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Volvo Launches World's First CO2-Free Automotive Plant

AB Volvo has decided to make Volvo Trucks’ plant in Tuve the world’s first CO2-free automotive plant. As a result of investments in wind power and biofuel, the plant’s electricity and heat will come from sources that do not emit any carbon dioxide into the atmosphere. “The Greenhouse Effect is a reality and the automotive industry has a specific responsibility for coping with emissions of carbon dioxide,” says Volvo’s Chief Executive Officer Leif Johansson. Combined with efforts to achieve energy savings of up to 20%, Volvo, in cooperation with Goteborg Energi is currently building five large wind power plants and a new biofuel plant adjacent to the Tuve plant. The five wind power plants alone will increase the amount of wind-power generated electricity in Sweden by 4%. When the plant does not fully utilize the produced electricity and heat, the surplus energy will be distributed to other customers via the district heating and electricity network. The wind power plants and the new biofuel plant are scheduled for completion during 2007. “This is not solely an admirable environmental effort,” says Leif Johansson. “We also expect that it will eventually be profitable on a purely commercial basis.” Volvo’s ambition is to make […]

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Zoltek in Deal for $50 million Financing Package

Zoltek Companies Inc. (Nasdaq: ZOLT), which makes components used for wind turbines and other products, has entered into an agreement for a convertible debenture financing package of up to $50 million in a private placement with a group of institutional investors. Zoltek will use the proceeds to support expansion, including the construction and start-up of nine new carbon fiber production lines at facilities in Hungary and the addition of new capacity at that plant for making acrylic precursor raw material used in the production of carbon fiber. “The new financing package is key to meeting rapidly expanding demand for carbon fibers, to increasing Zoltek’s sales and operating results in the near-term future, and to achieving our strategic objective of commercializing carbon fiber as competitive cost, high volume building material,” said Zsolt Rumy, Zoltek’s Chairman and CEO. “The financing package will enable us to almost double our capacity from what it will be at the end of this year — lifting rated carbon fiber productive capacity from 9 million to 17 million pounds a year. This is not a matter of build it (additional capacity) and they will come. All of new capacity that we are bringing on line will be […]

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GreenShift to Provide Disaster Relief Services in Gulf Coast Region

GreenShift Corporation (OTC Bulletin Board: GSHF) is executing a strategic alliance agreement with NEIE, Inc., a service-disabled veteran owned environmental management company under contract with one of the prime contractors with the U.S. Army Corps of Engineers responsible for debris management and other services in the afflicted gulf coast region. Under the terms of the agreement, NEIE has agreed to use the environmental engineering, waste management and operations management services and patented technologies of GreenShift’s various portfolio companies. The agreement calls for the use of GreenShift’s patented Tornado Generator(TM) technology and auxiliary systems for debris management and recycling on site at various locations in Louisiana and Texas and the surrounding areas. The parties expect to deploy an initial commercial scale Tornado Generator(TM) system in New Orleans as soon as possible for efficacy testing with a view towards a large scale rollout of the technology for debris management in the region. While Lt. Commander John “Whit” Davis, the chief executive officer of Tornado Trash Corporation, a wholly owned GreenShift portfolio company, will oversee deployment and operations for the initial system, GreenShift and NEIE plan to train and hire New Orleans and other area residents to operate Tornado Generator(TM) facilities on an […]

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