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BP and GE to Jointly Develop Hydrogen Technologies

Today, BP and GE announced their intention to jointly develop and deploy hydrogen power projects. Vivienne Cox, BP’s Chief Executive of Gas, Power and Renewables, and David L. Calhoun, Vice Chairman of GE and president and CEO of GE Infrastructure, signed the agreement today in London. “The combination of our two companies’ skills and resources in this area is formidable, and is the latest example of our intent to make a real difference in the face of the challenge of climate change,” said BP’s Vivienne Cox. “BP and GE’s strategic approaches to developing increasingly cleaner, lower carbon power options are closely aligned and our skills and strengths are highly complementary.” “Tomorrow’s energy mix will include hydrogen – and GE and BP are taking the lead in ensuring progress begins today,” said David Calhoun of GE. “This initiative will demonstrate that our companies’ leading-edge technologies can make hydrogen production efficient, reliable, and economical for large-scale, commercial power production. Our financial strength will ensure it happens now globally, changing the way we envision our energy future.” BP has already announced plans for two such hydrogen power projects with carbon capture and sequestration in Scotland and California, both of which will use GE […]

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Plug Power Systems to be Deployed in Venezuela

Telefonica Moviles, one of the two largest wireless providers in Latin America, has announced that it will begin deploying Plug Power’s GenCore backup power systems in Venezuela. The initial deployment includes nine backup fuel cell systems that were purchased through Plug Power’s Venezuelan distributor, Corpo Teletecnical. The systems will be placed at tower locations with critical backup needs in the greater Caracas area. This new deployment follows the completion of a successful eight-month trial at an active Telefonica Moviles wireless location outside of Caracas. The GenCore system responded effectively to several grid outages during the trial period, including one that lasted approximately 12 hours, providing power and maintaining tower operation when the AC grid failed due to overloading and weather-related factors. Telefonica Moviles has approximately 700 towers in Venezuela and more than 10,000 sites across Central and South America. Richard Croce, Energy Manager of Telefonica Moviles in Venezuela identifies candidate sites for GenCore use as those where there is insufficient space for additional batteries or a generator, or where generators are prohibited due to noise or pollution issues or weight restrictions. Additional opportunities are expected to emerge as Telefonica Moviles continues to identify sites where traditional backup infrastructure frequently fails […]

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Wainwright Bank Reports 2Q Results

Wainwright Bank & Trust Company reported 2006 second quarter consolidated net income of $1,708,000 and diluted earnings per share of $.21 ($.22 per basic share). This report compares to consolidated net income of $1,847,000 and diluted earnings per share of $.21 ($.23 per basic share) for the quarter ended June 30, 2005. Jan A. Miller, President and CEO stated, “We are pleased with our performance in the first two quarters of 2006. The $3.4 million in net income represents a record level for Wainwright for the first six months of the year. Although we have experienced some recent loan payoffs, overall our loan portfolio has continued its solid growth in a highly competitive market over the past twelve months.” Consolidated net income for the six months ended June 30, 2006 is $3,393,000, slightly higher than the previous six-month record earnings of $3,371,000 for the same prior year period. Diluted earnings per share were $.41 for the six months ended June 30, 2006 ($.44 per basic share) compared to diluted earnings per share of $.39 for the six months ended June 30, 2005 ($.42 per basic share). The EPS amounts reflect the impact of stock repurchases made during the last twelve […]

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