Chevron and Weyerhaeuser Form Biofuels Joint Venture
Catchlight Energy LLC Leverages World-Class Capabilities of Both Companies to Develop Renewable Transportation Fuels from Nonfood Sources
SAN RAMON, Calif. & FEDERAL WAY, Wash.--February 29,2008 --Chevron Corporation (NYSE:CVX) and Weyerhaeuser Company (NYSE:WY) today announced the creation of a 50-50 joint venture company focused on developing the next generation of renewable transportation fuels from nonfood sources.
The joint venture, Catchlight Energy LLC, will research and develop technology for converting cellulose-based biomass into economical, low-carbon biofuels. The formation of Catchlight Energy is the first milestone of a biofuels alliance announced by Chevron and Weyerhaeuser in April 2007 and reflects the companies’ shared view that nonfood biofuels will play an important role in diversifying the nation’s energy supply.
“At Weyerhaeuser, we believe our timberlands hold solutions to important problems for people and the planet,” said Miles Drake, senior vice president, Research and Development and chief technology officer for Weyerhaeuser. “Catchlight Energy represents an imaginative approach to releasing this potential as we work to develop a sustainable solution to the world's energy needs.”
“Catchlight Energy brings together two leaders in their industries and leverages their strengths — from feedstocks to fuel manufacturing to marketing — to create a sustainable, economic, nonfood biofuels business at commercial scale,” said Mike Wirth, executive vice president, Global Downstream for Chevron.
Michael Burnside of Chevron has been appointed chief executive officer of Catchlight. During his 33-year career with Chevron, Burnside has held a variety of positions in manufacturing, planning and analysis and finance, and has been involved with a number of joint ventures. W. Densmore Hunter of Weyerhaeuser has been named Catchlight’s chief technology officer. Since joining Weyerhaeuser in 1980, Hunter has held key research, technology and manufacturing positions and currently leads the company’s biofuels and bioproducts research and development efforts.
Both Chevron and Weyerhaeuser will contribute resources — including funding, background technology and employees — to Catchlight Energy. Catchlight’s initial focus will be on developing and demonstrating novel technologies for converting cellulose and lignin from a variety of sources into biofuels.
Chevron and Weyerhaeuser already have separate research partnerships under way with universities, national laboratories and technology-based companies to advance the development of nonfood biofuels.
About Chevron
Chevron Corporation is one of the world’s leading integrated energy companies with subsidiaries that conduct business across the globe. The company’s success is driven by the ingenuity and commitment of approximately 59,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products and services; manufactures and sells petrochemical products; generates power and produces geothermal energy; and develops and commercializes the energy resources of the future, including biofuels and other renewables. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
About Weyerhaeuser
Weyerhaeuser Company, one of the world’s largest integrated forest products companies, was incorporated in 1900. In 2007, sales were $16.3 billion. It has offices or operations in 13 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser’s businesses, products and practices is available at http://www.weyerhaeuser.com.
Cautionary Statement Relevant to Forward-Looking Information for the Purpose of "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995.
Some of the items discussed in this presentation are forward-looking statements about Chevron's and Weyerhaeuser's activities. Words such as "anticipates," "expects," "focused," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates" and similar expressions are intended to identify such forward-looking statements. The statements are based upon management's current expectations, estimates and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Unless legally required, Chevron and Weyerhaeuser undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts ChevronDonald Campbell, +1-925-842-2589Leif Sollid, +1-925-842-3422orWeyerhaeuserUnited States — Bruce Amundson, +1-253-924-3047Analysts — Kathryn McAuley, +1-253-924-2058Canada — Wayne Roznowsky, +1-780-539-8832
Friday, February 29, 2008
Tuesday, February 26, 2008
Clear Skies Solar Announces Grant from U.S. Patent Office for X-Trax(TM) Solar Monitoring System
Clear Skies Solar Announces Grant from U.S. Patent Office for X-Trax(TM) Solar Monitoring System
Cutting-Edge System Provides Solar Energy Production Monitoring Capabilities to Solar PV Industry
LOS ANGELES, February 26,2008 - Clear Skies Group (CSG), a wholly-owned subsidiary of Clear Skies Solar, Inc. (OTCBB:CSKH) and the leading provider of renewable energy solutions, today announced a U.S. Patent was granted for its X-Trax™ Solar monitoring system.
The patented system, designed and developed entirely by Clear Skies Group’s in-house research and development department, will deliver reliable autonomous data readings for solar energy systems around the United States.
“Most systems on the market today are developed for large-scale commercial customers,” said Ezra Green, Chairman and CEO of Clear Skies Solar. “Several years ago, we saw distinct voids in the solar products and services market for the under-100kw system size. X-Trax™ fills the production monitoring void completely, as it can track solar electrical production for customers in both the residential and commercial sectors while preparing and distributing the data to the appropriate end user such as SREC aggregators. The X-Trax™ program is one stop shopping.”
X-Trax™ was designed to maximize data management efficiency by removing all the unnecessary fields and concentrating on hard-core production values. Because X-Trax™ transmits on a cellular frequency. Clients are guaranteed an unprecedented level of reliability at an extremely affordable price. The comprehensive X-Trax™ program will be the first of its kind in the U.S. that will fully support the energy production industry.
“The technology of X-Trax™ will reliably monitor solar electrical production and ensure that customers’ systems are performing at optimal levels,” added Green. “With firmware development, software development, and sophisticated programming all completed in-house, X-Trax™ will lead the way to a new era of energy production tracking and ensuring solar systems are working at optimal levels at all times.”
Clear Skies Group is one of the only solar energy integrators in the United States to house its own research and development department, through which it designs, develops and implements innovative solutions for Solar PV systems. “Our technology allows us to stand out in the solar industry by providing solutions to our clients,” concluded Green.
The X-Trax™ monitor is the result of several years of extensive research, development and testing, and Clear Skies Group now has several systems operating in the US. The system will be ready for commercial launch by the summer of 2008.
About Clear Skies Group
Clear Skies Solar, Inc. through its wholly owned subsidiary, Clear Skies Group, Inc. ("CSG"), provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSG was incorporated in 2003 and launched formal operations in 2005. During that time period, CSG developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSG has become one of the premier solar electric installation companies in the country. For more information about CSG, visit www.clearskiesgroup.com.
Forward-Looking Statement Disclaimer
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Clear Skies Solar, Inc. (OTCBB:CSKH) is a featured showcase company on Renewableenergystocks.com More info visist showcase profile: http://www.renewableenergystocks.com/CO/CSG/Default.asp
Contact:Clear Skies GroupMedia Inquiries:Laura Finlayson, 201-488-0049laura@avalanchepr.comorInvestor Relations:PR Financial MarketingJim Blackman, 713-256-0369jim@prfmonline.com
Cutting-Edge System Provides Solar Energy Production Monitoring Capabilities to Solar PV Industry
LOS ANGELES, February 26,2008 - Clear Skies Group (CSG), a wholly-owned subsidiary of Clear Skies Solar, Inc. (OTCBB:CSKH) and the leading provider of renewable energy solutions, today announced a U.S. Patent was granted for its X-Trax™ Solar monitoring system.
The patented system, designed and developed entirely by Clear Skies Group’s in-house research and development department, will deliver reliable autonomous data readings for solar energy systems around the United States.
“Most systems on the market today are developed for large-scale commercial customers,” said Ezra Green, Chairman and CEO of Clear Skies Solar. “Several years ago, we saw distinct voids in the solar products and services market for the under-100kw system size. X-Trax™ fills the production monitoring void completely, as it can track solar electrical production for customers in both the residential and commercial sectors while preparing and distributing the data to the appropriate end user such as SREC aggregators. The X-Trax™ program is one stop shopping.”
X-Trax™ was designed to maximize data management efficiency by removing all the unnecessary fields and concentrating on hard-core production values. Because X-Trax™ transmits on a cellular frequency. Clients are guaranteed an unprecedented level of reliability at an extremely affordable price. The comprehensive X-Trax™ program will be the first of its kind in the U.S. that will fully support the energy production industry.
“The technology of X-Trax™ will reliably monitor solar electrical production and ensure that customers’ systems are performing at optimal levels,” added Green. “With firmware development, software development, and sophisticated programming all completed in-house, X-Trax™ will lead the way to a new era of energy production tracking and ensuring solar systems are working at optimal levels at all times.”
Clear Skies Group is one of the only solar energy integrators in the United States to house its own research and development department, through which it designs, develops and implements innovative solutions for Solar PV systems. “Our technology allows us to stand out in the solar industry by providing solutions to our clients,” concluded Green.
The X-Trax™ monitor is the result of several years of extensive research, development and testing, and Clear Skies Group now has several systems operating in the US. The system will be ready for commercial launch by the summer of 2008.
About Clear Skies Group
Clear Skies Solar, Inc. through its wholly owned subsidiary, Clear Skies Group, Inc. ("CSG"), provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSG was incorporated in 2003 and launched formal operations in 2005. During that time period, CSG developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSG has become one of the premier solar electric installation companies in the country. For more information about CSG, visit www.clearskiesgroup.com.
Forward-Looking Statement Disclaimer
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Clear Skies Solar, Inc. (OTCBB:CSKH) is a featured showcase company on Renewableenergystocks.com More info visist showcase profile: http://www.renewableenergystocks.com/CO/CSG/Default.asp
Contact:Clear Skies GroupMedia Inquiries:Laura Finlayson, 201-488-0049laura@avalanchepr.comorInvestor Relations:PR Financial MarketingJim Blackman, 713-256-0369jim@prfmonline.com
ZAP to Take Daimler Smart Car Lawsuit to California Supreme Court
ZAP to Take Daimler Smart Car Lawsuit to California Supreme Court
LOS ANGELES-- February 25, 2008 -Electric car maker ZAP (OTCBB:ZAAP) filed a lawsuit against DaimlerChrysler, Smart Car and various officials on October 28, 2005, alleging severe misconduct attempting to destroy ZAP's business model to bring the affordable and environmentally friendly smart fortwo to the US public. Following a procedural ruling by the trial court and the court of appeals that the defendants were not subject to the jurisdiction of the California courts, ZAP has announced its intentions to bring the matter to the California Supreme Court for resolution.
"Justice requires that the Company and individuals who set out to interfere with ZAP's business relationships and to disrupt and to steal ZAP's customer base should be held accountable for their actions in California Court," said ZAP CEO Steve Schneider.
Lawyers for ZAP expect the decision by the California Supreme Court within approximately three months.
ZAP began marketing the Smart Car in the United States after Smart USA decided there was no market in the US and closed its operations. Even Smart USA's former president Dave Schembri sent a resume to ZAP after Smart ceased operations, saying he believed there was a market for the car in the US.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias in collaboration with Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp
Contact:ZAPAlex Campbell, 707-525-8658acampbell@zapworld.com
Source: ZAP
LOS ANGELES-- February 25, 2008 -Electric car maker ZAP (OTCBB:ZAAP) filed a lawsuit against DaimlerChrysler, Smart Car and various officials on October 28, 2005, alleging severe misconduct attempting to destroy ZAP's business model to bring the affordable and environmentally friendly smart fortwo to the US public. Following a procedural ruling by the trial court and the court of appeals that the defendants were not subject to the jurisdiction of the California courts, ZAP has announced its intentions to bring the matter to the California Supreme Court for resolution.
"Justice requires that the Company and individuals who set out to interfere with ZAP's business relationships and to disrupt and to steal ZAP's customer base should be held accountable for their actions in California Court," said ZAP CEO Steve Schneider.
Lawyers for ZAP expect the decision by the California Supreme Court within approximately three months.
ZAP began marketing the Smart Car in the United States after Smart USA decided there was no market in the US and closed its operations. Even Smart USA's former president Dave Schembri sent a resume to ZAP after Smart ceased operations, saying he believed there was a market for the car in the US.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias in collaboration with Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp
Contact:ZAPAlex Campbell, 707-525-8658acampbell@zapworld.com
Source: ZAP
Monday, February 25, 2008
Akeena Solar Continues to Expand Southern California Footprint Thousand Oaks Site Marks Ninth Office in California
Akeena Solar Continues to Expand Southern California Footprint Thousand Oaks Site Marks Ninth Office in California
LOS GATOS, Calif.--February 25,2008 -Akeena Solar, Inc. (NASDAQ:AKNS), a leading designer and installer of solar power systems, announced it has expanded its operations to the Thousand Oaks market of California. The new location at 780 Lakefield Rd., in Westlake Village, Calif., marks the ninth office Akeena Solar has opened in recent months, a response to the rapidly growing demand for its new, sleek Andalay panels. Akeena Solar maintains a total of 10 offices, with one in New Jersey.
“With the right kinds of programs in place, an estimated 50 percent of all new electricity in the U.S. could be generated by solar power within eight years. Thousand Oaks is yet another area where we look forward to delivering clean, renewable power - and expanding solar’s reach,” said Akeena Solar CEO Barry Cinnamon. “With Akeena’s innovative Andalay technology, we offer unparalleled aesthetics, reliability and performance to the solar savvy residents north of Los Angeles.”
Akeena Solar recently partnered with Suntech Power Holdings Co., Ltd (STP) to distribute Andalay in Europe, Japan and Australia. With Suntech distributing Andalay overseas, Akeena Solar is concentrating on expanding its U.S. footprint via acquisitions and organic growth.
“As the largest solar power market in the United States, California is a prime target for Akeena Solar’s development,” said Akeena Solar Regional Sales Manager Thomas Ball. “Americans are more concerned about their sources of energy than ever, and Akeena is poised to make solar a reality for homeowners.”
About Akeena Solar, Inc.
Founded in 2001, Akeena Solar’s philosophy is simple: We believe producing clean electricity directly from the sun in the right thing to do for our environment and economy. Akeena Solar has grown to become one of the largest installers of residential and small commercial solar power systems in the United States, serving customers directly in California, New Jersey, New York, Connecticut and Pennsylvania. For more information, visit Akeena Solar’s website at www.akeena.com.
Contacts Akeena Solar, Inc.Barry Cinnamon, President and CEO, 408-402-9400bcinnamon@akeena.netorAntenna Group Public RelationsWhitney Phaneuf, 415-977-19
LOS GATOS, Calif.--February 25,2008 -Akeena Solar, Inc. (NASDAQ:AKNS), a leading designer and installer of solar power systems, announced it has expanded its operations to the Thousand Oaks market of California. The new location at 780 Lakefield Rd., in Westlake Village, Calif., marks the ninth office Akeena Solar has opened in recent months, a response to the rapidly growing demand for its new, sleek Andalay panels. Akeena Solar maintains a total of 10 offices, with one in New Jersey.
“With the right kinds of programs in place, an estimated 50 percent of all new electricity in the U.S. could be generated by solar power within eight years. Thousand Oaks is yet another area where we look forward to delivering clean, renewable power - and expanding solar’s reach,” said Akeena Solar CEO Barry Cinnamon. “With Akeena’s innovative Andalay technology, we offer unparalleled aesthetics, reliability and performance to the solar savvy residents north of Los Angeles.”
Akeena Solar recently partnered with Suntech Power Holdings Co., Ltd (STP) to distribute Andalay in Europe, Japan and Australia. With Suntech distributing Andalay overseas, Akeena Solar is concentrating on expanding its U.S. footprint via acquisitions and organic growth.
“As the largest solar power market in the United States, California is a prime target for Akeena Solar’s development,” said Akeena Solar Regional Sales Manager Thomas Ball. “Americans are more concerned about their sources of energy than ever, and Akeena is poised to make solar a reality for homeowners.”
About Akeena Solar, Inc.
Founded in 2001, Akeena Solar’s philosophy is simple: We believe producing clean electricity directly from the sun in the right thing to do for our environment and economy. Akeena Solar has grown to become one of the largest installers of residential and small commercial solar power systems in the United States, serving customers directly in California, New Jersey, New York, Connecticut and Pennsylvania. For more information, visit Akeena Solar’s website at www.akeena.com.
Contacts Akeena Solar, Inc.Barry Cinnamon, President and CEO, 408-402-9400bcinnamon@akeena.netorAntenna Group Public RelationsWhitney Phaneuf, 415-977-19
Wednesday, February 20, 2008
Suntech Reports Fourth Quarter and Full Year 2007 Financial Results
Suntech Reports Fourth Quarter and Full Year 2007 Financial Results
SAN FRANCISCO, Feb. 20. 2008 - Suntech Power Holdings Co., Ltd. (NYSE: STP ), one of the world's leading manufacturers of photovoltaic (PV) cells and modules, today announced fourth quarter and full year 2007 financial results.
Fourth Quarter and Full Year 2007 Highlights(1) -- Fourth quarter 2007 total shipments were approximately 110MW and total net revenues grew 82.5% year-over-year to $397.5 million. -- Full year 2007 total shipments were approximately 364MW and total net revenues grew 125.1% year-over-year to $1,348.3 million. -- On a non-GAAP(2) basis, Suntech's net income for the fourth quarter 2007 was $58.2 million or $0.34 per diluted American Depository Share (ADS). Each ADS represents one ordinary share. -- On a non-GAAP basis, Suntech's net income for the full year 2007 was $201.0 million or $1.19 per diluted American Depository Share (ADS). -- Suntech group's non-GAAP gross margin in its core Wafer-to-Module business was 23.3% for the fourth quarter of 2007 and 23.6% for the full year 2007. -- Achieved second sequential quarter of positive operating cash flow due to improved inventory management and cash management in the fourth quarter of 2007. -- Suntech's PV cell production capacity increased to 540MW as of year end 2007. The company is on track to reach 1GW PV cell production capacity by the end of 2008.
"I am pleased to report healthy revenue growth and exceptional market demand for Suntech's solar products in the fourth quarter," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "We have a strong sales pipeline for the full year 2008 and expect robust demand to continue in 2009 as new solar markets in countries such as Italy, Greece and South Korea grow to complement demand in Germany, Spain and the U.S. Suntech is in a strong position to capitalize on this demand as we implement a range of cost reduction initiatives and we expect to simultaneously grow revenues and margins in 2009."
"In 2007, Suntech more than doubled revenues, successfully transitioned our 20% efficiency Pluto technology into pilot production, diversified our sales markets and expanded our product range. These achievements have laid a strong foundation for 2008 and we are confident that over the coming year our strategies for rapid capacity growth, low cost innovation, sales region and product diversification, and balanced silicon procurement will increasingly differentiate Suntech as a leading player in the solar industry," Dr. Shi concluded.
Commenting on Suntech's silicon supply, Dr. Shi said, "We successfully developed a strong silicon supply pipeline of 530MW for 2008. Suntech's silicon outlook for 2009 is even more promising. Due to the silicon supply contracts we signed in the fourth quarter with Asia Silicon (Qinghai), Nitol Solar, Renesola and a Korean conglomerate, we believe that our silicon costs will fall more than twice as fast as our projections of our average sales prices in 2009. We are confident that this will enable Suntech to expand production and improve profitability in 2009."
Suntech increased PV cell production capacity from 420MW at the end of the third quarter of 2007 to 540MW at the end of 2007. Dr. Shi commented, "Our current capacity expansion is on track to hit our stated goal of 1GW PV cell production capacity by the end of 2008. The majority of this expansion will occur in the second half of 2008. To optimize our production volume and margins, approximately 60% of our full year production target of 530MW will be produced in the second half of 2008."
Recent Business Highlights
Products and Projects -- Suntech announced a license agreement with Akeena Solar to distribute Akeena's state-of-the-art solar panel technology, Andalay, in Europe, Japan and Australia. A valuable addition to Suntech's growing portfolio of solar products, Suntech targets sales of over 10MW of the Andalay solar panels to the licensed regions in 2008. -- Suntech was granted the National Export Inspection Exemption by the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) of the People's Republic of China. The export inspection exemption is China's highest honor awarded to companies that demonstrate exceptional internal product quality management and control. Suntech is the first Chinese solar company to receive this national recognition. -- Suntech supplied PV modules for a solar energy system on the roof of the town hall in Genk, Belgium. The project was engineered by Netherlands-based Oskomera Solar Power Solutions (OSPS) in collaboration with Belgium-based ENECO Energie. The system was constructed with approximately 1,260 Suntech solar modules with a capacity of 239kW.
Global Offices -- Suntech opened sales offices in Germany and Spain to strengthen its European sales network and broaden Suntech's ability to serve customers. Suntech expects these offices to increase the Company's ability to respond to demands in these new markets, enhance customer relationships and help build Suntech's market position. -- Suntech opened a sales office in South Korea to accelerate its business development efforts and customer service capabilities in Asia. Through this new location, Suntech seeks to expand its collaborations with key partners in South Korea and further solidify its position as a leading supplier of PV modules in South Korea. With a growing sales team in South Korea, the Company targets five-fold sales growth in that region from 2007 to 2008.
Industry Support and Recognition -- Dr. Zhengrong Shi was named one of China's Green Persons of the Year for his outstanding contribution to environmental protection initiatives and environmental awareness within China. The national award, sponsored by seven Chinese government institutions, is China's highest honor for those that make exceptional contributions to environmental protection. -- Suntech hosted the 2007 Chinese PV Industry International Competitiveness Forum on behalf of the China Renewable Energy Association on December 12, 2007, in Wuxi, Jiangsu Province, China. -- In November 2007, Suntech supported The Green Long March initiative to promote increased understanding of environmental successes and challenges in China, and encourage sustainable development.
Fourth Quarter 2007 Results
Non-GAAP Non- Net Gross GAAP Revenues Profit Gross (in $ % of Net (in $ Margin millions) Revenues millions) (%) Standard PV Modules $392.9 98.8% $87.1 22.2% - Wafer to Modules 365.5 91.9% 85.0 23.3% - Cell to Modules 27.4 6.9% 2.1 7.6% Others 4.6 1.2% (1.3) (27.1%) Total Net Revenues $397.5 100% $85.8 21.6%
Total net revenues for the fourth quarter of 2007 were $397.5 million, representing an increase of 82.5% from the corresponding period in 2006.
Non-GAAP gross profit for the fourth quarter of 2007 was $85.8 million, an increase of 74.9% year-over-year. Non-GAAP gross margin for the Company's core wafer-to-module business was 23.3% and non-GAAP consolidated gross margin was 21.6%.
Non-GAAP operating expenses in the fourth quarter of 2007 totaled $27.3 million and accounted for 6.9% of total net revenues. The increase of operating expenses was primarily due to foreign exchange losses related to the depreciation of the USD against the CNY in the fourth quarter 2007. Foreign currency exchange loss recorded in operating expenses was $6.3 million in the fourth quarter of 2007, compared to $1.2 million in the third quarter 2007.
Non-GAAP income from operations for the fourth quarter of 2007 was $58.5 million, an increase of 71.2% year-over-year. Non-GAAP operating margin was 14.7%.
Non-GAAP net income for the fourth quarter of 2007 was $58.2 million, an increase of 64.0% year-over-year, or $0.34 per non-GAAP diluted ADS.
On a GAAP basis, for the fourth quarter of 2007 gross profit was $82.7 million, an increase of 70.6% year-over-year. Gross margin for the core wafer to module business was 22.4%. Consolidated gross margin was 20.8% for the fourth quarter of 2007 compared to 22.3% for the fourth quarter of 2006. The year-over-year decrease in consolidated gross margin was mainly due to increased wafer costs, the appreciation of the CNY and increased production of modules utilizing third party PV cells in 2007.
On a GAAP basis, operating expenses for the fourth quarter of 2007 were $32.1 million. Income from operations was $50.6 million for the fourth quarter of 2007, an increase of 70.3% year-over-year. Operating margin was 12.7%. Net income was $50.6 million, an increase of 61.1% year-over-year, or $0.29 per diluted ADS.
In the fourth quarter of 2007, capital expenditures, which were primarily related to production capacity expansion and the construction of Suntech's new production facilities, totaled $42.3 million and depreciation and amortization expenses totaled $4.3 million.
Full Year 2007 Results Non-GAAP Non- Net Gross GAAP Revenues Profit Gross (in $ % of Net (in $ Margin millions) Revenues millions) (%) Standard PV Modules $1,331.7 98.8% $284.6 21.4% - Wafer to Modules 1,172.8 87.0% 276.4 23.6% - Cell to Modules 158.9 11.8% 8.2 5.2% Others 16.6 1.2% 0.2 1.5% Total Net Revenues $1,348.3 100% $284.8 21.1%
Total net revenues for the full year 2007 were $1,348.3 million, representing a 125.1% increase from 2006.
On a non-GAAP basis, for the full year 2007 gross profit was $284.8 million, an increase of 88.3% year-over-year. Gross margin for the Company's core wafer-to-module business was 23.6% for the full year 2007. 2007 consolidated gross margin was 21.1% compared to 25.3% in 2006. Income from operations was $202.7 million, an increase of 71.9% year-over-year. Net income was $201.0 million, an increase of 67.8% year-over-year, or $1.19 per diluted ADS.
On a GAAP basis, for the full year 2007 gross profit was $274.1 million, an increase of 84.1% year-over-year. Gross margin for the Company's core wafer-to-module business was 22.7% for the full year 2007. 2007 gross margin was 20.3% compared to 24.9% in 2006. Income from operations was $171.6 million, an increase of 66.2% year-over-year. Net income was $171.3 million, an increase of 61.6% year-over-year, or $1.02 per diluted ADS.
In the full year 2007, capital expenditures, which were primarily related to production capacity expansion and the construction of Suntech's new production facilities, totaled $162.7 million and depreciation and amortization expenses totaled $20.5 million.
Suntech's balance of cash and cash equivalents was $521.0 million at December 31, 2007, compared to $588.6 million at September 30, 2007. Inventory totaled $176.2 million at December 31, 2007, compared to $164.3 million at September 30, 2007.
Business Outlook
Based on current operating conditions, Suntech expects revenues for the first quarter of 2008 to be in the range of $370 million to $380 million. Non-GAAP consolidated gross margin in the first quarter of 2008 is expected to be slightly higher than the fourth quarter of 2007. These expectations also take into account what is a seasonally slow quarter for Suntech due to the shorter month of February and the Chinese New Year holidays which were somewhat worsened by the severe weather conditions experienced in the first quarter of 2008.
For the full year 2008, Suntech expects total PV module shipments to be 530MW and revenues to be in the range of $1.9 billion to $2.1 billion. Within 2008, Suntech believes that approximately 40% of this will be achieved in the first half of 2008 and 60% in the second half of 2008. Suntech expects that greater quantities of reasonably priced silicon will become increasingly available from mid-2008. Suntech targets to reach 1GW of installed PV cell production capacity by year-end 2008.
Senior Management Hires
Mr. Jeffrey Shubert was hired as Director of Marketing of Suntech America and Director of Global Marketing Strategy, based at Suntech's U.S. headquarters in San Francisco. He will lead the marketing team in the U.S. to position Suntech for future sales growth in the key Americas region and provide strategic leadership to the global marketing team to ensure that all marketing programs are developed and executed for maximum impact and results. Mr. Shubert has over 20 years experience in strategic marketing, in the U.S. and internationally, working with a broad range of companies in many industry sectors. Most recently he was Vice President, Client Service for Nimblefish Technologies, a major developer and operator of marketing engines and was a consultant to Cisco Systems. Mr. Shubert also spent six years in Asia, serving as a Senior Vice President at Foote Cone & Belding International and President of Foote Cone & Belding International Japan.
Fourth Quarter and Full Year 2007 Conference Call Information
Suntech management will host a conference call today, Wednesday, February 20, 2008 at 8:00 a.m. Eastern Time (which corresponds to February 20, 2008 at 9:00 p.m. Beijing/Hong Kong time) to discuss the company's results.
To access the conference call, please dial +1-617-786-4511 (for U.S. callers) or +852-3002-1672 (for international callers) and ask to be connected to the Suntech earnings conference call. A live and archived webcast of the conference call will be available on Suntech's website at http://www.suntech-power.com under Investors: Events.
A telephonic replay of the conference call will be available until March 2, 2008 by dialing +1-617-801-6888 (passcode: 61218685).
About Suntech
Suntech Power Holdings Co., Ltd. is a world leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of building integrated photovoltaic (BIPV) products under the MSK brand. Suntech has sales offices worldwide and is a market leader in key global solar markets. For more information, please visit http://www.suntech-power.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. In particular, the projected first quarter and full year 2008 data regarding sales volume, capacity, revenues, gross margin and the business outlook and quotations from management in this announcement, as well as Suntech's strategic and operational plans, are forward-looking statements. Forward- looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
About Non-GAAP Financial Measures
To supplement its consolidated financial results presented in accordance with GAAP, Suntech uses the following non-GAAP measures which are adjusted from the most directly comparable GAAP results to exclude items related to share-based compensation, restructuring expenses and amortization expenses incurred from the purchase price allocation effect related to the MSK Corporation acquisition. Suntech believes that non-GAAP information is useful for analysts and investors to evaluate Suntech's future on-going performance because they enable a more meaningful comparison of Suntech's projected cash earnings and performance with its historical results from prior periods. This information is not intended to represent funds available for Suntech's discretionary use and are not intended to represent or to be used as a substitute for operating income or net income as measured under GAAP. Many analysts covering Suntech use the non-GAAP measures as well. These non-GAAP measures are not in accordance with or an alternative for GAAP financial data, the non-GAAP results should be reviewed together with the GAAP results and are not intended to serve as a substitute for results under GAAP, and may be different from non-GAAP measures used by other companies. For more information on these non-GAAP financial measures, please see the tables captioned "Reconciliations of non-GAAP results of operations measures to the nearest comparable GAAP measures" set forth at the end of this release and which shall be read together with the preceding financial statements prepared under GAAP.
(1) Selected highlights of the Company's fourth quarter and full year 2007 results are set forth in the text of the release and should be read together with the detailed financial statements at the end of this release. (2) All non-GAAP measures exclude share-based compensation expenses, restructuring expenses and amortization expenses incurred from purchase price allocation related to the acquisition of MSK Corporation. For further details on non-GAAP measures, please refer to the reconciliation table and a detailed discussion of management's use of non-GAAP information set forth in this press release.
For more information, please contact:
In China: Rory Macpherson Investor Relations Manager Suntech Power Holdings Co., Ltd. Tel: +86-510-8531-8922 Email: rory@suntech-power.com
In the United States: Sanjay M. Hurry Vice President The Piacente Group, Inc. Tel: +1-212-481-2050 Email: suntech@tpg-ir.com
Source: Suntech Power Holdings Co., Ltd.
SAN FRANCISCO, Feb. 20. 2008 - Suntech Power Holdings Co., Ltd. (NYSE: STP ), one of the world's leading manufacturers of photovoltaic (PV) cells and modules, today announced fourth quarter and full year 2007 financial results.
Fourth Quarter and Full Year 2007 Highlights(1) -- Fourth quarter 2007 total shipments were approximately 110MW and total net revenues grew 82.5% year-over-year to $397.5 million. -- Full year 2007 total shipments were approximately 364MW and total net revenues grew 125.1% year-over-year to $1,348.3 million. -- On a non-GAAP(2) basis, Suntech's net income for the fourth quarter 2007 was $58.2 million or $0.34 per diluted American Depository Share (ADS). Each ADS represents one ordinary share. -- On a non-GAAP basis, Suntech's net income for the full year 2007 was $201.0 million or $1.19 per diluted American Depository Share (ADS). -- Suntech group's non-GAAP gross margin in its core Wafer-to-Module business was 23.3% for the fourth quarter of 2007 and 23.6% for the full year 2007. -- Achieved second sequential quarter of positive operating cash flow due to improved inventory management and cash management in the fourth quarter of 2007. -- Suntech's PV cell production capacity increased to 540MW as of year end 2007. The company is on track to reach 1GW PV cell production capacity by the end of 2008.
"I am pleased to report healthy revenue growth and exceptional market demand for Suntech's solar products in the fourth quarter," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "We have a strong sales pipeline for the full year 2008 and expect robust demand to continue in 2009 as new solar markets in countries such as Italy, Greece and South Korea grow to complement demand in Germany, Spain and the U.S. Suntech is in a strong position to capitalize on this demand as we implement a range of cost reduction initiatives and we expect to simultaneously grow revenues and margins in 2009."
"In 2007, Suntech more than doubled revenues, successfully transitioned our 20% efficiency Pluto technology into pilot production, diversified our sales markets and expanded our product range. These achievements have laid a strong foundation for 2008 and we are confident that over the coming year our strategies for rapid capacity growth, low cost innovation, sales region and product diversification, and balanced silicon procurement will increasingly differentiate Suntech as a leading player in the solar industry," Dr. Shi concluded.
Commenting on Suntech's silicon supply, Dr. Shi said, "We successfully developed a strong silicon supply pipeline of 530MW for 2008. Suntech's silicon outlook for 2009 is even more promising. Due to the silicon supply contracts we signed in the fourth quarter with Asia Silicon (Qinghai), Nitol Solar, Renesola and a Korean conglomerate, we believe that our silicon costs will fall more than twice as fast as our projections of our average sales prices in 2009. We are confident that this will enable Suntech to expand production and improve profitability in 2009."
Suntech increased PV cell production capacity from 420MW at the end of the third quarter of 2007 to 540MW at the end of 2007. Dr. Shi commented, "Our current capacity expansion is on track to hit our stated goal of 1GW PV cell production capacity by the end of 2008. The majority of this expansion will occur in the second half of 2008. To optimize our production volume and margins, approximately 60% of our full year production target of 530MW will be produced in the second half of 2008."
Recent Business Highlights
Products and Projects -- Suntech announced a license agreement with Akeena Solar to distribute Akeena's state-of-the-art solar panel technology, Andalay, in Europe, Japan and Australia. A valuable addition to Suntech's growing portfolio of solar products, Suntech targets sales of over 10MW of the Andalay solar panels to the licensed regions in 2008. -- Suntech was granted the National Export Inspection Exemption by the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) of the People's Republic of China. The export inspection exemption is China's highest honor awarded to companies that demonstrate exceptional internal product quality management and control. Suntech is the first Chinese solar company to receive this national recognition. -- Suntech supplied PV modules for a solar energy system on the roof of the town hall in Genk, Belgium. The project was engineered by Netherlands-based Oskomera Solar Power Solutions (OSPS) in collaboration with Belgium-based ENECO Energie. The system was constructed with approximately 1,260 Suntech solar modules with a capacity of 239kW.
Global Offices -- Suntech opened sales offices in Germany and Spain to strengthen its European sales network and broaden Suntech's ability to serve customers. Suntech expects these offices to increase the Company's ability to respond to demands in these new markets, enhance customer relationships and help build Suntech's market position. -- Suntech opened a sales office in South Korea to accelerate its business development efforts and customer service capabilities in Asia. Through this new location, Suntech seeks to expand its collaborations with key partners in South Korea and further solidify its position as a leading supplier of PV modules in South Korea. With a growing sales team in South Korea, the Company targets five-fold sales growth in that region from 2007 to 2008.
Industry Support and Recognition -- Dr. Zhengrong Shi was named one of China's Green Persons of the Year for his outstanding contribution to environmental protection initiatives and environmental awareness within China. The national award, sponsored by seven Chinese government institutions, is China's highest honor for those that make exceptional contributions to environmental protection. -- Suntech hosted the 2007 Chinese PV Industry International Competitiveness Forum on behalf of the China Renewable Energy Association on December 12, 2007, in Wuxi, Jiangsu Province, China. -- In November 2007, Suntech supported The Green Long March initiative to promote increased understanding of environmental successes and challenges in China, and encourage sustainable development.
Fourth Quarter 2007 Results
Non-GAAP Non- Net Gross GAAP Revenues Profit Gross (in $ % of Net (in $ Margin millions) Revenues millions) (%) Standard PV Modules $392.9 98.8% $87.1 22.2% - Wafer to Modules 365.5 91.9% 85.0 23.3% - Cell to Modules 27.4 6.9% 2.1 7.6% Others 4.6 1.2% (1.3) (27.1%) Total Net Revenues $397.5 100% $85.8 21.6%
Total net revenues for the fourth quarter of 2007 were $397.5 million, representing an increase of 82.5% from the corresponding period in 2006.
Non-GAAP gross profit for the fourth quarter of 2007 was $85.8 million, an increase of 74.9% year-over-year. Non-GAAP gross margin for the Company's core wafer-to-module business was 23.3% and non-GAAP consolidated gross margin was 21.6%.
Non-GAAP operating expenses in the fourth quarter of 2007 totaled $27.3 million and accounted for 6.9% of total net revenues. The increase of operating expenses was primarily due to foreign exchange losses related to the depreciation of the USD against the CNY in the fourth quarter 2007. Foreign currency exchange loss recorded in operating expenses was $6.3 million in the fourth quarter of 2007, compared to $1.2 million in the third quarter 2007.
Non-GAAP income from operations for the fourth quarter of 2007 was $58.5 million, an increase of 71.2% year-over-year. Non-GAAP operating margin was 14.7%.
Non-GAAP net income for the fourth quarter of 2007 was $58.2 million, an increase of 64.0% year-over-year, or $0.34 per non-GAAP diluted ADS.
On a GAAP basis, for the fourth quarter of 2007 gross profit was $82.7 million, an increase of 70.6% year-over-year. Gross margin for the core wafer to module business was 22.4%. Consolidated gross margin was 20.8% for the fourth quarter of 2007 compared to 22.3% for the fourth quarter of 2006. The year-over-year decrease in consolidated gross margin was mainly due to increased wafer costs, the appreciation of the CNY and increased production of modules utilizing third party PV cells in 2007.
On a GAAP basis, operating expenses for the fourth quarter of 2007 were $32.1 million. Income from operations was $50.6 million for the fourth quarter of 2007, an increase of 70.3% year-over-year. Operating margin was 12.7%. Net income was $50.6 million, an increase of 61.1% year-over-year, or $0.29 per diluted ADS.
In the fourth quarter of 2007, capital expenditures, which were primarily related to production capacity expansion and the construction of Suntech's new production facilities, totaled $42.3 million and depreciation and amortization expenses totaled $4.3 million.
Full Year 2007 Results Non-GAAP Non- Net Gross GAAP Revenues Profit Gross (in $ % of Net (in $ Margin millions) Revenues millions) (%) Standard PV Modules $1,331.7 98.8% $284.6 21.4% - Wafer to Modules 1,172.8 87.0% 276.4 23.6% - Cell to Modules 158.9 11.8% 8.2 5.2% Others 16.6 1.2% 0.2 1.5% Total Net Revenues $1,348.3 100% $284.8 21.1%
Total net revenues for the full year 2007 were $1,348.3 million, representing a 125.1% increase from 2006.
On a non-GAAP basis, for the full year 2007 gross profit was $284.8 million, an increase of 88.3% year-over-year. Gross margin for the Company's core wafer-to-module business was 23.6% for the full year 2007. 2007 consolidated gross margin was 21.1% compared to 25.3% in 2006. Income from operations was $202.7 million, an increase of 71.9% year-over-year. Net income was $201.0 million, an increase of 67.8% year-over-year, or $1.19 per diluted ADS.
On a GAAP basis, for the full year 2007 gross profit was $274.1 million, an increase of 84.1% year-over-year. Gross margin for the Company's core wafer-to-module business was 22.7% for the full year 2007. 2007 gross margin was 20.3% compared to 24.9% in 2006. Income from operations was $171.6 million, an increase of 66.2% year-over-year. Net income was $171.3 million, an increase of 61.6% year-over-year, or $1.02 per diluted ADS.
In the full year 2007, capital expenditures, which were primarily related to production capacity expansion and the construction of Suntech's new production facilities, totaled $162.7 million and depreciation and amortization expenses totaled $20.5 million.
Suntech's balance of cash and cash equivalents was $521.0 million at December 31, 2007, compared to $588.6 million at September 30, 2007. Inventory totaled $176.2 million at December 31, 2007, compared to $164.3 million at September 30, 2007.
Business Outlook
Based on current operating conditions, Suntech expects revenues for the first quarter of 2008 to be in the range of $370 million to $380 million. Non-GAAP consolidated gross margin in the first quarter of 2008 is expected to be slightly higher than the fourth quarter of 2007. These expectations also take into account what is a seasonally slow quarter for Suntech due to the shorter month of February and the Chinese New Year holidays which were somewhat worsened by the severe weather conditions experienced in the first quarter of 2008.
For the full year 2008, Suntech expects total PV module shipments to be 530MW and revenues to be in the range of $1.9 billion to $2.1 billion. Within 2008, Suntech believes that approximately 40% of this will be achieved in the first half of 2008 and 60% in the second half of 2008. Suntech expects that greater quantities of reasonably priced silicon will become increasingly available from mid-2008. Suntech targets to reach 1GW of installed PV cell production capacity by year-end 2008.
Senior Management Hires
Mr. Jeffrey Shubert was hired as Director of Marketing of Suntech America and Director of Global Marketing Strategy, based at Suntech's U.S. headquarters in San Francisco. He will lead the marketing team in the U.S. to position Suntech for future sales growth in the key Americas region and provide strategic leadership to the global marketing team to ensure that all marketing programs are developed and executed for maximum impact and results. Mr. Shubert has over 20 years experience in strategic marketing, in the U.S. and internationally, working with a broad range of companies in many industry sectors. Most recently he was Vice President, Client Service for Nimblefish Technologies, a major developer and operator of marketing engines and was a consultant to Cisco Systems. Mr. Shubert also spent six years in Asia, serving as a Senior Vice President at Foote Cone & Belding International and President of Foote Cone & Belding International Japan.
Fourth Quarter and Full Year 2007 Conference Call Information
Suntech management will host a conference call today, Wednesday, February 20, 2008 at 8:00 a.m. Eastern Time (which corresponds to February 20, 2008 at 9:00 p.m. Beijing/Hong Kong time) to discuss the company's results.
To access the conference call, please dial +1-617-786-4511 (for U.S. callers) or +852-3002-1672 (for international callers) and ask to be connected to the Suntech earnings conference call. A live and archived webcast of the conference call will be available on Suntech's website at http://www.suntech-power.com under Investors: Events.
A telephonic replay of the conference call will be available until March 2, 2008 by dialing +1-617-801-6888 (passcode: 61218685).
About Suntech
Suntech Power Holdings Co., Ltd. is a world leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of building integrated photovoltaic (BIPV) products under the MSK brand. Suntech has sales offices worldwide and is a market leader in key global solar markets. For more information, please visit http://www.suntech-power.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. In particular, the projected first quarter and full year 2008 data regarding sales volume, capacity, revenues, gross margin and the business outlook and quotations from management in this announcement, as well as Suntech's strategic and operational plans, are forward-looking statements. Forward- looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
About Non-GAAP Financial Measures
To supplement its consolidated financial results presented in accordance with GAAP, Suntech uses the following non-GAAP measures which are adjusted from the most directly comparable GAAP results to exclude items related to share-based compensation, restructuring expenses and amortization expenses incurred from the purchase price allocation effect related to the MSK Corporation acquisition. Suntech believes that non-GAAP information is useful for analysts and investors to evaluate Suntech's future on-going performance because they enable a more meaningful comparison of Suntech's projected cash earnings and performance with its historical results from prior periods. This information is not intended to represent funds available for Suntech's discretionary use and are not intended to represent or to be used as a substitute for operating income or net income as measured under GAAP. Many analysts covering Suntech use the non-GAAP measures as well. These non-GAAP measures are not in accordance with or an alternative for GAAP financial data, the non-GAAP results should be reviewed together with the GAAP results and are not intended to serve as a substitute for results under GAAP, and may be different from non-GAAP measures used by other companies. For more information on these non-GAAP financial measures, please see the tables captioned "Reconciliations of non-GAAP results of operations measures to the nearest comparable GAAP measures" set forth at the end of this release and which shall be read together with the preceding financial statements prepared under GAAP.
(1) Selected highlights of the Company's fourth quarter and full year 2007 results are set forth in the text of the release and should be read together with the detailed financial statements at the end of this release. (2) All non-GAAP measures exclude share-based compensation expenses, restructuring expenses and amortization expenses incurred from purchase price allocation related to the acquisition of MSK Corporation. For further details on non-GAAP measures, please refer to the reconciliation table and a detailed discussion of management's use of non-GAAP information set forth in this press release.
For more information, please contact:
In China: Rory Macpherson Investor Relations Manager Suntech Power Holdings Co., Ltd. Tel: +86-510-8531-8922 Email: rory@suntech-power.com
In the United States: Sanjay M. Hurry Vice President The Piacente Group, Inc. Tel: +1-212-481-2050 Email: suntech@tpg-ir.com
Source: Suntech Power Holdings Co., Ltd.
Tuesday, February 19, 2008
Top 10 Energy Stock List Picks Electric Car Maker ZAP (OTC BB: ZAAP)
Top 10 Energy Stock List Picks Electric Car Maker ZAP (OTC BB: ZAAP)
SANTA ROSA, CA----Feb 19, 2008 -- Energy Tech Stocks (http://energytechstocks.com) named ZAP #1 in a special feature of "10 Companies That Appear to Have a Chance to Hit It Big."
ZAP (OTC BB:ZAAP.OB has grabbed global headlines in the past few months with its work in electric cars; such popular media as Popular Mechanics, Motor Trend, Automotive News Europe, Wired Magazine, NBC Network News, ABC Network News, The Daily Telegraph, Edmunds, AOL News and countless others.
"Just as important to a company like ZAP," writes Energy Tech Stocks, "experts think the electric vehicle market will be open to small and large companies alike. Indeed, there are more than 30 companies, many of them private firms, presently developing electric vehicles, any of which may one day be in people's garages.
"ZAP seems to be building momentum. It's adding to its dealer network in the U.S., which presently stands at a little over 50 but could, if the company meets its goal, hit 100 by the end of the year. In addition, the company has a joint venture agreement with China Youngman Automotive Group under which it hopes to introduce highway capable electric and hybrid vehicles under the revived 'Detroit Electric' brand name."
EnergyTechStocks.com was established to report on the ongoing revolution caused by the rapidly rising demand for energy. Its staff is made up of accredited authors, industry experts and journalists with experience working for The Wall Street Journal, CNBC, CBS television and CBS Marketwatch and The New York Times.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias in collaboration with Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp
Contact: Contact: ZAP Alex Campbell 707-525-8658 acampbell@zapworld.com
SANTA ROSA, CA----Feb 19, 2008 -- Energy Tech Stocks (http://energytechstocks.com) named ZAP #1 in a special feature of "10 Companies That Appear to Have a Chance to Hit It Big."
ZAP (OTC BB:ZAAP.OB has grabbed global headlines in the past few months with its work in electric cars; such popular media as Popular Mechanics, Motor Trend, Automotive News Europe, Wired Magazine, NBC Network News, ABC Network News, The Daily Telegraph, Edmunds, AOL News and countless others.
"Just as important to a company like ZAP," writes Energy Tech Stocks, "experts think the electric vehicle market will be open to small and large companies alike. Indeed, there are more than 30 companies, many of them private firms, presently developing electric vehicles, any of which may one day be in people's garages.
"ZAP seems to be building momentum. It's adding to its dealer network in the U.S., which presently stands at a little over 50 but could, if the company meets its goal, hit 100 by the end of the year. In addition, the company has a joint venture agreement with China Youngman Automotive Group under which it hopes to introduce highway capable electric and hybrid vehicles under the revived 'Detroit Electric' brand name."
EnergyTechStocks.com was established to report on the ongoing revolution caused by the rapidly rising demand for energy. Its staff is made up of accredited authors, industry experts and journalists with experience working for The Wall Street Journal, CNBC, CBS television and CBS Marketwatch and The New York Times.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias in collaboration with Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp
Contact: Contact: ZAP Alex Campbell 707-525-8658 acampbell@zapworld.com
Thursday, February 14, 2008
Renewable Energy Stocks Sector Close-Up on Solar Stocks; Solar Stocks Light Up Thanks to First Solar Earnings
Renewable Energy Stocks Sector Close-Up on Solar Stocks; Solar Stocks Light Up Thanks to First Solar Earnings
Investors Get Encouraging Signs for Solar Technology
POINT ROBERTS, WA and DELTA, BC--Feb 14, 2008 -- 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. First Solar was the bright star of the sector, leading solar stocks on a rally reminding investors of the performance and gains of 2007.
Renewable Energy Stocks solar expert, J Peter Lynch, commented, "First Solar's Q4 07 announcement today dramatically exceeded the street's general consensus resulting in an 20% gain in the stock which was oversold technically in the short term."
Mr. Lynch went on to say, "More importantly their announcement of full scale production and the resultant drop in cost per watt showed investors encouraging signs of PV technology reaching grid parity in the not too distant future and opening up an even more promising future for solar companies worldwide."
Sector Close-Up as of Trading February 13, 2008:
First Solar, Inc.(Market, News) beat the street and rewarded investors with a $52.90 (30.13%) gain with earnings of $62.9 million, 77 cents per share, compared with $8 million, or 12 cents per share, in the year-ago quarter. The rally continued in after market trading with additional gains. Revenues for the fiscal year ended December 29, 2007 were $504.0 million, up from $135.0 million in fiscal year 2006.
According to the company's press release, quoting Michael J. Ahearn, Chief Executive Officer of First Solar, "During the fourth quarter of 2007 we benefited from the full capacity and economies of scale of our Frankfurt/Oder plant. This combined with continued throughput and conversion efficiency gains afforded us strong operating leverage and decreased our manufacturing cost per watt by 12% year over year to $1.12 per watt in the fourth quarter of 2007, further solidifying our cost leadership position in the industry."
Clear Skies Solar, Inc. (OTC BB:CSKH.OB ) had a daily gain of 5.71%. According to Ezra Green, “FSLR earnings are further proof that the Solar sector is viable AND here to stay. We at CSKH are committed to the growth of solar energy by introducing new technologies and innovative methods of integrating solar technology into every sector of the commercial & industrial arena, we applaud their success."
Akeena Solar Inc. (Market, News ) closed up 5.56%.
Evergreen Solar Inc (Market, News) shares were up 1.23 (12.17%) and another 2.20% in after market trading.
LDK Solar ADR (Market, News) had gains of $2.12 (6.32%).
Canadian Solar Inc. (Market, News) radiated, up $2.60 (12.87%).
China Sunergy Company Ltd. (Market, News) was another bright star up 6.87%.
SunPower Corporation (Market, News ) followed the pack with an $8.82 (12.37%) gain.
Yingli Green Energy Holding Company Limited (Market, News) rallied up 16.6 %.
"The solar industry is well on its way towards attaining a significant presence within the broader electric power industry, and as evidenced by the rise in reported revenues by solar manufacturers, is poised for continued strong growth over the foreseeable future," stated Tom Djokovich, CEO of XsunX, Inc.(OTCBB:XSNX). "Grid parity, supported by a global drive to reduce green house gases, government incentives, and aggressive corporate cost-cutting plans, should be attained within five years and drive further impressive solar growth. In my opinion the sky's the limit for solar's future. We're very excited about leveraging our experience with amorphous thin-films to build and operate a module manufacturing facility and begin delivering much needed product into this market in early 2009," concluded Djokovich.
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
Investorideas.com and RenewableEnergyStocks.com will be hosting an online investor conference, March 21, 2008, giving investors free online access to industry and investing perspective in the greentech sector.
Solar companies Akeena Solar(NASDAQ:AKNS), Clear Skies Group Inc (OTCBB: CSKH) and XsunX:(OTCBB: XSNX) will present in the company of some of the leading experts in the industry. Conference Info: http://www.investorideas.com/Forums/Portals/Green2.aspx
Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTC BB:CSKH.OB ) through its wholly owned subsidiary, Clear Skies Group, Inc., provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSG was incorporated in 2003 and launched formal operations in 2005. During that time period, CSG developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSG has become one of the premier solar electric installation companies in the country. More info can be found on the Investorideas.com Company Showcase, or the company website at www.clearskiesgroup.com.
Featured Showcase Solar Company XsunX: (OTCBB: XSNX) Based in Aliso Viejo, Calif., XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi- megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. More info on XsunX, Inc. can be found on our media profile at: http://www.investorideas.com/co/xsnx/default.asp or http://www.xsunx.com/
About Our Green Investor Portals:
www.RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, and a directory of stocks within the renewable energy, clean tech and fuel cell sectors.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. XsunX and Clear Skies Holdings compensate the website $5000 per month.
www.InvestorIdeas.com/About/Disclaimer.asp
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com,
Source: RenewableEnergyStocks.com, XsunX, Clear Skies Holdings, Inc
Investors Get Encouraging Signs for Solar Technology
POINT ROBERTS, WA and DELTA, BC--Feb 14, 2008 -- 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. First Solar was the bright star of the sector, leading solar stocks on a rally reminding investors of the performance and gains of 2007.
Renewable Energy Stocks solar expert, J Peter Lynch, commented, "First Solar's Q4 07 announcement today dramatically exceeded the street's general consensus resulting in an 20% gain in the stock which was oversold technically in the short term."
Mr. Lynch went on to say, "More importantly their announcement of full scale production and the resultant drop in cost per watt showed investors encouraging signs of PV technology reaching grid parity in the not too distant future and opening up an even more promising future for solar companies worldwide."
Sector Close-Up as of Trading February 13, 2008:
First Solar, Inc.(Market, News) beat the street and rewarded investors with a $52.90 (30.13%) gain with earnings of $62.9 million, 77 cents per share, compared with $8 million, or 12 cents per share, in the year-ago quarter. The rally continued in after market trading with additional gains. Revenues for the fiscal year ended December 29, 2007 were $504.0 million, up from $135.0 million in fiscal year 2006.
According to the company's press release, quoting Michael J. Ahearn, Chief Executive Officer of First Solar, "During the fourth quarter of 2007 we benefited from the full capacity and economies of scale of our Frankfurt/Oder plant. This combined with continued throughput and conversion efficiency gains afforded us strong operating leverage and decreased our manufacturing cost per watt by 12% year over year to $1.12 per watt in the fourth quarter of 2007, further solidifying our cost leadership position in the industry."
Clear Skies Solar, Inc. (OTC BB:CSKH.OB ) had a daily gain of 5.71%. According to Ezra Green, “FSLR earnings are further proof that the Solar sector is viable AND here to stay. We at CSKH are committed to the growth of solar energy by introducing new technologies and innovative methods of integrating solar technology into every sector of the commercial & industrial arena, we applaud their success."
Akeena Solar Inc. (Market, News ) closed up 5.56%.
Evergreen Solar Inc (Market, News) shares were up 1.23 (12.17%) and another 2.20% in after market trading.
LDK Solar ADR (Market, News) had gains of $2.12 (6.32%).
Canadian Solar Inc. (Market, News) radiated, up $2.60 (12.87%).
China Sunergy Company Ltd. (Market, News) was another bright star up 6.87%.
SunPower Corporation (Market, News ) followed the pack with an $8.82 (12.37%) gain.
Yingli Green Energy Holding Company Limited (Market, News) rallied up 16.6 %.
"The solar industry is well on its way towards attaining a significant presence within the broader electric power industry, and as evidenced by the rise in reported revenues by solar manufacturers, is poised for continued strong growth over the foreseeable future," stated Tom Djokovich, CEO of XsunX, Inc.(OTCBB:XSNX). "Grid parity, supported by a global drive to reduce green house gases, government incentives, and aggressive corporate cost-cutting plans, should be attained within five years and drive further impressive solar growth. In my opinion the sky's the limit for solar's future. We're very excited about leveraging our experience with amorphous thin-films to build and operate a module manufacturing facility and begin delivering much needed product into this market in early 2009," concluded Djokovich.
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
Investorideas.com and RenewableEnergyStocks.com will be hosting an online investor conference, March 21, 2008, giving investors free online access to industry and investing perspective in the greentech sector.
Solar companies Akeena Solar(NASDAQ:AKNS), Clear Skies Group Inc (OTCBB: CSKH) and XsunX:(OTCBB: XSNX) will present in the company of some of the leading experts in the industry. Conference Info: http://www.investorideas.com/Forums/Portals/Green2.aspx
Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTC BB:CSKH.OB ) through its wholly owned subsidiary, Clear Skies Group, Inc., provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSG was incorporated in 2003 and launched formal operations in 2005. During that time period, CSG developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSG has become one of the premier solar electric installation companies in the country. More info can be found on the Investorideas.com Company Showcase, or the company website at www.clearskiesgroup.com.
Featured Showcase Solar Company XsunX: (OTCBB: XSNX) Based in Aliso Viejo, Calif., XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi- megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. More info on XsunX, Inc. can be found on our media profile at: http://www.investorideas.com/co/xsnx/default.asp or http://www.xsunx.com/
About Our Green Investor Portals:
www.RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, and a directory of stocks within the renewable energy, clean tech and fuel cell sectors.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. XsunX and Clear Skies Holdings compensate the website $5000 per month.
www.InvestorIdeas.com/About/Disclaimer.asp
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com,
Source: RenewableEnergyStocks.com, XsunX, Clear Skies Holdings, Inc
Wednesday, February 13, 2008
First Solar, Inc. Announces 2007 Fourth Quarter and Year-end Financial Results
First Solar, Inc. Announces 2007 Fourth Quarter and Year-end Financial Results
PHOENIX, Feb. 13, 2008 -- First Solar, Inc. (NasdaqGS:FSLR )today announced its financial results for the fourth quarter and fiscal year ended, December 29, 2007. Quarterly revenues were $200.8 million, up from $159.0 million in the third quarter of fiscal 2007 and up from $52.7 million in the fourth quarter of fiscal 2006. Revenues for the fiscal year ended December 29, 2007 were $504.0 million, up from $135.0 million in fiscal year 2006. Net income for the fourth quarter of fiscal 2007 was $62.9 million or $0.77 per share on a fully diluted basis, compared to net income of $46.0 million or $0.58 per share on a fully diluted basis for the third quarter of fiscal 2007. Net income for the third quarter of fiscal 2007 included a one time tax benefit of $7.5 million, or $0.09 per fully diluted share due to the reversal of valuation allowances against previously established deferred tax assets in Germany. Net income for the fourth quarter of fiscal 2006 was $8.0 million or $0.11 per share on a fully diluted pro-forma basis.
Net income for fiscal 2007 was $158.4 million or $2.03 per share on a fully diluted basis compared to net income of $4.0 million for fiscal 2006 or $0.05 per share on a fully diluted pro-forma basis.
Pro-forma earnings per share for the three months and fiscal year ended, December 30, 2006, have been adjusted to give effect to the Company's equity offerings during 2006, including its initial public offering, as if each occurred on January 1, 2006. The Company believes the pro-forma earnings per share presentation represents a meaningful basis for the comparison of its current results to results during fiscal periods occurring prior to the Company's initial public offering.
``During the fourth quarter of 2007 we benefited from the full capacity and economies of scale of our Frankfurt/Oder plant. This combined with continued throughput and conversion efficiency gains afforded us strong operating leverage and decreased our manufacturing cost per watt by 12% year over year to $1.12 per watt in the fourth quarter of 2007, further solidifying our cost leadership position in the industry,'' said Michael J. Ahearn, Chief Executive Officer of First Solar.
First Solar will discuss these results and expected results for fiscal 2007 and 2008 in a conference call scheduled for today at 6:00 a.m. MST (8:00 a.m. EST). To participate in the conference call, please dial 800-896-8445 or 785-830-1916. Investors may also access a live audio web cast of this conference call in the Investors section of the Company's website at http://www.firstsolar.com. An audio replay of the conference call will be available approximately two hours after the conclusion of the call. The audio replay will remain available until Saturday, February 16, 2008 at 8:00 a.m. MST (10:00 a.m. EST) and can be accessed by dialing 888-203-1112 or 719-457-0820 and entering access ID number 9023734.
About First Solar:
First Solar, Inc. (NasdaqGS:FSLR - News) manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs. By enabling clean renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints.
For First Solar Investors:
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships, and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
FIRST SOLAR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited)
Three Months Ended Twelve Months Ended ------------------ ------------------- Dec. 29, Dec. 30, Dec. 29, Dec. 30, 2007 2006 2007 2006 -------- -------- -------- -------- Net sales $200,797 $ 52,695 $503,976 $134,974 Cost of sales 89,847 27,080 252,573 80,730 -------- -------- -------- -------- Gross profit 110,950 25,615 251,403 54,244 -------- -------- -------- -------- Operating expenses: Research and development 4,432 1,649 15,107 6,361 Selling, general and administrative 24,191 10,950 82,248 33,348 Production start-up 4,065 3,975 16,867 11,725 -------- -------- -------- -------- Total operating expenses 32,688 16,574 114,222 51,434 -------- -------- -------- -------- Operating income 78,262 9,041 137,181 2,810 Foreign currency gain 1,165 2,752 1,881 5,544 Interest income 7,214 1,755 20,413 2,648 Interest expense, net (163) (157) (2,294) (1,023) Other expense (338) (328) (1,219) (799) -------- -------- -------- -------- Income before income taxes 86,140 13,063 155,962 9,180 Income tax benefit (expense) (23,266) (5,025) 2,392 (5,206) -------- -------- -------- -------- Net income $ 62,874 $ 8,038 $158,354 $ 3,974 ======== ======== ======== ======== Net income per share: Basic $ 0.80 $ 0.13 $ 2.12 $ 0.07 ======== ======== ======== ======== Diluted $ 0.77 $ 0.12 $ 2.03 $ 0.07 ======== ======== ======== ======== Weighted-average number of shares used in per share calculations: Basic 78,192 63,968 74,701 56,310 ======== ======== ======== ======== Diluted 81,318 66,324 77,971 58,255 ======== ======== ======== ========
FIRST SOLAR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited) December 29, December 30, 2007 2006 ------------ ------------ ASSETS Current assets: Cash and cash equivalents $ 404,264 $ 308,092 Marketable securities - current 232,686 323 Accounts receivable, net 18,165 27,123 Inventories 40,204 16,510 Deferred project costs 2,643 -- Economic development funding receivable 35,877 27,515 Deferred tax asset, net - current 3,890 -- Prepaid expenses and other current assets 64,780 8,959 ------------ ------------ Total current assets 802,509 388,522 Property, plant and equipment, net 430,104 178,868 Deferred tax asset, net - noncurrent 51,811 -- Marketable securities - noncurrent 32,713 -- Restricted investments 14,695 8,224 Goodwill 33,449 -- Other assets - noncurrent 6,031 2,896 ------------ ------------ Total assets $ 1,371,312 $ 578,510 ============ =============
LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 132,366 $ 32,083 Short-term debt 24,473 16,339 Current portion of long-term debt 14,836 3,311 Other current liabilities 14,803 340 ------------ ------------ Total current liabilities 186,478 52,073 Accrued collection and recycling liabilities 13,079 3,724 Long-term debt 68,856 61,047 Other liabilities - noncurrent 5,632 -- ------------ ------------ Total liabilities 274,045 116,844 Commitments and contingencies: Employee stock options on redeemable shares -- 50,226 Stockholders' equity: Common stock, $0.001 par value per share; 500,000,000 shares authorized; 78,575,211 shares issued and outstanding at December 29, 2007 79 72 Additional paid-in capital 1,079,775 555,749 Accumulated earnings (deficit) 12,895 (145,403) Accumulated other comprehensive income 4,518 1,022 ------------ ------------ Total stockholders' equity 1,097,267 411,440 ------------ ------------ Total liabilities and stockholders' equity $ 1,371,312 $ 578,510 ============ ============
FIRST SOLAR, INC.
PRO-FORMA vs. GAAP EARNINGS PER SHARE
(in thousands, except per share data)
A reconciliation of the denominator used in calculating pro-forma fully diluted earnings per share is as follows:
Three Months Ended Fiscal Years Ended ---------------------------- ------------------ Dec. 29, Sept. 29, Dec. 30, Dec. 29, Dec. 30, 2007 2007 2006 2007 2006 ---------------------------- ------------------ (Unaudited) (Unaudited)
Net income $ 62,874 $ 46,034 $ 8,038 $158,354 $ 3,974
Weighted-average shares outstanding, diluted 81,318 79,088 66,324 77,971 58,255
Adjustment to reflect the IPO shares as if they had been outstanding since the beginning of 2006 -- -- 8,363 -- 14,236
Pro-forma weighted- average shares outstanding, diluted 81,318 79,088 74,687 77,971 72,491
Net income per share diluted as reported $ 0.77 $ 0.58 $ 0.12 $ 2.03 $ 0.07
Net income per share diluted pro-forma $ 0.77 $ 0.58 $ 0.11 $ 2.03 $ 0.05
Contact: First Solar, Inc. Jens Meyerhoff, Chief Financial Officer (602) 414 - 9315 investor@firstsolar.com
Sapphire Investor Relations, LLC Investor Relations Erica Mannion (212) 766 - 1800 investor@firstsolar.com
Source: First Solar, Inc.
PHOENIX, Feb. 13, 2008 -- First Solar, Inc. (NasdaqGS:FSLR )today announced its financial results for the fourth quarter and fiscal year ended, December 29, 2007. Quarterly revenues were $200.8 million, up from $159.0 million in the third quarter of fiscal 2007 and up from $52.7 million in the fourth quarter of fiscal 2006. Revenues for the fiscal year ended December 29, 2007 were $504.0 million, up from $135.0 million in fiscal year 2006. Net income for the fourth quarter of fiscal 2007 was $62.9 million or $0.77 per share on a fully diluted basis, compared to net income of $46.0 million or $0.58 per share on a fully diluted basis for the third quarter of fiscal 2007. Net income for the third quarter of fiscal 2007 included a one time tax benefit of $7.5 million, or $0.09 per fully diluted share due to the reversal of valuation allowances against previously established deferred tax assets in Germany. Net income for the fourth quarter of fiscal 2006 was $8.0 million or $0.11 per share on a fully diluted pro-forma basis.
Net income for fiscal 2007 was $158.4 million or $2.03 per share on a fully diluted basis compared to net income of $4.0 million for fiscal 2006 or $0.05 per share on a fully diluted pro-forma basis.
Pro-forma earnings per share for the three months and fiscal year ended, December 30, 2006, have been adjusted to give effect to the Company's equity offerings during 2006, including its initial public offering, as if each occurred on January 1, 2006. The Company believes the pro-forma earnings per share presentation represents a meaningful basis for the comparison of its current results to results during fiscal periods occurring prior to the Company's initial public offering.
``During the fourth quarter of 2007 we benefited from the full capacity and economies of scale of our Frankfurt/Oder plant. This combined with continued throughput and conversion efficiency gains afforded us strong operating leverage and decreased our manufacturing cost per watt by 12% year over year to $1.12 per watt in the fourth quarter of 2007, further solidifying our cost leadership position in the industry,'' said Michael J. Ahearn, Chief Executive Officer of First Solar.
First Solar will discuss these results and expected results for fiscal 2007 and 2008 in a conference call scheduled for today at 6:00 a.m. MST (8:00 a.m. EST). To participate in the conference call, please dial 800-896-8445 or 785-830-1916. Investors may also access a live audio web cast of this conference call in the Investors section of the Company's website at http://www.firstsolar.com. An audio replay of the conference call will be available approximately two hours after the conclusion of the call. The audio replay will remain available until Saturday, February 16, 2008 at 8:00 a.m. MST (10:00 a.m. EST) and can be accessed by dialing 888-203-1112 or 719-457-0820 and entering access ID number 9023734.
About First Solar:
First Solar, Inc. (NasdaqGS:FSLR - News) manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs. By enabling clean renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints.
For First Solar Investors:
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships, and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
FIRST SOLAR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited)
Three Months Ended Twelve Months Ended ------------------ ------------------- Dec. 29, Dec. 30, Dec. 29, Dec. 30, 2007 2006 2007 2006 -------- -------- -------- -------- Net sales $200,797 $ 52,695 $503,976 $134,974 Cost of sales 89,847 27,080 252,573 80,730 -------- -------- -------- -------- Gross profit 110,950 25,615 251,403 54,244 -------- -------- -------- -------- Operating expenses: Research and development 4,432 1,649 15,107 6,361 Selling, general and administrative 24,191 10,950 82,248 33,348 Production start-up 4,065 3,975 16,867 11,725 -------- -------- -------- -------- Total operating expenses 32,688 16,574 114,222 51,434 -------- -------- -------- -------- Operating income 78,262 9,041 137,181 2,810 Foreign currency gain 1,165 2,752 1,881 5,544 Interest income 7,214 1,755 20,413 2,648 Interest expense, net (163) (157) (2,294) (1,023) Other expense (338) (328) (1,219) (799) -------- -------- -------- -------- Income before income taxes 86,140 13,063 155,962 9,180 Income tax benefit (expense) (23,266) (5,025) 2,392 (5,206) -------- -------- -------- -------- Net income $ 62,874 $ 8,038 $158,354 $ 3,974 ======== ======== ======== ======== Net income per share: Basic $ 0.80 $ 0.13 $ 2.12 $ 0.07 ======== ======== ======== ======== Diluted $ 0.77 $ 0.12 $ 2.03 $ 0.07 ======== ======== ======== ======== Weighted-average number of shares used in per share calculations: Basic 78,192 63,968 74,701 56,310 ======== ======== ======== ======== Diluted 81,318 66,324 77,971 58,255 ======== ======== ======== ========
FIRST SOLAR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited) December 29, December 30, 2007 2006 ------------ ------------ ASSETS Current assets: Cash and cash equivalents $ 404,264 $ 308,092 Marketable securities - current 232,686 323 Accounts receivable, net 18,165 27,123 Inventories 40,204 16,510 Deferred project costs 2,643 -- Economic development funding receivable 35,877 27,515 Deferred tax asset, net - current 3,890 -- Prepaid expenses and other current assets 64,780 8,959 ------------ ------------ Total current assets 802,509 388,522 Property, plant and equipment, net 430,104 178,868 Deferred tax asset, net - noncurrent 51,811 -- Marketable securities - noncurrent 32,713 -- Restricted investments 14,695 8,224 Goodwill 33,449 -- Other assets - noncurrent 6,031 2,896 ------------ ------------ Total assets $ 1,371,312 $ 578,510 ============ =============
LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 132,366 $ 32,083 Short-term debt 24,473 16,339 Current portion of long-term debt 14,836 3,311 Other current liabilities 14,803 340 ------------ ------------ Total current liabilities 186,478 52,073 Accrued collection and recycling liabilities 13,079 3,724 Long-term debt 68,856 61,047 Other liabilities - noncurrent 5,632 -- ------------ ------------ Total liabilities 274,045 116,844 Commitments and contingencies: Employee stock options on redeemable shares -- 50,226 Stockholders' equity: Common stock, $0.001 par value per share; 500,000,000 shares authorized; 78,575,211 shares issued and outstanding at December 29, 2007 79 72 Additional paid-in capital 1,079,775 555,749 Accumulated earnings (deficit) 12,895 (145,403) Accumulated other comprehensive income 4,518 1,022 ------------ ------------ Total stockholders' equity 1,097,267 411,440 ------------ ------------ Total liabilities and stockholders' equity $ 1,371,312 $ 578,510 ============ ============
FIRST SOLAR, INC.
PRO-FORMA vs. GAAP EARNINGS PER SHARE
(in thousands, except per share data)
A reconciliation of the denominator used in calculating pro-forma fully diluted earnings per share is as follows:
Three Months Ended Fiscal Years Ended ---------------------------- ------------------ Dec. 29, Sept. 29, Dec. 30, Dec. 29, Dec. 30, 2007 2007 2006 2007 2006 ---------------------------- ------------------ (Unaudited) (Unaudited)
Net income $ 62,874 $ 46,034 $ 8,038 $158,354 $ 3,974
Weighted-average shares outstanding, diluted 81,318 79,088 66,324 77,971 58,255
Adjustment to reflect the IPO shares as if they had been outstanding since the beginning of 2006 -- -- 8,363 -- 14,236
Pro-forma weighted- average shares outstanding, diluted 81,318 79,088 74,687 77,971 72,491
Net income per share diluted as reported $ 0.77 $ 0.58 $ 0.12 $ 2.03 $ 0.07
Net income per share diluted pro-forma $ 0.77 $ 0.58 $ 0.11 $ 2.03 $ 0.05
Contact: First Solar, Inc. Jens Meyerhoff, Chief Financial Officer (602) 414 - 9315 investor@firstsolar.com
Sapphire Investor Relations, LLC Investor Relations Erica Mannion (212) 766 - 1800 investor@firstsolar.com
Source: First Solar, Inc.
Tuesday, February 12, 2008
Keynotes Akeena Solar, Inc. and Yahoo!'s Director of Climate and Energy Strategy Present With Public Companies and Industry Leaders to Provide Insight
Online Greentech Investor Conference Presenters Include: Mary D. Nichols: Chairman, California Air Resources Board; Neil D. Berlant: Fund Manager of the PFW Water Fund; Robert Wilder: WilderHill Clean Energy Index and Well-Known Leaders in Finance and Industry
Keynotes Akeena Solar, Inc. and Yahoo!'s Director of Climate and Energy Strategy Present With Public Companies and Industry Leaders to Provide Insight Into Global Green Trends
POINT ROBERTS, WA and DELTA, BC---Feb 12, 2008 -- www.InvestorIdeas.com and Renewableenergystocks.com, global investor and industry Greentech portals, update the list of presenters for the 2008 Investorideas.com Global Greentech Online Investor Conference, March 21, 2008. The online conference themed: "Insight into Global Green Investing Trends and Opportunities in Solar, Wind, Biofuel, Green Transportation, and Water," proudly features some of the most well-respected industry leaders and investment minds in the sector today.
The online conference, free to investors, will include Audio and Media presentations from industry, government, venture capital, funds, indices and global publicly traded companies. Conference info: http://www.investorideas.com/Forums/Portals/Green2.aspx
Long-time environmentalist Mary D. Nichols, Chairman, California Air Resources Board, will be one of the presenting speakers. Mary D. Nichols, JD, was appointed Chair of the California Air Resources Board in July 2007, a post she held previously under Gov. Edmund H. Brown, Jr. from 1979 to 1983. At CARB she is responsible for implementing California's landmark greenhouse gas emissions legislation as well as setting air pollution standards for motor vehicles and fuels.
Other well-known industry presenters include: Neil D. Berlant: Fund Manager of the PFW Water Fund; Rafael Coven: Managing Partner, Cleantech Indices(TM); Neal M. Dikeman: Jane Capital Partners LLC; Peter C. Fusaro: Chairman, Global Change Associates; Joshua Levine: Editor, ChangeWave Investing and ChangeWave MicroCap Investor (www.Changewave.com); J. Peter Lynch: Solar Expert; Yeves Perez: CEO & CGO, Eco Investment Club (http://www.ecoinvestmentclub.com); Matthew Sant: Partner, Irell & Manella LLP; Robert Wilder: J.D., Ph.D., WilderHill Clean Energy Index (www.wildershares.com); Jamie Wimberly: CEO of Distributed Energy Financial Group (DEFG, www.defgllc.com); and Brian C. Yerger: Research Analyst, Jesup & Lamont Securities.
Keynote Participating Public Companies:
Yahoo! Inc.
Interview with Christina Page, Yahoo!'s Director of Climate and Energy
Strategy
Akeena Solar, Inc. (NasdaqCM:AKNS - News)
Barry Cinnamon, CEO, will discuss "The Path of Solar to Grid Parity an End
Users Perspective"
Additional Presenters; Featured Companies:
Clear Skies Solar, Inc. (OTC BB:CSKH.OB - News) through its wholly owned subsidiary, Clear Skies Group, Inc., provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSG was incorporated in 2003 and launched formal operations in 2005. During that time period, CSG developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSG has become one of the premier solar electric installation companies in the country. www.ClearSkiesGroup.com
XsunX, Inc. (OTC BB:XSNX.OB - News), based in Aliso Viejo, Calif., is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi-megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. www.XsunX.com
ZAP (OTC BB:ZAAP.OB - News) has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. www.ZapWorld.com
The in-depth online conference will be available March 21st, 2008, starting at 9:00 am EDT and archived 3-6 months thereafter. The conference format will consist of an audio presentation (average 15 minutes) with images in a slideshow presentation, in Flash format. The conference is free to online visitors with login registration.
About Our Green Investor Portals: Renewableenergystocks.com
Investorideas.com has four investor and industry research portals within the renewable energy, water, environment and fuel cells sectors, featuring news, articles, leading experts and financial columnists, audio interviews and Podcasts with leaders and innovators in Greentech, investor conferences, blogs, and a comprehensive global directory of publicly traded stocks.
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, the Middle East and Australia.
Disclaimer: 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. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Disclosure: Presenting public companies, other than featured companies which compensate Investorideas.com on a monthly basis, pay a one time fee of $1000 to present. For disclosure and disclaimer: www.InvestorIdeas.com/About/Disclaimer.asp
Contact:
For companies wanting to participate and more information contact:
Dawn Van Zant
800.665.0411
Email: Email Contact
Keynotes Akeena Solar, Inc. and Yahoo!'s Director of Climate and Energy Strategy Present With Public Companies and Industry Leaders to Provide Insight Into Global Green Trends
POINT ROBERTS, WA and DELTA, BC---Feb 12, 2008 -- www.InvestorIdeas.com and Renewableenergystocks.com, global investor and industry Greentech portals, update the list of presenters for the 2008 Investorideas.com Global Greentech Online Investor Conference, March 21, 2008. The online conference themed: "Insight into Global Green Investing Trends and Opportunities in Solar, Wind, Biofuel, Green Transportation, and Water," proudly features some of the most well-respected industry leaders and investment minds in the sector today.
The online conference, free to investors, will include Audio and Media presentations from industry, government, venture capital, funds, indices and global publicly traded companies. Conference info: http://www.investorideas.com/Forums/Portals/Green2.aspx
Long-time environmentalist Mary D. Nichols, Chairman, California Air Resources Board, will be one of the presenting speakers. Mary D. Nichols, JD, was appointed Chair of the California Air Resources Board in July 2007, a post she held previously under Gov. Edmund H. Brown, Jr. from 1979 to 1983. At CARB she is responsible for implementing California's landmark greenhouse gas emissions legislation as well as setting air pollution standards for motor vehicles and fuels.
Other well-known industry presenters include: Neil D. Berlant: Fund Manager of the PFW Water Fund; Rafael Coven: Managing Partner, Cleantech Indices(TM); Neal M. Dikeman: Jane Capital Partners LLC; Peter C. Fusaro: Chairman, Global Change Associates; Joshua Levine: Editor, ChangeWave Investing and ChangeWave MicroCap Investor (www.Changewave.com); J. Peter Lynch: Solar Expert; Yeves Perez: CEO & CGO, Eco Investment Club (http://www.ecoinvestmentclub.com); Matthew Sant: Partner, Irell & Manella LLP; Robert Wilder: J.D., Ph.D., WilderHill Clean Energy Index (www.wildershares.com); Jamie Wimberly: CEO of Distributed Energy Financial Group (DEFG, www.defgllc.com); and Brian C. Yerger: Research Analyst, Jesup & Lamont Securities.
Keynote Participating Public Companies:
Yahoo! Inc.
Interview with Christina Page, Yahoo!'s Director of Climate and Energy
Strategy
Akeena Solar, Inc. (NasdaqCM:AKNS - News)
Barry Cinnamon, CEO, will discuss "The Path of Solar to Grid Parity an End
Users Perspective"
Additional Presenters; Featured Companies:
Clear Skies Solar, Inc. (OTC BB:CSKH.OB - News) through its wholly owned subsidiary, Clear Skies Group, Inc., provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSG was incorporated in 2003 and launched formal operations in 2005. During that time period, CSG developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSG has become one of the premier solar electric installation companies in the country. www.ClearSkiesGroup.com
XsunX, Inc. (OTC BB:XSNX.OB - News), based in Aliso Viejo, Calif., is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi-megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. www.XsunX.com
ZAP (OTC BB:ZAAP.OB - News) has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. www.ZapWorld.com
The in-depth online conference will be available March 21st, 2008, starting at 9:00 am EDT and archived 3-6 months thereafter. The conference format will consist of an audio presentation (average 15 minutes) with images in a slideshow presentation, in Flash format. The conference is free to online visitors with login registration.
About Our Green Investor Portals: Renewableenergystocks.com
Investorideas.com has four investor and industry research portals within the renewable energy, water, environment and fuel cells sectors, featuring news, articles, leading experts and financial columnists, audio interviews and Podcasts with leaders and innovators in Greentech, investor conferences, blogs, and a comprehensive global directory of publicly traded stocks.
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, the Middle East and Australia.
Disclaimer: 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. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Disclosure: Presenting public companies, other than featured companies which compensate Investorideas.com on a monthly basis, pay a one time fee of $1000 to present. For disclosure and disclaimer: www.InvestorIdeas.com/About/Disclaimer.asp
Contact:
For companies wanting to participate and more information contact:
Dawn Van Zant
800.665.0411
Email: Email Contact
Monday, February 11, 2008
XsunX Provides Update on Oregon Manufacturing Facility
XsunX Provides Update on Oregon Manufacturing Facility
ALISO VIEJO, Calif., Feb. 11, 2007 - XsunX, Inc. (OTCBB: XSNX), provided an update on the status of their facility selection and preparation of manufacturing facilities in Oregon, US.
In preparation for the establishment of its manufacturing facility, XsunX has been engaged in a detailed search for the most appropriate facility available. "The downturn in the semi-conductor industry in Oregon a few years ago coupled with the current export of operations offshore by a number of companies has created opportunities to lease a suitable building as opposed to having to build one from the ground up," said XsunX COO Joe Grimes. The selection has been narrowed to a select few, and the Company is now engaged in lease negotiations. "Each of our finalist buildings provides us with existing infrastructure we can leverage to our benefit so we're now focused on securing appropriate lease terms. We hope to announce the location of our new home as soon as possible," added Mr. Grimes.
"As much as we have anticipated finalizing negotiations and securing a facility, time has actually worked to our benefit," stated XsunX CEO Tom Djokovich. "Several of the properties currently under consideration were not available when we began our search last fall. Our time line requires that we have a building secured by the end of March and we've been actively working to find the right building and deal as soon as possible. In the long run, I'm glad we have not had to rush our decision and settle for less than what we're looking for. It has turned out to be a benefit to our shareholders that we haven't had to pay for facilities we're not actually using yet."
The various components to the Company's manufacturing system are scheduled to begin arriving later this year. In preparation for the arrival of its systems, XsunX has planned to secure a manufacturing facility by the end of March, if not earlier, and begin facility improvements in the May/June period which it believes will provide ample time for improvements including electrical, gas, plumbing, and other systems to support its manufacturing lines.
For more information about XsunX, please visit www.XsunX.com.
Safe Harbor Statement: Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
XsunX, Inc. is a featured Company on RenewableEnergyStocks.com For full details, click here: http://www.renewableenergystocks.com/CO/XSNX/Default.asp Source: XsunX, Inc.
ALISO VIEJO, Calif., Feb. 11, 2007 - XsunX, Inc. (OTCBB: XSNX), provided an update on the status of their facility selection and preparation of manufacturing facilities in Oregon, US.
In preparation for the establishment of its manufacturing facility, XsunX has been engaged in a detailed search for the most appropriate facility available. "The downturn in the semi-conductor industry in Oregon a few years ago coupled with the current export of operations offshore by a number of companies has created opportunities to lease a suitable building as opposed to having to build one from the ground up," said XsunX COO Joe Grimes. The selection has been narrowed to a select few, and the Company is now engaged in lease negotiations. "Each of our finalist buildings provides us with existing infrastructure we can leverage to our benefit so we're now focused on securing appropriate lease terms. We hope to announce the location of our new home as soon as possible," added Mr. Grimes.
"As much as we have anticipated finalizing negotiations and securing a facility, time has actually worked to our benefit," stated XsunX CEO Tom Djokovich. "Several of the properties currently under consideration were not available when we began our search last fall. Our time line requires that we have a building secured by the end of March and we've been actively working to find the right building and deal as soon as possible. In the long run, I'm glad we have not had to rush our decision and settle for less than what we're looking for. It has turned out to be a benefit to our shareholders that we haven't had to pay for facilities we're not actually using yet."
The various components to the Company's manufacturing system are scheduled to begin arriving later this year. In preparation for the arrival of its systems, XsunX has planned to secure a manufacturing facility by the end of March, if not earlier, and begin facility improvements in the May/June period which it believes will provide ample time for improvements including electrical, gas, plumbing, and other systems to support its manufacturing lines.
For more information about XsunX, please visit www.XsunX.com.
Safe Harbor Statement: Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
XsunX, Inc. is a featured Company on RenewableEnergyStocks.com For full details, click here: http://www.renewableenergystocks.com/CO/XSNX/Default.asp Source: XsunX, Inc.
Friday, February 08, 2008
LDK Solar Receives Basic Engineering Phase Package from CDI Engineering for TCS Manufacturing Facilities in Xinyu City, PRC
LDK Solar Receives Basic Engineering Phase Package from CDI Engineering for TCS Manufacturing Facilities in Xinyu City, PRC
XINYU CITY, China and SUNNYVALE, Calif., Feb. 8, 2008 -- LDK Solar Co., Ltd. (NYSE: LDK ), a leading manufacturer of multicrystalline solar wafers, has received the completed Basic Engineering Phase (BEP) package for its Trichlorosilane (TCS) plant at its Xinyu, Jiangxi site from CDI Engineering Solutions, a division of engineering outsourcing leader CDI Corp (NYSE: CDI ).
The BEP defines the parameters of the plant design and is used to prepare detailed construction drawings. Completion of the TCS BEP package on schedule supports the company's publicly announced plans to complete construction and reach a production capacity of up to 6,000 metric tons of polysilicon by the end of 2008 and 15,000 metric tons by the end of 2009.
"Completion of the BEP by CDI Engineering on-time and on-budget is an important milestone to reach in the construction of our poly plant as we move forward with our plans to establish in-house polysilicon production," said Mr. Nick Sarno, Senior Vice President of manufacturing. "CDI Engineering performed admirably and met its contractual commitments to LDK's fullest satisfaction."
"We are excited about the successful completion of this significant project," said, Keith Landry, Vice President, Global Project Development. "Not only are we proud of our team's performance in meeting LDK's schedule, but we are also pleased to contribute to a process that will help meet the growing global demand for clean solar energy."
About LDK Solar
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. The company's office in the United States is located in Sunnyvale, California.
About CDI Engineering Solutions
CDI Engineering Solutions is a provider of high-value engineering outsourcing, project management and professional services to clients in the process & industrial, aerospace, life sciences, and government services sectors. CDI Engineering Solutions is a division of Philadelphia-based CDI (NYSE: CDI - News), a leading provider of engineering and information technology outsourcing solutions.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. These statements are based upon information available to LDK's management as of the date hereof. Actual results may differ materially from the anticipated results because of certain risks and uncertainties. The press release also contains forward looking statements about the progress of LDK's construction of its polysilicon plant. These statements are based on information available to LDK's management today. Actual results may differ, including various factors which may delay or disrupt the plant's construction and completion, including, poor weather, the risk of labor difficulties, construction difficulties or financing difficulties.
The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Source: LDK Solar Co., Ltd.
XINYU CITY, China and SUNNYVALE, Calif., Feb. 8, 2008 -- LDK Solar Co., Ltd. (NYSE: LDK ), a leading manufacturer of multicrystalline solar wafers, has received the completed Basic Engineering Phase (BEP) package for its Trichlorosilane (TCS) plant at its Xinyu, Jiangxi site from CDI Engineering Solutions, a division of engineering outsourcing leader CDI Corp (NYSE: CDI ).
The BEP defines the parameters of the plant design and is used to prepare detailed construction drawings. Completion of the TCS BEP package on schedule supports the company's publicly announced plans to complete construction and reach a production capacity of up to 6,000 metric tons of polysilicon by the end of 2008 and 15,000 metric tons by the end of 2009.
"Completion of the BEP by CDI Engineering on-time and on-budget is an important milestone to reach in the construction of our poly plant as we move forward with our plans to establish in-house polysilicon production," said Mr. Nick Sarno, Senior Vice President of manufacturing. "CDI Engineering performed admirably and met its contractual commitments to LDK's fullest satisfaction."
"We are excited about the successful completion of this significant project," said, Keith Landry, Vice President, Global Project Development. "Not only are we proud of our team's performance in meeting LDK's schedule, but we are also pleased to contribute to a process that will help meet the growing global demand for clean solar energy."
About LDK Solar
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. The company's office in the United States is located in Sunnyvale, California.
About CDI Engineering Solutions
CDI Engineering Solutions is a provider of high-value engineering outsourcing, project management and professional services to clients in the process & industrial, aerospace, life sciences, and government services sectors. CDI Engineering Solutions is a division of Philadelphia-based CDI (NYSE: CDI - News), a leading provider of engineering and information technology outsourcing solutions.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. These statements are based upon information available to LDK's management as of the date hereof. Actual results may differ materially from the anticipated results because of certain risks and uncertainties. The press release also contains forward looking statements about the progress of LDK's construction of its polysilicon plant. These statements are based on information available to LDK's management today. Actual results may differ, including various factors which may delay or disrupt the plant's construction and completion, including, poor weather, the risk of labor difficulties, construction difficulties or financing difficulties.
The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Source: LDK Solar Co., Ltd.
Gaiam Announces Filing Form S1 for IPO of Its Solar Subsidiary
Gaiam Announces Filing Form S1 for IPO of Its Solar Subsidiary
BROOMFIELD, Colo., Feb. 7, 2008 -- Gaiam, Inc. (Nasdaq: GAIA ) announced today that it has determined that an initial public offering of a minority interest in Gaiam's Real Goods Solar subsidiary (currently 100% owned) would optimize Real Goods Solar's potential and create additional value for Gaiam shareholders. A registration statement has been filed with the Securities and Exchange Commission relating to a proposed initial public offering of shares of Real Goods Solar's Class A common stock. All shares to be sold in the offering will be offered by Real Goods Solar. ThinkEquity Partners LLC will be acting as the lead manager with Canaccord Adams Inc. and Broadpoint Capital, Inc. as co-managers. Real Goods Solar has reserved the Nasdaq ticker symbol "RSOL."
The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus may be obtained from ThinkEquity Partners LLC.
A registration statement relating to Real Goods Solar securities has been filed with the Securities and Exchange Commission but has not yet become effective. Securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Real Goods Solar is a leading residential solar energy integrator. Giving effect to recent acquisitions, Real Goods Solar ranks number one in California, which currently represents approximately two-thirds of the total U.S. market for grid-connected solar energy systems. Real Goods Solar offers turnkey services, including the design, procurement, installation, grid connection, monitoring, and maintenance of solar energy systems. Real Goods Solar has 30 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. Real Goods Solar's predecessors were acquired by Gaiam in 1999 and 2001.
Gaiam is a lifestyle media company providing information, media, products and services to customers who value personal development, wellness, ecological lifestyles, responsible media and conscious community.
For more information about Gaiam, please visit http://www.gaiam.com, or call 1-800-869-3603.
This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as "expect," "believe," "will," "should" or comparable terminology or by discussions of strategy. While Gaiam believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Gaiam's filings with the Securities and Exchange Commission. Gaiam assumes no duty to update any forward-looking statements.
Contact:
John Mills Senior Managing Director Integrated Corporate Relations, Inc. 310-954-1105 jmills@icrinc.com
Source: Gaiam, Inc
BROOMFIELD, Colo., Feb. 7, 2008 -- Gaiam, Inc. (Nasdaq: GAIA ) announced today that it has determined that an initial public offering of a minority interest in Gaiam's Real Goods Solar subsidiary (currently 100% owned) would optimize Real Goods Solar's potential and create additional value for Gaiam shareholders. A registration statement has been filed with the Securities and Exchange Commission relating to a proposed initial public offering of shares of Real Goods Solar's Class A common stock. All shares to be sold in the offering will be offered by Real Goods Solar. ThinkEquity Partners LLC will be acting as the lead manager with Canaccord Adams Inc. and Broadpoint Capital, Inc. as co-managers. Real Goods Solar has reserved the Nasdaq ticker symbol "RSOL."
The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus may be obtained from ThinkEquity Partners LLC.
A registration statement relating to Real Goods Solar securities has been filed with the Securities and Exchange Commission but has not yet become effective. Securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Real Goods Solar is a leading residential solar energy integrator. Giving effect to recent acquisitions, Real Goods Solar ranks number one in California, which currently represents approximately two-thirds of the total U.S. market for grid-connected solar energy systems. Real Goods Solar offers turnkey services, including the design, procurement, installation, grid connection, monitoring, and maintenance of solar energy systems. Real Goods Solar has 30 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. Real Goods Solar's predecessors were acquired by Gaiam in 1999 and 2001.
Gaiam is a lifestyle media company providing information, media, products and services to customers who value personal development, wellness, ecological lifestyles, responsible media and conscious community.
For more information about Gaiam, please visit http://www.gaiam.com, or call 1-800-869-3603.
This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as "expect," "believe," "will," "should" or comparable terminology or by discussions of strategy. While Gaiam believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Gaiam's filings with the Securities and Exchange Commission. Gaiam assumes no duty to update any forward-looking statements.
Contact:
John Mills Senior Managing Director Integrated Corporate Relations, Inc. 310-954-1105 jmills@icrinc.com
Source: Gaiam, Inc
Thursday, February 07, 2008
Detroit Electric Car to Return After 100 Years ZAP Alias(TM) to Carry Revived Detroit Electric Brand
Detroit Electric Car to Return After 100 Years ZAP Alias(TM) to Carry Revived Detroit Electric Brand
JINHUA, China and SANTA ROSA, Calif., Feb. 7, 2007 - In a joint announcement, US electric car pioneer ZAP (OTCBB: ZAAP) and China Youngman Automotive Group announced today they are reviving the 100- year-old electric car brand Detroit Electric for their automotive joint venture. Detroit Electric officials look forward to bringing new vehicle technologies to market by 2009, and beyond that the possibility of bringing new manufacturing and green collar jobs to California.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080207/AQTH095-a) (Photo: http://www.newscom.com/cgi-bin/prnh/20080207/AQTH095-b) (Logo: http://www.newscom.com/cgi-bin/prnh/20080207/AQTH095LOGO-c) (Logo: http://www.newscom.com/cgi-bin/prnh/20070130/SFTU060LOGO)
Detroit Electric plans to introduce its first electric cars and buses in 2009. The ZAP Alias, which is under development for the joint venture, will be one of several vehicles being planned to carry the Detroit Electric brand. ZAP is planning a presentation on Detroit Electric for North American auto dealers at NADA 2008, the world's largest auto show for dealers. Learn more about the National Automobile Dealers Association (NADA) annual meeting and exhibition, February 9-12, 2008 in San Francisco at http://expo.nada.org.
Detroit Electric was an early 20th Century electric car, perhaps the most popular in history. The Anderson Electric Car Company started building the cars under the Detroit Electric brand over 100 years ago. Anderson of Detroit, Michigan is the longest running electric car company in history, operating between 1907 and 1939. In its heyday, Detroit Electric was an American icon and the cars were very popular with customers like Thomas Edison, Charles Proteus Steinmetz, Henry Ford's Wife Clara, and John D. Rockefeller, Jr. Detroit Electric plans to build a special edition electric vehicle based on the original Detroit Electric as a tribute for the new name of the joint venture.
While joint venture officials are reviving the Detroit Electric brand, the first offices and facilities are planned, not for Detroit, but California. Management will be opening offices in California and evaluating manufacturing opportunities for economic development within the state.
"We see California as a launch pad. It is one of the most ready markets to adopt these new green vehicle solutions," said Detroit Electric Chairman Albert Lam. "The governor and his leadership here have created a fertile environment for us to create and grow. Many are talking about the future of the auto industry and Detroit Electric is a name that will speak to generations about the past and the future of automobiles."
A British national, Mr. Lam left his position as CEO of Lotus Engineering in October 2007 to pursue the new business opportunity with Detroit Electric. He was responsible for bringing Youngman, ZAP and Lotus Engineering together. Since 2003, Mr. Lam served as the CEO for Lotus Engineering as well as Executive Director for Lotus Group International (2003-2006). Mr. Lam has 20 years of relevant industrial experience serving companies like Jaguar, Land Rover, Ford and others. His experience spans across Automotive, Consultancy and IT of which 13 years was spent at senior management/leadership positions, including Managing Director for Apple Computer Asia and Sun Professional Services. Mr. Lam has experience with startup companies and a track record in growing and expanding businesses. He attended Coventry University in the UK where he earned a Masters of Science degree in robotics and manufacturing, and registered for a PhD program in Complex Knowledge Systems.
"Detroit Electric has already completed a five year business plan and mapped out the ten year product plan," said Mr. Lam. "It is our intention to introduce affordable and practical everyday electric vehicles, working with our technology partners to deliver some of the leading edge technology in motor drive, battery and hydrogen fuel cells. Our plan is to launch with a 12-meter pure electric transit bus, the ZAP Alias, and two family sedans as early as the summer of 2009. This is no longer a wish list but an eventuality; it is a matter of willingness to change."
Detroit Electric plans to build an array of cars, trucks and buses with the latest automotive technologies. The vehicles will be manufactured under the supervision of Youngman Automotive, one of China's newest automotive manufacturers and a leading manufacturer of buses and trucks. Youngman is a government-sanctioned, private holding company with 12 manufacturing subsidiaries. Youngman is expanding it manufacturing in China, which covers an area over four million square feet. Youngman employs 4,000 workers, including 700 in-house research and development staff. With seven new production facilities in process, Youngman expects to soon have the capacity to produce 200,000 vehicles per year, including more than 10,000 buses annually.
"We are proud to have a chance to re-build this great car name after 100 years," said Youngman Chairman Mr. Pang Qingnian.
ZAP will manage the sales, marketing and distribution of the joint venture products. ZAP is selling a full-line of electric vehicles through a growing number of dealerships in the United States. ZAP is also organizing international distribution for its current and future vehicles.
"Attitudes are changing around the world and in California I believe there is a growing awareness that environmental health and economic prosperity go hand-in-hand," said ZAP CEO Steve Schneider. "Green-collar jobs and innovative fuel efficient vehicles will be a win-win for California's environment and economy."
For more information about Detroit Electric, visit its website at http://www.detroit-electric.com.
About Youngman Automotive
Youngman recently introduced advanced manufacturing technology to its facilities in a joint venture with Neoplan of Germany. Youngman's manufacturing is based on the ISO9001 international standard of quality for its bus production. The manufacturing facility in China covers an area over four million square feet. Youngman employs 4000 workers, including 700 R&D staff. With seven production facilities in process, Youngman expects to soon have the capacity to produce 200,000 vehicles per year, including a capacity to build 10,000 buses annually. For more information about Youngman Automotive Group, visit http://www.youngman-bus.com.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. ZAP is developing a high- performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal. For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp Source: ZAP
JINHUA, China and SANTA ROSA, Calif., Feb. 7, 2007 - In a joint announcement, US electric car pioneer ZAP (OTCBB: ZAAP) and China Youngman Automotive Group announced today they are reviving the 100- year-old electric car brand Detroit Electric for their automotive joint venture. Detroit Electric officials look forward to bringing new vehicle technologies to market by 2009, and beyond that the possibility of bringing new manufacturing and green collar jobs to California.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080207/AQTH095-a) (Photo: http://www.newscom.com/cgi-bin/prnh/20080207/AQTH095-b) (Logo: http://www.newscom.com/cgi-bin/prnh/20080207/AQTH095LOGO-c) (Logo: http://www.newscom.com/cgi-bin/prnh/20070130/SFTU060LOGO)
Detroit Electric plans to introduce its first electric cars and buses in 2009. The ZAP Alias, which is under development for the joint venture, will be one of several vehicles being planned to carry the Detroit Electric brand. ZAP is planning a presentation on Detroit Electric for North American auto dealers at NADA 2008, the world's largest auto show for dealers. Learn more about the National Automobile Dealers Association (NADA) annual meeting and exhibition, February 9-12, 2008 in San Francisco at http://expo.nada.org.
Detroit Electric was an early 20th Century electric car, perhaps the most popular in history. The Anderson Electric Car Company started building the cars under the Detroit Electric brand over 100 years ago. Anderson of Detroit, Michigan is the longest running electric car company in history, operating between 1907 and 1939. In its heyday, Detroit Electric was an American icon and the cars were very popular with customers like Thomas Edison, Charles Proteus Steinmetz, Henry Ford's Wife Clara, and John D. Rockefeller, Jr. Detroit Electric plans to build a special edition electric vehicle based on the original Detroit Electric as a tribute for the new name of the joint venture.
While joint venture officials are reviving the Detroit Electric brand, the first offices and facilities are planned, not for Detroit, but California. Management will be opening offices in California and evaluating manufacturing opportunities for economic development within the state.
"We see California as a launch pad. It is one of the most ready markets to adopt these new green vehicle solutions," said Detroit Electric Chairman Albert Lam. "The governor and his leadership here have created a fertile environment for us to create and grow. Many are talking about the future of the auto industry and Detroit Electric is a name that will speak to generations about the past and the future of automobiles."
A British national, Mr. Lam left his position as CEO of Lotus Engineering in October 2007 to pursue the new business opportunity with Detroit Electric. He was responsible for bringing Youngman, ZAP and Lotus Engineering together. Since 2003, Mr. Lam served as the CEO for Lotus Engineering as well as Executive Director for Lotus Group International (2003-2006). Mr. Lam has 20 years of relevant industrial experience serving companies like Jaguar, Land Rover, Ford and others. His experience spans across Automotive, Consultancy and IT of which 13 years was spent at senior management/leadership positions, including Managing Director for Apple Computer Asia and Sun Professional Services. Mr. Lam has experience with startup companies and a track record in growing and expanding businesses. He attended Coventry University in the UK where he earned a Masters of Science degree in robotics and manufacturing, and registered for a PhD program in Complex Knowledge Systems.
"Detroit Electric has already completed a five year business plan and mapped out the ten year product plan," said Mr. Lam. "It is our intention to introduce affordable and practical everyday electric vehicles, working with our technology partners to deliver some of the leading edge technology in motor drive, battery and hydrogen fuel cells. Our plan is to launch with a 12-meter pure electric transit bus, the ZAP Alias, and two family sedans as early as the summer of 2009. This is no longer a wish list but an eventuality; it is a matter of willingness to change."
Detroit Electric plans to build an array of cars, trucks and buses with the latest automotive technologies. The vehicles will be manufactured under the supervision of Youngman Automotive, one of China's newest automotive manufacturers and a leading manufacturer of buses and trucks. Youngman is a government-sanctioned, private holding company with 12 manufacturing subsidiaries. Youngman is expanding it manufacturing in China, which covers an area over four million square feet. Youngman employs 4,000 workers, including 700 in-house research and development staff. With seven new production facilities in process, Youngman expects to soon have the capacity to produce 200,000 vehicles per year, including more than 10,000 buses annually.
"We are proud to have a chance to re-build this great car name after 100 years," said Youngman Chairman Mr. Pang Qingnian.
ZAP will manage the sales, marketing and distribution of the joint venture products. ZAP is selling a full-line of electric vehicles through a growing number of dealerships in the United States. ZAP is also organizing international distribution for its current and future vehicles.
"Attitudes are changing around the world and in California I believe there is a growing awareness that environmental health and economic prosperity go hand-in-hand," said ZAP CEO Steve Schneider. "Green-collar jobs and innovative fuel efficient vehicles will be a win-win for California's environment and economy."
For more information about Detroit Electric, visit its website at http://www.detroit-electric.com.
About Youngman Automotive
Youngman recently introduced advanced manufacturing technology to its facilities in a joint venture with Neoplan of Germany. Youngman's manufacturing is based on the ISO9001 international standard of quality for its bus production. The manufacturing facility in China covers an area over four million square feet. Youngman employs 4000 workers, including 700 R&D staff. With seven production facilities in process, Youngman expects to soon have the capacity to produce 200,000 vehicles per year, including a capacity to build 10,000 buses annually. For more information about Youngman Automotive Group, visit http://www.youngman-bus.com.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. ZAP is developing a high- performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal. For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp Source: ZAP
Wednesday, February 06, 2008
Rotoblock Advanced Engine Technology on Display at NADA 2008 in San Francisco
Rotoblock Advanced Engine Technology on Display at NADA 2008 in San Francisco
SAN FRANCISCO, Advanced engine developer Rotoblock (OTCBB: ROTB) will display its patented Oscillating Piston Engine (OPE) technology at NADA 2008, February 9-12, at San Francisco's Moscone Center, the largest convention for auto dealers in North America.
Rotoblock's patented OPE engine technology uses the principle of rotating opposing pistons in a rotary-style engine that reduces the weight and size of the engine while increasing the output. The engine represents advantages in power-to-weight ratio as well as energy efficiency being sought for fossil fueled vehicles. For more information, visit http://www.rotoblock.com.
Rotoblock Chief Executive Officer Mr. Chien Chih Liu will be on hand at NADA to discuss the most recent developments for the Oscillating Piston Engine. He is also scheduling meetings to collaborate on future development and implementation of the OPE with prospective partners.
The US produces approximately 35 million small engines annually that are sold and used in the US alone. These numbers do not include engines used as power sources in automobiles, aircraft, construction equipment, recreational vehicles, stationary applications and more. They also do not include small engines used outside the country.
The problems with standard small engines include: an inefficient weight to power ratio; cumbersome water cooling system which can lead to rust; complex friction movement causing frequent wear and tear; expensive and time consuming maintenance; not being adaptable to a variety of uses; and the release of a high percentage of toxic and carcinogenic emissions causing environmental damage.
Based on Rotoblock's experience as well as careful calculations and preliminary testing, the OPE was found to: be dramatically lighter, up to 50 percent depending on the application; significantly increase the power to weight ratio; be simpler to assemble, maintain and repair; require no valves and valve train; not require a water cooling system; and be adaptable to a wide variety of sizes and uses. In addition, because of its rotating intake/output design, the Rotoblock OPE releases significantly reduced emissions into the atmosphere even with regular fuels. The OPE is also highly adaptable for use with blended fuels or hydrogen which increases its environmental efficacy. For more information about Rotoblock's Oscillating Piston Technology, visit http://www.rotoblock.com.
The National Automobile Dealers Association (NADA) annual conference is the world's largest auto dealer gathering, representing over 20,000 auto dealerships. For more information, visit http://www.nada.org.
About Rotoblock
Rotoblock is focused on the development of leading-edge power train technologies including the development of its patented Oscillating Piston Engine technology. Rotoblock has signed a licensing agreement with OBVIO! Automotoveiculos S.A. of Brazil. The company was incorporated in Nevada and is headquartered in Santa Rosa, California. The Company has full rights to the patents of the Oscillating Piston Engine and believes the OPE technology has useful applications in an endless number of areas where its powerful, lightweight, efficient design are in ever-increasing demand. Visit Rotoblock's corporate website for details about the company, technology, and regulatory filings. The address is: http://www.rotoblock.com.
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Rotoblock Corporation has little or no control.
Rotoblock Corporation is a featured Company on RenewableEnergyStocks.com, EnvironmentStocks.com and IndiaStockMarket.com
For full details, click here: http://www.renewableenergystocks.com/CO/ROTB/Default.asp
Contact:
Rotoblock Corporation
Mr. Chien Chih Liu, 707-578-5220
liu.gene@rotoblock.com
Source: Rotoblock Corporation
SAN FRANCISCO, Advanced engine developer Rotoblock (OTCBB: ROTB) will display its patented Oscillating Piston Engine (OPE) technology at NADA 2008, February 9-12, at San Francisco's Moscone Center, the largest convention for auto dealers in North America.
Rotoblock's patented OPE engine technology uses the principle of rotating opposing pistons in a rotary-style engine that reduces the weight and size of the engine while increasing the output. The engine represents advantages in power-to-weight ratio as well as energy efficiency being sought for fossil fueled vehicles. For more information, visit http://www.rotoblock.com.
Rotoblock Chief Executive Officer Mr. Chien Chih Liu will be on hand at NADA to discuss the most recent developments for the Oscillating Piston Engine. He is also scheduling meetings to collaborate on future development and implementation of the OPE with prospective partners.
The US produces approximately 35 million small engines annually that are sold and used in the US alone. These numbers do not include engines used as power sources in automobiles, aircraft, construction equipment, recreational vehicles, stationary applications and more. They also do not include small engines used outside the country.
The problems with standard small engines include: an inefficient weight to power ratio; cumbersome water cooling system which can lead to rust; complex friction movement causing frequent wear and tear; expensive and time consuming maintenance; not being adaptable to a variety of uses; and the release of a high percentage of toxic and carcinogenic emissions causing environmental damage.
Based on Rotoblock's experience as well as careful calculations and preliminary testing, the OPE was found to: be dramatically lighter, up to 50 percent depending on the application; significantly increase the power to weight ratio; be simpler to assemble, maintain and repair; require no valves and valve train; not require a water cooling system; and be adaptable to a wide variety of sizes and uses. In addition, because of its rotating intake/output design, the Rotoblock OPE releases significantly reduced emissions into the atmosphere even with regular fuels. The OPE is also highly adaptable for use with blended fuels or hydrogen which increases its environmental efficacy. For more information about Rotoblock's Oscillating Piston Technology, visit http://www.rotoblock.com.
The National Automobile Dealers Association (NADA) annual conference is the world's largest auto dealer gathering, representing over 20,000 auto dealerships. For more information, visit http://www.nada.org.
About Rotoblock
Rotoblock is focused on the development of leading-edge power train technologies including the development of its patented Oscillating Piston Engine technology. Rotoblock has signed a licensing agreement with OBVIO! Automotoveiculos S.A. of Brazil. The company was incorporated in Nevada and is headquartered in Santa Rosa, California. The Company has full rights to the patents of the Oscillating Piston Engine and believes the OPE technology has useful applications in an endless number of areas where its powerful, lightweight, efficient design are in ever-increasing demand. Visit Rotoblock's corporate website for details about the company, technology, and regulatory filings. The address is: http://www.rotoblock.com.
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Rotoblock Corporation has little or no control.
Rotoblock Corporation is a featured Company on RenewableEnergyStocks.com, EnvironmentStocks.com and IndiaStockMarket.com
For full details, click here: http://www.renewableenergystocks.com/CO/ROTB/Default.asp
Contact:
Rotoblock Corporation
Mr. Chien Chih Liu, 707-578-5220
liu.gene@rotoblock.com
Source: Rotoblock Corporation
Tuesday, February 05, 2008
Update -Global Greentech Online Investor Conference
Update of Speakers and Participants- Register today !
Online Greentech Investor Conference - Live Online March 21, 2008 9:00 a.m. ET , Archived Minimum 3 months
The Investorideas.com Global Greentech Online Investor Conference
Insight Into Global Green Investing Trends and Opportunities in Solar, Wind, Biofuel, Green Transportation, Water and More...
Brought to you by our Green Investor Portals - www.RenewableEnergyStocks.com®, www.FuelCellCarNews.com®, www.EnvironmentStocks.com, www.Water-Stocks.com and www.GreentechInvestor.com
Investor Registration
The conference format will consist of an audio presentation (average 15 minutes) with images in a slideshow presentation, in flash format.
Pre-Register Today - Free Online Investor Registration : click here
Online Greentech Conference - Present Your Public Company Story with some of the Industry's best experts
For companies wanting to participate, click on the link for the contracts and fax back to 866-735-3518 Canadian Companies - click here US and Foreign Companies - click here
ContactDawn Van ZantToll free: 800-665-0411Email: dvanzant@investorideas.com
We make it easy for you to participate - we record your audio presentation over the phone and take your PDF or PowerPoint and put into our own unique flash player. We can record you anytime up to an including one week before the conference goes live. Our last 2 online conferences - we had over 50,000 visitors the first three days.
InvestorIdeas.com® Online Audio Investor Conferences are Eco - Friendly. Our Online Audio Conferences Featuring CEO's and Industry Experts have minimal carbon footprint with No Travel Required!
Presenting Greentech Industry , Government and Investment Experts - Hear what the experts have to say!
Neil D. BerlantFund Manager of the PFW Water FundSince 1968, Neil has been continuously involved in the investment banking industry, either as a principal, officer, or founder of several firms. He has supervised and initiated the publication of numerous investment research reports on the water industry and conducted conferences directed towards top corporate management, the investment community, and venture capitalists. He has been a speaker at conferences on topics ranging from financing, to business and investment opportunities in the water industry. In addition, he has consulted to Fortune 500 companies and participated in negotiations concerning mergers, acquisitions, and venture capital investments. He is quoted frequently in newspapers including the Wall Street Journal, The New York Times, Los Angeles Times, Investor's Business Daily, and is a frequent water expert on CNBC.
click here for more
Rafael CovenManaging Partner, Cleantech Indices™ Rafael Coven has an ideal combination of extensive cleantech industry and institutional investor experience. He has spent most of the last 23 years in cleantech as a manager, entrepreneur, equity investor, and management consultant.Rafael has global experience working with or consulting to such leading cleantech firms as Abengoa, Dynatech, Philips Lighting, Siemens, and numerous private equity and venture capital investors in the sector. During the 1990s, Rafael was an international equity analyst at Dietche & Field Advisors where he evaluated, made, and managed a $700 million segment of the firm's $5.6 billion equity holdings (including many cleantech companies). He has also founded three cleantech companies and still actively reviews numerous cleantech businesses. He has lived and worked in numerous countries and speaks Italian and Spanish.
click here for more
Neal M DikemanJane Capital Partners LLCNeal is one of the founding partners of Jane Capital Partners LLC, an energy and technology merchant bank whose clients have included the technology arms of multinational energy companies. He has launched several startups, including Carbonflow in carbon credit IT. He previously cofounded SC Power Systems, Inc. and its successor Zenergy Power plc (AIM:ZEN) in superconductor technology, helped launch WaiterPad POS Systems, Inc. in wireless hospitality POS solutions, and led the spin-out of Fideris, Inc. in fuel cell test & measurement. He has served as a director of several technology companies, edits the Cleantech Blog, named one of the 50 Best Business Blogs by London Times, and chairs Cleantech.org. Before entering private equity, he began his career in energy investment banking at Bankers Trust, and has a B.A. from Texas A&M University.
Peter C. FusaroChairman, Global Change AssociatesPeter C. Fusaro is Chairman of Global Change Associates in New York and is the best selling author of What Went Wrong at Enron and 12 other books on energy and the environment. Peter is an energy industry thought leader noted for his keen insights in emerging energy and environmental financial markets. He has been on the forefront of energy and environmental change for over 30 years focusing on oil, gas, power, coal, emissions, carbon trading and renewable energy markets. Peter is currently advising on carbon trading and clean energy technology arena to financial services companies. Peter was selected for Who’s Who in America for 2007 and 2008. He coined the term “Green Trading” and holds the Wall Street Green Trading Summit with Reuters in New York each spring. He is also a well known expert on Asia Pacific energy and environmental markets. He co-founded the Energy Hedge Fund Center LLC (www.energyhedgefunds.com) in 2004. Peter graduated with an MA in international relations from Tufts University and a BA from Carnegie-Mellon University.
Joshua LevineEditor, ChangeWave Investing and ChangeWave MicroCap InvestorMr. Levine has more than 20 years of experience researching technology trends and analyzing and investing in micro- and small-cap stocks. In 2002 he joined ChangeWave Research -- an independent investment research firm -- as a technology analyst. As the editor of two ChangeWave advisory services, he guides investors through the analytical process of stock selection and managing a high-performance growth portfolio. He also works closely with the ChangeWave Alliance, an intelligence network of 13,000 credentialed professionals, including CIOs, IT managers, executive management, scientists and engineers, from a broad cross section of 20 markets. Alternative Energy and Cleantech are two primary industries targeted by the Alliance's research activities. www.Changewave.com
J. Peter LynchSolar ExpertMr. J. Peter Lynch has worked, for 31 years as a Wall Street security analyst, an independent investment/merchant banker and private investor in small emerging technology companies. He has been actively involved in following developments in the renewable energy area since 1977 and is regarded as a leading expert in this field.He is one of the few people with a through understand of each of the critical areas involved: finance, the equity markets and the renewable energy industry. He was the contributing editor for 17 years to the Photovoltaic Insider Report, the leading publication in PV that was directed at industrial subscribers, such as major energy companies, utilities and governments around the world.He has been a speaker and presenter at numerous financial conferences on a variety of topics, including solar energy and solar energy related stocks. He is currently a private investor and financial/technology consultant to a number of companies. He can be reached via e-mail at: solarjpl@aol.com.
Yeves PerezCEO & CGO, Eco Investment ClubEco Investment Network International, Inc. (EINI) was founded in 2007 in order to achieve our mission, which is to support the progression of the Green Movement. It is evident that there has been an inevitable shift in social consciousness towards things that are Eco-friendly, Sustainable, or "Green". This new market has emerged in the business world, both nationally and internationally, and corresponding technological, economical, and political trends have indicated that this market will continue to grow at an unprecedented rate. This global shift in social consciousness has created a worldwide demand for "Green". http://www.ecoinvestmentclub.com
Matthew SantPartner, Irell & Manella LLPMatthew Sant is a partner at Irell & Manella LLP, and practices in the firm's Newport Beach, California office. Mr. Sant represents some of the most exciting and innovative companies in the global economy. Matthew Sant's practice focuses on the structure and negotiation of complex licensing, development and commercial transactions involving intellectual property assets and emerging technologies. His experience also includes debt and equity financing, mergers and acquisitions, and public and private corporate securities. Among his clients are several companies and funds exploring "green" technologies, including the developer of hybrid and electric vehicles, the developer of proprietary "waste to energy" technologies for producing biofuels, and a fund that has invested in solar and other renewable energy technologies. www.Irell.com.
click here for more
Robert Wilder, J.D., Ph.D.WilderHill Clean Energy IndexDr. Rob Wilder is Founder and the Manager of the WilderHill Clean Energy Index (ECO), the first and leading Index on Wall Street for renewables & clean solutions. The Index is tracked by a PowerShares WilderHill Clean Energy Portfolio (symbol PBW) which has grown to over $1.75 billion in assets within its first three years. www.wildershares.com
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Jamie Wimberly, CEODistributed Energy Financial Group (DEFG)Jamie Wimberly founded and currently serves as CEO of the Distributed Energy Financial Group (DEFG, www.defgllc.com), a holding company with three branded entities, including: DEFG LLC, EcoAlign, DEFG Ventures.
click here for more
Participating Public Companies
Keynote:
Yahoo! Inc.YHOOInterview with Christina Page, Yahoo!’s Director of Climate and Energy Strategy
Akeena Solar, Inc.NasdaqCM: AKNSBarry Cinnamon, CEO “The Path of Solar to Grid Parity an End Users Perspective” Barry Cinnamon, is a widely recognized expert and long-time advocate of solar power. He began his career in solar energy at the Massachusetts Institute of Technology (MIT). During the late 1970s and early 1980s, he designed and installed active solar, passive solar and ground coupled heat pump systems. He served as CEO of Software Publishing Corporation, and founded Allegro New Media. Mr. Cinnamon earned a BS Degree in Mechanical Engineering from MIT and an MBA degree in Marketing from Wharton. He is a NABCEP Certified Solar Installer, a licensed California C-46 Solar Contractor, an active member of the Silicon Valley Leadership Group and a member of the Board of Directors of the national Solar Energy Industries Association and California Solar Energy Industry Association.
Clear Skies Holdings(OTCBB: CSKH)Clear Skies Holdings ("CSG") delivers turnkey Solar Electricity Installations and Renewable Energy Technology Solutions to commercial and residential customers across the United States. Since its launch, Clear Skies Group has installed solar power systems for municipalities, real estate developers, agricultural locations, office and residential complexes, storage facilities, manufacturing plants, schools, and more. www.ClearSkiesGroup.com
XsunX, Inc.(OTCBB: XSNX)Based in Aliso Viejo, Calif., XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi-megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. www.XsunX.com
ZAP(OTCBB: ZAAP)ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. www.ZapWorld.com
Online Greentech Investor Conference - Live Online March 21, 2008 9:00 a.m. ET , Archived Minimum 3 months
The Investorideas.com Global Greentech Online Investor Conference
Insight Into Global Green Investing Trends and Opportunities in Solar, Wind, Biofuel, Green Transportation, Water and More...
Brought to you by our Green Investor Portals - www.RenewableEnergyStocks.com®, www.FuelCellCarNews.com®, www.EnvironmentStocks.com, www.Water-Stocks.com and www.GreentechInvestor.com
Investor Registration
The conference format will consist of an audio presentation (average 15 minutes) with images in a slideshow presentation, in flash format.
Pre-Register Today - Free Online Investor Registration : click here
Online Greentech Conference - Present Your Public Company Story with some of the Industry's best experts
For companies wanting to participate, click on the link for the contracts and fax back to 866-735-3518 Canadian Companies - click here US and Foreign Companies - click here
ContactDawn Van ZantToll free: 800-665-0411Email: dvanzant@investorideas.com
We make it easy for you to participate - we record your audio presentation over the phone and take your PDF or PowerPoint and put into our own unique flash player. We can record you anytime up to an including one week before the conference goes live. Our last 2 online conferences - we had over 50,000 visitors the first three days.
InvestorIdeas.com® Online Audio Investor Conferences are Eco - Friendly. Our Online Audio Conferences Featuring CEO's and Industry Experts have minimal carbon footprint with No Travel Required!
Presenting Greentech Industry , Government and Investment Experts - Hear what the experts have to say!
Neil D. BerlantFund Manager of the PFW Water FundSince 1968, Neil has been continuously involved in the investment banking industry, either as a principal, officer, or founder of several firms. He has supervised and initiated the publication of numerous investment research reports on the water industry and conducted conferences directed towards top corporate management, the investment community, and venture capitalists. He has been a speaker at conferences on topics ranging from financing, to business and investment opportunities in the water industry. In addition, he has consulted to Fortune 500 companies and participated in negotiations concerning mergers, acquisitions, and venture capital investments. He is quoted frequently in newspapers including the Wall Street Journal, The New York Times, Los Angeles Times, Investor's Business Daily, and is a frequent water expert on CNBC.
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Rafael CovenManaging Partner, Cleantech Indices™ Rafael Coven has an ideal combination of extensive cleantech industry and institutional investor experience. He has spent most of the last 23 years in cleantech as a manager, entrepreneur, equity investor, and management consultant.Rafael has global experience working with or consulting to such leading cleantech firms as Abengoa, Dynatech, Philips Lighting, Siemens, and numerous private equity and venture capital investors in the sector. During the 1990s, Rafael was an international equity analyst at Dietche & Field Advisors where he evaluated, made, and managed a $700 million segment of the firm's $5.6 billion equity holdings (including many cleantech companies). He has also founded three cleantech companies and still actively reviews numerous cleantech businesses. He has lived and worked in numerous countries and speaks Italian and Spanish.
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Neal M DikemanJane Capital Partners LLCNeal is one of the founding partners of Jane Capital Partners LLC, an energy and technology merchant bank whose clients have included the technology arms of multinational energy companies. He has launched several startups, including Carbonflow in carbon credit IT. He previously cofounded SC Power Systems, Inc. and its successor Zenergy Power plc (AIM:ZEN) in superconductor technology, helped launch WaiterPad POS Systems, Inc. in wireless hospitality POS solutions, and led the spin-out of Fideris, Inc. in fuel cell test & measurement. He has served as a director of several technology companies, edits the Cleantech Blog, named one of the 50 Best Business Blogs by London Times, and chairs Cleantech.org. Before entering private equity, he began his career in energy investment banking at Bankers Trust, and has a B.A. from Texas A&M University.
Peter C. FusaroChairman, Global Change AssociatesPeter C. Fusaro is Chairman of Global Change Associates in New York and is the best selling author of What Went Wrong at Enron and 12 other books on energy and the environment. Peter is an energy industry thought leader noted for his keen insights in emerging energy and environmental financial markets. He has been on the forefront of energy and environmental change for over 30 years focusing on oil, gas, power, coal, emissions, carbon trading and renewable energy markets. Peter is currently advising on carbon trading and clean energy technology arena to financial services companies. Peter was selected for Who’s Who in America for 2007 and 2008. He coined the term “Green Trading” and holds the Wall Street Green Trading Summit with Reuters in New York each spring. He is also a well known expert on Asia Pacific energy and environmental markets. He co-founded the Energy Hedge Fund Center LLC (www.energyhedgefunds.com) in 2004. Peter graduated with an MA in international relations from Tufts University and a BA from Carnegie-Mellon University.
Joshua LevineEditor, ChangeWave Investing and ChangeWave MicroCap InvestorMr. Levine has more than 20 years of experience researching technology trends and analyzing and investing in micro- and small-cap stocks. In 2002 he joined ChangeWave Research -- an independent investment research firm -- as a technology analyst. As the editor of two ChangeWave advisory services, he guides investors through the analytical process of stock selection and managing a high-performance growth portfolio. He also works closely with the ChangeWave Alliance, an intelligence network of 13,000 credentialed professionals, including CIOs, IT managers, executive management, scientists and engineers, from a broad cross section of 20 markets. Alternative Energy and Cleantech are two primary industries targeted by the Alliance's research activities. www.Changewave.com
J. Peter LynchSolar ExpertMr. J. Peter Lynch has worked, for 31 years as a Wall Street security analyst, an independent investment/merchant banker and private investor in small emerging technology companies. He has been actively involved in following developments in the renewable energy area since 1977 and is regarded as a leading expert in this field.He is one of the few people with a through understand of each of the critical areas involved: finance, the equity markets and the renewable energy industry. He was the contributing editor for 17 years to the Photovoltaic Insider Report, the leading publication in PV that was directed at industrial subscribers, such as major energy companies, utilities and governments around the world.He has been a speaker and presenter at numerous financial conferences on a variety of topics, including solar energy and solar energy related stocks. He is currently a private investor and financial/technology consultant to a number of companies. He can be reached via e-mail at: solarjpl@aol.com.
Yeves PerezCEO & CGO, Eco Investment ClubEco Investment Network International, Inc. (EINI) was founded in 2007 in order to achieve our mission, which is to support the progression of the Green Movement. It is evident that there has been an inevitable shift in social consciousness towards things that are Eco-friendly, Sustainable, or "Green". This new market has emerged in the business world, both nationally and internationally, and corresponding technological, economical, and political trends have indicated that this market will continue to grow at an unprecedented rate. This global shift in social consciousness has created a worldwide demand for "Green". http://www.ecoinvestmentclub.com
Matthew SantPartner, Irell & Manella LLPMatthew Sant is a partner at Irell & Manella LLP, and practices in the firm's Newport Beach, California office. Mr. Sant represents some of the most exciting and innovative companies in the global economy. Matthew Sant's practice focuses on the structure and negotiation of complex licensing, development and commercial transactions involving intellectual property assets and emerging technologies. His experience also includes debt and equity financing, mergers and acquisitions, and public and private corporate securities. Among his clients are several companies and funds exploring "green" technologies, including the developer of hybrid and electric vehicles, the developer of proprietary "waste to energy" technologies for producing biofuels, and a fund that has invested in solar and other renewable energy technologies. www.Irell.com.
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Robert Wilder, J.D., Ph.D.WilderHill Clean Energy IndexDr. Rob Wilder is Founder and the Manager of the WilderHill Clean Energy Index (ECO), the first and leading Index on Wall Street for renewables & clean solutions. The Index is tracked by a PowerShares WilderHill Clean Energy Portfolio (symbol PBW) which has grown to over $1.75 billion in assets within its first three years. www.wildershares.com
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Jamie Wimberly, CEODistributed Energy Financial Group (DEFG)Jamie Wimberly founded and currently serves as CEO of the Distributed Energy Financial Group (DEFG, www.defgllc.com), a holding company with three branded entities, including: DEFG LLC, EcoAlign, DEFG Ventures.
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Participating Public Companies
Keynote:
Yahoo! Inc.YHOOInterview with Christina Page, Yahoo!’s Director of Climate and Energy Strategy
Akeena Solar, Inc.NasdaqCM: AKNSBarry Cinnamon, CEO “The Path of Solar to Grid Parity an End Users Perspective” Barry Cinnamon, is a widely recognized expert and long-time advocate of solar power. He began his career in solar energy at the Massachusetts Institute of Technology (MIT). During the late 1970s and early 1980s, he designed and installed active solar, passive solar and ground coupled heat pump systems. He served as CEO of Software Publishing Corporation, and founded Allegro New Media. Mr. Cinnamon earned a BS Degree in Mechanical Engineering from MIT and an MBA degree in Marketing from Wharton. He is a NABCEP Certified Solar Installer, a licensed California C-46 Solar Contractor, an active member of the Silicon Valley Leadership Group and a member of the Board of Directors of the national Solar Energy Industries Association and California Solar Energy Industry Association.
Clear Skies Holdings(OTCBB: CSKH)Clear Skies Holdings ("CSG") delivers turnkey Solar Electricity Installations and Renewable Energy Technology Solutions to commercial and residential customers across the United States. Since its launch, Clear Skies Group has installed solar power systems for municipalities, real estate developers, agricultural locations, office and residential complexes, storage facilities, manufacturing plants, schools, and more. www.ClearSkiesGroup.com
XsunX, Inc.(OTCBB: XSNX)Based in Aliso Viejo, Calif., XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi-megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. www.XsunX.com
ZAP(OTCBB: ZAAP)ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. www.ZapWorld.com
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