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Beacon Power and NxtPhase Terminate Acquisition Agreement

Beacon Power Corporation (NASDAQ: BCON) has terminated plans to acquire NxtPhase in an all-stock transaction. Each side agreed to release one another from any legal claims or actions resulting from the process, and Beacon also agreed to pay $150,000 to NxtPhase. “We believe that this decision is in the best interests of our shareholders,” said Bill Capp, Beacon Power president and CEO. “With substantial new financing for Beacon now in place and with final resolution of this proposed acquisition, we can focus our attention on building and deploying our next-generation flywheel systems for grid frequency regulation and other commercial applications.” Beacon designs sustainable energy storage and power conversion solutions to provide reliable electric power for the utility, renewable energy, and distributed generation markets. Beacon’s Smart Energy Matrix is a design concept for a megawatt-level, utility-grade flywheel-based energy storage solution. Website: [sorry this link is no longer available]     

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Weekly Clean Energy Roundup:November 23, 2005

News and Events DOE to Set Schedules for Appliance Standards by January 2006 DOE, ASE Provide Information on Energy Efficiency Tax Credits Ford Begins Full-Scale Production of Mercury Mariner Hybrid Ormat Commissions 20-Megawatt Geothermal Power Plant in Nevada Federal Agencies Publish New Hydropower Licensing Rules New Wave Energy Prototypes Deployed in Hawaii and New Jersey DOE to Set Schedules for Appliance Standards by January 2006DOE announced last week that it will set schedules for all appliance rulemaking activities no later than January 31st, 2006. DOE held a public meeting on November 15th to invite comments on standards scheduling issues, and will develop its schedule after considering those comments. As required by the Energy Policy Act of 2005 (EPACT 2005), DOE’s plan and rulemaking schedules will be reported to Congress by February 8th, 2006. See the DOE press release.On October 18th, DOE issued a final rule to codify 15 new appliance standards prescribed by EPACT 2005. Currently, DOE is working on another “en masse” rulemaking to clarify and codify the test procedures specified by EPACT 2005. DOE is also continuing progress on previous high-priority rulemakings, including new standards for distribution transformers, residential furnaces, and boilers. The rulemakings are managed by the […]

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Carmanah Announced $10 Million Financing

Carmanah Technologies Corporation (TSX VE: CMH) announced it has entered into an agreement for a private placement of $10 million in common shares with a syndicate of underwriters, led by GMP Securities Ltd. and including Canaccord Capital Corporation and Sprott Securities Inc. Carmanah will issue 3,125,000 Common Shares at a price of $3.20 per Common Share. GMP will also have the option to purchase up to an additional 1,562,500 Common Shares on identical terms from Carmanah, which option may be exercised at any time until one day prior to the closing of the Private Placement. Net proceeds will be used by Carmanah to: – increase the Company’s working capital; – support the Company’s expansion of facilities in Victoria, BC, Calgary, AB, Santa Cruz, CA and London, England; – pursue synergistic acquisition opportunities that will add to the Company’s leadership position within the solar, solar/LED and LED markets with finished integrated products. “We are pleased to be represented and supported in this financing by such strong corporate finance partners”, states Art Aylesworth, Carmanah’s CEO. “It is positive recognition of our progress to-date, and we look forward to the expanded institutional investor base that we expect this transaction to bring to the […]

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Beacon Power and NxtPhase T&D Corporation Terminate Arrangement Agreement

Beacon Power Corporation (NASDAQ: BCON), announced that the Company, NxtPhase T&D Corporation and Class A shareholders of NxtPhase have executed a settlement agreement that terminates an arrangement agreement, originally signed on April 22, 2005, under which Beacon was to acquire NxtPhase in an all-stock transaction. As part of the settlement agreement, each side agreed to release one another from any legal claims or actions resulting from the process, and Beacon also agreed to pay $150,000 to NxtPhase. The arrangement agreement specified that the transaction would automatically terminate if not completed by December 31, 2005. Considering the status of the SEC review process and the limited time remaining until December 31, as well as the increase in Beacon’s stock price since the signing of the agreement, it was determined that the transaction was unlikely to be completed. Under the terms of the investment agreement between Beacon Power and Perseus entered into in April 2005, the termination of the NxtPhase arrangement agreement obligates Beacon and Perseus to consummate an exchange whereby approximately 1.2 million shares of the Company’s common stock that had been issued to Perseus 2000 Expansion, L.L.C. under the investment agreement will be returned by Perseus to Beacon in exchange […]

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Green Mountain Coffee Roasters Receives 2005 Green Power Leadership Award

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is a recipient of a 2005 Green Power Leadership Award for its commitment to purchasing renewable energy. The annual awards, presented during the Green Power Marketing Conference, are sponsored by the U.S. Environmental Protection Agency (EPA), the U.S. Department of Energy (DOE), and the Center for Resource Solutions (CRS) to recognize organizations whose actions help advance the development of the nation’s green power market. The Green Power Leadership Awards for green power purchasers is a component of the U.S. EPA’s Green Power Partnership, a voluntary program providing technical assistance and public recognition to organizations that switch to green power for a portion of their electricity needs. The purchaser awards fall into three categories: On-site Generation, Green Power Purchasing, and Green Power Partner of the Year. The Green Power Purchasing award was presented to Green Mountain Coffee Roasters after a panel of eight judges reviewed nearly 70 nominations based on criteria ranging from the amount of renewable electricity purchased or generated to each organization’s strategy for incorporating green power into its operations and communications. Green Mountain Coffee Roasters recently achieved its goal of 100 percent carbon neutral operations through renewable energy purchases. In addition […]

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Horizon Wind Signs Frame Agreement with Gamesa for Supply of 600 MW of Wind Turbines

Gamesa Wind US LLC., a subsidiary of Gamesa Elica, has been selected by Horizon Wind Energy for the supply of up to 600 MW of wind turbines for projects located in the United States. The agreement between Gamesa and Horizon involves the supply of the full line of Gamesa G8X-2.0 MW products, including the Gamesa G80, Gamesa G83, Gamesa G87, and Gamesa G90 wind turbines. Most of the manufacturing of these wind turbines will be carried out in the plants that the Spanish company owns in the US. The frame agreement initially calls for the supply of 400 MW with an option for an additional 200 MW. The turbines will be installed during 2006 and 2007. The estimated value of this frame agreement, depending on its final scope and the combination of the wind turbine models, could reach up to $700 million. “We are very pleased that Horizon has turned to Gamesa for their wind turbines needs. This transaction strengthens the position of Gamesa Wind in the US, which together with Chinais one of our target markets as we expand internationally,” said Iaki Lpez Gandsegui, Gamesa’s CEO. “We look forward to installing Gamesa turbines over the next two years. Gamesa […]

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