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Alternate Energy Stocks With Juice

URL: http://www.forbes.com/2007/02/20/energy-solar-stocks-pf-ii-cz_pm_0220sf.html?partner=yahootix Website: http://www.forbes.com/2007/02/20/energy-solar-stocks-pf-ii-cz_pm_0220sf.html?partner=yahootix     

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FuelCell Energy Signs 10-Year South Korea Agreement

FuelCell Energy, Inc. (NasdaqGM:FCEL), a stationary fuel cell plant manufacturer, announced an expanded agreement with its Korean strategic distribution partner, POSCO (NYSE:PKX). Under the agreement, POSCO’s subsidiary POSCO Power will become a provider of FuelCell Energy’s Direct FuelCell(r) (DFC(r)) power plants in Korea, and will manufacture the balance of plant equipment for the plants. Under the 10-year license and distribution agreement, POSCO Power will create a fuel cell sales and service organization, and employ its expertise in power plant design and raw materials procurement to reduce power plant costs. Fuel cell stack modules will be manufactured by FuelCell Energy in Connecticut and shipped to Asian customers for installation with POSCO Power balance of plants. POSCO Power also will build a facility to manufacture the balance of plant (non-fuel cell stack portion of FuelCell Energy’s DFC power plants) in Korea. As part of the alliance with FuelCell, POSCO Power will pay FuelCell Energy a 4.1 percent annual royalty on fuel cell related sales by POSCO Power over the term of the agreement subject to minimum royalties. POSCO has also agreed to invest $29 million in FuelCell Energy, Inc. through the purchase of common stock at $7.59 per share, a premium over […]

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Akeena Solar Announces Preliminary 2006 Revenue

Akeena Solar, Inc. (AKNS.OB), a leading designer and installer of solar systems, announced preliminary revenue for fiscal 2006 of approximately $13.4 million. This represents an increase of 86% growth over its 2005 revenue of $7.2 million. The company had previously stated it expected 2006 revenue growth of 70% over 2005. “Our pace of solar installations in California exceeded our expectations in November and December,” said Barry Cinnamon, president and CEO of Akeena Solar. “We integrated our newly expanded Fresno, California office ahead of schedule and experienced favorable weather conditions on the West Coast. As a result, both residential and small commercial installations were up in the fourth quarter, and we have exceeded our revenue expectations for 2006.” Cinnamon continued, “Looking at the broader market, we are seeing preliminary indications of decreasing solar panel prices, which is a positive development for Akeena. We are an integrator, and the decreasing panel prices will further improve customer economics and drive top line growth for Akeena. We anticipate that lower installation costs combined with increasing awareness of the benefits of solar power will drive demand going into 2007. As such, we expect our 2007 revenue to grow approximately 125% over 2006 based on our […]

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Germany: Econcern, Solon Establish Polysilicon JV

Econcern and SOLON AG have reached an agreement to establish a joint venture, Silicium de Provence SAS to produce solar grade silicon. The investment, of about EUR300 million, will enable continued growth of the two companies by establishing a secure silicon source. The company will be located in France and will owned under the umbrella of SOL Holding AG. Frank Wouters, CEO of both SOL Holding AG and Silicium de Provence says, “It is very exciting to set up and to work on one of the largest polysilicon plants in the world, especially in France, a country that is currently discovering the potential of renewable energy. We will sell our solar grade silicon to leading wafer and solar cell manufacturers worldwide. The wafers will be converted into top-quality solar cells. With declining cells costs high efficiency will be the future in PV.” Silicium de Provence will initially produce 3000 tons of polysilicon a year and will be operational at the end of 2008. A second phase expansion could increase capacity to 7,500 tons annually. Dr. Ad van Wijk, Econcern Chairman, “Ecostream supplies turnkey renewable energy systems worldwide. In the recent past, Ecostream’s growth was restricted by the limited availability of […]

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O2Diesel Enters Into $10M Stock Purchase Agreement

O2Diesel Corporation (AMEX: OTD), a company that makes ethanol diesel fuel blends, has entered into a $10 million Common Stock Purchase Agreement with Fusion Capital Fund II, LLC, a Chicago-based institutional investor. The proceeds will be used to further O2’s efforts in developing additional worldwide markets for the proprietary fuel O2Diesel”, and assist in the testing and launch of a new 28% renewable fuel which the company is currently testing with the military and a bus fleet in upstate Washington. Alan Rae, O2Diesel’s CEO, commented, “We believe this agreement will help provide the company with the most appropriate source of low cost operating and growth capital, during the development, and closing, of our recently announced acquisition of ProEco Energy and their innovative ethanol project. We considered several financing alternatives and concluded this agreement with Fusion Capital provides O2Diesel with the flexibility to receive on the funds when we determine the share price is most advantageous for the company and its shareholders.” Under the agreement, O2Diesel has the right to sell shares of its common stock to Fusion Capital from time to time in amounts between $100,000 and $1 million, depending on certain conditions, for an aggregate amount of up to […]

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Ocean Renewable Power Receives $300K Grant

Ocean Renewable Power Company Maine LLC received a $300,000 development award from the Maine Technology Institute to support the commercial development of power from tidal energy. The award is to be used for the detailed engineering of a prototype project, testing, and eventual installation of a full-scale commercial project. “Maine has tremendous indigenous tidal resources and the State has the leadership and foresight to understand the importance of ocean renewable technologies.” stated Chris Sauer, president & CEO of ORPC-Maine. “We want to set the example by delivering the best possible tidal projects in North America.” The project will use proprietary Ocean Current Generation (OCGen”) technology being developed by ORPC Maine and initially will be deployed in Western Passage and Cobscook Bay. ORPC Maine has applied to the Federal Energy Regulatory Commission (FERC) for Preliminary Permits for the sites. ORPC Maine plans to begin building and installing a full scale prototype OCGen” module in Western Passage in late-2008 and, upon successful testing and monitoring, develop, permit and build commercial scale OCGen” projects at the sites. MTI was created by the Legislature in 1999 to encourage, promote, stimulate and support research and development activity leading to the commercialization of new products and […]

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