DayStar Technologies, Inc. (Nasdaq: DSTI), a developer and manufacturer of CIGS photovoltaic products, announced it has signed a commitment letter with an existing investor to provide up to $4 million of bridge financing to the Company. This financing will be subject to negotiation of satisfactory definitive agreements.
Smith Electric Vehicles, a subsidiary of UK-based Tanfield Group Plc (TAN.L) and a manufacturer of highway-ready electric vans and trucks, announced it would establish an assembly facility in the US at an undislosed location. The company, which currently produces 5 vehicles a week, says that should double by the end of the year, and triple production to 30 per week by the end of 2008. Smith expects exports to comprise 40-50% of sales next year, up from about 15%. Its 7.5-ton Newton truck has a range of 130 miles and a top speed of 50 miles per hour. It costs $120,000. The group recently launched 3.5 and 9 ton vehicles for the small van market, and will soon introduce a 12-ton vehicle. Clients include delivery firm TNT (TNT.AS) and British retailer Marks & Spencer Plc (MKS.L). Starbucks (SBUX) and DHL (DOWG.DE) are testing the vehicles. Tanfield’s California facility makes electric cherry pickers, and the company is raising output there from 25 vehicles a week.
The CEO of American Superconductor Corp. (Nasdaq: AMSC) and Director of Pacific Ethanol (Nasdaq: PEIX) have sold shares of their common stock. AMSC CEO Gregory Yurek exercised options for 89,425 shares of common stock under a prearranged 10b5-1 trading plan which allows company insiders to set up a program in advance for such transactions . According to SEC filings, he exercised options for $3.53 and $12.56 apiece and then sold all 89,425 shares on the same day for $16.69 to $18 apiece. Pacific Ethanol Director William Jones sold 57,726 shares of common stock for $14.51 to $14.76 apiece.
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Intel Corporation (Nasdaq: INTC) announced its processors will be lead-free beginning in the second half of this year. “Intel is taking an aggressive stance toward environmental sustainability, from the elimination of lead and a focus on greater energy efficiency of our products to fewer air emissions and more water and materials recycling,” said Nasser Grayeli, Intel vice president and director of assembly test technology development, Technology and Manufacturing Group. Lead is used in a variety of micro-electronic “packages” and the “bumps” that attach an Intel chip to the packages. Packages wrap around the chip and ultimately connect it to the motherboard. Different types of packages are used for processors targeted at specific market segments, including mobile, desktop and server. Package designs include pin grid array, ball grid array and land grid array, and all are 100 percent lead-free in Intel’s 45nm Hi-k technology generation. In 2008, the company will also transition its 65nm chipset products to 100 percent lead-free technology. The processors also make use of the company’s Hi-k silicon technology for reduced transistor leakage, enabling more energy-efficient, high-performance processors. Ultimately, Intel’s 45nm Hi-k family of processors will enable sleeker, smaller and more energy-efficient desktop, notebook PC, mobile internet device […]
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Tesla Energy Group, a newly formed division of Tesla Motors, has signed an agreement to supply Think Global with lithium-ion battery packs for their line of “TH!NK city” electric cars. The $43 million supply agreement begins in December 2007 and continues through 2008. Tesla Energy Group was formed in December of 2006 to develop and market custom designed high performance battery packs for customers in a wide range of industries. Tesla Motors created Tesla Energy Group in response to demand from outside companies for advanced lithium-ion battery pack technology for automotive and other industrial use. Said Martin Eberhard, CEO of Tesla Motors, “Tesla Energy Group will provide additional sources of operating income for Tesla Motors while accelerating our competitive advantage in battery pack design and manufacturing. Both of these support our core business of developing and marketing extraordinary electric cars such as the Tesla Roadster.” The second generation TH!NK city vehicle is expected to be launched in Norway in 2007, and selected international markets in 2008. http://www.think.no/. Tesla Motors has taken over 400 reservations for its first car, the Tesla Roadster, a stylish, high performance sports car that accelerates to 60 mph in about 4 seconds with extreme energy efficiency. […]
Comverge, Inc. (Nasdaq: COMV), which launched its IPO about a month ago, reported financial esults for the first quarter. “I am pleased to report we started off 2007 with increased market momentum. We were awarded several new or expanded VPC contracts for residential, commercial and industrial demand response programs totaling 149 megawatts of clean capacity,” said Robert M. Chiste, CEO. “Through the trust and confidence shown to us by our utility customers, independent system operators and state utility commissions, Comverge now has almost 500 megawatts of capacity under long-term contract.” Deferred revenues at the end of the first quarter were $9.8 million, up from $7.5 million at the end of the first quarter of 2006, an increase of 31%. First quarter revenues for 2007 were $5.7 million, compared to $5.9 million in the first quarter of 2006. Revenues for both periods exclude revenues under VPC contracts which are deferred and recognized in the fourth calendar quarter each year. Net loss was $4.5 million or $1.25 per share, compared to a net loss of $2.8 million for the first quarter of 2006, or $0.89 per share. In April 2007, the Company completed its initial public offering of 5.3 million shares of […]
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