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US States Allow Pesticide Use on Public Property

With increasing public concern about the use of toxic and polluting pesticides because of adverse impacts on people and the environment, a national study finds that states are lagging behind on “green” standards for managing their state lands and buildings. The report, “Ending Toxic Dependency: The State of IPM”, to be published in the Summer issue of “Pesticides and You”, finds that statewide integrated pest management (IPM) laws do not exist in 40 states and the District of Columbia, and existing laws in only 10 states are limited and mostly inadequate. Only four states call for pesticide reduction and alternatives that do not rely on toxic chemicals in their IPM law. Six of the 10 states adopt the definition most promoted by the chemical and pest control industry – a combination of methods without priority being given to non-chemical practices and absent toxic reduction or elimination goals and least-toxic chemicals. “While people are increasingly concerned about pollution, global warming, and fossil fuel use, state legislatures have a responsibility to ensure that pest management practices on state property are environmentally sound,” said Jay Feldman, executive director of Beyond Pesticides, and co-author of the report. “The toxic and petroleum-based pesticides are not […]

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American Superconductor Receives $70M Order

American Superconductor Corporation (NASDAQ: AMSC) has received a follow-on $70 million order for wind turbine electrical systems from Beijing-based Sinovel Wind Corporation Limited. The order calls for AMSC’s wholly-owned subsidiary, AMSC Windtec, to ship the customized electrical systems to Sinovel in 2008 for use in Sinovel’s 1.5 megawatt (MW) wind energy systems. AMSC Windtec turbine electrical systems provide reliable, high-performance wind turbine operation by controlling power flows, regulating voltage and controlling the pitch of wind turbine blades to maximize efficiency. “The wind power industry is stronger than ever in China, and Sinovel is doing everything in its power to satisfy the increasing demand for environmentally friendly wind energy systems,” said Han Junliang, Chairman and President of Sinovel. “AMSC Windtec has been – and will continue to be – a valued ally in our drive to become a leading wind energy system manufacturer in China and around the world.” In March 2007, AMSC announced that it had signed a contract with Sinovel under which AMSC Windtec and Sinovel will jointly develop 3 MW and 5 MW wind energy systems for which Sinovel has global intellectual property rights. Sinovel plans to market and sell these wind energy systems worldwide. Sinovel is developing […]

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Ovonic Signs $108M Agreement with Advanced Green Technologies

United Solar Ovonic LLC, a wholly owned subsidiary of Energy Conversion Devices, Inc. (NASDAQ: ENER) has signed a three-year distributor agreement with Advanced Green Technologies, Inc. for $108 Million of Photovoltaic (PV) products. A unit of Advanced Roofing, Inc., Advanced Green Technologies is offering sustainable building integrated solutions and renewable energy products for commercial and residential roofing applications using UNI-SOLAR® products. California and 12 other states have recently embraced energy efficiency initiatives and renewable energy policies in efforts to reduce greenhouse gas emissions. “We are convinced that our relationship with Advanced Green Technologies will further successful installations of building integrated solar power systems and demonstrate the use of UNI-SOLAR® products for improved energy self-reliance,” said Subhendu Guha, President and Chief Operating Officer of United Solar Ovonic. Unlike traditional crystalline technology, which typically uses heavy glass panels, UNI-SOLAR® products are flexible, durable, lightweight, and easy to install. Because of these characteristics, UNI-SOLAR® triple-junction products offer the ideal solution for both grid-connected and off-grid solar electric systems. Independent studies in Europe and elsewhere have shown that triple-junction products deliver more energy per rated power than the conventional crystalline products. Website: [sorry this link is no longer available]     

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Praxair Authorizes $1B Share Repurchase

The board of directors of Praxair, Inc. (NYSE: PX) has authorized the repurchase of up to $1 billion of its common stock, reflecting the company’s strong balance sheet and growing free-cash-flow generation from operations. “This share repurchase program reflects the confidence we have in the long-term growth prospects for our business, and our commitment to increasing shareholder value,” said Steve Angel, chairman and chief executive officer. “Our first priority will continue to be investing in profitable growth projects; however, due to our high return on capital, we expect to generate increasing levels of cash flow.” The share repurchases are expected to be completed over the next two years. Share purchases may take place from time to time on the open market or through negotiated transactions, subject to market and business conditions. The purchases will be financed by available cash and debt. This program replaces the repurchase program in effect since 1997 which has been used primarily to offset the dilutive effect of shares issued under employee stock benefit plans and the dividend reinvestment and stock purchase plan. The board of directors also has declared a quarterly dividend of 30 cents per share, unchanged from the previous quarter. The dividend is […]

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