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EMCORE Completes $16M Division Sale to IQE

EMCORE Corporation (Nasdaq: EMKR) has completed the sale of the Company’s Electronic Materials & Device division (EMD) to a wholly owned subsidiary of IQE, plc (IQE) as previously announced on July 19, 2006. IQE, headquartered in Cardiff, Wales with United States operations in Bethlehem, Pa., purchased certain of the assets including inventory, fixed assets, and intellectual property of EMD for a total transaction value of $16 million. The Company received $13 million at closing and $3 million in the form of a secured promissory note of IQE that will be repaid in four quarterly installments and bears interest at an annual rate of 7.5%. The Company anticipates a gain on the disposition in the range of $9 to $11 million. IQE was formed in May 1999 by the merger of two epitaxial wafer companies supplying electronic and optoelectronic materials produced using MOCVD (metal organic chemical vapor deposition) and MBE (molecular beam epitaxy) equipment platforms. EMD utilizes MOCVD technology developed by EMCORE to produce both GaAs and GaN based transistor wafers for use in power amplifiers and switches in GSM, CDMA multiband wireless handsets, Wi-MAX, Wi-Fi, cellular handsets, and in wireless LAN applications. IQE will continue to operate EMD in the […]

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FuelCell Sells 2 Power Plants to Gills

Gills Onions, the largest year-round grower and processor of fresh-cut onions, has purchased two Direct FuelCell® 300 MA (DFC®) power plants from FuelCell Energy, Inc. This purchase will reduce the company’s energy costs by using biogas created from onion peel waste products to generate electricity, while also lowering its waste disposal expenses. Steven and David Gill, owners of Gills Onions and fourth generation farmers, have achieved tremendous efficiencies by using technology to streamline the process of cleaning, cutting, packaging and selling fresh produce. Now Steven has focused his attention on boosting the company’s energy reliability and efficiency while decreasing energy costs by installing two 250-kilowatt (kW) DFC units that are expected to be operational in mid-2007. By using renewable biogas generated by digesting onion peels and other fresh produce waste, Gills Onions will reduce fuel and waste disposal costs resulting in significant annual savings. Currently the company disposes of its solid onion waste in composting fields–an expensive use the company’s valuable land. Other onion refuse historically has been disposed as sewage and required Gills Onions to pay for the volume of its total dissolvable solids. “Gills Onions and FuelCell Energy are providing a truly innovative solution for the fresh-cut industry’s […]

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California Governor Signs Million Solar Roofs Plan

Governor Schwarzenegger signed SB 1 by Senator Kevin Murray (D-Los Angeles) yesterday, putting the finishing touches on the Governor’s Million Solar Roofs Plan. “When I ran for governor, I vowed to make the environment the centerpiece of my administration and turn back the clock on pollution,” said Gov. Schwarzenegger. “My Million Solar Roofs Plan will provide 3,000 megawatts of additional clean energy and reduce the output of greenhouse gasses by 3 million tons which is like taking one million cars off the road. I want to thank Sen. Kevin Murray for his hard work in helping me make California the leader on solar power again.” Last year, the Governor asked the California Public Utilities Commission (CPUC) to implement his Million Solar Roofs plan. Dubbed the California Solar Initiative by the CPUC, the plan will lead to one million solar roofs in California by 2018. Specifically, SB 1 implements the portions of the Million Solar Roofs plan that the CPUC does not have the authority to mandate, including: · Expanding the Program: The current implementation of the Million Solar Roofs plan only applies to customers of Pacific Gas and Electric, Southern California Edison and San Diego Gas and Electric. SB 1 […]

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Safe Climate Act of 2006 Up to 68 Bipartisan Cosponsors

The Safe Climate Act of 2006 (H.R. 5642), introduced by Rep. Waxman (D-CA) on June 20, now has 68 cosponsors, including two Republicans, Reps. Leach (R-IA) and Weldon (R-PA). The bill calls for a mandatory market-based cap and trade system in an effort to prevent average global temperatures from not increasing above 2C (3.6F) above the preindustrial average; that global atmospheric concentrations of carbon dioxide (CO2) equivalent do not exceed 450 parts per million; and that US CO2 equivalent emissions are reduced by 80 percent from 1990 levels by 2050. Summary of the Bill The Safe Climate Act of 2006 (H.R. 5642) sets targets and requires the actions that will be necessary to avoid dangerous, irreversible warming of our planet. Science tells us that we face a grave risk of irreversible and devastating global warming if global temperatures increase by more than 3.6F. The bill sets greenhouse gas emissions targets that aim to keep temperatures below the danger point. The level of emissions is frozen in 2010 and then gradually reduced each year through 2050. The bill achieves these targets through a flexible economy-wide cap-and-trade program for greenhouse gas emissions, along with measures to advance technology and reduce emissions through […]

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Vermont's Solar Forecast – Sunny

URL: http://www.timesargus.com/apps/pbcs.dll/article?AID=/20060820/NEWS/608200385/1002 Website: http://www.timesargus.com/apps/pbcs.dll/article?AID=/20060820/NEWS/608200385/1002     

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