Echelon (ELON) is rocketing higher this morning after the company announced it will be the long term supplier for Duke Energy’s (DUK) smart grid system to be deployed initially in Ohio with smart grid expansion plans in Indiana as well. The company provides electricity to 4 million customers across North & South Carolina, Indian, Ohio and Kentucky and is the nation’s 3rd largest utility. The company has received regulatory approval to deploy their smart grid … Read the rest
All posts by Tate Dwinnell
Comverge (COMV) Gets Buy Rating From Ardour Capital
Ardour Capital upgraded Comverge (COMV) this morning from Accumulate to Buy and raised the price target to $17.
Hat tip to StreetInsider.com for following analyst comment:
“COMV’s 2Q09 revenues were in line with our estimates and the Company is on track to meet FY09 targets. We are impressed with COMV’s progress in the build-up of its megawatts under management portfolio. In our view, strategic partnerships put COMV in a strong position to drive future growth.” … Read the rest
Suntech To Construct 100 MW Power Station In Lianyungang
Suntech just announced that it will build a 100MW solar power plant in Lianyungang, China. In pursuit of this goal, the company has entered into an agreement with Lianyungang Economic and Technological Development Zone. The project is divided up into phases. The first phase will be building a 20 MW installation using a CNY 500 million investment. The project is expected to start by the end of this year, and will be performed with the … Read the rest
Canadian Solar (CSIQ) Partnering With One Of China’s Largest Utilities
Canadian Solar (CSIQ) is announcing an important strategic alliance this morning with one of the largest utilities in China. CSIQ and a subsidiary of state owned China Guodian (Guodian Power), one of the country’s 5 largest utilities, will design, invest, build, operate and maintain solar power plants around Gansu, Ningxia and Inner Mongolia to start and develop new markets in the future. The first two projects will break ground in Ningxia with an initial phase … Read the rest
Rentech (RTK) Soars On News Its Synthetic Fuel Has Been Approved For Commercial Aviation
Over one month ago, I posted here that Rentech (RTK) was approaching final approval for use of its synthetic fuel in commercial aviation. It seemed at the time that the news would be enough to send the penny stock soaring, but it appears traders were waiting for final approval. Today, the stock was launched into orbit, doubling in price right at the open, but gave back much of the gains and closed up less than … Read the rest
Raser Technologies (RZ) Beats Estimates, CEO Resigns For Health Reasons
Raser Technologies (RZ) is another development stage company, possibly on the verge of great things in the geothermal space. Despite the beating the stock has taken, I still think the long term picture looks great. The company reported record revenues with a whopping $410,000 in sales (it’s a start!) as the company begins selling power to Anaheim. They beat on EPS posting a loss of .06/share vs the estimate of .10/share
Some highlights of the … Read the rest
Fuel Systems Solutions (FSYS) Beats, Guides Higher, Up 10% AH
Not a real impressive quarter out of FSYS after the bell today, but in this environment all you need to do is beat low expectations, guide in line or higher and the stock is usually off to the races. No exception here. The company beat analyst estimates by .14/share, posting .46/share which is a 15% decrease from the year ago quarter. Revenues were off 6% over the year ago period, but also beat estimates with … Read the rest
Ener1 (HEV) Misses Estimates
Ener1 (HEV) is still a development stage company so earnings aren’t all that important yet, but for those interested in the quarter, they missed Wall St estimates by a bit. The company did report another big gain in revenues quarter over quarter, posting 7.5 million, but is still far off from being profitable. The company posted a loss of .11/share vs analyst estimates of .10/share. What’s more important than all the earnings right now is … Read the rest
Altairnano (ALTI) Nets Battery Contract With Proterra
After 18 months of demonstration and testing, it’s official: Altairnano just snagged a contract with Proterra, a company that makes EV and electric buses, worth $898,400. Under the agreement, Altairnano will supply Proterra with its advanced batteries, each of which contain Altairnano’s 1P10S module configuration. In fuel economy equivalency tests at the University of Pennsylvania, electric buses using these batteries were able to obtain 20 miles per gallon- a 400 percent improvement over buses that … Read the rest
Itron (IRTI) Revs Up Production Capacity With New Automation System
Itron just announced that it plans to rev up production capacity to meet expected demand for its smart meters with a new automation system. Yesterday, the company held a ribbon-cutting ceremony to show off its new OpenWay system at its production line in Westminster, New York. Itron is expecting an increased demand of its smart meters as a result of the stimulus, and the OpenWay system is designed to ensure that Itron can meet that … Read the rest