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Biodiesel Companies Merge

M-Wave, Inc. (NASDAQ: MWAV) is acquiring biodiesel company SunFuels, Inc., and will operate under a new name, Blue Sun Holdings, Inc. Jeff Probst, President and CEO of SunFuels said, “SunFuels is merging with M-Wave to meet expanding consumer demand for high-quality, premium-performance biodiesel fuel.” SunFuels also completed a $10.125 million private placement of its Series A Convertible Preferred Stock. The Series A Convertible Preferred Stock is convertible into SunFuels Common Stock. M.A.G. Capital, LLC, a Los Angeles-based private investment firm, was the lead investor. The company will use the capital to complete construction of biodiesel refinery assets aggregating 45 million gallons of biodiesel per year. They intend to begin construction of the first biodiesel refinery site at Clovis, New Mexico immediately and to continue to build out a vertically integrated business model, including the construction of oilseed crushing facilities and advanced biodiesel blending terminals. About SunFuels, Inc. and Blue Sun Biodiesel LLC Headquartered in Denver, SunFuels, through Blue Sun, is a vertically integrated agriculture-energy company and marketer of premium agricultural and renewable fuels products and is a leading biodiesel marketer in the Rocky Mountain States, including Colorado, New Mexico, and Wyoming, and in Ontario, Canada. Blue Sun differentiates its products […]

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Maxwell Receives Key Ultracapacitor Order

Maxwell Technologies, Inc. (Nasdaq: MXWL) has received a purchase order for 100,000 square meters of its proprietary ultracapacitor electrode material from Shanghai Sanjiu Electric Equipment Company, Ltd., (Sanjiu) which is preparing to introduce a line of ultracapacitor products based on Maxwell’s cell architecture and high-performance electrode for the Chinese transportation, electric utility and industrial markets, with a specific focus on Shanghai. The order is to be filled over the balance of 2007, based on Sanjiu’s planned production of 100,000 large cell 3,000 farad ultracapacitors cells for the year. Dr. Richard Balanson, Maxwell’s President and CEO, said that while Maxwell has been establishing separate manufacturing facilities and its own sales and distribution organization to market Maxwell’s BOOSTCAP® ultracapacitor products in China, the alliance with Sanjiu will accelerate penetration of the very large and rapidly growing Chinese market. “The financial resources of Ruihua and SUEP and their networks of affiliated power utility and manufacturing companies and distribution channels will enable Sanjiu to expand ultracapacitor sales in China more broadly and rapidly than Maxwell could on its own,” Balanson said. “In addition to generating high-volume sales of our electrode material, this relationship may also provide an additional future option for offshore ultracapacitor assembly […]

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Ballard Provides 2007 Performance Targets

Ballard Power Systems (BLD.TO; NasdaqGM:BLDP) announced its 2006 operating achievements, and provided performance targets for 2007. All amounts are in U.S. dollars, unless otherwise noted. “In 2006 we completed our strategic re-positioning, developing a sharper focus on our core fuel cell stack business, and placing a heightened priority on nearer-term, non-automotive markets. Our agreement in December for the sale of our electric drive operations was a final step in that re-positioning. At the same time, we continued to advance our leadership position in automotive fuel cell technology,” said John Sheridan, President and CEO, Ballard Power Systems. 2006 Achievements Financial: – Grew revenues by 15% to $62 million from $53.7 million in 2005, meeting its guidance of $55-$65 million – Reduced operating cash consumption by 38% to $51.4 million from $83.3 million in 2005, meeting its guidance of $50-$65 million Product Sales: – Shipped 315 Mark 1030 fuel cell products to customers in the residential cogeneration market, with a backlog of 65 units, against a target of 280 units shipped or booked – Shipped 147 Mark 9 SSL fuel cell products to customers in the materials handling market, and signed a two-year supply agreement with General Hydrogen for 2,900 units, against […]

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Headwaters Announces Q1 Results

Headwaters Incorporated (NYSE:HW) announced results for the quarter ended December 31, 2006, the first quarter of its fiscal 2007 year. Headwaters’ total revenue for the December 2006 quarter was $274.9 million, down 2% from $280.5 million reported for the December 2005 quarter. Operating income decreased 33% to $33.9 million in the December 2006 quarter compared to $50.3 million in the December 2005 quarter. Net income for the December 2006 quarter was $17.0 million or $0.37 of earnings per diluted share, down 38% from the December 2005 quarter of $28.3 million or $0.60 of earnings per diluted share. Highlights for the quarter include: – Record quarter in coal combustion products driven by demand and pricing – Completed acquisition of Dutch Quality Stone – Strong performance in Section 45K synfuel business on lower oil prices – Third HCAT(TM) commercial run successfully completed – Investment in coal cleaning business continues; additional waste coal resources acquired Continuing softness in the residential housing and remodeling markets impacted the December 2006 quarter results. Comparisons to the prior year include the partial phase-out of Section 45K in 2006, and the effect of the soft residential construction market on both revenue and margins of Headwaters’ construction materials business. […]

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