Valence Technology (VLNC) could use some good news. It’s been trading under a buck now for nearly three months. It got some after the bell today with the announcement of a $13 million order from Smith Electric Vehicles for the U-Charge lithium phosphate energy storage solutions which will be used in Smith electric trucks through the end of the year. Smith is the nation’s top manufacturer of electric commercial trucks with its Newton line.
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It’s a busy day on the green energy front for General Electric (GE). Earlier, they announced their $200 million Ecomagination Challenge and have also introduced their WattStation electric car charging system which decreases charging times and allows utilities to manage the impact on the local grid.
The charger decreases average full charge times of 12 – 18hrs for a standard level 1 charger to 4 – 8hrs. It will be available commercially on a … Read the rest
Several analyst rating notes to make you aware of today. Hat tip to Street Insider for the analyst notes.
Needham & Company has initiated coverage on AONE, HEV and VLNC.
Initiated coverage on A123 Systems (AONE) with a Hold rating and $10 price target. “Although we believe that A123 Systems has the potential to be a successful company in the long term, there are several near-term risks that could negatively affect AONE shares. The intellectual … Read the rest
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
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
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
Valence Technology just announced that they have received a new purchase order from Enova Systems for Valence’s U-Charge dynamic energy systems. The energy systems will be used in a fleet of 16 new Navistar IC CE Series hybrid-electric school buses.
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In a , RJ Adleman, Valence Technology’s Vice President of Sales and Marketing, commented on the order:
“School districts across the U.S. trust Enova Systems and … Read the rest
Valence Technology just announced that it has signed a supply agreement with Optare PLC. The 3-year, exclusive supply agreement makes Valence the exclusive battery supplier for the Optare Solo EV zero-emissions electric bus. The agreement is expected to generate up to $3.8 million in battery sales for Valence.
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In a press release, Robert L. Kanode, president and CEO, Valence Technology, commented on the news:
“This appointment … Read the rest
Advanced Battery Technologies has released guidance for 2010. The company expects revenue of $100 to $110 million and net income of $32 to $36 million this year, excluding any unforeseen impact from future acquisitions or fair value change of outstanding warrants.
In a press release, Mr. Zhiguo Fu, CEO of ABAT, commented on the news:
“Advanced Battery is acutely aware of the current global economic conditions and we have cautiously moved forward with our business … Read the rest