The EcoRide BE35 battery electric transit bus, developed by Proterra LLC is making its debut in a showcase tour across four California cities (San Jose, LA, The Sac and San Fran) that began on Feb 6th. The bus is powered by a PowerPhase 150 propulsion system from UQM Technologies (UQM) that provides regenerative braking allowing the bus to recapture over 90% of the vehicles kinetic energy available during braking.
“The fact is, emissions free transit … Read the rest
According to StreetInsider.com, Citi is out maintaining it’s HOLD rating on Evergreen Solar (ESLR) but cut the price target from $6 to $3.
Says Citi:
“We applaud ESLR’s new strategy to focus on its competitive advantage making wafers that use less silicon. But even with much lower capital intensity, it still faces a tradeoff between slowing capacity expansion to preserve cash or gunning it, hoping to raise money. While this move makes this stock … Read the rest
Energy Conversion Devices (ENER) continues on the path of growth but like the rest of the industry isn’t immune to soft estimates for this year. The company reported a profit of .33/share which beat estimates of .31/share and is a big improvement over the year ago quarter in which the company posted a loss of .08/share. Revenues nearly doubled over the year ago quarter to $103 million and also exceeded estimates by a bit.
For … Read the rest
According to PV-Tech.org, Evergreen Solar is considering outsourcing some of its production to Asian subcontractors to cut costs. This move would allow Evergreen to address its current backlog in orders and move forward with expansion plans while reducing its need for capital.
Evergreen Solar’s President and CEO commented on the possibility of outsourcing during the company’s 4th quarter earnings call:
… Read the rest“Using a subcontractor would significantly reduce our need for expansion capital, while allowing us to
Analysts are out with a few notes this morning – an initiation of coverage on American Superconductor (AMSC) with a BUY and a downgrade of Evergreen Solar (ESLR) to NEUTRAL.
According to StreetInsider.com, Piper Jaffray downgraded ESLR to Neutral for the following reasons:
– rapidly losing polysilicon cost advantage
– low visibility in financial impact of outsourcing production to Asia
– minimal balance sheet flexibility for pursuing expansion in Asia
Broadpoint AmTech Initiates Coverage … Read the rest
TradingMarkets.com is reporting that a group of Chinese solar power companies has presented a plan to the Chinese Ministry of Science to try to drop the cost of producing solar power to 1 yuan/KWH within two years. Particpants in the plan include Solar Power Technologies, Trina Solar, Canadian Solar Inc, LDK Solar and Solarfun Power Holdings Co.
According to TradingMarkets.com,
… Read the restAn industry insider said it’s feasible to carry out the plan, which combines companies
The Andersons just reported their 4th quarter and full year results. Although the company reported net income of $32.9 million, or $1.79 per share, the full year results represent a 54% decrease in net income from 2007, then the company earned $68.8 million, or $3.75 per share.
Looking at just the 4th quarter, the company reported a loss of $33.4 million, or $1.85/share. In the 4th quarter of last year, the company reported net income … Read the rest
IBM has been hired by 2 Maltese companies, Enemalta Corporation and Water Services Corporation, to design and install a smart grid for the entire nation. Under the terms of the 70 million euro agreement, IBM will create a smart grid system to manage electricity and water use, replace the country’s analog meters with smart meters, and integrate the utility systems to allow for remote monitoring and management. The major benefits of the system include … Read the rest
For the 2nd straight quarter Evergreen Solar (ESLR) posted a loss, but taking out one time costs of $23 million for the closure of the Marlboro pilot facility, $8 million for the write off of research and development equipment and $9.7 million for facility startup costs at Devens and Midland, the company reported a loss of .07/share, less than analyst expectations of a .14/loss. However, revenues were a bit of a disappointment in the quarter, … Read the rest
Just a couple days ago Raser Technologies (RZ) announced they had secured 37K acres in Oregon for geothermal plants and the stock shot up on the news with volume. After a pull back yesterday, the stock may run up into its conference presentations over the next two weeks.
Here is the schedule:
— Southwest Securities Investor Conference on February 12 at the Hotel Crescent Court, Dallas. This conference is scheduling one-on-one meetings, and those interested … Read the rest