Calvert Launches Global Alternative Energy Mutual Fund

Calvert, the largest socially and environmentally responsible investing mutual fund family, has launched the Calvert Global Alternative Energy Fund (CGAEX). The Fund invests in a broad universe of U.S. and non-U.S. stocks, seeking out companies that are alternative energy market leaders as well as those building a significant presence in the sector. Said Steve Falci, Calvert’s Chief Investment Officer, Equities, “The Calvert Global Alternative Energy Fund is a sector-specific fund that offers exposure to alternative energy with attractive diversification potential for both socially responsible (SRI) and non-SRI global investors. Our newest fund expands Calvert’s line up of international equity offerings for individual investors, advisors, and institutions who are looking for the long-term, strategic benefits of including an allocation to global alternative energy in their portfolios.” Calvert named KBC Asset Management International (KBC), a Dublin-based firm, as sub-advisor. KBC’s investment professionals have strong expertise in the fast growing, nascent alternative energy sector, a long history in socially responsible investing, and a strong reputation in multi-cap global investing. KBC, which launched one of the first global mutual funds with an alternative energy focus in 2000, has $20 billion in assets under management (as of 12/31/06), and $3.5 billion in socially screened assets, […]

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E-Ton Solar Buys U.S. Supplier for $153.7M

E-Ton Solar Tech Co. (3452.TWO), a leading Taiwan solar cell manufacturer, announced it would acquire US-based Adema Technologies, which makes solar components. E-Ton will pay US$153.7 million in cash and stock. The move is part of a vertical integration trend in the industry where solar panel makers combine with materials providers to ensure supply. “Through this acquisition, E-Ton Solar will be able to establish a stable long-term ingot supply base from Adema,” said Stephen Wu, E-Ton Solar founder and chairman. E-Ton expects the deal to close in the third quarter.

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Zoltek Signs Long Term Supply Agreement With DeWind

Zoltek Companies Inc. (NasdaqGM:ZOLT) has signed a long-term strategic supply agreement with DeWind Inc. and DeWind Ltd of Luebeck, Germany (a subsidiary of Composite Technology Corporation). The expected sales volume is over US $30 million for the first three years of the contract. Zoltek will be the exclusive supplier of carbon fiber and carbon fiber materials to DeWind for the production of rotor blades for its most advanced turbines. “The agreement with DeWind represents another strong vote of confidence by a leading-edge wind energy company in the expanded use of carbon fiber. DeWind has been particularly innovative in its design of a high carbon fiber content blade resulting in a very light and stiff rotor integrated with a novel generator concept,’ said Zsolt Rumy, Zoltek CEO. The D8 turbine (2.0 MW) from DeWind is established in Europe as one of the most reliable and productive turbines in the industry. The new D8.2 represents yet another novel advancement with the WinDrive Hydrodynamic Gearbox enabling the use of a Synchronous Generator.

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GT Solar Signs $39.5M Chinese Polysilicon Reactor Contract

PV equipment supplier GT Solar Inc., has signed a $39.5 million contract to sell polysilicon reactors and converters to Jiangsu Shunda Electronic Materials and Technology, based in China. GT’s reactors and silicon tetrachloride converters will allow Shunda to produce silicon feedstock for PV cells. Shunda’s President, Ni Yunda, said: “GT Solar has the expertise to provide the equipment for the production of ultra-pure polysilicon. Their support is a key part of our production plans.” Shunda Group produces single crystalline ingots, wafers, photovoltaic cells and modules. It plans to produce its own polysilicon in the near future, as well as becoming a major player in the photovoltaic market.

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Action Alert: Senate Vote on Renewable Portfolio Standard (RPS)

National Renewables Portfolio Standard (RPS) legislation could come to the floor of the Senate as soon as the end of May. The legislation would require utilities to generate or purchase 15% of electricity from renewable energy sources by 2020. The policy ensures that a minimum amount of renewable energy is included in the portfolio of electricity resources serving a state or country, and — by increasing the required amount over time — the RPS can put the electricity industry on a path toward increasing sustainability. Please contact your Senators and ask them to support the Bingaman/Reid RPS amendment when the energy bill comes to the Senate floor and to oppose amendments that would weaken the program’s requirements for renewable energy. See the link below. The amendment will be attached to a bill expected to be debated in the Senate this week, which would increase energy efficiency of vehicles and broaden access to biofuels. Sen. Jeff Bingaman of New Mexico, the chairman of the Senate energy panel and major co-sponsor of the bill is introducing the amendment. Under the bill, new cars and trucks would have to get 35 miles per gallon by 2020, after which fuel standards would increase 4% […]

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Controversial Oil Substitutes Sharply Increase Emissions, Devour Landscapes

The mounting quest for oil alternatives threatens drastic increases in warming gases and severe impacts on habitats across the US and Western Canada unless clear safeguards are adopted quickly, according to the Natural Resources Defense Council (NRDC). The warning comes as lawmakers are facing growing pressure to give huge new subsidies and other incentives to companies involved liquid coal, oil shale and tar sands. “Industry and political leaders are pushing us blindly down a dangerous and expensive energy path,” said NRDC energy analyst and report author Deron Lovaas. “The vast amounts of energy needed to make these fuels means that overall emissions from every gallon could double or even triple. Mining fuels to put in our gas tanks would have devastating impacts on local communities and the landscape. It will suck up valuable water in places where it is already in short supply.” The report also warns potential investors of looming liabilities and steep financial risks if project developers continue to ignore the prospect of new emission rules and other environmental safeguards. Every major oil company is pursuing these unconventional oil technologies. High oil prices are making such sources more cost competitive, but vast new spending is still required to […]

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Phase-Out of HCFCs Accelerates

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USDA, DOE: $18M Solicitation for Biomass R&D

The U.S. Department of Agriculture (USDA) and the U.S. Department of Energy (DOE) are making $18 million available for R&D of biomass-based products, biofuels, bioenergy and related processes. USDA will provide up to $14 million and DOE will provide up to $4 million (FY’07). The $18 million solicitation will fund projects in the following four categories (the share of overall funding is noted in parenthesis): the development of technologies to convert cellulosic biomass into intermediaries for biobased fuels (45 percent); product diversification (30 percent); feedstock production (20 percent); and analysis for strategic guidance (5 percent). Maximum award amounts will not exceed $1 million. Eligible applicants include state and federal research agencies, national laboratories, private-sector groups and nonprofit organizations. Consortia of two or more groups also are encouraged to apply. The closing date for pre-applications is July 11, 2007. Preapplications must be submitted electronically through Grants.gov. Prospective grantees whose pre-applications have been selected for further processing must submit final applications within 45 days of the notification. Meanwhile, the GAO (Government Accountability Office) released a report that concludes the DOE doesn’t have a solid plan to get biofuel vehicles into the market. It notes that less than 1% of fueling stations in […]

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