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Metabolix Prices IPO

Metabolix, Inc. (NASDAQ: MBLX), announced its initial public offering of 6,800,000 shares of Common Stock will be priced at $14.00 per share. The offering will be on Nasdaq under the ticker MBLX. Net proceeds will be used to invest in equipment for pilot manufacturing and commercial formulation of Natural Plastic and for working capital, including pre-commercial manufacturing and marketing activities, for switchgrass biorefinery program research and development, for hiring of additional personnel, for other research and development and for general corporate purposes. Piper Jaffray & Co. is acting as the book-running manager for the offering. Jefferies & Company, Thomas Weisel Partners LLC and Ardour Capital Investments, LLC are serving as co-managers. Founded in 1992, Metabolix, Inc. is developing and commercializing biodegradable Natural Plastic as a clean alternative to petroleum-based plastics. The Company is taking a systems approach, from gene to end product, to integrate sophisticated biotechnology with current industrial practice to produce plastics, fuels and chemicals from renewable resources. In addition to its microbial fermentation platform for production of Natural Plastic, Metabolix is also developing a proprietary platform technology for co-producing, in non-food plant crops such as switchgrass, Natural Plastic and biomass for biofuels such as ethanol and for chemical […]

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Energy Conversion Devices Reports Financial Results

Energy Conversion Devices, Inc. (ECD Ovonics) (Nasdaq: ENER) reported results for the first quarter ended September 30, 2006. The company reported lower net losses: $2.3 million (or $0.06 per share) on revenues of $27.2 million for Q1 as compared to $6.5 million (or $0.22 per share) on revenues of $23.2 million for Q1 06. “We are building on the momentum from last year and beginning our 2007 fiscal year with a solid first quarter of improved performance,” said Chairman and CEO Robert C. Stempel. “Our new manufacturing capacity is coming online at just the right time for growing demand in our United Solar Ovonic segment, and increasing commercial acceptance of products in our Cobasys and Ovonyx joint ventures presents exciting opportunities.” Highlights include * Subsidiary United Solar Ovonic had operating income of $1.5 million on revenues of $23.9 million, down from $1.7 million on revenues of $19.4 million for Q1 06. Gross profit margin rose from 20-24%. * A 1MW array on a General Motors’ parts warehouse in Rancho Cucamonga, Calif. was privately financed under a long-term power purchase agreement with GM. The installation is expected to provide up to half of the building’s electricity. * United Solar Ovonic currently […]

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Capstone Announces Financial Results

Capstone Turbine Corporation (Nasdaq:CPST) reported results for its second quarter ended September 30, 2006. Revenue declined 48% to $2.9 million from the same quarter 2005, and 55% from the previous quarter. Although it received $2.5 million in new orders, sales to the European and Russian markets declined by $2.3 million from the first quarter. Overall order backlog stands at $6.8 million, an increase of over 26% from the prior quarter, although decreased over 45% from the end of the prior year comparable quarter. In October, after the close of the second quarter, Capstone received an order for 1.6 megawatts ($1.4 million) from a major OEM customer. “We are pleased with the traction we have experienced in Europe and Russia over the past year, despite lower sales this quarter. John Fink, our Executive Vice President, Sales and Service, is continuing to build momentum with our relationships in the New York market. We have increased our commitment to the New York market by expanding our lease to build out sales and service offices, warehousing, manufacturing and light component assembly work in Brooklyn,” said Mark Gilbreth, Capstone’s Interim President and CEO. The reported gross loss for the second quarter was $2.3 million, or […]

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Boulder Passes Carbon Tax

Voters in Boulder, Colorado passed Ballot Issue 202, with 57.5% saying yes to a “carbon tax.” Xcel Energy electricity customers in Boulder will soon find a “carbon tax” on electric bills, with the proceeds to fund Climate Action Plan (CAP)programs. Proposed CAP programs will reduce greenhouse gas emissions while helping Boulder residents and businesses save money through reduced energy costs. CAP plans, for example, to help businesses obtain Xcel rebates for purchases of energy-efficient equipment and conduct energy audits to help people understand how they can save energy. In Carbondale, CO., 81% of voters approved a measure to allow the town to issue up to $1.8 million in Clean Renewable Energy Bonds to build and operate two large-scale solar systems.

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