Clean Energy Fuels (CLNE) has signed a contract with Republic Services (RSG) that expands their relationship to include three Republic divisions in California through April 2015. CLNE will be be providing 3.5 gallons of LNG fuel for these operations each year, reducing emissions by up to 23%.
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CLNE CEO Andrew Littlefair commented: “Republic is the nation’s second largest solid waste company and we are delighted … Read the rest
It’s a busy afternoon for Hoku Scientific (HOKU). The company announced a revised agreement with Suntech Power (STP) which excludes Suntech from having to prepay $30 million for future shipments of polysilicon, but potentially allows Hoku to keep the $2 million already paid which will be credited to future shipments. The terms have also been shorted to one year and Hoku isn’t obligated to ship polysilicon until next June.
LDK Solar (LDK) announced after the bell today that during their preparation of the 2009 annual report, they determined an additional provision for doubtful recoveries of approximately $12.6 million for its accounts receivable and prepayment to suppliers. The revised financials were based on updated information about its customers repayment ability and its suppliers ability to honor existing contractual terms for delivery of products or refund of amounts paid.
Shares are hanging in there after the … Read the rest
Earlier this month, we reported that Pacific Ethanol’s Chapter 11 bankruptcy plan had been approved and that its four plants would soon be out of bankruptcy. That plan went into effect yesterday and the plants are now officially out of bankruptcy, having been transferred to a holding company called “New PEHC.”
Pacific Ethanol will continue to operate the plants and market the ethanol they produce via a fee and profit-sharing arrangement.The plan has wiped $290 … Read the rest
US Ecology just announced that it is one of three companies selected to handle the PCB-contaminated waste that will be generated by GE’s environmental dredging project to clean up the Hudson River.
The waste will be disposed of at US Ecology’s Grand View, Idaho facility.
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In a press release, US Ecology’s President and Chief Executive Officer Jim Baumgardner commented on the news:
“We are very … Read the rest
GE Lighting just announced that it has signed an licensing agreement with Rambus Inc. to use Rambus’ LED product designs and manufacturing knowledge to develop a flat-panel LED lighting system that can be used in architectural and commercial lighting.
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In a press release, Michael B. Petras, Jr., president and CEO of GE Lighting, commented on the news:
“One … Read the rest
All the hype around Tesla Motors (TSLA) appears to have investors clamoring for a piece as the company increased the share offering by 20% and priced at $17/share which is higher than the expected range of $14 – 16, raising nearly $50 million more than expected. Elon Musk must be a very happy man this morning.
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Now that the IPO is behind them and a smashing … Read the rest
Raser Technologies (RZ) is surging 25% this morning after announcing it will develop solar power and electric cars with Korea based, global manufacturer Hyundai Heavy Industries. This is the same company working with American Superconductor (AMSC) to develop wind energy.
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This isn’t yet a done deal with contracts signed, but the two companies have signed a memorandum of understanding to co-develop solar power and electric vehicles … Read the rest
I just posted about a few US solar companies Goldman Sachs (GS) initiated coverage on and here is the China solar coverage. Again, hat tip to Street Insider for the ratings this morning.
JA Solar (JASO) initiated with a Conviction Buy rating and $7.50 price target. It’s calling JASO it’s “top pick”, citing an improvement to cash returns and a better looking balance sheet than its solar competitors. Shares are up nearly 5% today. Get … Read the rest
Veeco just announced that the State of Minnesota has awarded them $800,000 worth of matching funds for a 1.5 year project to help Veeco’s copper, indium, gallium and selenium deposition equipment technology for solar panel manufacturers move more quickly to market. Veeco’s technology is designed to reduce manufacturing costs for solar panels and bring them closer to grid parity. The funds were awarded as part of the American Recovery and Reinvestment Act.
In a press … Read the rest