Nasdaq officials agreed to grant Advanced Environmental Technologies a temporary reprieve from de-listing after the company submitted an action plan to bring itself back in compliance with Nasdaq’s standards. The company now has a full 180 days, until December 23, 2009, to regain compliance with Nasdaq’s regulations regarding minimum equity or net income. AERT also needs to bring its stock price above $1 per share.
In a press release, AERT CEO, Joe Brooks, commented … Read the rest
A study performed by Archer Daniels Midland Company and Fermanian Consulting, LLC showed that Converted Organics’ Turf Blend 6-0-0 outperformed both synthetic and natural competitors when it comes to growing golf course turf. The study compared Converted Organic’s product to urea and sulfur coated urea, NaturStim Liquid and granular treatments, Milorganite, L-Soy 9 and NaturStim Granular.
In a press release, representatives from Converted Organics and Fermanian Consulting commented on the results:
“This study is significant … Read the rest
Southern Company, which manages and operates the U.S. Department of Energy’s National Carbon Capture Center, just announced that they will be partnering with NRG Energy on advanced carbon capture technologies to capture carbon dioxide produced by coal-burning plants.
The National Carbon Capture Center is expected to be operational in 2010, and to use its partnerships with energy companies to explore ways of capturing and storing carbon dioxide to keep it out of the atmosphere.
In … Read the rest
Clean Harbors just announced that it has earned VPP Star status from the Occupational Safety and Health Administration (OSHA) Voluntary Protection Program for its Kimball, Nebraska Treatment, Storage, and Disposal Facility.
This award is based on the plant’s safety record and is a step up from its previous “Merit” designation. In a press release, the Kimball facility’s general manager, Jared Hunsaker, commented on the award:
“VPP Star is another great accomplishment but we are … Read the rest
Covanta just announced that it has finished the first stage of its acquisition of Veolia’s North American energy-from-waste business. The 7 facilities involved in this stage include one in California, 2 in New York, 3 in Pennsylvania, and one in Canada. Each of the facilities acquired comes with a long-term contract for the energy produced with the associated municipal client.
Covanta expects to complete the acquisition this year by acquiring Veola’s operating contract for a … Read the rest
The Cash For Clunkers program has been wildly successful, burning through the initial $1 billion allocated to the program within a couple weeks. Harry Reid has said that the Senate will OK another $2 billion before the August recess. The obvious beneficiaries are the auto makers and auto parts suppliers, but one pure play may be overlooked and that’s LKQ Corp (LKQX) which is the largest auto parts recycler in the nation with 280 facilities.… Read the rest
Yesterday in the Washington Post, General Electric (GE) CEO Jeff Immelt and famed venture capitalist John Doerr wrote an op ed piece highlighting the failure of the US to take the lead in green energy and the emergence of China as the leader.
Some interesting facts:
– China cars are 35% more fuel efficient
– they spend 10x what the US does as a % of GDP on green energy
– China on track to … Read the rest
The US government announced today that they’ll soon begin accepting applications for around $3 billion in government funds to spur development in renewable energy across the country. Previously, companies could file for a tax credit to cover a portion of development costs, but this provides an immediate infusion of cash to help meet the government’s goal of doubling renewable energy production over the next 3 years.
“This partnership between Treasury and Energy will enable both … Read the rest
Covanta Holdings Corp just announced the purchase of 7 energy-from-waste facilities from Veolia Environmental. Covanta is paying $450 million in cash for the 7 facilities, which are expected to generate $60 million in operating cash flow for the company next year in 2010.
In a story posted on Reuters, the company released the following statement about the purchase:
“Each of the seven EfW businesses to be acquired includes a long-term operating contract with the … Read the rest
Advanced Environmental Recycling Technologies is trying to maintain its place on the NASDAQ stock exchange, but the company is moving ever closer to being de-listed, according to this press release. On June 26, AERT received a NASDAQ Staff Determination letter advising the company that its request to stay on the exchange has been turned down. The company has a recapitalization that it believes will allow it to regain compliance, but the plan’s timeline is … Read the rest