Driving Green; Electric Car News; EVCARCO (OTCBB: EVCA). Tesla Motors (Nasdaq: TSLA), GE (NYSE: GE)
July 23, 2010 Driving Green at Investorideas.com reports on recent news and developments for green and electric car stocks for interested investors.
Read and Hear Driving Green Podcast and industry commentary, part of the green investor content at Investorieas.com and Renewableenergystocks.com:
Driving Green Podcasts and Commentary at Investorideas.com
Recent Electric and Green Car news and developments:
Electric Car News; Tesla Motors (Nasdaq: TSLA) and Toyota Motor Corporation Formalize Agreement to Develop Electric Version of RAV4
Full News: http://www.investorideas.com/news/renewable-energy/7161.asp
Green Car News; EVCARCO (OTCBB: EVCA) Expands Global Operations With the Opening of Latin American Alternative Vehicle Advisory to South American Countries
Full News: http://www.investorideas.com/CO/EVCA/news/7151.asp
GE (NYSE: GE)
“As part of GE’s ecomagination initiative and Smart Grid research efforts, electric transportation is already a key focus area. For example, GE has invested more than $150 million to develop advanced battery technologies that will provide energy storage for several future product applications, including GE’s ecomagination certified hybrid locomotive, tugboats, mining trucks, and heavy service vehicles. GE has also recently increased its investment in battery maker A123 Systems, which is which is a leader in the lithium-ion battery technology used in hybrid cars.
Source - http://www.gereports.com/ge-teams-with-nissan-on-electric-car-smart-charging
Green Car Stocks Snapshot:
EVCARCO (OTC.BB: EVCA) is the first automotive retail group dedicated to deploying a coast-to-coast network of eco-friendly dealerships and vehicles. EVCARCO is bringing to market the most advanced clean technologies available in plug-in electric, hydrogen fuel injection, and alternative fuel vehicles. EVCARCO has developed a dealer network allowing growth into most US States by 2012.
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 Web site at www.ge.com.
Tesla Motors, Inc. (Nasdaq: TSLA) designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components. In addition to designing and manufacturing vehicles, Tesla sells and services them through its own sales and service network. Tesla has delivered over 1,000 Tesla Roadsters to customers in 22 countries. Tesla is headquartered in Palo Alto, California.
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Showing posts with label GE (NYSE: GE). Show all posts
Showing posts with label GE (NYSE: GE). Show all posts
Friday, July 23, 2010
Tuesday, October 27, 2009
GE Announces Latest Advancements to Leading Gas Turbine
GE Announces Latest Advancements to Leading Gas Turbine
New Advanced Gas Turbine delivers higher performance, more flexibility and fewer emissions, with estimated fuel savings of $2 million per year
GREENVILLE, S.C- Using next generation gas turbine technology to increase output and efficiency, GE Energy today introduced its upgraded Frame 7FA gas turbine to meet growing performance requirements for power plant operators. The upgraded turbine is designed to help power plant operators reduce their total cost of ownership and environmental impact by allowing them to use less fuel to generate power.
The continuing evolution of GE’s gas turbine technology supports a growing industry trend toward the use of natural gas. A recent report by the Colorado School of Mines indicated that following recent discoveries, the United States now has 1,800 trillion cubic feet of natural gas, the equivalent of 320 billion barrels of oil—more than Saudi Arabia’s 264 billion barrels. That available supply, coupled with the current low cost and the fact that natural gas emits less carbon than other fossil fuels, has spurred many power generators to consider switching from other fuels to gas.
A typical power plant operating two new 7FA gas turbines with a single steam turbine in combined cycle configuration would achieve a fuel cost savings of more than $2.1 million per year at a natural gas price of $6 per MMBtu when compared to a similar plant with an earlier version of the 7FA for equivalent net plant output. This updated plant would also avoid the emission of more than 19,000 metric tons of CO2 per year compared to the earlier version, an improvement equivalent to the CO2 emissions of approximately 3,800 cars on U.S. roads.
“Investing in the needs of tomorrow with R&D and technology is at the foundation of GE and helps us to maintain a competitive advantage in the power generation arena,” said Steve Bolze, president of GE Energy’s Power & Water business. “Today’s announcement demonstrates our ongoing commitment to GE’s leadership in advanced gas turbine technology that helps deliver power more efficiently and flexibly to our customers without compromising their high standards for operational excellence.”
“Since its introduction, our F technology has consistently set industry standards for reliability and efficiency,” said Rick Stanley, vice president of engineering for GE Energy. “The 7FA upgrade underscores our commitment to continue refining the technology to meet the evolving needs of today’s customers.”
“GE is focused on delivering products and services that help our customers save significant operating costs while simultaneously slashing emissions and fuel consumption. We have amassed technological advances from across our expansive portfolio of power generating and aviation turbines and delivered them in this upgraded 7FA turbine,” said John Reinker, general manager of gas turbine and combined cycle products for GE Energy. “Of the 1,000 plus GE F-technology gas turbines shipped worldwide, more than 70% are 7FA units—and the advances now available for the 7FA will ensure that it continues to be the industry's workhorse advanced technology turbine.”
Many companies have already evaluated the new gas turbine technology. Some of the first new 7FA turbines are planned for the proposed Oakley Generating Station in Oakley, Calif. The plant, which is projected to generate 586 megawatts of power, is being developed by Radback Energy, Inc., and is expected to be transferred to Pacific Gas and Electric Company (PG&E) after it enters commercial operation.
The new turbine is a part of GE’s ecomagination portfolio, due to the increase in net plant efficiency and higher output delivered by this machine compared to all earlier 7FA models, which should result in less fuel consumption and lower emissions on a megawatt per hour basis than delivered by previous 7FA models.
Key regions for the upgraded, 60-hertz 7FA will include North America, Latin America, Saudi Arabia, Japan, Taiwan and South Korea. The upgraded 7FA will begin shipping in early 2012 and will be manufactured at GE Energy’s gas turbine facility in Greenville, S.C.
GE ecomagination certification
The ecomagination Product Review (EPR) process provides a third-party verification of claims, quantifying operating and environmental performance benefits that accrue to GE’s customers by using ecomagination products relative to baselines such as competitors' best products, the installed base of products and regulatory standards. These ecomagination claims can be found in GE's printed materials and advertisements and on the Web at www.ge.com/ecomagination. Ecomagination products are re-certified regularly to help ensure that claims remain accurate.
For more information, visit www.GE-7FA.com.
About GE Energy
GE Energy (www.ge.com/energy) is one of the world’s leading suppliers of power generation and energy delivery technologies, with 2008 revenue of $29.3 billion. Based in Atlanta, Georgia, GE Energy works 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. Numerous GE Energy products are certified under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
About GE
GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com. GE is Imagination at Work.
Green Energy investors can research stocks with the Renewable Energy Stocks Directory, one of the most comprehensive directories online. The directory has close to 900 stocks and new stocks are added each month for investors following the sector. The complete renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Directory:
New Advanced Gas Turbine delivers higher performance, more flexibility and fewer emissions, with estimated fuel savings of $2 million per year
GREENVILLE, S.C- Using next generation gas turbine technology to increase output and efficiency, GE Energy today introduced its upgraded Frame 7FA gas turbine to meet growing performance requirements for power plant operators. The upgraded turbine is designed to help power plant operators reduce their total cost of ownership and environmental impact by allowing them to use less fuel to generate power.
The continuing evolution of GE’s gas turbine technology supports a growing industry trend toward the use of natural gas. A recent report by the Colorado School of Mines indicated that following recent discoveries, the United States now has 1,800 trillion cubic feet of natural gas, the equivalent of 320 billion barrels of oil—more than Saudi Arabia’s 264 billion barrels. That available supply, coupled with the current low cost and the fact that natural gas emits less carbon than other fossil fuels, has spurred many power generators to consider switching from other fuels to gas.
A typical power plant operating two new 7FA gas turbines with a single steam turbine in combined cycle configuration would achieve a fuel cost savings of more than $2.1 million per year at a natural gas price of $6 per MMBtu when compared to a similar plant with an earlier version of the 7FA for equivalent net plant output. This updated plant would also avoid the emission of more than 19,000 metric tons of CO2 per year compared to the earlier version, an improvement equivalent to the CO2 emissions of approximately 3,800 cars on U.S. roads.
“Investing in the needs of tomorrow with R&D and technology is at the foundation of GE and helps us to maintain a competitive advantage in the power generation arena,” said Steve Bolze, president of GE Energy’s Power & Water business. “Today’s announcement demonstrates our ongoing commitment to GE’s leadership in advanced gas turbine technology that helps deliver power more efficiently and flexibly to our customers without compromising their high standards for operational excellence.”
“Since its introduction, our F technology has consistently set industry standards for reliability and efficiency,” said Rick Stanley, vice president of engineering for GE Energy. “The 7FA upgrade underscores our commitment to continue refining the technology to meet the evolving needs of today’s customers.”
“GE is focused on delivering products and services that help our customers save significant operating costs while simultaneously slashing emissions and fuel consumption. We have amassed technological advances from across our expansive portfolio of power generating and aviation turbines and delivered them in this upgraded 7FA turbine,” said John Reinker, general manager of gas turbine and combined cycle products for GE Energy. “Of the 1,000 plus GE F-technology gas turbines shipped worldwide, more than 70% are 7FA units—and the advances now available for the 7FA will ensure that it continues to be the industry's workhorse advanced technology turbine.”
Many companies have already evaluated the new gas turbine technology. Some of the first new 7FA turbines are planned for the proposed Oakley Generating Station in Oakley, Calif. The plant, which is projected to generate 586 megawatts of power, is being developed by Radback Energy, Inc., and is expected to be transferred to Pacific Gas and Electric Company (PG&E) after it enters commercial operation.
The new turbine is a part of GE’s ecomagination portfolio, due to the increase in net plant efficiency and higher output delivered by this machine compared to all earlier 7FA models, which should result in less fuel consumption and lower emissions on a megawatt per hour basis than delivered by previous 7FA models.
Key regions for the upgraded, 60-hertz 7FA will include North America, Latin America, Saudi Arabia, Japan, Taiwan and South Korea. The upgraded 7FA will begin shipping in early 2012 and will be manufactured at GE Energy’s gas turbine facility in Greenville, S.C.
GE ecomagination certification
The ecomagination Product Review (EPR) process provides a third-party verification of claims, quantifying operating and environmental performance benefits that accrue to GE’s customers by using ecomagination products relative to baselines such as competitors' best products, the installed base of products and regulatory standards. These ecomagination claims can be found in GE's printed materials and advertisements and on the Web at www.ge.com/ecomagination. Ecomagination products are re-certified regularly to help ensure that claims remain accurate.
For more information, visit www.GE-7FA.com.
About GE Energy
GE Energy (www.ge.com/energy) is one of the world’s leading suppliers of power generation and energy delivery technologies, with 2008 revenue of $29.3 billion. Based in Atlanta, Georgia, GE Energy works 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. Numerous GE Energy products are certified under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
About GE
GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com. GE is Imagination at Work.
Green Energy investors can research stocks with the Renewable Energy Stocks Directory, one of the most comprehensive directories online. The directory has close to 900 stocks and new stocks are added each month for investors following the sector. The complete renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Directory:
Tuesday, May 05, 2009
GE Energy Joins Forces with WSI, a Member of the Weather Channel Companies, to Launch Forecasting Technology for Wind Farms
GE Energy Joins Forces with WSI, a Member of the Weather Channel Companies, to Launch Forecasting Technology for Wind Farms
Windpower 2009 -Booth 4148
CHICAGO--GE Energy and WSI Corporation, the global leader in weather information and a member of The Weather Channel Companies, are joining forces to launch more accurate forecasting tools for wind farm owner/operators and transmission/distribution providers.
GE Energy, the leading U.S. supplier of wind turbines, and WSI announced today at Windpower 2009 that they have formed an alliance. “This relationship brings together two technology platforms to further the science of wind forecasting and its use in wind farm operations,” said Victor Abate, vice president, renewables for GE Energy.
WSI Corporation is the world’s leading provider of weather-driven business solutions across industries that span media, aviation, energy trading, utilities and insurance. In its alliance with GE Energy, WSI will build upon its existing wind power and wind speed forecast capabilities to develop technology that provides more accurate forecasts for the wind power industry. The improved accuracy can assist in optimization of turbine performance, power production planning and wind energy transmission integration.
As part of the alliance, WSI and GE Energy will develop technology to collect real-time turbine and wind data, incorporate this data into proprietary forecast models, and provide customized forecast and operational guidance services. “The integration of timely, accurate weather forecasts with turbine operations can provide tools to help operators improve the efficiency of their wind farms,” explained Abate.
“This is an important time to be involved with wind energy and in helping to shape the future of our nation’s renewable energy agenda,” said Ira Scharf, general manager of WSI’s energy and risk division. “This alliance builds on our proven strength in wind forecasting and is a natural extension of our capabilities from traditional energy production and trading to cutting-edge renewable sources. We are excited to be teamed with GE Energy, the global leader in wind turbine and wind energy systems. Our combined efforts will lead to the creation of new and innovative solutions for forecasting and optimization of wind power generation and transmission.”
The alliance with WSI supports GE Energy’s ongoing commitment to help move the wind industry forward. “Wind power has become a mainstream energy option and will play an increasingly important role in helping the United States attain energy independence, while also meeting our environmental responsibilities,” said Abate.
Since entering the wind business in 2002, GE Energy has invested more than $850 million to improve wind turbine technology. Today, more than 12,000 GE-technology wind turbines are installed worldwide.
About WSI Corporation
WSI Corporation is the world’s leading provider of weather-driven business solutions for professionals in the energy, aviation, insurance and media markets, and multiple federal and state government agencies. WSI is a member of The Weather Channel Companies and is headquartered in Andover, Mass. with offices in Birmingham, England. The Weather Channel Companies are owned by a consortium made up of NBC Universal and private equity firms The Blackstone Group and Bain Capital. For more information, please visit us on the Web at www.wsi.com or call 877.WSI.Corp or +44 121 233 7600.
About GE Energy
GE Energy (www.ge.com/energy) is one of the world’s leading suppliers of power generation and energy delivery technologies, with 2008 revenue of $29.3 billion. Based in Atlanta, Georgia, GE Energy works 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. Numerous GE Energy products are certified under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
About GE
GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com. GE is Imagination at Work.
Contacts GE EnergyMilissa Rocker, +1 518-385-2381milissa.rocker@ge.comorMasto Public RelationsKen Darling or Howard Masto+1 518-786-6488kenneth.darling@ge.comhoward.masto@ge.comorWSI CorporationKristen Sullivan, +1 978-983-6607ksullivan@wsi.comorEditorial ContactBarbara Rudolph, +1 781-229-1811bjr@rudolphcommunications.com
Published at The Investorideas.com Renewable Energy and GreenTech Business and Stock News RSS Feed: Subscribe : http://www.investorideas.com/RSS/feeds/RES.xml
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Windpower 2009 -Booth 4148
CHICAGO--GE Energy and WSI Corporation, the global leader in weather information and a member of The Weather Channel Companies, are joining forces to launch more accurate forecasting tools for wind farm owner/operators and transmission/distribution providers.
GE Energy, the leading U.S. supplier of wind turbines, and WSI announced today at Windpower 2009 that they have formed an alliance. “This relationship brings together two technology platforms to further the science of wind forecasting and its use in wind farm operations,” said Victor Abate, vice president, renewables for GE Energy.
WSI Corporation is the world’s leading provider of weather-driven business solutions across industries that span media, aviation, energy trading, utilities and insurance. In its alliance with GE Energy, WSI will build upon its existing wind power and wind speed forecast capabilities to develop technology that provides more accurate forecasts for the wind power industry. The improved accuracy can assist in optimization of turbine performance, power production planning and wind energy transmission integration.
As part of the alliance, WSI and GE Energy will develop technology to collect real-time turbine and wind data, incorporate this data into proprietary forecast models, and provide customized forecast and operational guidance services. “The integration of timely, accurate weather forecasts with turbine operations can provide tools to help operators improve the efficiency of their wind farms,” explained Abate.
“This is an important time to be involved with wind energy and in helping to shape the future of our nation’s renewable energy agenda,” said Ira Scharf, general manager of WSI’s energy and risk division. “This alliance builds on our proven strength in wind forecasting and is a natural extension of our capabilities from traditional energy production and trading to cutting-edge renewable sources. We are excited to be teamed with GE Energy, the global leader in wind turbine and wind energy systems. Our combined efforts will lead to the creation of new and innovative solutions for forecasting and optimization of wind power generation and transmission.”
The alliance with WSI supports GE Energy’s ongoing commitment to help move the wind industry forward. “Wind power has become a mainstream energy option and will play an increasingly important role in helping the United States attain energy independence, while also meeting our environmental responsibilities,” said Abate.
Since entering the wind business in 2002, GE Energy has invested more than $850 million to improve wind turbine technology. Today, more than 12,000 GE-technology wind turbines are installed worldwide.
About WSI Corporation
WSI Corporation is the world’s leading provider of weather-driven business solutions for professionals in the energy, aviation, insurance and media markets, and multiple federal and state government agencies. WSI is a member of The Weather Channel Companies and is headquartered in Andover, Mass. with offices in Birmingham, England. The Weather Channel Companies are owned by a consortium made up of NBC Universal and private equity firms The Blackstone Group and Bain Capital. For more information, please visit us on the Web at www.wsi.com or call 877.WSI.Corp or +44 121 233 7600.
About GE Energy
GE Energy (www.ge.com/energy) is one of the world’s leading suppliers of power generation and energy delivery technologies, with 2008 revenue of $29.3 billion. Based in Atlanta, Georgia, GE Energy works 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. Numerous GE Energy products are certified under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
About GE
GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com. GE is Imagination at Work.
Contacts GE EnergyMilissa Rocker, +1 518-385-2381milissa.rocker@ge.comorMasto Public RelationsKen Darling or Howard Masto+1 518-786-6488kenneth.darling@ge.comhoward.masto@ge.comorWSI CorporationKristen Sullivan, +1 978-983-6607ksullivan@wsi.comorEditorial ContactBarbara Rudolph, +1 781-229-1811bjr@rudolphcommunications.com
Published at The Investorideas.com Renewable Energy and GreenTech Business and Stock News RSS Feed: Subscribe : http://www.investorideas.com/RSS/feeds/RES.xml
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Tuesday, April 07, 2009
$10M from GE and Current Investors Plus Federal Stimulus Incentives Propel Southwest Windpower’s Expansion in Small Wind Turbines
$10M from GE and Current Investors Plus Federal Stimulus Incentives Propel Southwest Windpower’s Expansion in Small Wind Turbines
FLAGSTAFF, Ariz.--April 6 2009 --One month after the adoption of federal tax credits to propel small wind energy growth in the United States, GE (NYSE: GE) is joining current investors to provide $10 million to the world’s largest manufacturer of small wind turbines, Southwest Windpower. Southwest Windpower—designer and producer of small wind turbines up to 3 kW—will use this new funding to accelerate its growth in new markets and products. Other current investors that participated are Altira; Rockport Capital Partners; NGP Energy Technology Partners; and CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures.
“Renewable energy is a critical component of the world’s energy mix, and small, more affordable wind energy will be a key new energy alternative,” said Frank Greco, CEO of Southwest Windpower, based in Flagstaff. “This new capital funding will allow us to expand our markets, helping to bring cost-effective small wind energy to new residential, commercial, and off-grid customers.”
The company did not publicly break down the investment amount for each firm participating in the funding round, the capital for which will help Southwest Windpower develop new markets, grow its sales offices in Europe, and expand in Asia. The funds also will help expand the company’s product line to develop even more efficient wind systems. Southwest Windpower has grown 3.5 times in annual sales volume over the last 4-year period at a Compound Annual Growth Rate of nearly 37%.
Much of the growth will center on the market expansion and continued enhancement of Skystream, a residential-scale wind generator that produces electricity up to 60 percent cheaper than retail electricity, bringing renewable energy options to residential consumers and commercial outlets. Skystream’s unique plug-and-play design allows the user to connect directly to the electric grid. For a residential home, Skystream can provide anywhere from 40 – 90% of the home’s electricity, depending on their consumption and wind resource. Southwest Windpower is developing new applications for the Skystream system, including commercial uses such as powering light poles for parking lots or municipalities and multiple unit installations for remote electrification.
“The new federal stimulus incentives and the company’s product performance improvements enable Southwest Windpower to offer renewable electricity at attractive rates in different regions of the country,” said Kevin Skillern, managing director and leader of venture capital at GE Energy Financial Services. “In many applications, Southwest Windpower offers the most economic distributed renewable generation technology, and GE is helping the company accelerate adoption of that technology.”
The US economic stabilization and fiscal stimulus laws enacted in late 2008 and early 2009, which allow consumers and small businesses to take a 30% tax credit off the installed cost of a wind turbine, are expected to fuel Southwest Windpower’s continued growth. The American Wind Energy Association predicts the federal incentives, on top of a growing number of state incentives, could help the small-turbine market grow 30-fold in as few as five years.
About Southwest Windpower
Flagstaff Arizona-based Southwest Windpower is the world’s largest producer of small wind generators (400-3000 watts). The 22-year old company has been a pioneer in the development of wind technology and has produced over 130,000 generators that provide power to residential homes, remote cabins, telecom transmitters, offshore platforms, water pumping and sailboats. Southwest Windpower distributes in more than 88 countries.
On the Web: www.windenergy.com
About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally with a long-term view, backed by the best of GE’s technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world’s most capital-intensive industries, energy. GE Energy Financial Services helps its customers and GE grow through new investments, strong partnerships and optimization of its more than $22 billion in assets. In renewable energy, GE Energy Financial Services is growing its portfolio of more than $4 billion in assets in wind, solar, biomass, hydro and geothermal power. GE Energy Financial Services is based in Stamford, Connecticut. For more information, visit www.geenergyfinancialservices.com.
About Rockport Capital Partners
RockPort Capital Partners is a venture capital firm based in Boston that invests energy and power technologies, advanced materials and process and prevention technologies. The firm is committed to companies with breakthrough technologies that deliver significant economic value to large potential markets.
On the Web: www.rockportcap.com
About Altira Group
Altira Group LLC is a Denver-based private equity and venture firm that has profitably invested in energy technology companies for over 12 years. Their portfolio includes companies in both the traditional and renewable energy sectors. Altira pursues opportunities to commercialize transformative technologies that drive efficiency and productivity gains throughout the energy value chain while reducing the carbon footprint. Altira is currently investing out of its fifth fund. The typical initial investment in a portfolio company is in the $5-$15 Million range, with follow-on investments as warranted. Altira seeks investment opportunities led by experienced and dedicated management teams who are commercializing new energy technologies with high growth potential.
On the Web: www.altiragroup.com
About CTTV Investments LLC
CTTV Investments LLC (CTVI) is the venture capital arm of Chevron Technology Ventures. CTVI uses a world-class venture capital model to identify and access technologies from early-stage companies that have the potential to strengthen Chevron’s core operations.
On the Web: www.chevron.com/technologyventures
About NGP Energy Technology Partners
NGP Energy Technology Partners, L.P. is a Washington, D.C.–based $148 million fund investing growth equity capital in companies providing technology-related products and services to the oil and gas, power and alternative energy sectors. The fund is managed by investment professionals with extensive experience investing in virtually all types of energy technologies and a strong track record of helping companies grow, create value, and establish strategic partnerships. NGP Energy Technology Partners is an affiliate of NGP Energy Capital Management, a $4.2 Billion firm based in Irving, Texas that invests in all sectors of the energy industry.
On the Web: www.ngpetp.com
Editor’s Note: Caption for accompanying photo: GE Energy Financial Services is joining other energy investors to provide Southwest Windpower with $10 million in funding to accelerate its growth in new markets and products.
TV news B-roll of Southwest Windpower’s Skystream, a residential-scale wind generator, is available for download at http://www.geenergyfinancialservices.com/RenewablesInvestments/default.asp.
Contacts Southwest WindpowerMiriam Robbins, +1-928-779-9463miriam@windenergy.com
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FLAGSTAFF, Ariz.--April 6 2009 --One month after the adoption of federal tax credits to propel small wind energy growth in the United States, GE (NYSE: GE) is joining current investors to provide $10 million to the world’s largest manufacturer of small wind turbines, Southwest Windpower. Southwest Windpower—designer and producer of small wind turbines up to 3 kW—will use this new funding to accelerate its growth in new markets and products. Other current investors that participated are Altira; Rockport Capital Partners; NGP Energy Technology Partners; and CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures.
“Renewable energy is a critical component of the world’s energy mix, and small, more affordable wind energy will be a key new energy alternative,” said Frank Greco, CEO of Southwest Windpower, based in Flagstaff. “This new capital funding will allow us to expand our markets, helping to bring cost-effective small wind energy to new residential, commercial, and off-grid customers.”
The company did not publicly break down the investment amount for each firm participating in the funding round, the capital for which will help Southwest Windpower develop new markets, grow its sales offices in Europe, and expand in Asia. The funds also will help expand the company’s product line to develop even more efficient wind systems. Southwest Windpower has grown 3.5 times in annual sales volume over the last 4-year period at a Compound Annual Growth Rate of nearly 37%.
Much of the growth will center on the market expansion and continued enhancement of Skystream, a residential-scale wind generator that produces electricity up to 60 percent cheaper than retail electricity, bringing renewable energy options to residential consumers and commercial outlets. Skystream’s unique plug-and-play design allows the user to connect directly to the electric grid. For a residential home, Skystream can provide anywhere from 40 – 90% of the home’s electricity, depending on their consumption and wind resource. Southwest Windpower is developing new applications for the Skystream system, including commercial uses such as powering light poles for parking lots or municipalities and multiple unit installations for remote electrification.
“The new federal stimulus incentives and the company’s product performance improvements enable Southwest Windpower to offer renewable electricity at attractive rates in different regions of the country,” said Kevin Skillern, managing director and leader of venture capital at GE Energy Financial Services. “In many applications, Southwest Windpower offers the most economic distributed renewable generation technology, and GE is helping the company accelerate adoption of that technology.”
The US economic stabilization and fiscal stimulus laws enacted in late 2008 and early 2009, which allow consumers and small businesses to take a 30% tax credit off the installed cost of a wind turbine, are expected to fuel Southwest Windpower’s continued growth. The American Wind Energy Association predicts the federal incentives, on top of a growing number of state incentives, could help the small-turbine market grow 30-fold in as few as five years.
About Southwest Windpower
Flagstaff Arizona-based Southwest Windpower is the world’s largest producer of small wind generators (400-3000 watts). The 22-year old company has been a pioneer in the development of wind technology and has produced over 130,000 generators that provide power to residential homes, remote cabins, telecom transmitters, offshore platforms, water pumping and sailboats. Southwest Windpower distributes in more than 88 countries.
On the Web: www.windenergy.com
About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally with a long-term view, backed by the best of GE’s technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world’s most capital-intensive industries, energy. GE Energy Financial Services helps its customers and GE grow through new investments, strong partnerships and optimization of its more than $22 billion in assets. In renewable energy, GE Energy Financial Services is growing its portfolio of more than $4 billion in assets in wind, solar, biomass, hydro and geothermal power. GE Energy Financial Services is based in Stamford, Connecticut. For more information, visit www.geenergyfinancialservices.com.
About Rockport Capital Partners
RockPort Capital Partners is a venture capital firm based in Boston that invests energy and power technologies, advanced materials and process and prevention technologies. The firm is committed to companies with breakthrough technologies that deliver significant economic value to large potential markets.
On the Web: www.rockportcap.com
About Altira Group
Altira Group LLC is a Denver-based private equity and venture firm that has profitably invested in energy technology companies for over 12 years. Their portfolio includes companies in both the traditional and renewable energy sectors. Altira pursues opportunities to commercialize transformative technologies that drive efficiency and productivity gains throughout the energy value chain while reducing the carbon footprint. Altira is currently investing out of its fifth fund. The typical initial investment in a portfolio company is in the $5-$15 Million range, with follow-on investments as warranted. Altira seeks investment opportunities led by experienced and dedicated management teams who are commercializing new energy technologies with high growth potential.
On the Web: www.altiragroup.com
About CTTV Investments LLC
CTTV Investments LLC (CTVI) is the venture capital arm of Chevron Technology Ventures. CTVI uses a world-class venture capital model to identify and access technologies from early-stage companies that have the potential to strengthen Chevron’s core operations.
On the Web: www.chevron.com/technologyventures
About NGP Energy Technology Partners
NGP Energy Technology Partners, L.P. is a Washington, D.C.–based $148 million fund investing growth equity capital in companies providing technology-related products and services to the oil and gas, power and alternative energy sectors. The fund is managed by investment professionals with extensive experience investing in virtually all types of energy technologies and a strong track record of helping companies grow, create value, and establish strategic partnerships. NGP Energy Technology Partners is an affiliate of NGP Energy Capital Management, a $4.2 Billion firm based in Irving, Texas that invests in all sectors of the energy industry.
On the Web: www.ngpetp.com
Editor’s Note: Caption for accompanying photo: GE Energy Financial Services is joining other energy investors to provide Southwest Windpower with $10 million in funding to accelerate its growth in new markets and products.
TV news B-roll of Southwest Windpower’s Skystream, a residential-scale wind generator, is available for download at http://www.geenergyfinancialservices.com/RenewablesInvestments/default.asp.
Contacts Southwest WindpowerMiriam Robbins, +1-928-779-9463miriam@windenergy.com
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