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AMSC Signs Contract for 3MW, 5MW Wind Systems

American Superconductor Corporation (NASDAQ: AMSC) announced its Windtec subsidiary signed a multi-million-dollar wind energy system joint development contract with Sinovel Wind Corporation Ltd. based in China. AMSC also has a prior delivery right to sell future electrical components under the same conditions as other suppliers to Sinovel for the wind energy systems covered under the contract, creating a substantial follow-on business opportunity for AMSC. The order significantly expands Windtec’s business with Sinovel. Since 2005, Sinovel has ordered electrical components from Windtec for 785 wind energy systems rated at 1.5 megawatts (MW). Windtec and Sinovel will design and jointly develop 3 and 5 MW wind energy systems that Sinovel plans to market and sell worldwide. Sinovel will have the exclusive ownership and complete industrial and intellectual property rights for large-scale onshore and offshore wind turbines developed under this contract, enabling the company to compete effectively with established leaders in the market. Based in Beijing, Sinovel plans to begin series production of 3 MW systems during 2009 and 5 MW systems the following year. “AMSC’s Windtec business enabled Sinovel to quickly establish itself in the wind power market,” said Han Junliang, Chairman and President of Sinovel. “We believe the 3 and 5 […]

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Carmanah Reports 2006 Results

Carmanah Technologies Corporation (TSX: CMH) announce results for the years ended December 31, 2006 and 2005. ” Record 2006 annual revenues of $62,446,000, representing a 61% increase over 2005; ” Outstanding orders of $4,170,000 at 2006 year end; ” 2006 EBITA of $2,299,000, representing a 26% increase over 2005; ” 2006 Earnings before tax of $1,339,000, representing a 7% increase over 2005; ” 2006 Net earnings of $134,000; ” Net working capital of $27,315,000 at 2006 year end, up from $26,332,000 at 2005 year end. For Carmanah, the overall theme for 2006 was continued market penetration and operational development. During the year, the Company laid the groundwork for future growth by (1) finalizing the integration of its Solar Power Systems Group (obtained via the acquisition of Soltek Powersource Ltd. in 2005), (2) completing major facilities expansion at its Victoria, BC, Calgary, AB and Santa Cruz, CA locations, and (3) investing record R&D resources in the development of new technologies, such as the Company’s general illumination products and next generation wirelessly-controlled solar LED aviation lighting systems. Meanwhile, Carmanah achieved record annual revenues of approximately $62.4M, on track with Management’s revenue expectations, and the Company continued to operate profitably. Sales performance of […]

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Quantum Awarded Contract to Develop Plug-In Hybrids

Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) has been awarded a $2.1 million contract by California’s South Coast Air Quality Management District (AQMD) to develop and demonstrate plug-in hybrid electric vehicles (PHEVs). Quantum will develop, manufacture, and deploy 20 Ford Escape PHEVs for demonstration in Southern California. Under this contract, Quantum will use its OEM system engineering and vehicle integration methodologies to develop a plug-in hybrid version of the 2008 Ford Escape Hybrid. The PHEV system will be based on integrating a lithium ion battery pack and management system from Advanced Lithium Power Inc. (ALP), a partner of Quantum. ALP’s plug-in hybrid battery system will be designed to achieve a target of 35-40 miles of battery-only range. Extensive analysis and testing, including vehicle crash testing as well as fuel mileage and emissions performance, will be completed on the Ford Escape PHEV prior to the field demonstration to ensure the safety, performance, and reliability of the vehicles. AQMD’s draft 2007 Air Quality Management Plan calls for 100,000 PHEVs by 2014 in the South Coast Air Basin and up to one million PHEVs by 2020. This is one of the measures needed to meet the aggressive air quality goals and deadlines […]

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Nova to Receive 50% of Biodiesel Production

Nova Biosource Fuels, Inc. (NVBF.OB) has completed a biodiesel tolling and off-take agreement with Scott Petroleum, Inc. for rights to 50 percent of the biodiesel and glycerin production at Scott Petroleum’s 20 million gallon per year refinery being built by a subsidiary of Nova in Greenville, Mississippi. Construction of the facility began in July 2006 and the project is scheduled to be producing biodiesel in the summer of 2007. The refinery will be supplied with catfish oil, poultry fat and other rendered products from the Delta region as feedstock for the production of biodiesel and glycerin. “We selected Nova’s technology based upon our confidence in the technology and the entire Nova team,” said Solon Scott, President of Scott Petroleum. “Nova’s ability to utilize multiple feedstocks, produced right here in the Delta, and its ability to generate outstanding fuel quality gave us the confidence to invest and become a producer in the emerging biodiesel industry. This tolling and off-take agreement is an extension of our continuing partnership with Nova, and we are very pleased to embark on this new opportunity.” “Our relationship with Solon and Scott Petroleum has continued to evolve largely in part because of Solon’s vision to vertically integrate […]

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