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Global Compact De-Lists 335 Companies

As part of the general strategic drive towards elevating the integrity and accountability of the initiative, the Global Compact Office has removed 335 companies from its global list of participants. This step conforms to the Global Compact’s Integrity Measures which were first introduced in 2004 and endorsed in 2005 by the Secretary-General following a broad-ranging consultation process with all Global Compact participants and stakeholders. The Integrity Measures state that any company that has missed two consecutive annual deadlines to submit a Communication on Progress (COP) will be regarded “inactive” and marked accordingly on the Global Compact website. “This is an important step in our drive towards enhanced quality”, said Sir Mark Moody-Stuart, Chairman of Anglo-American plc, and Chair of the Foundation for the Global Compact. “While the Global Compact is a purely voluntary initiative, it is important to protect the investment that seriously committed companies and other stakeholders have made. This drive could ultimately lead to lower numbers of companies registered under the umbrella of the Global Compact; however, it is crucial that companies take seriously their commitment and demonstrate performance”. All companies participating in the Global Compact are expected to submit an annual COP, describing the ways in which […]

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SunPower Announces 2007 Silicon Supply Agreement With REC

SunPower Corporation (Nasdaq: SPWR), a Silicon Valley-based manufacturer of high-efficiency, solar cells and panels, announced it has signed a silicon ingot supply agreement for 2007 with REC SiTech AS. REC SiTech, a wholly owned subsidiary of Renewable Energy Corp. ASA (REC), is a leading supplier of monocrystalline ingots to the solar energy industry. For the year 2007, the contract calls for SunPower to purchase approximately $20 million of silicon ingots from REC SiTech. This contract builds on previous ingot supply agreements and purchase orders between the two companies. SunPower’s silicon supply for 2007 remains sufficient to produce 110 megawatts of cell production. “We are pleased to have finalized this 2007 ingot supply contract with REC SiTech, who we view as an important strategic partner,” said PM Pai, chief operating officer of SunPower. Website: [sorry this link is no longer available]     

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Pacific Ethanol Acquires 42% of Front Range Energy

Pacific Ethanol, Inc. (Nasdaq: PEIX) announced it would acquire a 42% minority interest in Front Range Energy, LLC, the owner of a 40 million gallon nameplate ethanol plant located in Windsor, Colorado. The Front Range facility is currently running at an annual production rate of 47 million gallons. The plant began full production in June 2006. When Front Range completed construction of the plant in June, they agreed Pacific Ethanol would market all of the output of the plant (fuel ethanol and wet distillers grain), procure the corn feedstock, and manage plant operations. As a part of Pacific Ethanol’s purchase of an ownership stake in Front Range, the parties have extended the term of the ethanol marketing agreement until June 9, 2013. Neil Koehler, President and CEO of Pacific Ethanol stated, “This transaction is immediately accretive to earnings and accelerates our goal to be the leading ethanol producer in the western US. Our acquisition of a stake in Front Range in effect adds approximately 20 million gallons to our annual operating production capacity. This represents a significant step in achieving our stated annual production capacity targets of 220 million gallons by the middle of 2008 and 420 million gallons by […]

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SunOpta Inc. Announces New Soymilk Contract

SunOpta Inc. (NASDAQ:STKL; TSX:SOY)has signed a three year exclusive contract to supply refrigerated packaged soymilk to a major global retailer. The contract will initially generate about $20 million in annual revenue – production is expected to begin in early November. The contract will be initially focused on the production of one SKU of refrigerated packaged organic soymilk for distribution and sale in the customer’s retail outlets in North America. SunOpta’s vertically integrated soymilk model is integrated from soybean sourcing through to consumer packaged products, ensuring its control of quality and organic certification and providing direct traceability from the farm gate to the retail shelf.

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Maxwell Files Patent Infringement Lawsuit

Maxwell Technologies, Inc. (Nasdaq: MXWL), a leading developer and manufacturer of ultracapacitor products, has filed a patent infringement lawsuit against Nesscap Co., an ultracapacitor manufacturer based in Korea. The lawsuit alleges that Nesscap’s ultracapacitors infringe Maxwell’s patented intellectual property. Maxwell is seeking monetary damages and an injunction to stop Nesscap’s sales of infringing products. Maxwell is represented in the lawsuit by Morrison & Foerster LLP. “Maxwell has invested millions of dollars and many years of research developing our ultracapacitor technology and securing patent protection for those innovations,” said Dr. Richard Balanson, Maxwell’s president and chief executive officer. “Nesscap has shown by its conduct that it will attempt to gain market share with customers that have been converted to the use of ultracapacitors by Maxwell’s innovative technology, and, in the process, infringe our intellectual property. We have examined Nesscap’s ultracapacitors and determined that they infringe our intellectual property, and are therefore vigorously enforcing our legal rights to protect our investment.” Website: http://www.maxwell.com     

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Hoku Scientific Contracts With Spire for Solar Supply

Hoku Solar, a division of Hoku Scientific, Inc. (NASDAQ:HOKU) that is planning to manufacture and sell polysilicon-based photovoltaic (PV) modules, signed a contract with Spire Corporation (NASDAQ:SPIR), a U.S. solar equipment manufacturer, for the purchase of a PV module production line for approximately $2 million. The production line will enable Hoku to manufacture up to 15 megawatts (MW) of PV modules each year and is scheduled to be delivered in the first half of calendar year 2007. Hoku intends to eventually increase its module production capacity to 30 MW per year. Hoku also signed a contract to its first solar solar cells – they will be manufactured in Taiwan for approximately $2.8 million and will be delivered later this year. Hoku expects to use the cells in its initial module product line in the first half of calendar year 2007. Solar cells are in very high demand today due to the shortage of polysilicon, the key raw material used in the manufacture of these cells. Hoku is currently in discussions with a number of the world’s leading manufacturers of solar cells for future supply of polysilicon from its Hoku Materials division. About Hoku Scientific, Inc. Hoku Scientific develops and manufactures […]

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Travelers to Offer Discount on Hybrid Car Insurance

Travelers Insurance announced that California hybrid owners can now receive a 10 percent discount on auto insurance. Commonly known as an eco-conscious state, Californians registered 52,619 new hybrid vehicles in 2005. At a distant second, Florida registered 10,470 hybrids, followed by Texas, New York and Virginia. Los Angeles tops the list of hybrid-driving cities with 22,922 new hybrid cars registered, followed by San Francisco with 15,828. New York, Washington D.C. and Boston complete the top five. “California has long been a trendsetting state whose example the rest of the nation often follows, and Californians have embraced the hybrid car in a big way,” said Greg Toczydlowski, senior vice president of product management for Travelers. “We salute this spirit of forward-looking innovation and will continue to develop products and services that evolve to fit the changing needs of our California customers.” At www.hybridtravelers.com visitors can review up-to-date information on federal and state tax benefits for hybrid drivers and enjoy other community incentives, such as discounted or free parking, and can share their stories as “hybrid travelers.” For fun, the site features the Early Adopt-o-meter, which ranks visitors’ penchants for embracing new technologies. Visitors can also access an agent locator and obtain […]

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