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Suntech Announces Module Supply Deal

Suntech Power Holdings Co., Ltd. (NYSE: STP), a leading photovoltaic cells and module manufacturer, based in China, announced a multi-year contract to supply solar modules to a division of Sun Edison, LLC, North America’s largest solar energy service provider. The total value of the contract ranges from approximately $50 million to $90 million over the term of the contract. The contract is structured in a similar manner as Suntech’s long-term silicon supply agreement in order to enhance steady operating results. The United States has become one of the fastest growing markets for photovoltaic products due to recent initiatives by a number of states to promote the use of renewable energy sources. The California Solar Initiative, which aims to increase the amount of installed solar capacity on rooftops in the state by 3,000MW by 2017, is one of the most progressive. It is anticipated that the solar modules shipped under this contract will be used primarily in the California market. “This new relationship with SunEdison presents a strong step forward in our penetration of the rapidly growing U.S. solar market and our ongoing strategy to diversify our sales geographies,” said Dr. Zhengrong Shi, Suntech’s Chairman and CEO. “This multi-year supply contract […]

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Zoltek to Challenge Jury Verdicts

Carbon fiber maker Zoltek Companies, Inc. (Nasdaq: ZOLT) reported that it will challenge the verdicts handed down by a St. Louis jury in a lawsuit. The jury found that Zoltek breached its obligations under a supply agreement for carbon fiber, and ruled in favor of the plaintiffs on one count of damages of $21 million and on a second count of $15 million. Zoltek said it believes it has “strong legal grounds” to overturn these verdicts and will file post-trial motions challenging the decisions. Carbon fibers are used in aircraft brakes and sporting goods and have also become important in the manufacture of wind turbine blades.

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WorldWater & EMCORE Announce Strategic Partnership

WorldWater & Power Corp. (WWAT.OB), developer of proprietary solar water pumping systems, announced that EMCORE Corp. will purchase 26.5% on a fully diluted basis of WorldWater for $18 million in cash. In return, EMCORE will receive convertible preferred stock and warrants of WorldWater. They also announced the formation of a strategic alliance and supply agreement under which EMCORE is the exclusive supplier of high-efficiency multi-junction solar cells, assemblies and concentrator subsystems to WorldWater with a contract valued at up to $100 million over the next 3 years. On November 29, 2006, EMCORE invested $13.5 million in WorldWater, representing the first tranche of its $18 million investment. The investment of the remaining $4.5 million second tranche will occur once the definitive strategic agreement is signed and certain other conditions are met. The parties expect the execution of the definitive strategic agreement and second closing to occur before the end of the year. In connection with the investment, EMCORE will also gain two seats on WorldWater’s Board of Directors. “This strategic investment represents a shift in EMCORE’s terrestrial photovoltaic strategy by becoming, with WorldWater, a solution provider rather than just a component supplier. This investment will add strategic strength to both of […]

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Endesa Signs Module Supply Agreement with Isofoton

ENDESA (NYSE:ELE)has signed a collaboration agreement with Isofoton which ensures that ENDESA will have access to the equipment it needs to develop solar plants between now and 2011. The partners will work together on several demonstration concentrating photovoltaic technology (CPV) projects, based on gallium arsenide. The material is used to collect and focus sunlight on a series of lenses, creating more energy on a smaller surface area. They also have agreed to construct Silicio Energia, a polysilicon plant, in southern Spain, to guarantee project supplies. Construction on Silicio Energia will begin in the next few months and should be operating in 2009, with ENDESA supplying the power. The agreement also provides for collaboration on several projects designed to demonstrate concentrating photovoltaic technology (CPV), which will facilitate subsequent commercialisation.

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O2Diesel Closes Private Placement

O2Diesel Corporation (AMEX:OTD) has closed a $1 million private placement with Singapore-based Energenics Holdings Pte Ltd. In September, the parties entered into a five year agreement for the supply of O2Diesel’s proprietary fuel technology. Energenics will brand the technology “EnerDiesel — Powered by O2Diesel,” in Asia Pacific & South Africa. “We are looking forward to working with Energenics to develop this exciting market for O2Diesel. The Asia Pacific & South Africa is an extremely important bioenergy market and partnering with Energenics is a major strategic development for O2Diesel Corporation,” commented Alan Rae, Chief Executive Officer of O2Diesel Corporation. O2Diesel provides a cleaner-burning diesel fuel alternative for centrally fueled fleets and off-road equipment. It is an ethanol-diesel blend that substantially reduces emissions without sacrificing power and performance. Website: [sorry this link is no longer available]     

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