extremes in both the up and down directions. I think we are at an unsustainable extreme (down) at this time and that we will get at least a significant rally shortly.
2. When an investor is researching potential investments they must understand that a company needs to be looked at in two ways:
a. As a company with a business and;
b. As a stock, separate from the business of the company
What I mean is that you can have a good company and a bad stock and you cannot “fall in love” with the company, you have to look at both. A perfect example of this is one of the greatest and most respected companies in the world – General Electric. I think it is still a “great” company, but the stock has gone from $42.00 in early 2008 to a low of approximately $6.00 last week – certainly NOT a great stock.
Has General Electric become an unsuccessful company that is going out of business and has no future? I seriously doubt it, but it is an almost perfect example of a good company (with temporary problems) and a stock that is reflecting those problems.
3. The solar industry has a very bright future, for decades to come. However, you have to keep in mind that we are only at the VERY BEGINNING of the industry’s growth. As a result, in addition to enormous opportunities that lie ahead, we will also most likely see above average volatility and more technical failures than successes. This is the way ALL new industries start up, grow and finally emerge. Investors have to be aware of this level of risk (and opportunity) and act appropriately according to their own financial tolerance for risk.
4. Any correction in solar stocks or the market in general can also be turned around and provide an advantage for the patient investor. When a sector or market corrects it generally takes ALL stocks (good and bad) down with it. However, once the correction has run its course the stronger stocks (i.e. those stocks with the highest “relative strength” compared to the general market and to their peer group) will ALWAYS come back to life faster. This is an excellent way for an investor to pick out the stronger companies in the sector and get involved before they have fully recovered.
Rewards come to those investors who are patient and do not follow the crowd
Aspiring investors need to acquire and nurture patience. Historical data clearly shows that more money is made MISSING the downside than catching the upside. As I read my e-mails from readers, I get the feeling that people really want to buy solar stocks and ride them into a bright future. Many times I get the sense that they are afraid, that if they delay, they will miss the chance to profit from the solar industries bright future. This is NOT true. There will be plenty of time and many advances and declines in the future. Be patient, look for the strongest stocks and try not to get swept up in the crowd, because the crowd is always wrong.
J. Peter Lynch
Mr. Lynch has worked, for 32 years as a Wall Street security analyst, an independent security analyst and private investor in small emerging technology companies. He has been actively involved in following developments in the renewable energy sector since 1977 and is regarded as an expert in this field. He was the contributing editor for 17 years to the Photovoltaic Insider Report, the leading publication in PV that was directed at industrial subscribers, such as major energy companies, utilities and governments around the world. He is currently a private investor and has from time to time been a financial/technology consultant to a number of companies. He can be reached via e-mail at: SOLARJPL@aol.com. Please visit his website for the promotion of solar energy – www.sunseries.net
Published at The Investorideas.com Renewable Energy and GreenTech Business and Stock News RSS Feed: Subscribe: http://www.investorideas.com/RSS/feeds/RES.xml
And the Peter Lynch solar RSS feed: http://www.investorideas.com/RSS/feeds/PL.xml
Renewable Energy Stocks Directory - Investor Ideas Membership
Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and the complete renewable energy stocks directory and water stocks directory.
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About InvestorIdeas.com: Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates! We cover multiple industry sectors but specialize in environmental and water.
Disclaimer: The views and opinions expressed in the research published are those of the individual companies and writers and not necessarily those of Investorideas.com® or any of the industry sector portals. At the time of publication, writers may hold positions in the stocks or companies mentioned.
More: www.InvestorIdeas.com/About/Disclaimer.asp
OREGON-BASED PLASTICS RECYCLER FIRST IN NATION TO RECLAIM SYNTHETIC CRUDE OIL FROM UNWANTED PLASTIC
OREGON-BASED PLASTICS RECYCLER FIRST IN NATION TO RECLAIM SYNTHETIC CRUDE OIL FROM UNWANTED PLASTIC
Agri-Plas ships first batches of crude oil to refinery
BROOKS, Ore. (March 17, 2009) ― In the latest showing of Oregon’s entrepreneurial and environmental prowess, Agri-Plas, an Oregon-based plastics recycler, is the first company in the nation to convert unwanted and typically unrecyclable agricultural plastics into crude oil and ship it to a refinery for commercial processing.
“The fact that Agri-Plas has been able to take plastic that would otherwise go directly into the waste stream and convert it into a commercial product that can eventually be pumped into a gas tank is truly groundbreaking,” said Tim McCabe, director of the Oregon Economic & Community Development Department.
Agri-Plas is now taking discarded and unwanted plastic that chokes landfills or is abandoned, burned or buried on Northwest farms and nurseries and is converting it back into synthetic crude oil. Plastic products include dirty agricultural film, greenhouse cover, mixed nursery and jug material, prepackaged food containers and lids, and other low- or zero-value plastics too dirty to economically bring to a higher value through normal recycling efforts. The company recently delivered its first full tanker (8,200 gallons) of oil to a refinery in Tacoma, Wash., which translates to a final delivery of 196 barrels of oil.
“The state of Oregon has been a key player in helping us bring this process to market,” said Mary Sue Gilliland, vice president operations and business development for Agri-Plas. “We hope that with financial assistance from the Oregon Business Energy Tax Credit (BETC) we will be able to jumpstart construction of a new facility that will allow the company to increase crude oil production.”
The state of Oregon has made it a top priority to recruit and foster the growth of sustainability oriented businesses through a variety of financial mechanisms such as BETC, which covers up to 50 percent of a qualifying project’s applicable costs.
Agri-Plas is gearing up to deliver its second shipment of crude oil this month. The company is currently testing technology developed by Plas2Fuel, a Kelso, Washington alternative energy company, that created the unique process of converting plastic into high-value, synthetic crude oil. Agri-Plas is planning to expand its operations within the next several months. Within the next year, Agri-Plas hopes to create up to 58 new green-collar jobs at its headquarters in Brooks, Ore.
The synthetic crude oil that Agri-Plas is reclaiming from unwanted plastic can be refined for a variety of uses. The oil can be refined and used in literally thousands of high-end products ranging from makeup to food items, as well as gasoline, diesel, lubricants and other petroleum-based products.
Today, Agri-Plas is operating one plastic-to-oil converting unit. The company soon expects to add three more units, which will create one full system and will operate this venture under the name of Agri-Plas2Crude. In April of 2009, Agri-Plas2Crude plans to break ground on a new facility, which will eventually house a total of five, four-unit Plas2Fuel reclamation systems. In total, the 20 units will create enough reclaimed crude oil to deliver a full tanker for refining every single day. Oregon will once again lead the nation in recycling efforts and solutions for the agriculture community.
About Brooks, Oregon
Brooks is conveniently located just 10 miles south of Salem, the capital of Oregon, and 40 miles south of Portland, with easy access to the state’s main transportation route, Interstate 5. Brooks falls within Marion County, which has a population of 311,304 and boasts a wide array of businesses from world-class wineries to high-technology manufacturers.
Published at the InvestorIdeas.com Global Online Marketplace: Connecting Investors and Business
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Agri-Plas ships first batches of crude oil to refinery
BROOKS, Ore. (March 17, 2009) ― In the latest showing of Oregon’s entrepreneurial and environmental prowess, Agri-Plas, an Oregon-based plastics recycler, is the first company in the nation to convert unwanted and typically unrecyclable agricultural plastics into crude oil and ship it to a refinery for commercial processing.
“The fact that Agri-Plas has been able to take plastic that would otherwise go directly into the waste stream and convert it into a commercial product that can eventually be pumped into a gas tank is truly groundbreaking,” said Tim McCabe, director of the Oregon Economic & Community Development Department.
Agri-Plas is now taking discarded and unwanted plastic that chokes landfills or is abandoned, burned or buried on Northwest farms and nurseries and is converting it back into synthetic crude oil. Plastic products include dirty agricultural film, greenhouse cover, mixed nursery and jug material, prepackaged food containers and lids, and other low- or zero-value plastics too dirty to economically bring to a higher value through normal recycling efforts. The company recently delivered its first full tanker (8,200 gallons) of oil to a refinery in Tacoma, Wash., which translates to a final delivery of 196 barrels of oil.
“The state of Oregon has been a key player in helping us bring this process to market,” said Mary Sue Gilliland, vice president operations and business development for Agri-Plas. “We hope that with financial assistance from the Oregon Business Energy Tax Credit (BETC) we will be able to jumpstart construction of a new facility that will allow the company to increase crude oil production.”
The state of Oregon has made it a top priority to recruit and foster the growth of sustainability oriented businesses through a variety of financial mechanisms such as BETC, which covers up to 50 percent of a qualifying project’s applicable costs.
Agri-Plas is gearing up to deliver its second shipment of crude oil this month. The company is currently testing technology developed by Plas2Fuel, a Kelso, Washington alternative energy company, that created the unique process of converting plastic into high-value, synthetic crude oil. Agri-Plas is planning to expand its operations within the next several months. Within the next year, Agri-Plas hopes to create up to 58 new green-collar jobs at its headquarters in Brooks, Ore.
The synthetic crude oil that Agri-Plas is reclaiming from unwanted plastic can be refined for a variety of uses. The oil can be refined and used in literally thousands of high-end products ranging from makeup to food items, as well as gasoline, diesel, lubricants and other petroleum-based products.
Today, Agri-Plas is operating one plastic-to-oil converting unit. The company soon expects to add three more units, which will create one full system and will operate this venture under the name of Agri-Plas2Crude. In April of 2009, Agri-Plas2Crude plans to break ground on a new facility, which will eventually house a total of five, four-unit Plas2Fuel reclamation systems. In total, the 20 units will create enough reclaimed crude oil to deliver a full tanker for refining every single day. Oregon will once again lead the nation in recycling efforts and solutions for the agriculture community.
About Brooks, Oregon
Brooks is conveniently located just 10 miles south of Salem, the capital of Oregon, and 40 miles south of Portland, with easy access to the state’s main transportation route, Interstate 5. Brooks falls within Marion County, which has a population of 311,304 and boasts a wide array of businesses from world-class wineries to high-technology manufacturers.
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Thursday, March 12, 2009
Green Investor at Investorideas.com; How Will Solar PV Businesses Benefit From The New Incentives?
Green Investor at Investorideas.com; How Will Solar PV Businesses Benefit From The New Incentives?
Potential Impact on Solar Stocks First Solar (FSLR), Sunpower (SPWRA), Evergreen Solar (ESLR), Spire (SPIR), SunTech (STP) and XsunX (OTCBB: XSNX)
March 12, 2009, Point Roberts, WA -Green Investor at Investorideas.com reports on how Solar PV businesses may benefit from the new incentives.
Green Investor at Investorideas.com
http://www.investorideas.com/gi/ Paulo J. Nery
Solar stocks have taken a major beating in the past few months. The Claymore MAC Global Solar Energy Index ETF (TAN) has fallen 78% in the past six months. Most listed solar companies have fallen from 50% to 87% over that period. Since all renewable energy stocks are intrinsically tied to oil prices I am tempted to lay the blame on the oil markets which have fallen hard. The US Oil Index (USO) is down a mere 67% in the same period, though, only a few weeks ago it hit a low of 22.80, and that was 72% down from the same baseline. So perhaps they’re in the same ballpark.
Price declines for solar stocks over the past 6 months:
· First Solar (FSLR) down 51%
· Sunpower (SPWRA) down 73%
· Evergreen Solar (ESLR) down 86%
· Spire (SPIR) down 53%
· SunTech (STP) down 87%
At the same time, prices of solar modules have fallen which could hurt some manufacturer margins. One of the causes of this fall was Spain’s reduction of its solar subsidies. But this could be good news for buyers of solar modules who can now start picking up some bargains, possibly lifting demand again. As the market adage goes, “there’s no cure for low prices like low prices.”
A bright spark however, is the newly passed economic stimulus bill which should start boosting demand once again. With the extension of the Federal 30% tax credit and the removal of the $2000 cap, home owners will see the price of solar PV get much more affordable. For instance, last year a homeowner buying a 3 kilowatt system costing $28,500 might have paid $19,000 after the tax incentives, but this year it will cost about $13,000 based on California’s incentives and the newly uncapped Federal tax credit. Of course the incentive requires you to have a tax liability to offset, and rising unemployment may well diminish the residential market.
And, for commercial developers of solar facilities the new bill has provisions that would allow them to take the 30% tax credit as a grant instead.
The President’s “New Energy For America” plan calls for 10% of US electricity to come from renewable sources by 2012, then 25 per cent by 2025. That’s a doubling in just three years. The President has pledged to spend $15 billion per year over the next 10 years to stimulate private clean energy investments in solar power, wind power, biofuels and more efficient vehicles.
The new plans also call for:
* $30 billion for improving energy efficiency, which includes smart grid and battery technology
* $29 billion for modernizing roads and bridges
* $18 billion for clean water, flood control, and environmental restoration investments
* $8.4 billion for investments in transit, and $8 billion for investment in high-speed rail
* $7 billion for extending broadband services to underserved communities across the country
Another factor slowing down solar project development is tight credit. The economic downturn has certainly put pressure on clean energy funding, like everything else. But according to a recent survey conducted by New Energy Finance, out of the 106 institutional investors that took part in the study, about 50 percent plan to increase their exposure to the clean energy sector. These institutional investors like pension, banking and insurance funds hold $1 trillion in managed assets. One leading Swiss private bank, Bank Sarasin, told Reuters last week that they saw renewed opportunity in the US. Matthias Fawer, vice president of sustainable investment at the bank said, "Now with the stimulus package and the slowdown in Europe, especially in the Spanish solar market, we are moving to U.S. stocks." Yet another investor, Mitsubishi Corp. said on March 5th, that it plans to invest more in renewable energy, particularly solar power projects. It will invest in solar panels, solar parks and stocks.
So could this represent a bottom for the sector? And if so how should one pick the right companies to invest in?
First, the company's liquidity position and balance sheet need to be strong enough to carry it through this downturn. Look at sales growth and cash less any short-term debt for a measure of how much a company has to operate for the coming year. Today any companies that show growth can be considered strong. Also look for market leaders and companies with unique value propositions to set them apart.
Some of the companies best positioned to ride out the challenges of this year are the big market leading companies with adequate cash in hand. US manufacturer First Solar (FSLR) is one of these companies. Notice how their stock price collapse is far less than any of the other solar companies. First Solar also benefits because its panels are made from cheaper cadmium telluride rather than silicon. Also look at the other second generation solar companies I mentioned in my article of Jan 6, 2009. But even First Solar said last week that it would begin reducing prices on some of its panels to keep its competitive edge when it enters new markets.
Other well positioned companies include SunPower Corp, (SPWRA) because its highly-efficient modules command a price premium. Now that SunPower also installs the systems they have the maneuverability to adjust their margins between the different parts of the business.
Also look at Energy Conversion Devices (ENER), makers of Uni-Solar amorphous silicone panels. They were the innovators of lightweight flexible roll out modules that can be directly adhered to roof tops, also known as building integrated PV.
Suntech (STP) too has bought into the installation and finance business since its acquisition last October of El Solutions, and its joint venture with MMA Renewable Ventures called Gemini Solar Development. Gemini plans to finance, develop and operate solar power plants of 10 megawatts or more.
XsunX (OTCBB: XSNX) is another thin film innovator using amorphous silicon who, while at an earlier stage, shows promise. The company’s dual layer amorphous thin film design is cheaper to make and out performs other technologies in most climates. In a recent comparative study the company’s module design was shown to deliver the lowest levelized cost of all solar photovoltaic cell technologies. They have so far gained sales contracts for 19 MW deliverable through 2010. And they recently announced a prudent decision to reduce the capacity of their planned manufacturing facility in Oregon to approximately 13 MW which closely matches their commitments and saves the company roughly 25 million.
Despite the general weakness of the solar power sector, many analysts are saying there is great growth potential - just not very soon given the overcapacity, weak economy and difficulty in gaining funding. However, I’m looking for the escalating grass roots demand to lower greenhouse gas emissions and shift away from foreign fossil fuels to drive solar stocks along with other clean tech stocks higher once more. And the bounce could be very strong when it comes.
Paulo J. Nery
Disclosure: Paulo Nery does not currently own shares of any of the companies named above.
Disclaimer: Nothing in the above article in no way constitutes a recommendation to buy or invest in these or any other stocks. You should always seek professional financial advice when planning your investments or trading in the stock markets.
Featured Showcase Solar Stock:
XsunX Inc. : (OTCBB: XSNX) 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/
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/
About Our Green Investor Portals:
http://www.RenewableEnergyStocks.com is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, and a directory of stocks.
Disclaimer: Paulo Nery is an independent columnist for Green Investor at Investorideas.com .Paulo J. Nery writes about green business, green investing and green lifestyle. www.InvestorIdeas.com/About/Disclaimer.asp. InvestorIdeas is not affiliated or compensated by the companies mentioned in this article.
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. XSNX is a featured company. Compensation disclosure for XSNX:
http://www.investorideas.com/About/News/Clientspecifics.asp
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com
Source: Investorideas.com, XsunX
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.
Member sign-up- http://www.investorideas.com/membership/
Potential Impact on Solar Stocks First Solar (FSLR), Sunpower (SPWRA), Evergreen Solar (ESLR), Spire (SPIR), SunTech (STP) and XsunX (OTCBB: XSNX)
March 12, 2009, Point Roberts, WA -Green Investor at Investorideas.com reports on how Solar PV businesses may benefit from the new incentives.
Green Investor at Investorideas.com
http://www.investorideas.com/gi/ Paulo J. Nery
Solar stocks have taken a major beating in the past few months. The Claymore MAC Global Solar Energy Index ETF (TAN) has fallen 78% in the past six months. Most listed solar companies have fallen from 50% to 87% over that period. Since all renewable energy stocks are intrinsically tied to oil prices I am tempted to lay the blame on the oil markets which have fallen hard. The US Oil Index (USO) is down a mere 67% in the same period, though, only a few weeks ago it hit a low of 22.80, and that was 72% down from the same baseline. So perhaps they’re in the same ballpark.
Price declines for solar stocks over the past 6 months:
· First Solar (FSLR) down 51%
· Sunpower (SPWRA) down 73%
· Evergreen Solar (ESLR) down 86%
· Spire (SPIR) down 53%
· SunTech (STP) down 87%
At the same time, prices of solar modules have fallen which could hurt some manufacturer margins. One of the causes of this fall was Spain’s reduction of its solar subsidies. But this could be good news for buyers of solar modules who can now start picking up some bargains, possibly lifting demand again. As the market adage goes, “there’s no cure for low prices like low prices.”
A bright spark however, is the newly passed economic stimulus bill which should start boosting demand once again. With the extension of the Federal 30% tax credit and the removal of the $2000 cap, home owners will see the price of solar PV get much more affordable. For instance, last year a homeowner buying a 3 kilowatt system costing $28,500 might have paid $19,000 after the tax incentives, but this year it will cost about $13,000 based on California’s incentives and the newly uncapped Federal tax credit. Of course the incentive requires you to have a tax liability to offset, and rising unemployment may well diminish the residential market.
And, for commercial developers of solar facilities the new bill has provisions that would allow them to take the 30% tax credit as a grant instead.
The President’s “New Energy For America” plan calls for 10% of US electricity to come from renewable sources by 2012, then 25 per cent by 2025. That’s a doubling in just three years. The President has pledged to spend $15 billion per year over the next 10 years to stimulate private clean energy investments in solar power, wind power, biofuels and more efficient vehicles.
The new plans also call for:
* $30 billion for improving energy efficiency, which includes smart grid and battery technology
* $29 billion for modernizing roads and bridges
* $18 billion for clean water, flood control, and environmental restoration investments
* $8.4 billion for investments in transit, and $8 billion for investment in high-speed rail
* $7 billion for extending broadband services to underserved communities across the country
Another factor slowing down solar project development is tight credit. The economic downturn has certainly put pressure on clean energy funding, like everything else. But according to a recent survey conducted by New Energy Finance, out of the 106 institutional investors that took part in the study, about 50 percent plan to increase their exposure to the clean energy sector. These institutional investors like pension, banking and insurance funds hold $1 trillion in managed assets. One leading Swiss private bank, Bank Sarasin, told Reuters last week that they saw renewed opportunity in the US. Matthias Fawer, vice president of sustainable investment at the bank said, "Now with the stimulus package and the slowdown in Europe, especially in the Spanish solar market, we are moving to U.S. stocks." Yet another investor, Mitsubishi Corp. said on March 5th, that it plans to invest more in renewable energy, particularly solar power projects. It will invest in solar panels, solar parks and stocks.
So could this represent a bottom for the sector? And if so how should one pick the right companies to invest in?
First, the company's liquidity position and balance sheet need to be strong enough to carry it through this downturn. Look at sales growth and cash less any short-term debt for a measure of how much a company has to operate for the coming year. Today any companies that show growth can be considered strong. Also look for market leaders and companies with unique value propositions to set them apart.
Some of the companies best positioned to ride out the challenges of this year are the big market leading companies with adequate cash in hand. US manufacturer First Solar (FSLR) is one of these companies. Notice how their stock price collapse is far less than any of the other solar companies. First Solar also benefits because its panels are made from cheaper cadmium telluride rather than silicon. Also look at the other second generation solar companies I mentioned in my article of Jan 6, 2009. But even First Solar said last week that it would begin reducing prices on some of its panels to keep its competitive edge when it enters new markets.
Other well positioned companies include SunPower Corp, (SPWRA) because its highly-efficient modules command a price premium. Now that SunPower also installs the systems they have the maneuverability to adjust their margins between the different parts of the business.
Also look at Energy Conversion Devices (ENER), makers of Uni-Solar amorphous silicone panels. They were the innovators of lightweight flexible roll out modules that can be directly adhered to roof tops, also known as building integrated PV.
Suntech (STP) too has bought into the installation and finance business since its acquisition last October of El Solutions, and its joint venture with MMA Renewable Ventures called Gemini Solar Development. Gemini plans to finance, develop and operate solar power plants of 10 megawatts or more.
XsunX (OTCBB: XSNX) is another thin film innovator using amorphous silicon who, while at an earlier stage, shows promise. The company’s dual layer amorphous thin film design is cheaper to make and out performs other technologies in most climates. In a recent comparative study the company’s module design was shown to deliver the lowest levelized cost of all solar photovoltaic cell technologies. They have so far gained sales contracts for 19 MW deliverable through 2010. And they recently announced a prudent decision to reduce the capacity of their planned manufacturing facility in Oregon to approximately 13 MW which closely matches their commitments and saves the company roughly 25 million.
Despite the general weakness of the solar power sector, many analysts are saying there is great growth potential - just not very soon given the overcapacity, weak economy and difficulty in gaining funding. However, I’m looking for the escalating grass roots demand to lower greenhouse gas emissions and shift away from foreign fossil fuels to drive solar stocks along with other clean tech stocks higher once more. And the bounce could be very strong when it comes.
Paulo J. Nery
Disclosure: Paulo Nery does not currently own shares of any of the companies named above.
Disclaimer: Nothing in the above article in no way constitutes a recommendation to buy or invest in these or any other stocks. You should always seek professional financial advice when planning your investments or trading in the stock markets.
Featured Showcase Solar Stock:
XsunX Inc. : (OTCBB: XSNX) 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/
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/
About Our Green Investor Portals:
http://www.RenewableEnergyStocks.com is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, and a directory of stocks.
Disclaimer: Paulo Nery is an independent columnist for Green Investor at Investorideas.com .Paulo J. Nery writes about green business, green investing and green lifestyle. www.InvestorIdeas.com/About/Disclaimer.asp. InvestorIdeas is not affiliated or compensated by the companies mentioned in this article.
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. XSNX is a featured company. Compensation disclosure for XSNX:
http://www.investorideas.com/About/News/Clientspecifics.asp
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com
Source: Investorideas.com, XsunX
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.
Member sign-up- http://www.investorideas.com/membership/
Tuesday, March 10, 2009
SCHOTT Solar AG confirms figures for fiscal 2008 and continues its expansion
SCHOTT Solar AG confirms figures for fiscal 2008 and continues its expansion
• Anniversary year closed with record result
• Production capacity expanded significantly in both divisions
• Business remains stable in first quarter of current fiscal year
March 10, 2009 (Mainz, Germany) – SCHOTT Solar AG closed the fiscal year 2007/08 with the best result in the company’s history. During its 50th anniversary year, the company clearly improved all relevant financial figures and significantly expanded the production capacity in the Concentrated Solar Power (CSP) segment and the Photovoltaics (PV) segment. For the first quarter of the current fiscal year, SCHOTT Solar AG has reported stable business and the start-up of additional production lines.
"We are highly satisfied with the past fiscal year, as we have reached important milestones of our ambitious expansion plans in both segments, while at the same time achieving a sustainable increase in profitability," said Chief Executive Officer Dr. Martin Heming.
In the fiscal year 2007/2008 (1 October 2007 to 30 September 2008), SCHOTT Solar AG reported an impressive 70% increase in sales to EUR 482 million (previous year: EUR 283 million*). At the same time, earnings before interest and taxes (EBIT) improved noticeably to EUR 52 million (previous year: EUR 9 million*). The production capacity of both segments was expanded as planned in the past fiscal year. The capacity of the Photovoltaics segment increased to 205 MW for modules (previous year: 93 MW), while the capacity of the Concentrated Solar Power segment was expanded to 400 MWel (previous year: 200 MWel). The company invested EUR 141 million in property, plant and equipment and intangible assets (previous year: EUR 88 million). As at 30 September 2008, the company employed 1,650 people worldwide (previous year: 1,037 people).
SCHOTT Solar AG envisages to boost production capacity further through the start-up and ramp up of additional production lines in both segments by the end of the fiscal year. The capacity of the Photovoltaics segment is scheduled to reach a total of 360 MW, with 1 GWel planned for the Concentrated Solar Power segment.
Based on the first-quarter results, SCHOTT Solar AG projects strong sales and earnings growth for fiscal 2008/2009. In the past weeks, however, the industry environment has become increasingly challenging and it is difficult to project the overall performance of the solar industry in 2009 not least due to the financial and economic crisis.
* The comparative FY 2006/2007 figures reflect a restatement of SCHOTT Solar AG’s profit and loss account, balance sheet and cash flow statement to the effect that SCHOTT Solar CSP GmbH is shown as a SCHOTT Solar AG subsidiary already as from the beginning of FY 2006/2007 instead of the actual economic effect from 1 October 2007. The Concentrated Solar Power division operated through SCHOTT Solar CSP GmbH and its Spanish subsidiary became part of SCHOTT Solar only in the FY 2007/2008, namely with economic effect from 1 October 2007.
* * * *
Number of characters: 2,487 incl. spaces
More information on the Internet under www.schottsolar.de
Press pictures can be downloaded at www.schott-pictures.net
SCHOTT Solar’s high quality products exploit the virtually inexhaustible potential of the sun as a renewable source of energy. For this purpose SCHOTT Solar produces important components for photovoltaic applications and solar energy plants with parabolic trough technology. In the photovoltaic industry, the company is one of the few integrated manufacturers of crystalline silicon wafers, solar cells and photovoltaic modules. Wafer production is mainly carried out through a WACKER SCHOTT Solar joint venture, which ensures the supply of silicon necessary for long-term growth. Thanks to over 20 years of experience in thin-film technology, SCHOTT Solar also regards itself as one of the industry’s cutting-edge companies. In receiver production for solar power plants with parabolic trough technology, SCHOTT Solar considers itself to be the market and technology leader. The receivers are key components in large-scale power plants that generate electricity from solar energy centrally on the basis of parabolic trough technology and can supply entire cities with power. SCHOTT Solar has production facilities in Germany, the Czech Republic, the USA and Spain. SCHOTT Solar’s innovative power and technological expertise date back to the late 1950s. SCHOTT Solar AG is a wholly owned subsidiary of the international SCHOTT technology group. SCHOTT develops special materials, components and systems for the household appliance, pharmaceutical, solar energy, electronics, optical and automotive industries. With around 17,300 employees, the SCHOTT Group generated a worldwide turnover of EUR 2.2 billion in fiscal year 2007/2008.
Contact:
SCHOTT Solar AG SCHOTT Solar AG
Lars Waldmann Burkhard Söhngen
Press and Public Relations Investor Relations
Tel: +49 (0)6023 - 91 1811 Tel: +49 (0)6023 – 91 1819
Fax: +49 (0)6023 - 91 1700 Fax: +49 (0)6023 - 91 1700
lars.waldmann@schottsolar.com burkhard.soehngen@schottsolar.com
www.schottsolar.de www.schottsolar.de
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.
Member sign-up- http://www.investorideas.com/membership/
• Anniversary year closed with record result
• Production capacity expanded significantly in both divisions
• Business remains stable in first quarter of current fiscal year
March 10, 2009 (Mainz, Germany) – SCHOTT Solar AG closed the fiscal year 2007/08 with the best result in the company’s history. During its 50th anniversary year, the company clearly improved all relevant financial figures and significantly expanded the production capacity in the Concentrated Solar Power (CSP) segment and the Photovoltaics (PV) segment. For the first quarter of the current fiscal year, SCHOTT Solar AG has reported stable business and the start-up of additional production lines.
"We are highly satisfied with the past fiscal year, as we have reached important milestones of our ambitious expansion plans in both segments, while at the same time achieving a sustainable increase in profitability," said Chief Executive Officer Dr. Martin Heming.
In the fiscal year 2007/2008 (1 October 2007 to 30 September 2008), SCHOTT Solar AG reported an impressive 70% increase in sales to EUR 482 million (previous year: EUR 283 million*). At the same time, earnings before interest and taxes (EBIT) improved noticeably to EUR 52 million (previous year: EUR 9 million*). The production capacity of both segments was expanded as planned in the past fiscal year. The capacity of the Photovoltaics segment increased to 205 MW for modules (previous year: 93 MW), while the capacity of the Concentrated Solar Power segment was expanded to 400 MWel (previous year: 200 MWel). The company invested EUR 141 million in property, plant and equipment and intangible assets (previous year: EUR 88 million). As at 30 September 2008, the company employed 1,650 people worldwide (previous year: 1,037 people).
SCHOTT Solar AG envisages to boost production capacity further through the start-up and ramp up of additional production lines in both segments by the end of the fiscal year. The capacity of the Photovoltaics segment is scheduled to reach a total of 360 MW, with 1 GWel planned for the Concentrated Solar Power segment.
Based on the first-quarter results, SCHOTT Solar AG projects strong sales and earnings growth for fiscal 2008/2009. In the past weeks, however, the industry environment has become increasingly challenging and it is difficult to project the overall performance of the solar industry in 2009 not least due to the financial and economic crisis.
* The comparative FY 2006/2007 figures reflect a restatement of SCHOTT Solar AG’s profit and loss account, balance sheet and cash flow statement to the effect that SCHOTT Solar CSP GmbH is shown as a SCHOTT Solar AG subsidiary already as from the beginning of FY 2006/2007 instead of the actual economic effect from 1 October 2007. The Concentrated Solar Power division operated through SCHOTT Solar CSP GmbH and its Spanish subsidiary became part of SCHOTT Solar only in the FY 2007/2008, namely with economic effect from 1 October 2007.
* * * *
Number of characters: 2,487 incl. spaces
More information on the Internet under www.schottsolar.de
Press pictures can be downloaded at www.schott-pictures.net
SCHOTT Solar’s high quality products exploit the virtually inexhaustible potential of the sun as a renewable source of energy. For this purpose SCHOTT Solar produces important components for photovoltaic applications and solar energy plants with parabolic trough technology. In the photovoltaic industry, the company is one of the few integrated manufacturers of crystalline silicon wafers, solar cells and photovoltaic modules. Wafer production is mainly carried out through a WACKER SCHOTT Solar joint venture, which ensures the supply of silicon necessary for long-term growth. Thanks to over 20 years of experience in thin-film technology, SCHOTT Solar also regards itself as one of the industry’s cutting-edge companies. In receiver production for solar power plants with parabolic trough technology, SCHOTT Solar considers itself to be the market and technology leader. The receivers are key components in large-scale power plants that generate electricity from solar energy centrally on the basis of parabolic trough technology and can supply entire cities with power. SCHOTT Solar has production facilities in Germany, the Czech Republic, the USA and Spain. SCHOTT Solar’s innovative power and technological expertise date back to the late 1950s. SCHOTT Solar AG is a wholly owned subsidiary of the international SCHOTT technology group. SCHOTT develops special materials, components and systems for the household appliance, pharmaceutical, solar energy, electronics, optical and automotive industries. With around 17,300 employees, the SCHOTT Group generated a worldwide turnover of EUR 2.2 billion in fiscal year 2007/2008.
Contact:
SCHOTT Solar AG SCHOTT Solar AG
Lars Waldmann Burkhard Söhngen
Press and Public Relations Investor Relations
Tel: +49 (0)6023 - 91 1811 Tel: +49 (0)6023 – 91 1819
Fax: +49 (0)6023 - 91 1700 Fax: +49 (0)6023 - 91 1700
lars.waldmann@schottsolar.com burkhard.soehngen@schottsolar.com
www.schottsolar.de www.schottsolar.de
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.
Member sign-up- http://www.investorideas.com/membership/
Monday, March 09, 2009
U.S. Environmental Protection Agency Awards $21M Contract to ICF International ICF to Support U.S. EPA’s Health Risk Assessment Efforts
U.S. Environmental Protection Agency Awards $21M Contract to ICF International ICF to Support U.S. EPA’s Health Risk Assessment Efforts
FAIRFAX, Va.--Marsch 9 2009 --ICF Incorporated, LLC, a subsidiary of ICF International (NASDAQ:ICFI), announced today that it won a new contract with the U.S. Environmental Protection Agency’s (EPA) National Center for Environmental Assessment (NCEA). The five-year agreement, which started in February 2009, is valued at up to $21.0 million.
As EPA’s resource center for human health and ecological risk assessment, NCEA serves to bridge the agency’s research and regulatory functions. Under the contract, ICF will support NCEA’s efforts to conduct risk assessments on chemicals, chemical mixtures, microorganisms, and other environmental stressors. As part of that support, ICF will assist NCEA in developing state-of-the-art methods, models, databases, and guidance documents for human health risk assessment. Specific tasks include analyzing toxicological data; evaluating human exposures; conducting statistical analyses and modeling; conducting risk assessment studies; reviewing research and developing documentation to assess EPA's National Ambient Air Quality Standards; and developing software and documentation for risk assessment databases and computer tools.
“The ICF Team offers the ideal combination of internationally recognized experts, proven management practices, and a large staff of credentialed scientists, all of which provide NCEA with ready access to a wide variety of risk assessment capabilities,” stated John Cowdery, senior vice president for Environment, Planning, & Infrastructure. “We are pleased to have this opportunity to extend our long-term relationship of providing risk assessment support to EPA and look forward to bringing new energy and perspectives to help NCEA accomplish its mission.”
About ICF International
ICF International (NASDAQ:ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, climate change, environment, transportation, social programs, health, defense, and emergency management markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 3,000 employees serve these clients worldwide. ICF’s Web site is www.icfi.com.
Caution Concerning Forward-looking Statements
This document may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995—that is, statements related to future—not past—events, plans, and prospects. These statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “guidance,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “seek,” “should,” “will,” “would,” or similar words. You should read statements that contain these words carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position, or state other forward-looking information, and are subject to factors that could cause actual results to differ materially from those anticipated. For ICF, particular uncertainties that could adversely or positively affect the Company’s future results include but are not limited to: risks related to the government contracting industry, including the timely approval of government budgets, changes in client spending priorities, and the results of government audits and investigations; risks related to our business, including our dependence on contracts with U.S. Federal Government agencies and departments and the State of Louisiana; continued good relations with these and other customers; success in competitive bidding on recompete and new contracts; performance by ICF and its subcontractors under our contract with the State of Louisiana, Office of Community Development, including but not limited to the risks of failure to achieve certain levels of program activities, termination, or material modification of the contract, and political uncertainties relating to The Road Home program; uncertainties as to whether revenues corresponding to the Company’s contract backlog will actually be received; the future of the energy and air transportation sectors of the global economy; our ability to attract and retain management and staff; strategic actions, including attempts to expand our service offerings and client base, the ability to make acquisitions, and the performance and future integration of acquired businesses; risks associated with operations outside the United States, including but not limited to international, regional, and national economic conditions, including the effects of terrorist activities, war, and currency fluctuations; and other risks and uncertainties disclosed in the Company’s filings with the Securities and Exchange Commission. These uncertainties may cause ICF’s actual future results to be materially different than those expressed in the Company’s forward-looking statements. ICF does not undertake to update its forward-looking statements.
Contacts ICF InternationalLindsey Litton, +1.571.265.1472llitton@icfi.com
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FAIRFAX, Va.--Marsch 9 2009 --ICF Incorporated, LLC, a subsidiary of ICF International (NASDAQ:ICFI), announced today that it won a new contract with the U.S. Environmental Protection Agency’s (EPA) National Center for Environmental Assessment (NCEA). The five-year agreement, which started in February 2009, is valued at up to $21.0 million.
As EPA’s resource center for human health and ecological risk assessment, NCEA serves to bridge the agency’s research and regulatory functions. Under the contract, ICF will support NCEA’s efforts to conduct risk assessments on chemicals, chemical mixtures, microorganisms, and other environmental stressors. As part of that support, ICF will assist NCEA in developing state-of-the-art methods, models, databases, and guidance documents for human health risk assessment. Specific tasks include analyzing toxicological data; evaluating human exposures; conducting statistical analyses and modeling; conducting risk assessment studies; reviewing research and developing documentation to assess EPA's National Ambient Air Quality Standards; and developing software and documentation for risk assessment databases and computer tools.
“The ICF Team offers the ideal combination of internationally recognized experts, proven management practices, and a large staff of credentialed scientists, all of which provide NCEA with ready access to a wide variety of risk assessment capabilities,” stated John Cowdery, senior vice president for Environment, Planning, & Infrastructure. “We are pleased to have this opportunity to extend our long-term relationship of providing risk assessment support to EPA and look forward to bringing new energy and perspectives to help NCEA accomplish its mission.”
About ICF International
ICF International (NASDAQ:ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, climate change, environment, transportation, social programs, health, defense, and emergency management markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 3,000 employees serve these clients worldwide. ICF’s Web site is www.icfi.com.
Caution Concerning Forward-looking Statements
This document may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995—that is, statements related to future—not past—events, plans, and prospects. These statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “guidance,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “seek,” “should,” “will,” “would,” or similar words. You should read statements that contain these words carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position, or state other forward-looking information, and are subject to factors that could cause actual results to differ materially from those anticipated. For ICF, particular uncertainties that could adversely or positively affect the Company’s future results include but are not limited to: risks related to the government contracting industry, including the timely approval of government budgets, changes in client spending priorities, and the results of government audits and investigations; risks related to our business, including our dependence on contracts with U.S. Federal Government agencies and departments and the State of Louisiana; continued good relations with these and other customers; success in competitive bidding on recompete and new contracts; performance by ICF and its subcontractors under our contract with the State of Louisiana, Office of Community Development, including but not limited to the risks of failure to achieve certain levels of program activities, termination, or material modification of the contract, and political uncertainties relating to The Road Home program; uncertainties as to whether revenues corresponding to the Company’s contract backlog will actually be received; the future of the energy and air transportation sectors of the global economy; our ability to attract and retain management and staff; strategic actions, including attempts to expand our service offerings and client base, the ability to make acquisitions, and the performance and future integration of acquired businesses; risks associated with operations outside the United States, including but not limited to international, regional, and national economic conditions, including the effects of terrorist activities, war, and currency fluctuations; and other risks and uncertainties disclosed in the Company’s filings with the Securities and Exchange Commission. These uncertainties may cause ICF’s actual future results to be materially different than those expressed in the Company’s forward-looking statements. ICF does not undertake to update its forward-looking statements.
Contacts ICF InternationalLindsey Litton, +1.571.265.1472llitton@icfi.com
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Saturday, March 07, 2009
Government of Canada Investing in Green, Clean Economy Sustainable Development Technology Canada Funds 16 New Projects
Government of Canada Investing in Green, Clean Economy Sustainable Development Technology Canada Funds 16 New Projects
March. 6, 2009
The Canadian economy became cleaner today as 16 new projects that develop and demonstrate emerging clean technologies were awarded $53 million. The announcement, confirming the decision of the Board of Directors of Sustainable Development Technology Canada (SDTC), was made today by the Honourable Lisa Raitt, Minister of Natural Resources and Vicky Sharpe, SDTC's President and CEO.
"It's especially important now for this government to support clean technologies such as these that provide opportunities for economic growth while offering innovative solutions to help tackle climate change," said the Honourable Lisa Raitt, Minister of Natural Resources. "Our government is working to accelerate key investments in Canada's infrastructure in order to create jobs and help stimulate our economy."
"The investments of federal funding that we are announcing today also demonstrate the Government of Canada's action to help protect the jobs of today while readying our economy to create the jobs of tomorrow," added the Honourable Minister Prentice, Minister of the Environment. "Federal funding for Sustainable Development Technology Canada also demonstrates our commitment to the development of science and technology applications that offer the potential to improve environmental quality, human health and economic growth."
The promising Canadian clean technology projects included in this funding round offer technological solutions to the challenges Canada is currently facing in strengthening the economy while responding to environmental issues. These innovations can be used in multiple major economic sectors ranging from power generation to agriculture and waste management.
"The projects we are adding to our portfolio this round have great potential and they can really make a difference to the lives of Canadians," said SDTC Chairman Juergen Puetter. "SDTC's financial support will help them get through the development and demonstration stages, paving their path to commercialization so that the environmental and economic benefits they bring can be enjoyed by all."
The breadth of technologies and the cross-country representation of this funding round addresses multiple sectors of the Canadian economy. For example:
Clean energy production using a process that will facilitate the complex production of lignocellulosic ethanol while reducing the amount of energy required. This process will be integrated into an existing ethanol facility on a pre-commercial, pilot scale using corn cobs - the non-food residuals from harvesting corn - as the feedstock.
There are several advanced technology projects applicable to the forestry, wood products, and pulp and paper product industries coming from BC and Ontario. One converts forest waste into a more usable bio-carbon for energy production while the other uses sophisticated processes to create a biolatex binder for paperboard manufacturing which is potentially superior to the petrochemical alternative.
The agricultural community needs ways to reduce costs and environmental impacts which, in this example, can be achieved using a disruption nano-technology platform for delivery of agricultural chemicals in food production.
An energy-efficient building technology that has the potential to cut home heating costs by 10% while simultaneously improving indoor air quality.
These new investments bring SDTC's total portfolio value to over $1.3 billion. SDTC's SD Tech Fund(TM) has completed thirteen funding rounds, committing $376 million to 154 clean technology projects, and leveraging $905 million from project consortia members. These figures include adjustments made to the portfolio.
"Clean technologies provide us the necessary tools to green our economy," said SDTC President and CEO Vicky Sharpe. "Increasing the amount of clean technologies that are developed, demonstrated and ultimately commercialized here in Canada is the key to a vibrant and sustainable Canadian economy."
The newly funded projects are representative of the investment priorities established in the SD Business Cases(TM), a series of five reports published by SDTC and which provide strategic insights into specific economic sectors, including clean conventional fuels, biofuels and commercial buildings.
SDTC launched its latest call for Statements of Interest (SOI) for the SD Tech Fund on February 25, 2009. Applicants with projects that bring technological solutions which fall under the investment priorities established in the SD Business Cases(TM) (available in the Knowledge Centre section of the SDTC website at www.sdtc.ca) or that address climate change, clean air, clean water and clean soil issues are encouraged to apply. Solutions that address more than one focus area are of greatest interest.
About SDTC
SDTC is an arm's-length foundation which has received $1.05 billion from the Government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund(TM) supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund(TM) supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.
Detailed information on the 16 projects, including their descriptions, can be found at www.sdtc.ca .
Round 13 Funded Projects:
1. Lead organization: Alterna Energy Inc., Prince George, British Columbia
Economic Sector: Forestry, Wood Products and Pulp & Paper Products
2. Lead organization: A.U.G. Signals Ltd., Toronto, Ontario
Economic Sector: Energy Utilization
3. Lead Organization: dPoint Technologies Inc., Vancouver, British Columbia
Economic Sector: Energy Utilization
4. Lead organization: ECOSYNTHETIX Inc., Milton, Ontario
Economic Sector: Forestry, Wood Products and Pulp & Paper Products
5. Lead organization: General Fusion Inc., Burnaby, British Columbia
Economic Sector: Power Generation
6. Lead organization: Greenfield Ethanol Inc., Toronto, Ontario
Economic Sector: Energy Exploration and Production
7. Lead organization: Innovente inc., St-Ferreol-les-Neiges, Quebec
Economic Sector: Waste Management
8. Lead organization: Integran Technologies Inc., Toronto, Ontario
Economic Sector: Energy Utilization
9. Lead organization: Nexterra Energy Corp., Vancouver, British Columbia
Economic Sector: Power Generation
10. Lead organization: Paragon Soil and Environmental Consulting Inc., Edmonton Alberta
Economic Sector: Agriculture
11. Lead organization: Performance Plants Inc., Kingston, Ontario
Economic Sector: Agriculture
12. Lead Organization: REGEN Energy Inc., Toronto, Ontario
Economic Sector: Energy Utilization
13. Lead organization: SunCentral Inc., Vancouver, British Columbia
Economic Sector: Energy Utilization
14. Lead organization: SyncWave Systems Inc., Pemberton, British Columbia
Economic Sector: Power Generation
15. Lead organization: TROPE DesignResearch Ltd., Halifax, Nova Scotia
Economic Sector: Energy Utilization
16. Lead organization: Vive Nano, Toronto, Ontario
Economic Sector: Energy Utilization
Contacts:Media Relations:SDTCPatrice BretonDirector, Communications613-234-6313 x295p.breton@sdtc.ca
Natural Resources Canada - OttawaOffice of the MinisterJasmine MacDonnellPress Secretary613-996-2007
Application Process:SDTCSebastien Prince-RichardManager, Applications613-234-6313 x232applications@sdtc.ca
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March. 6, 2009
The Canadian economy became cleaner today as 16 new projects that develop and demonstrate emerging clean technologies were awarded $53 million. The announcement, confirming the decision of the Board of Directors of Sustainable Development Technology Canada (SDTC), was made today by the Honourable Lisa Raitt, Minister of Natural Resources and Vicky Sharpe, SDTC's President and CEO.
"It's especially important now for this government to support clean technologies such as these that provide opportunities for economic growth while offering innovative solutions to help tackle climate change," said the Honourable Lisa Raitt, Minister of Natural Resources. "Our government is working to accelerate key investments in Canada's infrastructure in order to create jobs and help stimulate our economy."
"The investments of federal funding that we are announcing today also demonstrate the Government of Canada's action to help protect the jobs of today while readying our economy to create the jobs of tomorrow," added the Honourable Minister Prentice, Minister of the Environment. "Federal funding for Sustainable Development Technology Canada also demonstrates our commitment to the development of science and technology applications that offer the potential to improve environmental quality, human health and economic growth."
The promising Canadian clean technology projects included in this funding round offer technological solutions to the challenges Canada is currently facing in strengthening the economy while responding to environmental issues. These innovations can be used in multiple major economic sectors ranging from power generation to agriculture and waste management.
"The projects we are adding to our portfolio this round have great potential and they can really make a difference to the lives of Canadians," said SDTC Chairman Juergen Puetter. "SDTC's financial support will help them get through the development and demonstration stages, paving their path to commercialization so that the environmental and economic benefits they bring can be enjoyed by all."
The breadth of technologies and the cross-country representation of this funding round addresses multiple sectors of the Canadian economy. For example:
Clean energy production using a process that will facilitate the complex production of lignocellulosic ethanol while reducing the amount of energy required. This process will be integrated into an existing ethanol facility on a pre-commercial, pilot scale using corn cobs - the non-food residuals from harvesting corn - as the feedstock.
There are several advanced technology projects applicable to the forestry, wood products, and pulp and paper product industries coming from BC and Ontario. One converts forest waste into a more usable bio-carbon for energy production while the other uses sophisticated processes to create a biolatex binder for paperboard manufacturing which is potentially superior to the petrochemical alternative.
The agricultural community needs ways to reduce costs and environmental impacts which, in this example, can be achieved using a disruption nano-technology platform for delivery of agricultural chemicals in food production.
An energy-efficient building technology that has the potential to cut home heating costs by 10% while simultaneously improving indoor air quality.
These new investments bring SDTC's total portfolio value to over $1.3 billion. SDTC's SD Tech Fund(TM) has completed thirteen funding rounds, committing $376 million to 154 clean technology projects, and leveraging $905 million from project consortia members. These figures include adjustments made to the portfolio.
"Clean technologies provide us the necessary tools to green our economy," said SDTC President and CEO Vicky Sharpe. "Increasing the amount of clean technologies that are developed, demonstrated and ultimately commercialized here in Canada is the key to a vibrant and sustainable Canadian economy."
The newly funded projects are representative of the investment priorities established in the SD Business Cases(TM), a series of five reports published by SDTC and which provide strategic insights into specific economic sectors, including clean conventional fuels, biofuels and commercial buildings.
SDTC launched its latest call for Statements of Interest (SOI) for the SD Tech Fund on February 25, 2009. Applicants with projects that bring technological solutions which fall under the investment priorities established in the SD Business Cases(TM) (available in the Knowledge Centre section of the SDTC website at www.sdtc.ca) or that address climate change, clean air, clean water and clean soil issues are encouraged to apply. Solutions that address more than one focus area are of greatest interest.
About SDTC
SDTC is an arm's-length foundation which has received $1.05 billion from the Government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund(TM) supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund(TM) supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.
Detailed information on the 16 projects, including their descriptions, can be found at www.sdtc.ca .
Round 13 Funded Projects:
1. Lead organization: Alterna Energy Inc., Prince George, British Columbia
Economic Sector: Forestry, Wood Products and Pulp & Paper Products
2. Lead organization: A.U.G. Signals Ltd., Toronto, Ontario
Economic Sector: Energy Utilization
3. Lead Organization: dPoint Technologies Inc., Vancouver, British Columbia
Economic Sector: Energy Utilization
4. Lead organization: ECOSYNTHETIX Inc., Milton, Ontario
Economic Sector: Forestry, Wood Products and Pulp & Paper Products
5. Lead organization: General Fusion Inc., Burnaby, British Columbia
Economic Sector: Power Generation
6. Lead organization: Greenfield Ethanol Inc., Toronto, Ontario
Economic Sector: Energy Exploration and Production
7. Lead organization: Innovente inc., St-Ferreol-les-Neiges, Quebec
Economic Sector: Waste Management
8. Lead organization: Integran Technologies Inc., Toronto, Ontario
Economic Sector: Energy Utilization
9. Lead organization: Nexterra Energy Corp., Vancouver, British Columbia
Economic Sector: Power Generation
10. Lead organization: Paragon Soil and Environmental Consulting Inc., Edmonton Alberta
Economic Sector: Agriculture
11. Lead organization: Performance Plants Inc., Kingston, Ontario
Economic Sector: Agriculture
12. Lead Organization: REGEN Energy Inc., Toronto, Ontario
Economic Sector: Energy Utilization
13. Lead organization: SunCentral Inc., Vancouver, British Columbia
Economic Sector: Energy Utilization
14. Lead organization: SyncWave Systems Inc., Pemberton, British Columbia
Economic Sector: Power Generation
15. Lead organization: TROPE DesignResearch Ltd., Halifax, Nova Scotia
Economic Sector: Energy Utilization
16. Lead organization: Vive Nano, Toronto, Ontario
Economic Sector: Energy Utilization
Contacts:Media Relations:SDTCPatrice BretonDirector, Communications613-234-6313 x295p.breton@sdtc.ca
Natural Resources Canada - OttawaOffice of the MinisterJasmine MacDonnellPress Secretary613-996-2007
Application Process:SDTCSebastien Prince-RichardManager, Applications613-234-6313 x232applications@sdtc.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.
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Friday, March 06, 2009
Ernst & Young and New Energy Finance Form Relationship to Strengthen Their Offering in the Clean Energy and Clean Technology Markets
Ernst & Young and New Energy Finance Form Relationship to Strengthen Their Offering in the Clean Energy and Clean Technology Markets
Data and sponsorship deal announced at second annual New Energy Finance Summit
LONDON March -Ernst & Young and New Energy Finance announced that they have formed a new business relationship that will strengthen their offering to the clean energy and clean technology markets. New Energy Finance is the leading provider of clean energy industry information and analysis to investors, corporations and governments relating to renewable energy and low carbon technologies. The two organizations will work together with the common goal of providing fresh and valuable content that will support and advance the global clean energy and clean technology markets.
Gil Forer, Ernst & Young’s Global Director of Cleantech, IPO and Venture Capital Initiatives, comments: “Reaching the next stage of cleantech industry development, especially in current economic conditions, will depend on an unprecedented level of collaboration between companies, investors, governments and professional groups. By joining forces, Ernst & Young and New Energy Finance will broaden and deepen the range of data, insights and industry strategic events available to support the cleantech community as it moves to the next level.
“This relationship supports Ernst & Young’s wider commitment to helping corporations make the transformational changes needed to mitigate and adapt to the adverse affects of climate change through our range of climate change and sustainability services. We are also committed to helping innovative cleantech companies on their journey from emerging to global market leaders.”
Ernst & Young’s business relationship with New Energy Finance consists of data, sponsorship and knowledge sharing components. Benefits to the clean energy and clean technology markets include:
Broader data. By regularly sharing market insights both parties will be able to broaden and deepen the range of data and insights available to the clean energy and clean technology markets. Insights will focus on clean energy as it relates to venture capital, private equity, corporate investments and project finance. Easier access to data and viewpoints. New Energy Finance data will be disseminated via established Ernst & Young publications, news releases and webcasts. Ernst & Young’s news releases and publications will also be available at www.newenergyfinance.com. Wider range of industry convening events. Ernst & Young will support New Energy Finance’s series of strategic events as the Professional Services Partner of the New Energy Finance Summit (London, March 4-6) and their Food For Thought program (FFT) which includes 15 issue-based roundtable discussions across the world. New Energy Finance will support Ernst & Young’s various strategic clean energy events including the insight-based Ignition roundtable discussions. "This partnership brings together two world-class organizations with complementary resources and a shared commitment to clean energy industry excellence. Particularly in this economy, New Energy Finance’s approach is to work with the best global partners to assist our respective clients in accessing a wider pool of resource,” noted Michael Liebreich, New Energy Finance Chairman and CEO.
About New Energy Finance
New Energy Finance’s goal is to help clients create value through their activities in clean energy and the carbon markets. To this end it delivers a range of services including news and newsletters, investment data, subscription-based research, advisory services and events. The sectors it covers include all areas of renewable energy, energy efficiency, hydrogen and fuel cells, nuclear power, carbon capture and sequestration, water, the carbon markets and associated services.
Founded in 2004, the company has 125 staff, based in its London headquarters and 10 offices around Europe, North and South America, Asia and Africa. It has four offices in the US: New York leads on US carbon market research and is the North American head office; Washington leads on energy research; Palo Alto leads on technology; San Francisco is the West Coast commercial hub. Cape Town, South Africa, is the company’s off-shore data centre. Other major offices include São Paulo, Beijing, Hyderabad, Perth and Tel Aviv.
Ernst & Young’s Cleantech global initiative
Ernst & Young works with companies, large and small, new and established, and in any industry as they transform their businesses in response to the challenges of climate change. We also work around the globe with the emerging cleantech market leaders, from alternative and renewable energy companies to energy efficiency and water solutions companies. Ernst & Young is also committed to fostering dialogue among large corporations, innovative emerging cleantech growth companies, investors and other stakeholders. We hope to make a difference by being a proactive player in the common effort to overcome the climate change challenges we face.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visit www.ey.com.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.
Contacts Ernst & Young Global PRFerne Hudson, +44 20 7980 0848ferne.hudson@uk.ey.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.
Member sign-up- http://www.investorideas.com/membership/
Data and sponsorship deal announced at second annual New Energy Finance Summit
LONDON March -Ernst & Young and New Energy Finance announced that they have formed a new business relationship that will strengthen their offering to the clean energy and clean technology markets. New Energy Finance is the leading provider of clean energy industry information and analysis to investors, corporations and governments relating to renewable energy and low carbon technologies. The two organizations will work together with the common goal of providing fresh and valuable content that will support and advance the global clean energy and clean technology markets.
Gil Forer, Ernst & Young’s Global Director of Cleantech, IPO and Venture Capital Initiatives, comments: “Reaching the next stage of cleantech industry development, especially in current economic conditions, will depend on an unprecedented level of collaboration between companies, investors, governments and professional groups. By joining forces, Ernst & Young and New Energy Finance will broaden and deepen the range of data, insights and industry strategic events available to support the cleantech community as it moves to the next level.
“This relationship supports Ernst & Young’s wider commitment to helping corporations make the transformational changes needed to mitigate and adapt to the adverse affects of climate change through our range of climate change and sustainability services. We are also committed to helping innovative cleantech companies on their journey from emerging to global market leaders.”
Ernst & Young’s business relationship with New Energy Finance consists of data, sponsorship and knowledge sharing components. Benefits to the clean energy and clean technology markets include:
Broader data. By regularly sharing market insights both parties will be able to broaden and deepen the range of data and insights available to the clean energy and clean technology markets. Insights will focus on clean energy as it relates to venture capital, private equity, corporate investments and project finance. Easier access to data and viewpoints. New Energy Finance data will be disseminated via established Ernst & Young publications, news releases and webcasts. Ernst & Young’s news releases and publications will also be available at www.newenergyfinance.com. Wider range of industry convening events. Ernst & Young will support New Energy Finance’s series of strategic events as the Professional Services Partner of the New Energy Finance Summit (London, March 4-6) and their Food For Thought program (FFT) which includes 15 issue-based roundtable discussions across the world. New Energy Finance will support Ernst & Young’s various strategic clean energy events including the insight-based Ignition roundtable discussions. "This partnership brings together two world-class organizations with complementary resources and a shared commitment to clean energy industry excellence. Particularly in this economy, New Energy Finance’s approach is to work with the best global partners to assist our respective clients in accessing a wider pool of resource,” noted Michael Liebreich, New Energy Finance Chairman and CEO.
About New Energy Finance
New Energy Finance’s goal is to help clients create value through their activities in clean energy and the carbon markets. To this end it delivers a range of services including news and newsletters, investment data, subscription-based research, advisory services and events. The sectors it covers include all areas of renewable energy, energy efficiency, hydrogen and fuel cells, nuclear power, carbon capture and sequestration, water, the carbon markets and associated services.
Founded in 2004, the company has 125 staff, based in its London headquarters and 10 offices around Europe, North and South America, Asia and Africa. It has four offices in the US: New York leads on US carbon market research and is the North American head office; Washington leads on energy research; Palo Alto leads on technology; San Francisco is the West Coast commercial hub. Cape Town, South Africa, is the company’s off-shore data centre. Other major offices include São Paulo, Beijing, Hyderabad, Perth and Tel Aviv.
Ernst & Young’s Cleantech global initiative
Ernst & Young works with companies, large and small, new and established, and in any industry as they transform their businesses in response to the challenges of climate change. We also work around the globe with the emerging cleantech market leaders, from alternative and renewable energy companies to energy efficiency and water solutions companies. Ernst & Young is also committed to fostering dialogue among large corporations, innovative emerging cleantech growth companies, investors and other stakeholders. We hope to make a difference by being a proactive player in the common effort to overcome the climate change challenges we face.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visit www.ey.com.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.
Contacts Ernst & Young Global PRFerne Hudson, +44 20 7980 0848ferne.hudson@uk.ey.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.
Member sign-up- http://www.investorideas.com/membership/
Thursday, March 05, 2009
DOE Announces Investment of up to $84 Million in Geothermal Energy
DOE Announces Investment of up to $84 Million in Geothermal Energy
WASHINGTON – U.S. Department of Energy Secretary Steven Chu today announced the release of two Funding Opportunity Announcements (FOAs) for up to $84 million to support the development of Enhanced Geothermal Systems (EGS). Geothermal energy technologies use energy from the earth to heat buildings and generate electricity. Enhanced Geothermal Systems offer the potential to extend geothermal resources to larger areas of the western United States, as well as into new geographic areas of the entire country. These projects will help support the Administration’s efforts to invest in clean energy technologies, create millions of new jobs, end our addiction to foreign oil, and address climate change.
“President Obama has laid out an ambitious agenda to put millions of people to work by investing in clean energy technology like geothermal energy,” said Secretary Chu. “The Administration is committed to funding important research like this to transform the way we use and produce energy and reduce our dangerous dependence on foreign oil.”
Conventional geothermal energy systems must be located near easily-accessible geothermal water resources, limiting its nationwide use. EGS technology would allow power generation in a broad variety of geographic locations. EGS makes use of available geothermal resources to heat engineered reservoirs, which can then be tapped to produce electricity.
The FOAs will explore two specific areas: component research and development/analysis; and support for EGS demonstration projects.
The first FOA seeks advanced technology to address important aspects of engineered geothermal reservoir creation, management, and utilization. DOE anticipates making 20 to 30 awards for a total value of up to $35 million under this FOA, based on annual appropriations. Proposals will be evaluated based on their applicability to the program’s multi-year research, development, and demonstration plan; level of technical innovation; and ability to introduce new technologies into the marketplace. Research teams comprised of academia, industry, or both are expected to apply. The FOA can be found on Grants.gov.
In addition, DOE will continue its partnership with the geothermal community to support field demonstrations of EGS technologies. The second FOA seeks domestic projects in a variety of geologic formations that will quantitatively demonstrate and validate reservoir creation techniques that sustain sufficient fluid flow and heat extraction rates for 5-7 years and that produce at least 5 MWe per year per project. DOE anticipates making 5 to 10 awards under this announcement for up to $49 million, based on annual appropriations. Applicants eligible to apply include institutions of higher education, non-profit entities, for-profit private entities, State/Local Governments, and Indian tribes. The FOA can be found also be found on Grants.gov.
For each of the Financial Opportunity Announcements, DOE and non-DOE Federally Funded Research and Development Centers (FFRDCs), National Laboratories, and federal agencies will be allowed as subcontractors only with any of the previously mentioned entities.
Learn more information about the U.S. Department of Energy’s Geothermal Technologies Program.
Media contact(s):(202) 586-4940
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WASHINGTON – U.S. Department of Energy Secretary Steven Chu today announced the release of two Funding Opportunity Announcements (FOAs) for up to $84 million to support the development of Enhanced Geothermal Systems (EGS). Geothermal energy technologies use energy from the earth to heat buildings and generate electricity. Enhanced Geothermal Systems offer the potential to extend geothermal resources to larger areas of the western United States, as well as into new geographic areas of the entire country. These projects will help support the Administration’s efforts to invest in clean energy technologies, create millions of new jobs, end our addiction to foreign oil, and address climate change.
“President Obama has laid out an ambitious agenda to put millions of people to work by investing in clean energy technology like geothermal energy,” said Secretary Chu. “The Administration is committed to funding important research like this to transform the way we use and produce energy and reduce our dangerous dependence on foreign oil.”
Conventional geothermal energy systems must be located near easily-accessible geothermal water resources, limiting its nationwide use. EGS technology would allow power generation in a broad variety of geographic locations. EGS makes use of available geothermal resources to heat engineered reservoirs, which can then be tapped to produce electricity.
The FOAs will explore two specific areas: component research and development/analysis; and support for EGS demonstration projects.
The first FOA seeks advanced technology to address important aspects of engineered geothermal reservoir creation, management, and utilization. DOE anticipates making 20 to 30 awards for a total value of up to $35 million under this FOA, based on annual appropriations. Proposals will be evaluated based on their applicability to the program’s multi-year research, development, and demonstration plan; level of technical innovation; and ability to introduce new technologies into the marketplace. Research teams comprised of academia, industry, or both are expected to apply. The FOA can be found on Grants.gov.
In addition, DOE will continue its partnership with the geothermal community to support field demonstrations of EGS technologies. The second FOA seeks domestic projects in a variety of geologic formations that will quantitatively demonstrate and validate reservoir creation techniques that sustain sufficient fluid flow and heat extraction rates for 5-7 years and that produce at least 5 MWe per year per project. DOE anticipates making 5 to 10 awards under this announcement for up to $49 million, based on annual appropriations. Applicants eligible to apply include institutions of higher education, non-profit entities, for-profit private entities, State/Local Governments, and Indian tribes. The FOA can be found also be found on Grants.gov.
For each of the Financial Opportunity Announcements, DOE and non-DOE Federally Funded Research and Development Centers (FFRDCs), National Laboratories, and federal agencies will be allowed as subcontractors only with any of the previously mentioned entities.
Learn more information about the U.S. Department of Energy’s Geothermal Technologies Program.
Media contact(s):(202) 586-4940
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.
Member sign-up- http://www.investorideas.com/membership/
Sunday, March 01, 2009
Renewable Energy Accelerates Meteoric Rise
Renewable Energy Accelerates Meteoric Rise
2007 Global Status Report Shows Perceptions Lag Reality REN21 Renewables 2007 Global Status Report
Paris, 27 February 2008 – The renewable energy industry is stepping up its meteoric rise into the mainstream of the energy sector, according to the REN21 Renewables 2007 Global Status Report. Renewable energy production capacities are growing rapidly as a result of more countries enacting far-reaching policies.
Prepared by the Renewable Energy Network for the 21st Century (REN21) in collaboration with the Worldwatch Institute, the Renewables 2007 Global Status Report paints an encouraging picture of rapidly expanding renewable energy markets, policies, industries, and rural applications around the world. In 2007, global wind generating capacity is estimated to have increased 28 percent, while grid-connected solar photovoltaic (PV) capacity rose 52 percent.
"So much has happened in the renewable energy sector during the past five years that the perceptions of some politicians and energy-sector analysts lag far behind the reality of where the renewables industry is today," says Mohamed El-Ashry, Chair of REN21.
Renowned researcher Dr. Eric Martinot led an international team of 140 researchers and contributors from both developed and developing countries to produce the report. He says renewable energy sources such as wind, solar, geothermal, and small-scale hydropower offer countries the means to improve their energy security and spur economic development.
Citing the report, Martinot says the renewable energy sector now accounts for 2.4 million jobs globally, and has doubled electric generating capacity since 2004, to 240 gigawatts. More than 65 countries now have national goals for accelerating the use of renewable energy and are enacting far-reaching policies to meet those goals. Multilateral agencies and private investors alike are integrating renewable energy into their mainstream portfolios, capturing the interest of the largest global companies.
Worldwatch President Chris Flavin says the report shows that renewable energy is poised to make a significant contribution to meeting energy needs and reducing the growth in carbon dioxide emissions in the years immediately ahead. “The science is telling us we need to substantially reduce emissions now, but this will only happen with even stronger policies to accelerate the growth of clean energy," he says.
El-Ashry emphasizes that many of the trends described in the Renewables 2007 Global Status Report are the result of leadership and actions launched since the major renewable energy conference held in Bonn, Germany, in 2004. "This leadership has never been more important, as renewable energy has now reached the top of the international policy agenda under the United Nations and the G8," said El-Ashry.
Commenting on the dramatic rise of renewables, Achim Steiner, UN Under-Secretary General and Executive Director of the UN Environment Programme (UNEP), said: "The findings come in the wake of UNEP’s annual gathering of environment ministers in Monaco last week. It is clear from ministers in Monaco and from reports like REN21 that we are beginning to see elements of an emerging Green Economy, fueled by the existing climate change agreements and the prospect of even deeper and more decisive emissions reductions post 2012."
The Renewables 2007 Global Status Report is being released ahead of the Washington International Renewable Energy Conference (WIREC), taking place March 4–6 in Washington, D.C. WIREC will be the third such international conference following those in Bonn in 2004 and Beijing in 2005.
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2007 Global Status Report Shows Perceptions Lag Reality REN21 Renewables 2007 Global Status Report
Paris, 27 February 2008 – The renewable energy industry is stepping up its meteoric rise into the mainstream of the energy sector, according to the REN21 Renewables 2007 Global Status Report. Renewable energy production capacities are growing rapidly as a result of more countries enacting far-reaching policies.
Prepared by the Renewable Energy Network for the 21st Century (REN21) in collaboration with the Worldwatch Institute, the Renewables 2007 Global Status Report paints an encouraging picture of rapidly expanding renewable energy markets, policies, industries, and rural applications around the world. In 2007, global wind generating capacity is estimated to have increased 28 percent, while grid-connected solar photovoltaic (PV) capacity rose 52 percent.
"So much has happened in the renewable energy sector during the past five years that the perceptions of some politicians and energy-sector analysts lag far behind the reality of where the renewables industry is today," says Mohamed El-Ashry, Chair of REN21.
Renowned researcher Dr. Eric Martinot led an international team of 140 researchers and contributors from both developed and developing countries to produce the report. He says renewable energy sources such as wind, solar, geothermal, and small-scale hydropower offer countries the means to improve their energy security and spur economic development.
Citing the report, Martinot says the renewable energy sector now accounts for 2.4 million jobs globally, and has doubled electric generating capacity since 2004, to 240 gigawatts. More than 65 countries now have national goals for accelerating the use of renewable energy and are enacting far-reaching policies to meet those goals. Multilateral agencies and private investors alike are integrating renewable energy into their mainstream portfolios, capturing the interest of the largest global companies.
Worldwatch President Chris Flavin says the report shows that renewable energy is poised to make a significant contribution to meeting energy needs and reducing the growth in carbon dioxide emissions in the years immediately ahead. “The science is telling us we need to substantially reduce emissions now, but this will only happen with even stronger policies to accelerate the growth of clean energy," he says.
El-Ashry emphasizes that many of the trends described in the Renewables 2007 Global Status Report are the result of leadership and actions launched since the major renewable energy conference held in Bonn, Germany, in 2004. "This leadership has never been more important, as renewable energy has now reached the top of the international policy agenda under the United Nations and the G8," said El-Ashry.
Commenting on the dramatic rise of renewables, Achim Steiner, UN Under-Secretary General and Executive Director of the UN Environment Programme (UNEP), said: "The findings come in the wake of UNEP’s annual gathering of environment ministers in Monaco last week. It is clear from ministers in Monaco and from reports like REN21 that we are beginning to see elements of an emerging Green Economy, fueled by the existing climate change agreements and the prospect of even deeper and more decisive emissions reductions post 2012."
The Renewables 2007 Global Status Report is being released ahead of the Washington International Renewable Energy Conference (WIREC), taking place March 4–6 in Washington, D.C. WIREC will be the third such international conference following those in Bonn in 2004 and Beijing in 2005.
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.
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Friday, February 27, 2009
Companies Across U.S. Poised for Growth Under Cap on Carbon
Companies Across U.S. Poised for Growth Under Cap on Carbon
Online Map Unveiled at Vice Presidential Task Force Profiles 1,200 Companies in Manufacturing States, Demonstrates Potential for Massive Jobs Expansion to Build Climate Solutions
PHILADELPHIA--February 27 2009 --Environmental Defense Fund today released a groundbreaking online map that identifies and profiles more than 1,200 companies in key manufacturing states poised to grow their business and create new jobs when Congress passes a cap on global warming pollution.
The interactive map, online at LessCarbonMoreJobs.org, was released at the first meeting of Vice President Joe Biden's task force on middle class jobs in Philadelphia. It highlights hundreds of companies and communities in coal country, the rust belt and other manufacturing regions poised to benefit from demand for clean energy technologies created by a cap on carbon.
Vice President Biden hosted EDF President Fred Krupp and a range of experts to highlight new ways to increase renewable energy jobs and improve America's energy efficiency. Krupp said EDF's map shows that a carbon cap will create new markets and new customers for companies in the supply chain for low-carbon energy technologies and services.
“Our nation is rich with a skilled and dedicated workforce waiting for the economic opportunity that comes with a cap on carbon, especially in the current economy,” said Krupp. “A cap creates customers for U.S. manufacturers, and new customers mean new jobs. If there was ever a time we needed new customers at home and abroad, that time is now.”
LessCarbonMoreJobs.org identifies the locations, products, and services as well as select case studies and worker profiles for companies in 12 states: Michigan, Ohio, Pennsylvania, Indiana, New Hampshire, Arkansas, Tennessee, Colorado, Georgia, Missouri, Virginia and Florida.
Jackie Roberts, Director of Sustainable Technologies for EDF, spearheaded the research behind the website. “These maps tell the story of how a cap can fuel economic growth in the heartland while reducing America's global warming pollution,” Roberts said. “There is a manufacturing boom ready to happen, and a cap will help ignite that spark.”
LessCarbonMoreJobs.org allows visitors to search by state, Congressional district and media market to find companies manufacturing windmill components, shipping solar panel equipment and installing energy efficient building materials. The site also provides business details and contact information for companies in each profiled state.
Among the business leaders highlighted is Jeff Metts, owner and president of Dowding Industries, a Michigan-based manufacturer of large-scale machinery and parts that is hiring laid-off auto workers to build wind turbine components.
“This business is growing exponentially,” Metts said. “I don't come here as the owner of a company that last year employed 250 people, I come here excited about being the owner of a company that will create hundreds of jobs for our community and the possibility of thousands of jobs for our state in this new energy market. We've tapped into a workforce eager to apply their skills from previous jobs to our new ventures, and the result has been incredible. We're ready to do much more.”
Abe Breehey, Director of Legislative Affairs for the International Brotherhood of Boilermakers, said, “The demand for climate solutions will create job opportunities across the economy. We can put American ingenuity and skills to work to reduce emissions, with all the necessary labor and materials to make it happen. With the right market signals, we can turn the jobs union members do everyday into the environmental solutions our nation needs to meet this enormous challenge.”
Bill Keith, president of the St. John, Indiana-based Sunrise Solar, Inc., echoed Breehey's comments.
“We're producing solar-powered attic fans, trying to keep up with a demand that's skyrocketing,” Keith said. “We saw a market for energy efficient products and technologies that help consumers reduce their energy consumption, and we've been greeted with overwhelming support and demand. But we know there's much more to do. We are hoping that Congress finally puts the economy on a path to embrace these technologies. My operation is ready to grow, and I know others companies like mine are ready too.”
Environmental Defense Fund, a leading national nonprofit organization, represents more than 500,000 members. Since 1967, Environmental Defense Fund has linked science, economics, law and innovative private-sector partnerships to create breakthrough solutions to the most serious environmental problems. For more information, visit www.edf.org.
Contacts Environmental Defense FundTony Kreindler, 202-445-8108tkreindler@edf.orgorSharyn Stein, 202-572-3396sstein@edf.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 renewable energy and water stock directories.
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Online Map Unveiled at Vice Presidential Task Force Profiles 1,200 Companies in Manufacturing States, Demonstrates Potential for Massive Jobs Expansion to Build Climate Solutions
PHILADELPHIA--February 27 2009 --Environmental Defense Fund today released a groundbreaking online map that identifies and profiles more than 1,200 companies in key manufacturing states poised to grow their business and create new jobs when Congress passes a cap on global warming pollution.
The interactive map, online at LessCarbonMoreJobs.org, was released at the first meeting of Vice President Joe Biden's task force on middle class jobs in Philadelphia. It highlights hundreds of companies and communities in coal country, the rust belt and other manufacturing regions poised to benefit from demand for clean energy technologies created by a cap on carbon.
Vice President Biden hosted EDF President Fred Krupp and a range of experts to highlight new ways to increase renewable energy jobs and improve America's energy efficiency. Krupp said EDF's map shows that a carbon cap will create new markets and new customers for companies in the supply chain for low-carbon energy technologies and services.
“Our nation is rich with a skilled and dedicated workforce waiting for the economic opportunity that comes with a cap on carbon, especially in the current economy,” said Krupp. “A cap creates customers for U.S. manufacturers, and new customers mean new jobs. If there was ever a time we needed new customers at home and abroad, that time is now.”
LessCarbonMoreJobs.org identifies the locations, products, and services as well as select case studies and worker profiles for companies in 12 states: Michigan, Ohio, Pennsylvania, Indiana, New Hampshire, Arkansas, Tennessee, Colorado, Georgia, Missouri, Virginia and Florida.
Jackie Roberts, Director of Sustainable Technologies for EDF, spearheaded the research behind the website. “These maps tell the story of how a cap can fuel economic growth in the heartland while reducing America's global warming pollution,” Roberts said. “There is a manufacturing boom ready to happen, and a cap will help ignite that spark.”
LessCarbonMoreJobs.org allows visitors to search by state, Congressional district and media market to find companies manufacturing windmill components, shipping solar panel equipment and installing energy efficient building materials. The site also provides business details and contact information for companies in each profiled state.
Among the business leaders highlighted is Jeff Metts, owner and president of Dowding Industries, a Michigan-based manufacturer of large-scale machinery and parts that is hiring laid-off auto workers to build wind turbine components.
“This business is growing exponentially,” Metts said. “I don't come here as the owner of a company that last year employed 250 people, I come here excited about being the owner of a company that will create hundreds of jobs for our community and the possibility of thousands of jobs for our state in this new energy market. We've tapped into a workforce eager to apply their skills from previous jobs to our new ventures, and the result has been incredible. We're ready to do much more.”
Abe Breehey, Director of Legislative Affairs for the International Brotherhood of Boilermakers, said, “The demand for climate solutions will create job opportunities across the economy. We can put American ingenuity and skills to work to reduce emissions, with all the necessary labor and materials to make it happen. With the right market signals, we can turn the jobs union members do everyday into the environmental solutions our nation needs to meet this enormous challenge.”
Bill Keith, president of the St. John, Indiana-based Sunrise Solar, Inc., echoed Breehey's comments.
“We're producing solar-powered attic fans, trying to keep up with a demand that's skyrocketing,” Keith said. “We saw a market for energy efficient products and technologies that help consumers reduce their energy consumption, and we've been greeted with overwhelming support and demand. But we know there's much more to do. We are hoping that Congress finally puts the economy on a path to embrace these technologies. My operation is ready to grow, and I know others companies like mine are ready too.”
Environmental Defense Fund, a leading national nonprofit organization, represents more than 500,000 members. Since 1967, Environmental Defense Fund has linked science, economics, law and innovative private-sector partnerships to create breakthrough solutions to the most serious environmental problems. For more information, visit www.edf.org.
Contacts Environmental Defense FundTony Kreindler, 202-445-8108tkreindler@edf.orgorSharyn Stein, 202-572-3396sstein@edf.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 renewable energy and water stock directories.
Member sign-up- http://www.investorideas.com/membership/
Thursday, February 26, 2009
Coalition Response to Call for Switch to Natural Gas at Capitol Power Plant
Coalition Response to Call for Switch to Natural Gas at Capitol Power Plant
Capitol Climate Action Day, Biggest Civil Disobedience on Climate in U.S. History to Go Forward
Today, Speaker of the House Nancy Pelosi and Senate Leader Harry Reid released a letter asking the Capitol Architect to switch the Capitol Power Plant from coal to 100 percent natural gas by the end of 2009. Pelosi and Reid’s call comes just three days before more than 2,500 people from across the country are coming to converge at the power plant for the biggest civil disobedience on climate issues in U.S. history. Prior to the announcement of the Capitol Climate Action, pro-coal legislators had been able to prevent the switch from coal to natural gas.
"Speaker Pelosi and Leader Reid’s dramatic action shows that Congress can act quickly on global warming when the public demands it," said Greenpeace USA Deputy Campaigns Director Carroll Muffett. "Their action demonstrates that they recognize the urgency of the climate crisis and the need for a switch to cleaner energy sources."
"The more than 2,500 people coming to Washington to call for a solution to the climate crisis and an end to the use of coal are still coming because the climate is still in crisis and coal is still driving that crisis," said Michael Brune, Executive Director of the Rainforest Action Network. "Today’s move reflects Congress’s growing awareness that the public is demanding change."
"Speaker Pelosi and Leader Reid today showed the power of grassroots action," said Mike Tidwell, executive director of the Chesapeake Climate Action Network. "That grassroots action is going to continue until Congress passes legislation that solves the climate crisis."
The initial rally for the Capitol Climate Action will meet on March 2nd at 1:00pm in Spirit of Justice Park (C St. SW and Capitol St SE, two blocks west of Capitol South Metro)
For more information on the Capitol Climate Action, global warming, and coal, visit www.capitolclimateaction.org.
Pelosi and Reid’s letter is available at http://speaker.house.gov/newsroom/pressreleases?id=1028.
CONTACTS:
Michael Crocker, 202-319-2471
Nell Greenberg, 510-847-9777
Anne Havemann 240-396-2022
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.
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Capitol Climate Action Day, Biggest Civil Disobedience on Climate in U.S. History to Go Forward
Today, Speaker of the House Nancy Pelosi and Senate Leader Harry Reid released a letter asking the Capitol Architect to switch the Capitol Power Plant from coal to 100 percent natural gas by the end of 2009. Pelosi and Reid’s call comes just three days before more than 2,500 people from across the country are coming to converge at the power plant for the biggest civil disobedience on climate issues in U.S. history. Prior to the announcement of the Capitol Climate Action, pro-coal legislators had been able to prevent the switch from coal to natural gas.
"Speaker Pelosi and Leader Reid’s dramatic action shows that Congress can act quickly on global warming when the public demands it," said Greenpeace USA Deputy Campaigns Director Carroll Muffett. "Their action demonstrates that they recognize the urgency of the climate crisis and the need for a switch to cleaner energy sources."
"The more than 2,500 people coming to Washington to call for a solution to the climate crisis and an end to the use of coal are still coming because the climate is still in crisis and coal is still driving that crisis," said Michael Brune, Executive Director of the Rainforest Action Network. "Today’s move reflects Congress’s growing awareness that the public is demanding change."
"Speaker Pelosi and Leader Reid today showed the power of grassroots action," said Mike Tidwell, executive director of the Chesapeake Climate Action Network. "That grassroots action is going to continue until Congress passes legislation that solves the climate crisis."
The initial rally for the Capitol Climate Action will meet on March 2nd at 1:00pm in Spirit of Justice Park (C St. SW and Capitol St SE, two blocks west of Capitol South Metro)
For more information on the Capitol Climate Action, global warming, and coal, visit www.capitolclimateaction.org.
Pelosi and Reid’s letter is available at http://speaker.house.gov/newsroom/pressreleases?id=1028.
CONTACTS:
Michael Crocker, 202-319-2471
Nell Greenberg, 510-847-9777
Anne Havemann 240-396-2022
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.
Member sign-up- http://www.investorideas.com/membership/
Report Warns Businesses and Investors about Growing Water Scarcity Impacts from Climate Change
Report Warns Businesses and Investors about Growing Water Scarcity Impacts from Climate Change
Climate Risks Mean New Problems for Vulnerable Sectors, including Electric Power, High-Tech, Agriculture and Beverages
BOSTON, MA. – February 26, 2009 - Global climate change is exacerbating water scarcity problems around the world, yet few businesses and investors are paying attention to this growing financial threat, according to a report issued today by Ceres and the Pacific Institute.
Water is crucial for the global economy – driving every industry from agriculture to electric power to silicon chip manufacturing. Beverage, apparel and tourism also rely on supplies of clean, potable water to survive and grow.
Decreasing water availability, declining water quality, and growing water demand are creating immense challenges to businesses and investors who have historically taken clean, reliable and inexpensive water for granted. These trends are causing decreases in companies' water allotments for manufacturing, shifts towards full-cost water pricing, more stringent water quality regulations and increased public scrutiny of corporate water practices.
The report concludes that climate change will exacerbate these growing water risks – especially as the world population grows by 50 million people every year. Already, China, India and the western U.S. are seeing growth limited by reduced water supplies from shrinking glaciers and melting snowcaps that sustain key rivers. Meanwhile, agricultural and power plant production have been cut back due to more frequent and more intense heat waves and droughts in large parts of Australia, California and the southeast U.S.
"The business community needs to wake up to the reality that water is becoming scarcer and will likely become even more so in many parts of the world due to climate change," said Mindy S. Lubber, president of Ceres, which published the report, Water Scarcity & Climate Change: Growing Risks for Businesses and Investors. "It is critical that companies and investors boost their attention on this issue."
"This research sheds important light on the critical link between climate change and water issues. For businesses, addressing the risk factors of water scarcity and conflict is as urgent as addressing energy security and greenhouse gas emissions," said Jason Morrison, program director at the Pacific Institute and the report’s lead author. "With impacts of climate change on water resources already affecting businesses, this report provides a first-of-its-kind list of key questions companies and investors should be asking – and responding to – in an integrated way."
The report identifies water-related risks specific to eight key industries, including:
* Electric Power: Drought-induced water shortages have already caused power plant shutdowns in Europe, Brazil and the southeast U.S. that led to price spikes and reduced economic growth. The power industry depends heavily on water and accounts for a staggering 39 percent of freshwater withdrawals in the U.S.
* High-Tech: Eleven of the world's 14 largest semiconductor factories are in the Asia-Pacific region, where water scarcity risks are especially severe. IT firms require vast amounts of ultra clean water – Intel and Texas Instruments alone used 11 billion gallons to make silicon chips in 2007. A water-related shutdown at a fabrication facility operated by these firms could result in $100-$200 million in missed revenue during a quarter, or $0.02 or $0.04 per share.
* Beverage: Coca-Cola and PepsiCo bottlers lost their operating licenses in parts of India due to water shortages and all major beverage firms are facing stiff public opposition to new bottling plants Рand to buying bottled drinking water altogether. Nestl̩ Waters has been fighting for five years, for example, to build the country's largest bottling plant in McCloud, CA.
* Agriculture: Reduced water availability is already impacting food commodity prices, as shown by last year's sharp increase in global rice prices triggered by a drought-induced collapse of rice production in Australia. Roughly 70 percent of the water used globally is for agriculture, with as much as 90 percent in developing countries where populations are growing fastest.
The report also identified specific water-related risks for apparel, biotechnology/pharmaceutical, forest products and metals/mining firms.
"This report makes clear that companies and investors can no longer take water for granted," said Anne Stausboll, chief executive officer of the California Public Employees' Retirement System, the nation's largest public pension fund with approximately $170 billion in assets. "As a global investor, we must be mindful of water-related risks in many parts of the world and how climate change will likely exacerbate many of those risks. Disclosure by companies is an important first step in improving transparency around the risks and opportunities associated with water and climate change."
The report also highlights the intensifying conflict between energy use and water availability. With increasing frequency, choosing one of these resources means undermining the other – the other usually being water. For example, the billions of dollars spent to expand corn-based ethanol production in the U.S. and oil sands development in Canada has helped ensure increased fuel supplies, but at the expense of significant water impacts and greenhouse gas emissions that could ultimately limit these ventures in the future.
Despite these looming challenges, the report concludes that businesses and investors are largely unaware of water-related risks or how climate change will likely exacerbate them. Weak corporate disclosure on potential risk exposure and response strategies is especially glaring.
To evaluate and effectively address water risks, companies should take the following actions:
* Measure the company’s water footprint (i.e., water use and wastewater discharge) throughout its entire value chain, including suppliers and product use.
* Assess physical, regulatory and reputational risks associated with its water footprint, and seek to align the evaluation with the company’s energy and climate risk assessments.
* Engage key stakeholders (e.g., local communities, non-governmental organizations, government bodies, suppliers, and employees) as a part of water risk assessment, long-term planning and implementation activities.
* Integrate water issues into strategic business planning and governance structures.
* Disclose and communicate water performance and associated risks.
Similarly, investors should pursue the following steps to better understand potential water-related exposure in their portfolio companies:
* Independently assess companies’ water risk exposure.
* Demand more meaningful corporate water disclosure.
* Encourage companies to incorporate water issues into their climate change strategies.
* Emphasize the business opportunity side of the water challenge.
About Ceres
Ceres is a leading coalition of investors, environmental groups and other public interest groups working with companies to address sustainability challenges such as global climate change. Ceres directs the Investor Network on Climate Risk, a network of 75 institutional investors and financial firms with collective assets totaling nearly $7 trillion focused on the business impacts of climate change. www.ceres.org
About Pacific Institute
The Pacific Institute is a nonprofit research organization in Oakland, California dedicated to protecting our natural world, encouraging sustainable development, and improving global security. Founded in 1987, the Institute provides independent research and policy analysis on issues at the intersection of development, environment, and security and aims to find real-world solutions to problems like water shortages, habitat destruction, global warming, and environmental injustice. www.pacinst.org.
Contact: Peyton Fleming, Ceres, 617-247-0700 x120 or 617-733-6660 (cell); and Nancy Ross, Pacific Institute, 510-251-1600 x106.
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Climate Risks Mean New Problems for Vulnerable Sectors, including Electric Power, High-Tech, Agriculture and Beverages
BOSTON, MA. – February 26, 2009 - Global climate change is exacerbating water scarcity problems around the world, yet few businesses and investors are paying attention to this growing financial threat, according to a report issued today by Ceres and the Pacific Institute.
Water is crucial for the global economy – driving every industry from agriculture to electric power to silicon chip manufacturing. Beverage, apparel and tourism also rely on supplies of clean, potable water to survive and grow.
Decreasing water availability, declining water quality, and growing water demand are creating immense challenges to businesses and investors who have historically taken clean, reliable and inexpensive water for granted. These trends are causing decreases in companies' water allotments for manufacturing, shifts towards full-cost water pricing, more stringent water quality regulations and increased public scrutiny of corporate water practices.
The report concludes that climate change will exacerbate these growing water risks – especially as the world population grows by 50 million people every year. Already, China, India and the western U.S. are seeing growth limited by reduced water supplies from shrinking glaciers and melting snowcaps that sustain key rivers. Meanwhile, agricultural and power plant production have been cut back due to more frequent and more intense heat waves and droughts in large parts of Australia, California and the southeast U.S.
"The business community needs to wake up to the reality that water is becoming scarcer and will likely become even more so in many parts of the world due to climate change," said Mindy S. Lubber, president of Ceres, which published the report, Water Scarcity & Climate Change: Growing Risks for Businesses and Investors. "It is critical that companies and investors boost their attention on this issue."
"This research sheds important light on the critical link between climate change and water issues. For businesses, addressing the risk factors of water scarcity and conflict is as urgent as addressing energy security and greenhouse gas emissions," said Jason Morrison, program director at the Pacific Institute and the report’s lead author. "With impacts of climate change on water resources already affecting businesses, this report provides a first-of-its-kind list of key questions companies and investors should be asking – and responding to – in an integrated way."
The report identifies water-related risks specific to eight key industries, including:
* Electric Power: Drought-induced water shortages have already caused power plant shutdowns in Europe, Brazil and the southeast U.S. that led to price spikes and reduced economic growth. The power industry depends heavily on water and accounts for a staggering 39 percent of freshwater withdrawals in the U.S.
* High-Tech: Eleven of the world's 14 largest semiconductor factories are in the Asia-Pacific region, where water scarcity risks are especially severe. IT firms require vast amounts of ultra clean water – Intel and Texas Instruments alone used 11 billion gallons to make silicon chips in 2007. A water-related shutdown at a fabrication facility operated by these firms could result in $100-$200 million in missed revenue during a quarter, or $0.02 or $0.04 per share.
* Beverage: Coca-Cola and PepsiCo bottlers lost their operating licenses in parts of India due to water shortages and all major beverage firms are facing stiff public opposition to new bottling plants Рand to buying bottled drinking water altogether. Nestl̩ Waters has been fighting for five years, for example, to build the country's largest bottling plant in McCloud, CA.
* Agriculture: Reduced water availability is already impacting food commodity prices, as shown by last year's sharp increase in global rice prices triggered by a drought-induced collapse of rice production in Australia. Roughly 70 percent of the water used globally is for agriculture, with as much as 90 percent in developing countries where populations are growing fastest.
The report also identified specific water-related risks for apparel, biotechnology/pharmaceutical, forest products and metals/mining firms.
"This report makes clear that companies and investors can no longer take water for granted," said Anne Stausboll, chief executive officer of the California Public Employees' Retirement System, the nation's largest public pension fund with approximately $170 billion in assets. "As a global investor, we must be mindful of water-related risks in many parts of the world and how climate change will likely exacerbate many of those risks. Disclosure by companies is an important first step in improving transparency around the risks and opportunities associated with water and climate change."
The report also highlights the intensifying conflict between energy use and water availability. With increasing frequency, choosing one of these resources means undermining the other – the other usually being water. For example, the billions of dollars spent to expand corn-based ethanol production in the U.S. and oil sands development in Canada has helped ensure increased fuel supplies, but at the expense of significant water impacts and greenhouse gas emissions that could ultimately limit these ventures in the future.
Despite these looming challenges, the report concludes that businesses and investors are largely unaware of water-related risks or how climate change will likely exacerbate them. Weak corporate disclosure on potential risk exposure and response strategies is especially glaring.
To evaluate and effectively address water risks, companies should take the following actions:
* Measure the company’s water footprint (i.e., water use and wastewater discharge) throughout its entire value chain, including suppliers and product use.
* Assess physical, regulatory and reputational risks associated with its water footprint, and seek to align the evaluation with the company’s energy and climate risk assessments.
* Engage key stakeholders (e.g., local communities, non-governmental organizations, government bodies, suppliers, and employees) as a part of water risk assessment, long-term planning and implementation activities.
* Integrate water issues into strategic business planning and governance structures.
* Disclose and communicate water performance and associated risks.
Similarly, investors should pursue the following steps to better understand potential water-related exposure in their portfolio companies:
* Independently assess companies’ water risk exposure.
* Demand more meaningful corporate water disclosure.
* Encourage companies to incorporate water issues into their climate change strategies.
* Emphasize the business opportunity side of the water challenge.
About Ceres
Ceres is a leading coalition of investors, environmental groups and other public interest groups working with companies to address sustainability challenges such as global climate change. Ceres directs the Investor Network on Climate Risk, a network of 75 institutional investors and financial firms with collective assets totaling nearly $7 trillion focused on the business impacts of climate change. www.ceres.org
About Pacific Institute
The Pacific Institute is a nonprofit research organization in Oakland, California dedicated to protecting our natural world, encouraging sustainable development, and improving global security. Founded in 1987, the Institute provides independent research and policy analysis on issues at the intersection of development, environment, and security and aims to find real-world solutions to problems like water shortages, habitat destruction, global warming, and environmental injustice. www.pacinst.org.
Contact: Peyton Fleming, Ceres, 617-247-0700 x120 or 617-733-6660 (cell); and Nancy Ross, Pacific Institute, 510-251-1600 x106.
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Wednesday, February 25, 2009
Cogentrix Energy Completes Solar Acquisition Purchase of SEGS I and SEGS II Completed
Cogentrix Energy Completes Solar Acquisition Purchase of SEGS I and SEGS II Completed
CHARLOTTE, N.C-Cogentrix Energy, LLC (“Cogentrix”), through its wholly owned subsidiary Cogentrix Solar Services, has closed its acquisition of Sunray Energy, Inc., the owner and operator of facilities formerly known as Solar Energy Generation Systems I and II (“SEGS I” and “SEGS II”), completing a transaction that was entered into on September 30, 2008. SEGS I and II represent the first two utility-scale solar trough plants built in the world and deliver up to approximately 43 megawatts of electric capacity under contract to Southern California Edison (“SCE”). The plants were completed and placed in service in 1984 and 1985 and are located in San Bernardino County, California.
“This acquisition affirms our commitment to renewable energy. Cogentrix has an established track record of investing in, developing, constructing and operating power generation projects throughout the United States. We are now moving forward to deliver these core competencies to the renewable energy sector,” said Larry Kellerman, President of Cogentrix.
Cogentrix plans to make a significant investment in retrofitting and upgrading the delivery capability and reliability of SEGS I and II to enable the plants to continue to supply power into the California renewable market. In solar trough plants, energy from the sun is collected on specially designed mirrors and directed onto glass enclosed collectors where the heat generated is captured and used to produce steam for powering turbine-generators in the production of electricity.
Details of the SEGS I & II acquisition were not disclosed.
“This acquisition positions Cogentrix firmly in the solar business and we are excited about the future,” said Bill Felts, Senior Vice President at Cogentrix. “Renewable energy is a major component of our nation’s energy strategy to help ensure greater energy independence. It is our goal to help ensure that electricity can be provided from renewable sources in an economic and reliable fashion.” With over 25 years of experience in the electric power generation industry, Mr. Felts leads the overall development effort at Cogentrix.
Cogentrix continues to expand its development capabilities. Recent additions to the Cogentrix development staff are Mr. Edouard (Ed) MacGuffie as Vice President of Solar Development; Charles (Chuck) Muoio, Vice President of Development; William (Bill) Heck, Vice President of Southwest Development; Gary Palo, Vice President of California Development; and Eduardo Hernandez-Carstens, Vice President of Wind and DSM Development.
Prior to joining Cogentrix, Ed MacGuffie was Executive Director, Solar for FPL Energy. Mr. MacGuffie’s experience in the solar market includes managing the acquisition of the Kramer SEGS III-VII plants in California; initiating a $100 million solar field recapitalization effort at both Kramer SEGS III-VII and Harper SEGS VIII-IX solar generating facilities; and identifying and negotiating a joint-venture for solar development in Spain.
Chuck Muoio joins Cogentrix from Goldman Sachs where he served as Vice President, Alternative Energy Group. Mr. Muoio has over 30 years of experience in the energy business including responsibility for development, construction and asset management for energy projects. Mr. Muoio was previously with FPL Energy as Vice President of Development with responsibility for mergers and acquisitions, wind quality improvement programs and solar thermal assets.
Gary Palo comes to Cogentrix from FPL Energy where he was Director of Development, managing the development of the Beacon Solar Energy Project, a 250 MW concentrating solar power facility proposed in the western Mojave Desert region of California. Mr. Palo also has extensive experience in the development of natural gas fired electric power projects, including associated interconnecting transmission lines in California. He has been active in the independent power industry for the past 24 years.
Bill Heck joins Cogentrix from Nevada Power Company and its sister company Sierra Pacific Power Company where he served as Development Director-Renewables. Mr. Heck was instrumental in the development of both the 12MW Nellis Solar Star photovoltaic generating facility and the 64MW Nevada Solar One concentrating solar thermal generating facility. He was also responsible for compliance with both the Nevada and California renewable portfolio standards and the procurement of approximately 400MW of geothermal generation.
Eduardo Hernandez-Carstens has over 25 years experience with Petroleos de Venezuela (“PDVSA”), a large integrated energy company where he participated in acquisitions of international downstream assets. Mr. Hernandez-Carstens was responsible for the introduction and negotiation of long term supply contracts of a patented boiler fuel to North American utilities, and structured complex multi-party capital investments in the power industry, marketing projects in Europe, Latin America, Canada and the United States.
Founded in 1983 and headquartered in Charlotte, N.C., Cogentrix is a recognized leader in the independent power industry for its proven capabilities in meeting regulatory and commercial commitments. The Company has offices in Virginia, California, Florida and Nevada in addition to the corporate offices in Charlotte, North Carolina. Cogentrix is a subsidiary of The Goldman Sachs Group, Inc.
Contacts Cogentrix Energy, LLCJef Freeman, 704-525-3800jeffreeman@cogentrix.com
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CHARLOTTE, N.C-Cogentrix Energy, LLC (“Cogentrix”), through its wholly owned subsidiary Cogentrix Solar Services, has closed its acquisition of Sunray Energy, Inc., the owner and operator of facilities formerly known as Solar Energy Generation Systems I and II (“SEGS I” and “SEGS II”), completing a transaction that was entered into on September 30, 2008. SEGS I and II represent the first two utility-scale solar trough plants built in the world and deliver up to approximately 43 megawatts of electric capacity under contract to Southern California Edison (“SCE”). The plants were completed and placed in service in 1984 and 1985 and are located in San Bernardino County, California.
“This acquisition affirms our commitment to renewable energy. Cogentrix has an established track record of investing in, developing, constructing and operating power generation projects throughout the United States. We are now moving forward to deliver these core competencies to the renewable energy sector,” said Larry Kellerman, President of Cogentrix.
Cogentrix plans to make a significant investment in retrofitting and upgrading the delivery capability and reliability of SEGS I and II to enable the plants to continue to supply power into the California renewable market. In solar trough plants, energy from the sun is collected on specially designed mirrors and directed onto glass enclosed collectors where the heat generated is captured and used to produce steam for powering turbine-generators in the production of electricity.
Details of the SEGS I & II acquisition were not disclosed.
“This acquisition positions Cogentrix firmly in the solar business and we are excited about the future,” said Bill Felts, Senior Vice President at Cogentrix. “Renewable energy is a major component of our nation’s energy strategy to help ensure greater energy independence. It is our goal to help ensure that electricity can be provided from renewable sources in an economic and reliable fashion.” With over 25 years of experience in the electric power generation industry, Mr. Felts leads the overall development effort at Cogentrix.
Cogentrix continues to expand its development capabilities. Recent additions to the Cogentrix development staff are Mr. Edouard (Ed) MacGuffie as Vice President of Solar Development; Charles (Chuck) Muoio, Vice President of Development; William (Bill) Heck, Vice President of Southwest Development; Gary Palo, Vice President of California Development; and Eduardo Hernandez-Carstens, Vice President of Wind and DSM Development.
Prior to joining Cogentrix, Ed MacGuffie was Executive Director, Solar for FPL Energy. Mr. MacGuffie’s experience in the solar market includes managing the acquisition of the Kramer SEGS III-VII plants in California; initiating a $100 million solar field recapitalization effort at both Kramer SEGS III-VII and Harper SEGS VIII-IX solar generating facilities; and identifying and negotiating a joint-venture for solar development in Spain.
Chuck Muoio joins Cogentrix from Goldman Sachs where he served as Vice President, Alternative Energy Group. Mr. Muoio has over 30 years of experience in the energy business including responsibility for development, construction and asset management for energy projects. Mr. Muoio was previously with FPL Energy as Vice President of Development with responsibility for mergers and acquisitions, wind quality improvement programs and solar thermal assets.
Gary Palo comes to Cogentrix from FPL Energy where he was Director of Development, managing the development of the Beacon Solar Energy Project, a 250 MW concentrating solar power facility proposed in the western Mojave Desert region of California. Mr. Palo also has extensive experience in the development of natural gas fired electric power projects, including associated interconnecting transmission lines in California. He has been active in the independent power industry for the past 24 years.
Bill Heck joins Cogentrix from Nevada Power Company and its sister company Sierra Pacific Power Company where he served as Development Director-Renewables. Mr. Heck was instrumental in the development of both the 12MW Nellis Solar Star photovoltaic generating facility and the 64MW Nevada Solar One concentrating solar thermal generating facility. He was also responsible for compliance with both the Nevada and California renewable portfolio standards and the procurement of approximately 400MW of geothermal generation.
Eduardo Hernandez-Carstens has over 25 years experience with Petroleos de Venezuela (“PDVSA”), a large integrated energy company where he participated in acquisitions of international downstream assets. Mr. Hernandez-Carstens was responsible for the introduction and negotiation of long term supply contracts of a patented boiler fuel to North American utilities, and structured complex multi-party capital investments in the power industry, marketing projects in Europe, Latin America, Canada and the United States.
Founded in 1983 and headquartered in Charlotte, N.C., Cogentrix is a recognized leader in the independent power industry for its proven capabilities in meeting regulatory and commercial commitments. The Company has offices in Virginia, California, Florida and Nevada in addition to the corporate offices in Charlotte, North Carolina. Cogentrix is a subsidiary of The Goldman Sachs Group, Inc.
Contacts Cogentrix Energy, LLCJef Freeman, 704-525-3800jeffreeman@cogentrix.com
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Tuesday, February 24, 2009
First Solar Passes $1 Per Watt Industry MilestoneCompany Cuts Manufacturing Cost to 98 Cents Per Watt in Fourth Quarter
First Solar Passes $1 Per Watt Industry MilestoneCompany Cuts Manufacturing Cost to 98 Cents Per Watt in Fourth Quarter
TEMPE, Ariz.--Feb 24 2009 -First Solar, Inc. (Nasdaq: FSLR ) today announced it reduced its manufacturing cost for solar modules in the fourth quarter to 98 cents per watt, breaking the $1 per watt price barrier.
“This achievement marks a milestone in the solar industry’s evolution toward providing truly sustainable energy solutions,” said Mike Ahearn, First Solar chief executive officer. “First Solar is proud to be leading the way toward clean, affordable solar electricity as a viable alternative to fossil fuels.”
First Solar began full commercial operation of its initial manufacturing line in late 2004. From 2004 through today, manufacturing capacity has grown 2,500 percent to more than 500 megawatts in 2008. First Solar’s annual production capacity will double in 2009 to more than 1 gigawatt, the equivalent of an average-sized nuclear power plant. These escalating volumes have been accompanied by a rapid reduction in manufacturing costs. From 2004 through today, First Solar’s manufacturing costs have declined two-thirds from over $3 per watt to less than $1 per watt. First Solar is confident that further significant cost reductions are possible based on the yet untapped potential of its technology and manufacturing process.
First Solar is not only committed to making solar power affordable but also to making it environmentally sustainable. The Company takes responsibility for its products throughout their life cycle, ensuring that First Solar modules have the smallest carbon footprint of any current photovoltaic (PV) technology. First Solar is proud to have the industry’s first and only comprehensive pre-funded, end-of-life module collection and recycling program, recycling more than 90 percent of each collected module into new products.
Ahearn expressed thanks to governments in Germany and other countries for making today’s milestone possible. “Without forward-looking government programs supporting solar electricity, we would not have been able to invest in the capacity expansion which gives us the scale to bring costs down,” he said. “First Solar’s ongoing focus on cost reduction enables continued growth even as subsidies decline. In the meantime, those initial investments are paying off in a cleaner environment and in the creation of thousands of jobs with a clear future.”
“This represents a major milestone for the solar industry,” said Ken Zweibel, an industry veteran currently serving as Director of the Institute for the Analysis of Solar Energy at The George Washington University and former Program Leader for the Thin Film Partnership Program at the National Renewable Energy Laboratory in Golden, Colo. “In order to address climate change in a meaningful way, we need energy technologies that are affordable, scalable and have a low environmental impact on a life-cycle basis. With this announcement, First Solar continues to demonstrate the ability of thin film PV technology to provide an alternative to traditional fossil fuels and for solar power to provide a meaningful contribution in addressing climate change."
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.
Contact:First Solar, Inc.United States:Lisa Morse+1-602-414-9361media@firstsolar.comEurope:Brandon Mitchener+49-6131-1443-399media@firstsolar.com
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TEMPE, Ariz.--Feb 24 2009 -First Solar, Inc. (Nasdaq: FSLR ) today announced it reduced its manufacturing cost for solar modules in the fourth quarter to 98 cents per watt, breaking the $1 per watt price barrier.
“This achievement marks a milestone in the solar industry’s evolution toward providing truly sustainable energy solutions,” said Mike Ahearn, First Solar chief executive officer. “First Solar is proud to be leading the way toward clean, affordable solar electricity as a viable alternative to fossil fuels.”
First Solar began full commercial operation of its initial manufacturing line in late 2004. From 2004 through today, manufacturing capacity has grown 2,500 percent to more than 500 megawatts in 2008. First Solar’s annual production capacity will double in 2009 to more than 1 gigawatt, the equivalent of an average-sized nuclear power plant. These escalating volumes have been accompanied by a rapid reduction in manufacturing costs. From 2004 through today, First Solar’s manufacturing costs have declined two-thirds from over $3 per watt to less than $1 per watt. First Solar is confident that further significant cost reductions are possible based on the yet untapped potential of its technology and manufacturing process.
First Solar is not only committed to making solar power affordable but also to making it environmentally sustainable. The Company takes responsibility for its products throughout their life cycle, ensuring that First Solar modules have the smallest carbon footprint of any current photovoltaic (PV) technology. First Solar is proud to have the industry’s first and only comprehensive pre-funded, end-of-life module collection and recycling program, recycling more than 90 percent of each collected module into new products.
Ahearn expressed thanks to governments in Germany and other countries for making today’s milestone possible. “Without forward-looking government programs supporting solar electricity, we would not have been able to invest in the capacity expansion which gives us the scale to bring costs down,” he said. “First Solar’s ongoing focus on cost reduction enables continued growth even as subsidies decline. In the meantime, those initial investments are paying off in a cleaner environment and in the creation of thousands of jobs with a clear future.”
“This represents a major milestone for the solar industry,” said Ken Zweibel, an industry veteran currently serving as Director of the Institute for the Analysis of Solar Energy at The George Washington University and former Program Leader for the Thin Film Partnership Program at the National Renewable Energy Laboratory in Golden, Colo. “In order to address climate change in a meaningful way, we need energy technologies that are affordable, scalable and have a low environmental impact on a life-cycle basis. With this announcement, First Solar continues to demonstrate the ability of thin film PV technology to provide an alternative to traditional fossil fuels and for solar power to provide a meaningful contribution in addressing climate change."
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.
Contact:First Solar, Inc.United States:Lisa Morse+1-602-414-9361media@firstsolar.comEurope:Brandon Mitchener+49-6131-1443-399media@firstsolar.com
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How to Invest in the Green Technology Revolution
How to Invest in the Green Technology Revolution
Investors Tools to Become Educated in Solar, Wind and Green Stocks
POINT ROBERTS, WA and DELTA, BC –February 24, 2009 - www.RenewableEnergyStocks.com, a leading global investor and industry portal for the renewable energy sector within Investorideas.com, provides investors with tools and resources to participate and invest in the green technology revolution.
Investor Ideas has created a global directory of publicly traded green and renewable energy stocks in wind, solar, biofuel and other green sectors. Investor Ideas stock directories are one of several tools for independent investors to complete due diligence and research.
Renewableenergysstocks.com was one of the first online investor resources providing in-depth information on renewable energy and the public companies in the sector.
Renewable Energy Stock Directory:
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
The directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM markets and other leading exchanges reflecting the global participation and growth in renewable energy and green stocks.
The RenewableEnergyStocks.com portal currently features a directory with info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Stocks and Green Infrastructure Stocks.
Green Investor Content:
Green IPO Watch: http://www.investorideas.com/IPO/green.asp
Solar Energy Perspectives with J. Peter Lynch: http://www.investorideas.com/RSS/feeds/PL.xml
Renewable Energy and GreenTech Business and Stock News RSS Feed: http://www.investorideas.com/RSS/feeds/RES.xml
Investorideas.com Green Investor Audio and Article Series
http://www.investorideas.com/gi/
InvestorIdeas.com has created a Green Investor Series of Podcasts & articles on green and renewable energy investing for Investing in a Better World! Follow well- known financial columnist Michael Brush, who also writes the Insiders Corner for Investorideas.com, in a series of audio interviews/Podcasts with some of the leading CEO's, investment banking and financial leaders in the sector. The Green Investor Podcasts can also be heard on Money Matters with Barry Armstrong, #1 Personal Finance Radio Show in Boston! www.WBNW1120.com.
Also Read energy writer Paulo Nery's new Green Investor column and gain insight into the sector.
For entrepreneurs, investors and funds, The Global Green Marketplace is a meeting place and network for green and renewable energy companies seeking funding /partners, management and investors providing venture capital and equity funding . View Marketplace: http://www.investorideas.com/marketplace/
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.
Visit the Investorideas.com Green Investor Portals: www.RenewableEnergyStocks.com ®, www.FuelCellCarNews.com ®, www.EnvironmentStocks.com, www.Water-Stocks.com and www.GreentechInvestor.com all within the Investorideas.com hub.
About InvestorIdeas.com:
Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates! We cover multiple industry sectors but specialize in environmental and water.
Investorideas.com Membership- Green Stocks Directory
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Source: RenewableEnergyStocks.com
Investors Tools to Become Educated in Solar, Wind and Green Stocks
POINT ROBERTS, WA and DELTA, BC –February 24, 2009 - www.RenewableEnergyStocks.com, a leading global investor and industry portal for the renewable energy sector within Investorideas.com, provides investors with tools and resources to participate and invest in the green technology revolution.
Investor Ideas has created a global directory of publicly traded green and renewable energy stocks in wind, solar, biofuel and other green sectors. Investor Ideas stock directories are one of several tools for independent investors to complete due diligence and research.
Renewableenergysstocks.com was one of the first online investor resources providing in-depth information on renewable energy and the public companies in the sector.
Renewable Energy Stock Directory:
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
The directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM markets and other leading exchanges reflecting the global participation and growth in renewable energy and green stocks.
The RenewableEnergyStocks.com portal currently features a directory with info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Stocks and Green Infrastructure Stocks.
Green Investor Content:
Green IPO Watch: http://www.investorideas.com/IPO/green.asp
Solar Energy Perspectives with J. Peter Lynch: http://www.investorideas.com/RSS/feeds/PL.xml
Renewable Energy and GreenTech Business and Stock News RSS Feed: http://www.investorideas.com/RSS/feeds/RES.xml
Investorideas.com Green Investor Audio and Article Series
http://www.investorideas.com/gi/
InvestorIdeas.com has created a Green Investor Series of Podcasts & articles on green and renewable energy investing for Investing in a Better World! Follow well- known financial columnist Michael Brush, who also writes the Insiders Corner for Investorideas.com, in a series of audio interviews/Podcasts with some of the leading CEO's, investment banking and financial leaders in the sector. The Green Investor Podcasts can also be heard on Money Matters with Barry Armstrong, #1 Personal Finance Radio Show in Boston! www.WBNW1120.com.
Also Read energy writer Paulo Nery's new Green Investor column and gain insight into the sector.
For entrepreneurs, investors and funds, The Global Green Marketplace is a meeting place and network for green and renewable energy companies seeking funding /partners, management and investors providing venture capital and equity funding . View Marketplace: http://www.investorideas.com/marketplace/
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.
Visit the Investorideas.com Green Investor Portals: www.RenewableEnergyStocks.com ®, www.FuelCellCarNews.com ®, www.EnvironmentStocks.com, www.Water-Stocks.com and www.GreentechInvestor.com all within the Investorideas.com hub.
About InvestorIdeas.com:
Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates! We cover multiple industry sectors but specialize in environmental and water.
Investorideas.com Membership- Green Stocks Directory
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