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American Superconductor Wins Navy Contract

American Superconductor Corporation (NASDAQ:AMSC) has has signed a cost-plus-fee contract valued at $5.3 million with the US Navy’s Naval Sea Systems Command for the design and optimization of high temperature superconductor (HTS) ship propulsion motors and power electronic drives. American Superconductor is currently performing final assembly and component testing of its 36.5-MW HTS propulsion motor for the Office of Naval Research at a Northrop Grumman Marine Systems facility within the Philadelphia Naval Business Center. The motor weighs approximately 75 tons and is one-half the size and one-third the weight of traditional copper-based propulsion systems. Factory testing is expected to be completed prior to the Navy taking possession of the motor around the end of calendar 2006. The company anticipates that the new contract award will be the first in a series of contracts with the U.S. Navy that, when carried forward, will yield a militarized class standard HTS production propulsion motor suitable for U.S. and allied navy warships. “This first in what we are confident will be a series of contracts from the United States Navy, will enable us to continue optimizing HTS motors and power electronic drives for use in future surface combatants as well as other classes of […]

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Plug Power Reports Q3 Results

Plug Power Inc. (Nasdaq: PLUG), a manufacturer of on-site fuel cell energy products, reported financial results for the quarter ended September 30, 2006. Revenue was down sharply from $3.9 million in Q3 2005 to $1.8 million for this quarter. Year-to-date total revenue is $6.8 million, compared to $10.8 million in the prior year period. The Company continues to defer product and service revenue, a component of total revenue, at the time of sale and amortize that revenue over the period of the underlying service and other contractual obligations. Deferred revenue was $3.2 million at September 30, 2006, compared to $3.1 million at December 31, 2005. Research and development expenses were $11.6 million for the third quarter of 2006 compared to $9.5 million during the same quarter in 2005. Year-to-date R&D expenses were $30.6 million for the nine months ended September 30, 2006, compared to $27.1 million for the nine months ended September 30, 2005. Net loss for the quarter ended September 30, 2006, was $11.9 million, or $0.14 per share, compared to $11.9 million, or $0.15 per share, for the same period in 2005. Year-to-date net loss was $37.0 million, or $0.43 per share, compared to $35.3 million or $0.47 […]

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New Computer Efficiency Requirements Announced

The U.S. Environmental Protection Agency (EPA) has announced new, more stringent Energy Star standards for computers and related equipment. The standards will save over $1.8 billion in energy costs over the next 5 years and prevent greenhouse gas emissions equal to the annual emissions of 2.7 million cars. Only the most energy-efficient computer related equipment will now earn the Energy Star label, representing the top of their class. The new requirements include improved efficiency across all modes of a computer’s operation, and require use of highly efficient internal and external power supplies. They go into effect on July 20, 2007. On average, Energy Star qualifying computer equipment will be 65 percent more efficient than conventional models. Computers were the first product to qualify for EPA’s Energy Star in 1992. The United States now has more 180 million computers in use; they consume nearly 58 billion kWh per year, or about 2 percent of annual U.S. electricity consumption. Intel announced it will work jointly with the EPA to provide energy efficiency design expertise to smaller system vendors, to help them meet the specifications. Energy Star specification for computers: Website: http://www.energystar.gov/index.cfm?c=revisions.computer_spec     

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$85M Solar Module Supply Agreement Signed

Global Solar Energy has signed an $85 million supply agreement for SOLON P220 Crystalline Silicon Solar Panels with American Capital Energy, Inc. a national commercial solar power integrator. This is the launch of SOLON’s products in the U.S. “With SOLON’s P220 6+ Crystalline Silicon Solar Panels we’ll deliver powerful solar systems that make it even easier to go solar,” said Tom Hunton, executive vice president of American Capital Energy. “Great features such as high energy yield, strong construction, and industry leading power tolerance make these modules an optimal choice for customers who expect the best”. “American Capital Energy is a commercial integrator we can count on for the high quality installations and superior service after the sale,” said Tim Westover, vice president of Global Solar Energy, a SOLON company. “We are very pleased, but not surprised that American Capital Energy has selected SOLON and GSIS as a strategic supplier”. Global Solar Energy, Inc. was established in 1996. It is privately owned by a German investor and SOLON AG a German company involved in renewable energy markets. Global Solar’s Integrated Systems business unit supplies large-scale, turnkey PV Power Stations and SOLON’s standard product modules and the SOLON Mover dual axis tracking […]

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North American Venture Investment Tops $933M in Q3

Venture capital invested in cleantech North American companies grew to a record $933 million in the third quarter – the 9th quarter of consecutive growth, according to the Cleantech Venture Network. The energy segment led the way with $837 million, a 41% increase over the $594 million invested in Q2 2006. The $933 million invested in all cleantech segments during Q3 2006 represented a 10.8% increase over the $843 million invested in Q2 2006 and a 120% increase over $425 million in Q3 2005. Energy investment accounted for $1.78 billion, more than tripling the $560 million invested in the first three quarters of 2005. Of the $837 million invested in energy in the third quarter, $512 million was in biofuels and $69 million in solar. Year-to-date cleantech investments totaled $2.29 billion, double the $1.1 billion invested in the first three quarters of 2005. To date, 2006 cleantech investing has already surpassed the total of $1.6 billion for all of 2005.

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