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BP Forms BP Alternative Energy

BP today announced that it plans to double its investment in alternative and renewable energies to create a new low-carbon power business with the growth potential to deliver revenues of around $6 billion a year within the next decade. Building on the success of BP Solar — which expects to hit revenues of $1 billion in 2008 — BP Alternative Energy will manage an investment program in solar, wind, hydrogen and combined-cycle-gas-turbine (CCGT) power generation, which could amount to $8 billion over the next ten years. “Consistent with our strategy, we are determined to add to the choice of available energies for a world concerned about the environment, and we believe we can do so in a way that will yield robust returns,” said BP chief executive Lord Browne. “Our recent experience, particularly with solar, has given us the expertise and confidence to develop new products and markets alongside our mainstream business. We are now at a point where we have sufficient new technologies and sound commercial opportunities within our reach to build a significant and sustainable business in alternative and renewable energy.” Browne said the first phase of investment would total some $1.8 billion over the next three years, […]

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GreenShift Invests in Air Cycle Corporation

GreenShift Corporation (OTC Bulletin Board: GSHF) announced that it agreed to acquire a 30% stake in Air Cycle Corporation (“Air Cycle”), a privately-held lamp, ballast, battery and electronics waste recycling company. Under the terms of its agreement with Air Cycle, GreenShift will purchase 30% of Air Cycle’s outstanding stock and receive certain commercial rights in return for GreenShift’s investment of about $350,000 and its provision of strategic business development and other services. Lamp Recycling Due to the new Federal EPA regulations on fluorescent and mercury vapor lamps, which went into effect on January 6th, 2000, most non-residential facilities are now required to properly dispose of their lamps. Landfills are increasingly intolerant of lamps from non-residential sources due to the amount of mercury found in each lamp. Lamps later found in landfills are subject to retroactive clean-up costs under EPA regulations. Recycling of the lamp components is the recommended method of disposal by the Environmental Protection Agency and helps to eliminate facility liability. Air Cycle offers lamp recycling products and services nationwide based on its Bulb Eater product line and its EasyPak(TM) recycling program. Air Cycle’s EasyPak(TM) Recycling Program is offered as an alternative for customers who generate spent lamps, batteries, […]

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GreenShift Invests in Air Cycle Corporation

GreenShift Corporation (OTC Bulletin Board: GSHF) announced that it agreed to acquire a 30% stake in Air Cycle Corporation (“Air Cycle”), a privately-held lamp, ballast, battery and electronics waste recycling company. Under the terms of its agreement with Air Cycle, GreenShift will purchase 30% of Air Cycle’s outstanding stock and receive certain commercial rights in return for GreenShift’s investment of about $350,000 and its provision of strategic business development and other services. Lamp Recycling Due to the new Federal EPA regulations on fluorescent and mercury vapor lamps, which went into effect on January 6th, 2000, most non-residential facilities are now required to properly dispose of their lamps. Landfills are increasingly intolerant of lamps from non-residential sources due to the amount of mercury found in each lamp. Lamps later found in landfills are subject to retroactive clean-up costs under EPA regulations. Recycling of the lamp components is the recommended method of disposal by the Environmental Protection Agency and helps to eliminate facility liability. Air Cycle offers lamp recycling products and services nationwide based on its Bulb Eater product line and its EasyPak(TM) recycling program. Air Cycle’s EasyPak(TM) Recycling Program is offered as an alternative for customers who generate spent lamps, batteries, […]

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FuelCell Energy's DFC300MA Power Plant Certified by CSA International

FuelCell Energy, Inc. (NasdaqNM:FCEL), announced that its modular sub-megawatt Direct FuelCell (DFC) power plant has been certified to meet the ANSI/CSA America FC1-2004 Stationary Fuel Cell Power Standard by CSA International. Certification of the DFC 300MA fuel cell encompasses features emanating from FuelCell Energy’s cost-out program. These improvements — aimed at simplifying installation and maintenance of the units while reducing the cost and expense in transporting them — effectively broaden the market opportunity for fuel cells by improving their economics. The DFC 300MA power plant was introduced in June 2005, bringing to market in product form the company’s 2004 initiatives to reduce the units’ capital costs and ongoing maintenance expenses by 20-25 percent a year. Key among plans to lower initial capital costs were substitution of a standard ISO ship container (replacing a custom-made enclosure) and reduction of total parts count by 10 percent.. The mechanical balance of plant, electronic balance of plant and DFC modules, all housed on separate skids, are streamlined for post-sale servicing thanks to their more accessible components. Fuel Cell Energy’s DFC300A self-contained commercial stationary power plant and its DFC1500 power plants consisting of power generation and plant skids which provide high quality commercial grade base […]

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