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ECD Ovonics Announces Pricing of Equity Offering

Energy Conversion Devices, Inc. (ECD Ovonics) (NASDAQ:ENER) has priced its equity offering of 7,000,000 shares of common stock, including 6,616,928 shares to be sold by the company and 383,072 shares to be sold by certain directors and officers, at a price of $49.00 per share under an effective shelf registration statement previously filed with the Securities and Exchange Commission. The offering was increased by 850,000 shares over the proposed offering announced February 15, 2006. The Company will receive gross proceeds of approximately $324.2 million, before underwriting discounts and commissions and expenses payable by the Company, from the sale of the 6,616,928 shares of common stock. In connection with this offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its common stock to cover over-allotments, if any. The Company expects the issuance and delivery of the shares to occur on March 7, 2006. The Company intends to use in the near term approximately $150 million of the net proceeds from this offering to expand the solar module production capacity of its wholly owned subsidiary, United Solar Ovonic, through the construction of a third manufacturing facility with an annual capacity of at […]

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Worldwater to Provide System for New Jersey College

WorldWater & Power Corp. (OTCBB:WWAT.OB) has signed an agreement to install a solar electric power system on the campus of Richard Stockton College of New Jersey in Pomona. The project involves the installation of the photovoltaic system on the roof of a new building that houses faculty offices and academic space. The project is a collaborative effort between WorldWater & Power Corp. and Eastern Energy Services of Southampton, N.J. WorldWater & Power will provide engineering, materials and equipment required to complete the project in accordance with the proposal. Installation contracting services for the project, including permitting and the preparation of plans and drawings related to permitting and construction, will be provided by Eastern Energy Services under contract to the College. A rebate application for the project has been filed with the Customer Onsite Renewable Energy (CORE) program of the New Jersey Board of Public Utilities (NJBPU). Construction is expected to begin in four weeks. Website: [sorry this link is no longer available]     

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Ballard Secures US$8.3M Bus Service Contract

Ballard Power Systems has secured an US$8.3 million contract to service 27 Ballard powered Mercedes-Benz Citaro fuel cell buses that will run on European roads this year as a one-year extension to the CUTE (Clean Urban Transport for Europe) / ECTOS (Ecological City Transport System) Project, the two-year fuel cell bus demonstration that began in late 2003. “The success of the CUTE / ECTOS demonstration is a testament to the importance of having strong partnerships,” said Noordin Nanji, Ballard’s Vice President, Marketing & Business Development. “CUTE / ECTOS, and the one-year extension, is a collaboration among a diverse group, including DaimlerChrysler, Ballard, energy companies and fuel providers, transit agencies and all levels of government across a number of countries. Together, these organizations are working together to demonstrate a sustainable mass transportation solution, showing that there is an alternative to the incumbent technologies that power transit fleets around the world today.” Cities participating in the contract extension are Amsterdam, Barcelona, London, Luxemburg, Madrid, and Reykjavik. Each of these cities will continue to run three buses each. Hamburg will also participate, increasing its fleet size from three to nine and making it the world’s largest fuel cell bus fleet being operated by […]

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REC Posts Surge in Q4 Profits

URL: http://www.planetark.com/dailynewsstory.cfm/newsid/35418/story.htm Website: http://www.planetark.com/dailynewsstory.cfm/newsid/35418/story.htm     

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