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Tapping The Sun

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SolFocus Raises $52 Million

SolFocus, Inc. has closed on $52 million (EUR 38 million) in funding. This included $27.4 million (EUR 20 million) in Series A financing for SolFocus Europe, and the balance as Series B financing for SolFocus, Inc. The financings, both led by New Enterprise Associates (NEA), also include Moser Baer India, Ltd., David Gelbaum, Metasystem Group, NGEN Partners, Yellowstone Capital Inc., and others. SolFocus Europe is headquartered in Madrid, Spain and will serve the European market with CPV, tracker and thermal products. SolFocus Europe operations will include business development, marketing, engineering, research and development activities, and with field operations, including the ISFOC (Institute of Concentration Photovoltaic Systems) program. SolFocus, Inc. was selected as one of three ISFOC winners in October 2006. The ISFOC project is a 3MW installation of CPV technology in Castilla la Mancha, Spain. SolFocus will also continue collaborative work with the Polytechnic University of Madrid and its Institute of Solar Energy (IES) in meeting technology challenges to further the proliferation of solar energy worldwide. SolFocus also recently acquired Inspira, S.L., a Madrid-based provider of solar trackers for the CPV and PV industries. According to SolFocus CEO Gary D. Conley, the company will base its tracker and solar thermal […]

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Fuel Tech Awarded Air Pollution Control Orders

Fuel Tech, Inc. (Nasdaq: FTEK) was awarded multiple air pollution control orders totaling $16.2 million. Two of the orders, representing $14.5 million, were issued by a major existing electric utility customer in the Southwestern United States and comprise five NOxOUT® Selective Non-Catalytic Reduction (SNCR) systems. These systems will be installed at two power stations firing a blend of lignite and Powder River Basin coals, with component deliveries commencing during the second quarter of 2008 and project completion scheduled for the third quarter. Separately, an order was also secured from a Southeastern utility alliance partner for installation of a NOxOUT SNCR system on a coal-fired boiler. John F. Norris Jr., President and Chief Executive Officer, commented, “Following the recent completion of mapping and modeling activities on these five units, we are truly elated to be playing such a pivotal role in the comprehensive nitrogen oxide (NOx) reduction strategy of this Southwestern customer. At $14.5 million, this initiative not only represents a significant combined order, but also a strong commitment to the Company’s technologies. Moreover, when coupled with the order from our Southeastern utility alliance partner and our $3.7 million announcement earlier this month, we have now recorded nearly $20 million in […]

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