GT Solar International announced on Friday that it will lay off 25 workers from its Merrimack solar furnace operations. No further layoffs have been announced at this time, and GT Solar states that there is still strong enough demand for its polysilicon reactors to maintain current employment levels in its other locations. The 25 workers who were cut due to a slowdown in directional solidification system (DSS) furnace production rates. Due to the economic crisis, … Read the rest
All posts by Tate Dwinnell
Epuron and GE Energy Financial Services (GE) To Form Asia Pacific Renewable Energy Trust
GE has teamed up with EPURON Pte. Ltd. Singapore, a subsidiary of Conergy, to form the first renewable energy trust in the Asia Pacific region. The joint venture, to be called The Renewable Energy Trust Asia, or RETA for short, will invest in various types on renewable energy in the Asia Pacific market. Here are some more details about how the venture will work:
… Read the rest“RETA”) is an investment vehicle focused on the US$7 billion
Wal-Mart And Sunpower (SPWRA, SPWRB) Team Up To Provide Solar Power To Hanford, CA Store
Wal-Mart and Sunpower announced the completion of Sunpower’s first solar power installation under its contract with Wal-Mart. The project, a 554-KW solar power system, will produce about 15% of the energy needed to power Wal-Mart’s Hanford, CA store.
Wal-Mart is purchasing solar power from Sunpower and other companies for 22 of its locations in California and Hawaii, reducing its greenhouse gas emissions by 7,000 to 8,000 metric tons per year. As part of the … Read the rest
Borg Warner (BWA) Revises 2008 Earnings Guidance Downward
Borg Warner announced today that it is once again revising its 2008 earnings guidance downward. Previously, Borg Warner had expected non-GAAP earnings of $2.25 to $2.35 per share. However, due to current economic conditions, the company now expects non-GAAP earnings of $1.85 to $1.95 per share. The following special items will also impact the company’s balance sheets for 2008:
… Read the restPreviously announced nine-month year-to-date charges: goodwill adjustment of $(1.27) related to the BERU acquisition, BERU
EMCORE (EMKR) 4th Quarter Results Show Larger Loss Than Expected
EMCORE released preliminary 4th quarter results today. The company performed below expectations, posting a net loss (GAAP) of $19.4 million, or .25/share. The previous year, the company had posted a loss of $17.5 million, or .34/share. Looking at the Non-GAAP numbers, net loss was 12 cents a share, well below Wall Street’s expectations of .01/share.
EMCORE advised that gap in performance was primarily related to "lower gross margins related to expenses on inventory write-downs and … Read the rest
JA Solar Holdings Co, Ltd (JASO) Revises Guidance
JA Solar announced it is revising it’s guidance for the 4th quarter based on the economic slowdown.
Previously, the company had predicted revenue of RMB 1.3 billion or $191.5 million to RMB 1.5 billion or $220.9 million. However. JA Solar has reduced that expectation to about RMB 843 million or $124 million. The company still expects to earn a gross margin of between 5 to 7 percent and expects to break even on earnings/ADS.
Caraustar Industries, Inc. (CSAR) To Close One Mill and Idle Another
Caraustar Industries announced today that due to the economic slowdown, it is closing its Richmond, VA paperboard mill and putting its Charlotte, NC mill on standby. The Richmond Paperboard Mill is closing permanently effective December 11, 2008, generating an anticipated $5.1 million in pre-tax savings for Caraustar. The Charlotte mill will go on standby effective December 19 until demand improves. The company expects to open the Charlotte mill again early in 2009.
‘The vice … Read the rest
Ocean Power Tech (OPTT) Reports Wider Loss, But Increasing Staff
Ocean Power Tech (OPTT), a wave energy upstart reported earnings this morning well below analyst estimates. While the company reported a record order book, rising from 3.7 million last year to 8 million this year, the interim losses mounted due to higher costs as the company continues to pour money into research.
OPTT posted revenues of $700K which is significantly lower from the year ago quarter when it posted 1.7 million. They attributed the lack … Read the rest
Verenium Corp (VRNM) Could Fall Off The NASDAQ
Verenium Corporation has been given a warning by NASDAQ. The company is in violation of Marketplace Rule 4450 (b)(1)(A), which states that
Companies affiliated with NASDAQ Global Market must maintain a minimum market capitalisation of $50 million. As an alternative, a company may maintain total assets and total revenues of $50 million each for the most recently completed year (In this case 2007) or for two of the three most recent fiscal years.
Verenium … Read the rest
Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) To Supply Vehicle Architecture For New Hybrid
Quantum Fuel Systems Technologies Worldwide Inc. announced today that it will provide its Q-Drive high-performance plug-in-hybrid electric vehicle architecture to its affiliate Fisker. Fisker will use the Q-Drive vehicle architecture to produce its sporty "KARMA" plug-in hybrid. The KARMA will be able to go for up to 50 miles on its electric battery alone, with a hybrid gasoline engine for longer trips.
The Karma can be charged using a normal 110-volt electric outlet, or … Read the rest