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WorldWater Announces Q4, Year Results

WorldWater & Power Corp. (OTC BB:WWAT.OB), developer and marketer of proprietary high-horsepower solar systems, announced results for the fourth quarter and full year ended December 31, 2006. Revenue for Q4 hit a record $7.1 million, with gross profit of $0.9 million while, for the year, WorldWater reported revenue of $17.3 million, with gross profit of $2.7 million. “We are extremely pleased to announce, as expected, our best revenue year in the Company’s history,” said Quentin Kelly, Chairman. “We set out to transform WorldWater & Power in 2006 and accomplished just that – with revenue nearly eight times what it was in 2005, as we executed to plan and completed such major installations as the $7.8 million Farm ACW avocado ranch. Not only did we significantly grow the Company and improve gross margins, but we entered into a strategic partnership with EMCORE, raised capital, and added seasoned talent to our executive staff. We have positioned the Company for continued expansion in 2007 and are off to a great start. In total, we installed 2.4 megawatts in 2006 versus 275 kilowatts in 2005, and we expect to at least double our production during 2007 to approximately 5 megawatts of electricity. “I am […]

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New Climate Legislation Introduced, Passed Committee

The Senate Foreign Relations Committee passed Senator Joe Biden (D-DE) and Senator Richard Lugar’s (R-IN) bipartisan resolution (S.Res.30) calling for the U.S. to return to international negotiations on climate change. This is the first legislation on climate change to move out of a Committee in the 110th Congress. “The climate has changed. It has changed outside, where last year was the warmest on record in the United States. And the climate has changed in halls of the Senate, where the causes and consequences of global warming – and how we should respond – is a major concern of this new Congress,” said Chairman of the Senate Foreign Relations Joe Biden. The resolution calls for United States participation in negotiations under the United Nations Framework Convention on Climate Change, signed by the first President Bush, to protect the economic and security interests of the United States, and to commit all nations – developed and developing – that are major emitters of greenhouse gases to achieve significant long-term reductions in those emissions. Most important, it puts the Senate on record, calling for the United States to resume its role as leader in the international effort to address this global threat. The resolution […]

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Cape Wind Clears State Hurdle

The controversial Cape Wind Farm off the coast of Cape Cod has received approval for its Environmental Impact Report. The project will now advance to the state permitting process. Cape Wind involves the development of 130 Wind Turbine Generators on a grid over 25 square miles in Nantucket Sound known as Horseshoe Shoals, located in federal waters. The project also includes cables that transmit the electric power to the mainland, making landfall in the Town of Yarmouth and passing through Massachusetts’s territorial waters, generally three nautical miles from shore. The portion of Cape Wind located in federal waters is currently under federal environmental review led by the US Department of the Interior, Minerals Management Service. The $10 million Cape Wind mitigation package consists of: ” $780,000 towards the restoration of Bird Island, off the town of Marion in Buzzards Bay. At 1.5 acres in size, Bird Island provides prime nesting habitat for Roseate and Common Terns, but the island is subject to significant and accelerating erosion. The enhancement of nesting habitat on Bird Island will benefit the same tern population that is subject to potential impacts from the wind turbine array. ” $4.22 million towards natural resource preservation, marine habitat […]

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