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Earless Corn?

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Millennium Cell, Horizon Fuel Cell Sign Letter of Intent

New Jersey- based Millennium Cell Inc. (NASDAQ: MCEL) and Singapore- based Horizon Fuel Cell Technologies Ltd. have agreed to jointly develop and sell hydrogen fuel cell products on a global basis. They also agreed to exchange equity in their companies valued at $5 million. Under the LOI, each company will receive preferred product pricing, as well as the ability to resell certain products developed by the two companies on a global basis. Millennium Cell issued Horizon approximately 12% of its outstanding shares in exchange for a non-interest bearing convertible note in the principal amount of $5 million. The one-month note from Horizon will automatically convert into approximately 7% of Horizon’s outstanding common stock upon a vote by Horizon’s shareholders. Both parties have agreed to a one year lock-up period for the common stock. In August, Horizon licensed Millennium Cell’s Hydrogen on Demand® technology for the purpose of co-developing compatible hydrogen storage cartridges for the next wave of Horizon fuel cell products. The new agreement strengthens their relationship and enhances their ability to jointly develop and sell products. Several products have already been identified for development. Horizon recently demonstrated an emergency power unit for the first time at the CEATEC Japan […]

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Congressional Wrap-Up

Capitol Hill was busy last week as Congress focused on energy issues. In addition to the energy bill introduced by Senators Joseph Lieberman (D-Conn.) and John Warner (R-Va.), the following measures also drew attention: 25 X ’25 On Tuesday the House of Representatives passed a resolution setting a goal to expand renewable energy production to 25% of total U.S. energy by the year 2025. Currently, only 6% of U.S. total energy needs is met by renewable energy sources. A Renewable Electricity Standard is key to the House energy bill passed in August. The Senate’s energy bill contained no such standard, but would expand and accelerate the Renewable Fuels Standard for the automotive industry. The House and Senate are attempting to reconcile the different bills. New Farm Bill Leaving Committee Word from the U.S. Senate Agriculture Committee is that the latest version of the Farm Bill will provide $1.3 billion dollars over five years for investments in farm-based energy, including grants and loans for cellulosic bio-refineries. The bill will be fine-tuned this week before going to the Senate floor next week. Obama and Harkin Offer Ethanol Bill Senator Barack Obama (D-IL), a 2008 presidential candidate, and Senator Tom Harkin (D-Iowa), chairman […]

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Wal-Mart's Live Better Index Shows Americans are Buying More Green Products

Wal-Mart customers are increasing purchases of green products says the company in its first update of its Live Better Index data. The Index was introduced this April to serve as an ongoing barometer of consumer attitudes and shopping behaviors. One focus of the ongoing study is products and attitudes surrounding environmental issues. The most popular products are extended-life paper products, compact fluorescent light bulbs and organic milk. Customers in Vermont are top adopters for all categories. Californians, followed by Connecticut and New Hampshire purchased the most compact fluorescent lightbulbs (CFLs) with an adoption rate of nearly 25%. Californians also led in purchases of organic baby food. Rhode Island leads the country in adoption of organic milk and Arkansas leads the way in adoption rates of compact laundry detergent. New Jersey jumped from #47 to #1 in extended-life paper products, which have also increased across the country because of increased offerings. This year’s Index survey reveals that while 43% of Americans think they will be “extremely green” in the next five years, only 11% of Americans classify themselves as “extremely green” today. Wal-Mart will now offer only concentrated liquid laundry detergent. The changeover is currently underway in the Southern region. The […]

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Citi Gets LEED Gold for NYC Tower

Citi has earned a LEED-Gold designation for its new 15-story skyscraper at Two Court Square, Queens, New York. The office tower houses 1,500 employees. Citi has committed to achieving environmental certification globally (LEED in the United States) for the construction of all new office buildings and operations centers and evaluation of existing larger facilities. This is a critical part of Citi’s pledge to embed eco-friendly practices into its everyday business and reduce greenhouse-gas emissions by 10% by 2011 at its more than 14,500 facilities worldwide. Citi also expects to open LEED-certified retail branches in 2007. The building’s green features include: – Purchase of certified green wind power that will provide 100% of the building’s energy load for the next five years. – high-performance window glazing; energy-efficient lighting and air-conditioning systems; lighting controls; and office occupancy sensors. – Workstations, carpeting and furniture made from recycled materials and/or through sustainable manufacturing processes. – Views to the outside for 90% of cubicles, offices and conference rooms. – Approximately 90% (4,590 tons) of structural steel contains post-consumer recycled content. – Efficient plumbing fixtures and a storm-water recycling system that captures rain water in a retention tank for use in cooling towers and for all […]

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