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WorldWater Announces Private Stock Purchase

WorldWater & Solar Technologies Corp. (OTC BB:WWAT.OB), developer and marketer of proprietary high-power solar systems, announced it entered into a Stock and Warrant Purchase Agreement with the Quercus Trust. Quercus purchased 7.5 million shares of WorldWater’s common stock at a price of $1.782 per share, for total proceeds of $13,365,000. The Agreement also provides for the issuance of warrants to the Quercus Trust for the purchase of 9.0 million additional shares of WorldWater’s common stock at an exercise price of $1.815, subject to certain adjustments. Quercus and its affiliates previously owned about 21.6 million shares of WorldWater common stock, representing approximately 12.2% of the equity ownership in the Company, or 8.2% on a fully diluted basis. Now, they own approximately 16.4% of the equity ownership in WorldWater, or 10.6% on a fully diluted basis. Said Quentin Kelly, Chairman of WorldWater, “Quercus focuses on environmental investments in next-generation sustainable energy companies, and their commitment to our Company reflects their belief in our product and business plan. The funds raised will serve to bolster our growth going forward, as we extend our production capabilities, particularly for construction of Entech CPV modules for our projects in Spain and the US, and with Emcore […]

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Clean Energy Investment on Course for Another Record Year

Total new investment in clean energy is set to power ahead by more than 25% to $94.5bn in 2007, according to analysts New Energy Finance. New investment in venture capital and private equity is predicted to leap by 31.3% to $8.8bn, while companies are on course to raise $13.7bn of new money on the public markets, 31.7% more than last year. Investment in assets is set to see an impressive rise, from $38.6bn in 2006 to an estimated $46.0bn in 2007. Wind leads the way, followed by investment in biofuels and the solar sector. In the third quarter, activity on the public markets was subdued as a result of the correction that hit stock markets around the world. The value of deals was less than half the total of the previous quarter, at $2.7bn, with IPOs offering a particular contrast. The second quarter saw almost $4bn of initial public offerings, while the three months to the end of September mustered only $673m as investors stayed on the sidelines because of the market uncertainty. It was notable that the value of convertible deals grew markedly in the quarter, from $591m to $1.2bn, as the cost of debt increased and capital became […]

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Two Wind Companies Acquired

Babcock & Brown, one of the world’s top wind project developers, has acquired Bluewater Wind, which has been trying to develop Delaware Offshore Wind Park. The Park’s price tag of $1.6 billion is now more likely to get funded given B&B’s strong financial position and ability to raise additional funds as needed. Bluewater President Peter Mandelstam said “Bluewater’s new partnership with Babcock & Brown provides us with the commitment, strength, reliability and financial backing to successfully develop the Delaware Offshore Wind Park, helping to ensure it will provide stable-priced, affordable, and clean, renewable power to Delmarva Power’s customers for many years to come.” In other news, NY-based EverPower Renewables Corp., which develops utility-grade wind projects, has secured $55 million in financing from European private equity investor Good Energies. The investment will help EverPower expand its pipeline of new projects – it’s currently developing over 1.5 GW of projects in seven states.

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Consumers Ready to Reward Pro-Environmental Corporate Brands at the Checkout Line

More than half of global consumers (53 percent/representing 1.1 billion people) prefer to purchase products and services from a company with a strong environmental reputation, according to a new global survey. The global survey, sponsored by TANDBERG and conducted by Ipsos MORI, interviewed 16,823 consumers in 15 countries in order to examine consumer and worker environmental attitudes and behavior. The TANDBERG study surveyed respondents in Australia, Brazil, Canada, China, France, Great Britain, Germany, Italy, Japan, the Netherlands, Norway, Russia, Spain, Sweden and the United States. In addition, the survey revealed that not only is a company’s environmental reputation a clear preference for its customers, but also for its employees. In fact, eight in ten workers surveyed globally said they would prefer to work for an environmentally ethical organization. “In this increasingly global and collaborative workplace, employees identify closely with the values and ethics of the companies they work for,” said Frost & Sullivan industry analyst Melanie Turek. “And with environmental concerns high on many people’s lists of priorities, it’s important for employees to believe that their employer is doing all it can to be a responsible corporate citizen.” “The findings clearly suggest a relationship between a company’s environmental reputation and […]

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Commuter Benefits on the Rise with Employers

U.S. employers now view pre-tax commuter benefits as the number-one planned addition to their benefits packages, amidst a growing focus on the environment and supporting employee commuting, according to the 2007 TransitCenter Commuter Impact Survey. TransitCenter, Inc., a nonprofit organization that promotes the use of mass transit, independently fielded the survey to 245 U.S. human resource professionals across public, private, nonprofit and government organizations. Under Internal Revenue Code, tax-free commuter benefits programs can be offered by employers as an employee-funded pre-tax payroll deduction or as an employer-provided fringe benefit – and allow participants to set aside up to $110 a month tax-free to pay for transit and vanpool commuting costs, and up to $215 for commuter parking. Employees who participate can achieve tax savings equivalent to 30-40% of their out-of-pocket commuting expenses. Offering a commuter benefits program can also help employers lower their payroll taxes. Compared to last year, deployment of tax-free commuter benefits programs by U.S. employers in major metropolitan areas has grown 132%, jumping from 28% in 2006 to 65% in 2007. Today, it is the number-one program that employers plan to add to their benefits package in the next year, with 17% saying they intend to implement […]

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