Renewable Energy Investment Has Never Been More Critical
“More than anything else, this economic and environmental tragedy –- and it’s a tragedy -– underscores the urgent need for this nation to develop clean, renewable sources of energy”- President Barack Obama
May 31, 2010 (Investorideas.com renewable energy/green newswire) Investor Ideas global investor research portal covering leading sectors, focusing on environment and water, updates investors in the cleantech sector following recent remarks from President Barack Obama regarding the BP Oil Spill.
Remarks by the President on the Gulf Oil Spill May 27, 2010
Excerpt:
“Let me make one final point. More than anything else, this economic and environmental tragedy –- and it’s a tragedy -– underscores the urgent need for this nation to develop clean, renewable sources of energy. Doing so will not only reduce threats to our environment, it will create a new, homegrown, American industry that can lead to countless new businesses and new jobs.
We’ve talked about doing this for decades, and we’ve made significant strides over the last year when it comes to investing in renewable energy and energy efficiency. The House of Representatives has already passed a bill that would finally jumpstart a permanent transition to a clean energy economy, and there is currently a plan in the Senate –- a plan that was developed with ideas from Democrats and Republicans –- that would achieve the same goal.
If nothing else, this disaster should serve as a wake-up call that it’s time to move forward on this legislation. It’s time to accelerate the competition with countries like China, who have already realized the future lies in renewable energy. And it’s time to seize that future ourselves. So I call on Democrats and Republicans in Congress, working with my administration, to answer this challenge once and for all.”
Source : http://www.whitehouse.gov/the-press-office/remarks-president-gulf-oil-spill
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Use our Green Stocks and Renewable Energy Stocks directory to Research Renewable Energy Stocks and Alternative Energy Stocks, Solar Stocks, Wind Stocks, Biofuels, Green Stocks, Green Funds and more. Our Directory includes publicly traded green stocks on the TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM, Hong Kong and China and other leading Stock Exchanges. Our green stocks directory has over 1000 stocks and is growing each month! - Even the industry experts use our directory!
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Sunday, May 30, 2010
Thursday, May 20, 2010
Inch Cape Offshore Wind Farm - Development Update
Inch Cape Offshore Wind Farm - Development Update
20 May 2010
The Crown Estate and SeaEnergy PLC are pleased to confirm developments concerning SeaEnergy Renewables Limited's (SERL) interest in the Inch Cape Offshore Wind Farm (Inch Cape).
In February 2009, The Crown Estate awarded the Inch Cape site to a consortium comprised of SERL, SeaEnergy's 80% owned subsidiary, and RWE npower renewables as a part of the Scottish Territorial Waters leasing round conducted by The Crown Estate in association with the Scottish Government. In connection with the site award, the consortium entered into an Exclusivity Agreement with The Crown Estate providing the exclusive right for the consortium to negotiate an agreement for lease (AFL) for a term of 50 years. The Exclusivity Agreement also provided the right to undertake further studies into the feasibility of the 905MW offshore wind farm, 15.5 kilometres east of the Angus coastline. Entry into the AFL is scheduled to follow the completion of a Strategic Environmental Assessment by the Scottish Government which is expected later this year.
RWE npower renewables has notified SERL and The Crown Estate of its desire to exit the Inch Cape project. This is due to the considerable size of its other onshore and offshore renewable generation commitments.
The Crown Estate views the Inch Cape project as being important to the delivery of the Scottish Territorial Waters leasing round and to the UK in maintaining the delivery of the Offshore Wind Energy Programme.
To demonstrate their joint commitment to the project The Crown Estate and SERL have entered into discussions with the aim of ensuring that the site's development schedule and activities can progress as expeditiously as possible. These discussions are intended to lead to the establishment of a Memorandum of Understanding between The Crown Estate and SERL that will provide terms for the delivery of Inch Cape and may increase SERL's interest in the project.
SERL CEO Joel Staadecker said: "Inch Cape is an important site for Scotland, which expects to benefit from the construction and operation of offshore wind farms off the coast of central Scotland. We are delighted that The Crown Estate shares our commitment to the project and look forward to successful discussions to agree terms for its delivery. We are also very pleased at the prospect of potentially increasing our equity stake in what is a great project."
It is envisaged that a further announcement will be made when the negotiations have concluded.
www.seaenergy-plc.com
NOTES TO EDITORS
SeaEnergy PLC
SeaEnergy PLC is the only listed pure play offshore wind energy company in the UK. SeaEnergy Renewables Limited (SERL) is a subsidiary of the Company and is made up of the team which conceived, developed and delivered the world's first deep water wind farm development - the Beatrice Demonstrator offshore wind farm (10MW) (the "Beatrice Demonstrator Project") which is owned and operated by Talisman Energy. The Beatrice Demonstrator Project involved the installation of the two largest wind turbines (5MW each) ever deployed offshore, at water depths of 45 metres. This, combined with the SERL team's expertise in delivering deep water offshore developments in the oil and gas industry, puts SeaEnergy in an unrivalled position at the vanguard of the emerging offshore renewables industry.
Prior to the UK Round 3 award SeaEnergy had secured a 25% interest in two Scottish offshore farms, Beatrice and Inch Cape. The recent award of UK Round 3 of Zone 1 with partners EDPR takes SeaEnergy's net capacity in the UK to over 780MW, SeaEnergy has also signed a Heads of Terms Agreement to develop offshore wind farms in Taiwan with Taiwan Generations Corporation.
The Crown Estate
On behalf of the nation, The Crown Estate manages a highly diverse £6 billion property portfolio across the UK. Our objectives, which are laid down by Parliament under The Crown Estate Act 1961, include enhancing the value of the estate and the revenue it produces.
Every year we pay all of our surplus revenue to the UK Treasury for the benefit of all UK taxpayers: in 2008/09 this was £226.5 million. £15.5 million of this came from Scotland.
Our core values of commercialism, integrity and stewardship, guide and inform all our business activities.
The Crown Estate is committed to working in partnership with the Scottish Government and members of the Scottish Parliament, local authorities and a wide range of other stakeholders to safeguard the long term interests of the environment and the communities with which we work.
In Scotland, The Crown Estate includes:
- The marine estate consists of over half the foreshore and the seabed out to the 12 nautical mile territorial limit. The Crown Estate has the right to explore and utilise the resources of the UK continental shelf (excluding oil, gas and coal), including the right to license renewable energy in the form of offshore wind, wave and tidal power. We are working with our partners to ensure that Scotland is well placed to take advantage of the benefits that renewables will bring through employment and by reducing carbon emissions.
- The rural estate in Scotland comprises 43,000 hectares and includes the Glenlivet, Fochabers, Applegirth, Stirling and Whitehill estates. It includes 185 agricultural tenancies and 102 residential properties.
- The urban estate includes retail property in Edinburgh.
In 1999 The Crown Estate established its programme of Marine Stewardship to provide funding to support practical projects, relevant research, and other initiatives that improve the status and management of the marine estate.
The Crown Estate in Scotland is managed from its Edinburgh Office at 6 Bells Brae, Edinburgh, EH4 3BJ.
www.thecrownestate.co.uk/scotland
_____________________________________________________________________
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!
20 May 2010
The Crown Estate and SeaEnergy PLC are pleased to confirm developments concerning SeaEnergy Renewables Limited's (SERL) interest in the Inch Cape Offshore Wind Farm (Inch Cape).
In February 2009, The Crown Estate awarded the Inch Cape site to a consortium comprised of SERL, SeaEnergy's 80% owned subsidiary, and RWE npower renewables as a part of the Scottish Territorial Waters leasing round conducted by The Crown Estate in association with the Scottish Government. In connection with the site award, the consortium entered into an Exclusivity Agreement with The Crown Estate providing the exclusive right for the consortium to negotiate an agreement for lease (AFL) for a term of 50 years. The Exclusivity Agreement also provided the right to undertake further studies into the feasibility of the 905MW offshore wind farm, 15.5 kilometres east of the Angus coastline. Entry into the AFL is scheduled to follow the completion of a Strategic Environmental Assessment by the Scottish Government which is expected later this year.
RWE npower renewables has notified SERL and The Crown Estate of its desire to exit the Inch Cape project. This is due to the considerable size of its other onshore and offshore renewable generation commitments.
The Crown Estate views the Inch Cape project as being important to the delivery of the Scottish Territorial Waters leasing round and to the UK in maintaining the delivery of the Offshore Wind Energy Programme.
To demonstrate their joint commitment to the project The Crown Estate and SERL have entered into discussions with the aim of ensuring that the site's development schedule and activities can progress as expeditiously as possible. These discussions are intended to lead to the establishment of a Memorandum of Understanding between The Crown Estate and SERL that will provide terms for the delivery of Inch Cape and may increase SERL's interest in the project.
SERL CEO Joel Staadecker said: "Inch Cape is an important site for Scotland, which expects to benefit from the construction and operation of offshore wind farms off the coast of central Scotland. We are delighted that The Crown Estate shares our commitment to the project and look forward to successful discussions to agree terms for its delivery. We are also very pleased at the prospect of potentially increasing our equity stake in what is a great project."
It is envisaged that a further announcement will be made when the negotiations have concluded.
www.seaenergy-plc.com
NOTES TO EDITORS
SeaEnergy PLC
SeaEnergy PLC is the only listed pure play offshore wind energy company in the UK. SeaEnergy Renewables Limited (SERL) is a subsidiary of the Company and is made up of the team which conceived, developed and delivered the world's first deep water wind farm development - the Beatrice Demonstrator offshore wind farm (10MW) (the "Beatrice Demonstrator Project") which is owned and operated by Talisman Energy. The Beatrice Demonstrator Project involved the installation of the two largest wind turbines (5MW each) ever deployed offshore, at water depths of 45 metres. This, combined with the SERL team's expertise in delivering deep water offshore developments in the oil and gas industry, puts SeaEnergy in an unrivalled position at the vanguard of the emerging offshore renewables industry.
Prior to the UK Round 3 award SeaEnergy had secured a 25% interest in two Scottish offshore farms, Beatrice and Inch Cape. The recent award of UK Round 3 of Zone 1 with partners EDPR takes SeaEnergy's net capacity in the UK to over 780MW, SeaEnergy has also signed a Heads of Terms Agreement to develop offshore wind farms in Taiwan with Taiwan Generations Corporation.
The Crown Estate
On behalf of the nation, The Crown Estate manages a highly diverse £6 billion property portfolio across the UK. Our objectives, which are laid down by Parliament under The Crown Estate Act 1961, include enhancing the value of the estate and the revenue it produces.
Every year we pay all of our surplus revenue to the UK Treasury for the benefit of all UK taxpayers: in 2008/09 this was £226.5 million. £15.5 million of this came from Scotland.
Our core values of commercialism, integrity and stewardship, guide and inform all our business activities.
The Crown Estate is committed to working in partnership with the Scottish Government and members of the Scottish Parliament, local authorities and a wide range of other stakeholders to safeguard the long term interests of the environment and the communities with which we work.
In Scotland, The Crown Estate includes:
- The marine estate consists of over half the foreshore and the seabed out to the 12 nautical mile territorial limit. The Crown Estate has the right to explore and utilise the resources of the UK continental shelf (excluding oil, gas and coal), including the right to license renewable energy in the form of offshore wind, wave and tidal power. We are working with our partners to ensure that Scotland is well placed to take advantage of the benefits that renewables will bring through employment and by reducing carbon emissions.
- The rural estate in Scotland comprises 43,000 hectares and includes the Glenlivet, Fochabers, Applegirth, Stirling and Whitehill estates. It includes 185 agricultural tenancies and 102 residential properties.
- The urban estate includes retail property in Edinburgh.
In 1999 The Crown Estate established its programme of Marine Stewardship to provide funding to support practical projects, relevant research, and other initiatives that improve the status and management of the marine estate.
The Crown Estate in Scotland is managed from its Edinburgh Office at 6 Bells Brae, Edinburgh, EH4 3BJ.
www.thecrownestate.co.uk/scotland
_____________________________________________________________________
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!
Monday, May 10, 2010
Raser Technologies (NYSE: RZ) Announces First Quarter Update and Financial Results
Raser Technologies Announces First Quarter Update and Financial Results
PROVO, Utah-Raser Technologies, Inc. (NYSE: RZ), an energy technology company, today announced financial results for the first quarter 2010, the period ended March 31, 2010.
“We had some significant accomplishments during the first quarter”
.Recent Highlights:
•Announced that it completed installation of the bottom cycle project at its Thermo No. 1 plant in southern Utah ahead of schedule. Raser anticipates utilizing the bottom cycle process within the next few days; the bottom cycle process re-directs a portion of the geothermal water coming out of the top cycle units and runs it through PureCycle units currently sitting idle allowing additional energy to be utilized from the geothermal water and converted to electricity.
•Raser has also replaced 18 out of 50 recirculation pumps on the 50 PureCycle units with more efficient pumps, with full replacement of all pumps expected by the end of May 2010. Utilizing the bottom cycle process and the replacement of the 50 recirculation pumps with more efficient pumps should enhance the overall output at the Thermo No. 1 plant to a range of 7-8.5 MW; $30 million of the grant proceeds the Thermo No. 1 plant received from the U.S. Treasury currently are in an escrow account, which will be used to fund obligations under the amended financing arrangements for the Thermo No. 1 plant. Final test scheduled to be completed by June 30, 2010.
•Engaged a placement agent to monetize the remaining tax benefits from the Thermo No. 1 project with a new tax equity partner, replacing Merrill Lynch who was redeemed out of the project in December of 2009. The tax benefits result primarily from accelerated depreciation Raser is not in a position to fully utilize in the near term. These proceeds would be in addition to the $33 million the project received early this year as part of the U.S. Treasury grant program for the benefit of Raser.
•Released a video update on its relationship with Hyundai Heavy Industries, a global leader in grid-electrical equipment and renewable energy generation equipment. The two companies recently completed meetings to further discussions for greater cooperation in the production of clean, renewable energy and manufacturing of plug-in electric vehicles.
•Selected Barbour Well, Inc., of Henderson, Nevada to begin drilling in May 2010 on the Lightning Dock, New Mexico project; a drilling rig has been mobilized. The Lightning Dock resource, located in southwest New Mexico, is one of the most studied, undeveloped resources in the country. It is a shallow resource, with primary production expected from depths of less than 3,000 feet and at temperatures between 285 and 310 degrees Fahrenheit. Phase 1 is for 15MW’s and Raser has entered into a power purchase agreement with the Salt River Project.
•Raised approximately $1.7 million gross proceeds through a Controlled Equity Offeringsm, or “at-the-market,” program announced on April 8, 2010. Raser later terminated the offering on May 10, 2010.
•Announced that it will hold the 2010 annual meeting of stockholders on June 9, 2010 for stockholders of record as of April 19, 2010. The meeting will be held at 2:30 p.m. at the Provo Marriott Hotel and Conference Center, 101 West 100 North, Provo, Utah.
First Quarter of 2010 Highlights
•Selected as sole-source contractor under $1 million U.S. grant for geothermal study by Indonesia Power; awarded by U.S. Trade and Development Agency; study will assess the technical, economic, and financial feasibility of the geothermal resource, including the potential impact and opportunity the project will have for Raser and other U.S. suppliers in the Indonesian market. The feasibility study began in April 2010 and covers a 100,000 acre concession, jointly owned by Raser and Indonesia Power.
•Raser Chairman Kraig Higginson testified before the United States Senate Appropriations Subcommittee on Energy and Water Development, as part of testimony from industry leaders and the Department of Energy regarding the opportunities and challenges presented in increasing the number of electric vehicles in the light duty automotive sector.
•Named Nicholas (Nick) Goodman Chief Executive Officer. Mr. Goodman has 15 years of extensive experience growing companies through project development and acquisition. He most recently served as Chief Executive Officer of TDX Power, an electric utility holding company and power generation project developer. Under his leadership, TDX Power grew from $3 million to over $60 million in annual recurring revenues.
•John T. Perry was named Chief Financial Officer of Raser, effective March 22, 2010. Mr. Perry has more than 20 years of experience in the mining and metals industry.
•Received $33 million renewable energy grant funded by the U.S. Treasury for Raser’s Thermo No. 1 geothermal power plant. The grant was provided by the U.S. Treasury Department under the Section 1603 renewable energy grant program created by the American Recovery and Reinvestment Act of 2009. Section 1603 grants cover approximately 30% of the total cost of the project and are available for projects started in 2010 and placed in service by 2014, for Raser this potentially includes Lightning Dock & Thermo 2 projects.
•Reached an agreement with project financing partners to extend the final performance and completion test of the Thermo No. 1 project to June 30, 2010. Output of the plant continues to increase as certain modifications are made. Raser recently recompleted four wells to reduce the inflow of water from the coolest formations and increase the average temperature of water entering the plant. Raser has also made changes to the plant generators to improve efficiency as well as other modifications to increase the overall output of the plant.
•Sold $5 million of convertible preferred stock and issued warrants to acquire an additional $14 million in preferred stock to Fletcher International, Ltd., an affiliate of Fletcher Asset Management, Inc., in a transaction that closed on February 3, 2010. The financing is part of a broader strategic relationship between Raser and Fletcher.
“We had some significant accomplishments during the first quarter,” said Nick Goodman, Raser CEO. “Once the final performance test of Thermo No. 1 is complete, we expect the project to be cash flow positive. That is a good position to be in as we move on to our next geothermal project in New Mexico.”
Financial Results
During the three months ended March 31, 2010, Raser reported revenue of approximately $1.0 million compared to $0 in the three months ended March 31, 2009. During the second quarter of 2009, Raser began selling electricity generated from its Thermo No. 1 plant to the City of Anaheim, California. During the first quarter of 2010, Raser generated approximately 11,543 MW hours of electricity, which was sold at a price of $79.56 per MW.
Cost of sales for the first quarter of 2010 were $2.0 million compared to $0 in the three months ended March 31, 2009. Gross margin was approximately $(1.0) million for the first quarter compared to gross margin of $0 during the same period in 2009.
Total operating expenses decreased to $4.0 million for the first quarter of 2010 compared to $5.3 million for the first quarter of 2009. Included in the operating expenses were:
•General and administrative expenses were approximately $2.5 million during the first quarter of 2010 as compared to approximately $2.5 million for the first quarter of 2009. Equity-based non-cash employee and service provider compensation expense was approximately $0.4 million in the first quarter of 2010 compared to $0.6 million during the same period in 2009. Other employment related costs during the first quarter of 2010 increased by $0.2 million over first quarter of 2009 primarily reflecting executive search fees that were not incurred during the prior year.
•Power project development expenses during the first quarter of 2010 totaled $1.3 million as compared to $2.1 million for the first quarter of 2009. During the first quarter of 2010, professional services decreased by approximately $0.4 million and employment related costs also decreased approximately $0.4 million due primarily to a difference in the classification of employment and direct consulting costs from power project development costs to cost of revenues beginning in the second quarter of 2009. The change in classification resulted from the Thermo No. 1 plant beginning operations in the second quarter of 2009. Equity based non-cash employee compensation associated with power project development employees and other operating costs for the three months ended March 31, 2010 remained relatively flat as compared to the first quarter of 2009.
•Research and Development expense decreased from $658,000 in the three months ended March 31, 2009 to $257,000 for the three months ended March 31, 2010. Equity based non-cash employee compensation associated with research and development employees decreased by $0.2 million during the three months ended March 31, 2010 compared to the same period in 2009. This was due primarily to decreased headcount as a result of our decision to reduce the cash requirements associated with the research and development activities at our design center. Because we reduced employment levels at the design center, cash based employee compensation associated with research and development employees decreased $0.3 million during the three months ended March 31, 2010 from the first quarter of 2009. This decrease was partially offset by increased professional services of approximately $0.1 million during the three months ended March 31, 2010 compared to the same period in 2009 due primarily to additional consulting work relating to enhancements of our PHEV Hummer demonstration vehicle. The portion of engineering expenses relating to testing of materials remained relatively flat during the three months ended March 31, 2010 over the comparable 2009 period.
•Non-controlling interest decreased by $1.0 million during the three months ended March 31, 2010 compared to the three months ended March 31, 2009. The decrease resulted from the withdrawal of Merrill Lynch as Class A Member from the Thermo Subsidiary and the redemption of its interest in the Thermo Subsidiary in connection with amendments to the Thermo No. 1 financing arrangements in December 2009. As a result, we own 100% of the Thermo Subsidiary thereby eliminating the non-controlling interest.
•During the first quarter of 2010, we sold 5,000 shares of our Series A-1 Cumulative Convertible Preferred Stock (the “Preferred Stock”) and paid a dividend to the holder of the Preferred Stock in shares of our common stock on March 31, 2010 totaling $0.1 million. We also recorded a deemed dividend relating to the accretion of the discount of the Preferred Stock totaling $1.1 million. No Preferred Stock dividends or deemed dividends were recorded for the three months ended March 31, 2009.
•In aggregate, non-cash, equity-based expenses and equity-based compensation totaled $0.6 million during the first quarter of 2010, a decrease of $0.6 million from $1.2 million in the first quarter of 2009.
Raser’s net loss applicable to common stockholders for the three months ended March 31, 2010 was $8.8 million, or $(0.11) per basic and diluted share (based on 79.6 million weighted-average shares outstanding) compared to a net loss of $6.7 million, or $(0.10) per basic and diluted share (based on 64.3 million weighted-average shares outstanding) for the three months ended March 31, 2009.
Conference Call with Investors
Management will host a conference call at 5 p.m. Eastern Time on Monday, May 10, 2010 to discuss Raser’s results with the investment community. Anyone interested in participating should call 877-407-0784, if calling within the United States, or 201-689-8560, if calling internationally. A replay will be available until May 17, 2010, which can be accessed by dialing 877-660-6853 if calling within the United States or 201-612-7415 if calling internationally. Please enter account #3055 and conference ID #350372 to access the replay. The call will also be accompanied by a live webcast over the Internet and will be accessible at http://www.talkpoint.com/viewer/starthere.asp?Pres=130899.
About Raser Technologies
Raser (NYSE: RZ) is an environmental energy technology company focused on geothermal power development and technology licensing. Raser’s Power Systems segment develops clean, renewable geothermal electric power plants with one operating plant in southern Utah and eight active and early stage projects in four western states: Utah, New Mexico, Nevada and Oregon, as well as a concession for 100,000 acres in Indonesia. Raser’s Transportation and Industrial segment focuses on extended-range plug-in-hybrid vehicle solutions using Raser’s award-winning Symetron™ technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications. Further information on Raser may be found at: www.rasertech.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, our beliefs about preliminary drilling results; our beliefs about the potential for power generation on our leased properties; our beliefs about our ability to exploit the available geothermal resources; our beliefs about the expected timing relating to the completion of our geothermal power projects; our beliefs about our ability to obtain adequate development funding; our beliefs about our ability to utilize available technologies to produce electric power from the available resources; our beliefs about the geothermal market in general; our beliefs about the performance and market applicability of our products; our beliefs about the strength and enforceability of our agreements, our beliefs about the performance capabilities of our technology; our beliefs about the capabilities, expertise and intentions of our partners; our ability to hire, train and retain key personnel. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the competitive environment and our ability to compete in the industry; our ability to adapt our technology for geothermal applications; our ability to secure necessary permits; the strength of our intellectual property; and such other risks as identified in our quarterly report on Form 10-Q for the quarter ended March 31, 2010, as filed with the Securities and Exchange Commission, and all subsequent filings.
All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press 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.
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!
PROVO, Utah-Raser Technologies, Inc. (NYSE: RZ), an energy technology company, today announced financial results for the first quarter 2010, the period ended March 31, 2010.
“We had some significant accomplishments during the first quarter”
.Recent Highlights:
•Announced that it completed installation of the bottom cycle project at its Thermo No. 1 plant in southern Utah ahead of schedule. Raser anticipates utilizing the bottom cycle process within the next few days; the bottom cycle process re-directs a portion of the geothermal water coming out of the top cycle units and runs it through PureCycle units currently sitting idle allowing additional energy to be utilized from the geothermal water and converted to electricity.
•Raser has also replaced 18 out of 50 recirculation pumps on the 50 PureCycle units with more efficient pumps, with full replacement of all pumps expected by the end of May 2010. Utilizing the bottom cycle process and the replacement of the 50 recirculation pumps with more efficient pumps should enhance the overall output at the Thermo No. 1 plant to a range of 7-8.5 MW; $30 million of the grant proceeds the Thermo No. 1 plant received from the U.S. Treasury currently are in an escrow account, which will be used to fund obligations under the amended financing arrangements for the Thermo No. 1 plant. Final test scheduled to be completed by June 30, 2010.
•Engaged a placement agent to monetize the remaining tax benefits from the Thermo No. 1 project with a new tax equity partner, replacing Merrill Lynch who was redeemed out of the project in December of 2009. The tax benefits result primarily from accelerated depreciation Raser is not in a position to fully utilize in the near term. These proceeds would be in addition to the $33 million the project received early this year as part of the U.S. Treasury grant program for the benefit of Raser.
•Released a video update on its relationship with Hyundai Heavy Industries, a global leader in grid-electrical equipment and renewable energy generation equipment. The two companies recently completed meetings to further discussions for greater cooperation in the production of clean, renewable energy and manufacturing of plug-in electric vehicles.
•Selected Barbour Well, Inc., of Henderson, Nevada to begin drilling in May 2010 on the Lightning Dock, New Mexico project; a drilling rig has been mobilized. The Lightning Dock resource, located in southwest New Mexico, is one of the most studied, undeveloped resources in the country. It is a shallow resource, with primary production expected from depths of less than 3,000 feet and at temperatures between 285 and 310 degrees Fahrenheit. Phase 1 is for 15MW’s and Raser has entered into a power purchase agreement with the Salt River Project.
•Raised approximately $1.7 million gross proceeds through a Controlled Equity Offeringsm, or “at-the-market,” program announced on April 8, 2010. Raser later terminated the offering on May 10, 2010.
•Announced that it will hold the 2010 annual meeting of stockholders on June 9, 2010 for stockholders of record as of April 19, 2010. The meeting will be held at 2:30 p.m. at the Provo Marriott Hotel and Conference Center, 101 West 100 North, Provo, Utah.
First Quarter of 2010 Highlights
•Selected as sole-source contractor under $1 million U.S. grant for geothermal study by Indonesia Power; awarded by U.S. Trade and Development Agency; study will assess the technical, economic, and financial feasibility of the geothermal resource, including the potential impact and opportunity the project will have for Raser and other U.S. suppliers in the Indonesian market. The feasibility study began in April 2010 and covers a 100,000 acre concession, jointly owned by Raser and Indonesia Power.
•Raser Chairman Kraig Higginson testified before the United States Senate Appropriations Subcommittee on Energy and Water Development, as part of testimony from industry leaders and the Department of Energy regarding the opportunities and challenges presented in increasing the number of electric vehicles in the light duty automotive sector.
•Named Nicholas (Nick) Goodman Chief Executive Officer. Mr. Goodman has 15 years of extensive experience growing companies through project development and acquisition. He most recently served as Chief Executive Officer of TDX Power, an electric utility holding company and power generation project developer. Under his leadership, TDX Power grew from $3 million to over $60 million in annual recurring revenues.
•John T. Perry was named Chief Financial Officer of Raser, effective March 22, 2010. Mr. Perry has more than 20 years of experience in the mining and metals industry.
•Received $33 million renewable energy grant funded by the U.S. Treasury for Raser’s Thermo No. 1 geothermal power plant. The grant was provided by the U.S. Treasury Department under the Section 1603 renewable energy grant program created by the American Recovery and Reinvestment Act of 2009. Section 1603 grants cover approximately 30% of the total cost of the project and are available for projects started in 2010 and placed in service by 2014, for Raser this potentially includes Lightning Dock & Thermo 2 projects.
•Reached an agreement with project financing partners to extend the final performance and completion test of the Thermo No. 1 project to June 30, 2010. Output of the plant continues to increase as certain modifications are made. Raser recently recompleted four wells to reduce the inflow of water from the coolest formations and increase the average temperature of water entering the plant. Raser has also made changes to the plant generators to improve efficiency as well as other modifications to increase the overall output of the plant.
•Sold $5 million of convertible preferred stock and issued warrants to acquire an additional $14 million in preferred stock to Fletcher International, Ltd., an affiliate of Fletcher Asset Management, Inc., in a transaction that closed on February 3, 2010. The financing is part of a broader strategic relationship between Raser and Fletcher.
“We had some significant accomplishments during the first quarter,” said Nick Goodman, Raser CEO. “Once the final performance test of Thermo No. 1 is complete, we expect the project to be cash flow positive. That is a good position to be in as we move on to our next geothermal project in New Mexico.”
Financial Results
During the three months ended March 31, 2010, Raser reported revenue of approximately $1.0 million compared to $0 in the three months ended March 31, 2009. During the second quarter of 2009, Raser began selling electricity generated from its Thermo No. 1 plant to the City of Anaheim, California. During the first quarter of 2010, Raser generated approximately 11,543 MW hours of electricity, which was sold at a price of $79.56 per MW.
Cost of sales for the first quarter of 2010 were $2.0 million compared to $0 in the three months ended March 31, 2009. Gross margin was approximately $(1.0) million for the first quarter compared to gross margin of $0 during the same period in 2009.
Total operating expenses decreased to $4.0 million for the first quarter of 2010 compared to $5.3 million for the first quarter of 2009. Included in the operating expenses were:
•General and administrative expenses were approximately $2.5 million during the first quarter of 2010 as compared to approximately $2.5 million for the first quarter of 2009. Equity-based non-cash employee and service provider compensation expense was approximately $0.4 million in the first quarter of 2010 compared to $0.6 million during the same period in 2009. Other employment related costs during the first quarter of 2010 increased by $0.2 million over first quarter of 2009 primarily reflecting executive search fees that were not incurred during the prior year.
•Power project development expenses during the first quarter of 2010 totaled $1.3 million as compared to $2.1 million for the first quarter of 2009. During the first quarter of 2010, professional services decreased by approximately $0.4 million and employment related costs also decreased approximately $0.4 million due primarily to a difference in the classification of employment and direct consulting costs from power project development costs to cost of revenues beginning in the second quarter of 2009. The change in classification resulted from the Thermo No. 1 plant beginning operations in the second quarter of 2009. Equity based non-cash employee compensation associated with power project development employees and other operating costs for the three months ended March 31, 2010 remained relatively flat as compared to the first quarter of 2009.
•Research and Development expense decreased from $658,000 in the three months ended March 31, 2009 to $257,000 for the three months ended March 31, 2010. Equity based non-cash employee compensation associated with research and development employees decreased by $0.2 million during the three months ended March 31, 2010 compared to the same period in 2009. This was due primarily to decreased headcount as a result of our decision to reduce the cash requirements associated with the research and development activities at our design center. Because we reduced employment levels at the design center, cash based employee compensation associated with research and development employees decreased $0.3 million during the three months ended March 31, 2010 from the first quarter of 2009. This decrease was partially offset by increased professional services of approximately $0.1 million during the three months ended March 31, 2010 compared to the same period in 2009 due primarily to additional consulting work relating to enhancements of our PHEV Hummer demonstration vehicle. The portion of engineering expenses relating to testing of materials remained relatively flat during the three months ended March 31, 2010 over the comparable 2009 period.
•Non-controlling interest decreased by $1.0 million during the three months ended March 31, 2010 compared to the three months ended March 31, 2009. The decrease resulted from the withdrawal of Merrill Lynch as Class A Member from the Thermo Subsidiary and the redemption of its interest in the Thermo Subsidiary in connection with amendments to the Thermo No. 1 financing arrangements in December 2009. As a result, we own 100% of the Thermo Subsidiary thereby eliminating the non-controlling interest.
•During the first quarter of 2010, we sold 5,000 shares of our Series A-1 Cumulative Convertible Preferred Stock (the “Preferred Stock”) and paid a dividend to the holder of the Preferred Stock in shares of our common stock on March 31, 2010 totaling $0.1 million. We also recorded a deemed dividend relating to the accretion of the discount of the Preferred Stock totaling $1.1 million. No Preferred Stock dividends or deemed dividends were recorded for the three months ended March 31, 2009.
•In aggregate, non-cash, equity-based expenses and equity-based compensation totaled $0.6 million during the first quarter of 2010, a decrease of $0.6 million from $1.2 million in the first quarter of 2009.
Raser’s net loss applicable to common stockholders for the three months ended March 31, 2010 was $8.8 million, or $(0.11) per basic and diluted share (based on 79.6 million weighted-average shares outstanding) compared to a net loss of $6.7 million, or $(0.10) per basic and diluted share (based on 64.3 million weighted-average shares outstanding) for the three months ended March 31, 2009.
Conference Call with Investors
Management will host a conference call at 5 p.m. Eastern Time on Monday, May 10, 2010 to discuss Raser’s results with the investment community. Anyone interested in participating should call 877-407-0784, if calling within the United States, or 201-689-8560, if calling internationally. A replay will be available until May 17, 2010, which can be accessed by dialing 877-660-6853 if calling within the United States or 201-612-7415 if calling internationally. Please enter account #3055 and conference ID #350372 to access the replay. The call will also be accompanied by a live webcast over the Internet and will be accessible at http://www.talkpoint.com/viewer/starthere.asp?Pres=130899.
About Raser Technologies
Raser (NYSE: RZ) is an environmental energy technology company focused on geothermal power development and technology licensing. Raser’s Power Systems segment develops clean, renewable geothermal electric power plants with one operating plant in southern Utah and eight active and early stage projects in four western states: Utah, New Mexico, Nevada and Oregon, as well as a concession for 100,000 acres in Indonesia. Raser’s Transportation and Industrial segment focuses on extended-range plug-in-hybrid vehicle solutions using Raser’s award-winning Symetron™ technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications. Further information on Raser may be found at: www.rasertech.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, our beliefs about preliminary drilling results; our beliefs about the potential for power generation on our leased properties; our beliefs about our ability to exploit the available geothermal resources; our beliefs about the expected timing relating to the completion of our geothermal power projects; our beliefs about our ability to obtain adequate development funding; our beliefs about our ability to utilize available technologies to produce electric power from the available resources; our beliefs about the geothermal market in general; our beliefs about the performance and market applicability of our products; our beliefs about the strength and enforceability of our agreements, our beliefs about the performance capabilities of our technology; our beliefs about the capabilities, expertise and intentions of our partners; our ability to hire, train and retain key personnel. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the competitive environment and our ability to compete in the industry; our ability to adapt our technology for geothermal applications; our ability to secure necessary permits; the strength of our intellectual property; and such other risks as identified in our quarterly report on Form 10-Q for the quarter ended March 31, 2010, as filed with the Securities and Exchange Commission, and all subsequent filings.
All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press 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!
Publicly Traded Electric Vehicle and Natural Gas Companies Working on a Cleaner Port of Los Angeles
Publicly Traded Electric Vehicle and Natural Gas Companies Working on a Cleaner Port of Los Angeles
BYD Auto (BYD Company: HKG: 1211), Balqon Corporation (OTCBB: BLQN),
Westport Innovations Inc. (TSX: WPT/ NASDAQ:WPRT) Showcase Green Auto Technology
Point Roberts WA/ Los Angeles CA- May 10, 2010 - www.InvestorIdeas.com reports on publicly traded electric Vehicle ( EV) and natural gas companies that are participating in the greening of the Port of Los Angeles. Players including BYD Auto (BYD Company: HKG: 1211), Balqon Corporation (OTCBB: BLQN), Westport Innovations Inc. (TSX:WPT; NASDAQ:WPRT) and Vision Industries Corp. (OTCBB: VIIC) all have a stake in the future of the Port, but for the companies involved, it represents just a fraction of their vision for a global green automotive market.
On May 4th the Port of Los Angeles announced plans to become the world’s first port to offer a reduced tariff for zero-emission vehicles imported into the United States through the Port. The reduced-fee incentive proposal was announced Friday, April 30, as Chinese manufacturer BYD Auto Company Limited (BYD) said it will locate its North American headquarters in Los Angeles and use the Port of Los Angeles to import its vehicles.
BYD Auto is a Chinese automobile manufacturer based in Shenzhen, Guangdong Province, China, established in 2003 and is a wholly owned subsidiary of BYD Company, listed on the Hong Kong Exchange (BYD Company: HKG:1211).
Another publicly traded EV company at the Port is Balqon Corporation (OTCBB: BLQN), a company that produces heavy duty electric trucks, tractors and electric drive systems.
As of November, Balqon Corporation (OTCBB: BLQN) had delivered 12 Nautilus E20s to the City of Los Angeles and one Nautilus E20 to the AQMD. All of the Nautilus E20s were delivered during the third quarter of 2009 were equipped with lithium-ion battery packs.
The company anticipates that future sales of the heavy-duty electric vehicles will be made directly to end users, such as large terminal operators, shipping companies and OEMs, rather than directly to governmental agencies such as the AQMD and the City of Los Angeles.
Westport Innovations Inc. (TSX:WPT; NASDAQ:WPRT), a provider of natural gas engines, in its April 2010 investor presentation, updates LNG clean truck program deals with the Port of Los Angeles and the Port of Long Beach. “Despite economic turmoil, over 500 LNG trucks have been deployed to date, the infrastructure is in place and the feedback from the fleets is excellent. “
http://www.westport.com/pdf/2010-04-12_Westport_Securities_Presentation.pdf
According to the Port of Los Angeles, since its commencement on October 1, 2008, the Clean Truck Program (CTP) has delivered an estimated more than 70-percent reduction in the rate of truck emissions compared to 2007 average air emissions data.
On April 5th the Port of Los Angeles announced it awarded Vision Industries Corp. (OTCBB: VIIC), producers of the zero emission electric/hydrogen hybrid Tyrano™ truck, a purchase order for a zero emission Class 8 hybrid electric truck. The cost to purchase the zero emission truck will not exceed $280,000 including sales tax.
Electric vehicle companies and green auto companies that can demonstrate successful deployment are fighting for global market share. Investors are encouraged to perform due diligence in researching and investing in the sector.
Research renewable energy stocks and green automotive stocks with the global green stock directory:
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Showcase Renewable Energy Stock- Balqon Corporation (OTCBB:BLQN) http://www.balqon.com/
Balqon Corporation is a leading developer of heavy duty electric trucks, tractors and electric drive systems. The Company uses its proprietary flux vector motor technology to design propulsion systems for 10 to 50 ton capacity vehicles and material handling equipment. Balqon Corporation’s current product line of tow tractors are designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities.
Recent Media Coverage:
New Trucks Aim To Keep the Docks Humming In Los Angeles
04/06/2010
The Port of Los Angeles and Balqon Corp were showing off their first production XE20 electric, zero-emission yard tractors on Wednesday at an all-day Ride and Drive event at Berth 87. Balqon is getting ready to deliver 20 of the new heavy-duty trucks to a container terminal for a real-world debut.
The port ordered the lithium-ion battery-powered vehicles to be built almost a year ago, along with five XE30 trucks designed for short-haul, on-road drayage. The XE30s will be used to shuttle containers from the port to a near-dock rail yard about five miles north of the harbor.
Full article: http://www.cunninghamreport.com/news_item.php?id=1235
Investors can view the full company profile for Balqon Corporation at:
http://www.investorideas.com/CO/BLQN/
Request news and stock alerts from Balqon Corporation
http://www.investorideas.com/Resources/Newsletter.asp
Balqon Corporation (OTCBB: BLQN) is a featured showcase green stock on our green investor portals:
www.RenewableEnergyStocks.com, www.FuelCellCarNews.com
and www.EnvironmentStocks.com
"Antonio Villaraigosa, Mayor of Los Angeles, tests drives the Balqon Nautilus E30."
About the Port of Los Angeles
The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates 919,000 regional jobs and $39.1 billion in annual wages and tax revenues. A proprietary department of the City of Los Angeles, the Port is self-supporting and does not receive taxpayer dollars. The Port of Los Angeles – A cleaner port. A brighter future. For more information, please visit www.portoflosangeles.org.
About InvestorIdeas.com:
Investor Ideas is a global investor research portal specialized in sector investing. Investor Ideas was one of the first online investing and business resources providing in-depth research, news, investor tools and stock directories for renewable energy, homeland security and water.
About Our Green and Cleantech Investor Portals:
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.
Disclaimer: / disclosure: The following company profile news for BLQN is a paid for submission. BLQN is a paid advertising showcase company. 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, company profile submissions and online advertising. Read more disclaimer and disclosure/ compensation disclosure at:
http://www.investorideas.com/About/Disclaimer.asp
http://www.investorideas.com/About/News/Clientspecifics.asp
Disclosure: Investorideas.com president, D Van Zant is long Westport Innovations .
For Additional Information:
Contact Balqon - http://www.balqon.com/
For investorideas.com contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
Source – Investorideas.com
Follow Investorideas.com On Twitter.com
http://twitter.com/Investorideas
___________________________________________________
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!
BYD Auto (BYD Company: HKG: 1211), Balqon Corporation (OTCBB: BLQN),
Westport Innovations Inc. (TSX: WPT/ NASDAQ:WPRT) Showcase Green Auto Technology
Point Roberts WA/ Los Angeles CA- May 10, 2010 - www.InvestorIdeas.com reports on publicly traded electric Vehicle ( EV) and natural gas companies that are participating in the greening of the Port of Los Angeles. Players including BYD Auto (BYD Company: HKG: 1211), Balqon Corporation (OTCBB: BLQN), Westport Innovations Inc. (TSX:WPT; NASDAQ:WPRT) and Vision Industries Corp. (OTCBB: VIIC) all have a stake in the future of the Port, but for the companies involved, it represents just a fraction of their vision for a global green automotive market.
On May 4th the Port of Los Angeles announced plans to become the world’s first port to offer a reduced tariff for zero-emission vehicles imported into the United States through the Port. The reduced-fee incentive proposal was announced Friday, April 30, as Chinese manufacturer BYD Auto Company Limited (BYD) said it will locate its North American headquarters in Los Angeles and use the Port of Los Angeles to import its vehicles.
BYD Auto is a Chinese automobile manufacturer based in Shenzhen, Guangdong Province, China, established in 2003 and is a wholly owned subsidiary of BYD Company, listed on the Hong Kong Exchange (BYD Company: HKG:1211).
Another publicly traded EV company at the Port is Balqon Corporation (OTCBB: BLQN), a company that produces heavy duty electric trucks, tractors and electric drive systems.
As of November, Balqon Corporation (OTCBB: BLQN) had delivered 12 Nautilus E20s to the City of Los Angeles and one Nautilus E20 to the AQMD. All of the Nautilus E20s were delivered during the third quarter of 2009 were equipped with lithium-ion battery packs.
The company anticipates that future sales of the heavy-duty electric vehicles will be made directly to end users, such as large terminal operators, shipping companies and OEMs, rather than directly to governmental agencies such as the AQMD and the City of Los Angeles.
Westport Innovations Inc. (TSX:WPT; NASDAQ:WPRT), a provider of natural gas engines, in its April 2010 investor presentation, updates LNG clean truck program deals with the Port of Los Angeles and the Port of Long Beach. “Despite economic turmoil, over 500 LNG trucks have been deployed to date, the infrastructure is in place and the feedback from the fleets is excellent. “
http://www.westport.com/pdf/2010-04-12_Westport_Securities_Presentation.pdf
According to the Port of Los Angeles, since its commencement on October 1, 2008, the Clean Truck Program (CTP) has delivered an estimated more than 70-percent reduction in the rate of truck emissions compared to 2007 average air emissions data.
On April 5th the Port of Los Angeles announced it awarded Vision Industries Corp. (OTCBB: VIIC), producers of the zero emission electric/hydrogen hybrid Tyrano™ truck, a purchase order for a zero emission Class 8 hybrid electric truck. The cost to purchase the zero emission truck will not exceed $280,000 including sales tax.
Electric vehicle companies and green auto companies that can demonstrate successful deployment are fighting for global market share. Investors are encouraged to perform due diligence in researching and investing in the sector.
Research renewable energy stocks and green automotive stocks with the global green stock directory:
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Showcase Renewable Energy Stock- Balqon Corporation (OTCBB:BLQN) http://www.balqon.com/
Balqon Corporation is a leading developer of heavy duty electric trucks, tractors and electric drive systems. The Company uses its proprietary flux vector motor technology to design propulsion systems for 10 to 50 ton capacity vehicles and material handling equipment. Balqon Corporation’s current product line of tow tractors are designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities.
Recent Media Coverage:
New Trucks Aim To Keep the Docks Humming In Los Angeles
04/06/2010
The Port of Los Angeles and Balqon Corp were showing off their first production XE20 electric, zero-emission yard tractors on Wednesday at an all-day Ride and Drive event at Berth 87. Balqon is getting ready to deliver 20 of the new heavy-duty trucks to a container terminal for a real-world debut.
The port ordered the lithium-ion battery-powered vehicles to be built almost a year ago, along with five XE30 trucks designed for short-haul, on-road drayage. The XE30s will be used to shuttle containers from the port to a near-dock rail yard about five miles north of the harbor.
Full article: http://www.cunninghamreport.com/news_item.php?id=1235
Investors can view the full company profile for Balqon Corporation at:
http://www.investorideas.com/CO/BLQN/
Request news and stock alerts from Balqon Corporation
http://www.investorideas.com/Resources/Newsletter.asp
Balqon Corporation (OTCBB: BLQN) is a featured showcase green stock on our green investor portals:
www.RenewableEnergyStocks.com, www.FuelCellCarNews.com
and www.EnvironmentStocks.com
"Antonio Villaraigosa, Mayor of Los Angeles, tests drives the Balqon Nautilus E30."
About the Port of Los Angeles
The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates 919,000 regional jobs and $39.1 billion in annual wages and tax revenues. A proprietary department of the City of Los Angeles, the Port is self-supporting and does not receive taxpayer dollars. The Port of Los Angeles – A cleaner port. A brighter future. For more information, please visit www.portoflosangeles.org.
About InvestorIdeas.com:
Investor Ideas is a global investor research portal specialized in sector investing. Investor Ideas was one of the first online investing and business resources providing in-depth research, news, investor tools and stock directories for renewable energy, homeland security and water.
About Our Green and Cleantech Investor Portals:
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.
Disclaimer: / disclosure: The following company profile news for BLQN is a paid for submission. BLQN is a paid advertising showcase company. 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, company profile submissions and online advertising. Read more disclaimer and disclosure/ compensation disclosure at:
http://www.investorideas.com/About/Disclaimer.asp
http://www.investorideas.com/About/News/Clientspecifics.asp
Disclosure: Investorideas.com president, D Van Zant is long Westport Innovations .
For Additional Information:
Contact Balqon - http://www.balqon.com/
For investorideas.com contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
Source – Investorideas.com
Follow Investorideas.com On Twitter.com
http://twitter.com/Investorideas
___________________________________________________
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!
Monday, May 03, 2010
Envision Solar Goes Public, Unveils Ticker Symbol
Envision Solar Goes Public, Unveils Ticker Symbol
Shares in leading solar developer publicly traded as of May 3, 2010
SAN DIEGO (May 3, 2010) – ( Investorideas.com renewable energy/green newswire) Envision Solar International, Inc., (www.envisionsolar.com) (OTCBB:EVSI), a leading solar planner, architect and inventor designing and deploying clean energy systems globally, joins the Over the Counter (OTC) Bulletin Board, effective today. The company’s stock will be traded under the symbol EVSI.
Envision Solar works with such notable companies as Chevron Energy, Sun Edison, Dell, Centocor, University of California and others, and is the first company to invent and build structures for solar that address the unused millions of acres of parking spaces. The company has designed and/or installed more than nine megawatts of solar arrays for commercial, residential, and public entities worldwide.
“We’re happy to announce that Envision Solar is now a publicly traded company. This event provides the public markets a tangible way to participate in our company’s growth,” said Robert Noble, CEO of Envision Solar. “We are committed to sustainable growth for our company and believe this is a step in the right direction to bring our vision of ‘solar you can see’ to a wider market.”
For more information on Envision Solar, visit www.envisionsolar.com or call 1-866-746-0514. For investor inquiries, contact investor@envisionsolar.com or call 1-866-635-0011.
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About Envision Solar International, Inc.
Envision Solar, www.envisionsolar.com, is a leading solar planner, architect and inventor designing and deploying clean energy systems globally. The solar master planning firm provides strategic long-term solutions conducting comprehensive sustainability planning and optimizing locations for solar array structures. It is the first to invent and build structures for solar that address the unused millions of acres of parking spaces. Its innovative systems include commercial, residential, and public entities with products such as the Solar Tree®, Solar Row™, LifePort™, LifePod™, LifeVillage™ and others. Envision Solar is listed on the OTC Bulletin Board under the symbol [OTCBB:EVSI]. For more information on the company, contact 1-866-746-0514.
Safe Harbor Statement
This news release contains forward-looking statements that involve risks and uncertainties. Actual results and outcomes may differ materially from those discussed or anticipated. For a more detailed discussion of these and associated risks, see the company's most recent document filed with the Securities and Exchange Commission.
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Shares in leading solar developer publicly traded as of May 3, 2010
SAN DIEGO (May 3, 2010) – ( Investorideas.com renewable energy/green newswire) Envision Solar International, Inc., (www.envisionsolar.com) (OTCBB:EVSI), a leading solar planner, architect and inventor designing and deploying clean energy systems globally, joins the Over the Counter (OTC) Bulletin Board, effective today. The company’s stock will be traded under the symbol EVSI.
Envision Solar works with such notable companies as Chevron Energy, Sun Edison, Dell, Centocor, University of California and others, and is the first company to invent and build structures for solar that address the unused millions of acres of parking spaces. The company has designed and/or installed more than nine megawatts of solar arrays for commercial, residential, and public entities worldwide.
“We’re happy to announce that Envision Solar is now a publicly traded company. This event provides the public markets a tangible way to participate in our company’s growth,” said Robert Noble, CEO of Envision Solar. “We are committed to sustainable growth for our company and believe this is a step in the right direction to bring our vision of ‘solar you can see’ to a wider market.”
For more information on Envision Solar, visit www.envisionsolar.com or call 1-866-746-0514. For investor inquiries, contact investor@envisionsolar.com or call 1-866-635-0011.
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About Envision Solar International, Inc.
Envision Solar, www.envisionsolar.com, is a leading solar planner, architect and inventor designing and deploying clean energy systems globally. The solar master planning firm provides strategic long-term solutions conducting comprehensive sustainability planning and optimizing locations for solar array structures. It is the first to invent and build structures for solar that address the unused millions of acres of parking spaces. Its innovative systems include commercial, residential, and public entities with products such as the Solar Tree®, Solar Row™, LifePort™, LifePod™, LifeVillage™ and others. Envision Solar is listed on the OTC Bulletin Board under the symbol [OTCBB:EVSI]. For more information on the company, contact 1-866-746-0514.
Safe Harbor Statement
This news release contains forward-looking statements that involve risks and uncertainties. Actual results and outcomes may differ materially from those discussed or anticipated. For a more detailed discussion of these and associated risks, see the company's most recent document filed with the Securities and Exchange Commission.
___________________________________________
Research Renewable Energy Stocks at Investorideas.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.The renewable energy stocks directory can be previewed at : 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! join us and become a member today
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