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SatCon Awarded $2.5M Contract

SatCon Technology Corporation (Nasdaq CM: SATC), a developer of power management and system architecture solutions for the alternative energy and distributed power markets, announced that its SatCon Applied Technology division has been awarded an additional $2.5M contract with a California customer for the next phase of pulse power equipment capable of providing 8.8 megawatts of power for several seconds. The total system will have pulse power capabilities in excess of 18 megawatts. Delivery of the first stage is scheduled for June 2007 and this new Stage 2 delivery is scheduled for October 2007. This pulse power application is an adaptation of SatCon’s high power electronics and flywheel energy storage products. SatCon’s Chief Executive Officer, Dave Eisenhaure, stated, “This contract supports leadership in supplying power conversion and energy storage products. These types of programs allow customers to draw low levels of power from the grid and then supply large pulses of power for unique applications.” The award expands on SatCon’s portfolio of power electronics products with the development of an integrated pulse power energy storage system. This technology has direct applicability to both civilian and government customers. About SatCon Technology Corporation SatCon Technology Corporation is a developer and manufacturer of electronics […]

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American Wind Power Corp to Sell Residential Turbines

American Security Resources Corporation (OTCBB:ARSC) President and COO, Bob Farr, announced, “Late yesterday we signed an agreement giving our new subsidiary the exclusive right to develop and commercially market a residential scale version of the patented Noble Wind Turbine.” Farr continued, “We have formed a subsidiary, American Wind Power Corporation, to develop this opportunity. In addition we plan to work on developing technologies from our Hydra Fuel Cell and American Hydrogen subsidiaries that will allow for the storage and transfer of wind generated electricity from periods of low demand to periods of peak demand.” American Security Resources Corporation ARSC is a holding company actively seeking to acquire companies and technologies that will advance the development of alternative energies. ARSC, through its Hydra subsidiary, is developing high volume, mass producible hydrogen fuel cells. Its American Hydrogen Corp. subsidiary is developing a method to inexpensively formulate hydrogen from ammonia. Website: http://www.americansecurityresources.com     

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Diversa Reports Q1 Results

Diversa Corporation (Nasdaq: DVSA), a leader in the development of high-performance specialty enzymes, reported financial results for the first quarter 2007. Revenues were $11.3 million, up 19% compared to $9.5 and net loss was $10.3 million ($0.22 per share) compared to $21.4 million ($0.47 per share) for Q106, including restructuring charges of $11 million. Diversa has cash, cash equivalents, and short-term investments totaling $125.5 million. Revenue increases were primarily from increased product-related revenue ($5.4 million, up 111%) and, to a lesser extent, from grant revenue. The increase in product-related revenue resulted primarily from increased sales of Phyzyme(TM) XP enzyme sold through the Company’s collaboration with Danisco Animal Nutrition. Gross margins decreased in Q1 compared to Q106, primarily due to increased sales of the Company’s zero gross margin inventory to Danisco Animal Nutrition and one-time marketing roll-out expenses for the new thermally-stable formulation of Phyzyme XP, as well as costs related to ramped-up sales efforts of Phyzyme in Europe following the recent expanded approval within the European Union. The Company sells such inventory to Danisco at cost and then shares 50% of Danisco’s profit when the product is sold to the end user. The Company expects both its revenue and gross […]

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