Euro Tech Holdings (CLWT) is surging a bit more than 10% this morning and getting back above the $2 buck level on news its subsidiary Yixing PACT was recently awarded a $3.8 million wastewater treatment contract by a Korean stainless steel company.  Yixing will be responsible in designing and installing a 5k cubic meter/day treatment system, a 860 cubic meter/hour direct water cooling system, a 4.5K cubic meters/hour indirect cooling water system, a 50 cubic meters/hour deionized treatment system, a 140 cubic meters/hour potable water treatment system and a 340 cubic meters/hour industrial water treatment system.

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Suntech Power Holdings  just announced that it is trying to triple its US sales this year, from 15 percent of the US market to 20 percent. The company also expects to expand its network of dealers in the US.Although some industry analysts are concerned that subsidy cuts in Germany could cut demand for solar panels, Suntech is optimistic htat lower polysilicon prices and increased demand from the US will balance it out.

In an interview with Reuters, Suntech Chief Strategy Officer Steven Chan commented:

“Suntech has been more in a situation where there is more demand for our products than we had supply. If we had the ability to produce more panels, we could sell the panels.”

He also stated that he expects prices for polysilicon to drop, possibly as low as $35-40 per kilogram, and that the company expects global shipments to be up by 75 percent this year, compared to 2009’s 650 MW.

He also commented on the situation in Germany, saying “The German feed-in tariff situation is very dynamic and fluid and so it’s a little bit premature for us to speculate what the prices would be.”

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Rubicon Technology (RBCN) is getting closer to returning to profitability, reporting a loss of .04/share on revenues of $8.5 million, both of which beat analyst estimates of a .05 loss on revenues of $7.3 million.  Sequential revenue continues to improve quickly with 49% growth over last quarter.  The company expects to return to profitability next quarter with estimates of an EPS of .03 gain on revenues of $10.5 million.  Both estimates are above Wall St estimates of .01/share gain on revenues of $8.7 million.

CEO Raja Parvez attributed the strong quarter to strong LED demand, better factory utilization, increased pricing  and a shift in product mix.  He commented on the strong LED demand, saying, “Demand from the LED market continues to strengthen, particularly the demand for LED backlighting. With LED backlighting becoming more cost competitive and with the enhanced performance, thin profile and energy efficiency they provide, we expect LED backlighting to continue to rapidly gain market share over traditional backlighting solutions.”

Shares of RBCN are up nearly 10% in premarket trading.

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Energy Conversion Devices (ENER) posted another big loss this morning as the red ink continues to flow.  Taking out one time costs for the integration of Solar Integrated Tech, restructuring and inventory write offs, the company still reported a big loss of $25.6 million or a loss of $.56/share which is an increase from last quarter’s loss of .34.  Wall St expected a loss of .43/share.  On the bright side, the company did show sequential revenue growth and beat Wall St estimates by posting revenues of $52.9 million.  That’s still a 50% plunge from the year ago quarter though.  While it looks like maybe, just maybe ENER is ready to turn the corner, it may be quite awhile before they’re profitable again.

The CEO made the following comments:

“Our new projects business is gaining traction as demonstrated by our recent announcements, including the new agreement with Enel Green Power of Italy that will be up to 25 megawatts.  Additionally, our new PowerTilt™ product is already seeing excellent customer interest even before our expected initial shipments this spring.”

“We are confident in our ability to achieve 12 percent laminate conversion efficiency and less than $0.95 cost per watt.”

“We are encouraged by the early results of the business initiatives undertaken in the second quarter.  We’ve signed more than 35 megawatts of new projects and agreements since the end of the quarter, and we expect to build on this momentum in the second half of the fiscal year.

Shares are hanging in there premarket and trading flat.

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