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Ballard Signs Supply Agreement With Plug Power

Ballard Power Systems (Toronto:BLD.TO; NasdaqGM:BLDP) and Plug Power Inc. (NasdaqGM:PLUG) have signed an initial 2-year agreement for fuel cell stacks for materials handling applications. This supply agreement follows Plug Power’s announcement that it will acquire General Hydrogen Corporation, and replaces Ballard’s previous supply agreement with General Hydrogen. Plug Power also purchased Cellex Power Products, Inc. earlier this year. Both General Hydrogen and Cellex Power are Ballard customers in the materials handling market. Under this new agreement, Ballard will supply Plug Power with fuel cell stacks for all of Plug Power’s commercial sales in the materials handling market (including the requirements of Cellex Power and General Hydrogen) through April 2009. “The strength that Ballard’s fuel cell technology has demonstrated in both Cellex Power and General Hydrogen products were contributing factors in our decision to enter the materials handling market,” said Dr. Roger Saillant, President and Chief Executive Officer, Plug Power. “The existing system designs of both acquired companies, built around the Ballard stack, provide an excellent springboard toward a full portfolio of lift truck power modules for maximum opportunity in the materials handling space.” “Plug Power’s entry into the materials handling market validates the value potential of this near term market […]

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SolarWorld Group Reports Impressive Q1 Results

Germany’s SolarWorld AG (SWV.DE) reported results for the first quarter of 2007. Revenues rose 60% to Euro 132.8 million ($180.5M) compared to the same quarter 2006. Earnings before interest and taxes (EBIT) increased 31% to Euro 35.1 million ($47.7M). Increases in EBIT occured despite reduced solar panel prices. The company attributes significant sales increases and cost reductions at all levels of the value chain to the rise. SolarWorld’s foreign business currently accounts for 43% of sales. The company expects that to rise to 60% in 2007.

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U.S. Senate Panel Advances Ethanol Substitute Bill

The Senate Energy and Natural Resources Committee approved bipartisan legislation that improves efficiency, promotes renewable fuels diversity and invests in research on carbon sequestration. In a 20-3 vote, the Committee approved a Bingaman-Domenici joint mark that combines measures introduced over the past month. The legislation now goes to the Senate. “This legislation is a big step forward in three areas key to America’s energy future. It will help dramatically reduce our dependence on fossil fuels by requiring the more efficient use of energy and by putting a much greater emphasis on the use of renewable, homegrown fuels. “In particular, this bill sets the stage for biofuels such as cellulosic ethanol to greatly expand in our fuel supply, and will also save consumers money by improving efficiency standards,” Sen. Jeff Bingaman said. The legislation establishes an escalating requirement to reduce America’s gasoline consumption, beginning with a 20 percent savings target in 10 years — equivalent to more than 32 billion gallons per year — and enough to reduce world oil prices by more than $2.50/barrel under current EIA assumptions. The bill places a particular focus on the development of advanced biofuels by requiring an increasing portion of renewable fuels to be […]

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Apple Inc. Gets Greener

URL: http://www.ens-newswire.com/ens/may2007/2007-05-03-06.asp Website: http://www.ens-newswire.com/ens/may2007/2007-05-03-06.asp     

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Solar Boat Completes Transatlantic Crossing

Sun21, a solar powered catamaran, is completing the first transatlantic crossing by a solar powered boat. It arrives today in New York Harbor. Developed and sponsored by the Swiss transatlantic21 Association, Sun21 will arrive in time for a formal ceremony at 3 p.m, May 8 in Battery Park City. Following Christopher Columbus’s historic route to the Americas, Sun21’s journey, with a 5-person crew, serves as a powerful example of responsible energy use with wide-ranging applications. The vessel traveled 7,000 nautical miles without a drop of oil. Sponsors: transatlantic21, Somfy, Messe Schweiz. Partners: Riverkeeper, ThinkSwiss – Brainstorm the future, a Swiss U.S.-wide program on education, research and innovation.

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