Janney Montgomery is out this morning maintaining their Buy rating on Clean Energy Fuels (CLNE) and nearly doubling the price target from $14 to $27.
Hat tip to StreetInsider.com for the following analyst comment:
We are raising our fair value estimate for BUY-Rated Clean Energy Fuels (CLNE) from $14 to $27, based on 18x our CY2011 EPS estimate of $1.49. We believe investors are increasingly looking into 2011 to see which companies will be the … Read the rest
It’s clear that there is a tremendous appetite for the IPO of A123 Systems.. They initially estimated the price range around 9, then upped to 11 and it ultimately priced at 13.50. Trading opened up just a few minutes ago at 16.74 and it’s already up another 15% from there. I never chase IPO’s in the first few days of trading. I’ll have more on this in the coming days, but I always wait for … Read the rest
Energy Focus, Inc just announced that it has inked a $3.1 million, two-year contract with the DuPont-University of Delaware Very High Efficiency Solar Cell (VHESC) Consortium to develop, cheap, high-efficiency solar modules. The project is being funded by the Defense Advanced Research Projects Agency (DARPA), and uses spectrum splitting technology to increase efficiency by breaking up sunlight into different color bands and directing each color to PV cells targeted toward that specific part of the … Read the rest
FPL Group and Duke Energy just made a public commitment to switch to plug-in hybrids or electric vehicles. The commitment period starts January 1, 2010. The stated goal for both companies is to have all of their new company cars, trucks and fleet vehicles switched over by 2020.
This is big news: the commitment will create a demand for 10,000 new plug-in electric vehicles, and automakers who can meet that demand could claim a chunk … Read the rest
It appears Clean Energy Fuels (CLNE) wants to position itself for the potential growth in natural gas powered vehicles with a purchase this morning of BAF Technologies which is the leading provider of natural gas vehicle systems and conversions in the US. This is a great move and gives them a complete natural gas vehicle solution from conversion to the fuel pump. Fuel Systems Solutions (FSYS) is the current leader in nat gas auto conversions, … Read the rest
American Superconductor is forming AMSC Korea to accelerate a push into a growing market for wind energy and power grids. The new HQ will reside in Busan, South Korea and house engineering, sales, biz development and field support for AMSC customers which currently include LS Cable, KEPCO, KEPRI, KERI, Doosan Heavy Industries and Hyundai Heavy Industries.
Dan McGahn, senior VP of AMSC, said, “The country is investing billions of dollars to bolster its power grid … Read the rest
It’s been a great 24 hours for Ascent Solar (ASTI). Yesterday, the stock gapped up above the 50 day moving average on news of a supply deal with Goal Zero and is up another 20% this morning on news it has signed a multi year supply deal with TurtleEnergy. ASTI will deliver up to 67MW of high efficiency flexible thin film solar modules over the course of five years and will begin shipping early … Read the rest
Suntech just announced that it has achieved another world record for multi-crystalline module conversion efficiency. In August, Suntech broke Sandia National Lab’s previous record of 15.5 percent. Now, it has broken its own record by achieving conversion efficiencies of 16.53%, as verified by the Fraunhofer Institute for Solar Energy Systems ISE.
The record was achieved with Suntech’s Pluto technology. In a press release, Dr. Stuart Wenham, Suntech’s Chief Technology Officer, and Dr. Martin Green, Research … Read the rest
ReneSola just announced that it has share purchase agreement to acquire Dynamic Green Energy. Dynamic Green owns Jiawei Solarchina Co and other subsidiaries, owns production facilities for solar ingots and PV modules and also assists other solar manufacturers with original equipment manufacturing. Under the agreement, ReneSola will gain ownership of all of Dynamic Energy’s shares in exchange for the following: 26,787,210 shiny new ordinary shares of ReneSola and a $10 million convertible promissory note.
In … Read the rest
Nasdaq officials agreed to grant Advanced Environmental Technologies a temporary reprieve from de-listing after the company submitted an action plan to bring itself back in compliance with Nasdaq’s standards. The company now has a full 180 days, until December 23, 2009, to regain compliance with Nasdaq’s regulations regarding minimum equity or net income. AERT also needs to bring its stock price above $1 per share.
In a press release, AERT CEO, Joe Brooks, commented … Read the rest