Ener1 (HEV), the developer of lithium ion technology for electric cars, reported a 4th quarter revenue surge but the development stage company continues to rack up losses on the earnings side of the coin. The company reported record quarterly revenue of $6.3 million but lost .12/share in the quarter due to an increase in R&D and admin costs.
The company finished 08 with $14 million in cash along with a $30 million loan facility to … Read the rest
A hat tip to Earth2Tech for laying out the components in the $410 omnibus bill that represent clean energy and climate change. The “imperfect omnibus bill” was signed into law by Obama today behind closed doors. Here’s to more government waste but at least there are some clean energy bucks in there..
* EPA gets $7.6 billion (increase of $174 million over last year). $224 million for grants to states to implement the Clean Air … Read the rest
They put two hybrid electric future heavy trucks through Military Utility Assessment at Fort Lewis, Washington. The two trucks, which are equipped with UQM 120 kW) hybrid electric propulsion systems, have already passed a test run at the U.S. Army’s Aberdeen and Michigan Proving Grounds.
William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc, commented on the tests:
“We are pleased to be a member of the Armor Holdings team and have … Read the rest
MarketWatch reports that BorgWarner has announced it will stop paying its quarterly dividend temporarily, until global economic conditions become more favorable. According to Timothy Manganello, chairman and CEO, BorgWarner will start return to paying its .12/share quarterly dividend "as soon as the automotive industry returns to a normalized level of activity."… Read the rest
A new report from GreenBiz.com and Automotive Fleet Magazine shows that ComEd, a unit of Exelon Corporation, has the nation’s seventh largest fleet of green vehicles. Among other utility companies, ComEd comes in second only to PG & E. ComEd’s fleet, which consists of 2,168 vehicles, reduces the company’s greenhouse gas emissions by approximately 4.200 Metric tons annually. Terence Donnelly, ComEd senior vice president of Transmission & Distribution, commented on the report in a press … Read the rest
Here’s the text of Obama’s speech last night related to energy:
We know the country that harnesses the power of clean, renewable energy will lead the 21st century. And yet, it is China that has launched the largest effort in history to make their economy energy efficient. We invented solar technology, but we’ve fallen behind countries like Germany and Japan in producing it. New plug-in hybrids roll off our assembly lines, but they will run … Read the rest
The recovery plan that GM submitted to the government depends heavily on the downtrodden automaker’s ability to turn itself into a leaner and greener company. Earth2Tech.com reports that the company validates its intentions to create jobs for Americans and help combat climate change by referencing the following:
… Read the restThe Michigan assembly plant planned for the Volt battery pack, and a nearby lithium-ion battery development program. What’s the one vehicle it names in the stated plan to
Here’s some good news for all of you Volkswagon fans: Volkswagon and Toshiba have signed a letter of intent to develop an electric version of the VW Up! concept car, according to SustainableBusiness.com.
Here are some excerpts from a statement released by Volkswagon regarding the partnership:
… Read the rest“The objective is a cooperation for the development of electric drive units and the accompanying power electronics for Volkswagen’s planned new small (car) family,” Volkswagen reportedly said in a
Now that Congress has approved the economic stimulus package (aka the American Recovery & Reinvestment Act) with Obama expected to sign it into law on Tuesday I thought I’d give a run down of what’s in this bill related to green energy initiatives.
Overall, nearly 10% of the entire bill provides funding and tax credits for green energy related projects.
* $11 billion in spending and loan guarantees to build a “smart grid” to move … Read the rest
Last week it was the electric bus that debuted in California and this weekend 3 hybrid-electric motorcycles developed by Advanced Battery Tech (ABAT) and Wuxi Angell Autocycle make their debut at the Dealer Expo in Indianopolis. The motorcycles are equipped with 48V lithium ion battery packs that are in use at low speeds but the bike kicks into the gasoline engine at higher speeds, recharging the battery as it does so. The companies claim a … Read the rest