Capstone Turbine (CPST) Releases Ultra Low Emission CR200 KW Microturbine
Capstone Turbine just announced that it has released a new product: the Ultra Low Emission CR200 kW. The new microturbine is used for producing energy from waste gas and meets California’s Waste Gas Emission Standards, and is able to burn waste gas with methane levels as low as 30%.
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In a press release,Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation, commented on the new product:
"Renewable energy applications like landfills are a core part of Capstone’s business. Certification of the CR200 to these extremely stringent standards allows Capstone to continue to expand its market penetration and continues to demonstrate that Capstone is an industry leader in ultra low combustion emissions.”
Evergreen Solar (ESLR) Provides 12MW Worth Of Panels To Czech Republic
Evergreen Solar has announced that their String Ribbon solar panels have been used in a total of 9 solar installations in the Czech Republic, to provide a total of 12MW of power. The installations were carried out by Czech IT company NWT. The latest of these installations is a 3.5MW plan which is currently being built near the Czech city of Rostin.
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In a press release,David Vitek, General Director of NWT, explained why they chose Evergreen panels for these installations:
"We chose Evergreen panels, because they start to produce clean energy sooner and produce it longer. The biggest advantage of Evergreen Solar panels is that they not only produce clean energy, but the method of their production is also environmentally friendly."
Yingli Green Energy (YGE) Ups Guidance At Investor Conference
At a Chinese investor conference held earlier in the week, Mr. Zongwei Li, Director and Chief Financial Officer of Yingli Green Energy, upped the company’s guidance and announced that they have signed 575MW worth of sales contracts.
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Mr. Li said that he expects Yingli to close on 1000 MW worth of contracts by the end of the year, and that he expects gross margins for 2010 to increase from 28% to 30% to 31% to 32% due to “better than expected average selling price and improving operating efficiency of its new 400 MW production lines.”
Greenhunter Energy (GRH) Snags $30 Million of Recovery Zone Bonds to Expand Mesquite Lake Facility
On Tuesday, Greenhunter Energy announced that they have received $30 million in tax-exempt Recovery Zone bonds to expand their Mesquite Lake biomass power facility near El Centro, California.
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By the time both phases of the expansion are completed, the facility will provide enough electricity to power 18,000 homes and will create about 642 jobs.
In a press release, Gary C. Evans, Chairman and Chief Executive Officer, commented on the news:
"GreenHunter Energy’s application for a Recovery Zone Facility Bond allocation rated applicants on several key elements such as community need, job creation, and the energy efficiency of the proposed project. We scored above the required points value, demonstrating both the viability of the project and its importance to the local community. Due to the issuance of these CEDA bonds, we now have access to low-cost funding that will be necessary to cover the majority of our projected construction costs, and continue the permitting, engineering, and contracting processes required to get this project commercially operational."
SunPower (SPWRA) To Partner With CO Springs Utilities On 6MW Plant
SunPower just announced that they will be partnering with Colorado Springs Utilities to build a 6MW solar power plant at the U.S. Air Force Academy. It should be up and running by 2011, and will remove approximately 9,400 tons of CO2 from the atmosphere each year.
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In a press release, Jim Pape, president of SunPower’s residential and commercial business group, commented on the news:
"The 30-acre, 6-megawatt system at this site, where Air Force cadets and officers alike engage in thousands of training flights each year, will be a testament to the fact that solar power provides a secure, independent power source in the U.S. Reliability and quality are the hallmarks of SunPower systems. We look forward to working with the Springs Utilities and the Air Force Academy on this very exciting project."
Archer Daniels Midland (ADM) To Build New Brazilian Biofuel Plant, But May Lose Ethanol Subsidy
Archer Daniels Midland announced the construction of a new Brazilian biofuel plant on Tuesday. The biodiesel plant, ADM’s second in Brazil, will be located in Joacaba, Santa Catarina next to an existing soybean plant and will increase ADM’s biodiesel capacity in Brazil by 50%.
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In a press release, Patricia Woertz, chairman, chief executive officer and president of ADM, commented on the news:
“We see exciting opportunities for ADM within the Brazilian biodiesel industry. With strong support from the government, biodiesel is poised to play an increasing role in meeting Brazil’s growing demand for renewable fuels. By locating the plant adjacent to our Joacaba soy operations, we’re able to leverage our origination, transportation and processing assets."
However, Barron’s noted in the US, the election results could mean ADM and other companies will lose their ethanol subsidies.
LKQ Corp (LKQX) Announces Acquisitions
LKQ announced yesterday that it has acquired businesses since the beginning of the first quarter. The companies primarily deal in remanufacturing or aftermarket parts, and include: Cross Canada, a Canadian aftermarket parts distributor with operations in 5 provinces; PROformance Powertrain, an engine remanufacturer out of Springfield, MO; SPI Distribution, an aftermarket parts distributor; Best Bumper, a Texas bumper remanufacturer, an automotive recycler in Virginia and a self-service recycling company in Colorado.
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In a press release, Joseph Holsten, President and Chief Executive Officer of LKQ Corporation, commented on the acquisitions:
"The transactions we announced today support our strategic priorities. Combining the Canadian acquisitions with our existing operations in Canada provides LKQ with a geographic presence in each province from British Columbia to Quebec and forms the foundation for further expansion in Canada. The acquisition of PROFormance integrates with our engine product line, harnessing one of our competitive strengths — access to automotive drive-train equipment eligible to be rebuilt. The other transactions expand LKQ’s presence in related product lines including coolant and heating supplies, increase our bumper reconditioning capacity, and provide distribution points in new and existing markets."
MEMC Electronic Materials (WFR) Announces Favorable Rulings In Patent Lawsuit
MEMC Electronic Materials just announced that the patent lawsuit brought against the company by Soitec has been concluded. The rulings were mostly in MEMC’s favor, as Soitec was found to be infringing on MEMC’s ’812 patent. MEMC was found to be infringing on Soitec’s ’009 patent, but only in relation to wafers produced for research and development in between 2004-2006.
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In a press release, Shaker Sadasivam, EVP of MEMC and President of MEMC Semiconductor Materials, commented on the rulings:
"We are gratified that the jury has validated our claims and found that none of MEMC’s current processes infringe upon Soitec’s patents. Regarding the ’009 patent, while we’re disappointed that this last issue in the case did not go our way, the finding relates to a defunct process that hasn’t been used by MEMC in several years, and was never used for commercial production. It does not impact any current MEMC products or processes. We look forward to serving our customers with the same processes that we always have, and giving them some of the best products and service in the industry."
US Geothermal (HTM) Announces Successful New Well
US Geothermal just announced the successful completion and test of the new large-diameter NHS-2 well at Neal Hot Springs. The new well, which flowed at a rate of 3,027 gallons per minute under artesian pressure, has a production temperature of 287 degrees and is the fourth and final production well needed for the 23 net MW project.
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In a press release, Daniel Kunz, President and Chief Executive Officer, commented on the news:
"NHS-2 has the highest artesian flow rate of any well drilled at Neal Hot Springs. Like NHS-8, this is a great well. I am pleased that all four of these production wells came in under budget and we are able to reduce the total cost of the project by drilling smaller diameter injection wells."
A123 Systems’ (AONE) Lithium Ion Automotive Battery Plant Open In Michigan
It’s been a little over a year since A123 Systems received a $249 million grant from the DOE, and today the company announced the grand opening of its Livonia, Michigan lithium-ion battery plant. The plant is the largest lithium-ion battery manufacturing facility in North America, and is expected to boost the company’s manufacturing capacity by up to 600MW hours annually. The opening of the new plant puts A123 on target to achieve its annual cell assembly capacity goal of 760MW hours by the end of next year.
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At the Livonia plant, the company will manufacture prismatic cells and systems. Another plant, in Romulus, Michigan, is expected to come online later this year and manufacture coatings.
In a press release, Vieau, president and CEO of A123 Systems, commented on the grand opening:
"The opening of our Livonia facility is a significant milestone and confirms that we are accomplishing our stated objectives that accompanied the DOE grant. Bringing this factory on line in just over a year is a testament to our technology innovation and strategic plan to ramp up manufacturing, but it also speaks to the maturity of the market–without significant customer demand for our products today, a capacity expansion of this magnitude would not be possible. We are grateful to the DOE, the state of Michigan and everyone else who helped make this vision a reality. Over the next several years, we expect to create thousands of jobs in greater Detroit and plan to continue our expansion in the area as we do our part in helping the U.S. emerge as a global leader in the production of advanced lithium ion batteries."
