Think Global has been on its last legs, but is emerging from bankruptcy with a total cash infusion of $47 million from various investors including partner Ener1 (HEV). Ener1 will invest an additional $18 million in the company and convert an additional $3 million in debt for preferred shares, giving the company a 31% stake in the company and securing its spot as lead investor in the company.
As part of the deal, Ener1 receives … Read the rest
Raser just announced that its electric Hummer was able to 50 miles on its battery only in a driving test. The course used included both simulated highway and city driving conditions, and speeds of up to 60 mph.
In a press release, Jim Spellman, Vice President of Business Development, explained the test results and their significance:
“I am very proud of our team and their work to reach this important milestone. Battery range of … Read the rest
Consumer Reports provides an interesting look into the Top 10 cars purchased on Cash For Clunkers rebates and the Top 10 vehicles that were traded in.
Toyota (TM) is the clear winner with its Toyota Corolla taking the top spot, followed by the Honda with its Civic model taking the #2 spot. The Toyota Prius proved popular as well at the #6 spot. Ford is the only US manufacturer in the top 10 (Ford Focus … Read the rest
Sanyo (OTC:SANYY) shares continue to rally along with Panasonic (PC) shares (which plans to merge with Sanyo) on news that Toyota (TM) plans to begin purchasing lithium batteries from Sanyo beginning in 2011 according to a Reuters source who remains anonymous since the info hasn’t been made official yet. Toyota plans to purchase about 10,000 batteries a year and rumor has it that they’ll use it in a minivan hybrid expected to launch in about … Read the rest
Quantum Fuel Systems Technologies’ affiliate Fisker just held the fist public driving demonstration for the Karma PHEV. The demonstration took placeduring the Rolex Monterey Historic Automobile Races at the Mazda Raceway Laguna Seca. The Karma can travel 50 miles on a full battery charge, and after that uses an efficient gasoline engine along with an onboard generator. During the test run, it hit 100 mph without using any gasoline at all. It uses Quantum Fuel … Read the rest
A couple days ago, GM made some pretty gigantic waves in the auto industry when it announced that it expects its upcoming hybrid model, the much anticipated Chevy Volt, to get an astonishing 230 miles to the gallon. And that’s for city driving. Sound incredible? The mixed reviews are sure to straighten out in the days and weeks to come, but for now, there are quite a few decided opinions on the Volt.
Over at … Read the rest
Advanced Battery Technologies (ABAT) reported their earnings during market hours today and missed on both EPS and revenues. Excluding one time gains, the company earned just .03/share which missed the analyst estimate of .08/share and represents a 67% plunge over the year ago quarter. Despite an increase in revenues due to the Wuxi Autocycle acquisition, the company still missed estimates there as well, reporting $13.8 million. That’s a miss of nearly $2 million, but is … Read the rest
It always amazes me at how many ways an earnings report can be spun based on if the company beat analyst estimates and whether the analysis includes one time charges or not. Here at GreenStocksCentral.com I prefer to look at organic growth (exclude one time gains and costs) and since analysts typically exclude one time costs/gains in their calculations as well, it makes sense to do the same for comparison sake. Such is the case … Read the rest
Ener1 (HEV) is still a development stage company so earnings aren’t all that important yet, but for those interested in the quarter, they missed Wall St estimates by a bit. The company did report another big gain in revenues quarter over quarter, posting 7.5 million, but is still far off from being profitable. The company posted a loss of .11/share vs analyst estimates of .10/share. What’s more important than all the earnings right now is … Read the rest
After 18 months of demonstration and testing, it’s official: Altairnano just snagged a contract with Proterra, a company that makes EV and electric buses, worth $898,400. Under the agreement, Altairnano will supply Proterra with its advanced batteries, each of which contain Altairnano’s 1P10S module configuration. In fuel economy equivalency tests at the University of Pennsylvania, electric buses using these batteries were able to obtain 20 miles per gallon- a 400 percent improvement over buses that … Read the rest