American Superconductor (AMSC) announced earlier today that it acquired a 25% stake in UK based Blade Dynamics, a designer and manufacturer of advanced wind turbine blades for $8 million in cash and will gain one seat on the Board. Blade Dynamics designs increase efficiency and performance of high power wind turbine blades. Dow Chemical (DOW) also purchased a minority stake in the company.
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AMSC CEO … Read the rest
Energy Focus announced this morning that Stones River Companies, LLC, its lighting retrofit division, has snagged $2.8 million in new lighting energy services contracts. The 7 new contracts announced today include upgrading the lighting at multiple locations of a major healthcare system, upgrading lighting in three elementary school districts and upgrading the lighting at four fortune 500 industrial facilities.
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In a press release, Rob Wilson, … Read the rest
RINO International (RINO) beat analyst estimates after the bell today and reaffirmed guidance. The company posted a Q2 non-GAAP EPS of $0.54, 12 cents better than the analyst estimate of $0.42 on revenue of $65.4 million, which was better than the estimate of $50.93 million. That represents quarter over quarter growth of 35% on the EPS side and 61% on the revenue side.
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Here are … Read the rest
Piper Jaffray has resumed coverage of a few smart grid stocks according to Street Insider.
Comverge (COMV) at Overweight and $12 price target.
“We believe Comverge’s diversified demand response platform, and growing presence in the commercial & industrial (C&I) segment, will result in significant revenue growth over the next 2 years with a healthy profitability inflection point being reached in 2H11.”
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Itron (ITRI) at Neutral … Read the rest
LDK Solar (LDK) announced that they have been invited by Anhui Provincial Governmen to invest in a solar cell and module facility in Hefei High-Tech Industrial Development Zone to establish a renewable energy manufacturing hub in the Province. The facility will include an annual capacity of 1.0 GW of solar cells and 500 MW of solar modules with production expected to begin Q2 2011. Hefei High-Tech Construction and Investment Group will provide financing of RMB … Read the rest
Kandi Technologies (KNDI) reported strong results this morning posting an EPS of .06 on revenues of $9.9 million. No analysts currently cover the company to compare results. That’s a 500% jump in EPS and an 80% jump in revenue over the year ago quarter. Its top selling product, the all electric COCO LSV, accounted for nearly half of its revenues with most of that coming from sales in the US.
China Wind Systems (CWS) beat analyst estimates this morning posting a Q2 EPS of $0.12, vs the analyst estimate of $0.10 on revenues of $19 million vs the analyst estimate of $17.4 million. Quarter over quarter, that’s a 33% jump in EPS and a 40% increase in revenues, so a nice quarter from CWS. The company is making good progress in transforming more into a wind energy manufacturing company which now makes up 48% of … Read the rest
Veeco Instruments just announced that it will be selling its metrology business, Veeco Metrology, to Bruker Corporation in order to focus on building its LED, solar and data storage businesses.
In a John R. Peeler, Veeco’s Chief Executive Officer, explained the rationale for selling Veeco Metrology:
“We believe the sale of Metrology will allow us to accelerate our progress developing new products, gaining share, and aligning with key customers in markets with large growth opportunities, … Read the rest
Piper Jaffray is out reiterating an Overweight rating on Tri-Tech Holding (TRIT) this morning. Hat tip to Street Insider for the analyst comment.
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“We expect management’s tone to remain upbeat regarding the outlook as China embarks on significant water infrastructure expansion. TRIT’s proprietary products & services position the company well to capitalize on this large market opportunity. We do not anticipate significant changes to our FY10 … Read the rest
Nexxus Lighting (NEXS) posted mixed earnings results this morning, missing on EPS but beating on the revenue side. The company posted an EPS loss of .12 vs the analyst estimate of a .10/share loss. Revenues came in higher than the analyst estimate of $3.15 million at $3.75 million. On the bright side, the EPS loss was considerably narrower than the year ago loss of .22 and revenues increased 43%. Sales of the Array line of … Read the rest