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SunOpta, GreenField Ethanol Create Cellulosic Ethanol JV

SunOpta Inc. (NASDAQ:STKL; TSX:SOY) has signed a joint venture agreement with GreenField Ethanol Inc., formerly known as Commercial Alcohols Inc., a leading Canadian ethanol producer, to develop and implement commercial scale processes for the production of cellulosic ethanol from wood chips, including the planned establishment of one or more commercial scale plants. The first plant is planned to produce 40 million liters (10 million gallons) of cellulosic ethanol per year – it would be the first commercial scale cellulosic ethanol plant built and operational in the world using wood chips. Greenfield Ethanol and SunOpta are actively looking for a site for the first plant in Ontario or Quebec. Subsequent plants will be in the range of 200 to 400 million liters (50 to 100 million gallons) per year capacity. The venture will be owned 50% by GreenField and 50% by SunOpta’s BioProcess Group and will use the SunOpta BioProcess Group’s patented process solutions for the production of cellulosic ethanol. Steve Bromley, President and COO of SunOpta commented, “As previously announced, the SunOpta BioProcess Group is raising $30 million to fund growth projects in cellulosic ethanol. This joint venture is an exciting first step in the use of these funds and […]

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United Solar Ovonic Receives $15 Million Order

United Solar Ovonic, a subsidiary of Energy Conversion Devices, Inc. (ECD Ovonics) (Nasdaq: ENER), has received a $15 million order from BIOHAUS PV Handels GmbH (BIOHAUS) for the delivery of UNI-SOLAR® photovoltaic (PV) products in 2007. BIOHAUS, a well-known PV distributor and system integrator located in Paderborn, Germany, has successfully commissioned many installations using PV laminates manufactured by United Solar Ovonic. “We have chosen UNI-SOLAR® laminates as this product offers the ideal solution for building integration. Unlike traditional crystalline technology, which typically uses heavy, glass panels, UNI-SOLAR® products are flexible, durable, lightweight, and easy to install. Independent studies in Europe and elsewhere show that UNI-SOLAR® triple-junction products deliver more energy per rated power than conventional crystalline products,” said Manuela Schaefers, BIOHAUS spokeswoman. United Solar Ovonic currently has 28MW of annual production capacity at its Auburn Hills 1 location. The company’s new 30MW Auburn Hills 2 facility, which is a duplicate of its Auburn Hills 1 facility, began commercial production in December 2006. United Solar Ovonic’s expansion plan increases its manufacturing capacity to 118MW, 178MW and over 300MW per annum by the end of calendar years 2007, 2008 and 2010, respectively. About United Solar Ovonic United Solar Ovonic LLC, building on […]

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Medis Passes UL Tests

Medis Technologies Ltd. (NASDAQ:MDTL) has been formally advised by Underwriter Laboratories (UL) that its 24/7 Power Pack fuel cell product has successfully completed the engineering test program required for UL listing. UL will soon perform its required Initial Production Inspection at Medis’ production facility in Israel so that product can be shipped with the UL mark. The tests involved rigorous testing of the Power Pack for a broad range of criteria relating to product safety. Power Packs were subjected to wide temperature ranges, drop tests, crush test, vibration tests, material tests, storage tests and other testing. “This is a major milestone in bringing our 24/7 Power Pack product to the market,” said Robert K. Lifton, Chairman & CEO of Medis Technologies. “Successfully completing the demanding engineering tests established by UL, respected as a world leader in product safety certification, is a testament to the safety and commercial integrity of our Power Pack. The bar that this UL testing program has set is very high and will assure the consumer that any fuel cell product that meets these criteria is safe for use. “Our customers and potential customers have been awaiting the results of these tests demonstrating that our Power Packs […]

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Ballard Sells Electric Drive Operations

Ballard Power Systems (TSX:BLD.TO; NASDAQ:BLDP) has signed an agreement to sell its electric drive operations to Siemens VDO Automotive Corporation. Electric drive operations are not core to Ballard’s fuel cell stack strategy; the technology has limited revenue potential but requires high cash consumption. The sale will generate proceeds of about US$4 million and will enable Ballard to reduce cash burn by US$10 million a year. The transaction is expected to close in January 2007. “This transaction, the result of an extensive strategic review process, is consistent with our focus on our core fuel cell stack business and our commitment to continue to improve Ballard’s financial performance,” said John Sheridan, Ballard’s President and CEO. “Siemens VDO is an excellent fit with the Dearborn electric drive operations. Together with our Alliance partners, DaimlerChrysler AG and Ford Motor Company, we look forward to working with Siemens VDO on next-generation fuel cell vehicle development programs.” With this transaction completed, along with the sale of its automotive system integration division in Germany in 2005, Ballard’s corporate structure and scope is now fully aligned with its core fuel cell stack strategy. “We are now solidly positioned to execute on our plans to grow value in the […]

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