According to Reuters, Johnson Controls just announced that it will increase its Chinese production of car starter batteries to 30 million per year by 2015. To fuel this increased output, Johnson Controls expects to build 3 or 4 more plants.
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Alex Molinaroli, president of Johnson Controls’ power solutions unit, says that industry shakeout will likely occur as supply for hybrid/electric car batteries exceeds demand. He … Read the rest
We will be covering a new green stock here at Green Stocks Central. Cereplast (CERP), bioplastics extraordinaire, debuted with its IPO back in April, but it’s been a downward slide in the stock ever since. After reaching a high of 5.74 just a couple days after trading on the Nasdaq, it has plummeted to 3.50 and touched below 3 a few days ago. It has been a wild ride.
Kyodo News (via Street Insider) is reporting that Toyota and Tesla will co-develop a prototype electric car by year end and this is according to Toyota sources.
It was announced on May 21st that Toyota would invest $50 million in Tesla Motors and would partner to produce the Model S electric sedan at a recently closed Toyota/GM plant in Fremont, California. It’s not clear what the prototype will be, but I assume it will … Read the rest
Pacific Ethanol just announced that its Chapter 11 bankruptcy plan has been approved and its plants will soon be out of bankruptcy protection. The restructuring plan gets rid of t $290 million in debt. The four plants that PEIX owns will be transferred to a holding company owned by its lenders, but PEIX will continue to run them.
For up to $30 million, the plan also gives PEIX the option to purchase 25 percent equity … Read the rest
Goldman Sachs slashed its price target on A123 Systems (AONE) this morning from $15 to $9, but kept the Neutral rating following a meeting with management. The firm raised 2010-2012 revenue estimates, but forecasts larger EBITA losses. The firm raised 2010 revenue estimates form $139M to $141M, 2011 from $262M to $276M and 201 from $416M to $431M. EBITA loss estimates rise from ($76M) to ($98M) for 2010, ($44M) to ($67M) for 2011 and $13M … Read the rest
Just a few analyst rating changes/price target adjustments today.
Morgan Stanley has cut the price target on First Solar (FSLR) from $160 to $145 this morning, but maintains its Overweight rating. This follows price cuts from Citi and Hapoalim yesterday. Shares are holding up well today, up about 2% and continue to hold the key $100 level. Click Here For Your FREE First Solar Analysis
Macquarie initiated coverage on Westport Innovations (WPRT) with a Buy … Read the rest
U.S. Geothermal (HTM) is making its way back to the buck level this morning on news it has been offered a conditional commitment for a $102.2 million loan guarantee from the Dept of Energy to help construct the 22MW geothermal plant at Neal Hot Springs in Eastern Oregon. The company already has a 25 year power purchase agreement in place for Neal Springs with Idaho Power which is Idaho’s largest utility.
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Advanced Battery Technologies just announced that it has received an order for its electric motorcycles worth $1.1 million from All-Power America. This marks the first time that Advanced Battery Technologies’ electric vehicles will be available on the American market, and the company plans to deliver 2,000 of them to All-Power America by the end of the month.
In a , Mr. Zhiguo Fu, CEO of ABAT, commented on the news:
“This new order is an … Read the rest
A-Power Energy (APWR) missed analyst estimates on both the EPS and revenue side this morning, but is surging about 10% in pre-market trading after raising guidance for this year. The company reported a non GAAP Q1 EPS of $0.05, versus the analyst estimate of $0.22. Revenue for the quarter was $67.30 million, which compares to the estimate of $82.05 million. The non GAAP EPS number excludes significant one time gains during the quarter which include … Read the rest
Like Evergreen Solar, JA Solar is also unveiling a new line of high efficiency solar cells. The new product line, called SECIUM, has been certified with an 18.9 percent conversion efficiency by the Fraunhofer Institute for Solar Energy Systems.
In a press release, Dr. Peng Fang, CEO of JA Solar, commented on the new product:
“The launch of our SECIUM solar cells illustrate the company’s commitment to develop cutting-edge process technology for next-generation, high … Read the rest