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Evergreen Solar Lands $88M Contract

Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of solar power products, has entered into a multi-year supply contract with Global Resource Options, Inc. (GRO), a Vermont-based solar power distributor and system integrator. The agreement calls for Evergreen Solar to ship approximately $88 million of photovoltaic modules to GRO over the next four years. “GRO is a great addition to Evergreen Solar’s growing list of high-volume distributor and system integrator customers,” said Richard M. Feldt, President and Chief Executive Officer of Evergreen Solar. “GRO has firmly established its presence in the Northeast region and is expanding into adjacent markets. We see them as a key partner in our effort to grow and maximize our penetration of the U.S. market.” Jeff Wolfe, Chief Executive Officer of GRO, said the contract would assist the company in executing its business strategy of maintaining consistent and reliable supplies of solar products to residential and small commercial customers throughout the region. “We are thrilled to partner with Evergreen Solar, with its proprietary String Ribbon technology and rapidly expanding manufacturing capability,” Wolfe said. “Our relationship with Evergreen ensures that as the market for solar continues to expand, GRO will continue to grow with it. GRO customers can […]

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WorldWater & Power and NAI Global Sign Agreement

WorldWater & Power Corp. (OTC BB:WWAT.OB), developer and marketer of proprietary high-power solar systems, and New America Network, Inc., d/b/a NAI Global, Inc., an international commercial real estate service firm, have signed an agreement to introduce WorldWater & Power’s solar energy and technology to the NAI Global network of commercial property managers and clients. According to the terms of the agreement, NAI will help to identify prospects for the purchase of equipment, electric power or services from WorldWater & Power. In addition, NAI may assist in negotiating such purchases and in obtaining governmental approvals necessary for the construction of projects designed by WorldWater & Power that NAI has been instrumental in arranging. “Our collaboration with NAI has the potential of being very beneficial for both firms,” said Quentin T. Kelly, Chairman of WorldWater & Power. “NAI has access to commercial properties throughout the United States and around the world, and they strongly believe in the use of solar energy on those properties.” Gerald C. Finn, Chairman, Founder and CEO of NAI Global, shares Mr. Kelly’s enthusiasm. “We see this as an exciting opportunity for NAI,” said Mr. Finn. “The solar powered systems designed by WorldWater & Power can provide significant […]

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United Natural Foods Profit Up

United Natural Foods, Inc. (Nasdaq: UNFI) has reported net income of $10.8 million, or $0.26 per diluted share, excluding special items, for the second quarter of fiscal 2006, ended January 28, 2006. Net income for the second quarter of fiscal 2006, including the effect of special items, was $10.6 million, or $0.25 per diluted share. The Company reported revenues for the second quarter of fiscal 2006 of $601.1 million, an increase of $96.4 million, or 19%, from the $504.7 million recorded in the second quarter of fiscal 2005. The Company stated that strong growth across all major sales channels of the wholesale segment contributed to the record sales. In December 2004, the Financial Accounting Standards Board finalized FAS 123R, which requires all companies to expense share-based payments, including stock options, at fair value as of the beginning of the first annual reporting period that begins after June 15, 2005. As such, the Company began expensing stock options on August 1, 2005. The Company has adopted the modified prospective method allowed under FAS 123R. The charge to earnings during fiscal 2006 includes the impact of the vesting of stock options granted in prior years, because the expense is recognized over the […]

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US National Landmarks to Run on 100% Renewable Energy

Pepco Energy Services (NYSE:POM), a supplier of renewable electricity in the mid-Atlantic region, has been awarded a contract by the U.S. General Services Administration (GSA) to supply renewable power to the Statue of Liberty, Ellis Island, operated by the National Park Service, and several other GSA owned and operated federal facilities in northern New Jersey. The three year contract calls for Pepco Energy Services to supply an estimated 27 million kilowatt hours (kWh) of electricity generated from 100% renewable resources to the Statue of Liberty on Liberty Island and the Ellis Island Immigration Museum on Ellis Island. Windmills will generate the energy. Under the terms of the contract, beginning in March 2006, Pepco Energy Services will also be supplying energy to GSA’s flagship federal facility in Newark, New Jersey, the Peter Rodino Federal Building. In June 2006 Pepco Energy Services will begin selling power to the remaining 22 GSA owned and operated facilities in the Northeast and Caribbean Region (Region 2), located in Northern and Central New Jersey. Ten percent of this energy for GSA’s facilities will be from renewable energy sources. “Pepco Energy Services feels patriotic and proud to support the National Park Service and the General Services Administration […]

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