Coverted Organics (COIN) just surged about 10% intraday on news of a strategic partnership with Archer Daniels Midland (ADM) to develop organic liquid based and solid fertilizers for use in the professional turfgrass market and will have access to ADM’s patent pending technology.… Read the rest
All posts by Tate Dwinnell
City of Burbank Extends Clean Energy Fuels (CLNE) Contract
Clean Energy Fuels (CLNE) is announcing this morning that the City of Burbank, California is expanding its contract with the company to 2022. Under terms of the contract, CLNE will design, build and operate a new compressed natural gas (CNG) fill station at the Public Works Yard.
“We are pleased to continue and extend our successful CNG fuel relationship with the City of Burbank, where we have provided reliable, cost-effective, environmentally-friendly fueling services for the … Read the rest
Piper Jaffray Lowers Energy Conversion Devices (ENER) Price Target
According to StreetInsider.com, Piper Jaffray has lowered the price target of Energy Conversion Devices (ENER) from $56 to $38 but maintains its neutral rating.
The firm notes that “ENER management guided to flat to slightly down ASPs for FY09 which seems difficult to achieve in our opinion given the dramatic decline in polysilicon module prices. The company maintained revenue guidance for FY09 and tightened solar GM guidance to 34%…We believe that ENER may run … Read the rest
Advanced Environmental Recycling Technologies (AERT) Releases 3rd Quarter Results
AERT Sales were down compared to the third quarter of last year, dropping from $25.2 million in the third quarter of 2007 to $18.6 million today. However, since the company was also able to reduce operating expenses during that time, gross margins increased to 10.1% of sales in the third quarter of this year, versus 8.2% last year. The net loss stayed about the same-this year it was $1.9 million, and in the third quarter … Read the rest
Ascent Solar (ASTI) Signs Cooperation Agreement With Turtle Energy
Ascent Solar Technologies has signed a cooperation agreement with TurtleEnergy, LLC. The two companies will join forces to develop new building integrated photovoltaic roofing products. Under the agreement, Ascent Solar will provide Turtle Energy some of its PV modules, with delivery to TurtleEnergy stepping up after Ascent Solar completes its planned expansion. TurtleEnergy will use the product provided to create certified building integrated photovoltaic roofing products to be distributed in the US. According to TurtleEnergy, … Read the rest
SunPower (SPWRA) In 130MW Deal With Ecoware
SunPower (SPWRA) announced a new 130MW deal today and will supply Ecoware of Italy solar panels under a 4 year contract and begin delivering in the first quarter next year. Financials of the deal have not been disclosed.
The deal was a bright spot in an otherwise tough week for the company which last week cut its outlook and plunged more than 30% on euro weakness then hit was hit again today on a Deutsche … Read the rest
Wedge Partners Says China Solar Companies Slowing Production
According to Barrons, Wedge Partners was out with a research note this morning saying that the China based solar companies are slowing production in anticipation of falling demand and prices.
Some highlights:
– Suntech (STP) is laying off about 10% of its employees, idled half its production lines and shelved plans to expand to 1.2GW by the end of the year
– JA Solar (JASO) is seeing customer orders down drastically and half of its … Read the rest
Pacific Ethanol (PEIX) Reports Big Losses On Corn Costs
Pacific Ethanol (PEIX) reported losses that were much worse than expected this morning as the ethanol companies continue to get hammered on plummeting gasoline prices.
Excluding a charge related to asset impairments, the company reported a loss of .51/share while analysts had expected a loss of .15/share. Sales did increase 56% in the quarter but the cost of corn has risen much faster than the price of ethanol sending margins into the red.
“We saw … Read the rest
3rd Quarter Financial Results In For Advanced Battery Technologies (ABAT)
ABAT reported strong 3rd quarter results today. Revenue jumped from $8.6 million dollars in the 3rd quarter of 2007 to $12.7 million in the third quarter of 2008-an increase of 47.7%! Gross profit also increased substantially, from $4.0 million last year to $5.9 million this year, an increase of 47.8%. Net income increased from $3.6 million or $0.07 per diluted share in the third quarter of 2007 to $4.4 million, or $0.08 per diluted share … Read the rest
Energy Conversion Devices (ENER) Announces Supply Deal With Marcegaglia
It’s a busy morning for ENER.. good earnings this morning and a new multi year supply deal with Marcegaglia, a leading Italian steel manufacturing company. Under terms of the agreement, Energy Conversion Devices will supply individual PV cells for used in integrated commercial roofing products that it expects to introduce to the market in 2010.
Mark Morelli, CEO said, “Marcegaglia currently purchases complete solar laminates from USO for incorporation into its existing metal roofing … Read the rest