The biggest Investor News this week was yesterday’s IPO of GT Solar (Nasdaq: SOLR), a maker of manufacturing equipment for the solar power industry.
Expectations were high,
as the offering was expected to be the largest ever by a U.S. solar
company. Shares were priced at $16.50–the middle of the expected
range–generating proceeds of $500 million dollars, which will go
exclusively to shareholders. However the price dropped 11% in the first
day of trading, pushed down by a general market slump to close at
$14.70.
In other solar news, G24 Innovations, a U.K.-based company producing dye-sensitized thin film solar,
raised an additional $30 million. Dye-Sensitized Thin Film solar cells
are unique in that they use no silicon and produce electricity in
low-light conditions, making them ideal for powering mobile electroic
devices.
Solar superstar First Solar, Inc. (Nasdaq: FSLR) opened the first of its four solar module manufacturing plants in Malaysia.
When complete during the second half of 2009, all four plants will have
a combined annual capacity to produce 720 megawatts of solar modules.
Ersol Solar Energy AG (ES6.DE) signed a major contract with solar system integrator IBC Solar AG
for the supply of crystalline silicon solar cells. The 10-year contract
is worth more than EUR half a billion, the companies said.
Atlanta, Georgia-based modular carpet company Interface Inc. (Nasdaq: IFSIA) reported a huge year-over-year profit increase for 2Q08. Net income for the quarter was $15.9 million, or $0.26 per share.
VeraSun Energy Corp. (NYSE: VSE), one of the nation’s largest ethanol producers, announced the startup
of its 110 million gallon per year refinery located near Hankinson,
North Dakota. Less than a month ago the company announced it was delaying the startup
of the Hankinson facility and two others, due to market conditions. The
ethanol maker now has an operating capacity of 1.2billion gallons.
VeraSun CEO Don Endres said the decision to begin production at
Hankinson was based on an improved margin environment and other unique
business considerations.
Eden Energy Ltd (ASX:EDE) announced the formation of Eden Hydrogen Inc.
to focus on the emerging U.S. hydrogen economy. The company is an
integration of two Eden Energy U.S. subsidiaries: Hythane Company of
Denver, Colorado and HyRadix of Des Plaines, Illinois. The new company
will be headquartered in Des Plaines, Illinois, just outside of Chicago
and will focus on hydrogen generation, delivery and storage.
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