Solar Stocks; ARISE Technologies (TSX: APV ) Announces Preliminary Third Quarter Results
WATERLOO, ON, (http://www.investorideas.com/ clean energy stocks blog)- ARISE Technologies Corporation ("ARISE" or "the Company") (TSX: APV and Frankfurt: A3T), a leader in high-performance, high-quality, cost-effective solar technology, today announced preliminary financial results for the three and nine months ended September 30, 2010. ARISE cautions that these results are based on unaudited preliminary Company data and may be subject to final adjustment.
The preliminary unaudited results indicate that revenue for Q3 2010 is expected to total approximately $23.0 million, of which $3.7 million was from wafer tolling. This result represents a 50% increase from the $15.3 million in Q2 2010 and a 249% increase over the $6.6 million in Q3 2009. With the successful ramp-up of Line Two in June 2010, the PV cell plant in Germany is also expected to achieve positive EBITDA (Earnings before interest, tax, depreciation and amortization) for the third quarter which would exceed the Company's internal target for the quarter.
Shipments for the third quarter of 2010 are expected to be 19.5MW, up 65% from the 11.8MW in Q2 2010 and 457% higher than the 3.5MW shipped in Q3 2009. The preliminary results indicate that inventory levels remain at the low end of the Company's target range. The Company expects that quarter over quarter PV cell shipment growth will be lower in the remainder of 2010 and 2011 as results now include Line Two operating at full capacity for an entire quarter. Additional PV cell shipment growth will be generated if the Company installs additional production lines.
Revenue for the first nine-months of 2010 is expected to be $54.4M, up 166% from the $20.4M in the first nine months of 2009. Shipments were 45.2MW for the first nine-months of 2010, which is an increase of 421% over the 8.7MW shipped in the first nine-months of 2009.
"During the third quarter of 2009 our PV cell shipments continued their strong upward trend as demand for our products outpaced existing production capacities," said Vern Heinrichs, ARISE's President and Chief Executive Officer. "The increased demand we have experienced throughout 2010 continues to drive strong top-line revenue growth, and preliminary results indicate that our third quarter revenue will increase by approximately 250% over the same period last year."
"In Ontario, our systems business continues to gain traction in this early stage market, with preliminary third quarter results pointing to a more than doubling of systems revenue over the previous quarter," continued Mr. Heinrichs.
"In regards to our Silicon Division, we continue our negotiations with now three major companies to structure an agreement to commercialize our proprietary high-purity, low-cost silicon technology. This process is taking longer than we had originally anticipated. Due to recent results from our R & D activities and increasing prices for silicon world-wide, we remain optimistic that we will be able to finalize our strategic approach soon," concluded Mr. Heinrichs.
In early November, ARISE expects to release its Q3 2010 financial results and hold a conference call. Details for the third quarter conference call will be provided closer to the date of the release.
About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology. The company operates through three divisions. The PV Cell Division manufactures PV (photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany. The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20%. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% purity) for PV cell applications, based on a simplified chemical vapor deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV Systems Division has been providing PV solutions for solar farms and rooftop installations since 1996 throughout North America. ARISE is planning to expand its systems business in Ontario under the Ontario FIT (Feed-In Tariff) program.
The company's shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T. Additional information is available at www.arisetech.com and http://www.sedar.com/.
Forward-Looking Statements and Risk Factors
Certain statements in this news release may be considered to be forward-looking. Such statements are based on management's current expectations, estimations, and assumptions based on experience, trends, and other factors that are subject to the significant risks and uncertainties described in our regulatory filings. Please refer to these. Such risks and uncertainties may include, but are not limited to, the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, the requirement for additional capital, high debt levels, negative working capital levels, lack of profitability, risks associated with manufacturing, industry supply levels, competitive pricing pressures and misjudgements in the course of preparing forward-looking statements.
Risk factors relating to ARISE are discussed in the Risk Factors section of ARISE's Annual Information Form and under the headings Liquidity and Capital Resources and Risk and Uncertainties in ARISE's year-end Management's Discussion and Analysis which are or will be available at www.sedar.com. These factors should be considered carefully, and readers should not place undue reliance on ARISE's forward-looking statements.
ARISE assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
For further information
ARISE Technologies Corporation, 65 Northland Road, Waterloo, Ontario, Canada, N2V 1Y8, Doug McCollam, Chief Financial Officer, (519) 772-5706, Doug.McCollam@arisetech.com, www.arisetech.com
Investor Relations, Glen Williams, The Equicom Group, (416) 815-0700 ext. 272, gwilliams@equicomgroup.com
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Wednesday, October 06, 2010
Tuesday, October 05, 2010
Cleantech Stocks; ALTER NRG (TSX: NRG; OTCQX: ANRGF) ANNOUNCES BEING RECOGNIZED AS A FINALIST IN THE PLATTS GLOBAL ENERGY AWARDS AND THE ERNST AND YOUNG ENTREPRENEUR OF THE YEAR
Cleantech Stocks; ALTER NRG (TSX: NRG; OTCQX: ANRGF) ANNOUNCES BEING RECOGNIZED AS A FINALIST IN THE PLATTS GLOBAL ENERGY AWARDS AND THE ERNST AND YOUNG ENTREPRENEUR OF THE YEAR
CALGARY, (http://www.investorideas.com/ clean energy stocks blog ) (TSX: NRG; OTCQX: ANRGF) Alter NRG Corp. ("Alter NRG" or the "Company") is pleased to announce that Alter NRG has been named a finalist by Platts in two categories - Rising Star and Green Energy Initiative of the Year. As well, Mark Montemurro, President and CEO of Alter NRG has been named a finalist for the Ernst and Young Entrepreneur of the Year Award for the second straight year in the Cleantech category, Prairie division.
Over the past eleven years the Platts Global Energy Awards have become a prestigious honour, recognizing those that reach beyond the status quo in the name of excellence in leadership, innovation and performance. The awards receive more than 200 nominations each year from over 30 countries including Brazil, India, Puerto Rico, Saudi Arabia, South Africa, Spain, Russia, Switzerland, Argentina, China, Pakistan, Bangladesh, Thailand, United Kingdom and the United States. The Platts Global Energy Awards have been described by past entrants and winners as both the "World Series" and "Academy Awards" of energy.
The Ernst and Young Entrepreneur of the Year recognizes high-achieving entrepreneurs in Canada and around the world who drive growth, build communities and transform industries. The Canadian program is in its 17th year of honoring the country's most impressive entrepreneurs from all areas of business.
"This year's Prairies finalists have transformed innovative ideas into viable, sustainable enterprises, created jobs and built thriving communities," says David Boomer, Director of Entrepreneur of the Year for the Prairies region. "By showing tremendous focus and strength of character, these leaders have successfully taken their businesses to the next level."
Mike Heier, Director and Chairman of Alter NRG comments, "it is rewarding to see the efforts of Alter NRG become recognized both locally and on a global level through these nominations. Commercializing technology is hard work and presents many challenges. However, providing sustainable energy solutions is something our Company is passionate about, and we feel honored to be nominated and recognized for our efforts."
ABOUT ALTER NRG
Alter NRG is pursuing alternative energy solutions to meet the growing demand for environmentally responsible energy in world markets. The Company's vision is to commercialize growth technologies through environmentally sustainable and economically viable alternative energy projects. The Company's objectives are twofold; First, is to further commercialize the Westinghouse Plasma Gasification Technology, a wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstocks, and providing a wide variety of energy outputs - including liquid fuels like ethanol and diesel, electrical power, and syngas; Second, to capitalize on the rapidly growing geoexchange residential and commercial heating and cooling market through a wholly owned subsidiary CleanEnergy that enables consumers to reduce their carbon footprint and reduce the cost and volatility of energy bills using the energy from the earth.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
Advisory Respecting Forward-Looking Statements:
This news release contains certain "forward-looking information and statements" within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "confident", "might" and similar expressions are intended to identify forward-looking information or statements. In particular, this new release contains forward looking statements pertaining to capital expenditures, schedules and commencement of operations of existing projects and projects under development; availability of project financing; timing of sales; industry trends; factors influencing capital investments and development activities; the Corporation's reputation and market position within the industries in which it operates and the Corporation's strategy and competitive advantages. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.
The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements reflect management's current beliefs and assumptions, based on information currently available to management. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, many of which are beyond the control of the Corporation. Among the material factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: that the information is of a preliminary nature and may be subject to further adjustment; unforeseen environmental effects;Technip's ability to market projects effectively, arrangements with key suppliers; potential product liability and other claims; risks associated with the proprietary technology; closing on grants and incentives, the possible unavailability of financing at competitive rates and the related effect on development activities; changes in government regulation, including changes to environmental regulations; the effects of competition; the dependence on senior management and key personnel, and fluctuations in currency exchange rates and interest rates, as well as those factors discussed in or referred to under the heading "Risk Factors" in the Company's Annual Information Form dated March 29, 2010 available at www.sedar.com. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements.
The Corporation cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Corporation assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.
Contacts
Mark Montemurro
President and Chief Executive Officer
(403) 806-3877
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
. Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
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CALGARY, (http://www.investorideas.com/ clean energy stocks blog ) (TSX: NRG; OTCQX: ANRGF) Alter NRG Corp. ("Alter NRG" or the "Company") is pleased to announce that Alter NRG has been named a finalist by Platts in two categories - Rising Star and Green Energy Initiative of the Year. As well, Mark Montemurro, President and CEO of Alter NRG has been named a finalist for the Ernst and Young Entrepreneur of the Year Award for the second straight year in the Cleantech category, Prairie division.
Over the past eleven years the Platts Global Energy Awards have become a prestigious honour, recognizing those that reach beyond the status quo in the name of excellence in leadership, innovation and performance. The awards receive more than 200 nominations each year from over 30 countries including Brazil, India, Puerto Rico, Saudi Arabia, South Africa, Spain, Russia, Switzerland, Argentina, China, Pakistan, Bangladesh, Thailand, United Kingdom and the United States. The Platts Global Energy Awards have been described by past entrants and winners as both the "World Series" and "Academy Awards" of energy.
The Ernst and Young Entrepreneur of the Year recognizes high-achieving entrepreneurs in Canada and around the world who drive growth, build communities and transform industries. The Canadian program is in its 17th year of honoring the country's most impressive entrepreneurs from all areas of business.
"This year's Prairies finalists have transformed innovative ideas into viable, sustainable enterprises, created jobs and built thriving communities," says David Boomer, Director of Entrepreneur of the Year for the Prairies region. "By showing tremendous focus and strength of character, these leaders have successfully taken their businesses to the next level."
Mike Heier, Director and Chairman of Alter NRG comments, "it is rewarding to see the efforts of Alter NRG become recognized both locally and on a global level through these nominations. Commercializing technology is hard work and presents many challenges. However, providing sustainable energy solutions is something our Company is passionate about, and we feel honored to be nominated and recognized for our efforts."
ABOUT ALTER NRG
Alter NRG is pursuing alternative energy solutions to meet the growing demand for environmentally responsible energy in world markets. The Company's vision is to commercialize growth technologies through environmentally sustainable and economically viable alternative energy projects. The Company's objectives are twofold; First, is to further commercialize the Westinghouse Plasma Gasification Technology, a wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstocks, and providing a wide variety of energy outputs - including liquid fuels like ethanol and diesel, electrical power, and syngas; Second, to capitalize on the rapidly growing geoexchange residential and commercial heating and cooling market through a wholly owned subsidiary CleanEnergy that enables consumers to reduce their carbon footprint and reduce the cost and volatility of energy bills using the energy from the earth.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
Advisory Respecting Forward-Looking Statements:
This news release contains certain "forward-looking information and statements" within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "confident", "might" and similar expressions are intended to identify forward-looking information or statements. In particular, this new release contains forward looking statements pertaining to capital expenditures, schedules and commencement of operations of existing projects and projects under development; availability of project financing; timing of sales; industry trends; factors influencing capital investments and development activities; the Corporation's reputation and market position within the industries in which it operates and the Corporation's strategy and competitive advantages. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.
The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements reflect management's current beliefs and assumptions, based on information currently available to management. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, many of which are beyond the control of the Corporation. Among the material factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: that the information is of a preliminary nature and may be subject to further adjustment; unforeseen environmental effects;Technip's ability to market projects effectively, arrangements with key suppliers; potential product liability and other claims; risks associated with the proprietary technology; closing on grants and incentives, the possible unavailability of financing at competitive rates and the related effect on development activities; changes in government regulation, including changes to environmental regulations; the effects of competition; the dependence on senior management and key personnel, and fluctuations in currency exchange rates and interest rates, as well as those factors discussed in or referred to under the heading "Risk Factors" in the Company's Annual Information Form dated March 29, 2010 available at www.sedar.com. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements.
The Corporation cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Corporation assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.
Contacts
Mark Montemurro
President and Chief Executive Officer
(403) 806-3877
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
. Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
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Cleantech Stocks ; Wescorp (OTCBB:WSCE) Appoints Ken James, P.Eng. to its Board of Directors
Cleantech Stocks ; Wescorp (OTCBB:WSCE) Appoints Ken James, P.Eng. to its Board of Directors
CALGARY, ALBERTA - October 5, 2010 (Investorideas.com Water Stocks Newswire) - Wescorp Energy Inc. (OTC.BB:WSCE), a clean water technology company focused on implementing its low-cost solutions into several markets, including the oil & gas and marine industries, announced today that Ken James, P.Eng. has been appointed to the Board of Directors and will lead the Board's technical oversight of Wescorp's technology development.
Mr. James is the founder, director and Executive VP of Project and Technology Development for KemeX, a company that has been providing consulting services to the oil and gas and petrochemical industries for over fifteen years. Ken has extensive project and operating plant experience across a broad range of hydrocarbon processing facilities in domestic and international settings. Ken has also been an industry adviser often called upon to assess emerging technologies and instrumental in developing new SAGD technologies, which provides him insight into the opportunities and challenges ahead for Wescorp. A chemical engineer by trade, Ken brings a unique blend of technical expertise, business acumen and established relationships with the customer markets on which Wescorp is focused.
"We continue to strengthen both our board and management team," said Robert G. Power, Chairman of Wescorp. "Ken will play an important role in identifying high priority opportunities for H2Omaxx (our leading oil-water separation technology), understanding the customer needs, and providing guidance for the evolution of our technology program."
Ken James said that "I'm excited to join the Wescorp Board of Directors. I visited the H2Omaxx unit in operation at the Cancen site, and can readily appreciate potential for this technology. Water treating issues have become major issues in the oil sands and shale gas industries, which I believe will constitute the majority of oil and gas activity for many years in Alberta and abroad. New technology is required to improve water management and the H2Omaxx technology can provide an environmentally safe, cost effective means to manage these challenging issues. I am pleased to have the opportunity to contribute to the development of this exciting company."
About Wescorp
Wescorp Energy Inc. (www.wescorpenergy.com) is a clean water solutions company focused on implementing its superior yet low cost solutions into the oil and gas production industry.
Safe Harbor Statement
Any statements contained herein that are not historical facts may be forward-looking statements, and involve risks and uncertainties. Potential factors could cause actual results to differ materially from those expressed or implied by such statements. Information on the potential factors that could affect the Company's actual results of operations is included in its filings with the Securities and Exchange Commission. These risks may be further discussed in periodic reports and registration statements to be filed by the Company from time to time with the Securities and Exchange Commission in the future.
Investor Relations Contact:
Bibicoff + MacInnis, Inc.
Terri MacInnis, Dir. of Investor Relations
818-379-8500
terri@bibimac.com
Visit the WSCE showcase profile at Investorideas.com - http://www.investorideas.com/CO/WSCE/
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Disclosure, Disclaimer/ WSCE is a paid advertising client on Investorideas.com and our water and renewable-energy portals (twenty five hundred from 3rd party plus stock options at .25)
More Info:
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Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
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CALGARY, ALBERTA - October 5, 2010 (Investorideas.com Water Stocks Newswire) - Wescorp Energy Inc. (OTC.BB:WSCE), a clean water technology company focused on implementing its low-cost solutions into several markets, including the oil & gas and marine industries, announced today that Ken James, P.Eng. has been appointed to the Board of Directors and will lead the Board's technical oversight of Wescorp's technology development.
Mr. James is the founder, director and Executive VP of Project and Technology Development for KemeX, a company that has been providing consulting services to the oil and gas and petrochemical industries for over fifteen years. Ken has extensive project and operating plant experience across a broad range of hydrocarbon processing facilities in domestic and international settings. Ken has also been an industry adviser often called upon to assess emerging technologies and instrumental in developing new SAGD technologies, which provides him insight into the opportunities and challenges ahead for Wescorp. A chemical engineer by trade, Ken brings a unique blend of technical expertise, business acumen and established relationships with the customer markets on which Wescorp is focused.
"We continue to strengthen both our board and management team," said Robert G. Power, Chairman of Wescorp. "Ken will play an important role in identifying high priority opportunities for H2Omaxx (our leading oil-water separation technology), understanding the customer needs, and providing guidance for the evolution of our technology program."
Ken James said that "I'm excited to join the Wescorp Board of Directors. I visited the H2Omaxx unit in operation at the Cancen site, and can readily appreciate potential for this technology. Water treating issues have become major issues in the oil sands and shale gas industries, which I believe will constitute the majority of oil and gas activity for many years in Alberta and abroad. New technology is required to improve water management and the H2Omaxx technology can provide an environmentally safe, cost effective means to manage these challenging issues. I am pleased to have the opportunity to contribute to the development of this exciting company."
About Wescorp
Wescorp Energy Inc. (www.wescorpenergy.com) is a clean water solutions company focused on implementing its superior yet low cost solutions into the oil and gas production industry.
Safe Harbor Statement
Any statements contained herein that are not historical facts may be forward-looking statements, and involve risks and uncertainties. Potential factors could cause actual results to differ materially from those expressed or implied by such statements. Information on the potential factors that could affect the Company's actual results of operations is included in its filings with the Securities and Exchange Commission. These risks may be further discussed in periodic reports and registration statements to be filed by the Company from time to time with the Securities and Exchange Commission in the future.
Investor Relations Contact:
Bibicoff + MacInnis, Inc.
Terri MacInnis, Dir. of Investor Relations
818-379-8500
terri@bibimac.com
Visit the WSCE showcase profile at Investorideas.com - http://www.investorideas.com/CO/WSCE/
Request News and Info on WSCE
Disclosure, Disclaimer/ WSCE is a paid advertising client on Investorideas.com and our water and renewable-energy portals (twenty five hundred from 3rd party plus stock options at .25)
More Info:
Published at www.Investorideas.com - Global research by sectors
If you have any questions regarding information in this press release please contact the company listed in the press release.
Connect with Investorideas.com Publish Your News - Send a release
Disclaimer: The following news is paid for and /or published as information only for our readers. Investorideas.com is a third party publisher of news and research .Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. This site is currently compensated by featured companies, news submissions and online advertising.
Investorideas.com Disclaimer: http://www.investorideas.com/About/Disclaimer.asp
Investorideas.com Disclosure: http://www.investorideas.com/About/News/Clientspecifics.asp
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors: Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/.
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
Monday, October 04, 2010
Cleantech News; French Cleantech launches its new website
Cleantech News; French Cleantech launches its new website www.frenchcleantech.com
LYON, FRANCE--(http://www.investorideas.com/ clean energy stocks blog) - October 4, 2010) - French Cleantech launches its news website www.frenchcleantech.com. Founded in 2008, French Cleantech is the only cleantech innovation showcase dedicated to promote french cleantech expertises and innovations globally through a panel of more than 100 company profiles, an audience from 80 countries and 12 international partners.
French Cleantech brings in-depth knowledge of french cleantech innovations to investors, industrials and public authorities. This new website offers a unique selection of promising companies thanks to:
- Company executive summaries
- A presentation through 11 categories*: air & environment, agriculture, energy efficiency, energy generation, energy storage, manufacturing/industrial, materials, infrastructure, recycling & waste, transportation, water and wastewater.
- A weekly tracking of a new french cleantech innovation
- A multicriteria search tool by region, category and size
"France is known for its high innovation capability. Unfortunately too many technologies are still in the dark and have a lack of visibility on a global cleantech market. That's why we have been working since 2008 to give them international exposure with an audience of investors, industrials, and institutions. Our goal is to structure the French cleantech innovations in 11 categories based on the Cleantech Group segments. With this positioning, our ambition is to reach 200 company profiles in 2011" said Albin Jourda, Founder and CEO, French Cleantech.
A cleantech showcase with 3 aims
Providing international exposure for cleantech companies, French Cleantech aims at:
- Promoting innovations & territories
- Facilitating fund raising
- Giving an easily access to foreign markets
International partners & major cleantech events presence
Through this positioning, French Cleantech has achieved:
- An international audience from 80 countries: Australia, Brazil, Canada, China, Denmark, Germany, Holland, India, Italy, Japan, Sweden, UK, USA.
- Partnerships with cleantech organizations as Australian Cleantech, Cleantech Group, Cleantech Holland, Green Japan, Swiss Cleantech...
- A presence at major international cleantech events: Stockholm Cleantech Venture Day ( September 30th), Cleantech Forum New York (October 11-13th), French MBA Conference NY (October 15-16th), European Venture Market (November 9-10th), The CleanTech Investing Seminar (December 1-2), etc.
About French Cleantech - www.frenchcleantech.com
Founded in 2008, French Cleantech is the only cleantech showcase dedicated to french cleantech companies.
With more than 100 cleantech company profiles, an audience from over 80 countries and 12 international partners, French Cleantech offers a unique overview of the most promising cleantech innovations from France.
French Cleantech was founded by Albin Jourda.
Albin Jourda has over 10 years experience in fund raising and M&A in the high-tech, biotech and cleantech sectors in U.S and UK investment banks (Canaccord Adams - Boston and San Francisco, Regent Associates - Paris). He has a M.S in Finance from EM Lyon, a Postgraduate in Economics from the Lyon II University and an Executive Program Certificate from Babson (Boston). Albin is frequently invited as a speaker on cleantech events and also writes articles for various publications on the cleantech industry.
Follow French Cleantech on :
LinkedIn / Facebook / Twitter
* Categories based on the Cleantech group segments
PRESS CONTACT - AMALTHEA
Julie Barbaras - Tél : +33 4 26 23 41 48 - Email : jbarbaras@amalthea.fr
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/.
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
LYON, FRANCE--(http://www.investorideas.com/ clean energy stocks blog) - October 4, 2010) - French Cleantech launches its news website www.frenchcleantech.com. Founded in 2008, French Cleantech is the only cleantech innovation showcase dedicated to promote french cleantech expertises and innovations globally through a panel of more than 100 company profiles, an audience from 80 countries and 12 international partners.
French Cleantech brings in-depth knowledge of french cleantech innovations to investors, industrials and public authorities. This new website offers a unique selection of promising companies thanks to:
- Company executive summaries
- A presentation through 11 categories*: air & environment, agriculture, energy efficiency, energy generation, energy storage, manufacturing/industrial, materials, infrastructure, recycling & waste, transportation, water and wastewater.
- A weekly tracking of a new french cleantech innovation
- A multicriteria search tool by region, category and size
"France is known for its high innovation capability. Unfortunately too many technologies are still in the dark and have a lack of visibility on a global cleantech market. That's why we have been working since 2008 to give them international exposure with an audience of investors, industrials, and institutions. Our goal is to structure the French cleantech innovations in 11 categories based on the Cleantech Group segments. With this positioning, our ambition is to reach 200 company profiles in 2011" said Albin Jourda, Founder and CEO, French Cleantech.
A cleantech showcase with 3 aims
Providing international exposure for cleantech companies, French Cleantech aims at:
- Promoting innovations & territories
- Facilitating fund raising
- Giving an easily access to foreign markets
International partners & major cleantech events presence
Through this positioning, French Cleantech has achieved:
- An international audience from 80 countries: Australia, Brazil, Canada, China, Denmark, Germany, Holland, India, Italy, Japan, Sweden, UK, USA.
- Partnerships with cleantech organizations as Australian Cleantech, Cleantech Group, Cleantech Holland, Green Japan, Swiss Cleantech...
- A presence at major international cleantech events: Stockholm Cleantech Venture Day ( September 30th), Cleantech Forum New York (October 11-13th), French MBA Conference NY (October 15-16th), European Venture Market (November 9-10th), The CleanTech Investing Seminar (December 1-2), etc.
About French Cleantech - www.frenchcleantech.com
Founded in 2008, French Cleantech is the only cleantech showcase dedicated to french cleantech companies.
With more than 100 cleantech company profiles, an audience from over 80 countries and 12 international partners, French Cleantech offers a unique overview of the most promising cleantech innovations from France.
French Cleantech was founded by Albin Jourda.
Albin Jourda has over 10 years experience in fund raising and M&A in the high-tech, biotech and cleantech sectors in U.S and UK investment banks (Canaccord Adams - Boston and San Francisco, Regent Associates - Paris). He has a M.S in Finance from EM Lyon, a Postgraduate in Economics from the Lyon II University and an Executive Program Certificate from Babson (Boston). Albin is frequently invited as a speaker on cleantech events and also writes articles for various publications on the cleantech industry.
Follow French Cleantech on :
LinkedIn / Facebook / Twitter
* Categories based on the Cleantech group segments
PRESS CONTACT - AMALTHEA
Julie Barbaras - Tél : +33 4 26 23 41 48 - Email : jbarbaras@amalthea.fr
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/.
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
Solar Stocks; Enbridge and First Solar (NASDAQ:FSLR) Complete the Largest Photovoltaic Facility in the World
Solar Stocks; Enbridge and First Solar (NASDAQ:FSLR) Complete the Largest Photovoltaic Facility in the World
CALGARY, ALBERTA and TEMPE, ARIZONA--(http://www.investorideas.com/ clean energy stocks blog ) 10/04/10) -
Enbridge Inc. (TSX:ENB (NYSE:ENB and First Solar, Inc. (NASDAQ:FSLR) have achieved commercial operation of the 80-megawatt (MW) Sarnia Solar Project, making it the largest operating photovoltaic facility in the world.
The project complements Enbridge's significant and growing portfolio of green energy assets that includes interests in seven wind farms, a geothermal project, four waste heat recovery facilities and a commercial application of integrated energy recovery and fuel cell technology.
"Our investments in green energy are an increasingly important part of Enbridge's business," said Al Monaco, Executive Vice President, Major Projects and Green Energy, Enbridge Inc. "Over the last year, we added four new projects totaling $1.5 billion, increasing our total green energy investment to $2 billion and establishing a solid platform for attractive and sustainable long-term growth with a risk-return profile consistent with our Liquids Pipelines and natural gas businesses."
"At the same time, our green energy assets deliver strong environmental benefits," added Mr. Monaco. "Enbridge intends to stabilize our environmental footprint at 2009 levels under a program that includes a commitment to generate a kilowatt of renewable energy for every kilowatt of power our operations consume. We will achieve this goal through projects like the Sarnia Solar Project."
The total generating capacity (in operation and under construction) of the green energy projects in which Enbridge has invested is almost 850 MW, which is enough energy to meet the needs of about 292,000 homes.
First Solar, a leading manufacturer of photovoltaic (PV) solar panels and provider of solar solutions, will operate and maintain the Sarnia Solar Project for Enbridge under a long-term contract. First Solar developed, engineered, and constructed the facility, using its advanced thin film solar panels.
"Completing the world's largest PV power plant demonstrates the migration of solar PV toward utility scale," said Frank De Rosa, First Solar's senior vice president of North American project development. "With this project, we expect to install 145 MW this year in North America."
In addition to generating about 120,000 MWh per year of emissions-free power, the Sarnia Solar Project produces no waste and uses PV technology that was designed to create the smallest carbon footprint of any PV technology available. Enbridge expects the facility to generate enough power to meet the needs of about 12,800 homes.
Enbridge will sell the power output of the facility to the Ontario Power Authority pursuant to 20-year Power Purchase Agreements under the terms of the Ontario government's Renewable Energy Standard Offer Program.
Development of the Sarnia Solar Project aligns not only with Enbridge's and First Solar's objectives, but with those of the Government of Ontario.
"The Sarnia Solar Project is an example of the kinds of renewable energy projects that have been developed under the Government of Ontario's Green Energy Act," said the Honourable Brad Duguid, Ontario Minister of Energy. "Ontario can now boast the largest solar farm in North America - it is projects like this one that are making us a leader in renewable energy and helping us all move towards a cleaner energy future."
"This is a significant project that not only helps power local homes and businesses with clean, renewable energy, but improves our air quality at the same time," said Maria Van Bommel, MPP for Lambton-Kent-Middlesex. "I'm proud that a McGuinty government policy is helping Sarnia-Lambton take the lead on solar power."
Sarnia Solar Energy at a glance:
Capacity peak: about 80 MW of emissions-free power
Power purchaser: Ontario Power Authority
Facility size: Located on 950 acres
Panel surface area: about 966,000 square metres, which is about 1.3 million
thin film panels (First Solar)
Annual yield: about 120,000 MWh
CO2 saving: over 39,000 tonnes per year
Jobs created: About 800 jobs created at construction peak, as well as
indirect benefits to dozens of businesses in the Sarnia area, including
engineering and design firms, construction subcontractors, suppliers and
service providers.
About Enbridge
Enbridge Inc., a Canadian company, is a North American leader in delivering energy and one of the Global 100 Most Sustainable Corporations. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a growing involvement in the natural gas transmission and midstream businesses, and is expanding its interests in renewable and green energy technologies including wind and solar energy, hybrid fuel cells and carbon dioxide sequestration. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. Enbridge employs approximately 6,000 people, primarily in Canada and the U.S. and is ranked as one of Canada's Greenest Employers, and one of the Top 100 Companies to Work for in Canada. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit enbridge.com.
About First Solar
First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. By continually driving down manufacturing costs, First Solar is delivering an economically viable alternative to fossil-fuel generation today. 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 http://www.firstsolar.com/.
For Enbridge Investors
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Enbridge believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings and American SEC filings. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Except as may be required by applicable securities laws, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
For First Solar InvestorsThis 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.
Downloadable photographs and video clips are available at www.enbridge.com/sarniasolarmedia
Contacts:
Enbridge Inc.
Jennifer Varey
Media
(403) 508-6563 or Toll Free: 1-888-992-0997jennifer.varey@enbridge.com
www.enbridge.com/sarniasolarmedia
Enbridge Inc.
Vern Yu
Investment Community
403) 231-3946
vern.yu@enbridge.com
First Solar, Inc.
Investor Contact
Larry Polizzotto
(602) 414-9315
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors: Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
CALGARY, ALBERTA and TEMPE, ARIZONA--(http://www.investorideas.com/ clean energy stocks blog ) 10/04/10) -
Enbridge Inc. (TSX:ENB (NYSE:ENB and First Solar, Inc. (NASDAQ:FSLR) have achieved commercial operation of the 80-megawatt (MW) Sarnia Solar Project, making it the largest operating photovoltaic facility in the world.
The project complements Enbridge's significant and growing portfolio of green energy assets that includes interests in seven wind farms, a geothermal project, four waste heat recovery facilities and a commercial application of integrated energy recovery and fuel cell technology.
"Our investments in green energy are an increasingly important part of Enbridge's business," said Al Monaco, Executive Vice President, Major Projects and Green Energy, Enbridge Inc. "Over the last year, we added four new projects totaling $1.5 billion, increasing our total green energy investment to $2 billion and establishing a solid platform for attractive and sustainable long-term growth with a risk-return profile consistent with our Liquids Pipelines and natural gas businesses."
"At the same time, our green energy assets deliver strong environmental benefits," added Mr. Monaco. "Enbridge intends to stabilize our environmental footprint at 2009 levels under a program that includes a commitment to generate a kilowatt of renewable energy for every kilowatt of power our operations consume. We will achieve this goal through projects like the Sarnia Solar Project."
The total generating capacity (in operation and under construction) of the green energy projects in which Enbridge has invested is almost 850 MW, which is enough energy to meet the needs of about 292,000 homes.
First Solar, a leading manufacturer of photovoltaic (PV) solar panels and provider of solar solutions, will operate and maintain the Sarnia Solar Project for Enbridge under a long-term contract. First Solar developed, engineered, and constructed the facility, using its advanced thin film solar panels.
"Completing the world's largest PV power plant demonstrates the migration of solar PV toward utility scale," said Frank De Rosa, First Solar's senior vice president of North American project development. "With this project, we expect to install 145 MW this year in North America."
In addition to generating about 120,000 MWh per year of emissions-free power, the Sarnia Solar Project produces no waste and uses PV technology that was designed to create the smallest carbon footprint of any PV technology available. Enbridge expects the facility to generate enough power to meet the needs of about 12,800 homes.
Enbridge will sell the power output of the facility to the Ontario Power Authority pursuant to 20-year Power Purchase Agreements under the terms of the Ontario government's Renewable Energy Standard Offer Program.
Development of the Sarnia Solar Project aligns not only with Enbridge's and First Solar's objectives, but with those of the Government of Ontario.
"The Sarnia Solar Project is an example of the kinds of renewable energy projects that have been developed under the Government of Ontario's Green Energy Act," said the Honourable Brad Duguid, Ontario Minister of Energy. "Ontario can now boast the largest solar farm in North America - it is projects like this one that are making us a leader in renewable energy and helping us all move towards a cleaner energy future."
"This is a significant project that not only helps power local homes and businesses with clean, renewable energy, but improves our air quality at the same time," said Maria Van Bommel, MPP for Lambton-Kent-Middlesex. "I'm proud that a McGuinty government policy is helping Sarnia-Lambton take the lead on solar power."
Sarnia Solar Energy at a glance:
Capacity peak: about 80 MW of emissions-free power
Power purchaser: Ontario Power Authority
Facility size: Located on 950 acres
Panel surface area: about 966,000 square metres, which is about 1.3 million
thin film panels (First Solar)
Annual yield: about 120,000 MWh
CO2 saving: over 39,000 tonnes per year
Jobs created: About 800 jobs created at construction peak, as well as
indirect benefits to dozens of businesses in the Sarnia area, including
engineering and design firms, construction subcontractors, suppliers and
service providers.
About Enbridge
Enbridge Inc., a Canadian company, is a North American leader in delivering energy and one of the Global 100 Most Sustainable Corporations. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a growing involvement in the natural gas transmission and midstream businesses, and is expanding its interests in renewable and green energy technologies including wind and solar energy, hybrid fuel cells and carbon dioxide sequestration. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. Enbridge employs approximately 6,000 people, primarily in Canada and the U.S. and is ranked as one of Canada's Greenest Employers, and one of the Top 100 Companies to Work for in Canada. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit enbridge.com.
About First Solar
First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. By continually driving down manufacturing costs, First Solar is delivering an economically viable alternative to fossil-fuel generation today. 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 http://www.firstsolar.com/.
For Enbridge Investors
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Enbridge believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings and American SEC filings. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Except as may be required by applicable securities laws, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
For First Solar InvestorsThis 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.
Downloadable photographs and video clips are available at www.enbridge.com/sarniasolarmedia
Contacts:
Enbridge Inc.
Jennifer Varey
Media
(403) 508-6563 or Toll Free: 1-888-992-0997jennifer.varey@enbridge.com
www.enbridge.com/sarniasolarmedia
Enbridge Inc.
Vern Yu
Investment Community
403) 231-3946
vern.yu@enbridge.com
First Solar, Inc.
Investor Contact
Larry Polizzotto
(602) 414-9315
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors: Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
Sunday, October 03, 2010
Green Stocks; GE (NYSE: GE) Expands Its Waste-to-Energy Capabilities, Acquiring Green Technology from Innovator Calnetix Power Solutions
Green Stocks; GE (NYSE: GE) Expands Its Waste-to-Energy Capabilities, Acquiring Green Technology from Innovator Calnetix Power Solutions
Move Allows GE’s Jenbacher Gas Engine Business to enter $1 Billion Waste Heat Recovery Segment
JENBACH, Austria & STUART, Fla.--(http://www.investorideas.com/ clean energy stocks blog )--Further expanding its diverse portfolio of power generation technologies, GE (NYSE: GE) today announced the acquisition of substantially all of the assets of Calnetix Power Solutions (CPS), a Florida-based company that develops innovative technology for small-scale, waste heat to power projects. Recovering waste heat from industrial processes and using it to produce electricity is a rapidly growing trend in the global power industry offering high efficiency and a reduced carbon footprint.
“It opens the door for utilizing GE’s diverse capabilities and resources to support and expand our technology. As proven through its earlier acquisitions of companies like Jenbacher and Enron Wind, GE is able to scale new power generation technologies quickly and effectively.”
.CPS offers well-proven waste heat to power technology to generate electricity using the waste heat of various types of engines, biomass boilers and gas turbines. The acquired business will be integrated into GE’s Jenbacher gas engine business, based in Jenbach, Austria. Today, much of the activity in the small-scale, waste heat recovery sector is centered in Europe.
“Alternative energy sources such as waste heat are growing in importance given the urgent global need for more efficient use of our limited resources. Acquiring CPS’s technology gives us a tremendous opportunity to enter this very promising, small-scale waste heat to power segment with a competitive, fully commercialized offering. Because of its energy efficiency and zero emissions, we see this industry sector as a $1 billion global space with high growth opportunities,” said Steve Bolze, president and CEO of GE Power & Water.
In addition to the CPS assets, GE also acquired certain underlying intellectual property from Calnetix, Inc., CPS’s parent company. All of the acquired assets, along with GE’s Jenbacher technical and distribution capabilities, will enable GE to provide advanced and comprehensive offerings for customers in the waste heat recovery power generation space.
“This suite of technology is a natural fit for our business,” said Prady Iyyanki, CEO—gas engines for GE Power & Water. “By adding CPS’s capabilities to our existing portfolio of turbines and engines using waste gases or other alternative energy sources, we are now well positioned to become the industry’s waste heat to power expert.”
GE’s existing gas engine technology covers an output range of 0.25 to 4.4 megawatts and can operate on a broad variety of gases while offering high levels of efficiency, durability and reliability.
“The acquisition combines the strength of two leading high-efficiency, power generation technologies,” said Brad Garner, president and CEO of Calnetix Power Solutions. “It opens the door for utilizing GE’s diverse capabilities and resources to support and expand our technology. As proven through its earlier acquisitions of companies like Jenbacher and Enron Wind, GE is able to scale new power generation technologies quickly and effectively.”
Since its acquisition by GE in 2003, GE’s Jenbacher gas engine business has continued to expand its manufacturing capacity and technology offerings to meet the growing demands of the alternative energy industry. Several of GE’s Jenbacher solutions are currently approved under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
About Calnetix Power Solutions
Based in Stuart, Fla., Calnetix Power Solutions manufactures green, energy efficient waste heat recovery systems for renewable and distributed energy markets. Prior to its acquisition by GE, Calnetix Power Solutions was a wholly owned subsidiary of Calnetix, Inc. a privately held company headquartered in Yorba Linda, Calif.
About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $37 billion, GE Energy www.ge.com/energy is one of the world’s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy—GE Power & Water, GE Energy Services and GE Oil & Gas—work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
Contacts
GE Energy
Martina Streiter
+43 5244 600 2470
Martina.streiter@ge.com
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors: Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
Move Allows GE’s Jenbacher Gas Engine Business to enter $1 Billion Waste Heat Recovery Segment
JENBACH, Austria & STUART, Fla.--(http://www.investorideas.com/ clean energy stocks blog )--Further expanding its diverse portfolio of power generation technologies, GE (NYSE: GE) today announced the acquisition of substantially all of the assets of Calnetix Power Solutions (CPS), a Florida-based company that develops innovative technology for small-scale, waste heat to power projects. Recovering waste heat from industrial processes and using it to produce electricity is a rapidly growing trend in the global power industry offering high efficiency and a reduced carbon footprint.
“It opens the door for utilizing GE’s diverse capabilities and resources to support and expand our technology. As proven through its earlier acquisitions of companies like Jenbacher and Enron Wind, GE is able to scale new power generation technologies quickly and effectively.”
.CPS offers well-proven waste heat to power technology to generate electricity using the waste heat of various types of engines, biomass boilers and gas turbines. The acquired business will be integrated into GE’s Jenbacher gas engine business, based in Jenbach, Austria. Today, much of the activity in the small-scale, waste heat recovery sector is centered in Europe.
“Alternative energy sources such as waste heat are growing in importance given the urgent global need for more efficient use of our limited resources. Acquiring CPS’s technology gives us a tremendous opportunity to enter this very promising, small-scale waste heat to power segment with a competitive, fully commercialized offering. Because of its energy efficiency and zero emissions, we see this industry sector as a $1 billion global space with high growth opportunities,” said Steve Bolze, president and CEO of GE Power & Water.
In addition to the CPS assets, GE also acquired certain underlying intellectual property from Calnetix, Inc., CPS’s parent company. All of the acquired assets, along with GE’s Jenbacher technical and distribution capabilities, will enable GE to provide advanced and comprehensive offerings for customers in the waste heat recovery power generation space.
“This suite of technology is a natural fit for our business,” said Prady Iyyanki, CEO—gas engines for GE Power & Water. “By adding CPS’s capabilities to our existing portfolio of turbines and engines using waste gases or other alternative energy sources, we are now well positioned to become the industry’s waste heat to power expert.”
GE’s existing gas engine technology covers an output range of 0.25 to 4.4 megawatts and can operate on a broad variety of gases while offering high levels of efficiency, durability and reliability.
“The acquisition combines the strength of two leading high-efficiency, power generation technologies,” said Brad Garner, president and CEO of Calnetix Power Solutions. “It opens the door for utilizing GE’s diverse capabilities and resources to support and expand our technology. As proven through its earlier acquisitions of companies like Jenbacher and Enron Wind, GE is able to scale new power generation technologies quickly and effectively.”
Since its acquisition by GE in 2003, GE’s Jenbacher gas engine business has continued to expand its manufacturing capacity and technology offerings to meet the growing demands of the alternative energy industry. Several of GE’s Jenbacher solutions are currently approved under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
About Calnetix Power Solutions
Based in Stuart, Fla., Calnetix Power Solutions manufactures green, energy efficient waste heat recovery systems for renewable and distributed energy markets. Prior to its acquisition by GE, Calnetix Power Solutions was a wholly owned subsidiary of Calnetix, Inc. a privately held company headquartered in Yorba Linda, Calif.
About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $37 billion, GE Energy www.ge.com/energy is one of the world’s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy—GE Power & Water, GE Energy Services and GE Oil & Gas—work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
Contacts
GE Energy
Martina Streiter
+43 5244 600 2470
Martina.streiter@ge.com
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors: Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
Clean Energy News; Government of Canada Announces Details of $400 million commitment for international climate change
Clean Energy News; Government of Canada Announces Details of $400 million commitment for international climate change
WATERLOO, ONTARIO--(http://www.investorideas.com/ clean energy stocks blog ) - Oct. 1, 2010) - Today, the Honourable Jim Prentice, Minister of the Environment, released the details of Canada's $400 million commitment for international climate change while speaking to the Centre for International Governance Innovation's annual conference.
"This represents Canada's largest ever contribution to support international efforts to address climate change and it will support three key areas in which Canada has considerable expertise: adaptation, clean energy, forests and agriculture," said Minister Prentice.
Funding for adaption will support critical on the ground projects that will build knowledge and adaptive capacity, while reducing vulnerability to natural disasters. Other funding will focus on mobilizing private sector investment in renewable energy and energy efficiency projects, and will provide technical assistance to developing countries as they work to implement these types of clean energy. Canada's contribution will also support projects in developing countries which are essential to laying the groundwork for ambitious global action on Reducing Emissions from Deforestation and Forest Degradation (REDD+).
Under the Copenhagen Accord, developed countries committed to provide fast-start financing approaching US$30 billion for 2010-2012 to support climate change mitigation, including financing for adaptation, capacity building, technology transfer and reducing greenhouse gas emissions from deforestation in developing countries.
As promised as part of the Accord, this investment represents the 2010 portion of Canada's fair share of the fast-start financing promised by developed countries under the Copenhagen Accord. While Canada contributes to 2 per cent of worldwide GHG emissions, it is contributing 4 per cent of the funding.
Canada will continue to work constructively to implement the Copenhagen Accord and to complete the negotiations under the UNFCCC for a comprehensive, legally binding post-2012 agreement that is fair, effective and comprehensive.
For the details of Canada's fast-start financing and the funding priorities, visit: www.climatechange.gc.ca/default.asp?lang=En&n=5F50D3E9-1.
For more information and to view a backgrounder on this announcement, please visit the Web site of Environment Canada at http://www.ec.gc.ca/.
(Egalement offert en francais)
For more information, please contact
Office of the Minister of the Environment
Pascale Boulay
Press Secretary
819-997-1441
or
Environment Canada
Media Relations
819-934-8008
1-888-908-8008
http://www.ec.gc.ca/
or
Canada's Environment Minister Twitter page:
http://twitter.com/jimprentice
or
Environment Canada's Facebook page:
http://www.facebook.com/environmentcan
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
WATERLOO, ONTARIO--(http://www.investorideas.com/ clean energy stocks blog ) - Oct. 1, 2010) - Today, the Honourable Jim Prentice, Minister of the Environment, released the details of Canada's $400 million commitment for international climate change while speaking to the Centre for International Governance Innovation's annual conference.
"This represents Canada's largest ever contribution to support international efforts to address climate change and it will support three key areas in which Canada has considerable expertise: adaptation, clean energy, forests and agriculture," said Minister Prentice.
Funding for adaption will support critical on the ground projects that will build knowledge and adaptive capacity, while reducing vulnerability to natural disasters. Other funding will focus on mobilizing private sector investment in renewable energy and energy efficiency projects, and will provide technical assistance to developing countries as they work to implement these types of clean energy. Canada's contribution will also support projects in developing countries which are essential to laying the groundwork for ambitious global action on Reducing Emissions from Deforestation and Forest Degradation (REDD+).
Under the Copenhagen Accord, developed countries committed to provide fast-start financing approaching US$30 billion for 2010-2012 to support climate change mitigation, including financing for adaptation, capacity building, technology transfer and reducing greenhouse gas emissions from deforestation in developing countries.
As promised as part of the Accord, this investment represents the 2010 portion of Canada's fair share of the fast-start financing promised by developed countries under the Copenhagen Accord. While Canada contributes to 2 per cent of worldwide GHG emissions, it is contributing 4 per cent of the funding.
Canada will continue to work constructively to implement the Copenhagen Accord and to complete the negotiations under the UNFCCC for a comprehensive, legally binding post-2012 agreement that is fair, effective and comprehensive.
For the details of Canada's fast-start financing and the funding priorities, visit: www.climatechange.gc.ca/default.asp?lang=En&n=5F50D3E9-1.
For more information and to view a backgrounder on this announcement, please visit the Web site of Environment Canada at http://www.ec.gc.ca/.
(Egalement offert en francais)
For more information, please contact
Office of the Minister of the Environment
Pascale Boulay
Press Secretary
819-997-1441
or
Environment Canada
Media Relations
819-934-8008
1-888-908-8008
http://www.ec.gc.ca/
or
Canada's Environment Minister Twitter page:
http://twitter.com/jimprentice
or
Environment Canada's Facebook page:
http://www.facebook.com/environmentcan
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
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Thursday, September 30, 2010
Investorideas.com - Nanotechnology Stocks; mPhase (OTC.BB:XDSL) Smart NanoBattery Featured in September 2010 Issue of Medical Products Manufacturing News
Investorideas.com - Nanotechnology Stocks; mPhase (OTC.BB:XDSL) Smart NanoBattery Featured in September 2010 Issue of Medical Products Manufacturing News
mPhase has sights on Medical Applications
LITTLE FALLS, NJ - September 30, 2010 (Investorideas.com Newswire) - mPhase Technologies, Inc. (OTC.BB:XDSL), a leader in the development of Smart Surfaces and advanced battery technologies today announced that its Smart NanoBattery is showcased in the September 2010 issue of Medical Products Manufacturing News.
The magazine's September issue includes a high resolution image of mPhase's porous silicon membrane, which is a core technology of the Smart NanoBattery's ability to precisely control the flow of liquids to create a new battery design having a shelf life of over 20 years. The article describes how the Smart NanoBattery capitalizes on MEMS technology and microfluidics to enable the machining of the silicon-based materials, while microfluidics controls the flow of liquid electrolyte through the battery's porous membrane and also enables filtration and separation of the liquid. While the liquid electrolyte is initially separated from the solid electrodes, microfluidic technology enables it to move through the membrane's pores to contact the electrodes when the battery is activated. The article goes on to describe how the underlying technology for regulating the flow of liquid to create a battery also has great potential for use in non battery applications.
While a Smart NanoBattery prototype is being developed under a work-program grant sponsored by the U.S. Army under a STTR program, Ron Durando, the CEO of mPhase says that mPhase has its sights on the medical device industry. "The battery has the potential to be suitable for external and implantable medical devices," he adds. "These can include devices such as glucose monitors and drug-release devices."
Medical Products Manufacturing News, is published by Cannon Communications LLC, a an organization specializing in medical magazines, newsletters and online web site focused on informing members of the medical community on news and forward looking devices and technologies having applications in the medical industry. The article on the Smart NanoBattery can be found on the online site with the following URL: http://www.qmed.com/mpmn/article/24212/smart-nanobattery-real-turn-and.
About mPhase Technologies, Inc.
mPhase Technologies is introducing a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and microfludics. Our Smart Surface technology has potential applications within drug delivery systems, lab-on-a-chip analytic systems, self-cleaning systems, liquid and chemical sensor systems, and filtration systems. mPhase has pioneered its first Smart Surface enabled product, the mPhase Smart NanoBattery.
\
In addition to the Smart Surface technology, mPhase recently introduced its first product the mPower Emergency Illuminator, an award winning product designed by Porsche Design Studio and sold via the mPower website: http://www.mpowertech.com.
More information about the company can be found at http://www.mPhaseTech.com.
Forward-Looking Statements
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's SEC Filing. mPhase assumes no obligation to update the information in this release.
Contact:
Danielle LaSallemPhase Technologies, Inc.973-256-3737
Visit the XDSL showcase profile at Investorideas.com Request News and Info on XDSL Disclosure, Disclaimer/
XDSL is a paid advertising client on Investorideas.com and our technology portals( five hundred per month )
Published at www.Investorideas.com - Global research by sectors
If you have any questions regarding information in this press release please contact the company listed in the press release.
Connect with Investorideas.com
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Investorideas.com Disclaimer: http://www.investorideas.com/About/Disclaimer.aspInvestorideas.com Disclosure: http://www.investorideas.com/About/News/Clientspecifics.asp
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mPhase has sights on Medical Applications
LITTLE FALLS, NJ - September 30, 2010 (Investorideas.com Newswire) - mPhase Technologies, Inc. (OTC.BB:XDSL), a leader in the development of Smart Surfaces and advanced battery technologies today announced that its Smart NanoBattery is showcased in the September 2010 issue of Medical Products Manufacturing News.
The magazine's September issue includes a high resolution image of mPhase's porous silicon membrane, which is a core technology of the Smart NanoBattery's ability to precisely control the flow of liquids to create a new battery design having a shelf life of over 20 years. The article describes how the Smart NanoBattery capitalizes on MEMS technology and microfluidics to enable the machining of the silicon-based materials, while microfluidics controls the flow of liquid electrolyte through the battery's porous membrane and also enables filtration and separation of the liquid. While the liquid electrolyte is initially separated from the solid electrodes, microfluidic technology enables it to move through the membrane's pores to contact the electrodes when the battery is activated. The article goes on to describe how the underlying technology for regulating the flow of liquid to create a battery also has great potential for use in non battery applications.
While a Smart NanoBattery prototype is being developed under a work-program grant sponsored by the U.S. Army under a STTR program, Ron Durando, the CEO of mPhase says that mPhase has its sights on the medical device industry. "The battery has the potential to be suitable for external and implantable medical devices," he adds. "These can include devices such as glucose monitors and drug-release devices."
Medical Products Manufacturing News, is published by Cannon Communications LLC, a an organization specializing in medical magazines, newsletters and online web site focused on informing members of the medical community on news and forward looking devices and technologies having applications in the medical industry. The article on the Smart NanoBattery can be found on the online site with the following URL: http://www.qmed.com/mpmn/article/24212/smart-nanobattery-real-turn-and.
About mPhase Technologies, Inc.
mPhase Technologies is introducing a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and microfludics. Our Smart Surface technology has potential applications within drug delivery systems, lab-on-a-chip analytic systems, self-cleaning systems, liquid and chemical sensor systems, and filtration systems. mPhase has pioneered its first Smart Surface enabled product, the mPhase Smart NanoBattery.
\
In addition to the Smart Surface technology, mPhase recently introduced its first product the mPower Emergency Illuminator, an award winning product designed by Porsche Design Studio and sold via the mPower website: http://www.mpowertech.com.
More information about the company can be found at http://www.mPhaseTech.com.
Forward-Looking Statements
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's SEC Filing. mPhase assumes no obligation to update the information in this release.
Contact:
Danielle LaSallemPhase Technologies, Inc.973-256-3737
Visit the XDSL showcase profile at Investorideas.com Request News and Info on XDSL Disclosure, Disclaimer/
XDSL is a paid advertising client on Investorideas.com and our technology portals( five hundred per month )
Published at www.Investorideas.com - Global research by sectors
If you have any questions regarding information in this press release please contact the company listed in the press release.
Connect with Investorideas.com
Publish Your News - Send a release
Disclaimer: The following news is paid for and /or published as information only for our readers. Investorideas.com is a third party publisher of news and research .Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. This site is currently compensated by featured companies, news submissions and online advertising.
Investorideas.com Disclaimer: http://www.investorideas.com/About/Disclaimer.aspInvestorideas.com Disclosure: http://www.investorideas.com/About/News/Clientspecifics.asp
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(TSX VENTURE:GAE) News; GreenAngel Energy Company Raises USD$7.5 Million and Adds US VC to Board
(TSX VENTURE:GAE) News; GreenAngel Energy Company Raises USD$7.5 Million and Adds US VC to Board
VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ clean energy stocks blog ) Sept. 30, 2010) - GreenAngel Energy Corporation ("GreenAngel") (TSX VENTURE:GAE) reports that investee company Light-Based Technologies Inc. ("LBT") have closed a financing round totaling 7.5 million US dollars.
The Series B round of investment was lead by VantagePoint Venture Partners based in San Bruno, CA. As part of the investment, VantagePoint's Managing Director, Marc van den Berg has joined the board of LBT.
GreenAngel currently holds 1,560,000 shares in LBT. The funding will be used primarily to expand sales efforts to Tier 1 customers, as well as to build on and expand the existing intellectual property portfolio that LBT is commercializing.
Comments LBT CEO Jeanette Jackson, "Having VantagePoint as a lead investor and adding Marc to our board with this investment will open doors for LBT that were previously difficult to get open. With more than $4.5 billion under management and a portfolio of companies in the same industry as LBT, we look forward to taking full advantage of the synergies and connections that they will bring as we scale up our licensing and sales efforts."
Michael Volker, Chairman of GreenAngel comments, "LBT's rapid progression in the commercialization of their technology is a great example of how the GreenAngel model can work to the benefit of both the company and investors. We're thrilled that LBT will be adding a prominent US VC to the shareholder base and look forward to this next phase of growth with a focus on sales."
About GreenAngel Energy
GreenAngel Energy Corp. is a green energy technology company. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also provides business and advisory services to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Light-Based Technologies, Habitat Enterprises, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies. For more information, please visit www.greenangelenergy.ca.
ON BEHALF OF THE BOARD
Bob de Wit, CEO and Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's listing of its common shares on the TSX Venture Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For more information, please contact
GreenAngel Energy Corp.
Bob de Wit
CEO and Director
(604) 916-3434
http://www.greenangelenergy.ca/
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/.
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VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ clean energy stocks blog ) Sept. 30, 2010) - GreenAngel Energy Corporation ("GreenAngel") (TSX VENTURE:GAE) reports that investee company Light-Based Technologies Inc. ("LBT") have closed a financing round totaling 7.5 million US dollars.
The Series B round of investment was lead by VantagePoint Venture Partners based in San Bruno, CA. As part of the investment, VantagePoint's Managing Director, Marc van den Berg has joined the board of LBT.
GreenAngel currently holds 1,560,000 shares in LBT. The funding will be used primarily to expand sales efforts to Tier 1 customers, as well as to build on and expand the existing intellectual property portfolio that LBT is commercializing.
Comments LBT CEO Jeanette Jackson, "Having VantagePoint as a lead investor and adding Marc to our board with this investment will open doors for LBT that were previously difficult to get open. With more than $4.5 billion under management and a portfolio of companies in the same industry as LBT, we look forward to taking full advantage of the synergies and connections that they will bring as we scale up our licensing and sales efforts."
Michael Volker, Chairman of GreenAngel comments, "LBT's rapid progression in the commercialization of their technology is a great example of how the GreenAngel model can work to the benefit of both the company and investors. We're thrilled that LBT will be adding a prominent US VC to the shareholder base and look forward to this next phase of growth with a focus on sales."
About GreenAngel Energy
GreenAngel Energy Corp. is a green energy technology company. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also provides business and advisory services to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Light-Based Technologies, Habitat Enterprises, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies. For more information, please visit www.greenangelenergy.ca.
ON BEHALF OF THE BOARD
Bob de Wit, CEO and Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's listing of its common shares on the TSX Venture Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For more information, please contact
GreenAngel Energy Corp.
Bob de Wit
CEO and Director
(604) 916-3434
http://www.greenangelenergy.ca/
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/.
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
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Green Stocks; A-Power Energy Generation Systems, Ltd (Nasdaq: APWR) Announces EPC Contract with Liancheng Thermal Power Plant of Hailun City
Green Stocks; A-Power Energy Generation Systems, Ltd (Nasdaq: APWR) Announces EPC Contract with Liancheng Thermal Power Plant of Hailun City
SHENYANG, China, Sept. 30 /( www.investorideas.com renewable energy/green newswire ) -- A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) ("A-Power" or the "Company"), a leading provider of distributed power generation systems in China and a fast-growing manufacturer of wind turbines, today announced the signing of an EPC contract to build two 12MW and two 75t/h power plant projects in Liancheng, a total contract value of RMB 242 million.
Mr. Jinxiang Lu, A-Power's Chairman and CEO, commented, "We are very excited to see an additional win in our core distributed generation (DG) business in China. Our Liaoning Hi-Tech (GaoKe) Energy Group subsidiary continues to build a strong pipeline of business for A-Power, expanding our customer base, geographic footprint as well as gaining further expertise in the DG business."
Liaoning Hi-tech (GaoKe) Energy Group, A-Power's wholly-owned subsidiary and EPC (engineering, procurement, and construction) contractor for this project, will be responsible for all the planning, engineering, and construction within the power stations.
The Company anticipates that it will recognize revenue over the 19-month anticipated implementation period on the percentage of completion method it customarily employs for projects in its DG business.
About A-Power
A-Power Energy Generation Systems, Ltd. ("A-Power"), through its China-based operating subsidiaries, is a leading provider of distributed power generation systems in China and is expanding into the production of alternative power generation systems. Focusing on energy-efficient and environmentally friendly DG projects of 25MW to 400MW, A-Power also operates one of the largest wind turbine manufacturing facilities in China and in March 2009, entered into an agreement to establish a partnership with W2E Wind To Energy GmbH to produce wind turbine gearboxes in Shenyang, Liaoning Province. It also acquired Evatech, a designer and manufacturer of industrial equipment for amorphous-silicon (a-Si) photovoltaic (PV) panels, in 2010.
In addition to the establishment of strategic relationships with the world's leading wind energy design and engineering companies, A-Power has formed joint research programs with Tsinghua University and the China Academy of Sciences to develop and commercialize other renewable energy technologies. For more information, please visit http://www.apowerenergy.com/
Safe Harbor Statement
This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may", "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new lines of business and jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.
For more information, please contact:
A-Power Energy Generation Systems
John S. Lin
Chief Operating Officer
Email: john@apowerenergy.com
SOURCE A-Power Energy Generation Systems, Ltd.
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
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SHENYANG, China, Sept. 30 /( www.investorideas.com renewable energy/green newswire ) -- A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) ("A-Power" or the "Company"), a leading provider of distributed power generation systems in China and a fast-growing manufacturer of wind turbines, today announced the signing of an EPC contract to build two 12MW and two 75t/h power plant projects in Liancheng, a total contract value of RMB 242 million.
Mr. Jinxiang Lu, A-Power's Chairman and CEO, commented, "We are very excited to see an additional win in our core distributed generation (DG) business in China. Our Liaoning Hi-Tech (GaoKe) Energy Group subsidiary continues to build a strong pipeline of business for A-Power, expanding our customer base, geographic footprint as well as gaining further expertise in the DG business."
Liaoning Hi-tech (GaoKe) Energy Group, A-Power's wholly-owned subsidiary and EPC (engineering, procurement, and construction) contractor for this project, will be responsible for all the planning, engineering, and construction within the power stations.
The Company anticipates that it will recognize revenue over the 19-month anticipated implementation period on the percentage of completion method it customarily employs for projects in its DG business.
About A-Power
A-Power Energy Generation Systems, Ltd. ("A-Power"), through its China-based operating subsidiaries, is a leading provider of distributed power generation systems in China and is expanding into the production of alternative power generation systems. Focusing on energy-efficient and environmentally friendly DG projects of 25MW to 400MW, A-Power also operates one of the largest wind turbine manufacturing facilities in China and in March 2009, entered into an agreement to establish a partnership with W2E Wind To Energy GmbH to produce wind turbine gearboxes in Shenyang, Liaoning Province. It also acquired Evatech, a designer and manufacturer of industrial equipment for amorphous-silicon (a-Si) photovoltaic (PV) panels, in 2010.
In addition to the establishment of strategic relationships with the world's leading wind energy design and engineering companies, A-Power has formed joint research programs with Tsinghua University and the China Academy of Sciences to develop and commercialize other renewable energy technologies. For more information, please visit http://www.apowerenergy.com/
Safe Harbor Statement
This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may", "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new lines of business and jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.
For more information, please contact:
A-Power Energy Generation Systems
John S. Lin
Chief Operating Officer
Email: john@apowerenergy.com
SOURCE A-Power Energy Generation Systems, Ltd.
News and Stories Published at www.investorideas.com Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
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Wednesday, September 29, 2010
Agriculture Stocks ; Hanfeng (TSX: HF.TO) Announces Financial Results for Fiscal 2010 and Provides Operational Updates
Agriculture Stocks ; Hanfeng (TSX: HF.TO) Announces Financial Results for Fiscal 2010 and Provides Operational Updates
ORONTO, ONTARIO--(http://www.investorideas.com/ clean energy blog ) - Hanfeng Evergreen Inc. (TSX: HF.TO) ("Hanfeng" or the "Company") reported its financial results for the fourth quarter and year ended, June 30, 2010 and provided several operational updates. Hanfeng changed its fiscal year-end from December 31 to June 30, effective from June 30, 2009. Therefore, Hanfeng's comparative period for fiscal 2010 is a 6 month audited period ended June 30, 2009. For a more meaningful comparative, the key financial results of fiscal 2010 were compared to the twelve-month period ended June 30, 2009, which is not an audited period. During the fourth quarter and fiscal year 2010, the Canadian dollar appreciated approximately 14 percent and 8 percent to the Chinese Renminbi (RMB) respectively. Although Hanfeng earns almost all of its revenue and pays all of its suppliers in RMB, it reports its financial results in Canadian dollars and the appreciation of the RMB has a negative impact on reported results. All amounts are in Canadian dollars unless otherwise noted.
Summary Financial Results
----------------------------------------------------------------------------
For the 3 month period For the 12 month period
(in thousands in $Cdn) ended June 30 ended June 30
except percentages and ---------------------------------------------------
per share data 2010 2009 2010 2009(2)
----------------------------------------------------------------------------
Sales $ 83,923 $ 67,365 $ 270,405 $ 292,662
Gross profit 12,214 10,694 41,765 45,820
EBITDA(1) 11,847 13,602 38,708 46,780
Net Income 9,598 11,208 29,305 41,525
Basic and diluted EPS $ 0.15 $ 0.19 $ 0.47 $ 0.68
(1)EBITDA is a non-GAAP financial measure, which the Company believes is
meaningful information for purposes of performance evaluation and it
allows for comparisons of the Company's performance to the industry as
it eliminates the impact of financing decisions, capital structure and
the cost basis of assets.
(2)Unaudited
Sales revenue in fiscal 2010 was $270.4 million versus $292.7 million for the twelve-month period ended June 30, 2009. The decline was the result of several factors including the impact of foreign exchange and a lower average selling price due to lower commodity prices, partially offset by record sales volumes of Hanfeng's traditional slow and controlled release fertilizers ("SCR") and a year-over-year increase in CarbonPower(R) coated urea ("CPU") sales volumes. EBITDA in fiscal 2010 was $38.7 million versus $46.8 million in the twelve-month period ended June 30, 2009. Net income in fiscal 2010 was $29.3 million versus $41.5 million due to lower gross profit, a property, plant and equipment write-down in the current fiscal year of $1.0 million, a $2.2 million foreign exchange gain in the prior year and a $2.3 million increase in income tax expense due to the expiration of the Company's zero tax holiday status in China during the current fiscal year. Earnings per share ("EPS") was $0.47 in fiscal 2010, compared to $0.68 in the twelve month period ended June 30, 2009.
In the fourth quarter of fiscal 2010, sales revenue was $83.9 million compared to $67.4 million in the quarter ended June 30, 2009. EBITDA in the fourth quarter of 2010 was $11.9 million versus $13.6 million in the quarter ended June 30, 2009. Net income was $9.6 million in the quarter ended June 30, 2010 compared with $11.2 million in the quarter ended June 30, 2009. EPS was $0.15 in the quarter ended June 30, 2010 compared to $0.19 in the quarter ended June 30, 2009. The year-over-year decreases were primarily the result of the aforementioned issues and partially offset by an increase in tonnage sold of SCR.
In 2010, Hanfeng continued to experience increasing demand for its SCR and CPU, despite significant decreases in the selling price of conventional fertilizers. Conventional fertilizers (urea, potash, and phosphate) continue to be the Company's primary competition, as well as the primary feedstock for its SCR, representing approximately 90 percent of cost of goods sold. Over the past several quarters, the combination of the global economy and an oversupply of conventional fertilizers and commodities have put significant downward pressure on prices and caused many producers to liquidate inventories at below market levels. Hanfeng, as a value-added producer, is highly sensitive to fluctuations in commodity prices, as well as market pricing. The Company has continued to increase its sales volumes despite these unfavourable market conditions. However, to remain competitive and continue to grow market share, Hanfeng has adjusted its prices to reflect the current market. The Company has experienced signs of stabilization in its markets and does expect that prices of conventional fertilizers/raw materials will slowly begin to improve.
In the quarter ended June 30, 2010, overall gross profit increased 14 percent to $12.2 million from $10.7 million in the quarter ended June 30, 2009. Gross profit in fiscal 2010 decreased to $41.8 million from $45.8 million in the twelve-month period ended June 30, 2009, down $4.1 million or 9 percent. Excluding the impact of foreign exchange, gross profit decreased 1 percent on a year-over-year basis, mainly due to a lower gross profit per metric ton and slightly offset by record sales volumes. Gross profit in RMB increased 29 percent during the quarter ended June 30, 2010 over the comparative period last year as a result of a 40 percent increase in sales in RMB, and partially offset by lower gross margin of SCR per metric ton.
Gross profit as a percentage of sales in the fourth quarter of fiscal 2010 was 14.6 percent compared to 15.9 percent in the comparative period as a result of a lower gross profit per ton in SCR as a result of the aforementioned market conditions and the commercialization of the CPU product in fiscal 2010 which has a lower gross margin percentage than SCR. Gross profit as a percentage of sales for fiscal 2010 was slightly down to 15.4 percent from 15.7 percent as a result of gross profit per ton proportionally decreasing more compared to the decrease of the average selling price in the comparative periods and the commercialization of the CPU product in fiscal 2010.
SCR
Sales volume of SCR grew to 152,907 metric tons ("MT") in the fourth quarter ended June 30, 2010, a 12 percent increase over the 136,197 MT sold in the comparative period last year. Production of SCR in the fourth quarter of fiscal 2010 increased to 156,646 MT, the highest quarterly production in the Company's history. Hanfeng's average selling price of SCR decreased 2 percent to RMB 2,669 per MT from RMB 2,737 per MT in the third quarter of fiscal 2010, and 8 percent from RMB 2,899 per metric MT achieved in the quarter ended June 30, 2009. The reduction in selling price correlates to a decrease in raw material costs during the same period. For the quarter ended June 30, 2010, the average price of urea, phosphate, and potash decreased 5 percent, 4 percent and 6 percent respectively, compared to the third quarter in 2010.
In fiscal 2010, Hanfeng's SCR sales volumes grew to 570,065 MT compared to the 546,040 MT sold in the twelve months ended June 30, 2009. Total production of SCR in fiscal 2010 rose to 571,811 MT, up 3 percent from 557,732 MT in the twelve-month period ended June 30, 2009, as result of net additional capacity added. Hanfeng's average selling price of SCR decreased to RMB 2,681 per MT from RMB 3,200 in the twelve-month period ended June 30, 2009, a decrease of 16 percent. Over the same period, the average price of urea, phosphate, and potash decreased by 6 percent, 15 percent and 26 percent respectively. As at June 30, 2010, there were 16,733 MT of finished goods on hand compared to 14,791 MT as at June 30, 2009.
Gross profit for SCR on a per MT basis for the quarter ended June 30 2010 was RMB 430, a decrease of RMB 28 per MT or 6 percent from the comparative period last year. Gross profit for SCR per MT in the fourth quarter of fiscal 2010 decreased 2 percent from the third quarter of fiscal 2010. Declines in both periods were primarily due to the aforementioned market conditions. Gross profit for SCR on a per MT basis for fiscal 2010 was RMB 435, compared with RMB 498 in the twelve-month period ended June 30, 2009, down RMB 63 per metric ton or 13 percent, also as a result of the aforementioned market conditions.
Combined with the annual production capacity from the recently completed facility in Indonesia and the repurchase of Agrium Inc.'s interest in the Shanxi joint venture (see "Recent Business Highlights"), the Company now has approximately 826,000 MTPA in SCR design capacity.
CPU
During the quarter ended June 30, 2010, Hanfeng sold 72,116 tonnes of the CPU, a 99 percent increase over the 36,262 tonnes sold in the previous quarter. Hanfeng began commercial sales of CPU in the third quarter of fiscal 2010 after securing the exclusive supply and distribution agreement with FBSciences, Inc. in November 2009. The Company experienced importation delays in the second and third quarter of fiscal 2010 as a result of importing a new technology for the agricultural market in China. The average selling price on CPU in the fourth quarter of fiscal 2010 was RMB 2,012 per MT, down 3 percent from RMB 2,081 per MT in the third quarter of fiscal 2010 due to declining urea prices in the fourth quarter of fiscal 2010.
Gross profit per MT on CPU was RMB 207, up RMB 14 per MT or 7 percent from RMB 193 in the third quarter of fiscal 2010.
As at June 30, 2010, Hanfeng reported cash and cash equivalents of $51.9 million and net working capital of $166.6 million. Total inventory and advances to suppliers increased to $94.0 million at June 30, 2010, compared with $77.8 million at June 30, 2009 in preparation for additional volumes of CPU and an anticipated increase in raw material prices. As at June 30, 2010, Hanfeng had bank loan of nil and had no long-term debt.
Balance Sheet Highlights
----------------------------------------------------------------------------
(In CAD$ thousands except for ratios) June 30, 2010 June 30, 2009
----------------------------------------------------------------------------
Current ratio 40.8:1 4.4:1
----------------------------------------------------------------------------
Cash & cash equivalents 51,949 92,342
----------------------------------------------------------------------------
Working capital 166,597 148,786
----------------------------------------------------------------------------
Total assets 286,781 317,266
----------------------------------------------------------------------------
Total debt Nil 39,146
----------------------------------------------------------------------------
Total equity 282,596 273,777
----------------------------------------------------------------------------
Debt / Equity N/A 14%
----------------------------------------------------------------------------
Notes:
(1) Current ratio = Current Assets / Current Liabilities
(2) Total debt does not include accounts payable, accrued liabilities,
advances from customers and income tax payable.
Operations Update
Beidahuang Agriculture Company
Hanfeng is pleased to announce that it has entered into two separate letters of intent ("LOI") with Beidahuang Agriculture Company Limited ("Beidahuang") (SHA:600598). Beidahuang is the largest public agricultural company in China, consisting of 16 agricultural subsidiaries, involved in multiple areas of the agricultural market including farming, distribution of rice, grains, and other agricultural products, and manufacturing fertilizers. It produces 3,000,000 tons of high quality rice, 300,000 tons of soybean, 150,000 tons of wheat, 1,000,000 tons of rice, as well as 300,000 tons of other grains, cash crop and organic food per annum from its nearly 10,000,000 mu of farm land. Both letters of intent are subject to final board approval.
The first LOI is a sales and future cooperative joint venture agreement whereby Hanfeng will supply up to 200,000 MT a year of value-added fertilizer products to a joint venture ("the Distribution JV") to be operated by Beidahuang and Hanfeng. Under the terms of the LOI, the value-added fertilizer products (SCR, CPU) will be sold to the Distribution JV at market prices for resale in Beidahuang's distribution network. The Distribution JV also plans to distribute additional value-added fertilizers by leveraging Hanfeng's core technologies, Beidahuang's distribution network and third party resources. In addition to reselling value-added fertilizers, the Distribution JV will further cooperate in the areas of research and development, promotions and field trials. Under the proposed terms of the LOI, Hanfeng will own 40 percent of the joint venture.
The second LOI proposes the construction and operation of a 150,000 MTPA multi-product joint venture production facility (the "Facility") located in the Heilongjiang province. The Facility would be built next to Beidahuang's urea production facility. The Facility would be owned under similar terms as those provided in other Hanfeng joint ventures and the proposed ownership would be 50 percent for the Company and 50 percent for Beidahuang. Construction is expected to begin immediately after reaching a definitive agreement.
Minghua JV
The original joint venture with Shandong Mingshui Great Chemical Group (the "Minghua JV") to construct and operate a 100,000 MTPA polymer coated urea ("PCU") fertilizer plant in the Shandong province was signed in July 2008. Construction commenced in the fourth quarter of 2008 and the facility was put into production in July 2009. In 2009, the Company entered into an agreement to merge Minghua's existing 40,000 MTPA sulphur coated urea facility with the Minghua JV and build an additional PCU production line with an annual capacity of 100,000 MTPA. After an examination of the current market in Shandong, and the first year operations of the Minghua JV, the Company has elected to dedicate its limited construction resources to other markets that it expects will provide a higher return on investment. Consequently, the Company will not proceed with the merger of Minghua's existing 40,000 MTPA sulphur coated facility or the additional 100,000 MTPA PCU production line at this time.
Fertilizer Bag Facility
Hanfeng has entered into an agreement with Harbin Fengyuan Agricultural Industry Co., Ltd. ("Fengyuan") to purchase the assets of a fertilizer bag production facility for $5.6 million. As at June 30, 2010, the Company had deposited $4.7 million with Fengyuan to secure the assets in accordance with the purchase and sale agreement. The agreement is subject to obtaining governmental approvals and is expected to close in the first half of fiscal 2011, pending the legal transfer of assets. The Company believes it is beneficial to control that aspect of the supply chain as it expands its product offerings and geographical locations.
Recent Business Highlights
-- In September 2010, Hanfeng announced that it had completed construction
of the 150,000 MTPA slow and controlled release fertilizer joint venture
facility in Surabaya, Indonesia (the "JV facility"). The JV facility is
the first to be constructed by Hanfeng outside of mainland China and is
jointly owned by PT. Matahari Kahuripan Indonesia (the "Makin Group"),
the largest producer of palm oil and tobacco in Indonesia, and PT.
Sumber Agrindo Sejahtera ("Sejahtera"), Indonesia's largest agricultural
distributor. Under the final terms of the joint venture agreement, the
Makin Group will purchase a portion of the JV production for its oil
palm plantation, and Sejahtera will purchase the remainder for sale
through its extensive distribution network in Southeast Asia.
-- In July 2010, Hanfeng purchased Agrium's ownership in Hanfeng's
subsidiary responsible for developing Sulphur Coated Urea ("SCU"), known
as Hanfeng Slow Release Fertilizer (Canada) Co. Ltd. (or "Subco").
Hanfeng purchased Agrium's 50 percent ownership in Subco for $2.3
million in cash and 100,000 common shares valued at the closing price of
$6.22 per share for total consideration of $2.9 million. As a result,
Agrium's ownership in Hanfeng increased from 19.4 percent to 19.6
percent effective July 16, 2010. Agrium had acquired its 50 percent
interest in Subco in April 2009 through an option granted in conjunction
with the agreement in which Agrium became a shareholder of Hanfeng, in
April 2007. Hanfeng's Subco has a 50 percent interest in Fengxi, which
includes a 50,000 MTPA SCU facility in Shanxi province, China, and the
perpetual license for SCU production in China. The re-purchase is a
result of Hanfeng broadening its strategic focus to building facilities
that have a broad range of products including SCU.
-- In June 2010, the Company expanded its exclusive sales and distribution
agreement (the "Revised Agreement") with FBSciences, Inc. for
CarbonPower(R). The Revised Agreement extends the exclusive term of the
original agreement announced in November 2009 from two years to five
years and adds Japan and Korea to the exclusive territory that includes
China and Southeast Asia. The Revised Agreement also increases the
minimum amount of CarbonPower(R) expected to be shipped in the last
three years of the agreement by an average of 275 percent over the base
year. As at June 30, 2010, the Company had sold over 200,000 MT of CPU.
-- In April 2010, Hanfeng successfully completed the first phase of
fertilizer field trials, jointly conducted with Malaysia's Ministry of
Agriculture (MMOA). The trials were carried out on rice crops in Perak
State, Malaysia using Hanfeng slow-release fertilizers. The field trials
produced exceptional results with crops treated with a variety of
Hanfeng's formulated slow and controlled release fertilizers producing
higher yields and better quality rice crops with fewer applications.
Additionally, the products improved the soil quality by providing
micronutrients such as sulfur, which similar to China, is deficient in
Malaysian soil. The trials also revealed a decrease in nutrient residue,
which is attributable to the slow release characteristics of Hanfeng
fertilizers. Malaysia represents a significant new market for the
Company's slow release products.
-- The Company received verification that the Chemical Industry Standard
for Urea Formaldehyde Slow Release Fertilizer (UF) and related UF
products jointly drafted by Hanfeng and the National Center for Quality
Supervision and Testing of Chemical Fertilizers was unanimously
approved. This standard will provide enforceable guidelines for the
production of UF slow release fertilizer in China, as well as further
enhance Hanfeng's leading brand.
Mr. Paul Begin, CFO of Hanfeng, will host a conference call to review the Company's financial and operational performance. Management invites analysts and investors to participate on the conference call.
Date: September 29, 2010
Time: 10:00 am, Eastern Time
Dial in Number: 416-340-8061 or 1-866-223-7781
Taped Replay: 416-695-5800 or 1-800-408-3053
Taped Replay Pass Code: 5522118
Webcast Presentation Link: http://www.gowebcasting.com/2002
Hanfeng's year end 2010 financial statements and MD&A have been filed and will be available at www.sedar.com.
About Hanfeng Evergreen Inc.
Hanfeng is the largest producer of slow and controlled release fertilizers in China. It was the first company to introduce the concept of slow and controlled release fertilizers into China's agriculture market with its establishment of the first commercial scale production in China. All production facilities are located in prime agricultural regions of China. The Company is headquartered in Toronto, Ontario and its shares trade on the Toronto Stock Exchange. www.hanfengevergreen.com.
This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about Hanfeng's business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada. All amounts are stated in Canadian dollars except for noted otherwise.
Contacts
Paul Begin
Hanfeng Evergreen Inc.
Chief Financial Officer
(416) 368-8588
pb@hanfengevergreen.com
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ORONTO, ONTARIO--(http://www.investorideas.com/ clean energy blog ) - Hanfeng Evergreen Inc. (TSX: HF.TO) ("Hanfeng" or the "Company") reported its financial results for the fourth quarter and year ended, June 30, 2010 and provided several operational updates. Hanfeng changed its fiscal year-end from December 31 to June 30, effective from June 30, 2009. Therefore, Hanfeng's comparative period for fiscal 2010 is a 6 month audited period ended June 30, 2009. For a more meaningful comparative, the key financial results of fiscal 2010 were compared to the twelve-month period ended June 30, 2009, which is not an audited period. During the fourth quarter and fiscal year 2010, the Canadian dollar appreciated approximately 14 percent and 8 percent to the Chinese Renminbi (RMB) respectively. Although Hanfeng earns almost all of its revenue and pays all of its suppliers in RMB, it reports its financial results in Canadian dollars and the appreciation of the RMB has a negative impact on reported results. All amounts are in Canadian dollars unless otherwise noted.
Summary Financial Results
----------------------------------------------------------------------------
For the 3 month period For the 12 month period
(in thousands in $Cdn) ended June 30 ended June 30
except percentages and ---------------------------------------------------
per share data 2010 2009 2010 2009(2)
----------------------------------------------------------------------------
Sales $ 83,923 $ 67,365 $ 270,405 $ 292,662
Gross profit 12,214 10,694 41,765 45,820
EBITDA(1) 11,847 13,602 38,708 46,780
Net Income 9,598 11,208 29,305 41,525
Basic and diluted EPS $ 0.15 $ 0.19 $ 0.47 $ 0.68
(1)EBITDA is a non-GAAP financial measure, which the Company believes is
meaningful information for purposes of performance evaluation and it
allows for comparisons of the Company's performance to the industry as
it eliminates the impact of financing decisions, capital structure and
the cost basis of assets.
(2)Unaudited
Sales revenue in fiscal 2010 was $270.4 million versus $292.7 million for the twelve-month period ended June 30, 2009. The decline was the result of several factors including the impact of foreign exchange and a lower average selling price due to lower commodity prices, partially offset by record sales volumes of Hanfeng's traditional slow and controlled release fertilizers ("SCR") and a year-over-year increase in CarbonPower(R) coated urea ("CPU") sales volumes. EBITDA in fiscal 2010 was $38.7 million versus $46.8 million in the twelve-month period ended June 30, 2009. Net income in fiscal 2010 was $29.3 million versus $41.5 million due to lower gross profit, a property, plant and equipment write-down in the current fiscal year of $1.0 million, a $2.2 million foreign exchange gain in the prior year and a $2.3 million increase in income tax expense due to the expiration of the Company's zero tax holiday status in China during the current fiscal year. Earnings per share ("EPS") was $0.47 in fiscal 2010, compared to $0.68 in the twelve month period ended June 30, 2009.
In the fourth quarter of fiscal 2010, sales revenue was $83.9 million compared to $67.4 million in the quarter ended June 30, 2009. EBITDA in the fourth quarter of 2010 was $11.9 million versus $13.6 million in the quarter ended June 30, 2009. Net income was $9.6 million in the quarter ended June 30, 2010 compared with $11.2 million in the quarter ended June 30, 2009. EPS was $0.15 in the quarter ended June 30, 2010 compared to $0.19 in the quarter ended June 30, 2009. The year-over-year decreases were primarily the result of the aforementioned issues and partially offset by an increase in tonnage sold of SCR.
In 2010, Hanfeng continued to experience increasing demand for its SCR and CPU, despite significant decreases in the selling price of conventional fertilizers. Conventional fertilizers (urea, potash, and phosphate) continue to be the Company's primary competition, as well as the primary feedstock for its SCR, representing approximately 90 percent of cost of goods sold. Over the past several quarters, the combination of the global economy and an oversupply of conventional fertilizers and commodities have put significant downward pressure on prices and caused many producers to liquidate inventories at below market levels. Hanfeng, as a value-added producer, is highly sensitive to fluctuations in commodity prices, as well as market pricing. The Company has continued to increase its sales volumes despite these unfavourable market conditions. However, to remain competitive and continue to grow market share, Hanfeng has adjusted its prices to reflect the current market. The Company has experienced signs of stabilization in its markets and does expect that prices of conventional fertilizers/raw materials will slowly begin to improve.
In the quarter ended June 30, 2010, overall gross profit increased 14 percent to $12.2 million from $10.7 million in the quarter ended June 30, 2009. Gross profit in fiscal 2010 decreased to $41.8 million from $45.8 million in the twelve-month period ended June 30, 2009, down $4.1 million or 9 percent. Excluding the impact of foreign exchange, gross profit decreased 1 percent on a year-over-year basis, mainly due to a lower gross profit per metric ton and slightly offset by record sales volumes. Gross profit in RMB increased 29 percent during the quarter ended June 30, 2010 over the comparative period last year as a result of a 40 percent increase in sales in RMB, and partially offset by lower gross margin of SCR per metric ton.
Gross profit as a percentage of sales in the fourth quarter of fiscal 2010 was 14.6 percent compared to 15.9 percent in the comparative period as a result of a lower gross profit per ton in SCR as a result of the aforementioned market conditions and the commercialization of the CPU product in fiscal 2010 which has a lower gross margin percentage than SCR. Gross profit as a percentage of sales for fiscal 2010 was slightly down to 15.4 percent from 15.7 percent as a result of gross profit per ton proportionally decreasing more compared to the decrease of the average selling price in the comparative periods and the commercialization of the CPU product in fiscal 2010.
SCR
Sales volume of SCR grew to 152,907 metric tons ("MT") in the fourth quarter ended June 30, 2010, a 12 percent increase over the 136,197 MT sold in the comparative period last year. Production of SCR in the fourth quarter of fiscal 2010 increased to 156,646 MT, the highest quarterly production in the Company's history. Hanfeng's average selling price of SCR decreased 2 percent to RMB 2,669 per MT from RMB 2,737 per MT in the third quarter of fiscal 2010, and 8 percent from RMB 2,899 per metric MT achieved in the quarter ended June 30, 2009. The reduction in selling price correlates to a decrease in raw material costs during the same period. For the quarter ended June 30, 2010, the average price of urea, phosphate, and potash decreased 5 percent, 4 percent and 6 percent respectively, compared to the third quarter in 2010.
In fiscal 2010, Hanfeng's SCR sales volumes grew to 570,065 MT compared to the 546,040 MT sold in the twelve months ended June 30, 2009. Total production of SCR in fiscal 2010 rose to 571,811 MT, up 3 percent from 557,732 MT in the twelve-month period ended June 30, 2009, as result of net additional capacity added. Hanfeng's average selling price of SCR decreased to RMB 2,681 per MT from RMB 3,200 in the twelve-month period ended June 30, 2009, a decrease of 16 percent. Over the same period, the average price of urea, phosphate, and potash decreased by 6 percent, 15 percent and 26 percent respectively. As at June 30, 2010, there were 16,733 MT of finished goods on hand compared to 14,791 MT as at June 30, 2009.
Gross profit for SCR on a per MT basis for the quarter ended June 30 2010 was RMB 430, a decrease of RMB 28 per MT or 6 percent from the comparative period last year. Gross profit for SCR per MT in the fourth quarter of fiscal 2010 decreased 2 percent from the third quarter of fiscal 2010. Declines in both periods were primarily due to the aforementioned market conditions. Gross profit for SCR on a per MT basis for fiscal 2010 was RMB 435, compared with RMB 498 in the twelve-month period ended June 30, 2009, down RMB 63 per metric ton or 13 percent, also as a result of the aforementioned market conditions.
Combined with the annual production capacity from the recently completed facility in Indonesia and the repurchase of Agrium Inc.'s interest in the Shanxi joint venture (see "Recent Business Highlights"), the Company now has approximately 826,000 MTPA in SCR design capacity.
CPU
During the quarter ended June 30, 2010, Hanfeng sold 72,116 tonnes of the CPU, a 99 percent increase over the 36,262 tonnes sold in the previous quarter. Hanfeng began commercial sales of CPU in the third quarter of fiscal 2010 after securing the exclusive supply and distribution agreement with FBSciences, Inc. in November 2009. The Company experienced importation delays in the second and third quarter of fiscal 2010 as a result of importing a new technology for the agricultural market in China. The average selling price on CPU in the fourth quarter of fiscal 2010 was RMB 2,012 per MT, down 3 percent from RMB 2,081 per MT in the third quarter of fiscal 2010 due to declining urea prices in the fourth quarter of fiscal 2010.
Gross profit per MT on CPU was RMB 207, up RMB 14 per MT or 7 percent from RMB 193 in the third quarter of fiscal 2010.
As at June 30, 2010, Hanfeng reported cash and cash equivalents of $51.9 million and net working capital of $166.6 million. Total inventory and advances to suppliers increased to $94.0 million at June 30, 2010, compared with $77.8 million at June 30, 2009 in preparation for additional volumes of CPU and an anticipated increase in raw material prices. As at June 30, 2010, Hanfeng had bank loan of nil and had no long-term debt.
Balance Sheet Highlights
----------------------------------------------------------------------------
(In CAD$ thousands except for ratios) June 30, 2010 June 30, 2009
----------------------------------------------------------------------------
Current ratio 40.8:1 4.4:1
----------------------------------------------------------------------------
Cash & cash equivalents 51,949 92,342
----------------------------------------------------------------------------
Working capital 166,597 148,786
----------------------------------------------------------------------------
Total assets 286,781 317,266
----------------------------------------------------------------------------
Total debt Nil 39,146
----------------------------------------------------------------------------
Total equity 282,596 273,777
----------------------------------------------------------------------------
Debt / Equity N/A 14%
----------------------------------------------------------------------------
Notes:
(1) Current ratio = Current Assets / Current Liabilities
(2) Total debt does not include accounts payable, accrued liabilities,
advances from customers and income tax payable.
Operations Update
Beidahuang Agriculture Company
Hanfeng is pleased to announce that it has entered into two separate letters of intent ("LOI") with Beidahuang Agriculture Company Limited ("Beidahuang") (SHA:600598). Beidahuang is the largest public agricultural company in China, consisting of 16 agricultural subsidiaries, involved in multiple areas of the agricultural market including farming, distribution of rice, grains, and other agricultural products, and manufacturing fertilizers. It produces 3,000,000 tons of high quality rice, 300,000 tons of soybean, 150,000 tons of wheat, 1,000,000 tons of rice, as well as 300,000 tons of other grains, cash crop and organic food per annum from its nearly 10,000,000 mu of farm land. Both letters of intent are subject to final board approval.
The first LOI is a sales and future cooperative joint venture agreement whereby Hanfeng will supply up to 200,000 MT a year of value-added fertilizer products to a joint venture ("the Distribution JV") to be operated by Beidahuang and Hanfeng. Under the terms of the LOI, the value-added fertilizer products (SCR, CPU) will be sold to the Distribution JV at market prices for resale in Beidahuang's distribution network. The Distribution JV also plans to distribute additional value-added fertilizers by leveraging Hanfeng's core technologies, Beidahuang's distribution network and third party resources. In addition to reselling value-added fertilizers, the Distribution JV will further cooperate in the areas of research and development, promotions and field trials. Under the proposed terms of the LOI, Hanfeng will own 40 percent of the joint venture.
The second LOI proposes the construction and operation of a 150,000 MTPA multi-product joint venture production facility (the "Facility") located in the Heilongjiang province. The Facility would be built next to Beidahuang's urea production facility. The Facility would be owned under similar terms as those provided in other Hanfeng joint ventures and the proposed ownership would be 50 percent for the Company and 50 percent for Beidahuang. Construction is expected to begin immediately after reaching a definitive agreement.
Minghua JV
The original joint venture with Shandong Mingshui Great Chemical Group (the "Minghua JV") to construct and operate a 100,000 MTPA polymer coated urea ("PCU") fertilizer plant in the Shandong province was signed in July 2008. Construction commenced in the fourth quarter of 2008 and the facility was put into production in July 2009. In 2009, the Company entered into an agreement to merge Minghua's existing 40,000 MTPA sulphur coated urea facility with the Minghua JV and build an additional PCU production line with an annual capacity of 100,000 MTPA. After an examination of the current market in Shandong, and the first year operations of the Minghua JV, the Company has elected to dedicate its limited construction resources to other markets that it expects will provide a higher return on investment. Consequently, the Company will not proceed with the merger of Minghua's existing 40,000 MTPA sulphur coated facility or the additional 100,000 MTPA PCU production line at this time.
Fertilizer Bag Facility
Hanfeng has entered into an agreement with Harbin Fengyuan Agricultural Industry Co., Ltd. ("Fengyuan") to purchase the assets of a fertilizer bag production facility for $5.6 million. As at June 30, 2010, the Company had deposited $4.7 million with Fengyuan to secure the assets in accordance with the purchase and sale agreement. The agreement is subject to obtaining governmental approvals and is expected to close in the first half of fiscal 2011, pending the legal transfer of assets. The Company believes it is beneficial to control that aspect of the supply chain as it expands its product offerings and geographical locations.
Recent Business Highlights
-- In September 2010, Hanfeng announced that it had completed construction
of the 150,000 MTPA slow and controlled release fertilizer joint venture
facility in Surabaya, Indonesia (the "JV facility"). The JV facility is
the first to be constructed by Hanfeng outside of mainland China and is
jointly owned by PT. Matahari Kahuripan Indonesia (the "Makin Group"),
the largest producer of palm oil and tobacco in Indonesia, and PT.
Sumber Agrindo Sejahtera ("Sejahtera"), Indonesia's largest agricultural
distributor. Under the final terms of the joint venture agreement, the
Makin Group will purchase a portion of the JV production for its oil
palm plantation, and Sejahtera will purchase the remainder for sale
through its extensive distribution network in Southeast Asia.
-- In July 2010, Hanfeng purchased Agrium's ownership in Hanfeng's
subsidiary responsible for developing Sulphur Coated Urea ("SCU"), known
as Hanfeng Slow Release Fertilizer (Canada) Co. Ltd. (or "Subco").
Hanfeng purchased Agrium's 50 percent ownership in Subco for $2.3
million in cash and 100,000 common shares valued at the closing price of
$6.22 per share for total consideration of $2.9 million. As a result,
Agrium's ownership in Hanfeng increased from 19.4 percent to 19.6
percent effective July 16, 2010. Agrium had acquired its 50 percent
interest in Subco in April 2009 through an option granted in conjunction
with the agreement in which Agrium became a shareholder of Hanfeng, in
April 2007. Hanfeng's Subco has a 50 percent interest in Fengxi, which
includes a 50,000 MTPA SCU facility in Shanxi province, China, and the
perpetual license for SCU production in China. The re-purchase is a
result of Hanfeng broadening its strategic focus to building facilities
that have a broad range of products including SCU.
-- In June 2010, the Company expanded its exclusive sales and distribution
agreement (the "Revised Agreement") with FBSciences, Inc. for
CarbonPower(R). The Revised Agreement extends the exclusive term of the
original agreement announced in November 2009 from two years to five
years and adds Japan and Korea to the exclusive territory that includes
China and Southeast Asia. The Revised Agreement also increases the
minimum amount of CarbonPower(R) expected to be shipped in the last
three years of the agreement by an average of 275 percent over the base
year. As at June 30, 2010, the Company had sold over 200,000 MT of CPU.
-- In April 2010, Hanfeng successfully completed the first phase of
fertilizer field trials, jointly conducted with Malaysia's Ministry of
Agriculture (MMOA). The trials were carried out on rice crops in Perak
State, Malaysia using Hanfeng slow-release fertilizers. The field trials
produced exceptional results with crops treated with a variety of
Hanfeng's formulated slow and controlled release fertilizers producing
higher yields and better quality rice crops with fewer applications.
Additionally, the products improved the soil quality by providing
micronutrients such as sulfur, which similar to China, is deficient in
Malaysian soil. The trials also revealed a decrease in nutrient residue,
which is attributable to the slow release characteristics of Hanfeng
fertilizers. Malaysia represents a significant new market for the
Company's slow release products.
-- The Company received verification that the Chemical Industry Standard
for Urea Formaldehyde Slow Release Fertilizer (UF) and related UF
products jointly drafted by Hanfeng and the National Center for Quality
Supervision and Testing of Chemical Fertilizers was unanimously
approved. This standard will provide enforceable guidelines for the
production of UF slow release fertilizer in China, as well as further
enhance Hanfeng's leading brand.
Mr. Paul Begin, CFO of Hanfeng, will host a conference call to review the Company's financial and operational performance. Management invites analysts and investors to participate on the conference call.
Date: September 29, 2010
Time: 10:00 am, Eastern Time
Dial in Number: 416-340-8061 or 1-866-223-7781
Taped Replay: 416-695-5800 or 1-800-408-3053
Taped Replay Pass Code: 5522118
Webcast Presentation Link: http://www.gowebcasting.com/2002
Hanfeng's year end 2010 financial statements and MD&A have been filed and will be available at www.sedar.com.
About Hanfeng Evergreen Inc.
Hanfeng is the largest producer of slow and controlled release fertilizers in China. It was the first company to introduce the concept of slow and controlled release fertilizers into China's agriculture market with its establishment of the first commercial scale production in China. All production facilities are located in prime agricultural regions of China. The Company is headquartered in Toronto, Ontario and its shares trade on the Toronto Stock Exchange. www.hanfengevergreen.com.
This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about Hanfeng's business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada. All amounts are stated in Canadian dollars except for noted otherwise.
Contacts
Paul Begin
Hanfeng Evergreen Inc.
Chief Financial Officer
(416) 368-8588
pb@hanfengevergreen.com
News and Stories Published at the Clean Energy Stocks Blog for Green Investors:
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Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Electric Car Stock News; Tesla Roadster Arrives in Paris at Conclusion of Historic World Tour
Electric Car Stock News; Tesla Roadster Arrives in Paris at Conclusion of Historic World Tour
Unique Electric Sports Car Will Be at the Paris Motor Show, Then at Tesla’s New Store in the French Capital
PARIS--(http://www.investorideas.com/ clean energy stocks blog)--A Tesla Roadster traveling around the world concludes its epic voyage tonight when it arrives in Paris for a spectacular gala.
“This trip was about showing people the boundaries of an electric car’s performance, durability and efficiency”
.Sponsored by electric carmaker Tesla Motors and TAG Heuer to commemorate the Swiss watchmaker’s 150th anniversary, the Odyssey of Pioneers has traveled through hundreds of towns and 16 major cities worldwide.
The TAG Heuer Tesla Roadster has made history all along the route and has been the subject of an online documentary series. For instance:
•It was the first car without Russian components to receive official clearance to park in Moscow’s Red Square. Red Square is Russia’s former royal citadel and the president’s residence – the heart of Moscow and Russia itself.
•It was greeted by cheering crowds in Budapest, where Nikola Tesla came up with the design for his revolutionary alternating-current induction motor in 1882. The Tesla Roadster – the world’s only electric sports car -- uses an AC induction motor descended from the prodigal scientist’s original vision.
•It was hosted in India by Bollywood phenomenon Shah Rukh Khan and in Jaipur by His Royal Highness Sawai Bhawani Singh Bahadur, the last maharaja of Jaipur -- considered Rajasthan’s most significant political, cultural and religious figure.
•It traveled to the Great Wall of China. During a stop at one section of the 8,852-kilometer landmark, respected Chinese actor and “Hero” star Chen Dao Ming took a spin.
Additional stops included Milan, Tokyo, Los Angeles, New York and London, where it led Prince Charles’ Garden Party to promote environmental awareness and was driven by legendary British racing driver Sir Stirling Moss. His Royal Highness Prince Albert II of Monaco drove it during one of the first legs of the trip.
Tesla technician Luke McClure has driven the car throughout the six-month journey. The car has performed solidly. Co-pilot and award-winning cameraman Vivien Floris chronicled the adventure online.
McClure, 26, grew up in Norwich, UK – not far from the town of Hethel, where the Tesla Roadster is manufactured.
“After making history and meeting incredible people on three continents, it’s going to be an interesting transition back to my day job,” McClure joked. “I may have spent more quality time in the Roadster than anyone else -- and it will come in handy for Roadster owners who also do extreme driving and road rallies.”
Renewable Energy Goes the Distance
In India, China, Russia and other countries en route, the Roadster has recharged from conventional outlets using existing infrastructure. The TAG Heuer Tesla Roadster uses standard outlets at hotels and restaurants, and even at churches, private homes and a barn in rural Switzerland, demonstrating the versatility and ease of Roadster charging.
The Roadster is the only sports car that can be fully or partially charged with renewable energy, including solar, wind, hydroelectric and geothermal energy. The TAG Heuer Tesla Roadster has recharged whenever possible with purely renewable energy – for instance, at a solar-powered Hilton Hotel in Switzerland, and at a Roadster owner’s solar energy company in Italy.
Tesla CEO, Chairman and Co-Founder Elon Musk will be in Paris for the Odyssey’s grand finale Sept. 29 – the day before Tesla will open its showroom in the heart of Paris at 41 Avenue Kléber, walking distance to the Arc de Triomphe and Champs Elysées.
“This trip was about showing people the boundaries of an electric car’s performance, durability and efficiency,” Musk said. “This tour demonstrates that the Roadster can go the distance – whether you are commuting to work or embarking on a once-in-a-lifetime adventure.”
About Tesla
Tesla’s goal is to produce energy-efficient cars for mass-market, mainstream consumers. Tesla has already delivered about 1,300 zero-emission cars in at least 30 countries. With a relentless focus on customer service, Tesla sells cars directly to clients, both online and at the following European showrooms: London, Monaco, Zurich, Munich, Copenhagen and Paris starting Sept. 30. Tesla has eight additional showrooms in North America.
Contacts
Tesla Motors
Rachel Konrad, +44 (0) 7872 543 250
Rachel@teslamotors.com
News and Stories Published at the Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Our Goal; One Million More Investors Investing in Green Technology and Water Technology in 2010. Join us today: Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Unique Electric Sports Car Will Be at the Paris Motor Show, Then at Tesla’s New Store in the French Capital
PARIS--(http://www.investorideas.com/ clean energy stocks blog)--A Tesla Roadster traveling around the world concludes its epic voyage tonight when it arrives in Paris for a spectacular gala.
“This trip was about showing people the boundaries of an electric car’s performance, durability and efficiency”
.Sponsored by electric carmaker Tesla Motors and TAG Heuer to commemorate the Swiss watchmaker’s 150th anniversary, the Odyssey of Pioneers has traveled through hundreds of towns and 16 major cities worldwide.
The TAG Heuer Tesla Roadster has made history all along the route and has been the subject of an online documentary series. For instance:
•It was the first car without Russian components to receive official clearance to park in Moscow’s Red Square. Red Square is Russia’s former royal citadel and the president’s residence – the heart of Moscow and Russia itself.
•It was greeted by cheering crowds in Budapest, where Nikola Tesla came up with the design for his revolutionary alternating-current induction motor in 1882. The Tesla Roadster – the world’s only electric sports car -- uses an AC induction motor descended from the prodigal scientist’s original vision.
•It was hosted in India by Bollywood phenomenon Shah Rukh Khan and in Jaipur by His Royal Highness Sawai Bhawani Singh Bahadur, the last maharaja of Jaipur -- considered Rajasthan’s most significant political, cultural and religious figure.
•It traveled to the Great Wall of China. During a stop at one section of the 8,852-kilometer landmark, respected Chinese actor and “Hero” star Chen Dao Ming took a spin.
Additional stops included Milan, Tokyo, Los Angeles, New York and London, where it led Prince Charles’ Garden Party to promote environmental awareness and was driven by legendary British racing driver Sir Stirling Moss. His Royal Highness Prince Albert II of Monaco drove it during one of the first legs of the trip.
Tesla technician Luke McClure has driven the car throughout the six-month journey. The car has performed solidly. Co-pilot and award-winning cameraman Vivien Floris chronicled the adventure online.
McClure, 26, grew up in Norwich, UK – not far from the town of Hethel, where the Tesla Roadster is manufactured.
“After making history and meeting incredible people on three continents, it’s going to be an interesting transition back to my day job,” McClure joked. “I may have spent more quality time in the Roadster than anyone else -- and it will come in handy for Roadster owners who also do extreme driving and road rallies.”
Renewable Energy Goes the Distance
In India, China, Russia and other countries en route, the Roadster has recharged from conventional outlets using existing infrastructure. The TAG Heuer Tesla Roadster uses standard outlets at hotels and restaurants, and even at churches, private homes and a barn in rural Switzerland, demonstrating the versatility and ease of Roadster charging.
The Roadster is the only sports car that can be fully or partially charged with renewable energy, including solar, wind, hydroelectric and geothermal energy. The TAG Heuer Tesla Roadster has recharged whenever possible with purely renewable energy – for instance, at a solar-powered Hilton Hotel in Switzerland, and at a Roadster owner’s solar energy company in Italy.
Tesla CEO, Chairman and Co-Founder Elon Musk will be in Paris for the Odyssey’s grand finale Sept. 29 – the day before Tesla will open its showroom in the heart of Paris at 41 Avenue Kléber, walking distance to the Arc de Triomphe and Champs Elysées.
“This trip was about showing people the boundaries of an electric car’s performance, durability and efficiency,” Musk said. “This tour demonstrates that the Roadster can go the distance – whether you are commuting to work or embarking on a once-in-a-lifetime adventure.”
About Tesla
Tesla’s goal is to produce energy-efficient cars for mass-market, mainstream consumers. Tesla has already delivered about 1,300 zero-emission cars in at least 30 countries. With a relentless focus on customer service, Tesla sells cars directly to clients, both online and at the following European showrooms: London, Monaco, Zurich, Munich, Copenhagen and Paris starting Sept. 30. Tesla has eight additional showrooms in North America.
Contacts
Tesla Motors
Rachel Konrad, +44 (0) 7872 543 250
Rachel@teslamotors.com
News and Stories Published at the Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Our Goal; One Million More Investors Investing in Green Technology and Water Technology in 2010. Join us today: Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Renewable Energy Stocks; PetroAlgae Biomass (OTCBB:PALG) Tested by Foster Wheeler with Encouraging Results
Renewable Energy Stocks; PetroAlgae Biomass (OTCBB:PALG) Tested by Foster Wheeler with Encouraging Results
MELBOURNE, Fla.--(http://www.investorideas.com/ clean energy stocks blog )--Foster Wheeler AG (NASDAQ: FWLT) announced yesterday that its Global Engineering and Construction Group, working with PetroAlgae Inc. (OTCBB: PALG), has completed initial testing of PetroAlgae’s biomass with encouraging results. The biomass is being tested as a delayed coker feedstock supplement to provide renewable biofuels to the market. Following is the full Foster Wheeler press release issued yesterday:
“These results could lead to a change in the way refineries look at biofuels in the future, as we believe this presents a commercially scalable source of biomass which produces a true 'drop in' feedstock which is compatible with the entire existing transportation fuel infrastructure.”
.Foster Wheeler Obtains Encouraging Results from Initial PetroAlgae Biomass Testing
ZUG, Switzerland, Sep 28, 2010 -- Foster Wheeler AG, (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group, working with PetroAlgae Inc., (OTCBB:PALG) has completed its initial testing of PetroAlgae's biomass, with encouraging results. The biomass, produced at PetroAlgae's micro-crop farm in the U.S., is being tested as a delayed coker feedstock supplement to provide renewable biofuels to the market. This biomass is renewable, carbon neutral, sustainable and lends itself readily to commercial-scale production.
Testing was conducted at a state-of-the-art commercial coker testing facility operated by the College of Engineering and Natural Sciences at the University of Tulsa (Oklahoma). The combination of PetroAlgae's proprietary patent-pending biomass production system, and Foster Wheeler's SYDECSM delayed coking technology, is being designed with the intent to allow the delayed coker to incorporate biomass into the coker feedstock, with minimal configuration changes to an existing unit.
Testing was conducted to demonstrate that the biomass is an effective add-in complement to vacuum residue coker feedstock, and does not significantly affect overall coker operations. The initial test results demonstrate that biomass, mixed with vacuum residue, yields additional valuable hydrocarbons as a result of biomass carbohydrate and lipid decomposition. Further testing and engineering development is underway to optimize process parameters and feedstock blend ratios.
"We are very pleased with the results from our initial testing of PetroAlgae's biomass that generates green fuels from a blend of biomass and petroleum vacuum residue," said Umberto della Sala, president and chief operating officer of Foster Wheeler AG. "These results could lead to a change in the way refineries look at biofuels in the future, as we believe this presents a commercially scalable source of biomass which produces a true 'drop in' feedstock which is compatible with the entire existing transportation fuel infrastructure."
Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, environmental, pharmaceuticals, biotechnology and healthcare industries. The company's Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our website at http://www.fwc.com.
About PetroAlgae
PetroAlgae Inc. (OTCBB: PALG), based in Melbourne, Florida, is a renewable energy company that licenses and deploys the leading biomass production platform to address existing and growing unmet needs in the global energy and agriculture markets. The company’s technology enables the growing and harvesting of a wide variety of non-algae micro-crops suitable to local climates in open-pond bioreactors. For more information about PetroAlgae, please visit our website at http://www.petroalgae.com/
Contacts
PetroAlgae Inc.
INVESTOR:
David Szostak, 321-409-7407
dszostak@petroalgae.com
or
MEDIA:
Harold Gubnitsky, 321-409-7403
hgubnitsky@petroalgae.com
News and Stories Published at the http://www.investorideas.com/ Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Our Goal; One Million More Investors Investing in Green Technology and Water Technology in 2010. Join us today: Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
MELBOURNE, Fla.--(http://www.investorideas.com/ clean energy stocks blog )--Foster Wheeler AG (NASDAQ: FWLT) announced yesterday that its Global Engineering and Construction Group, working with PetroAlgae Inc. (OTCBB: PALG), has completed initial testing of PetroAlgae’s biomass with encouraging results. The biomass is being tested as a delayed coker feedstock supplement to provide renewable biofuels to the market. Following is the full Foster Wheeler press release issued yesterday:
“These results could lead to a change in the way refineries look at biofuels in the future, as we believe this presents a commercially scalable source of biomass which produces a true 'drop in' feedstock which is compatible with the entire existing transportation fuel infrastructure.”
.Foster Wheeler Obtains Encouraging Results from Initial PetroAlgae Biomass Testing
ZUG, Switzerland, Sep 28, 2010 -- Foster Wheeler AG, (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group, working with PetroAlgae Inc., (OTCBB:PALG) has completed its initial testing of PetroAlgae's biomass, with encouraging results. The biomass, produced at PetroAlgae's micro-crop farm in the U.S., is being tested as a delayed coker feedstock supplement to provide renewable biofuels to the market. This biomass is renewable, carbon neutral, sustainable and lends itself readily to commercial-scale production.
Testing was conducted at a state-of-the-art commercial coker testing facility operated by the College of Engineering and Natural Sciences at the University of Tulsa (Oklahoma). The combination of PetroAlgae's proprietary patent-pending biomass production system, and Foster Wheeler's SYDECSM delayed coking technology, is being designed with the intent to allow the delayed coker to incorporate biomass into the coker feedstock, with minimal configuration changes to an existing unit.
Testing was conducted to demonstrate that the biomass is an effective add-in complement to vacuum residue coker feedstock, and does not significantly affect overall coker operations. The initial test results demonstrate that biomass, mixed with vacuum residue, yields additional valuable hydrocarbons as a result of biomass carbohydrate and lipid decomposition. Further testing and engineering development is underway to optimize process parameters and feedstock blend ratios.
"We are very pleased with the results from our initial testing of PetroAlgae's biomass that generates green fuels from a blend of biomass and petroleum vacuum residue," said Umberto della Sala, president and chief operating officer of Foster Wheeler AG. "These results could lead to a change in the way refineries look at biofuels in the future, as we believe this presents a commercially scalable source of biomass which produces a true 'drop in' feedstock which is compatible with the entire existing transportation fuel infrastructure."
Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, environmental, pharmaceuticals, biotechnology and healthcare industries. The company's Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our website at http://www.fwc.com.
About PetroAlgae
PetroAlgae Inc. (OTCBB: PALG), based in Melbourne, Florida, is a renewable energy company that licenses and deploys the leading biomass production platform to address existing and growing unmet needs in the global energy and agriculture markets. The company’s technology enables the growing and harvesting of a wide variety of non-algae micro-crops suitable to local climates in open-pond bioreactors. For more information about PetroAlgae, please visit our website at http://www.petroalgae.com/
Contacts
PetroAlgae Inc.
INVESTOR:
David Szostak, 321-409-7407
dszostak@petroalgae.com
or
MEDIA:
Harold Gubnitsky, 321-409-7403
hgubnitsky@petroalgae.com
News and Stories Published at the http://www.investorideas.com/ Clean Energy Stocks Blog for Green Investors:
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories. Our Goal; One Million More Investors Investing in Green Technology and Water Technology in 2010. Join us today: Become an Investorideas.com member and research stocks and invest in cleantech : get login access to all 4 cleantech stock directories including water stocks and renewable energy stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
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