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China Sunergy Surges on IPO

Shares of China Sunergy (Nasdaq: CSUN) spiked by more than 20% in its stock market debut Thursday. The company offered 8.5 million shares at $11 a share, raising $94 million. The IPO opened at $12 and rose to $13.60. The Nanjing, China-based solar cell manufacturer reported 2006 net income of $11.8 million on $150 million in revenue. In 2005, Sunenergy reported a net loss of $307,000 on revenue of $14 million.

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MEMC Announces Share Repurchase Program

Silicon manufacturer MEMC Electronic Materials, Inc. (NYSE: WFR) announced the Board of Directors authorized a share repurchase program for up to $500 million of the company’s outstanding common stock. The program will allow the company to purchase common stock from time to time on the open market or through privately negotiated transactions using available cash. The announcement is positive for WRF stock, as investors have been waiting to see a productive use of the fast-growing cash balance. At an average price of $60/share, the program would reduce the number of shares by 8.33 million, which if completed in 2008 would increase the EPS estimate by $0.15, to $4.28. This could raise the fair value of the shares by nearly $3, to $81. To keep up with developments on MEMC, subscribe to Progressive Investor. Website: [sorry this link is no longer available]     

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A123 Lithium Ion Battery to Go Into Hybrid Buses

A123Systems, developer and producer of state-of-the-art Automotive Class Lithium Ion(TM) batteries, announced that starting in early 2008, BAE Systems will be offering A123Systems’ lithium ion battery technology as part of its HybriDrive® propulsion system. BAE Systems’ HybriDrive propulsion system is available on the DaimlerChrysler Orion VII hybrid transit bus. The system is in use in three of the four largest hybrid bus fleets in the world. The next-generation HybriDrive system featuring A123Systems batteries will be available for commercial buses beginning in 2008. A123Systems is designing and building turnkey energy storage systems (ESS) specifically for BAE Systems. Built on A123Systems’ Nanophosphate(TM) chemistry, these packs comprise a power boost component which provides higher specific power, lighter weight and smaller overall volume than the existing battery packs, resulting in a more robust ESS that further reduces emissions in heavy-duty applications. The company’s batteries are significantly smaller and lighter than the previous generation ESS technology typically used in this market and are designed to withstand the heavy duty environments typical of an urban bus drive cycle. “Our Nanophosphate cells offer a marked performance improvement in power, calendar and cycle life over other battery technologies available today and address the durability and safety required for […]

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RSI Silicon Wins 2007 Ignite Clean Energy Competition

RSI Silicon of Westborough, Massachusetts is the winner of this year’s Ignite Clean Energy Business Competition, sponsored by the MIT Enterprise Forum.The company has developed a unique technology to address the critical worldwide shortage of silicon, which affects more than 90% of solar cells made today. While prices of silicon skyrocket and supply from standard sources diminishes, RSI Silicon’s process provides solar grade silicon at a fraction of the current cost, with only 10% of the capital cost. By using this new process, the team expects to compete with large silicon manufacturers and revolutionize the way the material is produced. The team will use the funding to build a pilot line and R&D facility, followed by a large silicon plant to produce up to 15,000 tons per year. RSI will receive $25,000 cash, three months worth of public relations services from Bell Pottinger USA, $15,000 in legal services from Mintz Levin and a choice of one year of office space from Cummings Properties valued at $25,000 or incubator space at the U. Mass Dartmouth Applied Technology and Manufacturing Center worth $15,000. The two second place teams are Fox 2 Technologies of Hampton, New Hampshire and Bagazo of Cambridge, Massachusetts. Fox2 […]

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Ascent Healthcare Receives ''Champions for Change'' Award

Hospitals could be otherwise known as “waste central” – practically everything they use is disposable. Because Ascent Healthcare Solutions is changing that, the company won the sole award this year in its category from Hospitals for a Healthy Environment (H2E) for actively promoting awareness of environmental stewardship in the healthcare sector. Ascent reprocesses single-use medical devices and out of 130 entrants, was the only medical device reprocessor to receive an award. Ascent was honored for its environmental initiatives and for helping its hospital and surgery center customers improve their environmental performance. Ascent’s unique Advantage(TM) program provides hospitals with a one-step, easy-to-use collection system that promotes device reprocessing and recycling and dramatically reduces the use of disposable sharps containers and their contents in rapidly filling landfills. Additionally, the company has pioneered an innovative disinfection technology for its own collection containers that dramatically decreases water consumption and eliminates environmentally harmful cleaning agents. Since the company’s inception, Ascent’s customers have safely reprocessed in excess of 50 million medical devices, eliminating more than 10,000 tons from local landfills and saving customers more than $500 million in medical device supply costs through reprocessing and recycling medical products. In 2006, Ascent eliminated over 1000 tons of […]

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Budget for Restoring Earth

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$93 billion a year to restore the earth's systems isnt' much, compared to the $400 billion a year the world's invested for decades into the existing world energy structure.

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