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Investors can Share info on Solar Stocks, Wind Stocks, Biofuel Stocks, Geothermal Stocks, Green Automotive and More
POINT ROBERTS, WA and DELTA, BC—May 29, 2008 -- www.GreentechInvestor.com,
a leading business and investing hub for the greentech sector, originally launched for the Greentech Investor Contest, is now under development to offer business leaders and investors in the sector a new destination to read and share the latest news and updates.
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Thursday, May 29, 2008
Wednesday, May 28, 2008
XsunX Announces Agreement with Newport Corporation as Its Laser Subsystems Supplier
XsunX Announces Agreement with Newport Corporation as Its Laser Subsystems Supplier
Newport to Supply Key Laser Subsystems for the XsunX Solar Module Production Line
ALISO VIEJO, Calif., May 28 - XsunX, Inc. (OTCBB: XSNX), a solar technology company engaged in the build-out of its multi-megawatt solar module manufacturing facility, announced today that it has expanded its existing two-year relationship with Newport Corporation by selecting Newport as its preferred supplier for laser and motion subsystems for its integrated Thin Film Photovoltaic (PV) manufacturing line. These products are used to create monolithically interconnected cells on the solar panels and to laser scribe bar codes on the panels for quality control purposes.
Newport Corporation is a leading global supplier of advanced photonics technologies to customers in a wide range of industries. The company has developed innovative solutions for the automated manufacturing of solar cells that leverage its expertise in high-power lasers, precision positioning systems, vibration isolation and optical subsystems to enhance the speed and precision of the solar cell manufacturing process.
"We are pleased that XsunX has chosen us as their preferred supplier for lasers and precision motion subsystems, which play a key role in enabling high-precision, high-volume and low cost manufacture of thin film solar panels," stated Robert J. Phillippy, President and CEO of Newport. "We believe that XsunX's selection of Newport is a further validation of our ability to provide value-added solutions to our photovoltaic customers."
"Our relationship with Newport and their Spectra-Physics Lasers Division dates back to when they provided us with assistance in developing techniques for laser scribing of plastic substrates," stated Mr. Tom Djokovich, CEO of XsunX. "When XsunX migrated to designing a glass substrate module, Newport continued to provide support and problem solving expertise. Automating cell integration using lasers gives thin film an enormous economy of scale over crystalline. We are pleased to be working with a globally-recognized leader in the buildout of our multi-megawatt thin film photovoltaic solar manufacturing facility," concluded Djokovich.
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 XsunX, Inc. 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 XsunX, Inc. 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 XsunX, Inc.
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.
Newport to Supply Key Laser Subsystems for the XsunX Solar Module Production Line
ALISO VIEJO, Calif., May 28 - XsunX, Inc. (OTCBB: XSNX), a solar technology company engaged in the build-out of its multi-megawatt solar module manufacturing facility, announced today that it has expanded its existing two-year relationship with Newport Corporation by selecting Newport as its preferred supplier for laser and motion subsystems for its integrated Thin Film Photovoltaic (PV) manufacturing line. These products are used to create monolithically interconnected cells on the solar panels and to laser scribe bar codes on the panels for quality control purposes.
Newport Corporation is a leading global supplier of advanced photonics technologies to customers in a wide range of industries. The company has developed innovative solutions for the automated manufacturing of solar cells that leverage its expertise in high-power lasers, precision positioning systems, vibration isolation and optical subsystems to enhance the speed and precision of the solar cell manufacturing process.
"We are pleased that XsunX has chosen us as their preferred supplier for lasers and precision motion subsystems, which play a key role in enabling high-precision, high-volume and low cost manufacture of thin film solar panels," stated Robert J. Phillippy, President and CEO of Newport. "We believe that XsunX's selection of Newport is a further validation of our ability to provide value-added solutions to our photovoltaic customers."
"Our relationship with Newport and their Spectra-Physics Lasers Division dates back to when they provided us with assistance in developing techniques for laser scribing of plastic substrates," stated Mr. Tom Djokovich, CEO of XsunX. "When XsunX migrated to designing a glass substrate module, Newport continued to provide support and problem solving expertise. Automating cell integration using lasers gives thin film an enormous economy of scale over crystalline. We are pleased to be working with a globally-recognized leader in the buildout of our multi-megawatt thin film photovoltaic solar manufacturing facility," concluded Djokovich.
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 XsunX, Inc. 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 XsunX, Inc. 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 XsunX, Inc.
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.
Tuesday, May 27, 2008
Electric Car Firm ZAP Names New Chairman, Mr. Eqbal Al Yousuf of Dubai
Electric Car Firm ZAP Names New Chairman, Mr. Eqbal Al Yousuf of Dubai
SANTA ROSA, Calif. & DUBAI, United Arab Emirates--May 27 2008 --Electric car pioneer ZAP (OTCBB: ZAAP.OB) today named Mr. Eqbal Al Yousuf Chairman of the 13-year public Company. The effective date of his appointment will be June 2, the day of the next scheduled meeting for the board of directors.
Mr. Eqbal Al Yousuf is President of Dubai's Al Yousuf Group. He was appointed as the President of Al Yousuf Group in 2005. The Al Yousuf Group is a company that over the past 55 years has grown into a leading business conglomerate with operations ranging from Motor Vehicles, Boat Manufacturing, Auto Rental, Real Estate Development, Home Electrical Appliances, Computer Operating Systems, Electronics, Transportation and more. The Al Yousuf Group has proved to be one of the most reputed business groups in the UAE and is now working to become ISO certified in accordance with international standards of quality.
Chairman Emeritus and founder Gary Starr will continue his role with the Company and will remain on its board of directors. Starr co-founded the Company in 1994 and has been instrumental in its overall business development, R&D and product development.
"I feel the timing is right for this," said Starr, a 34-year veteran in electric transportation. "Mr. Eqbal told me that the most important technologies to invest in for the future were electric transportation and water purification. His vision and business experience are welcome just as ZAP begins its next growth phase."
Mr. Al Yousuf has been taking a greater interest in ZAP over the past year. In November, the Al Yousuf Group purchased US$5 million worth of ZAP shares. In December, he also joined ZAP's Board of Directors.
"My staff and I have researched the EV industry and have concluded that ZAP is one of the only pure-play public companies with viable electric vehicles in the marketplace at a time of record gas prices," said Mr. Al Yousuf. "I intend to use all my relationships and resources to ensure the Company will be successful and grow."
"Mr. Al Yousuf is a strong believer in alternative energy and conservation and really wants to make the world a better place," said ZAP CEO Steve Schneider. "He is taking a much stronger interest in the direction of the Company to ensure its ability to deliver vehicles on a global basis. With his relationships throughout the world, Mr. Al Yousuf believes he can make this dream become a reality."
Mr. Al Yousuf is actively involved with numerous social and environmental causes, both at a personal and business level. Mr. Al Yousuf has two Bachelors Degree, one in Computer Science and the other in Economics. He graduated from the University of Minnesota in May 1983. After he graduated he joined his father’s firm as Managing Director and in 1988 he was appointed as Deputy Chairman, Vice Chairman in 2001, and Chief Executive Officer in 2004. Eqbal Al Yousuf is married with four children and his interests include reading, travel and sea sports.
The Al Yousuf Group is involved in a multitude of industries under various subsidiaries. Al Yousuf Group has 18 subsidiaries with branch offices in Abu Dhabi, Al Ain, Cairo, Fujairah, Jeddah, Ras Al Khaimah, Riyadh, and Sharjah, according to The Middle East information resource Zawya (http://zawya.com/cm/profile.cfm/cid489977/).
Al-Yousuf Motors, a member of the Al-Yousuf family, is one of the leading distributors of automobiles and automotive related equipment in the Middle East. The Al Yousuf Group has developed partnerships with many of the world's renowned brand names in Asia, Europe and the USA. A number of these ventures have grown into long-term business relationships. Al Yousuf Motors' portfolio includes Daihatsu vehicles, Daewoo buses, Suzuki motorcycles and outboard engines, Yamaha motorcycles, outboard and marine engines, water vehicles, generators, boats etc.
More about Al Yousuf http://www.zapworld.com/al-yousuf-med.html
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
Vist the Renewable Energy Stocks Media showcase :
For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp
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, electric, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. ZAP is also developing a new generation of vehicles using lithium batteries. 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.
This press release contains forward-looking statements. 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.
ZAPAlex Campbell, 707-525-8658 x 241acampbell@zapworld.com
SANTA ROSA, Calif. & DUBAI, United Arab Emirates--May 27 2008 --Electric car pioneer ZAP (OTCBB: ZAAP.OB) today named Mr. Eqbal Al Yousuf Chairman of the 13-year public Company. The effective date of his appointment will be June 2, the day of the next scheduled meeting for the board of directors.
Mr. Eqbal Al Yousuf is President of Dubai's Al Yousuf Group. He was appointed as the President of Al Yousuf Group in 2005. The Al Yousuf Group is a company that over the past 55 years has grown into a leading business conglomerate with operations ranging from Motor Vehicles, Boat Manufacturing, Auto Rental, Real Estate Development, Home Electrical Appliances, Computer Operating Systems, Electronics, Transportation and more. The Al Yousuf Group has proved to be one of the most reputed business groups in the UAE and is now working to become ISO certified in accordance with international standards of quality.
Chairman Emeritus and founder Gary Starr will continue his role with the Company and will remain on its board of directors. Starr co-founded the Company in 1994 and has been instrumental in its overall business development, R&D and product development.
"I feel the timing is right for this," said Starr, a 34-year veteran in electric transportation. "Mr. Eqbal told me that the most important technologies to invest in for the future were electric transportation and water purification. His vision and business experience are welcome just as ZAP begins its next growth phase."
Mr. Al Yousuf has been taking a greater interest in ZAP over the past year. In November, the Al Yousuf Group purchased US$5 million worth of ZAP shares. In December, he also joined ZAP's Board of Directors.
"My staff and I have researched the EV industry and have concluded that ZAP is one of the only pure-play public companies with viable electric vehicles in the marketplace at a time of record gas prices," said Mr. Al Yousuf. "I intend to use all my relationships and resources to ensure the Company will be successful and grow."
"Mr. Al Yousuf is a strong believer in alternative energy and conservation and really wants to make the world a better place," said ZAP CEO Steve Schneider. "He is taking a much stronger interest in the direction of the Company to ensure its ability to deliver vehicles on a global basis. With his relationships throughout the world, Mr. Al Yousuf believes he can make this dream become a reality."
Mr. Al Yousuf is actively involved with numerous social and environmental causes, both at a personal and business level. Mr. Al Yousuf has two Bachelors Degree, one in Computer Science and the other in Economics. He graduated from the University of Minnesota in May 1983. After he graduated he joined his father’s firm as Managing Director and in 1988 he was appointed as Deputy Chairman, Vice Chairman in 2001, and Chief Executive Officer in 2004. Eqbal Al Yousuf is married with four children and his interests include reading, travel and sea sports.
The Al Yousuf Group is involved in a multitude of industries under various subsidiaries. Al Yousuf Group has 18 subsidiaries with branch offices in Abu Dhabi, Al Ain, Cairo, Fujairah, Jeddah, Ras Al Khaimah, Riyadh, and Sharjah, according to The Middle East information resource Zawya (http://zawya.com/cm/profile.cfm/cid489977/).
Al-Yousuf Motors, a member of the Al-Yousuf family, is one of the leading distributors of automobiles and automotive related equipment in the Middle East. The Al Yousuf Group has developed partnerships with many of the world's renowned brand names in Asia, Europe and the USA. A number of these ventures have grown into long-term business relationships. Al Yousuf Motors' portfolio includes Daihatsu vehicles, Daewoo buses, Suzuki motorcycles and outboard engines, Yamaha motorcycles, outboard and marine engines, water vehicles, generators, boats etc.
More about Al Yousuf http://www.zapworld.com/al-yousuf-med.html
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
Vist the Renewable Energy Stocks Media showcase :
For full details, click here: http://www.renewableenergystocks.com/CO/ZAAP/Default.asp
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, electric, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. ZAP is also developing a new generation of vehicles using lithium batteries. 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.
This press release contains forward-looking statements. 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.
ZAPAlex Campbell, 707-525-8658 x 241acampbell@zapworld.com
Keewatin Windpower(OTCBB:KWPW) Proceeds with Acquisition of Sky Harvest Windpower
Keewatin Windpower Proceeds with Acquisition of Sky Harvest Windpower
Trading Symbol: KWPW:OTCBB
VANCOUVER, May 27 2008 - In connection with its proposed acquisition of Sky Harvest Windpower Corp., Keewatin is pleased to announce that it has engaged Stirling Mercantile Corporation to prepare a fairness opinion concerning the transaction. Sky Harvest holds the land rights to develop a wind power project on approximately 8,500 acres of land located in southwestern Saskatchewan. The company has completed wind resource assessments on the property and is proposing the construction of a 150 megawatt facility.
Keewatin's Board of Directors anticipates that the fairness opinion will support the terms of the proposed acquisition whereby it will issue 1.5 shares of its common stock for each currently issued share of Sky Harvest, representing an aggregate of 17,343,516 shares. The advanced stage of the Sky Harvest project was considered in management's valuation. Both companies are prepared to complete the acquisition immediately following the receipt of the fairness opinion and the completion of an audit of Sky Harvest's financial statements. Current directors of Keewatin own 53% of Sky Harvest's issued and outstanding shares.
ON BEHALF OF THE BOARD OF
KEEWATIN WINDPOWER CORP.
Chris Craddock, President
For information on Sky Harvest Windpower, see www.skyharvestwind.com
Safe harbor for Forward-Looking Statements:
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 other factors over which Keewatin Windpower Corp. has little or no control.
Contacts
Chris Craddock President Investor Relations 1-877-700-7021 toll free
Trading Symbol: KWPW:OTCBB
VANCOUVER, May 27 2008 - In connection with its proposed acquisition of Sky Harvest Windpower Corp., Keewatin is pleased to announce that it has engaged Stirling Mercantile Corporation to prepare a fairness opinion concerning the transaction. Sky Harvest holds the land rights to develop a wind power project on approximately 8,500 acres of land located in southwestern Saskatchewan. The company has completed wind resource assessments on the property and is proposing the construction of a 150 megawatt facility.
Keewatin's Board of Directors anticipates that the fairness opinion will support the terms of the proposed acquisition whereby it will issue 1.5 shares of its common stock for each currently issued share of Sky Harvest, representing an aggregate of 17,343,516 shares. The advanced stage of the Sky Harvest project was considered in management's valuation. Both companies are prepared to complete the acquisition immediately following the receipt of the fairness opinion and the completion of an audit of Sky Harvest's financial statements. Current directors of Keewatin own 53% of Sky Harvest's issued and outstanding shares.
ON BEHALF OF THE BOARD OF
KEEWATIN WINDPOWER CORP.
Chris Craddock, President
For information on Sky Harvest Windpower, see www.skyharvestwind.com
Safe harbor for Forward-Looking Statements:
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 other factors over which Keewatin Windpower Corp. has little or no control.
Contacts
Chris Craddock President Investor Relations 1-877-700-7021 toll free
Geoexchange Technology Provider - Essential Innovations Technology Corp. (ESIV) - Announces the Execution of Multiple Agency
Geoexchange Technology Provider - Essential Innovations Technology Corp. (ESIV) - Announces the Execution of Multiple Agency and Corporate Representation Agreements
BELLINGHAM, Wash., May 27 - Essential Innovations Technology Corp. (OTCBB: ESIV; FRANKFURT: E6S) is pleased to announce that the Company has signed on with a number of agents for product representation, having exclusive or non-exclusive right to the ESIV product- line in North America and certain parts of Asia, while it further states that it has additionally engaged with other parties under corporate representation agreements for the promotion and execution of overall business and financing objectives.
Energy Source Technologies, http://www.energysourcetechnologies.com, has been given a non-exclusive product agency agreement for the United States of America and has additionally been given an exclusive agency agreement for the Country of the Philippines. Kingyoup Enterprises Company Limited, http://www.kingyoup.com, has been assigned with a non-exclusive agency agreement for both the Republic of Taiwan and the Country of China. Go Green Development Consortium, http://www.corbinenterprises.com, has signed a non- exclusive agency agreement covering the territory of the United States of America. Each of these different parties has been granted the rights to market and sell the ESIV Product(s) and Services, on either a non-exclusive or exclusive agency basis, within their defined Country. Until such time that an exclusive or non-exclusive distributor may exist in any of these or any other countries, an agent simply would acquire product directly from ESIV in their fulfillment of services. In future, however, should an exclusive or non- exclusive distributor exist in any particular country or territory where an agent may be acting, the agent would then work under said distributor for the purposes of the facilitation of their respective duties.
In addition to the agency relationships described above, the Company also has very active on-going corporate representation agreements in place with, Keystone Global LLC, http://www.keystonegl.com, Green Business China, http://www.ecoexpo.com, and Dragonfly Capital Group, http://www.dragonflycapitalgroup.com, whereby they each have been engaged on the basis of working with the Company to facilitate financing for the organization or so as to create business development agreements either as complete turn-key Geoexchange projects, or as standard distribution and sale agreements for the ESIV product line.
"The agreements discussed here are truly representative of the ever- growing demand for Geoexchange technology in the domestic and international marketplaces. Each of the parties referenced here under engagement from the Company are actively pursuing, or are in the final stages of negotiation for the sale and application of our technology within their particular Country of scope," affirmed Jason McDiarmid, President/CEO, of ESIV. "Aside from these continuing initiatives, ESIV is also engaged directly in the latter stages of a negotiation for representation in the form of an exclusive distribution agreement, which sets out and establishes specific target volumes and quotas for our product. In addition to this, we also are working in the international markets to finalize more integrated strategic alliance or joint venture opportunities that will allow us to persist with the establishment of a noticeable footprint on the World stage. In this regards, it is our goal and objective to remain aggressively engaged in such discussions and negotiations that allow us to create sales channels with well established and highly respected organizations that have experience in their particular international markets, and that ultimately can bring with them partnerships with some of the largest and finest engineering and installation experts in their regions to help to exploit our products and services. Given such general and complete efforts, we anticipate being able to offer guidance to the investment community in regards to the consummation of further distribution, strategic alliance or joint venture opportunities in the near- term."
Essential Innovations Technology Corp. provides cutting-edge Geoexchange solutions for residential, commercial and industrial applications as both a manufacturer of proprietary geothermal heat pump technology and as a Geoexchange energy service company. The Company was incorporated in April 2001, and it has four wholly owned subsidiaries located in British Columbia, Canada and in Hong Kong, SAR, China.
Geoexchange technology harnesses the earth's clean, renewable thermal energy stored just below the surface or in large bodies of water for purposes of heating, cooling, domestic hot water and/or dehumidification. A Geoexchange system is used to "exchange" the earth's natural heating and cooling properties between a building and the ground. This non-combustion transfer of energy is the source of performance and environmental superiority, as Geoexchange systems need only a small amount of electrical energy to then capture, move and concentrate a large amount of free energy provided by the earth.
Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such forward-looking statements involve risks and uncertainties. These statements include, but are not limited to, statements that do not describe historical facts and statements that include the word "believes," "anticipates," "expects," "plans," "intends," "designs," "projects" or similar language, as well as statements regarding consumer or marketplace acceptance of the Company's new or existing products; comments concerning marketing and consumer acceptance of proprietary products; the potential benefits of Essential Innovations' products; initiatives undertaken by the Essential Innovations' divisions; the Company's research, manufacturing and facilities expansion programs; and the Company's growth, revenue, or projected earnings; all such statements which may or may not occur in the future. These forward-looking statements are made as of the date of this news release, and Essential Innovations Technology Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no absolute assurance that such belief, plans, expectations or intentions will prove to be completely accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our periodic reports filed from time to time with the Securities and Exchange Commission.
Essential Innovations Technology is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ESIV/Default.asp
Source: Essential Innovations Technology Corp.
BELLINGHAM, Wash., May 27 - Essential Innovations Technology Corp. (OTCBB: ESIV; FRANKFURT: E6S) is pleased to announce that the Company has signed on with a number of agents for product representation, having exclusive or non-exclusive right to the ESIV product- line in North America and certain parts of Asia, while it further states that it has additionally engaged with other parties under corporate representation agreements for the promotion and execution of overall business and financing objectives.
Energy Source Technologies, http://www.energysourcetechnologies.com, has been given a non-exclusive product agency agreement for the United States of America and has additionally been given an exclusive agency agreement for the Country of the Philippines. Kingyoup Enterprises Company Limited, http://www.kingyoup.com, has been assigned with a non-exclusive agency agreement for both the Republic of Taiwan and the Country of China. Go Green Development Consortium, http://www.corbinenterprises.com, has signed a non- exclusive agency agreement covering the territory of the United States of America. Each of these different parties has been granted the rights to market and sell the ESIV Product(s) and Services, on either a non-exclusive or exclusive agency basis, within their defined Country. Until such time that an exclusive or non-exclusive distributor may exist in any of these or any other countries, an agent simply would acquire product directly from ESIV in their fulfillment of services. In future, however, should an exclusive or non- exclusive distributor exist in any particular country or territory where an agent may be acting, the agent would then work under said distributor for the purposes of the facilitation of their respective duties.
In addition to the agency relationships described above, the Company also has very active on-going corporate representation agreements in place with, Keystone Global LLC, http://www.keystonegl.com, Green Business China, http://www.ecoexpo.com, and Dragonfly Capital Group, http://www.dragonflycapitalgroup.com, whereby they each have been engaged on the basis of working with the Company to facilitate financing for the organization or so as to create business development agreements either as complete turn-key Geoexchange projects, or as standard distribution and sale agreements for the ESIV product line.
"The agreements discussed here are truly representative of the ever- growing demand for Geoexchange technology in the domestic and international marketplaces. Each of the parties referenced here under engagement from the Company are actively pursuing, or are in the final stages of negotiation for the sale and application of our technology within their particular Country of scope," affirmed Jason McDiarmid, President/CEO, of ESIV. "Aside from these continuing initiatives, ESIV is also engaged directly in the latter stages of a negotiation for representation in the form of an exclusive distribution agreement, which sets out and establishes specific target volumes and quotas for our product. In addition to this, we also are working in the international markets to finalize more integrated strategic alliance or joint venture opportunities that will allow us to persist with the establishment of a noticeable footprint on the World stage. In this regards, it is our goal and objective to remain aggressively engaged in such discussions and negotiations that allow us to create sales channels with well established and highly respected organizations that have experience in their particular international markets, and that ultimately can bring with them partnerships with some of the largest and finest engineering and installation experts in their regions to help to exploit our products and services. Given such general and complete efforts, we anticipate being able to offer guidance to the investment community in regards to the consummation of further distribution, strategic alliance or joint venture opportunities in the near- term."
Essential Innovations Technology Corp. provides cutting-edge Geoexchange solutions for residential, commercial and industrial applications as both a manufacturer of proprietary geothermal heat pump technology and as a Geoexchange energy service company. The Company was incorporated in April 2001, and it has four wholly owned subsidiaries located in British Columbia, Canada and in Hong Kong, SAR, China.
Geoexchange technology harnesses the earth's clean, renewable thermal energy stored just below the surface or in large bodies of water for purposes of heating, cooling, domestic hot water and/or dehumidification. A Geoexchange system is used to "exchange" the earth's natural heating and cooling properties between a building and the ground. This non-combustion transfer of energy is the source of performance and environmental superiority, as Geoexchange systems need only a small amount of electrical energy to then capture, move and concentrate a large amount of free energy provided by the earth.
Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such forward-looking statements involve risks and uncertainties. These statements include, but are not limited to, statements that do not describe historical facts and statements that include the word "believes," "anticipates," "expects," "plans," "intends," "designs," "projects" or similar language, as well as statements regarding consumer or marketplace acceptance of the Company's new or existing products; comments concerning marketing and consumer acceptance of proprietary products; the potential benefits of Essential Innovations' products; initiatives undertaken by the Essential Innovations' divisions; the Company's research, manufacturing and facilities expansion programs; and the Company's growth, revenue, or projected earnings; all such statements which may or may not occur in the future. These forward-looking statements are made as of the date of this news release, and Essential Innovations Technology Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no absolute assurance that such belief, plans, expectations or intentions will prove to be completely accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our periodic reports filed from time to time with the Securities and Exchange Commission.
Essential Innovations Technology is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ESIV/Default.asp
Source: Essential Innovations Technology Corp.
Thursday, May 22, 2008
Media Coverage of Todays Renewable Energy Stocks Sector Close- Up
Renewable Energy Stocks Sector Close-Up as Oil Hits Over $130 ...
Renewable Energy Sector Close-Up as of May 21, 2008. Geothermal stock, Essential Innovations ... investor conferences, Blogs, and a directory of stocks. ...www.msnbc.msn.com/id/24773303/ - 13 hours ago -
Renewable Energy Stocks Sector Close-Up as Oil Hits Over $130 ...CNNMoney.com - 15 hours agoFor investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of renewable energy and green stocks.
RENEWABLE ENERGY STOCKS SECTOR CLOSE-UP AS OIL HITS OVER $130 BARRELEarthtoys (press release) - 9 hours agoFor investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of renewable energy and green stocks. ...
Renewable Energy Stocks Sector Close-Up As Oil Hits Over $130 BarrelRedOrbit, TX - 12 hours agoFor investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of renewable energy and green stocks. ...
Renewable Energy Sector Close-Up as of May 21, 2008. Geothermal stock, Essential Innovations ... investor conferences, Blogs, and a directory of stocks. ...www.msnbc.msn.com/id/24773303/ - 13 hours ago -
Renewable Energy Stocks Sector Close-Up as Oil Hits Over $130 ...CNNMoney.com - 15 hours agoFor investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of renewable energy and green stocks.
RENEWABLE ENERGY STOCKS SECTOR CLOSE-UP AS OIL HITS OVER $130 BARRELEarthtoys (press release) - 9 hours agoFor investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of renewable energy and green stocks. ...
Renewable Energy Stocks Sector Close-Up As Oil Hits Over $130 BarrelRedOrbit, TX - 12 hours agoFor investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of renewable energy and green stocks. ...
Renewable Energy Stocks Message Boards
Global Renewable Energy Stock List & Directory
New From Investorideas.com Green Investor Portals - The Greentech Investor Renewable Energy Stocks Message Boards :
Click here: http://www.greentechinvestor.com/forum/index.php
Learn more about renewable energy investing at our online Greentech conference - live March 20 (archived after) - click here
New From Investorideas.com Green Investor Portals - The Greentech Investor Renewable Energy Stocks Message Boards :
Click here: http://www.greentechinvestor.com/forum/index.php
Learn more about renewable energy investing at our online Greentech conference - live March 20 (archived after) - click here
Renewable Energy Stocks Sector Close-Up as Oil Hits over $130 Barrel;
Renewable Energy Stocks Sector Close-Up as Oil Hits over $130 Barrel;
Recent Developments in Solar, Wind, Geothermal and
Green Automotive Stocks
POINT ROBERTS, WA and DELTA, BC--May 22 , 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 recent news and developments in renewable energy stocks as oil continues to set record highs.
Renewable Energy Sector Close-Up as of May 21, 2008
Geothermal stock, Essential Innovations Technology Corp., (OTCBB: ESIV; FRANKFURT: E6S) announced it has successfully closed and funded a financing in the form of a convertible secured note in the amount of $1,750,000 USD.
Rotoblock Inc. (OTCBB: ROTB) recently announced it will acquire controlling interest in Hikom Gottell Corporation for US $25 Million (US $25,000,000). The US-China venture intends to develop and manufacture small engines, air-conditioning systems and other consumer and industrial equipment.
XsunX, Inc. (OTCBB: XSNX ), a solar technology company, announced today that it has signed an agreement with Praxair, Inc. (Market, News ) for the supply of bulk industrial gases for its new multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facility near Portland, Oregon.
Electric vehicle pioneer ZAP (OTC BB:ZAAP) announced that Dubai's Al Yousuf Group has completed a transaction to purchase a convertible debt that was part of a private placement registration from October 2007.ZAP closed trading at $1.18 on 2,532,983 shares.
Ascent Solar Technologies, Inc. (Market, News) announced that the underwriters of its public offering exercised their over-allotment option to purchase an additional 570,000 shares of its common stock at $14.00 per share.
The Chicago Board Options Exchange launched trading in options on Market Vectors-Solar Energy ETF (Market, News ), an exchange-traded fund.
Solarfun Power Holdings (Market, News), a manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, reported its unaudited financial results for the first quarter ended March 31, 2008 with Net revenue of RMB 1.20 billion (US$ 171.0 million), an increase of 529% from the fourth quarter of 2007. Solarfun traded 30,416,457 shares and was up 4.99%.
Publicly traded, Suzlon Energy Limited, based in Mumbai, India the world’s fifth leading wind turbine maker with 10.5% of global market share, announced results for the financial year ended March 31, 2008, reporting 71% growth in revenues.
Fuel Tech, Inc. (Market, News) announced receipt of a $4.6 million contract for the supply and installation of NOxOUT® Selective Non-Catalytic Reduction (SNCR) technology on two newly constructed 600 megawatt coal-fired boilers in the People’s Republic of China (PRC).
SunPower Corporation, (Market, News ) a manufacturer of high-efficiency solar cells, solar panels, and solar systems, announced it has completed design and construction of a new 1.4-megawatt solar electric power plant project in Hampyeong, South Korea.
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of renewable energy and green stocks.
Featured Green Showcase Companies:
Solar Company XsunX, (OTCBB: XSNX) is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. Visit Media showcase: http://www.investorideas.com/co/xsnx/default.asp or http://www.xsunx.com/
Geothermal Company Essential Innovations Technology Corp. (OTCBB: ESIV - FRANKFURT: E6S) provides cutting-edge Geoexchange solutions for residential, commercial and industrial applications as both a manufacturer of proprietary geothermal heat pump technology and as a Geoexchange energy service company. More info can be found on the Investorideas.com Showcase page at: http://www.investorideas.com/CO/ESIV/Default.asp or www.EITechCorp.com
Rotoblock Corporation (OTCBB: ROTB) is focused on the development and manufacturing of small engines and other energy-efficient and environmental equipment in China for distribution worldwide.
Visit media showcase: http://www.investorideas.com/CO/ROTB/Default.asp
Electric car pioneer, ZAP (OTCBB: ZAAP) has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries.
Visit media showcase: http://www.investorideas.com/CO/ZAAP/Default.asp
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.
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. For disclosure purposes, the site is currently compensated by featured showcase companies, news submissions and online advertising. Please read the disclaimer and specific compensation disclosure for each company at http://www.investorideas.com/About/Disclaimer.asp.
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com,
Source: Investorideas.com RenewableEnergyStocks.com, XsunX, Essential Innovations Technology Rotoblock, ZAP
Recent Developments in Solar, Wind, Geothermal and
Green Automotive Stocks
POINT ROBERTS, WA and DELTA, BC--May 22 , 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 recent news and developments in renewable energy stocks as oil continues to set record highs.
Renewable Energy Sector Close-Up as of May 21, 2008
Geothermal stock, Essential Innovations Technology Corp., (OTCBB: ESIV; FRANKFURT: E6S) announced it has successfully closed and funded a financing in the form of a convertible secured note in the amount of $1,750,000 USD.
Rotoblock Inc. (OTCBB: ROTB) recently announced it will acquire controlling interest in Hikom Gottell Corporation for US $25 Million (US $25,000,000). The US-China venture intends to develop and manufacture small engines, air-conditioning systems and other consumer and industrial equipment.
XsunX, Inc. (OTCBB: XSNX ), a solar technology company, announced today that it has signed an agreement with Praxair, Inc. (Market, News ) for the supply of bulk industrial gases for its new multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facility near Portland, Oregon.
Electric vehicle pioneer ZAP (OTC BB:ZAAP) announced that Dubai's Al Yousuf Group has completed a transaction to purchase a convertible debt that was part of a private placement registration from October 2007.ZAP closed trading at $1.18 on 2,532,983 shares.
Ascent Solar Technologies, Inc. (Market, News) announced that the underwriters of its public offering exercised their over-allotment option to purchase an additional 570,000 shares of its common stock at $14.00 per share.
The Chicago Board Options Exchange launched trading in options on Market Vectors-Solar Energy ETF (Market, News ), an exchange-traded fund.
Solarfun Power Holdings (Market, News), a manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, reported its unaudited financial results for the first quarter ended March 31, 2008 with Net revenue of RMB 1.20 billion (US$ 171.0 million), an increase of 529% from the fourth quarter of 2007. Solarfun traded 30,416,457 shares and was up 4.99%.
Publicly traded, Suzlon Energy Limited, based in Mumbai, India the world’s fifth leading wind turbine maker with 10.5% of global market share, announced results for the financial year ended March 31, 2008, reporting 71% growth in revenues.
Fuel Tech, Inc. (Market, News) announced receipt of a $4.6 million contract for the supply and installation of NOxOUT® Selective Non-Catalytic Reduction (SNCR) technology on two newly constructed 600 megawatt coal-fired boilers in the People’s Republic of China (PRC).
SunPower Corporation, (Market, News ) a manufacturer of high-efficiency solar cells, solar panels, and solar systems, announced it has completed design and construction of a new 1.4-megawatt solar electric power plant project in Hampyeong, South Korea.
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of renewable energy and green stocks.
Featured Green Showcase Companies:
Solar Company XsunX, (OTCBB: XSNX) is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. Visit Media showcase: http://www.investorideas.com/co/xsnx/default.asp or http://www.xsunx.com/
Geothermal Company Essential Innovations Technology Corp. (OTCBB: ESIV - FRANKFURT: E6S) provides cutting-edge Geoexchange solutions for residential, commercial and industrial applications as both a manufacturer of proprietary geothermal heat pump technology and as a Geoexchange energy service company. More info can be found on the Investorideas.com Showcase page at: http://www.investorideas.com/CO/ESIV/Default.asp or www.EITechCorp.com
Rotoblock Corporation (OTCBB: ROTB) is focused on the development and manufacturing of small engines and other energy-efficient and environmental equipment in China for distribution worldwide.
Visit media showcase: http://www.investorideas.com/CO/ROTB/Default.asp
Electric car pioneer, ZAP (OTCBB: ZAAP) has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries.
Visit media showcase: http://www.investorideas.com/CO/ZAAP/Default.asp
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.
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. For disclosure purposes, the site is currently compensated by featured showcase companies, news submissions and online advertising. Please read the disclaimer and specific compensation disclosure for each company at http://www.investorideas.com/About/Disclaimer.asp.
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com,
Source: Investorideas.com RenewableEnergyStocks.com, XsunX, Essential Innovations Technology Rotoblock, ZAP
Wednesday, May 21, 2008
Ascent Solar Announces Exercise of Over-Allotment Option
Ascent Solar Announces Exercise of Over-Allotment Option
LITTLETON, Colo.--May 20 2008 Ascent Solar Technologies, Inc. (NASDAQ:ASTI) today announced that the underwriters of its public offering exercised their over-allotment option to purchase an additional 570,000 shares of its common stock at $14.00 per share, before deducting underwriting discounts and commissions. The option was granted in connection with the company’s public offering of 3,800,000 shares of its common stock, which priced on May 15, 2008.
J.P. Morgan Securities Inc. is serving as managing lead underwriter of the offering. Cowen and Company, LLC, Jefferies & Company, Inc. and Merriman Curhan Ford & Co. are serving as co-managers of the offering, and Janco Partners, Inc., Maxim Group LLC and Signal Hill Capital Group LLC also are serving in the underwriting group. The offering is being made solely by means of a prospectus. A copy of the final prospectus, when available, may be obtained by mail to J.P. Morgan Securities Inc., National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, New York 11245, or by calling J.P. Morgan Securities Inc. at 1-718-242-8002.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, and there shall not be any sale of these 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.
About Ascent Solar Technologies, Inc.
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules and is located in Littleton, Colorado.
Forward-Looking Statements
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 the Securities and Exchange Commission.
Contacts Ascent Solar Technologies, Inc.Brian Blackman, 832-515-0928 (Investor Relations)bblackman@ascentsolar.comorBrand Fortified Public RelationsKelly Brandner, 303-289-4303 (Media)kellybrandner@msn.com
LITTLETON, Colo.--May 20 2008 Ascent Solar Technologies, Inc. (NASDAQ:ASTI) today announced that the underwriters of its public offering exercised their over-allotment option to purchase an additional 570,000 shares of its common stock at $14.00 per share, before deducting underwriting discounts and commissions. The option was granted in connection with the company’s public offering of 3,800,000 shares of its common stock, which priced on May 15, 2008.
J.P. Morgan Securities Inc. is serving as managing lead underwriter of the offering. Cowen and Company, LLC, Jefferies & Company, Inc. and Merriman Curhan Ford & Co. are serving as co-managers of the offering, and Janco Partners, Inc., Maxim Group LLC and Signal Hill Capital Group LLC also are serving in the underwriting group. The offering is being made solely by means of a prospectus. A copy of the final prospectus, when available, may be obtained by mail to J.P. Morgan Securities Inc., National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, New York 11245, or by calling J.P. Morgan Securities Inc. at 1-718-242-8002.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, and there shall not be any sale of these 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.
About Ascent Solar Technologies, Inc.
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules and is located in Littleton, Colorado.
Forward-Looking Statements
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 the Securities and Exchange Commission.
Contacts Ascent Solar Technologies, Inc.Brian Blackman, 832-515-0928 (Investor Relations)bblackman@ascentsolar.comorBrand Fortified Public RelationsKelly Brandner, 303-289-4303 (Media)kellybrandner@msn.com
Tuesday, May 20, 2008
Options on Market Vectors-Solar Energy ETF Begin Trading on CBOE®
Options on Market Vectors-Solar Energy ETF Begin Trading on CBOE®
NEW YORK--May 20 2008 --The Chicago Board Options Exchange® (CBOE®) has launched trading in options on Market Vectors-Solar Energy ETF (KWT), an exchange-traded fund. KWT options began trading on May 12.
The options trade on the January expiration cycle with initial expiration months of June, July, October and January. Strike prices range from 35 to 45 in one-point intervals. Position limits have been set at 2,500,000 shares. The Designated Primary Market Maker is Group One Trading, LP.
KWT seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ardour Solar Energy IndexSM (Bloomberg ticker: SOLRX), the pure-play leader in tracking the global solar energy industry. SOLRX includes only those companies that generate at least 66% of their revenues from solar energy. On an index-weighted basis, its constituents derive well over 90% of their revenues from solar energy. The Index was launched in April 2008 and includes many companies of global prominence—such as First Solar, Q Cells and Renewable Energy.
SOLRX is published by Ardour Global Indexes, LLCSM and is a member of the Ardour FamilySM of Alternative Energy Indexes, which serve as leading alternative energy industry benchmarks.
KWT shares trade on the American Stock Exchange® (Amex®). Van Eck Associates Corporation is the investment adviser for KWT.
About the Chicago Board Options Exchange®
CBOE®, the largest U.S. options marketplace and creator of listed options, is regulated by the Securities and Exchange Commission (SEC). Since founding the listed options business in 1973, CBOE® has been the leader in options volume every single year. In 2007, CBOE® options contract volume reached an all-time record of more than 944 million contracts. For more information on the CBOE®, please visit www.cboe.com.
About the Ardour Solar Energy IndexSM (SOLRX)
The Ardour Solar Energy IndexSM is a rules-based, modified global-capitalization-weighted, float-adjusted index intended to give investors an efficient means of tracking the overall performance of a global universe of listed companies engaged in the solar industry. The Index is weighted based on the market capitalization of each of the component stocks, modified to conform to various asset diversification requirements, which are applied in conjunction with the scheduled quarterly adjustments to the Index. Index values are calculated on both a price-only and total-return basis.
About Ardour Global Indexes, LLCSM
Ardour Global Indexes, LLCSM was founded in 2005 for the express purpose of developing bench-marking tools for the global alternative energy industry. It is a partnership between Ardour Capital Investments, LLC, a premier investment bank specializing in alternative energy finance, and S-Network Energy Technologies, LLC, a developer of indexes and investment products focused on both traditional and alternative energy.
Ardour Global Indexes, LLCSM and Ardour Solar Energy IndexSM are service marks of Ardour Global Indexes, LLCSM and have been licensed for use by Van Eck Associates Corporation in connection with Market Vectors–Solar Energy ETF (KWT). KWT is not sponsored, endorsed, sold or promoted by Ardour Global Indexes, LLCSM and Ardour Global Indexes, LLCSM makes no representation regarding the advisability of investing in the KWT. The Ardour Solar Energy IndexSM is calculated by Dow Jones Indexes. Van Eck’s Market Vectors–Solar Energy ETF (KWT), based on the Ardour Solar Energy IndexSM, is not sponsored, endorsed, sold or promoted by Dow Jones Indexes, and Dow Jones Indexes makes no representation regarding the advisability of investing in KWT.
About Van Eck Global
Founded in 1955, Van Eck Associates Corporation was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today the firm continues the 50+ year tradition by offering global investment choices in hard assets, emerging markets, precious metals including gold, and other specialized asset classes.
Market Vectors exchange-traded products have been offered by Van Eck Global since 2006 when the firm launched the nation’s first gold mining ETF. Today, Market Vectors ETFs and ETNs span several asset classes, including equities, municipal bonds and currency markets.
Van Eck Global also offers mutual funds, insurance trust funds, separate accounts and alternative investments. Designed for investors seeking innovative choices for portfolio diversification, Van Eck Global’s investment products are often categorized in asset classes having returns with low correlations to those of more traditional U.S. equity and fixed income investments.
KWT is subject to risks associated with the stock market, index tracking, sector investing, investing in small- or mid-cap companies, foreign investments, replication management, non-diversified investments, absence of prior active market, trading issues, fluctuation of net asset value and risks of investing in solar energy investments. Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies.
Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind.
Investors may call 1.888.MKT.VCTR or visit www.vaneck.com/kwt for a free prospectus. They should consider the investment objective, risks, and charges and expenses of Market Vectors-Solar Energy ETF carefully before investing. The prospectus contains this and other information about KWT. Please read the prospectus carefully before investing.
Please call 1.888.MKT.VCTR or visit www.vaneck.com/kwt for the most recent month-end performance of Market Vectors-Solar Energy ETF. This information will be available no later than seven business days after the most recent month end.
Contacts MacMillan CommunicationsMike MacMillan or Lindsey Wetmiller, 212-473-4442Lindsey@macmillancom.com
NEW YORK--May 20 2008 --The Chicago Board Options Exchange® (CBOE®) has launched trading in options on Market Vectors-Solar Energy ETF (KWT), an exchange-traded fund. KWT options began trading on May 12.
The options trade on the January expiration cycle with initial expiration months of June, July, October and January. Strike prices range from 35 to 45 in one-point intervals. Position limits have been set at 2,500,000 shares. The Designated Primary Market Maker is Group One Trading, LP.
KWT seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ardour Solar Energy IndexSM (Bloomberg ticker: SOLRX), the pure-play leader in tracking the global solar energy industry. SOLRX includes only those companies that generate at least 66% of their revenues from solar energy. On an index-weighted basis, its constituents derive well over 90% of their revenues from solar energy. The Index was launched in April 2008 and includes many companies of global prominence—such as First Solar, Q Cells and Renewable Energy.
SOLRX is published by Ardour Global Indexes, LLCSM and is a member of the Ardour FamilySM of Alternative Energy Indexes, which serve as leading alternative energy industry benchmarks.
KWT shares trade on the American Stock Exchange® (Amex®). Van Eck Associates Corporation is the investment adviser for KWT.
About the Chicago Board Options Exchange®
CBOE®, the largest U.S. options marketplace and creator of listed options, is regulated by the Securities and Exchange Commission (SEC). Since founding the listed options business in 1973, CBOE® has been the leader in options volume every single year. In 2007, CBOE® options contract volume reached an all-time record of more than 944 million contracts. For more information on the CBOE®, please visit www.cboe.com.
About the Ardour Solar Energy IndexSM (SOLRX)
The Ardour Solar Energy IndexSM is a rules-based, modified global-capitalization-weighted, float-adjusted index intended to give investors an efficient means of tracking the overall performance of a global universe of listed companies engaged in the solar industry. The Index is weighted based on the market capitalization of each of the component stocks, modified to conform to various asset diversification requirements, which are applied in conjunction with the scheduled quarterly adjustments to the Index. Index values are calculated on both a price-only and total-return basis.
About Ardour Global Indexes, LLCSM
Ardour Global Indexes, LLCSM was founded in 2005 for the express purpose of developing bench-marking tools for the global alternative energy industry. It is a partnership between Ardour Capital Investments, LLC, a premier investment bank specializing in alternative energy finance, and S-Network Energy Technologies, LLC, a developer of indexes and investment products focused on both traditional and alternative energy.
Ardour Global Indexes, LLCSM and Ardour Solar Energy IndexSM are service marks of Ardour Global Indexes, LLCSM and have been licensed for use by Van Eck Associates Corporation in connection with Market Vectors–Solar Energy ETF (KWT). KWT is not sponsored, endorsed, sold or promoted by Ardour Global Indexes, LLCSM and Ardour Global Indexes, LLCSM makes no representation regarding the advisability of investing in the KWT. The Ardour Solar Energy IndexSM is calculated by Dow Jones Indexes. Van Eck’s Market Vectors–Solar Energy ETF (KWT), based on the Ardour Solar Energy IndexSM, is not sponsored, endorsed, sold or promoted by Dow Jones Indexes, and Dow Jones Indexes makes no representation regarding the advisability of investing in KWT.
About Van Eck Global
Founded in 1955, Van Eck Associates Corporation was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today the firm continues the 50+ year tradition by offering global investment choices in hard assets, emerging markets, precious metals including gold, and other specialized asset classes.
Market Vectors exchange-traded products have been offered by Van Eck Global since 2006 when the firm launched the nation’s first gold mining ETF. Today, Market Vectors ETFs and ETNs span several asset classes, including equities, municipal bonds and currency markets.
Van Eck Global also offers mutual funds, insurance trust funds, separate accounts and alternative investments. Designed for investors seeking innovative choices for portfolio diversification, Van Eck Global’s investment products are often categorized in asset classes having returns with low correlations to those of more traditional U.S. equity and fixed income investments.
KWT is subject to risks associated with the stock market, index tracking, sector investing, investing in small- or mid-cap companies, foreign investments, replication management, non-diversified investments, absence of prior active market, trading issues, fluctuation of net asset value and risks of investing in solar energy investments. Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies.
Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind.
Investors may call 1.888.MKT.VCTR or visit www.vaneck.com/kwt for a free prospectus. They should consider the investment objective, risks, and charges and expenses of Market Vectors-Solar Energy ETF carefully before investing. The prospectus contains this and other information about KWT. Please read the prospectus carefully before investing.
Please call 1.888.MKT.VCTR or visit www.vaneck.com/kwt for the most recent month-end performance of Market Vectors-Solar Energy ETF. This information will be available no later than seven business days after the most recent month end.
Contacts MacMillan CommunicationsMike MacMillan or Lindsey Wetmiller, 212-473-4442Lindsey@macmillancom.com
Rotoblock (OTCBB:ROTB) to Acquire Hikom Gottell Corporation in China for US $25 Million
Rotoblock (OTCBB:ROTB) to Acquire Hikom Gottell Corporation in China for US $25 Million
US-China Venture to Develop and Manufacture Small Engines, Consumer and Industrial Equipment
SANTA ROSA, Calif. & NANJING, China, Rotoblock Inc. (OTCBB: ROTB) has agreed to acquire controlling interest in Hikom Gottell Corporation for US $25 Million (US $25,000,000). The US-China venture intends to develop and manufacture small engines, air-conditioning systems and other consumer and industrial equipment.
Rotoblock signed a term sheet to acquire 51 percent majority interest in Hikom Gottell Corporation, a manufacturing company based in Nanjing City of the Jiangsu Province in Mainland China. Hikom Gottell employs about 250 workers primarily involved in designing and manufacturing of commercial air-conditioning systems for automotive, building, and environmental applications. These products are distributed throughout China. Rotoblock's offer of US $25 Million would be in cash and stock options. The final purchase price is subject to an independent audit, which will be carried out during the acquisition proceedings.
Rotoblock has agreed to purchase the hard assets of Hikom Gottell's manufacturing facilities in Nanjing as well as the name Hikom Gottell and its distribution network. The acquisition would include Hikom Gottell's 10-acre manufacturing complex, land, factories, manufacturing equipment, testing facilities, and delivery trucks.
"This opens a whole new horizon for Rotoblock's business plans," said CEO Mr. Chin Chih Liu. "Not only would we have a research and manufacturing facility in China, we will also have the financial backing to take the Company to new heights. At the same time, Rotoblock can help diversify the product lines being manufactured by Hikom Gottell and expand their market internationally."
About Rotoblock Corporation -- Rotoblock is focused on the development and manufacturing of small engines and other energy-efficient and environmental equipment in China for distribution worldwide. The Company was incorporated in Nevada and is headquartered in Santa Rosa, California. Rotoblock 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.
Safe Harbour For Forward-Looking Statements
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.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5689768
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
Tony R. Collins, 877-511-0110 (Toll Free)
Source: Rotoblock Corporation
US-China Venture to Develop and Manufacture Small Engines, Consumer and Industrial Equipment
SANTA ROSA, Calif. & NANJING, China, Rotoblock Inc. (OTCBB: ROTB) has agreed to acquire controlling interest in Hikom Gottell Corporation for US $25 Million (US $25,000,000). The US-China venture intends to develop and manufacture small engines, air-conditioning systems and other consumer and industrial equipment.
Rotoblock signed a term sheet to acquire 51 percent majority interest in Hikom Gottell Corporation, a manufacturing company based in Nanjing City of the Jiangsu Province in Mainland China. Hikom Gottell employs about 250 workers primarily involved in designing and manufacturing of commercial air-conditioning systems for automotive, building, and environmental applications. These products are distributed throughout China. Rotoblock's offer of US $25 Million would be in cash and stock options. The final purchase price is subject to an independent audit, which will be carried out during the acquisition proceedings.
Rotoblock has agreed to purchase the hard assets of Hikom Gottell's manufacturing facilities in Nanjing as well as the name Hikom Gottell and its distribution network. The acquisition would include Hikom Gottell's 10-acre manufacturing complex, land, factories, manufacturing equipment, testing facilities, and delivery trucks.
"This opens a whole new horizon for Rotoblock's business plans," said CEO Mr. Chin Chih Liu. "Not only would we have a research and manufacturing facility in China, we will also have the financial backing to take the Company to new heights. At the same time, Rotoblock can help diversify the product lines being manufactured by Hikom Gottell and expand their market internationally."
About Rotoblock Corporation -- Rotoblock is focused on the development and manufacturing of small engines and other energy-efficient and environmental equipment in China for distribution worldwide. The Company was incorporated in Nevada and is headquartered in Santa Rosa, California. Rotoblock 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.
Safe Harbour For Forward-Looking Statements
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.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5689768
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
Tony R. Collins, 877-511-0110 (Toll Free)
Source: Rotoblock Corporation
Clear Skies Solar, Inc. Added to Ludlow Energy Small-Cap Index
Clear Skies Solar, Inc. Added to Ludlow Energy Small-Cap Index
NEW YORK, Clear Skies Solar, Inc. (OTCBB: CSKH), a leading provider of renewable energy solutions, recently announced that the company has been added to the Ludlow Energy Small-Cap Index.
“It’s truly an honor to have Clear Skies Solar added to the much-respected Ludlow Energy Ventures renewable energy index,” said Ezra Green, Chairman and CEO of Clear Skies Solar. “CSS has made significant advances in recent years developing high-performance, proprietary technologies like the patented XTRAX® Solar Monitoring System and our innovative TetraPort Solar Energy Carport System. These innovations brought us much success and, as a result, positioned us as leaders in the renewable energy industry, as underscored by this announcement.”
Mark Blackwell, research associate with Ludlow Energy Ventures commented, “We are pleased to have Clear Skies Solar as a new component to our renewable energy index. Focused on the sub-1MW solar market, Clear Skies Solar provides solutions on the commercial and residential developer level, and adds additional depth to our stock index.”
Clear Skies Solar designs, engineers, manufacturers, and installs the most advanced and cutting-edge technology currently available in the renewable energy market. In-house architects, electronics experts, and electricians offering combined decades of construction experience make CSS not only a one-stop solution provider but also a leading solar project developer in the United States today.
The Ludlow Small-Cap Energy Index is a basket of small cap alternative energy stocks. The Index provides both institutional and individual investors a tool for tracking the day-to-day performance of a number of small cap alternative energy stocks in a diversified basket. The index is designed for investors who have a long-term bullish outlook on alternative energy, and may be seeking a diversified portfolio within the sector. The Ludlow Energy Small-Cap Index is owned and operated by Ludlow Energy Ventures, Inc.
For additional information on the Ludlow Energy Small-Cap Index and its components visit http://www.ludlowenergy.com/indices/smallcap.html.
About Clear Skies Solar
Clear Skies Solar, Inc. (CSS) through its wholly owned subsidiary provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS 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. CSS has become one of the premier solar electric installation companies in the country. For more information about CSS, visit www.ClearSkiesSolar.com .
About Ludlow Energy Ventures, Inc.
Based in New York City, Ludlow Energy Ventures is a venture capital and research advisory firm with a specific focus on the renewable and alternative energy markets. The goal of the firm is to promote investments into alternative and renewable energy projects and ventures worldwide. Ludlow Energy Ventures owns and operates the Ludlow Energy Indices, which tracks a wide basket of US traded large and small cap alternative energy stocks. www.ludlowenergy.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 Holdings, Inc. is a featured Company on Investorideas.com Green portals.
For full details, click here: http://www.renewableenergystocks.com/CO/CSG/Default.asp
Contact:
Clear Skies Group
Media Inquiries:
Laura Finlayson, 201-488-0049
laura@avalanchepr.com
or
PR Financial Marketing
Investor Relations:
Jim Blackman, 713-256-0369
jim@prfmonline.com
or
Ludlow Energy Ventures, Inc.
Managing Partner
Sarah Kapchinske, 212-333-2864
sarah@ludlowenergy.com
Source: Clear Skies Solar, Inc.
NEW YORK, Clear Skies Solar, Inc. (OTCBB: CSKH), a leading provider of renewable energy solutions, recently announced that the company has been added to the Ludlow Energy Small-Cap Index.
“It’s truly an honor to have Clear Skies Solar added to the much-respected Ludlow Energy Ventures renewable energy index,” said Ezra Green, Chairman and CEO of Clear Skies Solar. “CSS has made significant advances in recent years developing high-performance, proprietary technologies like the patented XTRAX® Solar Monitoring System and our innovative TetraPort Solar Energy Carport System. These innovations brought us much success and, as a result, positioned us as leaders in the renewable energy industry, as underscored by this announcement.”
Mark Blackwell, research associate with Ludlow Energy Ventures commented, “We are pleased to have Clear Skies Solar as a new component to our renewable energy index. Focused on the sub-1MW solar market, Clear Skies Solar provides solutions on the commercial and residential developer level, and adds additional depth to our stock index.”
Clear Skies Solar designs, engineers, manufacturers, and installs the most advanced and cutting-edge technology currently available in the renewable energy market. In-house architects, electronics experts, and electricians offering combined decades of construction experience make CSS not only a one-stop solution provider but also a leading solar project developer in the United States today.
The Ludlow Small-Cap Energy Index is a basket of small cap alternative energy stocks. The Index provides both institutional and individual investors a tool for tracking the day-to-day performance of a number of small cap alternative energy stocks in a diversified basket. The index is designed for investors who have a long-term bullish outlook on alternative energy, and may be seeking a diversified portfolio within the sector. The Ludlow Energy Small-Cap Index is owned and operated by Ludlow Energy Ventures, Inc.
For additional information on the Ludlow Energy Small-Cap Index and its components visit http://www.ludlowenergy.com/indices/smallcap.html.
About Clear Skies Solar
Clear Skies Solar, Inc. (CSS) through its wholly owned subsidiary provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS 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. CSS has become one of the premier solar electric installation companies in the country. For more information about CSS, visit www.ClearSkiesSolar.com .
About Ludlow Energy Ventures, Inc.
Based in New York City, Ludlow Energy Ventures is a venture capital and research advisory firm with a specific focus on the renewable and alternative energy markets. The goal of the firm is to promote investments into alternative and renewable energy projects and ventures worldwide. Ludlow Energy Ventures owns and operates the Ludlow Energy Indices, which tracks a wide basket of US traded large and small cap alternative energy stocks. www.ludlowenergy.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 Holdings, Inc. is a featured Company on Investorideas.com Green portals.
For full details, click here: http://www.renewableenergystocks.com/CO/CSG/Default.asp
Contact:
Clear Skies Group
Media Inquiries:
Laura Finlayson, 201-488-0049
laura@avalanchepr.com
or
PR Financial Marketing
Investor Relations:
Jim Blackman, 713-256-0369
jim@prfmonline.com
or
Ludlow Energy Ventures, Inc.
Managing Partner
Sarah Kapchinske, 212-333-2864
sarah@ludlowenergy.com
Source: Clear Skies Solar, Inc.
Monday, May 19, 2008
Geoexchange Technology Provider - Essential Innovations Technology Corp. (ESIV) - Announces $1,750,000 USD Financing
Geoexchange Technology Provider - Essential Innovations Technology Corp. (ESIV) - Announces $1,750,000 USD Financing
BELLINGHAM, Wash., May 19 - Essential Innovations Technology Corp. (OTCBB: ESIV; FRANKFURT: E6S) is truly pleased to announce that it has successfully closed and funded a financing in the form of a convertible secured note in the amount of $1,750,000 USD.
The proceeds invested in the Company from the sale of a fixed price, interest-bearing, convertible term note, will be used to pay down existing debt, purchase raw materials, structure an interest escrow account for service of the note, and to provide overall general working capital. This investment not only allows the Company to focus on the production and delivery fulfillment of a significant amount of current units orders, but it further supports the rapid and steady growth plan for the manufacturing and distribution activities for it's proprietary Geoexchange heat pump technology.
"This recent funding is truly representative of the high level of confidence that exists from the investment community in our technology, our people, our industry and our organization. The business relationships we have now solidified over this last year, most particularly in relation to the sales and distribution of our EI Elemental Geoexchange product line, provided us with the necessary validation of our overall business case to gain the on-going support of our lender as is clearly represented by this substantial investment. As negotiations in relation to a larger equity financing now continue forth with numerous parties both domestically and internationally, this recent $1,750,000 investment has provided a wonderful catalyst to drive our business and to continue to prove to those in the capital markets and throughout the industry that we have positioned ourselves to be one of the true Geoexchange leaders in the World today," stated Jason McDiarmid, President/CEO.
With regards to additional financing, the Company remains engaged in multiple discussions and negotiations with other outside investment sources and/or strategic business partnership candidates with the goal to facilitate a large straight equity financing in the latter part of 2008/early 2009. The proceeds of such future financing would allow the Company to further expand global operations, move in to full-scale international production and distribution of it's Geoexchange product line, launch a widespread sales and marketing campaign, entirely take-out existing senior secured debt, continue to seek further ESCO project opportunities and to provide significant on-going working capital.
Essential Innovations Technology Corp. provides cutting-edge Geoexchange solutions for residential, commercial and industrial applications as both a Geoexchange energy service company and as a manufacturer of proprietary geothermal heat pump technology. The Company was incorporated in April 2001, and it has four wholly owned subsidiaries located in British Columbia, Canada and in Hong Kong, SAR, China.
Geoexchange technology harnesses the earth's clean, renewable thermal energy stored just below the surface or in large bodies of water for purposes of heating, cooling, domestic hot water and/or dehumidification. A Geoexchange system is used to "exchange" the earth's natural heating and cooling properties between a building and the ground. This non-combustion transfer of energy is the source of performance and environmental superiority, as Geoexchange systems need only a small amount of electrical energy to then capture, move and concentrate a large amount of free energy provided by the earth.
Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such forward-looking statements involve risks and uncertainties. These statements include, but are not limited to, statements that do not describe historical facts and statements that include the word "believes," "anticipates," "expects," "plans," "intends," "designs," "projects" or similar language, as well as statements regarding consumer or marketplace acceptance of the Company's new or existing products; comments concerning marketing and consumer acceptance of proprietary products; the potential benefits of Essential Innovations' products; initiatives undertaken by the Essential Innovations' divisions; the Company's research, manufacturing and facilities expansion programs; and the Company's growth, revenue, or projected earnings; all such statements which may or may not occur in the future. These forward-looking statements are made as of the date of this news release, and Essential Innovations Technology Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no absolute assurance that such belief, plans, expectations or intentions will prove to be completely accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our periodic reports filed from time to time with the Securities and Exchange Commission.
Essential Innovations Technology is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ESIV/Default.asp
Source: Essential Innovations Technology Corp.
BELLINGHAM, Wash., May 19 - Essential Innovations Technology Corp. (OTCBB: ESIV; FRANKFURT: E6S) is truly pleased to announce that it has successfully closed and funded a financing in the form of a convertible secured note in the amount of $1,750,000 USD.
The proceeds invested in the Company from the sale of a fixed price, interest-bearing, convertible term note, will be used to pay down existing debt, purchase raw materials, structure an interest escrow account for service of the note, and to provide overall general working capital. This investment not only allows the Company to focus on the production and delivery fulfillment of a significant amount of current units orders, but it further supports the rapid and steady growth plan for the manufacturing and distribution activities for it's proprietary Geoexchange heat pump technology.
"This recent funding is truly representative of the high level of confidence that exists from the investment community in our technology, our people, our industry and our organization. The business relationships we have now solidified over this last year, most particularly in relation to the sales and distribution of our EI Elemental Geoexchange product line, provided us with the necessary validation of our overall business case to gain the on-going support of our lender as is clearly represented by this substantial investment. As negotiations in relation to a larger equity financing now continue forth with numerous parties both domestically and internationally, this recent $1,750,000 investment has provided a wonderful catalyst to drive our business and to continue to prove to those in the capital markets and throughout the industry that we have positioned ourselves to be one of the true Geoexchange leaders in the World today," stated Jason McDiarmid, President/CEO.
With regards to additional financing, the Company remains engaged in multiple discussions and negotiations with other outside investment sources and/or strategic business partnership candidates with the goal to facilitate a large straight equity financing in the latter part of 2008/early 2009. The proceeds of such future financing would allow the Company to further expand global operations, move in to full-scale international production and distribution of it's Geoexchange product line, launch a widespread sales and marketing campaign, entirely take-out existing senior secured debt, continue to seek further ESCO project opportunities and to provide significant on-going working capital.
Essential Innovations Technology Corp. provides cutting-edge Geoexchange solutions for residential, commercial and industrial applications as both a Geoexchange energy service company and as a manufacturer of proprietary geothermal heat pump technology. The Company was incorporated in April 2001, and it has four wholly owned subsidiaries located in British Columbia, Canada and in Hong Kong, SAR, China.
Geoexchange technology harnesses the earth's clean, renewable thermal energy stored just below the surface or in large bodies of water for purposes of heating, cooling, domestic hot water and/or dehumidification. A Geoexchange system is used to "exchange" the earth's natural heating and cooling properties between a building and the ground. This non-combustion transfer of energy is the source of performance and environmental superiority, as Geoexchange systems need only a small amount of electrical energy to then capture, move and concentrate a large amount of free energy provided by the earth.
Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such forward-looking statements involve risks and uncertainties. These statements include, but are not limited to, statements that do not describe historical facts and statements that include the word "believes," "anticipates," "expects," "plans," "intends," "designs," "projects" or similar language, as well as statements regarding consumer or marketplace acceptance of the Company's new or existing products; comments concerning marketing and consumer acceptance of proprietary products; the potential benefits of Essential Innovations' products; initiatives undertaken by the Essential Innovations' divisions; the Company's research, manufacturing and facilities expansion programs; and the Company's growth, revenue, or projected earnings; all such statements which may or may not occur in the future. These forward-looking statements are made as of the date of this news release, and Essential Innovations Technology Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no absolute assurance that such belief, plans, expectations or intentions will prove to be completely accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our periodic reports filed from time to time with the Securities and Exchange Commission.
Essential Innovations Technology is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
For full details, click here: http://www.renewableenergystocks.com/CO/ESIV/Default.asp
Source: Essential Innovations Technology Corp.
XsunX Announces Agreement with Praxair, Securing Key Manufacturing Facility Gas Needs
XsunX Announces Agreement with Praxair, Securing Key Manufacturing Facility Gas Needs
ALISO VIEJO, Calif., May 19, 2008 - XsunX, Inc. (OTCBB: XSNX), a solar technology company, announced today that it has signed an agreement with Praxair, Inc. (NYSE: PX - News) for the supply of bulk industrial gases for its new multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facility near Portland, Oregon. XsunX is refurbishing an existing 90,000 sq. ft. building, located in Wood Village, to house its integrated TFPV manufacturing operations.
Praxair is a leading producer of industrial gases in North America and is uniquely positioned to meet the requirements for reliable supply of all gases required. "XsunX joins a growing number of customers that value Praxair's capabilities to reliably supply high-purity gases, sputtering targets and services for the PV industry. We look forward to supporting XsunX's production of PV modules and to help drive efficiencies in their operations," said Ray Roberge, president, Praxair Electronics.
"The agreement will provide for Praxair's expertise in the design, installation, and management of our gas handling and delivery systems and a long term contract to supply the bulk of our manufacturing gas needs," stated Mr. Tom Djokovich, CEO for XsunX. "We are pleased that such a major part of the integrated thin film TFPV manufacturing process is in good hands. Having secured gas supplies with Praxair to support a large part of our thin film TFPV manufacturing processes, we have begun to meet our short and mid term goals in the build out and supply of our multi-megawatt thin film photovoltaic solar manufacturing facility," concluded Djokovich.
About Praxair, Inc.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2007 sales of $9.4 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.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.
For more information about XsunX, please visit www.XsunX.com
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., May 19, 2008 - XsunX, Inc. (OTCBB: XSNX), a solar technology company, announced today that it has signed an agreement with Praxair, Inc. (NYSE: PX - News) for the supply of bulk industrial gases for its new multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facility near Portland, Oregon. XsunX is refurbishing an existing 90,000 sq. ft. building, located in Wood Village, to house its integrated TFPV manufacturing operations.
Praxair is a leading producer of industrial gases in North America and is uniquely positioned to meet the requirements for reliable supply of all gases required. "XsunX joins a growing number of customers that value Praxair's capabilities to reliably supply high-purity gases, sputtering targets and services for the PV industry. We look forward to supporting XsunX's production of PV modules and to help drive efficiencies in their operations," said Ray Roberge, president, Praxair Electronics.
"The agreement will provide for Praxair's expertise in the design, installation, and management of our gas handling and delivery systems and a long term contract to supply the bulk of our manufacturing gas needs," stated Mr. Tom Djokovich, CEO for XsunX. "We are pleased that such a major part of the integrated thin film TFPV manufacturing process is in good hands. Having secured gas supplies with Praxair to support a large part of our thin film TFPV manufacturing processes, we have begun to meet our short and mid term goals in the build out and supply of our multi-megawatt thin film photovoltaic solar manufacturing facility," concluded Djokovich.
About Praxair, Inc.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2007 sales of $9.4 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.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.
For more information about XsunX, please visit www.XsunX.com
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.
Thursday, May 15, 2008
Rotoblock (OTCBB:ROTB) Inspires Innovation for the 100-Year-Old Internal Combustion Engine
Rotoblock (OTCBB:ROTB) Inspires Innovation for the 100-Year-Old Internal Combustion Engine
SANTA ROSA, Calif.--May 15 2008 --For the past 100 years there has been relatively little innovation in the Internal Combustion Engine (ICE), but with gas prices at record highs and the economy squeezing average Americans, engine developer Rotoblock, Inc. (OTCBB: ROTB.OB) has a new innovation called the Oscillating Piston Engine (OPE).
Not since Ernest Godwin developed his Economizer in 1908 have experts recognized any remarkable innovation in Internal Combustion Engine (ICE) technology. Online encyclopedia Wikipedia lists the year 1908 as the last milestone in their overview on the history of the ICE.
With gas-electric hybrids quickly becoming the fastest-selling cars in America, the future of the ICE seems uncertain. Some major automakers are even predicting in the future all their models may be hybrid or electric. While the days of the ICE seemed to be numbered, Rotoblock, a small startup in Northern California, still believes in pistons.
Rotoblock has patented what is called the Oscillating Piston Engine, which they believe can increase the power-to-weight ratio by up to four times that of today's ICE. What's more, they are researching other drive train and power delivery technologies that may increase the efficiency of thousands of today's consumer products exponentially. The Company has attracted an ambitious new management team led by a Chinese-American entrepreneur who is exploring new business opportunities in China that can bring the Oscillating Piston Engine and other technologies to world markets.
An Oscillating Piston Engine (OPE), unlike the standard ICE, incorporates four pairs of pistons. Each piston is a segmented toroidal section traveling within the closed toroidal chamber of a rotating cylinder block. The combustion chamber is formed between each pair of pistons and as they rotate these pistons oppose each other creating a four-cycle interaction of combustion and exhaust. The repetition of these four combustion cycles produces sixteen power strokes for each revolution of the cylinder block. For a detailed explanation of the technology, visit Rotoblock's website at http://www.rotoblock.com.
What this could mean for the average user of a gas engine is that, with a Rotoblock OPE, fill-ups could be once a month instead of every week.
About Rotoblock Corporation -- Rotoblock is focused on the development and manufacturing of small engines and other energy-efficient and environmental equipment in China for distribution worldwide. The Company was incorporated in Nevada and is headquartered in Santa Rosa, California. Rotoblock 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.
Rotoblock Corporation is a featured showcase company on Investorideas.com and Renewableenergystocks.com - visit the company showcase media page :
http://www.investorideas.com/CO/ROTB/Default.asp
Disclaimer/disclosure: http://www.investorideas.com/About/Disclaimer.asp
Safe Harbour For Forward-Looking Statements
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 CorporationTony R. Collins, 877-511-0110 (Toll Free)
SANTA ROSA, Calif.--May 15 2008 --For the past 100 years there has been relatively little innovation in the Internal Combustion Engine (ICE), but with gas prices at record highs and the economy squeezing average Americans, engine developer Rotoblock, Inc. (OTCBB: ROTB.OB) has a new innovation called the Oscillating Piston Engine (OPE).
Not since Ernest Godwin developed his Economizer in 1908 have experts recognized any remarkable innovation in Internal Combustion Engine (ICE) technology. Online encyclopedia Wikipedia lists the year 1908 as the last milestone in their overview on the history of the ICE.
With gas-electric hybrids quickly becoming the fastest-selling cars in America, the future of the ICE seems uncertain. Some major automakers are even predicting in the future all their models may be hybrid or electric. While the days of the ICE seemed to be numbered, Rotoblock, a small startup in Northern California, still believes in pistons.
Rotoblock has patented what is called the Oscillating Piston Engine, which they believe can increase the power-to-weight ratio by up to four times that of today's ICE. What's more, they are researching other drive train and power delivery technologies that may increase the efficiency of thousands of today's consumer products exponentially. The Company has attracted an ambitious new management team led by a Chinese-American entrepreneur who is exploring new business opportunities in China that can bring the Oscillating Piston Engine and other technologies to world markets.
An Oscillating Piston Engine (OPE), unlike the standard ICE, incorporates four pairs of pistons. Each piston is a segmented toroidal section traveling within the closed toroidal chamber of a rotating cylinder block. The combustion chamber is formed between each pair of pistons and as they rotate these pistons oppose each other creating a four-cycle interaction of combustion and exhaust. The repetition of these four combustion cycles produces sixteen power strokes for each revolution of the cylinder block. For a detailed explanation of the technology, visit Rotoblock's website at http://www.rotoblock.com.
What this could mean for the average user of a gas engine is that, with a Rotoblock OPE, fill-ups could be once a month instead of every week.
About Rotoblock Corporation -- Rotoblock is focused on the development and manufacturing of small engines and other energy-efficient and environmental equipment in China for distribution worldwide. The Company was incorporated in Nevada and is headquartered in Santa Rosa, California. Rotoblock 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.
Rotoblock Corporation is a featured showcase company on Investorideas.com and Renewableenergystocks.com - visit the company showcase media page :
http://www.investorideas.com/CO/ROTB/Default.asp
Disclaimer/disclosure: http://www.investorideas.com/About/Disclaimer.asp
Safe Harbour For Forward-Looking Statements
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 CorporationTony R. Collins, 877-511-0110 (Toll Free)
Wednesday, May 14, 2008
Sector Close-Up on Solar Stocks; J.Peter Lynch Reports, “Solar Stocks have Surprised the Street and Beaten Estimates, Some by a Wide Margin”
Renewable Energy Stocks Sector Close-Up on Solar Stocks; J.Peter Lynch Reports, “Solar Stocks have Surprised the Street and Beaten Estimates, Some by a Wide Margin”
Canadian Solar Inc. Leads Sector with Earnings Report and Robust Market Demand for Products
POINT ROBERTS, WA and DELTA, BC—May 14, 2008 -- www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within www.Investorideas.com, presents a sector close-up on recent developments and trends in the solar industry and related solar stocks. Insight and commentary features: Canadian Solar Inc., Clear Skies Solar, Inc. (OTCBB: CSKH), XsunX Inc. (OTCBB: XSNX), J.Peter Lynch and Dr. Robert Wilder, CEO and Founder of The Wilderhill Clean Energy Index.
Solar Stocks Sector Close-Up:
*As of May 13, 2008
Canadian Solar Inc. was up $6.68 (19.59%) on reported preliminary unaudited US GAAP financial information for the first quarter ended March 31, 2008. Net revenues for the quarter were $171.2 million (including $2.2 million of silicon material sales), compared to net revenues of $17.5 million for the first quarter of 2007 (including $2.8 million of silicon materials sales) and $127.5 million for the fourth quarter of 2007 (including $2.4 million of silicon materials sales). Net income for the quarter was $19.0 million, or $0.61 per diluted share, compared to a net loss of $3.9 million, or $0.14 per diluted share, for the first quarter of 2007 and net income of $5.9 million, or $0.21 per diluted share, for the fourth quarter of 2007.
In a press release issued by the company, Dr. Shawn Qu, Chairman and CEO, commented,
" Our impressive performance in the first quarter was due to a result of robust market demand for our products, strong pricing, effective management of foreign exchange exposure, strong operational execution of our flexible vertical integration business model, and our balanced supply strategy, which allowed us to increase our product delivery despite a general market shortage of silicon materials.”
The Claymore/MAC Global Solar Energy ETF that tracks an index of 25 global solar companies was up $0.84 (3.16%) as of the end of trading.
Dr. Robert Wilder, CEO and Founder of the Wilderhill Clean Energy Index noted, “A couple of fairly different, conflicting factors are impacting solar power right now: in Europe the ongoing demand from Germany plus more recent entrants like Spain are helping push sales globally. On the other hand looking at the domestic picture, a key Federal tax credit for wind and solar that probably should have been passed in the U.S. some months ago has continued to be held up. Here the Bush Administration has opposed allowing the subsidies now given to oil, to instead be switched to renewables. So companies exporting solar panels from low-cost regions like China, to high demand Europe are faring rather well. By contrast the U.S., which once was the global leader in solar power continues to face headwinds with our domestic manufacturers finding better growth in technological innovation areas like thin films. There is some hope however that more favorable State policies, such as in California will begin to be embraced next year in a faster-evolving Federal solar policy at the national level. “
The Wilderhill Clean Energy Index was up $5.08 (2.30%) at the close May 13, 2008.
Tom Djokovich, CEO, of California based XsunX, Inc.(OTCBB: XSNX) reports , “This year we began executing plans developed last year, to build a thin film amorphous solar module manufacturing facility. Recently we secured a 90,000 sq. ft. facility in Portland OR, to house our first 25MW with over $1 million of nearly new manufacturing support infrastructure in place, and we’re working to finalizing several important material supply contracts. While we’ve been working to get our commercial production ready for first quarter 2009 it appears that the industry has begun to take notice of the superior solar absorbing qualities of amorphous silicon. Several other companies have begun announcing their move towards amorphous and I believe that this lends credibility to the path we have taken.”
CEO Ezra Green, provides insight from his solar company with, “At Clear Skies Solar (OTCBB:CSKH) we're seeing an increase in inquiries and business not only from large US Corporations who are looking for ways to minimize utility expenses, but also from countries such as Spain and Greece and developing countries like India seeking viable energy solutions. We are even being approached by commercial farmers trying to reduce their carbon footprints. In addition, with our own internal research and development department, we're also able to keep ahead of the curve in providing innovative technologies for solar energy users. Clear Skies Solar's XTRAX®, which delivers reliable autonomous data readings for solar energy systems around the United States, is just one example of the innovative new products we are bringing to market.”
Clear Skies Solar (OTCBB: CSKH) closed up 14.81 % at market close.
According to solar expert J.Peter Lynch, “Solar Stocks have again surprised the street and beaten estimates, some by a wide margin. I do expect that the industry will see some margin pressures in 2009, but for now solar stocks have regained momentum and are for the most part technically strong.”
“As you can see from the table below. Most of the stocks are above their short- term technical support (50 -day moving average) as well as, their longer term technical support (200 -day moving average). Momentum is strong and they appear to be coming back from their recent correction.”
US Photovoltaic Related Stocks:
*As of Market data May13, 2008
Name Recent Price 50 Day MA 200 Day MA
Akeena Solar, Inc. 5.2 6.658 6.797
Ascent Solar Technologies, Inc. 15.26 14.285 15.146
Canadian Solar Inc. 34.1 23.652 17.026
China Sunergy Company Ltd. 9.94 8.196 9.141
Distributed Energy Systems Corp. 0.44 0.478 0.601
DayStar Technologies Inc. 4.04 3.188 4.09
EMCORE Corporation 6.92 7.425 9.659
Energy Conversion Devices Inc 51.62 31.343 28.395
Evergreen Solar, Inc. 8.21 9.191 10.81
First Solar, Inc. 284.84 249.255 188.353
JA Solar Holdings Co., Ltd 22.1 19.963 17.732
LDK Solar Company Ltd. 37.46 29.619 40.254
ReneSola, Ltd. (United Kingdom) ADR 18.83 13.125 12.733
Solarfun Power Holdings Co. 14.94 12.925 15.319
Spire Corporation 13.71 14.753 15.806
Sunpower Corporation 84.4 78.013 89.574
Suntech Power Holdings 41.6 40.976 50.162
Trina Solar Limited 41.6 36.584 44.772
MEMC Electronic Materials, Inc. 67.44 74.049 70.417
Yingli Green Energy Holding Company Limited 22.58 19.429 24.074
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTC BB: CSKH) through its wholly owned subsidiary provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across 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 Inc.(OTCBB: XSNX) is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. More info can be found on the Investorideas.com Company Showcase, or the company website at http://www.xsunx.com/.
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. Disclosure: 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: Investorideas.com, RenewableEnergyStocks.com, XsunX, Clear Skies Solar
Canadian Solar Inc. Leads Sector with Earnings Report and Robust Market Demand for Products
POINT ROBERTS, WA and DELTA, BC—May 14, 2008 -- www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within www.Investorideas.com, presents a sector close-up on recent developments and trends in the solar industry and related solar stocks. Insight and commentary features: Canadian Solar Inc., Clear Skies Solar, Inc. (OTCBB: CSKH), XsunX Inc. (OTCBB: XSNX), J.Peter Lynch and Dr. Robert Wilder, CEO and Founder of The Wilderhill Clean Energy Index.
Solar Stocks Sector Close-Up:
*As of May 13, 2008
Canadian Solar Inc. was up $6.68 (19.59%) on reported preliminary unaudited US GAAP financial information for the first quarter ended March 31, 2008. Net revenues for the quarter were $171.2 million (including $2.2 million of silicon material sales), compared to net revenues of $17.5 million for the first quarter of 2007 (including $2.8 million of silicon materials sales) and $127.5 million for the fourth quarter of 2007 (including $2.4 million of silicon materials sales). Net income for the quarter was $19.0 million, or $0.61 per diluted share, compared to a net loss of $3.9 million, or $0.14 per diluted share, for the first quarter of 2007 and net income of $5.9 million, or $0.21 per diluted share, for the fourth quarter of 2007.
In a press release issued by the company, Dr. Shawn Qu, Chairman and CEO, commented,
" Our impressive performance in the first quarter was due to a result of robust market demand for our products, strong pricing, effective management of foreign exchange exposure, strong operational execution of our flexible vertical integration business model, and our balanced supply strategy, which allowed us to increase our product delivery despite a general market shortage of silicon materials.”
The Claymore/MAC Global Solar Energy ETF that tracks an index of 25 global solar companies was up $0.84 (3.16%) as of the end of trading.
Dr. Robert Wilder, CEO and Founder of the Wilderhill Clean Energy Index noted, “A couple of fairly different, conflicting factors are impacting solar power right now: in Europe the ongoing demand from Germany plus more recent entrants like Spain are helping push sales globally. On the other hand looking at the domestic picture, a key Federal tax credit for wind and solar that probably should have been passed in the U.S. some months ago has continued to be held up. Here the Bush Administration has opposed allowing the subsidies now given to oil, to instead be switched to renewables. So companies exporting solar panels from low-cost regions like China, to high demand Europe are faring rather well. By contrast the U.S., which once was the global leader in solar power continues to face headwinds with our domestic manufacturers finding better growth in technological innovation areas like thin films. There is some hope however that more favorable State policies, such as in California will begin to be embraced next year in a faster-evolving Federal solar policy at the national level. “
The Wilderhill Clean Energy Index was up $5.08 (2.30%) at the close May 13, 2008.
Tom Djokovich, CEO, of California based XsunX, Inc.(OTCBB: XSNX) reports , “This year we began executing plans developed last year, to build a thin film amorphous solar module manufacturing facility. Recently we secured a 90,000 sq. ft. facility in Portland OR, to house our first 25MW with over $1 million of nearly new manufacturing support infrastructure in place, and we’re working to finalizing several important material supply contracts. While we’ve been working to get our commercial production ready for first quarter 2009 it appears that the industry has begun to take notice of the superior solar absorbing qualities of amorphous silicon. Several other companies have begun announcing their move towards amorphous and I believe that this lends credibility to the path we have taken.”
CEO Ezra Green, provides insight from his solar company with, “At Clear Skies Solar (OTCBB:CSKH) we're seeing an increase in inquiries and business not only from large US Corporations who are looking for ways to minimize utility expenses, but also from countries such as Spain and Greece and developing countries like India seeking viable energy solutions. We are even being approached by commercial farmers trying to reduce their carbon footprints. In addition, with our own internal research and development department, we're also able to keep ahead of the curve in providing innovative technologies for solar energy users. Clear Skies Solar's XTRAX®, which delivers reliable autonomous data readings for solar energy systems around the United States, is just one example of the innovative new products we are bringing to market.”
Clear Skies Solar (OTCBB: CSKH) closed up 14.81 % at market close.
According to solar expert J.Peter Lynch, “Solar Stocks have again surprised the street and beaten estimates, some by a wide margin. I do expect that the industry will see some margin pressures in 2009, but for now solar stocks have regained momentum and are for the most part technically strong.”
“As you can see from the table below. Most of the stocks are above their short- term technical support (50 -day moving average) as well as, their longer term technical support (200 -day moving average). Momentum is strong and they appear to be coming back from their recent correction.”
US Photovoltaic Related Stocks:
*As of Market data May13, 2008
Name Recent Price 50 Day MA 200 Day MA
Akeena Solar, Inc. 5.2 6.658 6.797
Ascent Solar Technologies, Inc. 15.26 14.285 15.146
Canadian Solar Inc. 34.1 23.652 17.026
China Sunergy Company Ltd. 9.94 8.196 9.141
Distributed Energy Systems Corp. 0.44 0.478 0.601
DayStar Technologies Inc. 4.04 3.188 4.09
EMCORE Corporation 6.92 7.425 9.659
Energy Conversion Devices Inc 51.62 31.343 28.395
Evergreen Solar, Inc. 8.21 9.191 10.81
First Solar, Inc. 284.84 249.255 188.353
JA Solar Holdings Co., Ltd 22.1 19.963 17.732
LDK Solar Company Ltd. 37.46 29.619 40.254
ReneSola, Ltd. (United Kingdom) ADR 18.83 13.125 12.733
Solarfun Power Holdings Co. 14.94 12.925 15.319
Spire Corporation 13.71 14.753 15.806
Sunpower Corporation 84.4 78.013 89.574
Suntech Power Holdings 41.6 40.976 50.162
Trina Solar Limited 41.6 36.584 44.772
MEMC Electronic Materials, Inc. 67.44 74.049 70.417
Yingli Green Energy Holding Company Limited 22.58 19.429 24.074
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTC BB: CSKH) through its wholly owned subsidiary provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across 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 Inc.(OTCBB: XSNX) is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. More info can be found on the Investorideas.com Company Showcase, or the company website at http://www.xsunx.com/.
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. Disclosure: 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: Investorideas.com, RenewableEnergyStocks.com, XsunX, Clear Skies Solar
Tuesday, May 13, 2008
Canadian Solar Reports First Quarter 2008 Results
Canadian Solar Reports First Quarter 2008 Results
JIANGSU, China, May 13 2008 -- Canadian Solar Inc.(Nasdaq: CSIQ) today reported its preliminary unaudited US GAAP financial information for the first quarter ended March 31, 2008.
Net revenues for the quarter were $171.2 million (including $2.2 million of silicon material sales), compared to net revenues of $17.5 million for the first quarter of 2007 (including $2.8 million of silicon materials sales) and $127.5 million for the fourth quarter of 2007 (including $2.4 million of silicon materials sales). Net income for the quarter was $19.0 million, or $0.61 per diluted share, compared to a net loss of $3.9 million, or $0.14 per diluted share, for the first quarter of 2007 and net income of $5.9 million, or $0.21 per diluted share, for the fourth quarter of 2007. If share-based compensation expenses of $2.2 million were excluded, non-GAAP net income for the quarter would have been $21.2 million, or $0.65 per diluted share.
Dr. Shawn Qu, Chairman and CEO of CSI, commented: "I am very pleased with our first quarter results and proud to say that our team has now achieved four consecutive quarters of revenue growth and profit margin improvement. Our impressive performance in the first quarter was due to a result of robust market demand for our products, strong pricing, effective management of foreign exchange exposure, strong operational execution of our flexible vertical integration business model, and our balanced supply strategy, which allowed us to increase our product delivery despite a general market shortage of silicon materials. In Q1, we significantly increased our internal solar cell production, which resulted in a positive impact on our bottom line. Our new Changshu solar module plant was completed on schedule during the quarter. This gave us the ability to quickly increase shipments in March following the severe weather conditions earlier in the year. Deliveries from most of our strategic suppliers are now generally on track."
Bing Zhu, CFO of CSI, noted: "We delivered on our promise to improve our gross margins and we were able to increase diluted earnings per share by close to 200% compared with Q4 2007 due to our disciplined financial management and continued operational efficiency. The significant upside to our bottom line was mainly contributed by three factors -- strong pricing, the strong Euro vs. USD, and our internal cost cutting. Although the large foreign exchange gain is likely a one-time event, we believe that the other factors will remain positive, and will, therefore, help us maintain a similar level of profitability going forward."
Revenue by Geography (US $ millions)
Q108 Q407 Q107 Region Revenue % Revenue % Revenue % Europe 167.6 97.9% 124.1 97.3% 12.1 69.4% Asia 2.4 1.4% 2.9 2.3% 3.3 18.9% Americas 1.2 0.7% 0.5 0.4% 2.1 11.7% Total Net 171.2 100% 127.5 100% 17.5 100% Revenue
Note: Asian revenue included $2.2 million of silicon materials sales in the first quarter of 2008 and $2.4 million of silicon materials sales in the fourth quarter of 2007.
Recent Developments
We commenced commercial production of e-Modules, a cost-effective medium power solar module product using 100% upgraded metallurgical grade (UMG) silicon, in March. We converted one of our solar cell lines and dedicated it to UMG cells in early April and ramped up to full production shortly thereafter. We have produced approximately one MW of UMG cells over the past four weeks. We believe that we have so far achieved the technical and economic parameters which we preset for the ramp up phase. Delivery of e-Modules to our European and US customers started in early May. We believe that we are on track to achieve our prior estimate of shipping 30-40MW of e-Modules in 2008.
Outlook
Dr. Qu continued: "We also believe that we are on track to achieve our prior guidance of shipping 200 -220MW of regular solar modules in 2008, not including shipments of e-Modules, and to continue our record of quarter over quarter revenue growth. We intend to continue our long-term and proven supply chain strategy of combining internal solar wafer and cell production with direct purchasing from a select number of long-term strategic wafer and cell suppliers. We expect that many of the positive market trends that we witnessed in Q1 will continue for the rest of the year, and believe that the gross margin that we were able to achieve in Q1 bodes well for our ability to achieve our 13% - 15% gross margin target for the year."
Net revenue for Q208 is expected to be in the range of $185 - $190 million, with non-GAAP net income, determined by excluding share based compensation expenses, expected to be in the range of $17 - $18 million. Shipments for Q208 are expected to be approximately 45MW, including some tolling business.
Looking ahead to 2009, if all of our long-term supply contracts are fully implemented, we will have access to 200MW of regular polysilicon and wafers. Based on our strong position as a worldwide photovoltaic solar module supplier and the expansion plans of our strategic partners, we believe that we should be able to secure an additional 200MW of regular polysilicon and wafers, thereby enabling us to produce approximately 400MW of regular photovoltaic solar modules. In addition, we expect to produce 100 - 150MW of UMG silicon products in 2009.
Investor Conference Call / Webcast Details
A conference call has been scheduled for 8:00 p.m. on Tuesday, May 13, 2008 (in Jiangsu). This will be 8:00 a.m. on Tuesday, May 13, 2008 in New York. During the call, time will be set-aside for analysts and interested investors to ask questions of senior executive officers of the Company.
The call may be accessed by dialing: +1-800-688-0836 (domestic) or +1-617- 614-4072 (international). The passcode to access the call is: 98964967. A replay of the call will be available starting one hour after the call and continuing until 10:00 p.m. on Tuesday, May 20, 2008 (in Jiangsu) or 10:00 a.m. on Tuesday, May 10, 2008 (in New York) at http://www.csisolar.com and by telephone at 1-888-286-8010 (domestic) or +1-617-801-6888 (international). The passcode to access the replay is: 11545239.
About Canadian Solar Inc. (Nasdaq: CSIQ)
Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving customers worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.csisolar.com .
JIANGSU, China, May 13 2008 -- Canadian Solar Inc.(Nasdaq: CSIQ) today reported its preliminary unaudited US GAAP financial information for the first quarter ended March 31, 2008.
Net revenues for the quarter were $171.2 million (including $2.2 million of silicon material sales), compared to net revenues of $17.5 million for the first quarter of 2007 (including $2.8 million of silicon materials sales) and $127.5 million for the fourth quarter of 2007 (including $2.4 million of silicon materials sales). Net income for the quarter was $19.0 million, or $0.61 per diluted share, compared to a net loss of $3.9 million, or $0.14 per diluted share, for the first quarter of 2007 and net income of $5.9 million, or $0.21 per diluted share, for the fourth quarter of 2007. If share-based compensation expenses of $2.2 million were excluded, non-GAAP net income for the quarter would have been $21.2 million, or $0.65 per diluted share.
Dr. Shawn Qu, Chairman and CEO of CSI, commented: "I am very pleased with our first quarter results and proud to say that our team has now achieved four consecutive quarters of revenue growth and profit margin improvement. Our impressive performance in the first quarter was due to a result of robust market demand for our products, strong pricing, effective management of foreign exchange exposure, strong operational execution of our flexible vertical integration business model, and our balanced supply strategy, which allowed us to increase our product delivery despite a general market shortage of silicon materials. In Q1, we significantly increased our internal solar cell production, which resulted in a positive impact on our bottom line. Our new Changshu solar module plant was completed on schedule during the quarter. This gave us the ability to quickly increase shipments in March following the severe weather conditions earlier in the year. Deliveries from most of our strategic suppliers are now generally on track."
Bing Zhu, CFO of CSI, noted: "We delivered on our promise to improve our gross margins and we were able to increase diluted earnings per share by close to 200% compared with Q4 2007 due to our disciplined financial management and continued operational efficiency. The significant upside to our bottom line was mainly contributed by three factors -- strong pricing, the strong Euro vs. USD, and our internal cost cutting. Although the large foreign exchange gain is likely a one-time event, we believe that the other factors will remain positive, and will, therefore, help us maintain a similar level of profitability going forward."
Revenue by Geography (US $ millions)
Q108 Q407 Q107 Region Revenue % Revenue % Revenue % Europe 167.6 97.9% 124.1 97.3% 12.1 69.4% Asia 2.4 1.4% 2.9 2.3% 3.3 18.9% Americas 1.2 0.7% 0.5 0.4% 2.1 11.7% Total Net 171.2 100% 127.5 100% 17.5 100% Revenue
Note: Asian revenue included $2.2 million of silicon materials sales in the first quarter of 2008 and $2.4 million of silicon materials sales in the fourth quarter of 2007.
Recent Developments
We commenced commercial production of e-Modules, a cost-effective medium power solar module product using 100% upgraded metallurgical grade (UMG) silicon, in March. We converted one of our solar cell lines and dedicated it to UMG cells in early April and ramped up to full production shortly thereafter. We have produced approximately one MW of UMG cells over the past four weeks. We believe that we have so far achieved the technical and economic parameters which we preset for the ramp up phase. Delivery of e-Modules to our European and US customers started in early May. We believe that we are on track to achieve our prior estimate of shipping 30-40MW of e-Modules in 2008.
Outlook
Dr. Qu continued: "We also believe that we are on track to achieve our prior guidance of shipping 200 -220MW of regular solar modules in 2008, not including shipments of e-Modules, and to continue our record of quarter over quarter revenue growth. We intend to continue our long-term and proven supply chain strategy of combining internal solar wafer and cell production with direct purchasing from a select number of long-term strategic wafer and cell suppliers. We expect that many of the positive market trends that we witnessed in Q1 will continue for the rest of the year, and believe that the gross margin that we were able to achieve in Q1 bodes well for our ability to achieve our 13% - 15% gross margin target for the year."
Net revenue for Q208 is expected to be in the range of $185 - $190 million, with non-GAAP net income, determined by excluding share based compensation expenses, expected to be in the range of $17 - $18 million. Shipments for Q208 are expected to be approximately 45MW, including some tolling business.
Looking ahead to 2009, if all of our long-term supply contracts are fully implemented, we will have access to 200MW of regular polysilicon and wafers. Based on our strong position as a worldwide photovoltaic solar module supplier and the expansion plans of our strategic partners, we believe that we should be able to secure an additional 200MW of regular polysilicon and wafers, thereby enabling us to produce approximately 400MW of regular photovoltaic solar modules. In addition, we expect to produce 100 - 150MW of UMG silicon products in 2009.
Investor Conference Call / Webcast Details
A conference call has been scheduled for 8:00 p.m. on Tuesday, May 13, 2008 (in Jiangsu). This will be 8:00 a.m. on Tuesday, May 13, 2008 in New York. During the call, time will be set-aside for analysts and interested investors to ask questions of senior executive officers of the Company.
The call may be accessed by dialing: +1-800-688-0836 (domestic) or +1-617- 614-4072 (international). The passcode to access the call is: 98964967. A replay of the call will be available starting one hour after the call and continuing until 10:00 p.m. on Tuesday, May 20, 2008 (in Jiangsu) or 10:00 a.m. on Tuesday, May 10, 2008 (in New York) at http://www.csisolar.com and by telephone at 1-888-286-8010 (domestic) or +1-617-801-6888 (international). The passcode to access the replay is: 11545239.
About Canadian Solar Inc. (Nasdaq: CSIQ)
Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving customers worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.csisolar.com .
Monday, May 12, 2008
XsunX Thin Film Solar Module Manufacturing Facility Sublease Approved and Renovations Underway
XsunX Thin Film Solar Module Manufacturing Facility Sublease Approved and Renovations Underway
ALISO VIEJO, Calif., May 12, 2008 - XsunX, Inc. (OTCBB: XSNX), a solar technology Company engaged in the build-out of its multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facilities, announced today that the sublease of its new manufacturing facilities has been approved by the primary landlord, and that demolition work to remove unnecessary and obstructive infrastructure commenced the week of May 5th.
This demolition work is required to prepare the facility for XsunX improvements specific to its TFPV manufacturing processes. The Company has scheduled demolition to be completed in July with facility improvements scheduled to begin immediately thereafter.
The existing 90,000 square foot building, located in the City of Wood Village just east of Portland, Oregon, provides XsunX with extensive industrial manufacturing infrastructure including multiple clean air management systems, emergency power generation system, over 200 tons of water chilling capabilities, water purification and vacuum systems for substrate cleaning, and extensive air support systems to manage heat produced from TFPV manufacturing operations. XsunX has agreed to purchase these systems for approximately $112,000 along with a host of other industrial apparatus including support equipment such as office, networking, and telecommunications infrastructure.
"We are very pleased with the terms of our equipment purchase agreement and the capabilities of these relatively new systems." commented Mr. Joe Grimes, COO for XsunX. "We are continuing to benefit both financially and logistically from the selection of this manufacturing site. We have been busy moving our plans forward and in April, we completed architectural drawings outlining demolition requirements which received city building approval the week of May 5th. In conjunction, we are preparing our facility improvement plans which are scheduled to be completed by mid June. In an effort to achieve our growth plans, we have begun hiring staff in Oregon to supervise our facility renovations and to meet our staffing needs," concluded Grimes.
XsunX has hired an on-site Facilities Manager who is intimately familiar with the existing facilities and former operations. The Facility Manager will be an invaluable resource in supervising the preparation and subsequent operation of the facility for XsunX's TFPV manufacturing operations. The Company has also hired an on-site Human Resource Specialist to prepare and initiate hiring plans for adding a large number of employees to the XsunX team. The Company has also begun working with local community colleges to establish training programs and plans to announce on-site job fairs as work progresses.
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., May 12, 2008 - XsunX, Inc. (OTCBB: XSNX), a solar technology Company engaged in the build-out of its multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facilities, announced today that the sublease of its new manufacturing facilities has been approved by the primary landlord, and that demolition work to remove unnecessary and obstructive infrastructure commenced the week of May 5th.
This demolition work is required to prepare the facility for XsunX improvements specific to its TFPV manufacturing processes. The Company has scheduled demolition to be completed in July with facility improvements scheduled to begin immediately thereafter.
The existing 90,000 square foot building, located in the City of Wood Village just east of Portland, Oregon, provides XsunX with extensive industrial manufacturing infrastructure including multiple clean air management systems, emergency power generation system, over 200 tons of water chilling capabilities, water purification and vacuum systems for substrate cleaning, and extensive air support systems to manage heat produced from TFPV manufacturing operations. XsunX has agreed to purchase these systems for approximately $112,000 along with a host of other industrial apparatus including support equipment such as office, networking, and telecommunications infrastructure.
"We are very pleased with the terms of our equipment purchase agreement and the capabilities of these relatively new systems." commented Mr. Joe Grimes, COO for XsunX. "We are continuing to benefit both financially and logistically from the selection of this manufacturing site. We have been busy moving our plans forward and in April, we completed architectural drawings outlining demolition requirements which received city building approval the week of May 5th. In conjunction, we are preparing our facility improvement plans which are scheduled to be completed by mid June. In an effort to achieve our growth plans, we have begun hiring staff in Oregon to supervise our facility renovations and to meet our staffing needs," concluded Grimes.
XsunX has hired an on-site Facilities Manager who is intimately familiar with the existing facilities and former operations. The Facility Manager will be an invaluable resource in supervising the preparation and subsequent operation of the facility for XsunX's TFPV manufacturing operations. The Company has also hired an on-site Human Resource Specialist to prepare and initiate hiring plans for adding a large number of employees to the XsunX team. The Company has also begun working with local community colleges to establish training programs and plans to announce on-site job fairs as work progresses.
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.
Record Gas and Oil Prices Drive Sales for ZAP, Electric Car Orders Grow to $6.8 Million
Record Gas and Oil Prices Drive Sales for ZAP, Electric Car Orders Grow to $6.8 Million
SANTA ROSA, CA., May 12, 2008 - Record gas prices are driving more consumers to seek electric transportation, says industry pioneer ZAP (OTCBB: ZAAP). The Northern California Company reported that as of April 8, 2008 it had $6.8 million in backlog orders for the Xebra electric sedan and pickup from auto-dealer purchase contracts.
The $6.8 million backlog in dealer purchase contracts surpasses ZAP's sales for all of 2007 and are based on a delivery schedule over a 12-month period. The backlog for ZAP's consumer products on the same date was $712,000, including sales for the Zapino and ZAPPY3 scooters, ATVs, Recharge-It-All battery systems and others.
ZAP designed the Xebra as a simple alternative to the growing demand for electric cars. The vehicle is suitable for city-speed driving, commuting and fleet use, situations where electric vehicles can be more economical than gasoline cars.
"As I researched more into the EV market I found that the ZAP Xebra was the only production electric vehicle available that could obtain such speeds and actually be driven on regular roads contrary to the governed LSV," writes electric car dealer Jonathan Ortiz of Foreign Affairs Auto in West Palm Beach, Florida. "I began to understand there are literally hundreds of ideal applications and usages that the XEBRA could fill."
Ortiz was recently featured in an Internet podcast interview about electric car dealerships. Use the link below to hear the full interview:
http://s3.amazonaws.com/static.investorideas.com/podcasts/2008/dg042308.mp3
"My silly little ZAP truck gives me more satisfaction then any ICE I have ever owned, and I am a car buff," says electric vehicle dealer Sean Rarey of Grants Pass, Oregon. "I do not use gas unless I am going out-of-town. Honestly, I think the price of gas is contributing to the decline of our economy while big oil gets fatter and fatter off the profits."
ZAP is working to create a dealer network that for its full-line of electric vehicles and future vehicles as they become available. Surging consumer demand has seen ZAP's number of dealers grow from about 20 automotive dealers in April 2007 to over 50 today.
ZAP holds a monthly dealer training for the sales and service of the Xebra. The next dealer training is scheduled for May 30th with some dealers coming from as far away as New Zealand.
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.
This press release contains forward-looking statements. 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:
Alex Campbell
ZAP
707-525-8658 x 241
acampbell@zapworld.com
Source: ZAP
SANTA ROSA, CA., May 12, 2008 - Record gas prices are driving more consumers to seek electric transportation, says industry pioneer ZAP (OTCBB: ZAAP). The Northern California Company reported that as of April 8, 2008 it had $6.8 million in backlog orders for the Xebra electric sedan and pickup from auto-dealer purchase contracts.
The $6.8 million backlog in dealer purchase contracts surpasses ZAP's sales for all of 2007 and are based on a delivery schedule over a 12-month period. The backlog for ZAP's consumer products on the same date was $712,000, including sales for the Zapino and ZAPPY3 scooters, ATVs, Recharge-It-All battery systems and others.
ZAP designed the Xebra as a simple alternative to the growing demand for electric cars. The vehicle is suitable for city-speed driving, commuting and fleet use, situations where electric vehicles can be more economical than gasoline cars.
"As I researched more into the EV market I found that the ZAP Xebra was the only production electric vehicle available that could obtain such speeds and actually be driven on regular roads contrary to the governed LSV," writes electric car dealer Jonathan Ortiz of Foreign Affairs Auto in West Palm Beach, Florida. "I began to understand there are literally hundreds of ideal applications and usages that the XEBRA could fill."
Ortiz was recently featured in an Internet podcast interview about electric car dealerships. Use the link below to hear the full interview:
http://s3.amazonaws.com/static.investorideas.com/podcasts/2008/dg042308.mp3
"My silly little ZAP truck gives me more satisfaction then any ICE I have ever owned, and I am a car buff," says electric vehicle dealer Sean Rarey of Grants Pass, Oregon. "I do not use gas unless I am going out-of-town. Honestly, I think the price of gas is contributing to the decline of our economy while big oil gets fatter and fatter off the profits."
ZAP is working to create a dealer network that for its full-line of electric vehicles and future vehicles as they become available. Surging consumer demand has seen ZAP's number of dealers grow from about 20 automotive dealers in April 2007 to over 50 today.
ZAP holds a monthly dealer training for the sales and service of the Xebra. The next dealer training is scheduled for May 30th with some dealers coming from as far away as New Zealand.
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.
This press release contains forward-looking statements. 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:
Alex Campbell
ZAP
707-525-8658 x 241
acampbell@zapworld.com
Source: ZAP
Thursday, May 08, 2008
Akeena Solar Announces First Quarter 2008 Results
Akeena Solar Announces First Quarter 2008 Results
LOS GATOS, Calif.--May 8 2008 --Akeena Solar, Inc. (NASDAQ: AKNS), a leading designer and installer of solar power systems, today announced results for the first quarter of 2008.
“We delivered 95% revenue growth in the first quarter compared to the first quarter of 2007, as expected, on the strength of an increase in both residential and commercial projects. Many of these installations are with Andalay, our proprietary solar panel system. The rollout of Andalay is proceeding extremely well and customers continue to respond very positively to the systems’ reliability and performance benefits. In addition, Andalay is now reaching customers in Europe through our license arrangement with Suntech,” said Barry Cinnamon, president and chief executive officer of Akeena Solar.
“Although installations were at a record level this quarter and customer inquiries were also at a record high, bookings did not keep pace. Since the beginning of the second quarter we have seen signs that a looming recession and tightening credit are weighing on consumers’ decisions to invest in residential solar installations – even with the price of energy skyrocketing. In addition, the uncertainty surrounding the extension of the federal investment tax credit (ITC) is restricting the availability of financing for future commercial projects,” continued Cinnamon. “We now expect demand for the rest of the year to be weaker than we had originally envisioned and full year revenue to grow by 40% to 50% over last year.
“To responsibly manage the business while demand remains weak, we have taken actions to reduce costs across the board,” added Cinnamon. “We are taking steps to streamline the organization, reduce headcount and redeploy assets to higher performing locations. The full benefit of these reductions will be apparent in the third quarter. Moreover, the ongoing rollout of Andalay is continuing to yield productivity improvements.”
Concluded Cinnamon, “In the short term, the recession and ITC uncertainty will dampen investments in solar power; in the medium term, the escalating cost of energy will only serve to stimulate demand. In the meantime, we will continue to promote the benefits of solar power while applying strict cost discipline to managing our business.”
Financial Results
Net sales for the first quarter of 2008 were $12.2 million, an increase of 94.7% compared to $6.3 million in net sales in the first quarter of 2007 and an increase of 18.7% compared to $10.3 million in sales in the fourth quarter of 2007. Growth in the first quarter of 2008 over the same quarter last year reflects a higher volume of residential and commercial installations.
Gross profit for the first quarter 2008 was $2.4 million, or 19.7% of sales, compared to $1.5 million, or 23.8% of sales, in the first quarter of 2007 and compared to $1.9 million, or 18.2% of sales, in the fourth quarter of 2007. Compared to the prior year, gross margin declined due to a higher average panel price associated with the mix of products. The sequential increase in gross margin reflects improved efficiency associated with the record level of installations.
Total operating expenses for the first quarter of 2008 were $7.1 million compared to $2.4 million for the same period last year and $6.5 million in the fourth quarter of 2007. Compared to the first quarter of 2007, the $4.7 million variance consisted of $3.1 million in compensation expense of which $937,000 was non-cash stock-based compensation expense. The balance of the increase was primarily due to costs associated with having ten offices this year compared to three offices in the first quarter of 2007. The $674,000 variance from the fourth quarter of 2007 was primarily due to Andalay installation training, labor costs associated with weather interruptions and insurance costs.
Net loss for the first quarter of 2008 was $4.6 million, or $0.16 per share, compared to a net loss of $933,000, or $0.06 per share, in the first quarter of 2007 and a net loss of $4.5 million, or $0.18 per share in the fourth quarter of 2007. The reduced per share loss in the first quarter of 2008 compared to the fourth quarter of 2007 reflects an increase in the average shares outstanding during the first quarter of 2008 associated with the $26.1 million capital raise completed last November.
Installations for the quarter amounted to approximately 1,587 kilowatts compared to approximately 827 kilowatts last year and approximately 1,316 kilowatts in the fourth quarter of 2007. Backlog as of March 31, 2008 was $11.9 million.
Outlook
In addition to continued recessionary conditions and continued increases in energy prices, management’s 2008 forecast now assumes that the ITC will not be extended this year. As a result, management anticipates revenue will increase by approximately 40% to 50% over 2007 revenue and that EBITDA breakeven, adjusted for stock-based compensation expense, will not be achieved this year.
Conference Call Information
Akeena Solar will host an earnings conference call at 11:00 a.m. Pacific Time (2:00 p.m. Eastern Time) today to discuss its first quarter 2008 earnings results. Management will discuss strategy, review quarterly activity, provide industry commentary, and answer questions.
The call is being webcast and can be accessed from the “Investor Relations” section of the company’s website at www.akeena.com. If you do not have Internet access, please dial 877-225-1676 in the U.S. International callers should dial 706-643-9669. The passcode is 46479337. If you are unable to participate in the call at this time, the webcast will be archived on the company’s website. In addition, a telephonic replay will be available for two business days, beginning two hours after the call. To listen to the replay, in the U.S., please dial 800-642-1687. International callers should dial 706-645-9291. The passcode is 46479337.
About Akeena Solar, Inc.
Founded in 2001, Akeena Solar's philosophy is simple: We believe producing clean electricity directly from the sun is the right thing to do for our environment and economy. Akeena Solar has grown to become one of the largest national installers of residential and commercial solar power systems in the United States. The company's new integrated solar panel system, Andalay, is the only solar panel system with integrated racking, wiring and grounding. Andalay panels offer unprecedented reliability, performance and aesthetics. For more information, visit Akeena Solar's website at www.akeena.com.
Safe Harbor
Statements made in this release that are not historical in nature constitute forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “expects,” “plans” “will,” “may,” “anticipates,” believes,” “should,” “intends,” “estimates,” and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, the effectiveness, profitability, and marketability of such products, the ability to protect proprietary information, the impact of current, pending, or future legislation and regulation on the industry, the impact of competitive products or pricing, technological changes, the ability to identify and successfully acquire, integrate and manage client accounts and locations and deliver our services to customers of businesses and accounts acquired from third parties, the effect of general economic and business conditions. All forward-looking statements included in this release are made as of the date of this press release, and Akeena Solar assumes no obligation to update any such forward-looking statements.
- Tables to Follow -
AKEENA SOLAR, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) Three Months Ended March 31, 2008 2007 Net sales $ 12,248,372 $ 6,292,430 Cost of sales 9,832,817 4,792,864 Gross profit 2,415,555 1,499,566 Operating Expenses Sales and marketing 2,116,294 768,131 General and administrative 5,012,357 1,637,861 Total operating expenses 7,128,651 2,405,992 Loss from operations (4,713,096 ) (906,426 ) Other income (expense) Interest income (expense), net 134,939 (26,978 ) Total other income (expense) 134,939 (26,978 ) Loss before provision for income taxes (4,578,157 ) (933,404 ) Provision for income taxes - - Net loss $ (4,578,157 ) $ (933,404 ) Loss per common and common equivalent share: Basic $ (0.16 ) $ (0.06 ) Diluted $ (0.16 ) $ (0.06 ) Weighted average shares used in computing loss per common and common equivalent share: Basic 27,760,194 16,463,663 Diluted 27,760,194 16,463,663 AKEENA SOLAR, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(Unaudited) Three Months Ended March 31, December 31, 2008 2007 Assets Current assets Cash and cash equivalents $ 17,610,443 $ 22,313,717 Accounts receivable, net 11,818,757 9,465,055 Other receivables 264,889 278,636 Inventory 8,081,223 8,848,467 Prepaid expenses and other current assets, net 3,856,995 3,055,787 Total current assets 41,632,307 43,961,662 Property and equipment, net 1,888,423 1,796,567 Customer list, net - 84,698 Goodwill 318,500 318,500 Other assets 215,715 162,880 Total assets $ 44,054,945 $ 46,324,307 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 3,505,968 $ 6,716,475 Customer rebate payable 339,894 346,097 Accrued liabilities 3,310,314 1,431,880 Accrued warranty 752,251 647,706 Deferred purchase price payable 20,000 20,000 Deferred revenue 1,291,404 1,442,834 Credit facility 1,500,000 - Current portion of capital lease obligations 24,518 24,130 Current portion of long-term debt 193,098 191,845 Total current liabilities 10,937,447 10,820,967 Capital lease obligations, less current portion 40,527 46,669 Long-term debt, less current portion 596,802 644,595 Total liabilities 11,574,776 11,512,231 Commitments, contingencies and subsequent events Stockholders' equity: Preferred stock, $0.001 par value; 1,000,000 shares authorized; none issued and outstanding at March 31, 2008 and December 31, 2007 - - Common stock $0.001 par value; 50,000,000 shares authorized; 27,871,589 and 27,410,684 shares issued and outstanding at March 31, 2008 and December 31, 2007 27,871 27,411 Additional paid-in capital 49,658,308 47,412,518 Accumulated deficit (17,206,010 ) (12,627,853 ) Total stockholders' equity 32,480,169 34,812,076 Total liabilities and stockholders' equity $ 44,054,945 $ 46,324,307
Contacts Investor Relations:Lippert / Heilshorn & AssociatesJody Burfening/Elric Martinez, (212) 838-3777emartinez@lhai.comorAkeena Solar, Inc.President and CEOBarry Cinnamon, (888) 253-3628
LOS GATOS, Calif.--May 8 2008 --Akeena Solar, Inc. (NASDAQ: AKNS), a leading designer and installer of solar power systems, today announced results for the first quarter of 2008.
“We delivered 95% revenue growth in the first quarter compared to the first quarter of 2007, as expected, on the strength of an increase in both residential and commercial projects. Many of these installations are with Andalay, our proprietary solar panel system. The rollout of Andalay is proceeding extremely well and customers continue to respond very positively to the systems’ reliability and performance benefits. In addition, Andalay is now reaching customers in Europe through our license arrangement with Suntech,” said Barry Cinnamon, president and chief executive officer of Akeena Solar.
“Although installations were at a record level this quarter and customer inquiries were also at a record high, bookings did not keep pace. Since the beginning of the second quarter we have seen signs that a looming recession and tightening credit are weighing on consumers’ decisions to invest in residential solar installations – even with the price of energy skyrocketing. In addition, the uncertainty surrounding the extension of the federal investment tax credit (ITC) is restricting the availability of financing for future commercial projects,” continued Cinnamon. “We now expect demand for the rest of the year to be weaker than we had originally envisioned and full year revenue to grow by 40% to 50% over last year.
“To responsibly manage the business while demand remains weak, we have taken actions to reduce costs across the board,” added Cinnamon. “We are taking steps to streamline the organization, reduce headcount and redeploy assets to higher performing locations. The full benefit of these reductions will be apparent in the third quarter. Moreover, the ongoing rollout of Andalay is continuing to yield productivity improvements.”
Concluded Cinnamon, “In the short term, the recession and ITC uncertainty will dampen investments in solar power; in the medium term, the escalating cost of energy will only serve to stimulate demand. In the meantime, we will continue to promote the benefits of solar power while applying strict cost discipline to managing our business.”
Financial Results
Net sales for the first quarter of 2008 were $12.2 million, an increase of 94.7% compared to $6.3 million in net sales in the first quarter of 2007 and an increase of 18.7% compared to $10.3 million in sales in the fourth quarter of 2007. Growth in the first quarter of 2008 over the same quarter last year reflects a higher volume of residential and commercial installations.
Gross profit for the first quarter 2008 was $2.4 million, or 19.7% of sales, compared to $1.5 million, or 23.8% of sales, in the first quarter of 2007 and compared to $1.9 million, or 18.2% of sales, in the fourth quarter of 2007. Compared to the prior year, gross margin declined due to a higher average panel price associated with the mix of products. The sequential increase in gross margin reflects improved efficiency associated with the record level of installations.
Total operating expenses for the first quarter of 2008 were $7.1 million compared to $2.4 million for the same period last year and $6.5 million in the fourth quarter of 2007. Compared to the first quarter of 2007, the $4.7 million variance consisted of $3.1 million in compensation expense of which $937,000 was non-cash stock-based compensation expense. The balance of the increase was primarily due to costs associated with having ten offices this year compared to three offices in the first quarter of 2007. The $674,000 variance from the fourth quarter of 2007 was primarily due to Andalay installation training, labor costs associated with weather interruptions and insurance costs.
Net loss for the first quarter of 2008 was $4.6 million, or $0.16 per share, compared to a net loss of $933,000, or $0.06 per share, in the first quarter of 2007 and a net loss of $4.5 million, or $0.18 per share in the fourth quarter of 2007. The reduced per share loss in the first quarter of 2008 compared to the fourth quarter of 2007 reflects an increase in the average shares outstanding during the first quarter of 2008 associated with the $26.1 million capital raise completed last November.
Installations for the quarter amounted to approximately 1,587 kilowatts compared to approximately 827 kilowatts last year and approximately 1,316 kilowatts in the fourth quarter of 2007. Backlog as of March 31, 2008 was $11.9 million.
Outlook
In addition to continued recessionary conditions and continued increases in energy prices, management’s 2008 forecast now assumes that the ITC will not be extended this year. As a result, management anticipates revenue will increase by approximately 40% to 50% over 2007 revenue and that EBITDA breakeven, adjusted for stock-based compensation expense, will not be achieved this year.
Conference Call Information
Akeena Solar will host an earnings conference call at 11:00 a.m. Pacific Time (2:00 p.m. Eastern Time) today to discuss its first quarter 2008 earnings results. Management will discuss strategy, review quarterly activity, provide industry commentary, and answer questions.
The call is being webcast and can be accessed from the “Investor Relations” section of the company’s website at www.akeena.com. If you do not have Internet access, please dial 877-225-1676 in the U.S. International callers should dial 706-643-9669. The passcode is 46479337. If you are unable to participate in the call at this time, the webcast will be archived on the company’s website. In addition, a telephonic replay will be available for two business days, beginning two hours after the call. To listen to the replay, in the U.S., please dial 800-642-1687. International callers should dial 706-645-9291. The passcode is 46479337.
About Akeena Solar, Inc.
Founded in 2001, Akeena Solar's philosophy is simple: We believe producing clean electricity directly from the sun is the right thing to do for our environment and economy. Akeena Solar has grown to become one of the largest national installers of residential and commercial solar power systems in the United States. The company's new integrated solar panel system, Andalay, is the only solar panel system with integrated racking, wiring and grounding. Andalay panels offer unprecedented reliability, performance and aesthetics. For more information, visit Akeena Solar's website at www.akeena.com.
Safe Harbor
Statements made in this release that are not historical in nature constitute forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “expects,” “plans” “will,” “may,” “anticipates,” believes,” “should,” “intends,” “estimates,” and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, the effectiveness, profitability, and marketability of such products, the ability to protect proprietary information, the impact of current, pending, or future legislation and regulation on the industry, the impact of competitive products or pricing, technological changes, the ability to identify and successfully acquire, integrate and manage client accounts and locations and deliver our services to customers of businesses and accounts acquired from third parties, the effect of general economic and business conditions. All forward-looking statements included in this release are made as of the date of this press release, and Akeena Solar assumes no obligation to update any such forward-looking statements.
- Tables to Follow -
AKEENA SOLAR, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) Three Months Ended March 31, 2008 2007 Net sales $ 12,248,372 $ 6,292,430 Cost of sales 9,832,817 4,792,864 Gross profit 2,415,555 1,499,566 Operating Expenses Sales and marketing 2,116,294 768,131 General and administrative 5,012,357 1,637,861 Total operating expenses 7,128,651 2,405,992 Loss from operations (4,713,096 ) (906,426 ) Other income (expense) Interest income (expense), net 134,939 (26,978 ) Total other income (expense) 134,939 (26,978 ) Loss before provision for income taxes (4,578,157 ) (933,404 ) Provision for income taxes - - Net loss $ (4,578,157 ) $ (933,404 ) Loss per common and common equivalent share: Basic $ (0.16 ) $ (0.06 ) Diluted $ (0.16 ) $ (0.06 ) Weighted average shares used in computing loss per common and common equivalent share: Basic 27,760,194 16,463,663 Diluted 27,760,194 16,463,663 AKEENA SOLAR, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(Unaudited) Three Months Ended March 31, December 31, 2008 2007 Assets Current assets Cash and cash equivalents $ 17,610,443 $ 22,313,717 Accounts receivable, net 11,818,757 9,465,055 Other receivables 264,889 278,636 Inventory 8,081,223 8,848,467 Prepaid expenses and other current assets, net 3,856,995 3,055,787 Total current assets 41,632,307 43,961,662 Property and equipment, net 1,888,423 1,796,567 Customer list, net - 84,698 Goodwill 318,500 318,500 Other assets 215,715 162,880 Total assets $ 44,054,945 $ 46,324,307 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 3,505,968 $ 6,716,475 Customer rebate payable 339,894 346,097 Accrued liabilities 3,310,314 1,431,880 Accrued warranty 752,251 647,706 Deferred purchase price payable 20,000 20,000 Deferred revenue 1,291,404 1,442,834 Credit facility 1,500,000 - Current portion of capital lease obligations 24,518 24,130 Current portion of long-term debt 193,098 191,845 Total current liabilities 10,937,447 10,820,967 Capital lease obligations, less current portion 40,527 46,669 Long-term debt, less current portion 596,802 644,595 Total liabilities 11,574,776 11,512,231 Commitments, contingencies and subsequent events Stockholders' equity: Preferred stock, $0.001 par value; 1,000,000 shares authorized; none issued and outstanding at March 31, 2008 and December 31, 2007 - - Common stock $0.001 par value; 50,000,000 shares authorized; 27,871,589 and 27,410,684 shares issued and outstanding at March 31, 2008 and December 31, 2007 27,871 27,411 Additional paid-in capital 49,658,308 47,412,518 Accumulated deficit (17,206,010 ) (12,627,853 ) Total stockholders' equity 32,480,169 34,812,076 Total liabilities and stockholders' equity $ 44,054,945 $ 46,324,307
Contacts Investor Relations:Lippert / Heilshorn & AssociatesJody Burfening/Elric Martinez, (212) 838-3777emartinez@lhai.comorAkeena Solar, Inc.President and CEOBarry Cinnamon, (888) 253-3628
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