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/.
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Get insight into cleantech and renewable energy stocks with news and the cleantech and climate change podcast. This blog is part of www.investorideas.com cleantech investor content .
Monday, October 04, 2010
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
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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
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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.
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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
News and Stories Published at www.investorideas.com 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.
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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/.
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
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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.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
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.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
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.
Cleantech green stocks - become a showcase green stock at www.investorideas.com - a leader in cleantech investor research for as little as $1000 month.
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.
Electric Car Stocks ; RMD Technologies, Inc. (OTCPK:RMDT) Selects PRP Seats of Murrieta, California to Supply the Custom Designed Seating for Its Electric Vehicles
Electric Car Stocks ; RMD Technologies, Inc. Selects PRP Seats of Murrieta, California to Supply the Custom Designed Seating for Its Electric Vehicles
SAN MARCOS, CA--(http://www.investorideas.com/ clean energy stocks blog ) - September 29, 2010) - RMD Technologies, Inc. (PINKSHEETS: RMDT) is pleased to announce that the Company has engaged PRP Seats of Murrieta, California to supply the seating for the Company's small Electric Vehicles.
PRP Seats manufactures their seating to their customers' unique specifications and builds in the quality and ruggedness required for the brutal demands of all-terrain driving. The Company's focus is very simple; build high quality suspension seats for distinctive applications, while providing excellent customer service.
As off road enthusiasts themselves, PRP knows how brutal the punishment can be to man and machine once you leave the highway, and over the years have developed proven solutions. The Company boasts the flexibility to provide robust seating, equipped with quality suspension, for practically any application.
Since November 2001, PRP's owners have participated in every form of off-roading, from racing to weekend trail riding, buggies to quads, jeeps to motorcycles. They bring over 20 years of specialized experience to the Company. Consequently, the "hands on" knowledge and expertise that has resulted is unparalleled.
"We have been very selective in this process. PRP's ability to built the exact seating we require, along with great quality and a completely American made product made the choice clear. We move forward with PRP in full confidence that their participation will contribute to the excellent quality that we will build into product," stated Patrick Galliher, CEO of RMD Technologies, Inc.
As RMD Technologies recently announced, the Company has commenced operations at the new facility located in San Marcos, California. The Company expects to launch sales of their new Electric Utility Vehicles during the fourth quarter of 2010 with delivery of the first units shortly thereafter.
RMD Technologies, Inc. has designed its vehicles to qualify for all federal and state purchasing incentives, including the current federal tax credit available under the Energy Improvement and Extension Act of 2008.
About RMD Technologies, Inc.
RMD Technologies, Inc. is a California based business founded in 2001. Since inception, RMDT has provided electronics recycling services to businesses, state and federal agencies. In 2007 RMDT began the development of an alternative energy vehicle using a large percentage of materials recycled from electronic waste. The result is a small electric vehicle design that incorporates recycled materials, clean electric energy and solar power.
Forward-looking Statement
Notice: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those set forth in the company's filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Please Visit Our Website for More Information at: www.RMDT.com
For Investor Relations Contact:
Patrick Galliher
(760-356-2039)
News and Stories Published at the 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.
SAN MARCOS, CA--(http://www.investorideas.com/ clean energy stocks blog ) - September 29, 2010) - RMD Technologies, Inc. (PINKSHEETS: RMDT) is pleased to announce that the Company has engaged PRP Seats of Murrieta, California to supply the seating for the Company's small Electric Vehicles.
PRP Seats manufactures their seating to their customers' unique specifications and builds in the quality and ruggedness required for the brutal demands of all-terrain driving. The Company's focus is very simple; build high quality suspension seats for distinctive applications, while providing excellent customer service.
As off road enthusiasts themselves, PRP knows how brutal the punishment can be to man and machine once you leave the highway, and over the years have developed proven solutions. The Company boasts the flexibility to provide robust seating, equipped with quality suspension, for practically any application.
Since November 2001, PRP's owners have participated in every form of off-roading, from racing to weekend trail riding, buggies to quads, jeeps to motorcycles. They bring over 20 years of specialized experience to the Company. Consequently, the "hands on" knowledge and expertise that has resulted is unparalleled.
"We have been very selective in this process. PRP's ability to built the exact seating we require, along with great quality and a completely American made product made the choice clear. We move forward with PRP in full confidence that their participation will contribute to the excellent quality that we will build into product," stated Patrick Galliher, CEO of RMD Technologies, Inc.
As RMD Technologies recently announced, the Company has commenced operations at the new facility located in San Marcos, California. The Company expects to launch sales of their new Electric Utility Vehicles during the fourth quarter of 2010 with delivery of the first units shortly thereafter.
RMD Technologies, Inc. has designed its vehicles to qualify for all federal and state purchasing incentives, including the current federal tax credit available under the Energy Improvement and Extension Act of 2008.
About RMD Technologies, Inc.
RMD Technologies, Inc. is a California based business founded in 2001. Since inception, RMDT has provided electronics recycling services to businesses, state and federal agencies. In 2007 RMDT began the development of an alternative energy vehicle using a large percentage of materials recycled from electronic waste. The result is a small electric vehicle design that incorporates recycled materials, clean electric energy and solar power.
Forward-looking Statement
Notice: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those set forth in the company's filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Please Visit Our Website for More Information at: www.RMDT.com
For Investor Relations Contact:
Patrick Galliher
(760-356-2039)
News and Stories Published at the 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.
Alternative Energy Stock News; Hybrid Energy Reports Progress on Operational Restructuring: Shift to Alternative Energy Sources Advances
Alternative Energy Stock News; Hybrid Energy Reports Progress on Operational Restructuring: Shift to Alternative Energy Sources Advances
RENO, NV--(http://www.investorideas.com/ clean energy stocks blog ) - September 29, 2010) - Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced today that its new management has made progress in its operational restructuring and resource deployment to Alternative Energy Sources, including PV and Solar Thermal Market and the Heavy Oil Extraction markets.
Earlier this month the Company announced that it planned to profitably divest its energy production assets as part of this transition and negotiations are presently underway with respect to the restructuring and/or selling of the Natural Gas Assets the Company acquired in early 2010.
Based on improved production performance resulting from efficiencies instituted by the Company, it is anticipated that the value of its holdings will provide the needed capital base to provide the necessary resources to advance its Alternative Energy initiatives.
The Company recently announced the signing of a Letter of Intent (LOI) with Visalo Energy, Inc. to acquire their Heavy Oil Extraction Technology, paving the way to enter the expanding $155 billion per year Heavy Oil Industry; and has since reported Visalo's August 10th patent filing for the heavy-oil extraction technology. The proprietary Visalo technology dramatically increases recovery rates to 90% or higher at substantially lower entry costs in the heavy oil production industry. The Company will earn revenues from the extraction and recovery of 'heavy oil' reserves from existing wells not in active production.
Hybrid Energy believes PV and Solar Thermal Market, particularly for residential and commercial use, is a high growth sector promising to become a significant and vital energy option primed for strong sales growth of the company's holdings and technologies. In its recent report 'United States PV Market 2010,' published July 26th, Solarbuzz forecasts the market will grow around ten times the size of the 2009 market, an average annual growth rate of 30% per annum.
The Company's foundation-building Phase I strategic plan called for traditional and proven fuel production acquisitions to establish revenues and assets. Building on its success, the Company launched Phase II of its growth strategy and began its transition to alternative and renewable energy and technology revenue models.
The Heavy Oil Extraction initiative, together with its Solar Energy Acquisition and Development Projects are anticipated to increase the Company's shareholder value.
The company is assessing the acquisition of several new assets, operations and technologies and encourages further technology submittals and developmental joint ventures through the Merger & Acquisition portal at www.HybridEnergyHoldings.com.
Based on the recent changes, the Company is completing reflective disclosure statements as part of its ongoing disclosure practices to provide updated information to all shareholders.
It is also anticipated that further announcements regarding progress of its New Energy initiatives, management, re-branding, office relocation and marketing presence to more accurately reflect its refocused operations.
The Company maintains its Website at: www.HybridEnergyHoldings.com
Safe-Harbor Statement
This release contains statements or projections regarding future performance that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's filings contain various RISK FACTORS (and are incorporated on the Company's website "Investors" section by reference) and should be read before any investment decision.
Contact:
Investor Relations
Tel: +1 (775) 636-7602
Fax: +1 (775) 996-7330
info@HybridEnergyHoldings.com
News and Stories Published at the 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.
RENO, NV--(http://www.investorideas.com/ clean energy stocks blog ) - September 29, 2010) - Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced today that its new management has made progress in its operational restructuring and resource deployment to Alternative Energy Sources, including PV and Solar Thermal Market and the Heavy Oil Extraction markets.
Earlier this month the Company announced that it planned to profitably divest its energy production assets as part of this transition and negotiations are presently underway with respect to the restructuring and/or selling of the Natural Gas Assets the Company acquired in early 2010.
Based on improved production performance resulting from efficiencies instituted by the Company, it is anticipated that the value of its holdings will provide the needed capital base to provide the necessary resources to advance its Alternative Energy initiatives.
The Company recently announced the signing of a Letter of Intent (LOI) with Visalo Energy, Inc. to acquire their Heavy Oil Extraction Technology, paving the way to enter the expanding $155 billion per year Heavy Oil Industry; and has since reported Visalo's August 10th patent filing for the heavy-oil extraction technology. The proprietary Visalo technology dramatically increases recovery rates to 90% or higher at substantially lower entry costs in the heavy oil production industry. The Company will earn revenues from the extraction and recovery of 'heavy oil' reserves from existing wells not in active production.
Hybrid Energy believes PV and Solar Thermal Market, particularly for residential and commercial use, is a high growth sector promising to become a significant and vital energy option primed for strong sales growth of the company's holdings and technologies. In its recent report 'United States PV Market 2010,' published July 26th, Solarbuzz forecasts the market will grow around ten times the size of the 2009 market, an average annual growth rate of 30% per annum.
The Company's foundation-building Phase I strategic plan called for traditional and proven fuel production acquisitions to establish revenues and assets. Building on its success, the Company launched Phase II of its growth strategy and began its transition to alternative and renewable energy and technology revenue models.
The Heavy Oil Extraction initiative, together with its Solar Energy Acquisition and Development Projects are anticipated to increase the Company's shareholder value.
The company is assessing the acquisition of several new assets, operations and technologies and encourages further technology submittals and developmental joint ventures through the Merger & Acquisition portal at www.HybridEnergyHoldings.com.
Based on the recent changes, the Company is completing reflective disclosure statements as part of its ongoing disclosure practices to provide updated information to all shareholders.
It is also anticipated that further announcements regarding progress of its New Energy initiatives, management, re-branding, office relocation and marketing presence to more accurately reflect its refocused operations.
The Company maintains its Website at: www.HybridEnergyHoldings.com
Safe-Harbor Statement
This release contains statements or projections regarding future performance that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's filings contain various RISK FACTORS (and are incorporated on the Company's website "Investors" section by reference) and should be read before any investment decision.
Contact:
Investor Relations
Tel: +1 (775) 636-7602
Fax: +1 (775) 996-7330
info@HybridEnergyHoldings.com
News and Stories Published at the 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.
Monday, September 27, 2010
Investorideas.com - Green Stock Alert; BioFuel (Nasdaq: BIOF) Enters Into Bridge Loan Agreement
Investorideas.com - Green Stock Alert; BioFuel (Nasdaq: BIOF) Enters Into Bridge Loan Agreement
BIOF trading at $2.36 USD, up 0.68 (40.43%)
DENVER - September 27, 2010 (http://www.investorideas.com/ renewable energy green newswire) - BIOFUEL ENERGY CORP. (Nasdaq: BIOF), an ethanol production company, reported on Friday that it has entered into a six-month bridge loan agreement with Greenlight Capital, Inc. and certain of its affiliates (collectively, "Greenlight") and an affiliate of Third Point LLC ("Third Point"). The proceeds from the bridge loan were used to repay in full its working capital loans under its senior debt facility. In addition, the Company has entered into an agreement with Greenlight and Third Point pursuant to which it has agreed to conduct a rights offering in which all holders of its Common Stock and Class B Common Stock will be granted the right to purchase convertible preferred stock of the Company, with the goal of generating sufficient proceeds to repay the bridge loan and BioFuel Energy, LLC's subordinated debt and to make certain other payments. These transactions were recommended to the Company's Board of Directors by a Special Committee comprised of independent directors. The Special Committee was advised by Piper Jaffray & Co.
This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This release contains certain forward-looking statements within the meaning of the Federal securities laws. Such statements are based on management's current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Factors that could cause actual results to differ from those anticipated are discussed in our Exchange Act filings and our Annual Report on Form 10-K. Readers are directed in particular to the Company's disclosures concerning liquidity matters and going concern considerations contained in our most recent Quarterly Report on Form 10-Q.
The Company currently has two 115 million gallons per year ethanol plants in the Midwestern corn belt. The Company's goal is to become a leading ethanol producer in the United States by acquiring, developing, owning and operating ethanol production facilities.
Contact:
Kelly G. MaguireExecutive Vice President &Chief Financial Officer(303) 640.6500mailto:640.6500kmaguire@bfenergy.com
For more information:
http://www.bfenergy.com/
More green investor info -
Published on http://www.investorideas.com/ - a leader in cleantech research for investors.
http://www.renewableenergystocks.com/ is one of several green investor portals within Investorideas.com, creating a meeting place for investors, public companies and industry leaders following developments in renewable and green energy. The site provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, research and a comprehensive global directory of stocks within the renewable energy sector. Investors can follow solar stocks commentary on our site with solar expert, J. Peter Lynch.
Visit the Investorideas.com Green Investor Portals: www.RenewableEnergyStocks.com, www.FuelCellCarNews.com, www.EnvironmentStocks.com, www.Water-Stocks.com all within the Investorideas.com hub.
Green Energy investors can research stocks with the Renewable Energy Stocks Directory, one of the most comprehensive directories online.
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
BIOF trading at $2.36 USD, up 0.68 (40.43%)
DENVER - September 27, 2010 (http://www.investorideas.com/ renewable energy green newswire) - BIOFUEL ENERGY CORP. (Nasdaq: BIOF), an ethanol production company, reported on Friday that it has entered into a six-month bridge loan agreement with Greenlight Capital, Inc. and certain of its affiliates (collectively, "Greenlight") and an affiliate of Third Point LLC ("Third Point"). The proceeds from the bridge loan were used to repay in full its working capital loans under its senior debt facility. In addition, the Company has entered into an agreement with Greenlight and Third Point pursuant to which it has agreed to conduct a rights offering in which all holders of its Common Stock and Class B Common Stock will be granted the right to purchase convertible preferred stock of the Company, with the goal of generating sufficient proceeds to repay the bridge loan and BioFuel Energy, LLC's subordinated debt and to make certain other payments. These transactions were recommended to the Company's Board of Directors by a Special Committee comprised of independent directors. The Special Committee was advised by Piper Jaffray & Co.
This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This release contains certain forward-looking statements within the meaning of the Federal securities laws. Such statements are based on management's current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Factors that could cause actual results to differ from those anticipated are discussed in our Exchange Act filings and our Annual Report on Form 10-K. Readers are directed in particular to the Company's disclosures concerning liquidity matters and going concern considerations contained in our most recent Quarterly Report on Form 10-Q.
The Company currently has two 115 million gallons per year ethanol plants in the Midwestern corn belt. The Company's goal is to become a leading ethanol producer in the United States by acquiring, developing, owning and operating ethanol production facilities.
Contact:
Kelly G. MaguireExecutive Vice President &Chief Financial Officer(303) 640.6500mailto:640.6500kmaguire@bfenergy.com
For more information:
http://www.bfenergy.com/
More green investor info -
Published on http://www.investorideas.com/ - a leader in cleantech research for investors.
http://www.renewableenergystocks.com/ is one of several green investor portals within Investorideas.com, creating a meeting place for investors, public companies and industry leaders following developments in renewable and green energy. The site provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, research and a comprehensive global directory of stocks within the renewable energy sector. Investors can follow solar stocks commentary on our site with solar expert, J. Peter Lynch.
Visit the Investorideas.com Green Investor Portals: www.RenewableEnergyStocks.com, www.FuelCellCarNews.com, www.EnvironmentStocks.com, www.Water-Stocks.com all within the Investorideas.com hub.
Green Energy investors can research stocks with the Renewable Energy Stocks Directory, one of the most comprehensive directories online.
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
Sunday, September 26, 2010
Biotech Stocks To Watch; (OTCBB: UVFT), (OTCBB: KBLB), (NASDAQ:AMGN), (NYSE:ELN)
Biotech Stocks To Watch; (OTCBB: UVFT), (OTCBB: KBLB), (NASDAQ:AMGN), (NYSE:ELN)
Point Roberts, WA - (Investorideas.com Newswire) - InvestorIdeas.com, leader in sector research for investors, reports on recent Biotech/ Healthcare Stocks news and trading for September 24th.
Biotech Stocks include UV Flu Technologies, Inc., (OTCBB: UVFT), Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB), Amgen Inc. (NASDAQ:AMGM), and Elan Corp. plc (NYSE: ELN)
Sector Snapshot: (Trading at time or release)
UV Flu Technologies, Inc., (OTCBB: UVFT) trading at $ 0.31, up 0.01 (3.33%)
Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB), trading at $ 0. 2145, up 0.0630 (41.58%) on Volume of 20,704,335 shares
Amgen Inc. (NASDAQ:AMGN), trading at $ 56.10, up 0.38 (0.68%)
Elan Corp. plc NYSE:ELN) trading at $ 5.42, up 0.30 (5.86%)
Biotech Stocks to Watch News
UV Flu Technologies, Inc., (OTCBB: UVFT) Key Highlights and Recent Press
UV Flu Technologies, Inc., (OTCBB: UVFT) is an innovative developer, manufacturer and distributor of bio technology products initially targeting the rapidly growing Indoor Air Quality ("IAQ") industry sector. The Company manufactures the VIRATECH UV-400, which utilizes high-intensity germicidal ultraviolet radiation (UV-C) inside a killing chamber that goes beyond filtration to destroy harmful airborne bacteria at rates exceeding 99.2% on a first-pass basis. UV Flu is committed to providing clean air to improve health and prevent the spread of disease.
The company recently announced that in response to recent outbreaks of drug resistant superbugs such as NDM-1, and persistent occurrences of highly contagious strains of bacteria such as MRSA, the Company is implementing a national campaign to inform the public how its ViraTech UV-400 indoor air purifier significantly helps reduce exposure risks.
The U.S. CDC has described antibiotic resistance as “one of the world’s most pressing health problems” as “the number of bacteria resistant to antibiotics has increased in the last decade [and] … many bacterial infections are becoming resistant to the most commonly prescribed antibiotic treatments.” The World Health Organization (WHO) has identified antibiotic resistance as “one of the three greatest threats to human health.” Source : http://www.idsociety.org/10x20.htm
Latest News:
“UV Flu Technologies, Inc. (OTCBB: UVFT) (the “Company”) is pleased to announce that the company and its flagship UV-400 air purification system will be featured on a segment of the “Designing Spaces” TV Show, to be aired nationally during the 4th quarter. The show, to be aired on the Women’s Entertainment channel, is scheduled for the holiday season and is expected to reach up to 75 million households.”
Full Article:
Website: http://www.uvflutech.com/
UV Flu Technologies, Inc., Key Highlights
• FDA Approved as a Class II Medical device
• Extensive testing by EPA and FDA certified laboratories
confirm the proprietary system has over 99% effectiveness of eliminating bacteria
• The Company’s strategic differentiators include excellent independent test
results proving the effectiveness and safety of its products, proprietary design,
and FDA market clearance approving the sale of its products as medical
devices.
• The Company has been issued U.S. Patent No. 6939397 with 43 claims covering
its innovative removable cartridge, housing, UV chamber, UV radiation
source and baffle technology.
• UV Flu’s products are environmentally friendly. The energy efficient system
does not use or produce ozone, uses less energy than a 100 watt light bulb
and can qualify for Green Building programs.
• Experts have warned that a new type of drug-resistant superbug is emerging.
NDM-1 is a gene carried by bacteria that makes the strain resistant to some of
the most powerful antibiotics. NDM-1 can easily now jump from one strain of
bacteria to another.
Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB)
Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB) Recent News: “Kraig Biocraft Laboratories, Inc. is very pleased to announce that the University of Notre Dame and Kraig Biocraft Laboratories will hold a joint press conference Wednesday, September 29, 2010 on the Notre Dame campus to describe a new research breakthrough and its possible biomedical and commercial applications.”
Full Article: http://finance.yahoo.com/news/University-of-Notre-Dame-and-iw-1958169015.html?x=0&.v=1
About Kraig Biocraft Laboratories, Inc: is a biotechnology company focused on the development of commercially significant high performance polymers and technical fiber. Based on proprietary genetic engineering technology, Kraig is working to develop and produce polymers and protein-based materials including spider silk. Our work is focused on the development of spider silk and other high strength polymers that we believe have the potential for significant industrial and consumer applications. http://www.kraiglabs.com/
Market Snapshot: (at time of release)
Dow 10,865.10 +202.68 +1.90%
Nasdaq 2,378.20 +51.12 +2.20%
S&P 500 1,148.57 +23.74 +2.11%
10 Yr Bond(%) 2.6100% +0.5500
Oil 76.42 +1.24 +1.65%
Gold 1,295.40 +1.10 +0.08%
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing, covering leading industry sectors including mining and gold stocks, in addition to global markets including China, India, the Middle East and Australia. Investorideas.com is known for its comprehensive stock directories in each sector and sector specific newswires.
Research more biotech stocks at the Biotech stocks Directory: http://www.investorideas.com/BIS/Stock_List.asp
About our Biotech investor portal:
BiotechIndustryStocks.com Portal is a global meeting place for investors and industry following the sector, within Investorideas.com. Global visitors use the site daily to research the latest news, articles, audio, research reports and our stock directories.
Disclaimer: The following news is paid for by third party on behalf of UV Flu Technologies, Inc., (eight hundred) 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
C Van Zant: 800-665-0411 - cvanzant@investorideas.com
Source - Investorideas.com
Point Roberts, WA - (Investorideas.com Newswire) - InvestorIdeas.com, leader in sector research for investors, reports on recent Biotech/ Healthcare Stocks news and trading for September 24th.
Biotech Stocks include UV Flu Technologies, Inc., (OTCBB: UVFT), Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB), Amgen Inc. (NASDAQ:AMGM), and Elan Corp. plc (NYSE: ELN)
Sector Snapshot: (Trading at time or release)
UV Flu Technologies, Inc., (OTCBB: UVFT) trading at $ 0.31, up 0.01 (3.33%)
Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB), trading at $ 0. 2145, up 0.0630 (41.58%) on Volume of 20,704,335 shares
Amgen Inc. (NASDAQ:AMGN), trading at $ 56.10, up 0.38 (0.68%)
Elan Corp. plc NYSE:ELN) trading at $ 5.42, up 0.30 (5.86%)
Biotech Stocks to Watch News
UV Flu Technologies, Inc., (OTCBB: UVFT) Key Highlights and Recent Press
UV Flu Technologies, Inc., (OTCBB: UVFT) is an innovative developer, manufacturer and distributor of bio technology products initially targeting the rapidly growing Indoor Air Quality ("IAQ") industry sector. The Company manufactures the VIRATECH UV-400, which utilizes high-intensity germicidal ultraviolet radiation (UV-C) inside a killing chamber that goes beyond filtration to destroy harmful airborne bacteria at rates exceeding 99.2% on a first-pass basis. UV Flu is committed to providing clean air to improve health and prevent the spread of disease.
The company recently announced that in response to recent outbreaks of drug resistant superbugs such as NDM-1, and persistent occurrences of highly contagious strains of bacteria such as MRSA, the Company is implementing a national campaign to inform the public how its ViraTech UV-400 indoor air purifier significantly helps reduce exposure risks.
The U.S. CDC has described antibiotic resistance as “one of the world’s most pressing health problems” as “the number of bacteria resistant to antibiotics has increased in the last decade [and] … many bacterial infections are becoming resistant to the most commonly prescribed antibiotic treatments.” The World Health Organization (WHO) has identified antibiotic resistance as “one of the three greatest threats to human health.” Source : http://www.idsociety.org/10x20.htm
Latest News:
“UV Flu Technologies, Inc. (OTCBB: UVFT) (the “Company”) is pleased to announce that the company and its flagship UV-400 air purification system will be featured on a segment of the “Designing Spaces” TV Show, to be aired nationally during the 4th quarter. The show, to be aired on the Women’s Entertainment channel, is scheduled for the holiday season and is expected to reach up to 75 million households.”
Full Article:
Website: http://www.uvflutech.com/
UV Flu Technologies, Inc., Key Highlights
• FDA Approved as a Class II Medical device
• Extensive testing by EPA and FDA certified laboratories
confirm the proprietary system has over 99% effectiveness of eliminating bacteria
• The Company’s strategic differentiators include excellent independent test
results proving the effectiveness and safety of its products, proprietary design,
and FDA market clearance approving the sale of its products as medical
devices.
• The Company has been issued U.S. Patent No. 6939397 with 43 claims covering
its innovative removable cartridge, housing, UV chamber, UV radiation
source and baffle technology.
• UV Flu’s products are environmentally friendly. The energy efficient system
does not use or produce ozone, uses less energy than a 100 watt light bulb
and can qualify for Green Building programs.
• Experts have warned that a new type of drug-resistant superbug is emerging.
NDM-1 is a gene carried by bacteria that makes the strain resistant to some of
the most powerful antibiotics. NDM-1 can easily now jump from one strain of
bacteria to another.
Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB)
Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB) Recent News: “Kraig Biocraft Laboratories, Inc. is very pleased to announce that the University of Notre Dame and Kraig Biocraft Laboratories will hold a joint press conference Wednesday, September 29, 2010 on the Notre Dame campus to describe a new research breakthrough and its possible biomedical and commercial applications.”
Full Article: http://finance.yahoo.com/news/University-of-Notre-Dame-and-iw-1958169015.html?x=0&.v=1
About Kraig Biocraft Laboratories, Inc: is a biotechnology company focused on the development of commercially significant high performance polymers and technical fiber. Based on proprietary genetic engineering technology, Kraig is working to develop and produce polymers and protein-based materials including spider silk. Our work is focused on the development of spider silk and other high strength polymers that we believe have the potential for significant industrial and consumer applications. http://www.kraiglabs.com/
Market Snapshot: (at time of release)
Dow 10,865.10 +202.68 +1.90%
Nasdaq 2,378.20 +51.12 +2.20%
S&P 500 1,148.57 +23.74 +2.11%
10 Yr Bond(%) 2.6100% +0.5500
Oil 76.42 +1.24 +1.65%
Gold 1,295.40 +1.10 +0.08%
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing, covering leading industry sectors including mining and gold stocks, in addition to global markets including China, India, the Middle East and Australia. Investorideas.com is known for its comprehensive stock directories in each sector and sector specific newswires.
Research more biotech stocks at the Biotech stocks Directory: http://www.investorideas.com/BIS/Stock_List.asp
About our Biotech investor portal:
BiotechIndustryStocks.com Portal is a global meeting place for investors and industry following the sector, within Investorideas.com. Global visitors use the site daily to research the latest news, articles, audio, research reports and our stock directories.
Disclaimer: The following news is paid for by third party on behalf of UV Flu Technologies, Inc., (eight hundred) 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
C Van Zant: 800-665-0411 - cvanzant@investorideas.com
Source - Investorideas.com
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