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Ford To Build Flexible Fuel Engine Plant In The Philippines

Ford Motor Co. announced it is building a US$20 million flexible fuel plant in the Philippines. It expects to produce 100,000 engines over the next 5 years valued at US$100 million. A first for Ford in the region, the flexible fuel engines will be designed to operate on either conventional gasoline or a combination of gasoline and bio-ethanol fuels. Full production is expected to begin before the end of 2006. The Philippines government’s alternative fuel program aims to reduce dependence on imported conventional fuel and promote a cleaner environment while potentially spurring agro-industrial investment in rural areas through the production of bio-ethanol fuel. The engines from the Philippine plant will be used in the production of Flexible Fuel vehicles (FFVs). Currently, Ford Motor Company has more than one million ethanol-powered cars and trucks on the road. In North America, four new vehicles are planned for 2006 that will largely run on ethanol, increasing the production of FFVs in 2006 to as much as 250,000 units. Website: http://www.ford.com.ph     

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Carmanah Awarded $1M Contract for Canada's Largest Solar Power System

Carmanah Technologies Corporation (CMH.V) announced it has received a letter of intent confirming a forth-coming contract in the amount of $1,000,196 from the City of Toronto for a 100 kW solar power system to be installed on the roof of the Horse Palace at Exhibition Place. Located ten minutes from downtown Toronto, along the shores of Lake Ontario, Exhibition Place holds grand-scale world-class events on its 192 acres of parkland including the annual Canadian National Exhibition, the Molson INDY, the Caribana Parade, the Royal Agricultural Winter Fair and World Youth Day. Annually, Exhibition Place welcomes 5.2 million visitors to the site. Said Art Aylesworth, Carmanah’s CEO, “This project represents the first RFP response by the merged forces of Carmanah and Soltek Powersource Ltd., and is indicative of the synergies created through the Soltek acquisition.” Carmanah will install a state-of-the-art 100 kW solar power system on Exhibition Place that is tied to the conventional electricity grid. The system uses high efficiency solar modules and a unique penetrationless racking system. An educational display in the lobby will show the public how much power is being produced, environmental conditions as well as historical system performance data. It is estimated this system will reduce […]

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WorldWater Signs $1.1M Contract

WorldWater & Power Corp. (OTC BB: WWAT), developer of proprietary high-powered solar energy systems, announced it signed a $1,145,800 contract to build and install a solar electric power generation system for Quality Embroidery in Los Angeles, California. The photovoltaic (PV) system will provide electricity for the company, and is expected to substantially reduce electrical usage costs for the facility. With the signing of this contract, on top of its earlier announced 2005 contract backlog of $23 million, the Company issued Revenue Guidance for 2006, projecting Revenue of $25 million to $35 million. For Quality Embroidery, WorldWater & Power Corp. plans rooftop and carport installation of the PV panels that will power the system. Plans call for construction of the carport and installation of the systems by GJ Electric of Los Angeles. The project will be managed and supervised by Quantum Energy Group, the California engineering, construction and project management firm acquired by WorldWater & Power Corp. earlier this year. The contract is subject to approval of financing and the utility rebate application, following which construction is expected to begin immediately. Website: [sorry this link is no longer available]     

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Creststreet Power & Income Fund Invests Kettles Hill Wind Energy

Creststreet Power & Income Fund LP has committed to fund up to $31 million in Kettles Hill Wind Energy Inc. via an investment in subordinate notes. Kettles Hill also closed a senior secured credit facility with a Canadian financial institution for up to $42.5 million. As a result, all financing requirements to fund the balance of the 63 megawatt Kettles Hill windpower project to completion have been committed. Crest Street will invest in Kettles Hill via a subordinated debt facility at the time of the IPO of Creststreet Kettles Hill Windpower LP (“KHLP”) in June 2005. Eric McFadden, CEO of the General Partner of the Partnership, stated “This investment in Kettles Hill provides Unitholders with an opportunity to participate in a world class windpower project. The Unitholders remain well insulated from any construction risk associated with the Kettles Hill project with over $25 million of common equity sitting below their investment and have a priority claim on the project’s cashflows upon completion. In addition, this solidifies the Partnership’s ability to compete in the expected auction to acquire Creststreet Kettles Hill Windpower LP at completion in the fall of 2006.” The windpower project at Kettles Hill is situated near Pincher Creek, […]

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Spectrum Organic Products Acquired by The Hain Celestial Group

The Spectrum Organic Products, Inc. (OTCBB:SPOP) merger with The Hain Celestial Group, Inc. was completed on December 16, 2005. Under the terms of the merger, Spectrum shareholders will receive $0.7035 per share, after deducting for excess company expenses, consisting of $0.3485 per share in cash and $0.355 per share in Hain Celestial shares, which is based on valuing the Hain shares at $19.80 per share, as provided in the merger agreement. The Spectrum merger will increase the amount of Hain Celestial shares outstanding by approximately 924,459 shares. Spectrum conducted a Special Meeting of Shareholders to approve the principal terms of the merger on December 15, 2005. The total number of shares voted was 42,680,465 out of 46,444,693 shares outstanding as of the record date. The final voting results were 42,485,652 votes for the merger, 133,723 against, and 61,090 shares abstaining. “Spectrum strengthens our position in the natural and organic sector with the addition of Spectrum Naturals and Spectrum Essentials, as healthy oils are featured in the new food pyramid and USDA Dietary Guidelines” said Irwin D. Simon, President and Chief Executive Officer of Hain Celestial. “We look forward to integrating Spectrum into our portfolio of brands in the Grocery and […]

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