Ban on Monsanto GMO Alfalfa Upheld
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Comverge, Nevada Power Announce 126MW Clean Energy Program
Comverge, Inc. (Nasdaq: COMV), has entered into a demand reduction agreement with Nevada Power Company to supply a new Virtual Peaking Capacity (VPC) program of up to 126 megawatts of clean electric capacity. Comverge will also operate and maintain Nevada Power’s existing system estimated to be between 15-19 megawatts consisting of both thermostats and digital control units. Comverge expects to recognize between $25 and $30 million of revenue during 2007 – 2009. Under the VPC program, which will be marketed to Nevada Power’s residential and small commercial customers, Comverge will build, operate and maintain a demand responsive load management system which will encourage energy efficiency and help assure energy reliability during times of peak demand. This outsourced, pay-for- performance, program will allow Nevada Power to call upon needed capacity that can be dispatched within 10 minutes throughout the designated service territory. The program is designed to make use of the region’s energy resources more efficiently, utilizing benefits not possible with traditional generation, such as avoiding line losses and relieving transmission constrained areas in an environmentally responsible way. Robert Chiste, Comverge, Inc. Chairman, CEO and President stated “With this latest and largest VPC agreement, Comverge has over 495 megawatts of clean […]
First Solar Announces Q1 Results
Thin film solar manufacturer, First Solar, Inc. (Nasdaq: FLSR) achieved a first-quarter profit, beating analyst expectations on surging revenue. Earnings totaled $5 million (7 cents per share), rising from a loss of $5.9 million (-12 cents per share) in Q106. Sales leapt to $66.9 million from $13.6 million. Analysts generally expected fSLR to break-even for the quarter on $52.8 million in revenue. “During the first quarter we benefited from continued solid execution providing for both sequential revenue and throughput growth, while readying ourselves for the production ramp at our German plant,” said Mike Ahearn, CEO.
KLD Global Climate 100 Index is Now Investable
The KLD Global Climate 100 Index (GC100) is now investable in the U.S. The GC100 is the world’s first global index – a basket of companies that provide solutions to climate change. It tracks 100 leading, global public companies of all sizes that are engaged in decarbonization. Companies in the climate solutions value chain are positioned to benefit from increasing constraints on carbon, high fossil-fuel prices, rising energy demand, and a growing acknowledgement of climate risk. KLD Research & Analytics, Inc. announced that Fixed Income Securities, L.P (FIS) has licensed the GC100 Index) for a unit investment trust (UIT). The UIT is alled the KLD Global Climate 100 Index Portfolio, Series 1 (ADT 127). The trust will seek to provide above average total return primarily through capital appreciation by investing in a portfolio of the stocks included in the GC100 Index. “Our clients have been asking us to bring a product to market that has the potential to benefit from society’s desire to limit its impact on the planet,” said Mike Boyle, Senior Vice President of Advisors Asset Management. “Until now we have been unable to find a solution that was adequately researched and diversified. We believe that a trust […]
Asia Power to Buy Renewable Power Plants in China
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Zoltek Reports Q2 Results
Zoltek Companies, Inc. (Nasdaq: ZOLT) reported continued strong gains in sales and results of operations for the second quarter of its 2007 fiscal year. Net sales grew to $36.7 million, up from $26.2 million in Q206, an increase of 40%. Operating income from continuing operations increased to $5.9 million, compared to $3.1 million in Q206, an increase of 87%. Zoltek reported a positive cash flow from operating activities of $3.5 million for the quarter, compared to $0.6 million in Q206. “We are very pleased that our results continue to show strong growth trends,” Zsolt Rumy, Zoltek’s Chairman and CEO said. “We are on target in meeting our goals for sales growth and profitability improvements. We have raised our gross margin over the past year to 29% from 23% due to successful implementation of recent price increases and our focus on execution of productivity improvements. Our strong performance over the first half of the year reflects the contribution of two carbon fiber production lines that commenced operation in January, and continued strong demand for our carbon fibers from the wind energy and other sectors. With the addition of two more carbon fiber production lines that have just been placed in service […]
Trex Announces Q1 Results
Trex Company, Inc. (NYSE: TWP), manufacturer of Trex® decking, railing and fencing, announced financial results for the first quarter ended March 31, 2007. Net sales totaled $115.9 million, up from $105.3 million for Q106. Net income totaled $3.7 million ($0.25 per diluted share), down from $4.1 million ($0.27 per diluted share) for Q106. Chairman and Chief CEO Anthony Cavanna commented, “Our ‘early buy’ program was successful in the first quarter, and fulfilled our goal of positioning Trex well for the coming decking season. During the quarter, we also began shipping our new Trex Contours(TM) line of decking and Trex Seclusions®, our new privacy fencing system. “While we are pleased with our shipment volume in the first quarter, our bottom-line results were negatively impacted by lower-than-expected plant productivity and higher-than-expected plant overhead expenses as we continue to emphasize quality and introduce new products. Selling, general and administrative expenses were favorably impacted as a result of a $3.25 million legal settlement. Increased interest expense, driven by higher debt levels reflecting an increase in working capital, also negatively affected our results. “Despite many positives, we remain cautious about market conditions for 2007 due to uncertain economic conditions related to the overall activity in […]
Hain Celestial to Miss 4Q Revenue
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Germany: Reinecke + Pohl Signs Agreement with Korea's LG Chem
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DOE Announces $200 Million for Small Biorefineries
The U.S. Department of Energy (DOE) announced it will provide up to $200 million over five years (FY’07-’11) to support the development of small-scale cellulosic biorefineries in the U.S. DOE is looking for projects that will develop biorefineries at 10% of commercial scale that produce liquid transportation fuels such as ethanol, as well as bio-based chemicals and bioproducts used in industrial applications. “This research will provide the next necessary step toward developing cellulosic biorefineries that can transform our transportation sector in a clean and cost-effective manner,” Secretary Bodman said. Small-scale projects will use novel approaches and a variety of cellulosic feedstocks to test new refining processes. These projects complement DOE’s announcement earlier this year, which makes available up to $385 million over four years for the development of six full-scale biorefineries. The full-scale biorefineries focus on near-term commercial processes, while the small-scale facilities will experiment with new feedstocks and processing technologies. Combined, these small- and full-scale projects will receive up to $585 million in federal investment. The funds will support demonstration projects that test key refining processes and provide operational data needed to lower the technical hurdles sometimes associated with financing a full-size commercial plant. These projects are expected to […]
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