China Sunergy just announced the purchase of 2 solar module manufacturers, CEEG (Shanghai) Solar Science & Technology Co., Ltd and CEEG (Nan Jing) New Energy Co., Ltd, for a total price of approximately $47 million. The company is funding the transaction on its own, and will pay for the acquisitions in a series of installments.

CEEG (Shanghai) Solar Science & Technology produces 150 MW per year and is increasing capacity to 300MW by the middle of the year. CEEG (NanJing) New Energy is currently at 70 MW but is expected to be at 170MW later this year.  Both companies were controlled by China Electric Equipment Group Co., Ltd, which in turn is controlled by China Sunergy’s chairman.

In a press release, Mr. Lu Tingxiu, Chairman of China Sunergy, commented on the decision to purchase the manufacturers:

“These acquisitions enhance China Sunergy’s position in the downstream photovoltaic market and advance our initiative of developing into a comprehensive solution provider and providing value-added services to customers…Being vertically integrated will help to stabilize and increase margins in a possibly volatile environment, while representing a transformation towards a solution provider. We are reshaping the company from a single dimension manufacturing-oriented business into a platform with two pillars: technological innovation and a closer distribution channel to end customers. This acquisition will also positively impact China Sunergy’s customer composition, as we can further focus on providing value-added services to system installers and integrators.”

===> Click Here For Your FREE China Sunergy Analysis

Converted Organics just announced that they have shipped their LC 1-1-1 liquid organic fertilizer to Liberty Acres Fertilizer Corporation, a major East Coast fertilizer distributor with centers in Florida, Georgia, South Carolina and North Carolina. The company expects to ship more of this product to Liberty Acres in the next few weeks.

In a press release, David A. Flannery, Vice President of Marketing for Converted Organics, commented on the news:

” Partnering with Liberty Acres to provide fruit and vegetable growers with our unique LC 1-1-1 liquid organic fertilizer opens the door for Converted Organics on the extremely important and vital East Coast agriculture market. By working with Converted Organics, Liberty Acres can, for the first time, offer organic and conventional growers in the east a new range of organic fertilizers that are environmentally-friendly and safe for annual crops such as tomatoes, peppers, melons and strawberries.”

===> Click Here For Your FREE Converted Organics Analysis

Raser Technologies (RZ) is moving higher in premarket trading after reporting better than expected results last night.  The company reported a loss of .07/share which beat the estimate of -.11/share and is a big improvement over the year ago quarter when the company reported a loss of .17/share.  That’s in large part due to the company now selling power from its Thermo plant to Anaheim, CA which is giving revenues a boost.  The company reported nearly $1 million in revenues this quarter which is the 3rd straight quarter of improving revenues.  All in all, a nice quarter from a company that has really struggled in the past year.  With a new CEO on board and some revenues coming in from its Thermo plant, this may be a stock to watch in the coming weeks.

Raser Chairman Kraig Higginson commented:  “We continued to grow in the fourth quarter 2010 and signed key deals that will keep us moving in the right direction.  We expect that the partnership with Evergreen will allow Raser to begin capitalizing on the abundant geothermal resources the Company has acquired. We are also pleased to see the output at Thermo 1 continue to increase as we make improvements and modifications. We have progressed from raw land to an operating power plant in just over two years at our Thermo Resource. Although behind our initial aggressive timeline, it is still far ahead of anyone else in our sector, which certainly validates our premise of a modular, rapid deployment strategy. I am confident we now have the team in place to further refine the process and complete future deployments in a more streamlined manner.”

New CEO Nick Goodman indicated that the company is making final preparations to begin their next geothermal energy project at the Lightning Dock, New Mexico site and expects to begin drilling soon.  However, it’s still pending permits and financing so soon could mean many months.. we’ll see.

===> Click Here For Your FREE Raser Technologies Analysis

Trina Solar (TSL) is under pressure this morning after announcing last night that it intends to offer 7,900,000 ADS shares for sale with the option for underwriters to purchase an additional 1,185,000 shares.  Proceeds will be used to expand manufacturing capacity, R&D and general corporate purposes. 

Shares are down about 4% in premarket trading as the stock continues to trade below the 50 day moving average and showing technical deterioration.  It looks like it may need to retest the area around the 200 day moving average in the coming weeks.

===> Click Here For Your FREE Trina Solar Analysis

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