Nanotech Stock Directory Features publicly traded companies developing new technology in Renewable Energy, Homeland Security, Biotech, Water and other sectors
Delta B.C. – March 31, 2010 www.NanotechnologyInvestment.com, a leading investor and industry portal for the Nanotechnology sector, within Investorideas.com announces the updated nanotech stocks directory for investors.
The directory features global nanotech publicly traded companies that are developing new technology in energy, Homeland Security, Biotech, water and other sectors.
Nanotech Stock List April 2010
http://www.investorideas.com/Nanotechnology/Stocks_List.asp
Preview:
3M Co. (NYSE:MMM) 3M scientists and researchers are exploring a new world at the nanometer level, where materials exhibit unique physical, chemical and biological properties. These unusual properties are already being exploited in our hard coatings, dental restoratives and brightness-enhancing optical films (used in LCD displays). Many 3M technology platforms, including adhesives and pharmaceuticals, are being influenced by the emergence of nano-sized particles.
A123 Systems, Inc. (NasdaqGM:AONE) develops and manufactures advanced lithium-ion batteries and battery systems for the transportation, electric grid services and consumer markets. Founded in 2001 and headquartered in Massachusetts, A123 Systems' proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology.
ABB Ltd. (NYSE:ABB) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB group of companies operates in some 100 countries and employs approximately 120,000 people. The ABB Corporate Research facilities in both Sweden and Poland are currently working on nanotechnology and advanced materials technologies.
Abraxis Bioscience (NasdaqGS:ABII) is a fully integrated biotechnology company dedicated to delivering progressive therapeutics and core technologies that offer patients and medical professionals safer and more effective treatments for cancer and other critical illnesses. The Abraxis portfolio includes the world's first and only protein-based nanoparticle chemotherapeutic compound (ABRAXANE) which is based on its proprietary tumor targeting system known as the nab™ Technology platform.
Accelrys (NasdaqGM:ACCL) develops scientific business intelligence software and solutions for the life sciences, energy, chemicals, aerospace, and consumer products industries. Our customers include many Fortune 500 companies and other commercial entities, as well as academic and government entities. The Accelrys Nanotechnology Consortium has delivered a range of cutting-edge software tools to meet the challenges of rational nanodesign. Following a very successful Phase I, supported by over 30 members worldwide, Phase II is now under way. Phase II focuses on developing tools and protocols that bridge the gap between atomistic simulations and engineering applications in the area of reaction kinetics. Key areas of development include QM/MM hybrid methods, Tight Binding DFT, reaction rate constant calculations by means of Transition State Theory, and Kinetic Monte Carlo simulation. The tools developed support research in a range of areas but specificially in surface and iinterface phenomena such as adhesion, coatings and heterogeneous catalysis.
Nanotechnology Stocks Directory: Investorideas.com global stock directory of publicly traded nanotech stocks on the TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM, Hong Kong and China and other leading Stock Exchanges. Directory includes nanotech- biotech companies, nanotech water and renewable energy companies and more. Directory features company description, stock symbol and hyperlink to recent quote and info, link to website and more. http://www.investorideas.com/Nanotechnology/Stocks_List.asp
More info on nanotech stocks can be found at the nanotechnology investor portal, http://www.nanotechnologyinvestment.com/, within Investorideas.com.
The nanotech stocks directory can be purchased independently or as part of the Investorideas.com membership.
Investorideas.com Members currently have access to eleven stock directories in leading sectors including renewable energy, water, oil and gas, natural gas, environment, fuel cell, biotech, defense stocks, coal stocks and gold- mining stocks in addition to the most recently created stock directory; nanotech stocks .
Visit the Investor Ideas membership page to learn more at:
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Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. www.InvestorIdeas.com/About/Disclaimer.asp
For Additional Information and or interest in becoming a content /revenue partner:
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Source – Investorideas.com
Wednesday, March 31, 2010
Sunday, March 28, 2010
Solar Stocks; SunPower (Nasdaq: SPWRA) Announces Pricing of $220 Million Aggregate Principal Amount of Its 4.5% Senior Cash Convertible Debentures
SunPower Announces Pricing of $220 Million Aggregate Principal Amount of Its 4.5% Senior Cash Convertible Debentures
SAN JOSE, Calif., March 26 -- SunPower Corporation (Nasdaq: SPWRA; SPWRB), a Silicon Valley-based provider of high efficiency solar cells, solar panels, and solar systems, today announced that it has priced an offering of $220 million aggregate principal amount of its 4.5% senior cash convertible debentures due 2015. In connection with this offering, SunPower has granted the initial purchasers an option to purchase up to an additional $30 million aggregate principal amount of such debentures to cover overallotments, if any. SunPower intends to use the proceeds from the offering to replenish cash reserves it expects to use in its acquisition of SunRay Renewable Energy, for working capital, capital expenditures and general corporate purposes, to pay the cost of the cash convertible debenture hedge and warrant transactions described below and, potentially, for the repayment of indebtedness. The sale of the debentures is subject to market and other customary conditions and is expected to close on April 1, 2010.
The debentures will pay interest semi-annually on March 15 and September 15 beginning on September 15, 2010, at a rate of 4.5% per annum, and will mature on March 15, 2015. The debentures will be convertible only into cash, and not into shares of SunPower's common stock (or any other securities). Prior to December 15, 2014, the debentures will be convertible only upon specified events and, thereafter, they will be convertible at any time, based on an initial conversion price of $22.53 per share of class A common stock (which is equivalent to a conversion rate of approximately 44.3853 shares of SunPower's class A common stock per $1,000 principal amount of debentures, representing a conversion premium of approximately 25% over the closing sale price of $18.02 per share of SunPower's class A common stock on the NASDAQ Global Select Market on March 25, 2010). The debentures will not be convertible upon the satisfaction of customary market price trigger conditions until the first quarter of 2011. The conversion price and the conversion rate will be subject to adjustment in certain events, such as distributions of dividends or stock splits. Upon conversion, SunPower will deliver an amount of cash calculated by reference to the price of SunPower's class A common stock over the applicable observation period. SunPower may not redeem the debentures prior to maturity. In connection with the sale of the debentures, SunPower entered into convertible debenture hedge and warrant transactions intended to reduce its potential exposure to cash payments upon conversion of the debentures.
The debentures are being offered in a private placement only to qualified institutional buyers, as defined in Rule 144A under the Securities Act of 1933 (the "Act"). The debentures have not been registered under the Act or any other state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state securities law.
This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the debentures. This press release is being issued pursuant to and in accordance with Rule 135c under the Act. Any offers of the debentures will be made only by means of a private offering memorandum. The debentures being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the applicable private offering memorandum.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The company uses words and phrases such as "intends", "will," "may," "could," "expect," "potential," and similar expressions to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) the company's plans for the offering; (b) the use of the offering proceeds; (c) the timing of closing and (d) the convertibility of the debentures. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) market conditions; (ii) potential fluctuations in the company's stock price; (iii) management's broad discretion over the use of the net proceeds of the offering; (iv) changes in U.S. generally accepted accounting principles or in their interpretation; (v) the closing being subject to customary closing conditions; and (vi) other risks described in the company's Annual Report on Form 10-K for the year ended January 3, 2010, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE SunPower Corp.
_______________________________________
More solar stocks info:
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
The renewable energy stocks directory can be previewed at : click here
Investor Ideas members can login to access all 4 cleantech stock directories. learn more:
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
SAN JOSE, Calif., March 26 -- SunPower Corporation (Nasdaq: SPWRA; SPWRB), a Silicon Valley-based provider of high efficiency solar cells, solar panels, and solar systems, today announced that it has priced an offering of $220 million aggregate principal amount of its 4.5% senior cash convertible debentures due 2015. In connection with this offering, SunPower has granted the initial purchasers an option to purchase up to an additional $30 million aggregate principal amount of such debentures to cover overallotments, if any. SunPower intends to use the proceeds from the offering to replenish cash reserves it expects to use in its acquisition of SunRay Renewable Energy, for working capital, capital expenditures and general corporate purposes, to pay the cost of the cash convertible debenture hedge and warrant transactions described below and, potentially, for the repayment of indebtedness. The sale of the debentures is subject to market and other customary conditions and is expected to close on April 1, 2010.
The debentures will pay interest semi-annually on March 15 and September 15 beginning on September 15, 2010, at a rate of 4.5% per annum, and will mature on March 15, 2015. The debentures will be convertible only into cash, and not into shares of SunPower's common stock (or any other securities). Prior to December 15, 2014, the debentures will be convertible only upon specified events and, thereafter, they will be convertible at any time, based on an initial conversion price of $22.53 per share of class A common stock (which is equivalent to a conversion rate of approximately 44.3853 shares of SunPower's class A common stock per $1,000 principal amount of debentures, representing a conversion premium of approximately 25% over the closing sale price of $18.02 per share of SunPower's class A common stock on the NASDAQ Global Select Market on March 25, 2010). The debentures will not be convertible upon the satisfaction of customary market price trigger conditions until the first quarter of 2011. The conversion price and the conversion rate will be subject to adjustment in certain events, such as distributions of dividends or stock splits. Upon conversion, SunPower will deliver an amount of cash calculated by reference to the price of SunPower's class A common stock over the applicable observation period. SunPower may not redeem the debentures prior to maturity. In connection with the sale of the debentures, SunPower entered into convertible debenture hedge and warrant transactions intended to reduce its potential exposure to cash payments upon conversion of the debentures.
The debentures are being offered in a private placement only to qualified institutional buyers, as defined in Rule 144A under the Securities Act of 1933 (the "Act"). The debentures have not been registered under the Act or any other state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state securities law.
This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the debentures. This press release is being issued pursuant to and in accordance with Rule 135c under the Act. Any offers of the debentures will be made only by means of a private offering memorandum. The debentures being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the applicable private offering memorandum.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The company uses words and phrases such as "intends", "will," "may," "could," "expect," "potential," and similar expressions to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) the company's plans for the offering; (b) the use of the offering proceeds; (c) the timing of closing and (d) the convertibility of the debentures. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) market conditions; (ii) potential fluctuations in the company's stock price; (iii) management's broad discretion over the use of the net proceeds of the offering; (iv) changes in U.S. generally accepted accounting principles or in their interpretation; (v) the closing being subject to customary closing conditions; and (vi) other risks described in the company's Annual Report on Form 10-K for the year ended January 3, 2010, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE SunPower Corp.
_______________________________________
More solar stocks info:
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
The renewable energy stocks directory can be previewed at : click here
Investor Ideas members can login to access all 4 cleantech stock directories. learn more:
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
Friday, March 26, 2010
Renewable Energy Stock News ; GE (NYSE: GE) Announces Major European Offshore Wind Expansion
Renewable Energy Stock News ; GE (NYSE: GE) Announces Major European Offshore Wind Expansion with a Planned €340 Million Investment for Manufacturing, Engineering and Service Facilities in Four Countries
Plan Focused on GE’s Next Generation 4-megawatt Direct Drive Wind Turbine and Promising Offshore Wind Sector
BRUSSELS--(Investorideas.com renewable energy/green news )--GE (NYSE: GE) today announced plans to invest approximately €340 million to develop or expand its wind turbine manufacturing, engineering and service facilities in four European countries—the United Kingdom, Norway, Sweden and Germany—signaling GE’s deep commitment to the promising European offshore wind sector.
“These announcements lay the foundation for us to begin scaling our offshore business, technology and supply chain locally in Europe where we see the greatest growth opportunity.”
.“Offshore wind will play a vital role in meeting the growing global demand for cleaner, renewable energy and has a bright future here in Europe,” said Ferdinando (Nani) Beccalli-Falco, president and CEO of GE International. “These investments will position us to help develop Europe’s vast, untapped offshore wind resources, while also creating new jobs for both GE and our suppliers.”
At the core of GE’s European expansion plans is the development of GE’s next generation wind turbine, a 4-megawatt machine designed specifically for offshore deployment. As the largest wind turbine in GE’s fleet, it will incorporate advanced drive train and control technologies gained through GE’s acquisition of ScanWind. The 4-megawatt wind turbine will feature GE’s innovative technology that eliminates the need for gearboxes. This technology is already being demonstrated at a test site in Hundhammerfjellet, Norway, where the first ScanWind direct drive unit has been operating for more than five years.
“GE’s proven reliability on more than 13,500 land units coupled with ScanWind’s proven offshore, gearless design enables us to provide our customers the reliable solutions necessary for the offshore wind industry,” said Victor Abate, vice president—renewable energy for GE Power & Water. “These announcements lay the foundation for us to begin scaling our offshore business, technology and supply chain locally in Europe where we see the greatest growth opportunity.”
The European Wind Energy Association expects that Europe’s offshore wind sector will grow more than 70% in 2010, with continued growth forecast over the next several years. If all of the offshore wind projects currently in development are completed, they could produce 10% of the European Union’s total electricity while avoiding 200 million tons of CO2 emissions each year. Overall, offshore wind is expected to make a major contribution in helping the European Union reach its goal to have 20% of its energy produced from renewable resources by the year 2020.
Key elements of GE’s European expansion announcement include:
Norway
GE will add to its existing presence in Norway with plans to create a new Offshore Technology Development Center in Oslo and will expand its advanced demonstration unit production and service facilities in Verdal. GE also has joined the Nowitech Research Center in Norway to participate in joint research projects on offshore wind topics. Norway is the planned site for the testing and demonstration of the first 4-megawatt wind turbines offshore. This will result in approximately 100 jobs and a €75 million investment related to GE’s offshore wind business in Norway by 2016.
Sweden
In Sweden, GE also will expand its current offshore wind facilities by developing a Conceptual and Systems Design Center in Karlstad, Sweden. A technology demonstration unit is planned to be installed in Gothenburg harbor, and GE also will join the Chalmers Wind Energy Center in Gothenburg. This will result in approximately 50 jobs and a €50 million investment related to GE’s offshore wind business in Sweden by 2016.
Germany
A new engineering center in Hamburg will feature product development, application engineering and advanced technology. GE also plans to expand its resources at its existing wind turbine manufacturing facility in Salzbergen, as well as the GE Global Research Center in Munich. This will result in approximately 100 jobs and a €105 million investment related to GE’s offshore wind business in Germany by 2016.
United Kingdom
GE plans to establish its offshore wind turbine manufacturing in the United Kingdom. In addition, GE will locate application and service engineering resources in the country and will bring partners and suppliers of towers, blades, nacelles and other offshore wind components to the manufacturing facility. The plan will result in up to €110 million investment related to GE’s offshore wind business in the United Kingdom and could ultimately deliver nearly 2,000 jobs by 2020. This investment will follow the successful outcome of the U.K. government’s infrastructure competition, aimed at supporting the development of renewable energy in the United Kingdom.
About GE
GE is a diversified global infrastructure, finance and media company that's built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With 60,000 global employees and 2009 revenues of $37 billion, GE Energy www.ge.com/energy is one of the world’s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy—GE Power & Water, GE Energy Services and GE Oil & Gas—work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
For more information, visit the company’s Web site at www.ge.com. GE is imagination at work.
Contacts
GE Power & Water
Milissa Rocker, +1 518-385-2381
milissa.rocker@ge.com
_____________________________________
Green Investor Research:
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
The renewable energy stocks directory can be previewed at : http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Plan Focused on GE’s Next Generation 4-megawatt Direct Drive Wind Turbine and Promising Offshore Wind Sector
BRUSSELS--(Investorideas.com renewable energy/green news )--GE (NYSE: GE) today announced plans to invest approximately €340 million to develop or expand its wind turbine manufacturing, engineering and service facilities in four European countries—the United Kingdom, Norway, Sweden and Germany—signaling GE’s deep commitment to the promising European offshore wind sector.
“These announcements lay the foundation for us to begin scaling our offshore business, technology and supply chain locally in Europe where we see the greatest growth opportunity.”
.“Offshore wind will play a vital role in meeting the growing global demand for cleaner, renewable energy and has a bright future here in Europe,” said Ferdinando (Nani) Beccalli-Falco, president and CEO of GE International. “These investments will position us to help develop Europe’s vast, untapped offshore wind resources, while also creating new jobs for both GE and our suppliers.”
At the core of GE’s European expansion plans is the development of GE’s next generation wind turbine, a 4-megawatt machine designed specifically for offshore deployment. As the largest wind turbine in GE’s fleet, it will incorporate advanced drive train and control technologies gained through GE’s acquisition of ScanWind. The 4-megawatt wind turbine will feature GE’s innovative technology that eliminates the need for gearboxes. This technology is already being demonstrated at a test site in Hundhammerfjellet, Norway, where the first ScanWind direct drive unit has been operating for more than five years.
“GE’s proven reliability on more than 13,500 land units coupled with ScanWind’s proven offshore, gearless design enables us to provide our customers the reliable solutions necessary for the offshore wind industry,” said Victor Abate, vice president—renewable energy for GE Power & Water. “These announcements lay the foundation for us to begin scaling our offshore business, technology and supply chain locally in Europe where we see the greatest growth opportunity.”
The European Wind Energy Association expects that Europe’s offshore wind sector will grow more than 70% in 2010, with continued growth forecast over the next several years. If all of the offshore wind projects currently in development are completed, they could produce 10% of the European Union’s total electricity while avoiding 200 million tons of CO2 emissions each year. Overall, offshore wind is expected to make a major contribution in helping the European Union reach its goal to have 20% of its energy produced from renewable resources by the year 2020.
Key elements of GE’s European expansion announcement include:
Norway
GE will add to its existing presence in Norway with plans to create a new Offshore Technology Development Center in Oslo and will expand its advanced demonstration unit production and service facilities in Verdal. GE also has joined the Nowitech Research Center in Norway to participate in joint research projects on offshore wind topics. Norway is the planned site for the testing and demonstration of the first 4-megawatt wind turbines offshore. This will result in approximately 100 jobs and a €75 million investment related to GE’s offshore wind business in Norway by 2016.
Sweden
In Sweden, GE also will expand its current offshore wind facilities by developing a Conceptual and Systems Design Center in Karlstad, Sweden. A technology demonstration unit is planned to be installed in Gothenburg harbor, and GE also will join the Chalmers Wind Energy Center in Gothenburg. This will result in approximately 50 jobs and a €50 million investment related to GE’s offshore wind business in Sweden by 2016.
Germany
A new engineering center in Hamburg will feature product development, application engineering and advanced technology. GE also plans to expand its resources at its existing wind turbine manufacturing facility in Salzbergen, as well as the GE Global Research Center in Munich. This will result in approximately 100 jobs and a €105 million investment related to GE’s offshore wind business in Germany by 2016.
United Kingdom
GE plans to establish its offshore wind turbine manufacturing in the United Kingdom. In addition, GE will locate application and service engineering resources in the country and will bring partners and suppliers of towers, blades, nacelles and other offshore wind components to the manufacturing facility. The plan will result in up to €110 million investment related to GE’s offshore wind business in the United Kingdom and could ultimately deliver nearly 2,000 jobs by 2020. This investment will follow the successful outcome of the U.K. government’s infrastructure competition, aimed at supporting the development of renewable energy in the United Kingdom.
About GE
GE is a diversified global infrastructure, finance and media company that's built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With 60,000 global employees and 2009 revenues of $37 billion, GE Energy www.ge.com/energy is one of the world’s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy—GE Power & Water, GE Energy Services and GE Oil & Gas—work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
For more information, visit the company’s Web site at www.ge.com. GE is imagination at work.
Contacts
GE Power & Water
Milissa Rocker, +1 518-385-2381
milissa.rocker@ge.com
_____________________________________
Green Investor Research:
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
The renewable energy stocks directory can be previewed at : http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010! http://www.investorideas.com/membership/.
Wednesday, March 24, 2010
Group for Renewable Energy Investors and Green Stocks on www.Linkedin.com; “Renewable Energy Stocks”
Group for Renewable Energy Investors and Green Stocks on www.Linkedin.com; “Renewable Energy Stocks”
Green Investors and IR, PR contacts at Renewable Companies Share News and Ideas
DELTA, BC – March 24, 2010, www.InvestorIdeas.com, and its renewable energy stocks portal www.RenewableEnergyStocks.com, invite green investors and IR and PR contacts at green publicly traded companies to join the recently created Renewable Energy Stocks Group on www.linkedin.com.
This group is for investors following publicly traded green and renewable energy stocks, as well as IR and PR contacts. Members are encouraged to share and publish news and commentary on the sector.
Investorideas.com was one of the first investor research portals covering renewable energy stocks and intends to be a driving force for investors to make investment decisions that reflect their beliefs and core values.
Visit and Join the Group on Linkedin.com: Renewable Energy Stocks
http://www.linkedin.com/groups?about=&gid=2691365&trk=anet_ug_grppro
Group owner - Cali VanZant Investorideas.com and Renewableenergystocks.com
More green investor tools from Investorideas.com:
Renewable Energy Investors: How to research stocks in the sector:
The renewable energy stocks directory at Investorideas.com features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Smart Grid Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Learn more about Investor Ideas Premium Membership- Join is in our campaign for Investorideas.com Goal; One Million Cleantech Investors in 2010 -Investorideas.com Cleantech Investor Tools for Investing in a Better World.
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Visit the Investorideas.com Green Investor Portals: www.RenewableEnergyStocks.com ®, www.FuelCellCarNews.com ®, www.EnvironmentStocks.com, www.Water-Stocks.com and www.GreentechInvestor.com all within the Investorideas.com hub.
Join Investorideas.com cleantech investor social network at Socialgo: http://investorideas.socialgo.com/
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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: Investorideas is compensated by featured green companies, news submissions and online advertising.
Disclosure .Learn about our green showcase options for publicly traded cleantech companies. To become a showcase company, contact us below.
For more information contact:
800.665.0411
Email: dvanzant@investorideas.com or Cali at cvanzant@investorideas.com
Source: www.RenewableEnergyStocks.com, www.Investorideas.com
Green Investors and IR, PR contacts at Renewable Companies Share News and Ideas
DELTA, BC – March 24, 2010, www.InvestorIdeas.com, and its renewable energy stocks portal www.RenewableEnergyStocks.com, invite green investors and IR and PR contacts at green publicly traded companies to join the recently created Renewable Energy Stocks Group on www.linkedin.com.
This group is for investors following publicly traded green and renewable energy stocks, as well as IR and PR contacts. Members are encouraged to share and publish news and commentary on the sector.
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Thursday, March 18, 2010
STR Holdings Reports Fourth Quarter and 2009 Financial Results , Improved Solar Market
Solar News - STR Holdings Reports Fourth Quarter and 2009 Financial Results
- Fourth Quarter Earnings Growth Driven by Improved Solar Market -
ENFIELD, Conn-STR Holdings, Inc. (NYSE: STRI) announced financial results for the fourth quarter and year ended December 31, 2009.
2009 Fourth Quarter Highlights include:
•Consolidated net sales rose 6.1% to $79.9 million compared with $75.4 million in the fourth quarter of 2008
•Diluted EPS of $0.23 vs. $0.09 a year ago; non-GAAP diluted EPS of $0.42 vs. $0.15 a year ago
•Solar net sales rose 42.3% to $50.3 million on a quarterly sequential basis and 4.2% compared with the same quarter last year
•Quality Assurance net sales of $29.6 million rose 9.4% compared with the fourth quarter of 2008
•Solar adjusted EBITDA rose 45.6% to $24.0 million on a quarterly sequential basis and 55.6% compared with the same quarter last year
•Operating cash flow of $11.2 million exceeded net income.
Fourth Quarter Financial Results
Solar segment net sales for the fourth quarter ended December 31, 2009 increased 42.3% on a quarterly sequential basis to $50.3 million and rose 4.2% from $48.3 million a year ago.
Solar segment adjusted EBITDA for the fourth quarter of 2009 was $24.0 million, up 45.6% from $16.5 million on a quarterly sequential basis as a result of a 43% increase in sales volume, improved labor efficiencies and favorable fixed cost absorption. Compared to the fourth quarter of 2008, Solar segment adjusted EBITDA is up 55.6% from $15.4 million. This is partially due to a $4.2 million charge to cost of goods sold in 2008 for a product performance claim related to a product that the Company discontinued in 2006.
Chairman, President and Chief Executive Officer Dennis L. Jilot stated, “As macro-economic conditions continue to improve, we are pleased with our solar segment’s fourth quarter results. Our revenue grew sequentially by 42.3% as expected reductions to solar subsidies in Germany and Italy and a favorably mild winter in Europe drove stronger-than-anticipated demand during the quarter. As the only encapsulant provider with manufacturing and distribution capabilities in North America, Europe and Asia, STR’s global footprint continues to be a key differentiator for us. This quarter, utilization of our Malaysian plant enabled us to increase our market penetration in Asia, including an increase in sales volume in China. Gross margin improved to 43.8%, a 550 basis point expansion from the third quarter of 2009.”
STR’s Quality Assurance (QA) segment net sales for the fourth quarter of 2009 rose 9.4% to $29.6 million, compared with $27.1 million a year ago as a result of increased testing for toy and private label markets as well as increased demand for its Responsible Sourcing social accountability services. QA adjusted EBITDA rose 8.0% to $5.8 million, from $5.4 million a year ago.
Selling, general and administrative expense for the fourth quarter of 2009 rose 132.0% to $18.8 million, compared with the same quarter last year. This increase was primarily the result of a $2.6 million one-time payment in connection with the termination of a 2007 advisory services agreement with DLJ Merchant Banking Partners, and an increase of approximately $5.1 million in non-cash stock-based compensation expense mainly due to the issuance of stock options to replace certain pre-IPO incentive units as a result of the change in capital structure from a limited liability company to a corporation.
Net income for the fourth quarter of 2009 rose 174.5% to $8.9 million or $0.23 on a diluted EPS basis, compared with $3.2 million, or $0.09 on a diluted EPS basis during the fourth quarter of 2008.
Non-GAAP net income for the fourth quarter of 2009 rose 194.3% to $16.5 million, or $0.42 on a diluted EPS basis. This compared with non-GAAP net income of $5.6 million, or $0.15 on a diluted EPS basis, for the fourth quarter of 2008, (See discussion of non-GAAP financial measures and the reconciliation table below for details).
During the fourth quarter of 2009, the Company generated $11.2 million of operating cash flow, up 28.9% from $8.7 million a year ago. Free cash flow, which is defined as operating cash flow less capital expenditures, increased 279%, or $10.7 million from the fourth quarter of 2008 mainly as a result of increased earnings, lower spending on capacity expansion and improved working capital performance.
STR’s Executive Vice President and Chief Financial Officer Barry A. Morris stated, “Our capital expenditures for 2009 totaled $17.8 million. We entered 2010 with our solar capacity utilization at approximately 55% and based on our growth projections, we anticipate beginning to fund our 2011 capacity expansion needs during the first half of 2010. Our strong balance sheet and operating cash flows give us the ability to internally fund expansion currently under development and provide us with flexibility in our pursuit of shareholder value creation.”
Financial Results for the year ended December 31, 2009:
•Total net sales were $264.9 million, compared with $288.6 million a year ago. Solar net sales were $149.5 million, down $32.8 million from $182.3 million a year ago, primarily attributable to an industry-wide over-supply of module inventory that resulted from unfavorable macro-economic conditions as well as the fourth quarter 2008 cut to the solar subsidy in Spain. QA net sales totaled $115.4 million, up from $106.3 million for 2008 due to strong demand and benefit from the increased regulatory environment
•Gross profit on a consolidated basis was $98.0 million, compared with $113.9 million in 2008
•Net income on a consolidated basis was $23.0 million, or $0.61 per diluted share, compared with $28.1 million, or $0.75 per diluted share, for 2008
•Non-GAAP net income for 2009 was $38.3 million, or $1.02 per diluted share, compared with $37.9 million, or $1.01 per diluted share for 2008
•Operating cash flow amounted to $47.9 million for the full year 2009, compared to $47.7 million for 2008.
Business Outlook
Mr. Jilot added, “Looking at the fourth quarter of 2009 and the first quarter of 2010, the anticipated changes to solar incentives in Germany and Italy have accelerated sales throughout the solar module supply chain. While we believe this is a long-term positive development for the industry, we expect that it could cause atypical sequential growth for STR compared with historical quarterly sales patterns. Overall, STR has a positive outlook for 2010 supported by our continued momentum into Asia, ambitious goals for clean energy in the United States, and the overall decline in module prices that we expect will increase end-user volume.”
The Company is providing the following first quarter and full year 2010 financial guidance, which it will discuss in greater detail on the conference call:
(Amounts in millions, except per share amounts)
Quarter Ending March 31, 2010 Low High
Solar net sales $ 52.0 $ 55.0
QA net sales 25.0 26.0
Total net sales 77.0 81.0
Diluted non-GAAP EPS $ 0.23 $ 0.25
Year Ending December 31, 2010 Low High
Solar net sales $ 185.0 $ 200.0
QA net sales 125.0 130.0
Total net sales 310.0 330.0
Diluted non-GAAP EPS $ 1.05 $ 1.10
Conference Call
STR will discuss these results for the fourth quarter and year ended December 31, 2009, as well as provide its business outlook for the first quarter and year ended December 31, 2010 in a conference call scheduled today, at 4:15 p.m. EDT. Dennis L. Jilot, Chairman, President and Chief Executive Officer and Barry A. Morris, Executive Vice President and Chief Financial Officer will host the call. Investors interested in participating in the live call from the U.S. should dial 866-700-0161 and enter passcode: 21726879. Those calling from outside the U.S. should dial 617-213-8832 and use the same passcode. A telephone replay will be available approximately two hours after the call concludes through Wednesday, March 31, 2010 by dialing 888-286-8010 from the U.S., or 617-801-6888 from international locations, and entering passcode: 86593293. There also will be a simultaneous live webcast available on the Investor Relations section of the Company’s website at http://www.strholdings.com. The webcast will be archived on the website for 365 days.
About STR Holdings, Inc.
STR Holdings, Inc. is a diversified global leader providing high quality, superior performance solar encapsulants to the photovoltaic module industry. It is also one of the world’s top providers of quality assurance testing, audit, inspection and responsible sourcing services. STR works with over 5,100 manufacturers, importers, raw materials suppliers and retailers around the globe to ensure that they have the highest level of confidence in the quality and safety of their products and the social standards of the supply chain producing them. Further information about STR Holdings, Inc. can be obtained via the Company’s website at http://www.strholdings.com.
Forward Looking Statements
This press release and any oral statement made in respect of the information in this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to inherent risks and uncertainties. These forward-looking statements present the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business and are based on assumptions that the Company has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors management believes are appropriate under the circumstances. However, these forward-looking statements are not guarantees of future performance or financial or operating results. In addition to the risks and uncertainties discussed in this release, the Company faces risks and uncertainties that include, but are not limited to, the following: (i) demand for solar energy in general and solar modules in particular; (ii) the timing and effects of the implementation of recently announced government incentives and policies for renewable energy, primarily in China and the United States; (iii) the effects of the recently announced proposed cut to solar incentives in Germany and Italy; (iv) customer concentration in the Company’s solar business and our relationships with key customers; (v) the continual operation of the Company’s Malaysian plant which commenced shipments in August 2009; (vi) the need to utilize its existing $20 million revolving credit facility, and the ability to further access the credit markets on acceptable terms; (vii) maintaining sufficient liquidity in order to fund future profitable growth and long term vitality; (viii) the continuing effects of the ongoing recession on sales; (ix) pricing pressures and other competitive factors; (x) the impact of the current negative credit markets may have on the Company or its customers or suppliers; (xi) loss of professional accreditations and memberships; (xii) the extent to which the Company may be required to write-off accounts receivable or inventory; (xiii) the Company’s reliance on vendors and potential supply chain disruptions, including those resulting from bankruptcy filings by customers or vendors; (xiv) any potential inflation of commodity costs, including paper and resin used in the Company’s encapsulants, and the Company’s ability to successfully manage any increases in these commodity costs; (xv) potential product performance matters, product liability or professional liability claims and the Company’s ability to manage them; (xvi) the impact of changes in foreign currency exchange rates on financial results, and the geographic distribution of revenues and earnings; (xvii) the impact of changes in interest rates in relation to the Company’s variable rate debt; (xviii) the impact of events that cause or may cause disruption in the Company inspection, testing, manufacturing, distribution and sales networks such as war, terrorist activities, and political unrest; (xix) the extent and duration of the current recession in the global economy, including the timing of expected economic recovery in the United States and abroad; (xx) outcomes of litigation and regulatory actions; (xxi) our ability to protect our intellectual property and (xxii) the other risks and uncertainties described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s prospectus filed with the SEC on November 9, 2009 and in subsequent periodic reports on Forms 10-K, 10-Q and 8-K. You are urged to carefully review and consider the disclosure found in our filings which are available on http://www.sec.gov or http://www.strholdings.com. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove to be incorrect, actual results may vary materially from those projected in these forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise, except as may be required by law.
_____________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
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- Fourth Quarter Earnings Growth Driven by Improved Solar Market -
ENFIELD, Conn-STR Holdings, Inc. (NYSE: STRI) announced financial results for the fourth quarter and year ended December 31, 2009.
2009 Fourth Quarter Highlights include:
•Consolidated net sales rose 6.1% to $79.9 million compared with $75.4 million in the fourth quarter of 2008
•Diluted EPS of $0.23 vs. $0.09 a year ago; non-GAAP diluted EPS of $0.42 vs. $0.15 a year ago
•Solar net sales rose 42.3% to $50.3 million on a quarterly sequential basis and 4.2% compared with the same quarter last year
•Quality Assurance net sales of $29.6 million rose 9.4% compared with the fourth quarter of 2008
•Solar adjusted EBITDA rose 45.6% to $24.0 million on a quarterly sequential basis and 55.6% compared with the same quarter last year
•Operating cash flow of $11.2 million exceeded net income.
Fourth Quarter Financial Results
Solar segment net sales for the fourth quarter ended December 31, 2009 increased 42.3% on a quarterly sequential basis to $50.3 million and rose 4.2% from $48.3 million a year ago.
Solar segment adjusted EBITDA for the fourth quarter of 2009 was $24.0 million, up 45.6% from $16.5 million on a quarterly sequential basis as a result of a 43% increase in sales volume, improved labor efficiencies and favorable fixed cost absorption. Compared to the fourth quarter of 2008, Solar segment adjusted EBITDA is up 55.6% from $15.4 million. This is partially due to a $4.2 million charge to cost of goods sold in 2008 for a product performance claim related to a product that the Company discontinued in 2006.
Chairman, President and Chief Executive Officer Dennis L. Jilot stated, “As macro-economic conditions continue to improve, we are pleased with our solar segment’s fourth quarter results. Our revenue grew sequentially by 42.3% as expected reductions to solar subsidies in Germany and Italy and a favorably mild winter in Europe drove stronger-than-anticipated demand during the quarter. As the only encapsulant provider with manufacturing and distribution capabilities in North America, Europe and Asia, STR’s global footprint continues to be a key differentiator for us. This quarter, utilization of our Malaysian plant enabled us to increase our market penetration in Asia, including an increase in sales volume in China. Gross margin improved to 43.8%, a 550 basis point expansion from the third quarter of 2009.”
STR’s Quality Assurance (QA) segment net sales for the fourth quarter of 2009 rose 9.4% to $29.6 million, compared with $27.1 million a year ago as a result of increased testing for toy and private label markets as well as increased demand for its Responsible Sourcing social accountability services. QA adjusted EBITDA rose 8.0% to $5.8 million, from $5.4 million a year ago.
Selling, general and administrative expense for the fourth quarter of 2009 rose 132.0% to $18.8 million, compared with the same quarter last year. This increase was primarily the result of a $2.6 million one-time payment in connection with the termination of a 2007 advisory services agreement with DLJ Merchant Banking Partners, and an increase of approximately $5.1 million in non-cash stock-based compensation expense mainly due to the issuance of stock options to replace certain pre-IPO incentive units as a result of the change in capital structure from a limited liability company to a corporation.
Net income for the fourth quarter of 2009 rose 174.5% to $8.9 million or $0.23 on a diluted EPS basis, compared with $3.2 million, or $0.09 on a diluted EPS basis during the fourth quarter of 2008.
Non-GAAP net income for the fourth quarter of 2009 rose 194.3% to $16.5 million, or $0.42 on a diluted EPS basis. This compared with non-GAAP net income of $5.6 million, or $0.15 on a diluted EPS basis, for the fourth quarter of 2008, (See discussion of non-GAAP financial measures and the reconciliation table below for details).
During the fourth quarter of 2009, the Company generated $11.2 million of operating cash flow, up 28.9% from $8.7 million a year ago. Free cash flow, which is defined as operating cash flow less capital expenditures, increased 279%, or $10.7 million from the fourth quarter of 2008 mainly as a result of increased earnings, lower spending on capacity expansion and improved working capital performance.
STR’s Executive Vice President and Chief Financial Officer Barry A. Morris stated, “Our capital expenditures for 2009 totaled $17.8 million. We entered 2010 with our solar capacity utilization at approximately 55% and based on our growth projections, we anticipate beginning to fund our 2011 capacity expansion needs during the first half of 2010. Our strong balance sheet and operating cash flows give us the ability to internally fund expansion currently under development and provide us with flexibility in our pursuit of shareholder value creation.”
Financial Results for the year ended December 31, 2009:
•Total net sales were $264.9 million, compared with $288.6 million a year ago. Solar net sales were $149.5 million, down $32.8 million from $182.3 million a year ago, primarily attributable to an industry-wide over-supply of module inventory that resulted from unfavorable macro-economic conditions as well as the fourth quarter 2008 cut to the solar subsidy in Spain. QA net sales totaled $115.4 million, up from $106.3 million for 2008 due to strong demand and benefit from the increased regulatory environment
•Gross profit on a consolidated basis was $98.0 million, compared with $113.9 million in 2008
•Net income on a consolidated basis was $23.0 million, or $0.61 per diluted share, compared with $28.1 million, or $0.75 per diluted share, for 2008
•Non-GAAP net income for 2009 was $38.3 million, or $1.02 per diluted share, compared with $37.9 million, or $1.01 per diluted share for 2008
•Operating cash flow amounted to $47.9 million for the full year 2009, compared to $47.7 million for 2008.
Business Outlook
Mr. Jilot added, “Looking at the fourth quarter of 2009 and the first quarter of 2010, the anticipated changes to solar incentives in Germany and Italy have accelerated sales throughout the solar module supply chain. While we believe this is a long-term positive development for the industry, we expect that it could cause atypical sequential growth for STR compared with historical quarterly sales patterns. Overall, STR has a positive outlook for 2010 supported by our continued momentum into Asia, ambitious goals for clean energy in the United States, and the overall decline in module prices that we expect will increase end-user volume.”
The Company is providing the following first quarter and full year 2010 financial guidance, which it will discuss in greater detail on the conference call:
(Amounts in millions, except per share amounts)
Quarter Ending March 31, 2010 Low High
Solar net sales $ 52.0 $ 55.0
QA net sales 25.0 26.0
Total net sales 77.0 81.0
Diluted non-GAAP EPS $ 0.23 $ 0.25
Year Ending December 31, 2010 Low High
Solar net sales $ 185.0 $ 200.0
QA net sales 125.0 130.0
Total net sales 310.0 330.0
Diluted non-GAAP EPS $ 1.05 $ 1.10
Conference Call
STR will discuss these results for the fourth quarter and year ended December 31, 2009, as well as provide its business outlook for the first quarter and year ended December 31, 2010 in a conference call scheduled today, at 4:15 p.m. EDT. Dennis L. Jilot, Chairman, President and Chief Executive Officer and Barry A. Morris, Executive Vice President and Chief Financial Officer will host the call. Investors interested in participating in the live call from the U.S. should dial 866-700-0161 and enter passcode: 21726879. Those calling from outside the U.S. should dial 617-213-8832 and use the same passcode. A telephone replay will be available approximately two hours after the call concludes through Wednesday, March 31, 2010 by dialing 888-286-8010 from the U.S., or 617-801-6888 from international locations, and entering passcode: 86593293. There also will be a simultaneous live webcast available on the Investor Relations section of the Company’s website at http://www.strholdings.com. The webcast will be archived on the website for 365 days.
About STR Holdings, Inc.
STR Holdings, Inc. is a diversified global leader providing high quality, superior performance solar encapsulants to the photovoltaic module industry. It is also one of the world’s top providers of quality assurance testing, audit, inspection and responsible sourcing services. STR works with over 5,100 manufacturers, importers, raw materials suppliers and retailers around the globe to ensure that they have the highest level of confidence in the quality and safety of their products and the social standards of the supply chain producing them. Further information about STR Holdings, Inc. can be obtained via the Company’s website at http://www.strholdings.com.
Forward Looking Statements
This press release and any oral statement made in respect of the information in this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to inherent risks and uncertainties. These forward-looking statements present the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business and are based on assumptions that the Company has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors management believes are appropriate under the circumstances. However, these forward-looking statements are not guarantees of future performance or financial or operating results. In addition to the risks and uncertainties discussed in this release, the Company faces risks and uncertainties that include, but are not limited to, the following: (i) demand for solar energy in general and solar modules in particular; (ii) the timing and effects of the implementation of recently announced government incentives and policies for renewable energy, primarily in China and the United States; (iii) the effects of the recently announced proposed cut to solar incentives in Germany and Italy; (iv) customer concentration in the Company’s solar business and our relationships with key customers; (v) the continual operation of the Company’s Malaysian plant which commenced shipments in August 2009; (vi) the need to utilize its existing $20 million revolving credit facility, and the ability to further access the credit markets on acceptable terms; (vii) maintaining sufficient liquidity in order to fund future profitable growth and long term vitality; (viii) the continuing effects of the ongoing recession on sales; (ix) pricing pressures and other competitive factors; (x) the impact of the current negative credit markets may have on the Company or its customers or suppliers; (xi) loss of professional accreditations and memberships; (xii) the extent to which the Company may be required to write-off accounts receivable or inventory; (xiii) the Company’s reliance on vendors and potential supply chain disruptions, including those resulting from bankruptcy filings by customers or vendors; (xiv) any potential inflation of commodity costs, including paper and resin used in the Company’s encapsulants, and the Company’s ability to successfully manage any increases in these commodity costs; (xv) potential product performance matters, product liability or professional liability claims and the Company’s ability to manage them; (xvi) the impact of changes in foreign currency exchange rates on financial results, and the geographic distribution of revenues and earnings; (xvii) the impact of changes in interest rates in relation to the Company’s variable rate debt; (xviii) the impact of events that cause or may cause disruption in the Company inspection, testing, manufacturing, distribution and sales networks such as war, terrorist activities, and political unrest; (xix) the extent and duration of the current recession in the global economy, including the timing of expected economic recovery in the United States and abroad; (xx) outcomes of litigation and regulatory actions; (xxi) our ability to protect our intellectual property and (xxii) the other risks and uncertainties described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s prospectus filed with the SEC on November 9, 2009 and in subsequent periodic reports on Forms 10-K, 10-Q and 8-K. You are urged to carefully review and consider the disclosure found in our filings which are available on http://www.sec.gov or http://www.strholdings.com. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove to be incorrect, actual results may vary materially from those projected in these forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise, except as may be required by law.
_____________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
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Solar Stocks News ; SunPower ( SPWRA, SPWRB) Reports Fourth-Quarter, Year-End 2009 Results
Solar Stocks News ; SunPower ( SPWRA, SPWRB) Reports Fourth-Quarter, Year-End 2009 Results
-- Record Q4-2009 revenue of $548 million; fiscal-year 2009 revenue of $1.52 billion
-- Q4 GAAP EPS of $0.09 and non-GAAP EPS of $0.47 - includes $0.03 per share in accounting investigation expenses
-- Completed largest solar power plant in Italy, 24-megawatt (MW) project in Montalto
-- Completed construction of more than 100-MW rooftop and ground mount systems in 2009
-- More than doubled the number of SunPower dealers in 2009 to ~1,000 dealers in eight countries
-- Announced the acquisition of SunRay Renewable Energy - will add 1.2 gigawatt pipeline
-- Announced 200 MW, five year rooftop supply agreement with Southern California Edison
-- Financed 19-MW power plant for Xcel Energy in Colorado to be completed in 2010
-- Announced 32-MW supply agreement with Toshiba for 2010 delivery
-- Appointed Jim Pape to lead Residential and Commercial (R&C) business unit
SAN JOSE, Calif., March 18 ( Investorideas.com renewable energy/green newswire) -- SunPower Corp. ( SPWRA, SPWRB) today announced financial results for its 2009 fourth quarter and fiscal year 2009 which ended January 3, 2010. Revenue for the 2009 fourth quarter was $548 million which compares to $465 million in the third quarter of 2009 and $398 million in the fourth quarter of 2008. The company’s Components and Systems segments accounted for 62% and 38% of fourth-quarter 2009 revenue, respectively. The company also issued a press release reporting the results of its audit committee investigation concurrent with this release.
“Our 2009 year-end results reflect the continued success of our portfolio strategy to channels and geographic markets as we further expanded our global dealer presence and completed construction of more than 40 megawatts (MW) of large scale power plant projects during the fourth quarter,” said Tom Werner, SunPower’s CEO. “In the past four years, we have invested heavily in our long-term strategy of building our brand and channel, and this investment continues to pay off. In the residential channel, our strong brand enabled us to double the number of dealer partners in 2009 and we are selling our high-efficiency systems to approximately 1,000 dealer partners in eight countries. Additionally, as a result of our rapid growth and expanding customer base, we have started to re-align our business units into Residential and Commercial (R&C) and Utilities and Power Plants (UPP). As part of this strategy, we have appointed Jim Pape, former vice president of North America for Trane Commercial Systems, to lead our R&C business group. With more than 25 years of management experience, we are excited to have Jim join the team.
“In the systems segment, we added to our industry-leading installed base by delivering on our engineering, procurement and construction (EPC) commitments, installing more than 100 MW of rooftop and ground mounted systems in 2009. In the fourth quarter, we completed the largest Italian photovoltaic (PV) power plant to date at 24 MW, installed 10 MW for Florida Power & Light at the Kennedy Space Center, and substantially completed our 8-MW project for Exelon in Chicago. We are also encouraged by the continued improvement in credit conditions as evidenced by the recent financing of our 19-MW project with Xcel Energy in Colorado.
“Additionally, our global UPP pipeline continues to grow as customers are choosing SunPower for our industry-leading technology, bankability, significant EPC experience, and ability to offer a competitive levelized cost of energy. With the acquisition of SunRay Renewable Energy, we will significantly increase our demand visibility by adding more than 1,200 MW of Europe, Middle East and Africa (EMEA) power plant opportunities to our pipeline with more than 80 MW planned for delivery in Italy in 2010. This acquisition of the premiere European developer and financing team complements our established European team, enabling us to offer our customers a world-class utility power plant development expertise in both the United States and Europe. Looking forward, we see demand remaining strong for 2010 across all segments. Our recent wins with Toshiba and Southern California Edison position us well for multi-year supply agreements in our UPP business on top of our continued success in R&C,” Werner concluded.
On a Generally Accepted Accounting Principles (GAAP) basis for the 2009 fourth quarter, SunPower reported gross margin of 20.3%, operating income of $43.0 million and net income per diluted share of $0.09. This compares to gross margin of 21.5%, operating income of $46.2 million and net income per diluted share of $0.20 in the third quarter of 2009. As a result of the restatement, the fourth quarter of 2009 includes a $2.6 million benefit, or $0.02 earnings per share. The company’s fourth-quarter GAAP results include $3.6 million, or $0.03 per diluted share, in expenses related to its recently completed accounting investigation.
On a non-GAAP basis for the fourth quarter of 2009, SunPower reported a total gross margin of 21.7%. Operating income for the quarter was $60.3 million and net income per share was $0.47. The company’s fourth-quarter non-GAAP results include $3.6M million, or $0.03 per diluted share, in expenses related to the completed accounting investigation. As a result of the restatement, the fourth quarter of 2009 includes a $2.6 million benefit, or $0.02 earnings per share. In the third quarter 2009, the company reported non-GAAP gross margin of 23.1%, operating income of $63.8 million and $0.46 net income per share. For the 2009 fourth quarter, the Components segment non-GAAP gross margin was 21.5% and Systems segment gross margin was 21.9%. Non-GAAP figures are reconciled to the closest GAAP equivalent categories in the financial attachment of this press release.
“We improved our working capital efficiency during the fourth quarter reducing inventories by 12%, generating positive operating cash flow and ending the year with more than $925 million in cash and investments,” said Dennis Arriola, SunPower’s CFO. “Despite the difficult industry conditions in the first half of 2009, we grew revenue by 6% versus 2008. With the completion of the audit committee investigation, our efforts will focus on strengthening the trust with our stakeholders, customers and employees while driving increased shareholder value.
“Looking forward, our acquisition of SunRay positions us for more predictable growth in the second half of 2010 and into 2011. By extending into the development business, we expect to expand our gross profits as we monetize these power plants. We will strategically use our balance sheet to accelerate the development of these projects. This strategy will significantly shift the timing of revenue of these projects from the first half of the year to the second half of 2010,” concluded Arriola.
2010 Guidance
For fiscal year 2010, the company’s non-GAAP guidance is as follows: revenue of $2.0 billion to $2.25 billion, net income per diluted share of $1.25 to $1.65, capital expenditures of $375 million to $475 million, and solar cell production of approximately 550 MW. For fiscal year 2010, the company’s GAAP guidance is as follows: revenue of $2.00 billion to $2.25 billion and net income per diluted share of $0.05 to $0.35.
For the first quarter of 2010, the company’s non-GAAP guidance is as follows: revenue of $330 million to $350 million and net income per diluted share of approximately $0.05. Guidance for the first quarter of 2010 includes the negative impact of $3.3 million or $0.03 per diluted share in SunRay acquisition costs and $5.3 million or $0.04 per diluted share in costs associated with the company’s accounting investigation.
For the first quarter of 2010, the company’s GAAP guidance is as follows: revenue of $330 million to $350 million and net income per diluted share of approximately breakeven. Guidance includes the negative impact from the company’s accounting investigation and SunRay acquisition referenced above.
This press release contains both GAAP and non-GAAP financial information. Non-GAAP figures are reconciled to the closest GAAP equivalent categories in the financial attachment of this press release. Please note that the company has posted supplemental information and slides related to its fourth quarter 2009 performance on the Events and Presentations section of the SunPower Investor Relations page at http://investors.sunpowercorp.com/events.cfm. The capacity of power plants in this release is described in approximate MW on an alternating current (ac) basis while supply agreements are expressed in direct current (dc).
About SunPower
Founded in 1985, SunPower Corp. ( SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The company uses words and phrases such as "pipeline," "to be completed," "rapid," "growth," "expanding," "continues," "grow," "opportunities," "planed," "looking forward," "see," "demand," "remaining," "position," "continued," "predictable," "will," "guidance," and "expects" to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) acquisition of SunRay and increase in business pipeline of 1.2 gigawatt pipeline of opportunities in Europe, Middle East and Africa, including including more than 80 MW planned for delivery in Italy in 2010; (b) 200 MW, 5-year supply agreement with Southern California Edison; (c) construction schedule for 19-MW power plant for Xcel Energy; (d) rapid growth, expanding customer base, growing global UPP pipeline, and strong demand for 2010 across all segments; (e) improving credit conditions and bankability of SunPower projects; (f) the company's ability to offer competitive levelized cost of energy; (g) possible multi-year supply agreements in the company's UPP business and continued success in R&C; (h) increasing shareholder value; (i) predictable growth and expanding gross margins when the company monetizes power plants; (j) using the company's balance sheet to accelerate project development; (k) shifting revenue from first half of 2010 to second half of 2010; (l) GAAP and non-GAAP fiscal year 2010 revenue and net income per diluted share; (m) 2010 capital expenditures and solar cell production; (n) GAAP and non-GAAP first quarter 2010 revenue and net income per diluted share; and (o) estimated SunRay acquisition costs and accounting investigation costs. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) the company's ability to obtain and maintain an adequate supply of raw materials and components, as well as the price it pays for such items; (ii) general business and economic conditions, including seasonality of the industry; (iii) growth trends in the solar power industry; (iv) the continuation of governmental and related economic incentives promoting the use of solar power, particularly in Europe, Middle East, and Africa within the acquired pipeline; (v) the improved availability of third-party financing arrangements for the company's customers; (vi) construction difficulties or potential delays, including permitting and transmission access and upgrades; (vii) the company's ability to ramp new production lines and realize expected manufacturing efficiencies; (viii) manufacturing difficulties that could arise; (ix) the success of the company's ongoing research and development efforts to compete with other companies and competing technologies; (x) the company's ability to sell or otherwise monetize power plants; (xi) SCE's exercising early termination rights to purchase less than 200 megawatts during the term of the agreement; (xii) the satisfaction of closing conditions and the possibility that SunRay acquisition may not be completed; (xiii) potential difficulties associated with integrating the combined businesses; and (xiv) other risks described in the company's Annual Report on Form 10-K for the year ended December 28, 2008, its Quarterly Report on Form 10-Q for the quarter ended September 27, 2009, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Segment Reporting Information
For fourth quarter 2009 reporting purposes, the Systems segment generally represents products and services sold directly to the system owner. Additionally, both SunPower and third-party solar panels sold through the Systems segment channels are recorded as Systems segment revenue. The Components segment primarily represents products sold to installers and resellers.
Non-GAAP Measures
To supplement the consolidated financial results prepared under GAAP, SunPower uses non-GAAP measures which are adjusted from the most directly comparable GAAP results to exclude non-cash charges related to amortization of intangible assets, stock-based compensation, impairment of long-lived assets and interest expense, non-cash gain on purchased options related to the company’s convertible debt offering, and its related tax effects. Management does not consider these charges in evaluating the core operational activities of SunPower. Management uses these non-GAAP measures internally to make strategic decisions, forecast future results and evaluate SunPower’s current performance. Most analysts covering SunPower use the non-GAAP measures as well. Given management’s use of these non-GAAP measures, SunPower believes these measures are important to investors in understanding SunPower’s current and future operating results as seen through the eyes of management. In addition, management believes these non-GAAP measures are useful to investors in enabling them to better assess changes in SunPower’s core business across different time periods. These non-GAAP measures are not in accordance with or an alternative for GAAP financial data and may be different from non-GAAP measures used by other companies.
Fiscal Periods
The Company reports on a fiscal-year basis and ends its quarters on the Sunday closest to the end of the applicable calendar quarter, except in a 53-week fiscal year, in which case the additional week falls into the fourth quarter of that fiscal year. Fiscal year 2009 consists of 53 weeks while fiscal year 2008 consists of 52 weeks. The third quarter of fiscal 2009 ended on September 27, 2009 and the third quarter of fiscal 2008 ended on September 29, 2008.
SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.
Finanancial tables see Investor relations - http://investors.sunpowercorp.com
_________________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
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-- Record Q4-2009 revenue of $548 million; fiscal-year 2009 revenue of $1.52 billion
-- Q4 GAAP EPS of $0.09 and non-GAAP EPS of $0.47 - includes $0.03 per share in accounting investigation expenses
-- Completed largest solar power plant in Italy, 24-megawatt (MW) project in Montalto
-- Completed construction of more than 100-MW rooftop and ground mount systems in 2009
-- More than doubled the number of SunPower dealers in 2009 to ~1,000 dealers in eight countries
-- Announced the acquisition of SunRay Renewable Energy - will add 1.2 gigawatt pipeline
-- Announced 200 MW, five year rooftop supply agreement with Southern California Edison
-- Financed 19-MW power plant for Xcel Energy in Colorado to be completed in 2010
-- Announced 32-MW supply agreement with Toshiba for 2010 delivery
-- Appointed Jim Pape to lead Residential and Commercial (R&C) business unit
SAN JOSE, Calif., March 18 ( Investorideas.com renewable energy/green newswire) -- SunPower Corp. ( SPWRA, SPWRB) today announced financial results for its 2009 fourth quarter and fiscal year 2009 which ended January 3, 2010. Revenue for the 2009 fourth quarter was $548 million which compares to $465 million in the third quarter of 2009 and $398 million in the fourth quarter of 2008. The company’s Components and Systems segments accounted for 62% and 38% of fourth-quarter 2009 revenue, respectively. The company also issued a press release reporting the results of its audit committee investigation concurrent with this release.
“Our 2009 year-end results reflect the continued success of our portfolio strategy to channels and geographic markets as we further expanded our global dealer presence and completed construction of more than 40 megawatts (MW) of large scale power plant projects during the fourth quarter,” said Tom Werner, SunPower’s CEO. “In the past four years, we have invested heavily in our long-term strategy of building our brand and channel, and this investment continues to pay off. In the residential channel, our strong brand enabled us to double the number of dealer partners in 2009 and we are selling our high-efficiency systems to approximately 1,000 dealer partners in eight countries. Additionally, as a result of our rapid growth and expanding customer base, we have started to re-align our business units into Residential and Commercial (R&C) and Utilities and Power Plants (UPP). As part of this strategy, we have appointed Jim Pape, former vice president of North America for Trane Commercial Systems, to lead our R&C business group. With more than 25 years of management experience, we are excited to have Jim join the team.
“In the systems segment, we added to our industry-leading installed base by delivering on our engineering, procurement and construction (EPC) commitments, installing more than 100 MW of rooftop and ground mounted systems in 2009. In the fourth quarter, we completed the largest Italian photovoltaic (PV) power plant to date at 24 MW, installed 10 MW for Florida Power & Light at the Kennedy Space Center, and substantially completed our 8-MW project for Exelon in Chicago. We are also encouraged by the continued improvement in credit conditions as evidenced by the recent financing of our 19-MW project with Xcel Energy in Colorado.
“Additionally, our global UPP pipeline continues to grow as customers are choosing SunPower for our industry-leading technology, bankability, significant EPC experience, and ability to offer a competitive levelized cost of energy. With the acquisition of SunRay Renewable Energy, we will significantly increase our demand visibility by adding more than 1,200 MW of Europe, Middle East and Africa (EMEA) power plant opportunities to our pipeline with more than 80 MW planned for delivery in Italy in 2010. This acquisition of the premiere European developer and financing team complements our established European team, enabling us to offer our customers a world-class utility power plant development expertise in both the United States and Europe. Looking forward, we see demand remaining strong for 2010 across all segments. Our recent wins with Toshiba and Southern California Edison position us well for multi-year supply agreements in our UPP business on top of our continued success in R&C,” Werner concluded.
On a Generally Accepted Accounting Principles (GAAP) basis for the 2009 fourth quarter, SunPower reported gross margin of 20.3%, operating income of $43.0 million and net income per diluted share of $0.09. This compares to gross margin of 21.5%, operating income of $46.2 million and net income per diluted share of $0.20 in the third quarter of 2009. As a result of the restatement, the fourth quarter of 2009 includes a $2.6 million benefit, or $0.02 earnings per share. The company’s fourth-quarter GAAP results include $3.6 million, or $0.03 per diluted share, in expenses related to its recently completed accounting investigation.
On a non-GAAP basis for the fourth quarter of 2009, SunPower reported a total gross margin of 21.7%. Operating income for the quarter was $60.3 million and net income per share was $0.47. The company’s fourth-quarter non-GAAP results include $3.6M million, or $0.03 per diluted share, in expenses related to the completed accounting investigation. As a result of the restatement, the fourth quarter of 2009 includes a $2.6 million benefit, or $0.02 earnings per share. In the third quarter 2009, the company reported non-GAAP gross margin of 23.1%, operating income of $63.8 million and $0.46 net income per share. For the 2009 fourth quarter, the Components segment non-GAAP gross margin was 21.5% and Systems segment gross margin was 21.9%. Non-GAAP figures are reconciled to the closest GAAP equivalent categories in the financial attachment of this press release.
“We improved our working capital efficiency during the fourth quarter reducing inventories by 12%, generating positive operating cash flow and ending the year with more than $925 million in cash and investments,” said Dennis Arriola, SunPower’s CFO. “Despite the difficult industry conditions in the first half of 2009, we grew revenue by 6% versus 2008. With the completion of the audit committee investigation, our efforts will focus on strengthening the trust with our stakeholders, customers and employees while driving increased shareholder value.
“Looking forward, our acquisition of SunRay positions us for more predictable growth in the second half of 2010 and into 2011. By extending into the development business, we expect to expand our gross profits as we monetize these power plants. We will strategically use our balance sheet to accelerate the development of these projects. This strategy will significantly shift the timing of revenue of these projects from the first half of the year to the second half of 2010,” concluded Arriola.
2010 Guidance
For fiscal year 2010, the company’s non-GAAP guidance is as follows: revenue of $2.0 billion to $2.25 billion, net income per diluted share of $1.25 to $1.65, capital expenditures of $375 million to $475 million, and solar cell production of approximately 550 MW. For fiscal year 2010, the company’s GAAP guidance is as follows: revenue of $2.00 billion to $2.25 billion and net income per diluted share of $0.05 to $0.35.
For the first quarter of 2010, the company’s non-GAAP guidance is as follows: revenue of $330 million to $350 million and net income per diluted share of approximately $0.05. Guidance for the first quarter of 2010 includes the negative impact of $3.3 million or $0.03 per diluted share in SunRay acquisition costs and $5.3 million or $0.04 per diluted share in costs associated with the company’s accounting investigation.
For the first quarter of 2010, the company’s GAAP guidance is as follows: revenue of $330 million to $350 million and net income per diluted share of approximately breakeven. Guidance includes the negative impact from the company’s accounting investigation and SunRay acquisition referenced above.
This press release contains both GAAP and non-GAAP financial information. Non-GAAP figures are reconciled to the closest GAAP equivalent categories in the financial attachment of this press release. Please note that the company has posted supplemental information and slides related to its fourth quarter 2009 performance on the Events and Presentations section of the SunPower Investor Relations page at http://investors.sunpowercorp.com/events.cfm. The capacity of power plants in this release is described in approximate MW on an alternating current (ac) basis while supply agreements are expressed in direct current (dc).
About SunPower
Founded in 1985, SunPower Corp. ( SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The company uses words and phrases such as "pipeline," "to be completed," "rapid," "growth," "expanding," "continues," "grow," "opportunities," "planed," "looking forward," "see," "demand," "remaining," "position," "continued," "predictable," "will," "guidance," and "expects" to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) acquisition of SunRay and increase in business pipeline of 1.2 gigawatt pipeline of opportunities in Europe, Middle East and Africa, including including more than 80 MW planned for delivery in Italy in 2010; (b) 200 MW, 5-year supply agreement with Southern California Edison; (c) construction schedule for 19-MW power plant for Xcel Energy; (d) rapid growth, expanding customer base, growing global UPP pipeline, and strong demand for 2010 across all segments; (e) improving credit conditions and bankability of SunPower projects; (f) the company's ability to offer competitive levelized cost of energy; (g) possible multi-year supply agreements in the company's UPP business and continued success in R&C; (h) increasing shareholder value; (i) predictable growth and expanding gross margins when the company monetizes power plants; (j) using the company's balance sheet to accelerate project development; (k) shifting revenue from first half of 2010 to second half of 2010; (l) GAAP and non-GAAP fiscal year 2010 revenue and net income per diluted share; (m) 2010 capital expenditures and solar cell production; (n) GAAP and non-GAAP first quarter 2010 revenue and net income per diluted share; and (o) estimated SunRay acquisition costs and accounting investigation costs. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) the company's ability to obtain and maintain an adequate supply of raw materials and components, as well as the price it pays for such items; (ii) general business and economic conditions, including seasonality of the industry; (iii) growth trends in the solar power industry; (iv) the continuation of governmental and related economic incentives promoting the use of solar power, particularly in Europe, Middle East, and Africa within the acquired pipeline; (v) the improved availability of third-party financing arrangements for the company's customers; (vi) construction difficulties or potential delays, including permitting and transmission access and upgrades; (vii) the company's ability to ramp new production lines and realize expected manufacturing efficiencies; (viii) manufacturing difficulties that could arise; (ix) the success of the company's ongoing research and development efforts to compete with other companies and competing technologies; (x) the company's ability to sell or otherwise monetize power plants; (xi) SCE's exercising early termination rights to purchase less than 200 megawatts during the term of the agreement; (xii) the satisfaction of closing conditions and the possibility that SunRay acquisition may not be completed; (xiii) potential difficulties associated with integrating the combined businesses; and (xiv) other risks described in the company's Annual Report on Form 10-K for the year ended December 28, 2008, its Quarterly Report on Form 10-Q for the quarter ended September 27, 2009, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Segment Reporting Information
For fourth quarter 2009 reporting purposes, the Systems segment generally represents products and services sold directly to the system owner. Additionally, both SunPower and third-party solar panels sold through the Systems segment channels are recorded as Systems segment revenue. The Components segment primarily represents products sold to installers and resellers.
Non-GAAP Measures
To supplement the consolidated financial results prepared under GAAP, SunPower uses non-GAAP measures which are adjusted from the most directly comparable GAAP results to exclude non-cash charges related to amortization of intangible assets, stock-based compensation, impairment of long-lived assets and interest expense, non-cash gain on purchased options related to the company’s convertible debt offering, and its related tax effects. Management does not consider these charges in evaluating the core operational activities of SunPower. Management uses these non-GAAP measures internally to make strategic decisions, forecast future results and evaluate SunPower’s current performance. Most analysts covering SunPower use the non-GAAP measures as well. Given management’s use of these non-GAAP measures, SunPower believes these measures are important to investors in understanding SunPower’s current and future operating results as seen through the eyes of management. In addition, management believes these non-GAAP measures are useful to investors in enabling them to better assess changes in SunPower’s core business across different time periods. These non-GAAP measures are not in accordance with or an alternative for GAAP financial data and may be different from non-GAAP measures used by other companies.
Fiscal Periods
The Company reports on a fiscal-year basis and ends its quarters on the Sunday closest to the end of the applicable calendar quarter, except in a 53-week fiscal year, in which case the additional week falls into the fourth quarter of that fiscal year. Fiscal year 2009 consists of 53 weeks while fiscal year 2008 consists of 52 weeks. The third quarter of fiscal 2009 ended on September 27, 2009 and the third quarter of fiscal 2008 ended on September 29, 2008.
SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.
Finanancial tables see Investor relations - http://investors.sunpowercorp.com
_________________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
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Green Investor News, Poll: 3 out of 4 Americans Approve of Solar Energy Development on Public Lands
Green Investor News, Poll: 3 out of 4 Americans Approve of Solar Energy Development on Public Lands
Solar farms selected as top energy source for government support
WASHINGTON, March 18 ( Investorideas.com renewable energy/green newswire ) The Solar Energy Industries Association (SEIA) today released new national polling data showing that 75 percent of those surveyed support the development of solar energy plants on public lands not set aside for national parks or nature preserves. The poll was conducted by Gotham Research Group.
"This polling data confirms what we already knew," said SEIA President and CEO Rhone Resch. "The American public overwhelmingly supports the development of solar energy. It is time for our elected officials to respond to this high public demand and enact policies that allow solar to compete with other energy sources on a level playing field."
The survey also revealed that solar power was the top choice (38 percent) as the best use of public land. Respondents also selected solar farms and wind power (22 percent each) as the top energy sources that the government should prioritize for support, beating out natural gas (16 percent), nuclear (16 percent), oil (11 percent) and coal (4 percent).
The outlook for utility-scale solar in the U.S. is promising. Five new plants came online in 2009 (total 58 MW) and there are more than 100 utility-scale solar projects under development. These projects represent more than 17 gigawatts of capacity, enough to provide clean power to 3.4 million households and will create more than 100,000 American jobs.
"We expect a banner year for 2010, with more than 200 megawatts of utility-scale projects coming online," added Resch.
The findings of the survey are based on polling conducted from February 24 through February 26, 2010 among a representative sample of 500 U.S. adults, age 18+. The margin of error on the total sample of 500 is +/- 4.4 percent.
About SEIA:
Established in 1974, the Solar Energy Industries Association is the national trade association of the solar energy industry. As the voice of the industry, SEIA works with its 1,000 members to make solar a mainstream and significant energy source by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. Learn more at www.seia.org.
Background Resources:
Utility-Scale Solar Poll Findings by Gotham Research:
http://seia.org/galleries/pdf/UtilityScalePollResults.pdf
Utility-Scale Solar Fact Sheets:
http://www.seia.org/cs/solar_technology_and_products/concentrating_solar_power_csp
Habitat Conservation: http://seia.org/galleries/pdf/factsheet_habitat.pdf
Water Use: http://seia.org/galleries/pdf/factsheet_water_use.pdf
Land Use: http://seia.org/galleries/pdf/factsheet_land_use.pdf
SOURCE Solar Energy Industries Association_____________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
The renewable energy stocks directory can be previewed at : http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
Solar farms selected as top energy source for government support
WASHINGTON, March 18 ( Investorideas.com renewable energy/green newswire ) The Solar Energy Industries Association (SEIA) today released new national polling data showing that 75 percent of those surveyed support the development of solar energy plants on public lands not set aside for national parks or nature preserves. The poll was conducted by Gotham Research Group.
"This polling data confirms what we already knew," said SEIA President and CEO Rhone Resch. "The American public overwhelmingly supports the development of solar energy. It is time for our elected officials to respond to this high public demand and enact policies that allow solar to compete with other energy sources on a level playing field."
The survey also revealed that solar power was the top choice (38 percent) as the best use of public land. Respondents also selected solar farms and wind power (22 percent each) as the top energy sources that the government should prioritize for support, beating out natural gas (16 percent), nuclear (16 percent), oil (11 percent) and coal (4 percent).
The outlook for utility-scale solar in the U.S. is promising. Five new plants came online in 2009 (total 58 MW) and there are more than 100 utility-scale solar projects under development. These projects represent more than 17 gigawatts of capacity, enough to provide clean power to 3.4 million households and will create more than 100,000 American jobs.
"We expect a banner year for 2010, with more than 200 megawatts of utility-scale projects coming online," added Resch.
The findings of the survey are based on polling conducted from February 24 through February 26, 2010 among a representative sample of 500 U.S. adults, age 18+. The margin of error on the total sample of 500 is +/- 4.4 percent.
About SEIA:
Established in 1974, the Solar Energy Industries Association is the national trade association of the solar energy industry. As the voice of the industry, SEIA works with its 1,000 members to make solar a mainstream and significant energy source by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. Learn more at www.seia.org.
Background Resources:
Utility-Scale Solar Poll Findings by Gotham Research:
http://seia.org/galleries/pdf/UtilityScalePollResults.pdf
Utility-Scale Solar Fact Sheets:
http://www.seia.org/cs/solar_technology_and_products/concentrating_solar_power_csp
Habitat Conservation: http://seia.org/galleries/pdf/factsheet_habitat.pdf
Water Use: http://seia.org/galleries/pdf/factsheet_water_use.pdf
Land Use: http://seia.org/galleries/pdf/factsheet_land_use.pdf
SOURCE Solar Energy Industries Association_____________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
The renewable energy stocks directory can be previewed at : http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
Tuesday, March 16, 2010
Solar PV, Wind, and Biofuel Markets Expand by 11.4 Percent to $139.1 Billion in Collective Global Revenues in 2009
Solar PV, Wind, and Biofuel Markets Expand by 11.4 Percent to $139.1 Billion in Collective Global Revenues in 2009
Clean Edge’s Annual Clean Energy Trends Report Finds Clean-Energy Markets Holding Up in Tough Economic Climate
PORTLAND, Ore. & OAKLAND, Calif.-- March 16 (Investorideas.com Renewabke energy/green newswire )--Following one of the worst years in economic history, signs of hope have begun to emerge for the clean-tech sector, with clean energy becoming a driving force for global economic recovery from Beijing to Seoul, and Washington D.C. to Brussels. In 2009, combined global revenue for the three major clean-energy sectors – solar photovoltaics (PV), wind power, and biofuels – grew by 11.4 percent over 2008, reaching $139.1 billion. These three sectors are expected to reach $325.9 billion by 2019, according to the Clean Energy Trends 2010 report issued today by Clean Edge Inc., a research and publishing firm devoted to the clean-tech sector.
“Despite severe economic conditions, clean-energy markets were able to hold their momentum in 2009 as many regional and federal governments and private corporations focused on clean-energy investments as a way to pull out of the global economic tailspin”
.The annual Clean Energy Trends report, now in its ninth year, can be downloaded for free at www.cleanedge.com.
“Despite severe economic conditions, clean-energy markets were able to hold their momentum in 2009 as many regional and federal governments and private corporations focused on clean-energy investments as a way to pull out of the global economic tailspin,” said Ron Pernick, Clean Edge co-founder and managing director. “From the smart grid and energy efficiency to renewable energy generation and advanced battery storage, clean tech continues to be a major driver of regional job growth, economic recovery, and technological competitiveness.”
As always, the Clean Energy Trends report includes growth projections for the major clean-energy sectors (solar PV, wind, and biofuels), as well as global clean-tech investment and jobs data. The report’s key findings include:
•The global production and wholesale pricing of ethanol and biodiesel reached $44.9 billion in 2009 and is projected to grow to $112.5 billion by 2019. In 2009, the biofuel market consisted of more than 23.6 billion gallons of ethanol and biodiesel production worldwide.
•Wind power (new installation capital costs) is projected to expand from $63.5 billion in 2009 to $114.5 billion in 2019. Last year’s global wind power installations reached a record 37,500 MW. China, the first-time global leader in new installations, accounted for more than a third of new installations, with 13,000 MW.
•Solar PV will grow from a $30.7 billion industry in 2009 to $98.9 billion by 2019. New installations reached almost 6 GW worldwide in 2009, a nearly sixfold increase from five years earlier. But because of rapidly declining solar PV prices, industry revenue in 2009 fell about 20 percent, from $38.5 billion in 2008.
•U.S.-based venture capital investments in energy technologies declined from $3.2 billion in 2008 to $2.2 billion in 2009. However, clean energy’s percentage of total U.S. venture capital investments continued to rise, accounting for 12.5 percent of total activity in 2009. This represented the largest share in the history of the clean-energy asset class.
•The global solar PV and wind power industries together currently account for a total of more than 830,000 jobs worldwide. By 2019, global industry growth will push the total to more than 3.3 million jobs.
The report also examines many of the issues shaping the clean-energy marketplace, including the failure of nations to reach a global climate accord in Copenhagen; China’s seemingly unstoppable rise to global clean-tech dominance; and the growing ubiquity and declining cost of clean-energy technologies. An IPO Watch List tracks clean-technology companies that have recently filed for IPOs, as well as other likely candidates. The report also outlines five key trends that will impact the markets in the coming years:
•Carbon as a Feedstock: Win-Win or Pipe Dream?
•Steep PV Price Drops Redefine the Solar Industry
•Biomass Fires up Utilities and District Heating
•Clean-Tech Megaprojects See Big Advances – and Big Challenges
•High Speed Rail Surges Ahead – But at What Cost?
About Clean Energy Trends 2010
Clean Edge issues its annual Clean Energy Trends report to track key developments in clean-energy markets. Past reports have been downloaded by tens of thousands of individuals in government, finance, industry, and the media. Clean Energy Trends 2010 is made possible by the support of its sponsors, including premier sponsors Cascadia Capital, Deloitte, and Hobbs & Towne. Major sponsors include Akin Gump, Bloomberg New Energy Finance, Blue Practice, E2, and Mintz Levin. The report can be downloaded free of charge at www.cleanedge.com.
About Clean Edge, Inc.
Clean Edge, Inc., founded in 2000, is the world's first research and publishing firm devoted to the clean-tech sector. The company, with offices in the San Francisco Bay Area and Portland, Oregon, offers unparalleled insight and intelligence on emerging clean-tech trends, opportunities, and challenges for a range of clients, including companies, investors, governments, and nonprofits. The company publishes the annual Clean Energy Trends and Clean Tech Job Trends reports; produces the annual Clean-Tech Investor Summit (in partnership with IBF); maintains a number of benchmark clean-tech stock indexes with NASDAQ OMX including CELS, QGRD, and QWND; and produces the clean-tech-focused jobs board, Clean Edge Jobs. To learn more visit www.cleanedge.com.
Contacts
Clean Edge, Inc.
Ron Pernick, 503-493-8681
pernick@cleanedge.com
_________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
Clean Edge’s Annual Clean Energy Trends Report Finds Clean-Energy Markets Holding Up in Tough Economic Climate
PORTLAND, Ore. & OAKLAND, Calif.-- March 16 (Investorideas.com Renewabke energy/green newswire )--Following one of the worst years in economic history, signs of hope have begun to emerge for the clean-tech sector, with clean energy becoming a driving force for global economic recovery from Beijing to Seoul, and Washington D.C. to Brussels. In 2009, combined global revenue for the three major clean-energy sectors – solar photovoltaics (PV), wind power, and biofuels – grew by 11.4 percent over 2008, reaching $139.1 billion. These three sectors are expected to reach $325.9 billion by 2019, according to the Clean Energy Trends 2010 report issued today by Clean Edge Inc., a research and publishing firm devoted to the clean-tech sector.
“Despite severe economic conditions, clean-energy markets were able to hold their momentum in 2009 as many regional and federal governments and private corporations focused on clean-energy investments as a way to pull out of the global economic tailspin”
.The annual Clean Energy Trends report, now in its ninth year, can be downloaded for free at www.cleanedge.com.
“Despite severe economic conditions, clean-energy markets were able to hold their momentum in 2009 as many regional and federal governments and private corporations focused on clean-energy investments as a way to pull out of the global economic tailspin,” said Ron Pernick, Clean Edge co-founder and managing director. “From the smart grid and energy efficiency to renewable energy generation and advanced battery storage, clean tech continues to be a major driver of regional job growth, economic recovery, and technological competitiveness.”
As always, the Clean Energy Trends report includes growth projections for the major clean-energy sectors (solar PV, wind, and biofuels), as well as global clean-tech investment and jobs data. The report’s key findings include:
•The global production and wholesale pricing of ethanol and biodiesel reached $44.9 billion in 2009 and is projected to grow to $112.5 billion by 2019. In 2009, the biofuel market consisted of more than 23.6 billion gallons of ethanol and biodiesel production worldwide.
•Wind power (new installation capital costs) is projected to expand from $63.5 billion in 2009 to $114.5 billion in 2019. Last year’s global wind power installations reached a record 37,500 MW. China, the first-time global leader in new installations, accounted for more than a third of new installations, with 13,000 MW.
•Solar PV will grow from a $30.7 billion industry in 2009 to $98.9 billion by 2019. New installations reached almost 6 GW worldwide in 2009, a nearly sixfold increase from five years earlier. But because of rapidly declining solar PV prices, industry revenue in 2009 fell about 20 percent, from $38.5 billion in 2008.
•U.S.-based venture capital investments in energy technologies declined from $3.2 billion in 2008 to $2.2 billion in 2009. However, clean energy’s percentage of total U.S. venture capital investments continued to rise, accounting for 12.5 percent of total activity in 2009. This represented the largest share in the history of the clean-energy asset class.
•The global solar PV and wind power industries together currently account for a total of more than 830,000 jobs worldwide. By 2019, global industry growth will push the total to more than 3.3 million jobs.
The report also examines many of the issues shaping the clean-energy marketplace, including the failure of nations to reach a global climate accord in Copenhagen; China’s seemingly unstoppable rise to global clean-tech dominance; and the growing ubiquity and declining cost of clean-energy technologies. An IPO Watch List tracks clean-technology companies that have recently filed for IPOs, as well as other likely candidates. The report also outlines five key trends that will impact the markets in the coming years:
•Carbon as a Feedstock: Win-Win or Pipe Dream?
•Steep PV Price Drops Redefine the Solar Industry
•Biomass Fires up Utilities and District Heating
•Clean-Tech Megaprojects See Big Advances – and Big Challenges
•High Speed Rail Surges Ahead – But at What Cost?
About Clean Energy Trends 2010
Clean Edge issues its annual Clean Energy Trends report to track key developments in clean-energy markets. Past reports have been downloaded by tens of thousands of individuals in government, finance, industry, and the media. Clean Energy Trends 2010 is made possible by the support of its sponsors, including premier sponsors Cascadia Capital, Deloitte, and Hobbs & Towne. Major sponsors include Akin Gump, Bloomberg New Energy Finance, Blue Practice, E2, and Mintz Levin. The report can be downloaded free of charge at www.cleanedge.com.
About Clean Edge, Inc.
Clean Edge, Inc., founded in 2000, is the world's first research and publishing firm devoted to the clean-tech sector. The company, with offices in the San Francisco Bay Area and Portland, Oregon, offers unparalleled insight and intelligence on emerging clean-tech trends, opportunities, and challenges for a range of clients, including companies, investors, governments, and nonprofits. The company publishes the annual Clean Energy Trends and Clean Tech Job Trends reports; produces the annual Clean-Tech Investor Summit (in partnership with IBF); maintains a number of benchmark clean-tech stock indexes with NASDAQ OMX including CELS, QGRD, and QWND; and produces the clean-tech-focused jobs board, Clean Edge Jobs. To learn more visit www.cleanedge.com.
Contacts
Clean Edge, Inc.
Ron Pernick, 503-493-8681
pernick@cleanedge.com
_________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
Monday, March 15, 2010
Solar Stocks News; First Solar (Nasdaq: FSLR) Sells 30 Megawatt Solar Photovoltaic Power Project to Southern Company and Turner Renewable Energy
Solar Stocks News; First Solar (Nasdaq: FSLR) Sells 30 Megawatt Solar Photovoltaic Power Project to Southern Company and Turner Renewable Energy
TEMPE, Ariz (Investorideas.com renewable energy/green newswire )--First Solar, Inc. (Nasdaq: FSLR) today announced it has sold a 30 megawatt (AC) photovoltaic solar power project to Southern Company (NYSE: SO) and Turner Renewable Energy. Financial terms of the transaction were not disclosed.
The Cimarron I Solar Project is adjacent to the Vermejo Park Ranch in northern New Mexico. First Solar developed the project and is providing engineering, procurement and construction (EPC) services. First Solar will also provide operation and maintenance services under a 25-year contract. The facility will supply power to approximately 9,000 homes, or 18,000 residents, and displace over 45,000 tons of CO2 per year.
“The Cimarron I project is yet another example of First Solar’s capability to realize utility-scale solar projects,” said Rob Gillette, First Solar chief executive officer. “Combining the required technology, manufacturing, project development and EPC expertise enables First Solar to be a leader in sustainable energy development.”
Construction of the solar project will begin this month, with completion and commercial operation expected by year end 2010. It will employ approximately 500,000 photovoltaic modules manufactured by First Solar using its advanced thin film technology. The project will create over 200 jobs at construction peak.
Electricity generated by the plant will serve a 25-year power purchase agreement with the Tri-State Generation and Transmission Association, a not-for-profit wholesale power supplier to 44 electric cooperatives serving 1.4 million customers across Colorado, Nebraska, New Mexico and Wyoming.
About First Solar
First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. The company is delivering an economically viable alternative to fossil-fuel generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective, renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit http://www.firstsolar.com
For First Solar Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described
_______________________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
TEMPE, Ariz (Investorideas.com renewable energy/green newswire )--First Solar, Inc. (Nasdaq: FSLR) today announced it has sold a 30 megawatt (AC) photovoltaic solar power project to Southern Company (NYSE: SO) and Turner Renewable Energy. Financial terms of the transaction were not disclosed.
The Cimarron I Solar Project is adjacent to the Vermejo Park Ranch in northern New Mexico. First Solar developed the project and is providing engineering, procurement and construction (EPC) services. First Solar will also provide operation and maintenance services under a 25-year contract. The facility will supply power to approximately 9,000 homes, or 18,000 residents, and displace over 45,000 tons of CO2 per year.
“The Cimarron I project is yet another example of First Solar’s capability to realize utility-scale solar projects,” said Rob Gillette, First Solar chief executive officer. “Combining the required technology, manufacturing, project development and EPC expertise enables First Solar to be a leader in sustainable energy development.”
Construction of the solar project will begin this month, with completion and commercial operation expected by year end 2010. It will employ approximately 500,000 photovoltaic modules manufactured by First Solar using its advanced thin film technology. The project will create over 200 jobs at construction peak.
Electricity generated by the plant will serve a 25-year power purchase agreement with the Tri-State Generation and Transmission Association, a not-for-profit wholesale power supplier to 44 electric cooperatives serving 1.4 million customers across Colorado, Nebraska, New Mexico and Wyoming.
About First Solar
First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. The company is delivering an economically viable alternative to fossil-fuel generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective, renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit http://www.firstsolar.com
For First Solar Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described
_______________________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
Thursday, March 11, 2010
JUHL Wind Partners with Honeywell on U.S. Department of Energy Project
JUHL Wind Partners with Honeywell on U.S. Department of Energy Project
March 11, 2010 - Juhl Wind Inc. (OTC Bulletin Board: JUHL), the Leader in Community Wind Power, today announced that Juhl Wind and Honeywell International have been awarded a United States Department of Energy program to test the application of an advanced "Condition Monitoring System" to provide remotely controlled data monitoring for turbine maintenance. Within the project, Honeywell will be providing technology which is designed to improve reliability and reduce maintenance costs of turbine systems and Juhl will be providing the field application, installation, monitoring and support.
"We're very excited to move forward with this Department of Energy project and to be working with Honeywell on such an advanced system," stated Dan Juhl, CEO of Juhl Wind. "Juhl has worked with a variety of industry leaders and federal and state officials in the past, but this is the first federal project in which we'll have an active role. This represents the strength of our growing wind farm operations and maintenance business."
"We currently provide administrative, operations and maintenance services for many of the wind farms we've already developed and we intend to provide these same services for a majority of our new projects," Juhl continued. "If we can find a reliable technology, like Honeywell's condition monitoring system, our maintenance business will be much more competitive while we also improve the level of reliability we provide our wind farm owners. We expect this portion of our business to grow significantly during the next few years."
About Juhl Wind Inc: Juhl Wind is an established leader in Community Based Wind Power development and management, focused on wind farm projects throughout the United States and Canada. Juhl Wind pioneered community-based wind farms, developing the currently accepted financial, operational and legal structure providing local ownership of medium-to-large scale wind farms. To date, the Company has completed 14 wind farm projects and provides operations management and oversight across the portfolio. Juhl Wind services every aspect of wind farm development from full development and ownership, general consultation, construction management and system operations and maintenance. With its acquisition of Next Generation Power Systems ("NextGen'), Juhl Wind now provides full sales and service to smaller, on-site wind and solar projects in addition to our larger Community Wind Farms. Juhl Wind is traded on the OTCBB under the symbol JUHL.OB. Additional information is available at www.juhlwind.com.
Forward Looking Statements: This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Juhl Wind's current expectations about its future results, performance, prospects and opportunities. Juhl Wind has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to Juhl Wind and are subject to a number of risks, uncertainties and other factors that could cause Juhl Wind's actual results, performance, prospects or opportunities in the remainder of 2010 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements and specifically those statements referring to new projects like the GL Wind project mentioned herein. New projects are subject to large, third party risks that may not be in control of Juhl Wind including the availability of project equity, debt financing and wind turbines and risks associated with project timing. These risks are referenced in Juhl Wind's current 8K or as may be described from time to time in Juhl Wind's subsequent SEC filings; and such factors as incorporated by reference.
Disclaimer: This newsletter in not a solicitation to purchase securities. Hanover Financial Services (HFS) and/or its affiliates are not registered as Investment Advisors in any jurisdiction whatsoever. Recipients of this email newsletter agree to hold HFS, its operators, owners, and employees harmless and completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur from the purchase or sale of securities mentioned herein.. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. The owner, publisher, editor and their associates are not responsible for errors and omissions. HFS and/or its affiliates may from time to time have positions in the securities mentioned herein, may increase or decrease such positions without notice, and may profit from such transactions. HFS has been compensated by a JUHL Wind, a sum of five thousand dollars to provide business development consulting services to JUHL Wind for a period of one month. Any opinions expressed herein are subject to change without notice. HFS encourages readers and investors to supplement the information in these reports with independent research and other professional advice
______________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
March 11, 2010 - Juhl Wind Inc. (OTC Bulletin Board: JUHL), the Leader in Community Wind Power, today announced that Juhl Wind and Honeywell International have been awarded a United States Department of Energy program to test the application of an advanced "Condition Monitoring System" to provide remotely controlled data monitoring for turbine maintenance. Within the project, Honeywell will be providing technology which is designed to improve reliability and reduce maintenance costs of turbine systems and Juhl will be providing the field application, installation, monitoring and support.
"We're very excited to move forward with this Department of Energy project and to be working with Honeywell on such an advanced system," stated Dan Juhl, CEO of Juhl Wind. "Juhl has worked with a variety of industry leaders and federal and state officials in the past, but this is the first federal project in which we'll have an active role. This represents the strength of our growing wind farm operations and maintenance business."
"We currently provide administrative, operations and maintenance services for many of the wind farms we've already developed and we intend to provide these same services for a majority of our new projects," Juhl continued. "If we can find a reliable technology, like Honeywell's condition monitoring system, our maintenance business will be much more competitive while we also improve the level of reliability we provide our wind farm owners. We expect this portion of our business to grow significantly during the next few years."
About Juhl Wind Inc: Juhl Wind is an established leader in Community Based Wind Power development and management, focused on wind farm projects throughout the United States and Canada. Juhl Wind pioneered community-based wind farms, developing the currently accepted financial, operational and legal structure providing local ownership of medium-to-large scale wind farms. To date, the Company has completed 14 wind farm projects and provides operations management and oversight across the portfolio. Juhl Wind services every aspect of wind farm development from full development and ownership, general consultation, construction management and system operations and maintenance. With its acquisition of Next Generation Power Systems ("NextGen'), Juhl Wind now provides full sales and service to smaller, on-site wind and solar projects in addition to our larger Community Wind Farms. Juhl Wind is traded on the OTCBB under the symbol JUHL.OB. Additional information is available at www.juhlwind.com
Forward Looking Statements: This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Juhl Wind's current expectations about its future results, performance, prospects and opportunities. Juhl Wind has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to Juhl Wind and are subject to a number of risks, uncertainties and other factors that could cause Juhl Wind's actual results, performance, prospects or opportunities in the remainder of 2010 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements and specifically those statements referring to new projects like the GL Wind project mentioned herein. New projects are subject to large, third party risks that may not be in control of Juhl Wind including the availability of project equity, debt financing and wind turbines and risks associated with project timing. These risks are referenced in Juhl Wind's current 8K or as may be described from time to time in Juhl Wind's subsequent SEC filings; and such factors as incorporated by reference.
Disclaimer: This newsletter in not a solicitation to purchase securities. Hanover Financial Services (HFS) and/or its affiliates are not registered as Investment Advisors in any jurisdiction whatsoever. Recipients of this email newsletter agree to hold HFS, its operators, owners, and employees harmless and completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur from the purchase or sale of securities mentioned herein.. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. The owner, publisher, editor and their associates are not responsible for errors and omissions. HFS and/or its affiliates may from time to time have positions in the securities mentioned herein, may increase or decrease such positions without notice, and may profit from such transactions. HFS has been compensated by a JUHL Wind, a sum of five thousand dollars to provide business development consulting services to JUHL Wind for a period of one month. Any opinions expressed herein are subject to change without notice. HFS encourages readers and investors to supplement the information in these reports with independent research and other professional advice
______________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
FuelCell Energy (Nasdaq:FCEL) Releases Data for First Year of Ultra-Clean Hybrid Power Plant's Operation
FuelCell Energy (Nasdaq:FCEL) Releases Data for First Year of Ultra-Clean Hybrid Power Plant's Operation
DFC-ERG System Significantly Reduces Air Emissions Over Power Generation Alternatives While Achieving Record Peak Electrical Efficiency Over 70 Percent Commercial-Level Up-Time
DANBURY, Conn., March 11, 2010 (Investorideas.com Renewable energy/green newswire ) -- FuelCell Energy, Inc. (Nasdaq:FCEL), a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government and utility customers, today reported its hybrid power plant attained an average electrical efficiency of 62.5 percent, equipment up-time of 93 percent and reduced greenhouse gas emissions of up to 45 percent.
In its first full year of operation, the Direct FuelCell-Energy Recovery Generation(TM) (DFC-ERG(R)) power plant, a joint project with Enbridge Inc., achieved results underscoring its success over a range of scenarios. Since January 2009, Enbridge monitored the DFC-ERG plant under several configurations -- matching operating modes for different markets -- to measure its emissions and electrical efficiency (that is, the percentage of fuel converted to useful grid power).
While the DFC-ERG unit demonstrated an availability averaging 93 percent for the entire year, it exceeded 96 percent availability during the final six months of 2009. Similarly, although its average electrical efficiency of 62.5 percent compares favorably to a typical conventional fossil fuel generation of about 35 to 40 percent, the plant's peak electrical efficiency topped 70 percent in some of the scenarios under which it was evaluated. In all of those tests, the benchmark for air quality used was California's toughest-in-the-nation clean air standards.
The system's high electrical efficiency allowed it to reduce greenhouse gas emissions by up to 45 percent compared to a conventional natural gas power plant (based on Environment Canada's "National Inventory Report -- Greenhouse Gas Sources and Sinks in Canada 1990--2007").
"All the time we were operating this plant and getting remarkable electrical efficiencies, we were seeing availability numbers in the 90s," said Chuck Szmurlo, Vice President, Alternative and Emerging Technologies, Enbridge. "That tells me this is a commercially robust technology. We will submit our results to be independently verified and, when the review is complete, we'll disclose our data to the industry."
Although Toronto represents the initial DFC-ERG installation, FuelCell Energy and Enbridge are advancing the necessary commitments for others totaling 18 MW, which were selected by the Connecticut Clean Energy fund as part of that state's renewable energy portfolio. Gas utilities in other U.S. states also are evaluating the technology. International interest stems from the Toronto project's evaluation by the Asia Pacific Partnership (APP), a clean energy cooperative involving Australia, Canada, China, India, Japan, South Korea and the United States.
"Enbridge's validation of the DFC-ERG system is a significant milestone, especially since the market potential is worldwide," said R. Daniel Brdar, CEO and Chairman of FuelCell Energy. "It gives gas utilities a way of improving pipeline efficiency, reducing emissions and delivering clean energy to the world's power grid as a byproduct of their daily operations."
DFC-ERG plant harvests waste energy while reducing pollution
Natural gas is transported via pipelines for use throughout North America. Over most of this route, gas is maintained under high pressure. As the gas enters urban centers, its pressure is purposely reduced at "letdown" stations so it may be safely distributed to homes and businesses.
Normally, the pressure-reduction process involves heating the gas -- a step which itself burns some gas, wasting energy and sending pollutants into the air. Integrating a DFC-ERG unit with a letdown station reduces or eliminates this local source of emissions while harvesting energy from the moving gas for clean power. The fuel cell, a non-combustion means of generating ultra-clean energy, also provides additional electricity while using the high quality, zero emission heat to reduce the pollutants normally linked to preheating the natural gas.
The DFC-ERG power plant in Toronto generates ultra-clean electricity while harvesting energy normally lost during natural gas pipeline distribution operations. A joint development effort of FuelCell Energy and Enbridge, the system produces 2.2 megawatts (MW) of electricity, enough to power approximately 1,700 homes.
Funding for the project includes $2.3 million from Natural Resources Canada and a $500,000 grant from the Ontario Ministry of Research and Innovation. NYSEARCH, the research arm of the Northeast Gas Association, also provided funding for the project's performance monitoring so US-based gas utilities can better understand how the technology might be adapted for their pipeline networks. Support was provided by the City of Toronto, which enacted a measure allowing residents and businesses to export clean electricity to the grid.
The technology is marketed as the DFC-ERG system in the United States and as Hybrid FuelCells in Canada. More information about the technology is available from FuelCell Energy. Fuel cells are a key technology that supports a portfolio of low-carbon energy supplies that can be viewed on the Enbridge Web site. An independently produced video about the Toronto power plant is available at The Discovery Channel, which is responsible for its own content.
About FuelCell Energy
FuelCell Energy is the world leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers. FuelCell Energy's ultra-clean and high efficiency DFC(R) fuel cells are generating power at more than 50 locations worldwide. The company's power plants have generated over 450 million kilowatt hours of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers and power companies around the world. The company also receives funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as fuel cells. For more information please visit our website at http://www.fuelcellenergy.com/.
About Enbridge Inc.
Enbridge Inc., a Canadian company, is a North American leader in delivering energy. As a transporter of energy, Enbridge operates through its wholly owned subsidiaries, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a growing involvement in the natural gas transmission and midstream businesses, and is expanding its interests in renewable and green energy technologies, including wind and solar energy, hybrid fuel cells and carbon dioxide sequestration. As a distributor of energy, Enbridge owns Enbridge Gas Distribution Inc., Canada's largest natural gas distribution company and provides distribution services to about 1.9 million customers in Ontario, New York State, New Brunswick and southwestern Quebec. A Top 100 Canadian Employer for 2010, Enbridge employs approximately 6,000 people, primarily in Canada and the U.S. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit enbridge.com.
This news release contains forward-looking statements, including statements regarding FuelCell Energy's and Enbridge's plans and expectations regarding the continuing development and commercialization of fuel cell technology and financing of related business plans. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, potential volatility of energy prices, rapid technological change, competition, and FuelCell Energy's and Enbridge's respective ability to achieve its sales plans and cost reduction targets, as well as other risks set forth in FuelCell Energy's and Enbridge's respective filings with the U.S. Securities and Exchange Commission and Canadian securities regulators, as applicable. The forward-looking statements contained herein speak only as of the date of this press release. Both FuelCell Energy and Enbridge expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
Direct FuelCell, DFC and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc.
DFC-ERG is a registered trademark of Enbridge Inc. and FuelCell Energy, Inc.
_______________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
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Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
DFC-ERG System Significantly Reduces Air Emissions Over Power Generation Alternatives While Achieving Record Peak Electrical Efficiency Over 70 Percent Commercial-Level Up-Time
DANBURY, Conn., March 11, 2010 (Investorideas.com Renewable energy/green newswire ) -- FuelCell Energy, Inc. (Nasdaq:FCEL), a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government and utility customers, today reported its hybrid power plant attained an average electrical efficiency of 62.5 percent, equipment up-time of 93 percent and reduced greenhouse gas emissions of up to 45 percent.
In its first full year of operation, the Direct FuelCell-Energy Recovery Generation(TM) (DFC-ERG(R)) power plant, a joint project with Enbridge Inc., achieved results underscoring its success over a range of scenarios. Since January 2009, Enbridge monitored the DFC-ERG plant under several configurations -- matching operating modes for different markets -- to measure its emissions and electrical efficiency (that is, the percentage of fuel converted to useful grid power).
While the DFC-ERG unit demonstrated an availability averaging 93 percent for the entire year, it exceeded 96 percent availability during the final six months of 2009. Similarly, although its average electrical efficiency of 62.5 percent compares favorably to a typical conventional fossil fuel generation of about 35 to 40 percent, the plant's peak electrical efficiency topped 70 percent in some of the scenarios under which it was evaluated. In all of those tests, the benchmark for air quality used was California's toughest-in-the-nation clean air standards.
The system's high electrical efficiency allowed it to reduce greenhouse gas emissions by up to 45 percent compared to a conventional natural gas power plant (based on Environment Canada's "National Inventory Report -- Greenhouse Gas Sources and Sinks in Canada 1990--2007").
"All the time we were operating this plant and getting remarkable electrical efficiencies, we were seeing availability numbers in the 90s," said Chuck Szmurlo, Vice President, Alternative and Emerging Technologies, Enbridge. "That tells me this is a commercially robust technology. We will submit our results to be independently verified and, when the review is complete, we'll disclose our data to the industry."
Although Toronto represents the initial DFC-ERG installation, FuelCell Energy and Enbridge are advancing the necessary commitments for others totaling 18 MW, which were selected by the Connecticut Clean Energy fund as part of that state's renewable energy portfolio. Gas utilities in other U.S. states also are evaluating the technology. International interest stems from the Toronto project's evaluation by the Asia Pacific Partnership (APP), a clean energy cooperative involving Australia, Canada, China, India, Japan, South Korea and the United States.
"Enbridge's validation of the DFC-ERG system is a significant milestone, especially since the market potential is worldwide," said R. Daniel Brdar, CEO and Chairman of FuelCell Energy. "It gives gas utilities a way of improving pipeline efficiency, reducing emissions and delivering clean energy to the world's power grid as a byproduct of their daily operations."
DFC-ERG plant harvests waste energy while reducing pollution
Natural gas is transported via pipelines for use throughout North America. Over most of this route, gas is maintained under high pressure. As the gas enters urban centers, its pressure is purposely reduced at "letdown" stations so it may be safely distributed to homes and businesses.
Normally, the pressure-reduction process involves heating the gas -- a step which itself burns some gas, wasting energy and sending pollutants into the air. Integrating a DFC-ERG unit with a letdown station reduces or eliminates this local source of emissions while harvesting energy from the moving gas for clean power. The fuel cell, a non-combustion means of generating ultra-clean energy, also provides additional electricity while using the high quality, zero emission heat to reduce the pollutants normally linked to preheating the natural gas.
The DFC-ERG power plant in Toronto generates ultra-clean electricity while harvesting energy normally lost during natural gas pipeline distribution operations. A joint development effort of FuelCell Energy and Enbridge, the system produces 2.2 megawatts (MW) of electricity, enough to power approximately 1,700 homes.
Funding for the project includes $2.3 million from Natural Resources Canada and a $500,000 grant from the Ontario Ministry of Research and Innovation. NYSEARCH, the research arm of the Northeast Gas Association, also provided funding for the project's performance monitoring so US-based gas utilities can better understand how the technology might be adapted for their pipeline networks. Support was provided by the City of Toronto, which enacted a measure allowing residents and businesses to export clean electricity to the grid.
The technology is marketed as the DFC-ERG system in the United States and as Hybrid FuelCells in Canada. More information about the technology is available from FuelCell Energy. Fuel cells are a key technology that supports a portfolio of low-carbon energy supplies that can be viewed on the Enbridge Web site. An independently produced video about the Toronto power plant is available at The Discovery Channel, which is responsible for its own content.
About FuelCell Energy
FuelCell Energy is the world leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers. FuelCell Energy's ultra-clean and high efficiency DFC(R) fuel cells are generating power at more than 50 locations worldwide. The company's power plants have generated over 450 million kilowatt hours of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers and power companies around the world. The company also receives funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as fuel cells. For more information please visit our website at http://www.fuelcellenergy.com/.
About Enbridge Inc.
Enbridge Inc., a Canadian company, is a North American leader in delivering energy. As a transporter of energy, Enbridge operates through its wholly owned subsidiaries, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a growing involvement in the natural gas transmission and midstream businesses, and is expanding its interests in renewable and green energy technologies, including wind and solar energy, hybrid fuel cells and carbon dioxide sequestration. As a distributor of energy, Enbridge owns Enbridge Gas Distribution Inc., Canada's largest natural gas distribution company and provides distribution services to about 1.9 million customers in Ontario, New York State, New Brunswick and southwestern Quebec. A Top 100 Canadian Employer for 2010, Enbridge employs approximately 6,000 people, primarily in Canada and the U.S. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit enbridge.com.
This news release contains forward-looking statements, including statements regarding FuelCell Energy's and Enbridge's plans and expectations regarding the continuing development and commercialization of fuel cell technology and financing of related business plans. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, potential volatility of energy prices, rapid technological change, competition, and FuelCell Energy's and Enbridge's respective ability to achieve its sales plans and cost reduction targets, as well as other risks set forth in FuelCell Energy's and Enbridge's respective filings with the U.S. Securities and Exchange Commission and Canadian securities regulators, as applicable. The forward-looking statements contained herein speak only as of the date of this press release. Both FuelCell Energy and Enbridge expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
Direct FuelCell, DFC and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc.
DFC-ERG is a registered trademark of Enbridge Inc. and FuelCell Energy, Inc.
_______________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
Wednesday, March 10, 2010
Competition Picks Valcent (OTCBB:VCTZF) as One of the Ten Best Companies in the World for a Sustainable Future
Nike, U.S. State Department, NASA and USAID-Sponsored Competition Picks Valcent (OTCBB:VCTZF) as One of the Ten Best Companies in the World for a Sustainable Future
VANCOUVER, BRITISH COLUMBIA - March 10, 2010 - Valcent Products Inc. (OTC.BB:VCTZF) - LAUNCH, a global initiative whose Founding Partners include NASA, USAID, the U.S. State Department and Nike, which identifies and supports innovative work poised to contribute to a sustainable future, has selected Valcent's VertiCrop™ vertical farming technology as one of ten global innovations from a field of 150 pioneering projects. As one of ten featured leaders in sustainability, Valcent will present their advances on large scale hydroponic agriculture at the premiere LAUNCH event at the Water at Kennedy Space Center on March 16th to 18th 2010.
Amidst the backdrop of shuttle launch mission STS-131, a distinguished group of leaders from government, business, science, engineering, communications and sustainability will convene to learn about Valcent's vertical farming innovations in a collaborative forum designed to help accelerate the company's progress. Along with the initiatives' Founding Partners and Resource Partners which include The Pacific Institute, Sandia National Labs and The Water Center of the Earth Institute, LAUNCH was formed as a collaborative forum and incubator to engage and champion innovative ideas, companies, programs and technologies focused on a series of sustainability challenges.
"Our world's balance between demand and supply of food is sensitive to climate change, fuel demands, access to water and our investments in research and infrastructure," said Stephen Kennedy Smith, President of Em-Link LLC, the Boston-based Master Distributor for Valcent in the United States. "We are honored to receive recognition from this esteemed panel of judges who recognize Valcent's VertiCrop™ technology as vital to accelerating innovation for a sustainable future. We look forward to the panelists' valuable input on our initiatives involving vertical agriculture using recycled resources and hydroponics, which is the practice of growing plants without soil and which allows for the production of fruit and vegetables in spaces outside of traditional farms."
"We are honored that our vertical farming technology is recognized as an important innovation by LAUNCH," says Chris Bradford, President, CEO, and Director of Valcent Products Inc. "We have entered a new era of urban agriculture where we can deliver locally grown crops that provide a nutritionally superior product that is healthier for the communities they serve."
Valcent's VertiCrop™ technology will be profiled on the LAUNCH web site and featured in a custom produced video profile in collaboration with Nike.
About Valcent Products Inc.:
Valcent Products Inc. (OTC.BB:VCTZF) specializes in growing solutions and plant based consumer products and is a leader in the development of innovative and practical eco-technologies. For more information, visit: www.valcent.net and www.valcent.eu and contribute at http://blog.valcent.net/.
Contacts:
Investor Relations
Gerry Jardine or Mike Parker
(604) 608-6192
Toll Free 1 888 506-7979
info@valcent.net
Media Relations
Nancy Tamosaitis-Thompson
Vorticom Public Relations
(212) 532-2208
Nancyt@vorticom.com
Safe Harbor for Forward Looking Statements: This press release contains forward-looking information, in that it describes events and conditions, which Valcent Products, Inc. reasonably expects to occur in the future, and statements including opinions, assumptions and estimates. Forwardlooking statements include information that does not relate strictly to historical or current facts. When used in this document, the words "seeks", "anticipate", "believe", estimate", "expect", "forecast", "intent", "may", "project", "plan", "potential", "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to a wide range of known and unknown risks and uncertainties, including inability to complete sales in process or develop positive cash flow from anticipated product sales, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. We have attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. The risks and uncertainties that could affect future events or the Company's future financial performance are more fully described in the Company's quarterly reports (on Form 6-K filed in the US and the financial statements and Form 51-102F1 filed in Canada), the Company's annual reports (on Form 20-F filed in the US and the financial statements and Form 51-102F1 filed in Canada) and the other recent filings in the US and Canada. These filings are available at www.sec.gov in the US and www.sedar.com in Canada. For all such forward-looking statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Valcent disclaims any obligation to update any forward-looking statement made herein.
Request news and stock alerts from Valcent Products Inc. (OTCBB: VCTZF) http://www.investorideas.com/Resources/Newsletter.asp
Disclosure: Valcent Products Inc. is a paid advertising client on Investorideas.com and our mining portals.
________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Investor Ideas members can login to access all 4 cleantech stock directories.
http://www.investorideas.com/membership/.
Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
VANCOUVER, BRITISH COLUMBIA - March 10, 2010 - Valcent Products Inc. (OTC.BB:VCTZF) - LAUNCH, a global initiative whose Founding Partners include NASA, USAID, the U.S. State Department and Nike, which identifies and supports innovative work poised to contribute to a sustainable future, has selected Valcent's VertiCrop™ vertical farming technology as one of ten global innovations from a field of 150 pioneering projects. As one of ten featured leaders in sustainability, Valcent will present their advances on large scale hydroponic agriculture at the premiere LAUNCH event at the Water at Kennedy Space Center on March 16th to 18th 2010.
Amidst the backdrop of shuttle launch mission STS-131, a distinguished group of leaders from government, business, science, engineering, communications and sustainability will convene to learn about Valcent's vertical farming innovations in a collaborative forum designed to help accelerate the company's progress. Along with the initiatives' Founding Partners and Resource Partners which include The Pacific Institute, Sandia National Labs and The Water Center of the Earth Institute, LAUNCH was formed as a collaborative forum and incubator to engage and champion innovative ideas, companies, programs and technologies focused on a series of sustainability challenges.
"Our world's balance between demand and supply of food is sensitive to climate change, fuel demands, access to water and our investments in research and infrastructure," said Stephen Kennedy Smith, President of Em-Link LLC, the Boston-based Master Distributor for Valcent in the United States. "We are honored to receive recognition from this esteemed panel of judges who recognize Valcent's VertiCrop™ technology as vital to accelerating innovation for a sustainable future. We look forward to the panelists' valuable input on our initiatives involving vertical agriculture using recycled resources and hydroponics, which is the practice of growing plants without soil and which allows for the production of fruit and vegetables in spaces outside of traditional farms."
"We are honored that our vertical farming technology is recognized as an important innovation by LAUNCH," says Chris Bradford, President, CEO, and Director of Valcent Products Inc. "We have entered a new era of urban agriculture where we can deliver locally grown crops that provide a nutritionally superior product that is healthier for the communities they serve."
Valcent's VertiCrop™ technology will be profiled on the LAUNCH web site and featured in a custom produced video profile in collaboration with Nike.
About Valcent Products Inc.:
Valcent Products Inc. (OTC.BB:VCTZF) specializes in growing solutions and plant based consumer products and is a leader in the development of innovative and practical eco-technologies. For more information, visit: www.valcent.net and www.valcent.eu and contribute at http://blog.valcent.net/.
Contacts:
Investor Relations
Gerry Jardine or Mike Parker
(604) 608-6192
Toll Free 1 888 506-7979
info@valcent.net
Media Relations
Nancy Tamosaitis-Thompson
Vorticom Public Relations
(212) 532-2208
Nancyt@vorticom.com
Safe Harbor for Forward Looking Statements: This press release contains forward-looking information, in that it describes events and conditions, which Valcent Products, Inc. reasonably expects to occur in the future, and statements including opinions, assumptions and estimates. Forwardlooking statements include information that does not relate strictly to historical or current facts. When used in this document, the words "seeks", "anticipate", "believe", estimate", "expect", "forecast", "intent", "may", "project", "plan", "potential", "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to a wide range of known and unknown risks and uncertainties, including inability to complete sales in process or develop positive cash flow from anticipated product sales, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. We have attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. The risks and uncertainties that could affect future events or the Company's future financial performance are more fully described in the Company's quarterly reports (on Form 6-K filed in the US and the financial statements and Form 51-102F1 filed in Canada), the Company's annual reports (on Form 20-F filed in the US and the financial statements and Form 51-102F1 filed in Canada) and the other recent filings in the US and Canada. These filings are available at www.sec.gov in the US and www.sedar.com in Canada. For all such forward-looking statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Valcent disclaims any obligation to update any forward-looking statement made herein.
Request news and stock alerts from Valcent Products Inc. (OTCBB: VCTZF) http://www.investorideas.com/Resources/Newsletter.asp
Disclosure: Valcent Products Inc. is a paid advertising client on Investorideas.com and our mining portals.
________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Investor Ideas members can login to access all 4 cleantech stock directories.
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Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
Tuesday, March 09, 2010
Renewable Energy Stocks News; U.S. Geothermal (TSX:GTH )(AMEX:HTM ) Announces $8.6 Million Private Placement Financing
Renewable Energy Stocks News; U.S. Geothermal (TSX:GTH )(AMEX:HTM ) Announces $8.6 Million Private Placement Financing
BOISE, IDAHO--(Investorideas.com Green/renewable energy newswire) 03/09/10 - (TSX:GTH )(AMEX:HTM ) U.S. Geothermal Inc. (the "Company") announced today that it has entered into a securities purchase agreement with several institutional investors, pursuant to which the Company has agreed to issue 8,209,519 shares of Common Stock at a price of $1.05 per share for gross proceeds of approximately $8.6 million (the "Private Placement"). Pursuant to the terms of the Private Placement, each Investor will also be issued a common share purchase warrant (a "Warrant") exercisable for 50% of the number of shares of Common Stock purchased by the investor. Each Warrant is exercisable at $1.25 per share for a period of five years beginning six months after the closing of the private placement. After deducting for fees and expenses, the net proceeds are anticipated to total approximately $8.0 million. The net proceeds of the offering will be used by the Company to further develop its Neal Hot Springs geothermal project and for general working capital purposes. Initiating a planned capital project for Raft River Unit I and a well drilling program for a planned future expansion at San Emidio may be subject to completion of future financing.
The Private Placement is subject to certain conditions including, but not limited to, the approval of the NYSE Amex and the Toronto Stock Exchange and is anticipated to close on or about March 12, 2010. The Company will be required to file a resale registration statement within 30 days of the closing date and will use its best efforts to cause the registration statement to be declared effective within 120 days of the closing date. The Private Placement pursuant to the securities purchase agreement is being made upon an exemption from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof.
The securities described herein have not been registered under the U.S. Securities Act of l933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons unless an exemption from registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a renewable energy development company that is operating geothermal power projects at Raft River, Idaho and San Emidio, Nevada. U.S. Geothermal Inc. recently announced signing of a power purchase agreement and is in the final stages of negotiations for a project loan as part of its development activities at Neal Hot Springs in eastern Oregon.
The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995, including statements regarding the offering, anticipated use of proceeds and availability of future financing. These statements are based on U.S. Geothermal Inc.'s current expectations and beliefs and are subject to a number of risks and uncertainties that can cause actual results to differ materially from those described. Important factors that could cause actual results to differ materially from U.S. Geothermal's expectations include the uncertainties involving the completion of the offering and the need for additional financing to explore and develop projects and availability of financing in the capital markets . Readers are cautioned to review the risk factors identified by the company in its filings with Canadian and US securities agencies, including U.S. Geothermal's annual report on Form 10-K for the year ended March 31. 2009. Forward-looking statements are based on management's expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management's expectations, beliefs, or opinions, or other factors, should change.
The NYSE Amex and the Toronto Stock Exchange do not accept responsibility for the adequacy of this release.
_______________________________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
The renewable energy stocks directory can be previewed at : http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp.
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Our goal - One Million More Investors Investing in Green Technology and Water Technology in 2010!
BOISE, IDAHO--(Investorideas.com Green/renewable energy newswire) 03/09/10 - (TSX:GTH )(AMEX:HTM ) U.S. Geothermal Inc. (the "Company") announced today that it has entered into a securities purchase agreement with several institutional investors, pursuant to which the Company has agreed to issue 8,209,519 shares of Common Stock at a price of $1.05 per share for gross proceeds of approximately $8.6 million (the "Private Placement"). Pursuant to the terms of the Private Placement, each Investor will also be issued a common share purchase warrant (a "Warrant") exercisable for 50% of the number of shares of Common Stock purchased by the investor. Each Warrant is exercisable at $1.25 per share for a period of five years beginning six months after the closing of the private placement. After deducting for fees and expenses, the net proceeds are anticipated to total approximately $8.0 million. The net proceeds of the offering will be used by the Company to further develop its Neal Hot Springs geothermal project and for general working capital purposes. Initiating a planned capital project for Raft River Unit I and a well drilling program for a planned future expansion at San Emidio may be subject to completion of future financing.
The Private Placement is subject to certain conditions including, but not limited to, the approval of the NYSE Amex and the Toronto Stock Exchange and is anticipated to close on or about March 12, 2010. The Company will be required to file a resale registration statement within 30 days of the closing date and will use its best efforts to cause the registration statement to be declared effective within 120 days of the closing date. The Private Placement pursuant to the securities purchase agreement is being made upon an exemption from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof.
The securities described herein have not been registered under the U.S. Securities Act of l933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons unless an exemption from registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a renewable energy development company that is operating geothermal power projects at Raft River, Idaho and San Emidio, Nevada. U.S. Geothermal Inc. recently announced signing of a power purchase agreement and is in the final stages of negotiations for a project loan as part of its development activities at Neal Hot Springs in eastern Oregon.
The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995, including statements regarding the offering, anticipated use of proceeds and availability of future financing. These statements are based on U.S. Geothermal Inc.'s current expectations and beliefs and are subject to a number of risks and uncertainties that can cause actual results to differ materially from those described. Important factors that could cause actual results to differ materially from U.S. Geothermal's expectations include the uncertainties involving the completion of the offering and the need for additional financing to explore and develop projects and availability of financing in the capital markets . Readers are cautioned to review the risk factors identified by the company in its filings with Canadian and US securities agencies, including U.S. Geothermal's annual report on Form 10-K for the year ended March 31. 2009. Forward-looking statements are based on management's expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management's expectations, beliefs, or opinions, or other factors, should change.
The NYSE Amex and the Toronto Stock Exchange do not accept responsibility for the adequacy of this release.
_______________________________________________________________
The renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM, Hong Kong and China markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
The renewable energy stocks directory can be previewed at : http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp.
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