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Sheraton New York Hotel & Tower: First Manhattan Hotel to Run on Fuel Cells

The Sheraton New York Hotel & Towers, the Sheraton brand’s flagship hotel of Starwood Hotels & Resorts, is dedicating Manhattan’s first high temperature fuel cell-powered electric plant. The 250-kilowatt system — technology developed by FuelCell Energy Inc. and operated by PPL Corporation — will supply 10 percent of the hotel’s electricity and hot water needs and supply back-up electric service for a portion of the hotel. This high-efficiency technology generates electric power from natural gas without combustion. The New York State Energy Research and Development Authority (NYSERDA) awarded $920,000 toward this project, which was one of the finalists selected for funding in 2002 under NYSERDA’s combined heat and power program. Starwood and Fuel Cell Energy recently announced FCEL would be supplying fuel cells throughout the hotel chain.

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Nanosolar Secures $20 Million in Equity Financing

Nanosolar, Inc., a company developing cost-efficient solar electricity, closed $20 million in Series B funding. This increases the total amount of funding secured by the company to $37 million (not including additional loans). Led by MDV (Mohr Davidow Ventures), the Series B round also includes Mitsui, Japan’s largest distribution company, and OnPoint, the U.S. Army’s venture fund, in addition to previous investors which included Benchmark Capital and others. The funding will support the company’s move into commercial production. As part of the financing, MDV’s Erik Straser has joined the company’s board of directors. “Among all the companies working on next-generation solar technology, Nanosolar is the one that can deliver the very best cost efficiency, and it accomplishes this without having to compromise on energy conversion efficiency or durability,” said MDV’s Erik Straser. Nanosolar has successfully developed a leapfrog aggregate of process technology innovations for solar panels that can match conventional silicon modules in both energy output and long-term durability yet deliver radically lower fully-loaded manufacturing product cost. A key aspect to this is the unprecedented throughput that Nanosolar’s process technology achieves: With more than an order of magnitude faster intrinsic process throughput over the best in conventional silicon or vacuum […]

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Catalytica Energy Systems Reports Q1 Results

Catalytica Energy Systems, Inc. (NASDAQ: CESI), a provider of emissions solutions for the power generation and transportation industries, reported financial results for the first quarter ended March 31, 2005. Total revenues for the first quarter of 2005 were $1,299,000, compared with total revenues of $986,000 in the same period of the prior year. Total costs and expenses for the quarter were $4,921,000, compared with $4,323,000 in the first quarter last year. Revenue growth and increased operating expenses between periods reflected a full quarter of SCR services business activities following the Company’s acquisition of SCR-Tech, LLC on February 20, 2004. Net loss for the quarter ended March 31, 2005 was $3,538,000, or a loss of $0.20 per share, compared with a net loss of $3,241,000, or a loss of $0.18 per share, in the same quarter of the prior year. Cash, cash equivalents, and short-term investments (collectively referred to as “cash”) at March 31, 2005 totaled $32,136,000, a decline of $3,456,000 from December 31, 2004. “During the quarter, we continued to make excellent progress in advancing development and commercialization efforts associated with our diesel emissions reduction solutions,” said Mike Murry, president and CEO of Catalytica Energy Systems. “Our first quarter results […]

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U.S. Senator Domenici Says Energy Bill Debate Begins Monday

by Mary O’Driscoll, June 7, 2005 Senate Energy and Natural Resources Committee Chairman Pete Domenici (R-N.M.) today said the energy bill will hit the Senate floor Monday for an anticipated two-week debate that could be complete by the Fourth of July recess. The accelerated schedule means tomorrow’s Environment and Public Works Committee markup of the nuclear energy provisions is likely to move quickly. EPW Committee members have reserved four amendments – two dealing with Homeland Security grants and one each on nuclear plant sirens and vulnerability assessment — but they are not likely to be included in the bill. The Finance Committee’s markup of the tax package — which could go as high as $11 billion over five years — will take place while the energy bill is on the Senate floor. Grassley is trying to keep the bill limited to the $11 billion figure but is taking into consideration attempts to amend the measure, a spokeswoman said. It remains unclear whether differences between Domenici and EPW Chairman James Inhofe (R-Okla.) on the energy bill’s ethanol provisions will delay the bill. Inhofe has notified Domenici that the energy committee’s approval of an 8 million gallon market for ethanol by 2012 […]

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Nevada Lawmakers Approve Measure Encouraging Energy Conservation

A wide-reaching energy bill designed to encourage conservation and boost the usage of renewable energy by Nevada’s utilities was one of the last bills approved by lawmakers before they adjourned their special session on Tuesday. “It is cutting-edge legislation. There is no question,” Jon Wellinghoff, a lobbyist for renewable energy and conservation interests, said of AB3, which is expected to be signed into law by Gov. Kenny Guinn. “It was a giant step for the state of Nevada in helping consumers manage their consumption costs and bringing an additional infusion of capital for purposes of conservation,” said Senate Commerce and Labor Chairman Randolph Townsend, R-Reno, who pushed the measure. AB3 directs the Nevada Commission on Economic Development to approve a 50 percent property tax reduction for up to 10 years to owners who have buildings that meet energy conservation standards. Under the bill, renewable energy systems are exempt from sales taxes. Installers of solar photovoltaic systems, which convert sunlight into electricity, will need to be licensed. The measure allows Nevada Power Co. and Sierra Pacific Power Co. to get energy credits for conservation programs that can be used to meet up to one quarter of their renewable energy requirements under […]

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