Valence Technology just announced that the company has joined a team of yachting industry leaders committed to developing a hybrid bluewater yacht and bringing it to market. Other team members include custom yacht builder Foundation Beneteau Yachts, marine diesel engine company Volkswagen AG and Tier 1 driveline integrator ZF Marine. Valence will provide its lithium-ion battery systems for the yachts.
Ener1 just announced that the company has received a $20 million strategic equity investment from Japanese commercial trading company ITOCHU Corporation. ITOCHU purchased 3.2 million shares of Ener1 common stock, paying $6.18 per share.
In a press release, Ener1 Chairman and CEO Charles Gassenheimer commented on the news:
“ITOCHU has been an invaluable strategic partner for Ener1, supplying capital at important phases in the company’s growth and granting vital access to materials and equipment. … Read the rest
Yingli Green Energy just announced that the company has entered into a sales agreement with Payom Solar AG. Under the terms of the agreement, Yingli will supply Payom with 51 MW of solar modules throughout 2010.
In a press release, Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented on the agreement:
“This agreement extends the successful cooperation with Payom that we have enjoyed over a number of years, and … Read the rest
A few analyst rating changes and coverage initiations this morning…
Barclays upgraded Suntech (STP), JA Solar (JASO) and Sunpower (SPWRA) to Overweight. All three are up about 8% today with STP and JASO breaking out of bases on the upgrade.
Wedbush Morgan isn’t quite as positive on Sunpower, lowering the price target from $29 to $21, but maintains its Neutral rating. Hat tip to StreetInsider.com for the following analyst comment:
Rentech (RTK) is up in premarket trading about 7% on news that along with ClearFuels Technology will receive up to $23 million in government funds to construct a biomass gasifier at a Rentech facility in Denver. The 20 ton per day ClearFuels gasifier will produce synthetic fuel from sugar can, wood waste and other cellulosic feedstocks. Knowledge from this test project will help the companies develop commercial scale facilities in the future. ClearFuels (in which … Read the rest
Construction of the first PowerBuoy wave energy system represents phase one and phase two will involve the build out of the final 9 systems which is expected to generate 1.5MW of electricity. Regional power company PNGC … Read the rest
“We are downgrading the company’s stock as a result of the company’s restructuring plan and the 20% planned head count reduction. We see the layoffs as a sign from management that a rebound in demand is materializing slower than originally anticipated. Furthermore, we expect competition … Read the rest
Cree just announced that they have signed an agreement with LED do Brasil Comercio de Produtos Eletronicos Ltda to help promote Cree’s LED products in Brazil, which is the 10th largest consumer of energy in the world.
In a press release, Vince Feorenzo, Cree sales director, explained more about the agreement:
“Led do Brasil will represent our LED components, from high-brightness to lighting-class XLamp® LEDs. We look forward to spreading the LED lighting revolution … Read the rest
Shares of LDK Solar (LDK) are rallying about 7% on news it has ended the solar supply disagreement with Q-Cells as the two companies settled out of court and will continue their relationship.
The original supply contract has been amended to be more flexible in supply and pricing. While the total 10 yr supply won’t change, LDK Solar will ship out fewer modules over the next two years to match current market conditions.
Solarfun Power (SOLF) has announced its subsidiary Jiangsu Linyang Solarfun has signed an agreement with the government of Jiayuguan City under which Solarfun agreed to build a 100MW solar power plant. To support this project, Solarfun agreed to construct a module production facility in Jiayuguan City.
Jingchang Zhang, Vice Mayor of Jiayuguan City, commented, “Jiayuguan is a famous tourist attraction in western China. Its abundant sunshine makes it an attractive location for solar projects. We … Read the rest
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