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
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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)
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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 $77.8 million at June 30, 2009 in preparation for additional volumes of CPU and an anticipated increase in raw material prices. As at June 30, 2010, Hanfeng had bank loan of nil and had no long-term debt.
Balance Sheet Highlights
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(In CAD$ thousands except for ratios) June 30, 2010 June 30, 2009
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Current ratio 40.8:1 4.4:1
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Cash & cash equivalents 51,949 92,342
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Working capital 166,597 148,786
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Total assets 286,781 317,266
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Total debt Nil 39,146
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Total equity 282,596 273,777
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Debt / Equity N/A 14%
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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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Wednesday, September 29, 2010
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/
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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
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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
Friday, September 24, 2010
Investorideas.com - Solar Stocks Trading Alert; (NasdaqGS: FSLR), (NasdaqGS: SPWRA), (OTCBB: XSNX)
Investorideas.com - Solar Stocks Trading Alert; (NasdaqGS: FSLR), (NasdaqGS: SPWRA), (OTCBB: XSNX)
California's Green Initiative Helps Boost FSLR
September 24, 2010, www.RenewableEnergyStocks.com, a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close up on solar stocks trading. As California announced a new standard of : 33% of electricity from renewable sources by 2020, several leading solar stocks including FSLR see gains.
According to Thursday's release – "The regulation establishing the 33 percent renewable electricity standard was adopted today unanimously by the California Air Resources Board. The standard will promote green jobs to construct and run renewable facilities in California, reduce hundreds of tons of harmful air pollution, insulate California's economy from the shock of volatile natural gas prices and help establish the state as a global leader in the research, development and manufacturing of clean, renewable energy sources."
The sector was also helped as Piper Jaffray analyst added solar stocks to its Overweight list including : Yingli Green Energy (YGE), First Solar (FSLR), SunPower (SPWRA), Trina Solar (TSL), SunTech Power (STP), JA Solar (JASO), GT Solar (SOLR), ReneSola (SOL), and LDK Solar (LDK).
Solar Stocks Trading September 24th
Ascent Solar Technologies, Inc. (NasdaqGM: ASTI) trading at $ 2.94, up 0.10 (3.52%) 10:53AM EDT
Canadian Solar Inc. (NasdaqGM: CSIQ) trading at $12.70, up 0.34 (2.75%) 11:20AM EDT
First Solar, Inc. (NasdaqGS: FSLR) trading at $ 146.00, up 2.77 (1.93%) 11:20AM EDT
JA Solar (NASDAQ: JASO) trading at $ 8.12, up 0.26 (3.31%) 11:24AM EDT
JinkoSolar Holding Company Limi (NYSE:JKS) trading at $ 29.67, up 0.42 (1.44%) 11:15AM EDT
Solarfun Power Holdings Co., Lt (NasdaqGS: SOLF) trading at $ 11.94, up 0.20 (1.70%) 11:27AM EDT
SunPower Corporation (NasdaqGS: SPWRA) trading at $ 13.75, down 0.17 (1.22%) 11:27AM EDT
Suntech Power Holdings Co. Ltd (NYSE:STP) trading at $ 9.34, down 0.01 (0.11%) 11:29AM EDT
Trina Solar (NYSE:TSL) trading at $ 27.73, up 1.06 (3.98%) 11:31AM EDT
XsunX Inc: (OTCBB: XSNX) trading at $0.0861
Investors follow solar stocks can read Solar Stocks Commentary with J. Peter LynchLearn about solar stocks, the solar industry and solar innovation with J. PETER LYNCH at Investorideas.com and Renewableenergystocks.comhttp://www.investorideas.com/PL/
Most recent article by J Peter Lynch:
Solar Stocks Continue to Follow thru on recent Rally; Solar Stocks and Market Commentary with J Peter Lynch - September 17 -
Read more: http://www.renewableenergystocks.com/PL/news/9021.asp
Showcase solar stock at Investorideas.com:
About XsunX, Inc. - Solar Products for Life on Earth
XsunX, Inc. (OTCBB:XSNX) is working to provide a clean and capital efficient solution for the mass production of the highest efficiency, lowest cost CIGS thin-film solar cells using our new CIGSolar™ technology.
Website: http://www.xsunx.com/Twitter: http://twitter.com/XsunXINC
Visit the Company Profile page for XsunX, Inc. (OTCBB: XSNX)http://www.investorideas.com/CO/XSNX/
Visit our showcase green stocks and research green stocks at: www.renewableenergystocks.com and http://www.investorideas.com/GI/
Research other solar with the renewable energy stocks directory; a global stock directory featuring over 1200 green stocks.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content that currently features an additional 10 stock directories, including the water stocks directory and all cleantech stock directories. http://www.investorideas.com/membership/
About Our Green Investor content:
Investorideas.com was on the of the first investor sites covering investing in water and renewable energy stocks and has become a global go-to destination for investors researching the cleantech sector, with stock directories, company news, commentary from experts, research reports and industry resources and links. Investors can follow solar stocks commentary on our site with solar expert, J. Peter Lynch.
To learn about becoming a featured renewable energy or green showcase stock, contact us below.http://www.investorideas.com/Investors/Renewable_Energy_Awareness.asp
Disclaimer/ Disclosure: XsunX, Inc. (OTCBB: XSNX) is a paid advertising client on Investorideas.com – twenty five hundred per month. Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Learn more www.InvestorIdeas.com/About/Disclaimer.asp, http://www.investorideas.com/About/News/Clientspecifics.asp
For more information contact:
800.665.0411Dvanzant@investorideas.com
California's Green Initiative Helps Boost FSLR
September 24, 2010, www.RenewableEnergyStocks.com, a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close up on solar stocks trading. As California announced a new standard of : 33% of electricity from renewable sources by 2020, several leading solar stocks including FSLR see gains.
According to Thursday's release – "The regulation establishing the 33 percent renewable electricity standard was adopted today unanimously by the California Air Resources Board. The standard will promote green jobs to construct and run renewable facilities in California, reduce hundreds of tons of harmful air pollution, insulate California's economy from the shock of volatile natural gas prices and help establish the state as a global leader in the research, development and manufacturing of clean, renewable energy sources."
The sector was also helped as Piper Jaffray analyst added solar stocks to its Overweight list including : Yingli Green Energy (YGE), First Solar (FSLR), SunPower (SPWRA), Trina Solar (TSL), SunTech Power (STP), JA Solar (JASO), GT Solar (SOLR), ReneSola (SOL), and LDK Solar (LDK).
Solar Stocks Trading September 24th
Ascent Solar Technologies, Inc. (NasdaqGM: ASTI) trading at $ 2.94, up 0.10 (3.52%) 10:53AM EDT
Canadian Solar Inc. (NasdaqGM: CSIQ) trading at $12.70, up 0.34 (2.75%) 11:20AM EDT
First Solar, Inc. (NasdaqGS: FSLR) trading at $ 146.00, up 2.77 (1.93%) 11:20AM EDT
JA Solar (NASDAQ: JASO) trading at $ 8.12, up 0.26 (3.31%) 11:24AM EDT
JinkoSolar Holding Company Limi (NYSE:JKS) trading at $ 29.67, up 0.42 (1.44%) 11:15AM EDT
Solarfun Power Holdings Co., Lt (NasdaqGS: SOLF) trading at $ 11.94, up 0.20 (1.70%) 11:27AM EDT
SunPower Corporation (NasdaqGS: SPWRA) trading at $ 13.75, down 0.17 (1.22%) 11:27AM EDT
Suntech Power Holdings Co. Ltd (NYSE:STP) trading at $ 9.34, down 0.01 (0.11%) 11:29AM EDT
Trina Solar (NYSE:TSL) trading at $ 27.73, up 1.06 (3.98%) 11:31AM EDT
XsunX Inc: (OTCBB: XSNX) trading at $0.0861
Investors follow solar stocks can read Solar Stocks Commentary with J. Peter LynchLearn about solar stocks, the solar industry and solar innovation with J. PETER LYNCH at Investorideas.com and Renewableenergystocks.comhttp://www.investorideas.com/PL/
Most recent article by J Peter Lynch:
Solar Stocks Continue to Follow thru on recent Rally; Solar Stocks and Market Commentary with J Peter Lynch - September 17 -
Read more: http://www.renewableenergystocks.com/PL/news/9021.asp
Showcase solar stock at Investorideas.com:
About XsunX, Inc. - Solar Products for Life on Earth
XsunX, Inc. (OTCBB:XSNX) is working to provide a clean and capital efficient solution for the mass production of the highest efficiency, lowest cost CIGS thin-film solar cells using our new CIGSolar™ technology.
Website: http://www.xsunx.com/Twitter: http://twitter.com/XsunXINC
Visit the Company Profile page for XsunX, Inc. (OTCBB: XSNX)http://www.investorideas.com/CO/XSNX/
Visit our showcase green stocks and research green stocks at: www.renewableenergystocks.com and http://www.investorideas.com/GI/
Research other solar with the renewable energy stocks directory; a global stock directory featuring over 1200 green stocks.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content that currently features an additional 10 stock directories, including the water stocks directory and all cleantech stock directories. http://www.investorideas.com/membership/
About Our Green Investor content:
Investorideas.com was on the of the first investor sites covering investing in water and renewable energy stocks and has become a global go-to destination for investors researching the cleantech sector, with stock directories, company news, commentary from experts, research reports and industry resources and links. Investors can follow solar stocks commentary on our site with solar expert, J. Peter Lynch.
To learn about becoming a featured renewable energy or green showcase stock, contact us below.http://www.investorideas.com/Investors/Renewable_Energy_Awareness.asp
Disclaimer/ Disclosure: XsunX, Inc. (OTCBB: XSNX) is a paid advertising client on Investorideas.com – twenty five hundred per month. Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Learn more www.InvestorIdeas.com/About/Disclaimer.asp, http://www.investorideas.com/About/News/Clientspecifics.asp
For more information contact:
800.665.0411Dvanzant@investorideas.com
Thursday, September 23, 2010
Cleantech News; Establishing the Cleantech 20 by 2020: Cleantech Sector Key to Future Economic and Social Growth in Prairies
Cleantech News; Establishing the Cleantech 20 by 2020: Cleantech Sector Key to Future Economic and Social Growth in Prairies
2010 SDTC Cleantech Growth and Go-To-Market Report-Prairie Edition launched today
REGINA, SASKATCHEWAN--(http://www.investorideas.com/ clean energy stocks blog ) - Sept. 23, 2010) - Emerging clean technology companies are on the cusp of providing an economic, social, and environmental boost to Canada's Prairie Provinces.
Currently, more than 100 clean technology companies are in the process of commercializing new products across Alberta, Saskatchewan, and Manitoba. The report demonstrates that the Canadian clean tech industry was very resilient during the recession – between 2007 and 2009, the overall compound annual growth rate was 47% and growth was seen in both the high-growth and more established sectors.
Nearly three quarters of the prairies' clean technology companies were created as a result of a concept developed by an entrepreneur. In contrast, only nine percent of these companies were created as a result of technology developed through academic institutions, be it licensed or by the entrepreneur as an academic.
The Prairie edition of Canada's first-ever comprehensive report on the clean technology industry, 2010 SDTC Cleantech Growth and Go-To-Market Report , launched today, also found that sixty-four percent of the 106 cleantech companies in the prairies are technology product companies, thirty-two percent are technology-enabled service companies, and four percent are large-scale and distributed processing companies.
"This is a very exciting report because it gives emerging cleantech companies, organizations assisting these companies, and governments, the information we need to know to enhance the growth of this important industry," said Susan Gorges, CEO of SpringBoard West Innovations. "The information in the report will be a significant help to us as we create and enhance services to meet the needs of local cleantech entrepreneurs."
The report includes input from 168 Canadian cleantech companies including 28 from the Prairies. It looks at the state of the clean technology industry, with the intent of helping to build a globally competitive cleantech industry in Canada. The report also examines factors impacting investment in commercialization, which plays a key role in company growth.
"The Canadian cleantech industry has plenty of potential to build globally-competitive companies," said Céline Bak, Partner with the Russell Mitchell Group. "But, being global technology leaders is that much harder when early adopter markets are far from home. A thriving Canadian cleantech industry depends on more than just technological innovation; we will need to build strong domestic markets while at the same time, investing in world-class commercialization for customers at home and abroad."
Based on the survey and research findings, the 2010 SDTC Cleantech Growth and Go-To-Market Report proposes a plan that will enable Canada to have developed twenty cleantech companies that have achieved $100 million in annual revenues by the year 2020. The plan provides a list of recommendations including:
Investing in best practices and benchmarks for investment in commercialization as a driver of revenue growth
Ensuring emerging cleantech companies are able to access investment capital
Taxation changes that encourage investment in Canada's cleantech industry;
Policies to stimulate green procurement by large organizations and governments;
Deployment of financing vehicles, such as flow-through shares and debt products for technology-based companies, to address the gap between supply and demand for growth capital.
Regulation of greenhouse gases, which is one of the most important drivers for clean technology adoption worldwide.
While the report found that cleantech industries continue to require assistance in accessing capital, it also found that the investment required by companies in this industry is less than might be anticipated – 96% of the companies surveyed were found to have capital requirements of between $1million and $30 million.
"As clean technology is being integrated into virtually every sector of Canada's economy, it is essential that we identify the opportunities they create," said Vicky Sharpe, President and CEO of Sustainable Development Technology Canada (SDTC). "This report will be a great tool for the industry and for all levels of government to better understand the current state of the cleantech sector in the Prairies so that the region can take full advantage of these opportunities."
The Report, which is available in 5 editions (National, BC, Prairies, Ontario and Quebec), was produced by the Russell Mitchell Group in partnership with six provinces and five federal departments. It was sponsored by title sponsor SDTC, Industry Sponsor OMERS, presenting sponsor OCETA as well as BC Hydro, Business Development Bank of Canada (BDC), C3E, Cenovus, Export Development Canada (EDC), Encana, Lixar, Ogilvy Renault, RBC and the Stonewood Group.
It is complemented by an on-line database containing 436 companies with a view to making the industry more readily accessible to company managers, investors, procurers and government officials. The database can be found at www.cleantechnologyreport2010.ca
Sponsors, partners, and supporters of the Report include: Alberta Innovates – Technology Futures; BC Hydro; BDC; British Columbia Innovation Council; C3E; Cenovus Energy; Climate Change Central; CVCA; EnCana; Enterprise Saskatchewan; Enviro-access; Environment Canada; Export Development Canada; Foreign Affairs and International Trade Canada; Government of Manitoba; Greening Greater Toronto; Industry Canada; LifeSciences British Columbia; Lixar; Natural Resources Canada; OCETA; OCRI; Ogilvy Renault LLP; OMERS; Ontario Ministry of Research and Innovation; Quebec Ministry of Economic Development, Innovation and Export Trade; RBC; SpringBoard West Innovations; Stonewood Group; TMX Group; Western Economic Diversification Canada; and XPV Capital.
About SpringBoard West Innovations
SpringBoard West Innovations Inc. is a non-profit organization established to help innovators transform an idea into a commercial reality and to help organizations access important new innovations. SpringBoard staff works alongside Saskatchewan entrepreneurs to accelerate the transformation of new ideas into marketable products and services. The organization provides services to a range of technology clients within Saskatchewan.
About SDTC
Sustainable Development Technology Canada (SDTC) is an arm's-length foundation created by the Government of Canada which has received $1.05 billion as part of the Government's commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.
About the Russell Mitchell Group
The Russell Mitchell Group is an advisory firm focused on technology commercialization in the clean technology and ICT sectors. Founded by industry veterans with decades of operating and consulting experience, Russell Mitchell delivers strategic advice and operational support to emerging technology businesses, investment firms, financial institutions and government ministries.
Working with emerging company leaders to identify and capitalize on opportunities for growth, Russell Mitchell has helped some of Canada's most successful technology companies become global market leaders. Bringing insight and expertise gained by working with hundreds of companies across Canada and unparalleled proprietary industry research, Russell Mitchell offers: Business Planning; Corporate and Product Strategy; Technology Licensing; Go-to-Market Strategy; Strategic Planning; Business Risk and Performance Management; International Expansion; Hands-on Operational Support; Due Diligence; and Industry and Market Research. With offices in Toronto and Ottawa, the Russell Mitchell Group serves clients across Canada, as well as abroad.
An executive summary and the full Report can be found at www.cleantechnologyreport2010.ca
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.
2010 SDTC Cleantech Growth and Go-To-Market Report-Prairie Edition launched today
REGINA, SASKATCHEWAN--(http://www.investorideas.com/ clean energy stocks blog ) - Sept. 23, 2010) - Emerging clean technology companies are on the cusp of providing an economic, social, and environmental boost to Canada's Prairie Provinces.
Currently, more than 100 clean technology companies are in the process of commercializing new products across Alberta, Saskatchewan, and Manitoba. The report demonstrates that the Canadian clean tech industry was very resilient during the recession – between 2007 and 2009, the overall compound annual growth rate was 47% and growth was seen in both the high-growth and more established sectors.
Nearly three quarters of the prairies' clean technology companies were created as a result of a concept developed by an entrepreneur. In contrast, only nine percent of these companies were created as a result of technology developed through academic institutions, be it licensed or by the entrepreneur as an academic.
The Prairie edition of Canada's first-ever comprehensive report on the clean technology industry, 2010 SDTC Cleantech Growth and Go-To-Market Report , launched today, also found that sixty-four percent of the 106 cleantech companies in the prairies are technology product companies, thirty-two percent are technology-enabled service companies, and four percent are large-scale and distributed processing companies.
"This is a very exciting report because it gives emerging cleantech companies, organizations assisting these companies, and governments, the information we need to know to enhance the growth of this important industry," said Susan Gorges, CEO of SpringBoard West Innovations. "The information in the report will be a significant help to us as we create and enhance services to meet the needs of local cleantech entrepreneurs."
The report includes input from 168 Canadian cleantech companies including 28 from the Prairies. It looks at the state of the clean technology industry, with the intent of helping to build a globally competitive cleantech industry in Canada. The report also examines factors impacting investment in commercialization, which plays a key role in company growth.
"The Canadian cleantech industry has plenty of potential to build globally-competitive companies," said Céline Bak, Partner with the Russell Mitchell Group. "But, being global technology leaders is that much harder when early adopter markets are far from home. A thriving Canadian cleantech industry depends on more than just technological innovation; we will need to build strong domestic markets while at the same time, investing in world-class commercialization for customers at home and abroad."
Based on the survey and research findings, the 2010 SDTC Cleantech Growth and Go-To-Market Report proposes a plan that will enable Canada to have developed twenty cleantech companies that have achieved $100 million in annual revenues by the year 2020. The plan provides a list of recommendations including:
Investing in best practices and benchmarks for investment in commercialization as a driver of revenue growth
Ensuring emerging cleantech companies are able to access investment capital
Taxation changes that encourage investment in Canada's cleantech industry;
Policies to stimulate green procurement by large organizations and governments;
Deployment of financing vehicles, such as flow-through shares and debt products for technology-based companies, to address the gap between supply and demand for growth capital.
Regulation of greenhouse gases, which is one of the most important drivers for clean technology adoption worldwide.
While the report found that cleantech industries continue to require assistance in accessing capital, it also found that the investment required by companies in this industry is less than might be anticipated – 96% of the companies surveyed were found to have capital requirements of between $1million and $30 million.
"As clean technology is being integrated into virtually every sector of Canada's economy, it is essential that we identify the opportunities they create," said Vicky Sharpe, President and CEO of Sustainable Development Technology Canada (SDTC). "This report will be a great tool for the industry and for all levels of government to better understand the current state of the cleantech sector in the Prairies so that the region can take full advantage of these opportunities."
The Report, which is available in 5 editions (National, BC, Prairies, Ontario and Quebec), was produced by the Russell Mitchell Group in partnership with six provinces and five federal departments. It was sponsored by title sponsor SDTC, Industry Sponsor OMERS, presenting sponsor OCETA as well as BC Hydro, Business Development Bank of Canada (BDC), C3E, Cenovus, Export Development Canada (EDC), Encana, Lixar, Ogilvy Renault, RBC and the Stonewood Group.
It is complemented by an on-line database containing 436 companies with a view to making the industry more readily accessible to company managers, investors, procurers and government officials. The database can be found at www.cleantechnologyreport2010.ca
Sponsors, partners, and supporters of the Report include: Alberta Innovates – Technology Futures; BC Hydro; BDC; British Columbia Innovation Council; C3E; Cenovus Energy; Climate Change Central; CVCA; EnCana; Enterprise Saskatchewan; Enviro-access; Environment Canada; Export Development Canada; Foreign Affairs and International Trade Canada; Government of Manitoba; Greening Greater Toronto; Industry Canada; LifeSciences British Columbia; Lixar; Natural Resources Canada; OCETA; OCRI; Ogilvy Renault LLP; OMERS; Ontario Ministry of Research and Innovation; Quebec Ministry of Economic Development, Innovation and Export Trade; RBC; SpringBoard West Innovations; Stonewood Group; TMX Group; Western Economic Diversification Canada; and XPV Capital.
About SpringBoard West Innovations
SpringBoard West Innovations Inc. is a non-profit organization established to help innovators transform an idea into a commercial reality and to help organizations access important new innovations. SpringBoard staff works alongside Saskatchewan entrepreneurs to accelerate the transformation of new ideas into marketable products and services. The organization provides services to a range of technology clients within Saskatchewan.
About SDTC
Sustainable Development Technology Canada (SDTC) is an arm's-length foundation created by the Government of Canada which has received $1.05 billion as part of the Government's commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.
About the Russell Mitchell Group
The Russell Mitchell Group is an advisory firm focused on technology commercialization in the clean technology and ICT sectors. Founded by industry veterans with decades of operating and consulting experience, Russell Mitchell delivers strategic advice and operational support to emerging technology businesses, investment firms, financial institutions and government ministries.
Working with emerging company leaders to identify and capitalize on opportunities for growth, Russell Mitchell has helped some of Canada's most successful technology companies become global market leaders. Bringing insight and expertise gained by working with hundreds of companies across Canada and unparalleled proprietary industry research, Russell Mitchell offers: Business Planning; Corporate and Product Strategy; Technology Licensing; Go-to-Market Strategy; Strategic Planning; Business Risk and Performance Management; International Expansion; Hands-on Operational Support; Due Diligence; and Industry and Market Research. With offices in Toronto and Ottawa, the Russell Mitchell Group serves clients across Canada, as well as abroad.
An executive summary and the full Report can be found at www.cleantechnologyreport2010.ca
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.
Solar Stock News; Evergreen Solar (NasdaqGM: ESLR) Appoints Michael El-Hillow President and Chief Executive Officer
Solar Stock News; Evergreen Solar (NasdaqGM: ESLR) Appoints Michael El-Hillow President and Chief Executive Officer
MARLBORO, Mass.--(http://www.investorideas.com/ clean energy stocks blog )--Evergreen Solar, Inc. (NasdaqGM: ESLR), a manufacturer of String Ribbon® solar power products with its proprietary, low-cost silicon wafer technology, today announced that it has appointed Michael El-Hillow to the position of President and Chief Executive Officer effective immediately, replacing Richard M. Feldt who has accepted the position of Chief Executive Officer with a privately-held company. Mr. El-Hillow was also re-elected a director of the Company at a September 22, 2010 meeting of the Board.
“He has left a great platform that our stakeholders, customers and employees will continue to benefit from as we further leverage our unique technology and extend our leadership position as solar power becomes an increasingly critical resource for growing economies worldwide.”
.Mr. El-Hillow previously served as Chairman of the Board for Evergreen from October 2005 to January 2007 when he was recruited to the Company as the Chief Financial Officer. In September 2009, he also assumed the responsibilities of Chief Operations Officer. Mr. El-Hillow will continue to oversee operations in his new role. The Company will immediately begin a search for a Chief Financial Officer. Paul Kawa, Corporate Controller, will serve as interim Chief Financial Officer.
Edward C. Grady will succeed Mr. Feldt as the Chairman of the Evergreen Solar Board of Directors. Mr. Grady has been a director since 2005 and has most recently served the Board as its lead independent director. In commenting on Mr. El-Hillow’s appointment he stated, “In his roles as both corporate executive and board member Mike has played an instrumental role in both our evolution and growth. His leadership has been a catalyst in Evergreen’s expansion from a small regional technology company into a global manufacturing and customer service organization with facilities and offices in the United States, Europe and Asia. In addition to his financial role, Mike assumed significant operational responsibilities over the last year. His direct leadership is driving our Devens facility to exceed all of its operating goals as well as enabling Evergreen to move decisively with its expansion in China.”
Mr. Grady added, “Mike’s intimate involvement in all facets of Evergreen’s strategy and operations position him as the ideal executive for elevating the Company’s operational and commercialization success. The Board is extremely pleased to have someone of Mike’s caliber and demonstrated talent leading this Company.”
“It has been a pleasure working with Rick as he guided Evergreen Solar over the last seven years and he will be missed,” said Mr. El-Hillow. “He has left a great platform that our stakeholders, customers and employees will continue to benefit from as we further leverage our unique technology and extend our leadership position as solar power becomes an increasingly critical resource for growing economies worldwide.”
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets String Ribbon® solar power products using its proprietary, low-cost silicon wafer technology. The Company's patented wafer manufacturing technology uses significantly less polysilicon than conventional processes. Evergreen Solar's products provide reliable and environmentally clean electric power for residential and commercial applications globally. For more information about the Company, please visit www.evergreensolar.com. Evergreen Solar® and String Ribbon® are registered trademarks of Evergreen Solar, Inc.
Contacts
Evergreen Solar, Inc.
Chris Lawson, 508-251-3214
Director Marketing Communications
clawson@evergreensolar.com
or
Evergreen Solar, Inc.
Michael McCarthy, 508-251-3261
Director Investor Relations and Governmental Affairs
mmccarthy@evergreensolar.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 directory with over 1200 green stocks including solar stocks : learn more -http://www.investorideas.com/membership
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
MARLBORO, Mass.--(http://www.investorideas.com/ clean energy stocks blog )--Evergreen Solar, Inc. (NasdaqGM: ESLR), a manufacturer of String Ribbon® solar power products with its proprietary, low-cost silicon wafer technology, today announced that it has appointed Michael El-Hillow to the position of President and Chief Executive Officer effective immediately, replacing Richard M. Feldt who has accepted the position of Chief Executive Officer with a privately-held company. Mr. El-Hillow was also re-elected a director of the Company at a September 22, 2010 meeting of the Board.
“He has left a great platform that our stakeholders, customers and employees will continue to benefit from as we further leverage our unique technology and extend our leadership position as solar power becomes an increasingly critical resource for growing economies worldwide.”
.Mr. El-Hillow previously served as Chairman of the Board for Evergreen from October 2005 to January 2007 when he was recruited to the Company as the Chief Financial Officer. In September 2009, he also assumed the responsibilities of Chief Operations Officer. Mr. El-Hillow will continue to oversee operations in his new role. The Company will immediately begin a search for a Chief Financial Officer. Paul Kawa, Corporate Controller, will serve as interim Chief Financial Officer.
Edward C. Grady will succeed Mr. Feldt as the Chairman of the Evergreen Solar Board of Directors. Mr. Grady has been a director since 2005 and has most recently served the Board as its lead independent director. In commenting on Mr. El-Hillow’s appointment he stated, “In his roles as both corporate executive and board member Mike has played an instrumental role in both our evolution and growth. His leadership has been a catalyst in Evergreen’s expansion from a small regional technology company into a global manufacturing and customer service organization with facilities and offices in the United States, Europe and Asia. In addition to his financial role, Mike assumed significant operational responsibilities over the last year. His direct leadership is driving our Devens facility to exceed all of its operating goals as well as enabling Evergreen to move decisively with its expansion in China.”
Mr. Grady added, “Mike’s intimate involvement in all facets of Evergreen’s strategy and operations position him as the ideal executive for elevating the Company’s operational and commercialization success. The Board is extremely pleased to have someone of Mike’s caliber and demonstrated talent leading this Company.”
“It has been a pleasure working with Rick as he guided Evergreen Solar over the last seven years and he will be missed,” said Mr. El-Hillow. “He has left a great platform that our stakeholders, customers and employees will continue to benefit from as we further leverage our unique technology and extend our leadership position as solar power becomes an increasingly critical resource for growing economies worldwide.”
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets String Ribbon® solar power products using its proprietary, low-cost silicon wafer technology. The Company's patented wafer manufacturing technology uses significantly less polysilicon than conventional processes. Evergreen Solar's products provide reliable and environmentally clean electric power for residential and commercial applications globally. For more information about the Company, please visit www.evergreensolar.com. Evergreen Solar® and String Ribbon® are registered trademarks of Evergreen Solar, Inc.
Contacts
Evergreen Solar, Inc.
Chris Lawson, 508-251-3214
Director Marketing Communications
clawson@evergreensolar.com
or
Evergreen Solar, Inc.
Michael McCarthy, 508-251-3261
Director Investor Relations and Governmental Affairs
mmccarthy@evergreensolar.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 directory with over 1200 green stocks including solar stocks : learn more -http://www.investorideas.com/membership
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Solar Stocks ; Sustainable Energy (TSX VENTURE:STG) Appoints Solar Industry Veteran to Sales & Marketing Post
Solar Stocks ; Sustainable Energy (TSX VENTURE:STG) Appoints Solar Industry Veteran to Sales & Marketing Post
TORONTO, ONTARIO--(http://www.investorideas.com/ clean energy stocks ) - Sept. 23, 2010) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") has appointed Axel Hartung as Chief Sales & Marketing Officer effective immediately. In this role Axel will be responsible for leading Sustainable Energy's sales strategies in North America and Europe.
Axel is a seasoned marketing and sales professional with more than 7 years experience in the solar industry first with German industry giant Diehl AKO where he was Manager of Business Development and latterly with Sustainable Energy, where he was responsible for European sales and marketing.
Commenting on his appointment Michael Carten CEO said: "Axel is the perfect fit to lead our sales and marketing effort. I know of no other person who has his experience with the evolution of the solar inverter industry and the changing dynamics of the competitive landscape. At Diehl, Axel was responsible for developing the successful marketing strategy for that company's "Platinum" line of solar inverters and has successfully rolled out our PARALEX business model in Europe. Axel's experience in Europe will be an enormous advantage to us in North America and Ontario."
Axel will continue to be based in Germany, which still represents the world's largest solar PV market, and will divide his time between North American and Europe.
"This is an exciting time for the Company and I am very pleased to be able to take on this role," said Axel. Power inverters are now driving change as the industry realizes that more gains in cost and efficiency can be achieved from better system design than from individual component efficiencies. The parallel system architecture may be the single most disruptive factor in the industry today improving system yields, reducing the cost of ownership and changing distribution patterns.
"Sustainable is the only company which can deliver this value in higher power ratings and at a cost that is competitive with conventional inverters."
Since introducing the SUNERGYTM product line in May, 2010, Sustainable Energy has quickly gained momentum in the Ontario market for the design flexibility, safety, and high yield advantages which can only be achieved with the SUNERGYTM inverter. Since May 2010, the Company has built a pipeline for Ontario and the US to the end of June 2011 of approximately 22.5 MW; and it is adding to that weekly. The pipeline represents a judgment by management based on forecasts from qualified accounts weighted to reflect the probability of sales within the time frame and is used by the Company to plan production.
SUNERGYTM product sales revenues for this period will depend on the product mix, which includes SUNERGYTM inverters components of the DC side balance of system ("BOS") - communications cards and combiners - which can increase the value of each unit sale by up to 20% – 30%. The Company also sells monitoring systems for each inverter which can range up to $800 per unit. Total revenues for this period will also be dependent on the percentage of unit sales that is for PARALEXTM systems – which include all solar panels along with the inverter and DC side BOS peripherals – in both thin film and crystalline configurations.
Whereas the Company believes product pricing for the SUNERGYTM inverter together with DC side BOS peripherals will average in the $420,000 – $600,000 per MW range depending on volumes and product mix, PARALEXTM pricing in Ontario will likely range from $2.5 - $3 million per MW. The Ontario market is still immature, and the Company is unable to provide any guidance on product mix or on the division between SUNERGYTM package sales and PARALEXTM sales.
Within Europe, the Company has established two private label relationships: Salicru S.A which exclusive for Spain and Portugal; and ChangeTec GmbH which is non-exclusive for Germany. It has also begun successfully marketing higher value PARALEXTM solutions (modules panels, inverters and DC balance of systems) directly to systems aggregators and project developers for rooftop and smaller ground based projects. In Europe PARALEX revenues per unit sale vary much more widely since the Company often provides racking in addition to DC side BOS modules and inverters.
About Sustainable Energy: Sustainable Energy www.sustainableenergy.com designs, manufactures and distributes power inverters for grid-connected solar PV systems. Advanced power inverters are a critical enabler of all modern solar PV power systems converting the direct current ("DC") power output of the solar PV modules into the high quality alternating current ("AC") power required by the power grid. Advanced power inverters also optimize the performance of the solar PV modules and maintain the integrity and safety of the interconnection with the power grid.
The extra low operating voltage (50v – 100v) of the SUNERGY ELV platform enables a system architecture that is inherently safe and that can be installed and maintained by most building trades without the need for PV specialists, significantly reducing the installed system cost and increasing investor yields. The SUNERGY inverter is rated for operating conditions ranging from minus 40 degrees Celsius to plus 50 degrees Celsius.
Sustainable Energy's technologies are the subject of multiple patents issued by and pending with the US Patent and Canadian Patent Offices.
Forward Looking Information
The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, it includes: statements concerning the impact of our technology on solar PV system performance; statements and statements concerning the size and direction of solar PV markets; and statements concerning our sales pipeline with is a subjective judgment by management based on forecasts from "qualified" accounts weighted to reflect the probability of closing sales within the time frame and is used by the Company to plan production.
While management believes these statements to be accurate they are dependent on a wide range of factors beyond management's control and should not be viewed as a guarantee of the specific outcome. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties.
Many factors could cause the Companies' actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Companies do not undertake any obligation to release publicly any revisions to forward- looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
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 release.
For more information, please contact
Sustainable Energy Technologies Ltd.
Michael Carten
Chief Executive Officer
(403) 508-7177 #111
http://www.sustainableenergy.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 including over 1200 green stocks and solar stocks : http://www.investorideas.com/membership/
disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company
TORONTO, ONTARIO--(http://www.investorideas.com/ clean energy stocks ) - Sept. 23, 2010) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") has appointed Axel Hartung as Chief Sales & Marketing Officer effective immediately. In this role Axel will be responsible for leading Sustainable Energy's sales strategies in North America and Europe.
Axel is a seasoned marketing and sales professional with more than 7 years experience in the solar industry first with German industry giant Diehl AKO where he was Manager of Business Development and latterly with Sustainable Energy, where he was responsible for European sales and marketing.
Commenting on his appointment Michael Carten CEO said: "Axel is the perfect fit to lead our sales and marketing effort. I know of no other person who has his experience with the evolution of the solar inverter industry and the changing dynamics of the competitive landscape. At Diehl, Axel was responsible for developing the successful marketing strategy for that company's "Platinum" line of solar inverters and has successfully rolled out our PARALEX business model in Europe. Axel's experience in Europe will be an enormous advantage to us in North America and Ontario."
Axel will continue to be based in Germany, which still represents the world's largest solar PV market, and will divide his time between North American and Europe.
"This is an exciting time for the Company and I am very pleased to be able to take on this role," said Axel. Power inverters are now driving change as the industry realizes that more gains in cost and efficiency can be achieved from better system design than from individual component efficiencies. The parallel system architecture may be the single most disruptive factor in the industry today improving system yields, reducing the cost of ownership and changing distribution patterns.
"Sustainable is the only company which can deliver this value in higher power ratings and at a cost that is competitive with conventional inverters."
Since introducing the SUNERGYTM product line in May, 2010, Sustainable Energy has quickly gained momentum in the Ontario market for the design flexibility, safety, and high yield advantages which can only be achieved with the SUNERGYTM inverter. Since May 2010, the Company has built a pipeline for Ontario and the US to the end of June 2011 of approximately 22.5 MW; and it is adding to that weekly. The pipeline represents a judgment by management based on forecasts from qualified accounts weighted to reflect the probability of sales within the time frame and is used by the Company to plan production.
SUNERGYTM product sales revenues for this period will depend on the product mix, which includes SUNERGYTM inverters components of the DC side balance of system ("BOS") - communications cards and combiners - which can increase the value of each unit sale by up to 20% – 30%. The Company also sells monitoring systems for each inverter which can range up to $800 per unit. Total revenues for this period will also be dependent on the percentage of unit sales that is for PARALEXTM systems – which include all solar panels along with the inverter and DC side BOS peripherals – in both thin film and crystalline configurations.
Whereas the Company believes product pricing for the SUNERGYTM inverter together with DC side BOS peripherals will average in the $420,000 – $600,000 per MW range depending on volumes and product mix, PARALEXTM pricing in Ontario will likely range from $2.5 - $3 million per MW. The Ontario market is still immature, and the Company is unable to provide any guidance on product mix or on the division between SUNERGYTM package sales and PARALEXTM sales.
Within Europe, the Company has established two private label relationships: Salicru S.A which exclusive for Spain and Portugal; and ChangeTec GmbH which is non-exclusive for Germany. It has also begun successfully marketing higher value PARALEXTM solutions (modules panels, inverters and DC balance of systems) directly to systems aggregators and project developers for rooftop and smaller ground based projects. In Europe PARALEX revenues per unit sale vary much more widely since the Company often provides racking in addition to DC side BOS modules and inverters.
About Sustainable Energy: Sustainable Energy www.sustainableenergy.com designs, manufactures and distributes power inverters for grid-connected solar PV systems. Advanced power inverters are a critical enabler of all modern solar PV power systems converting the direct current ("DC") power output of the solar PV modules into the high quality alternating current ("AC") power required by the power grid. Advanced power inverters also optimize the performance of the solar PV modules and maintain the integrity and safety of the interconnection with the power grid.
The extra low operating voltage (50v – 100v) of the SUNERGY ELV platform enables a system architecture that is inherently safe and that can be installed and maintained by most building trades without the need for PV specialists, significantly reducing the installed system cost and increasing investor yields. The SUNERGY inverter is rated for operating conditions ranging from minus 40 degrees Celsius to plus 50 degrees Celsius.
Sustainable Energy's technologies are the subject of multiple patents issued by and pending with the US Patent and Canadian Patent Offices.
Forward Looking Information
The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, it includes: statements concerning the impact of our technology on solar PV system performance; statements and statements concerning the size and direction of solar PV markets; and statements concerning our sales pipeline with is a subjective judgment by management based on forecasts from "qualified" accounts weighted to reflect the probability of closing sales within the time frame and is used by the Company to plan production.
While management believes these statements to be accurate they are dependent on a wide range of factors beyond management's control and should not be viewed as a guarantee of the specific outcome. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties.
Many factors could cause the Companies' actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Companies do not undertake any obligation to release publicly any revisions to forward- looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
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 release.
For more information, please contact
Sustainable Energy Technologies Ltd.
Michael Carten
Chief Executive Officer
(403) 508-7177 #111
http://www.sustainableenergy.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 including over 1200 green stocks and solar 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 News; New Generation Biofuels (NasdaqCM: NGBF) Announces Capital Raise of $0.5 Million in Registered Direct Offering.
Renewable Energy Stocks News; New Generation Biofuels (NasdaqCM: NGBF) Announces Capital Raise of $0.5 Million in Registered Direct Offering.
COLUMBIA, Md., Sept. 23 ( http://www.investorideas.com/ clean energy stocks blog) -- Renewable fuels provider New Generation Biofuels Holdings, Inc. (NasdaqCM: NGBF) ("NGBF" or the "Company") announced today that it has entered into a definitive agreement with several institutional investors for a registered direct offering of 3,557,692 shares of previously unissued common stock at a price of $0.13 per share with total gross proceeds of $462,500. In addition to the issuance of common shares, New Generation will issue to the investors warrants exercisable for three common shares for every four common shares purchased with an exercise price of $0.15 per share. The warrants will expire 5 years from the closing date. The common shares sold, the warrants and the shares underlying the warrants are to be issued under New Generation's Form S-3 shelf registration statement that was previously declared effective by the Securities and Exchange Commission on January 27, 2009. The terms of the offering also provide that for the next 30 trading days, the investors will have the right to purchase additional shares of common stock off the noted Form S-3 shelf registration statement at market prices as additional room becomes available as our non-affiliate share float increases.
Palladium Capital Advisors LLC, acted as the Placement Agent for this transaction.
New Generation expects to use the net proceeds for general working capital purposes and fund additional debt settlements. The offering is expected to close on September 23, 2010, subject to satisfaction of customary closing conditions.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the prospectus supplement together with the accompanying prospectus can be obtained at the Securities and Exchange Commission's website at http://www.sec.gov.
About New Generation Biofuels, Holdings, Inc.
New Generation Biofuels is a developer and provider of renewable fuels. New Generation Biofuels holds an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from plant oils and animal fats that it markets as a new class of biofuel for power generation, commercial and industrial heating and marine use. The Company believes that its proprietary biofuel can provide a lower cost, renewable alternative energy source with significantly lower emissions than traditional fuels. New Generation Biofuels' business model calls for establishing direct sales from manufacturing plants that it may purchase or build and sublicensing its technology to qualified licensees.
Forward Looking Statements
This news release contains forward-looking statements. These forward-looking statements concern the Company's operations, prospects, plans, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements. The risks and uncertainties related to our business, which include all the risks attendant an emerging growth company in the volatile energy industry, including those set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2009, and in subsequent filings with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why the actual results could differ from those projected in the forward-looking statements.
Media Contact: Bryan McPhee ph: (410) 652-1159
IR Contact: Rob Schatz ph: (212) 370-4500
Or bkmcphee@newgenerationbiofuels.comRob@wolfeaxelrod.com
News and Stories Published at the Clean Energy Stocks Blog for Green Investors:
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COLUMBIA, Md., Sept. 23 ( http://www.investorideas.com/ clean energy stocks blog) -- Renewable fuels provider New Generation Biofuels Holdings, Inc. (NasdaqCM: NGBF) ("NGBF" or the "Company") announced today that it has entered into a definitive agreement with several institutional investors for a registered direct offering of 3,557,692 shares of previously unissued common stock at a price of $0.13 per share with total gross proceeds of $462,500. In addition to the issuance of common shares, New Generation will issue to the investors warrants exercisable for three common shares for every four common shares purchased with an exercise price of $0.15 per share. The warrants will expire 5 years from the closing date. The common shares sold, the warrants and the shares underlying the warrants are to be issued under New Generation's Form S-3 shelf registration statement that was previously declared effective by the Securities and Exchange Commission on January 27, 2009. The terms of the offering also provide that for the next 30 trading days, the investors will have the right to purchase additional shares of common stock off the noted Form S-3 shelf registration statement at market prices as additional room becomes available as our non-affiliate share float increases.
Palladium Capital Advisors LLC, acted as the Placement Agent for this transaction.
New Generation expects to use the net proceeds for general working capital purposes and fund additional debt settlements. The offering is expected to close on September 23, 2010, subject to satisfaction of customary closing conditions.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the prospectus supplement together with the accompanying prospectus can be obtained at the Securities and Exchange Commission's website at http://www.sec.gov.
About New Generation Biofuels, Holdings, Inc.
New Generation Biofuels is a developer and provider of renewable fuels. New Generation Biofuels holds an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from plant oils and animal fats that it markets as a new class of biofuel for power generation, commercial and industrial heating and marine use. The Company believes that its proprietary biofuel can provide a lower cost, renewable alternative energy source with significantly lower emissions than traditional fuels. New Generation Biofuels' business model calls for establishing direct sales from manufacturing plants that it may purchase or build and sublicensing its technology to qualified licensees.
Forward Looking Statements
This news release contains forward-looking statements. These forward-looking statements concern the Company's operations, prospects, plans, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements. The risks and uncertainties related to our business, which include all the risks attendant an emerging growth company in the volatile energy industry, including those set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2009, and in subsequent filings with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why the actual results could differ from those projected in the forward-looking statements.
Media Contact: Bryan McPhee ph: (410) 652-1159
IR Contact: Rob Schatz ph: (212) 370-4500
Or bkmcphee@newgenerationbiofuels.comRob@wolfeaxelrod.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 of over 1200 green stocks including biofuel stocks : http://www.investorideas.com/membership/
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
Wind Stocks; GE’s (NYSE: GE) Wind Turbines Cutting Diesel Generation, Energy Costs for Alaska’s Kodiak Island
Wind Stocks; GE’s Wind Turbines Cutting Diesel Generation, Energy Costs for Alaska’s Kodiak Island
A Year of Successful Operation Translates Into Nearly a Million Fewer Gallons of Diesel Fuel Used
SCHENECTADY, N.Y.--(http://www.investorideas.com/ clean energy stocks blog )--Wind turbines supplied by GE (NYSE: GE) are helping the city of Kodiak, on Kodiak Island off the southern coast of Alaska, reduce its use of diesel fuel and lower its energy costs while supporting the local utility’s vision to generate most of its power from renewable sources. The three GE 1.5-megawatt (MW) wind turbines were installed in 2009 by the Kodiak Electric Association (KEA), Kodiak Island’s electric utility, as a part of the Pillar Mountain Wind Project.
“The project is helping the community grow and hopefully will pave the way for future applications of our wind turbine technology in Alaska.”
.After a year of successful operation, GE’s wind turbines have enabled KEA to avoid the use of 930,000 gallons of diesel fuel. The three GE wind turbines for the Pillar Mountain project have a total capacity of 4.5 MW, which equals approximately 25 percent of KEA’s peak load demands. In addition, the wind turbines have supplied roughly 9 percent of annual system generation for the island in the year that they have been operating. Prior to the installation of the wind turbines, KEA relied on diesel generation to provide much of the island’s peaking power.
“The use of wind turbines is saving our customers money and reducing emissions by directly displacing much of our diesel generation,” said Darron Scott, president & CEO of KEA. “The Pillar Mountain Wind Project is a significant step toward our target to generate 95 percent of our power from renewable resources by 2020.”
“We were very pleased to work on this project, understanding how important it was to the residents of Kodiak Island to have their power generated from cleaner, renewable sources,” said Victor Abate, vice president-renewable energy for GE Power & Water. “The project is helping the community grow and hopefully will pave the way for future applications of our wind turbine technology in Alaska.”
Most of Kodiak Island is wilderness with only the eastern part of the island occupied by about 15,000 residents. The power grid is isolated with no external connections to other power sources. Prior to the installation of the wind turbines, all of the island’s power was provided by a two-unit hydroelectric plant and seven diesel generators.
GE wind turbines feature advanced controls and electronics, enabling these machines to meet grid codes and stay online supporting the grid even during severe disturbances. These grid-friendly features facilitated the application of such a high percentage of wind generation on KEA’s small, isolated grid. Because of the large percentage of wind generation on the KEA grid, studies are underway to examine high levels of wind penetration on smaller grids.
In addition to the supply of the wind turbines—the first megawatt-class machines to be installed in Alaska—GE also signed a two-year service agreement with KEA. Under this agreement, GE will perform routine maintenance of the wind turbines for two years while training KEA crews in maintenance practices.
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
Milissa Rocker, +1 518-385-2381
milissa.rocker@ge.com
or
Masto Public Relations
Ken Darling or Howard Masto, +1 518-786-6488
kenneth.darling@ge.com
howard.masto@ge.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 with over 1200 green stocks including wind stocks : http://www.investorideas.com/membership/
.
Disclaimer: this is not a solicitation to buy or sell stocks, or an endorsement for any company.
A Year of Successful Operation Translates Into Nearly a Million Fewer Gallons of Diesel Fuel Used
SCHENECTADY, N.Y.--(http://www.investorideas.com/ clean energy stocks blog )--Wind turbines supplied by GE (NYSE: GE) are helping the city of Kodiak, on Kodiak Island off the southern coast of Alaska, reduce its use of diesel fuel and lower its energy costs while supporting the local utility’s vision to generate most of its power from renewable sources. The three GE 1.5-megawatt (MW) wind turbines were installed in 2009 by the Kodiak Electric Association (KEA), Kodiak Island’s electric utility, as a part of the Pillar Mountain Wind Project.
“The project is helping the community grow and hopefully will pave the way for future applications of our wind turbine technology in Alaska.”
.After a year of successful operation, GE’s wind turbines have enabled KEA to avoid the use of 930,000 gallons of diesel fuel. The three GE wind turbines for the Pillar Mountain project have a total capacity of 4.5 MW, which equals approximately 25 percent of KEA’s peak load demands. In addition, the wind turbines have supplied roughly 9 percent of annual system generation for the island in the year that they have been operating. Prior to the installation of the wind turbines, KEA relied on diesel generation to provide much of the island’s peaking power.
“The use of wind turbines is saving our customers money and reducing emissions by directly displacing much of our diesel generation,” said Darron Scott, president & CEO of KEA. “The Pillar Mountain Wind Project is a significant step toward our target to generate 95 percent of our power from renewable resources by 2020.”
“We were very pleased to work on this project, understanding how important it was to the residents of Kodiak Island to have their power generated from cleaner, renewable sources,” said Victor Abate, vice president-renewable energy for GE Power & Water. “The project is helping the community grow and hopefully will pave the way for future applications of our wind turbine technology in Alaska.”
Most of Kodiak Island is wilderness with only the eastern part of the island occupied by about 15,000 residents. The power grid is isolated with no external connections to other power sources. Prior to the installation of the wind turbines, all of the island’s power was provided by a two-unit hydroelectric plant and seven diesel generators.
GE wind turbines feature advanced controls and electronics, enabling these machines to meet grid codes and stay online supporting the grid even during severe disturbances. These grid-friendly features facilitated the application of such a high percentage of wind generation on KEA’s small, isolated grid. Because of the large percentage of wind generation on the KEA grid, studies are underway to examine high levels of wind penetration on smaller grids.
In addition to the supply of the wind turbines—the first megawatt-class machines to be installed in Alaska—GE also signed a two-year service agreement with KEA. Under this agreement, GE will perform routine maintenance of the wind turbines for two years while training KEA crews in maintenance practices.
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
Milissa Rocker, +1 518-385-2381
milissa.rocker@ge.com
or
Masto Public Relations
Ken Darling or Howard Masto, +1 518-786-6488
kenneth.darling@ge.com
howard.masto@ge.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 with over 1200 green stocks including wind 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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