As we’ve been covering here for some time, General Electric (GE) has been reinventing itself as a green energy behemoth, beginning with a focus on wind energy, then the smart grid and more recently led lighting and solar. They’ve even developed an electric car charging station called the WattStation.
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This morning they are announcing another big step along the path of its rapid push into … Read the rest
A-Power Energy (APWR) is plunging more than 10% in early trading this morning after it announced it had received a demand for arbitration from General Electric (GE) for alleged breaches of contract related to gearboxes for wind turbines.
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A-Power indicated it hasn’t decided how to respond or what impact arbitration would have on its financials.
For those that follow APWR, you might remember that back … Read the rest
General Electric (GE) is continuing to emerge as a clean energy behemoth and has in particular made big strides in the smart grid space in just the past several months. In the last half of last year the company purchased two smart grid software companies – Energy Control Systems in August and Opal Software in October. A couple days ago they announced the acquisition of Remote Energy Monitoring which provides software and hardware solutions … Read the rest
A-Power Energy (APWR) is retracting a statement it made during its last earnings conference call regarding their joint venture with General Electric (GE) and the wind turbine gearbox being designed by GE for APWR. During the call the CEO said they were in talks to buy GE China’s interest in their joint venture that makes wind turbine gearboxes, and would terminate a related supply deal with the U.S. firm. Now the company is retracting the … Read the rest
General Electric (GE) has announced the largest single purchase of electric vehicles in history this morning – 25,000 to be exact. The vehicles will be purchased beginning next year with an initial purchase of 12K GM made Chevy Volts to achieve its goal of converting about half of its entire fleet to electric. This is a bold and important move from GE and the kind of action that will continue to help drive down the … Read the rest
The wind energy industry continues to struggle and Vestas Wind (VWDRY) is confirming what General Electric is seeing .. weak demand. GE went so far as to say the US wind energy market has collapsed. Vestas hasn’t made similar claims, but their actions speak much louder than words.
The company is cutting 3000 jobs and shutting plants due to shrinking power demand, rising component costs and uncertain US policy. So much for Obama’s push to … Read the rest
General Electric (GE) will announce the launch of its 40W LED bulb for the household in about a month and now comes news that the company has developed a prototype 100W LED bulb that uses jet engine technology for noise and heat reduction. The 1500 lumen bulb is half the weight and size of the 600 lumen bulb that’s on the market today and was co-developed with the University of Maryland using a 2 year … Read the rest
General Electric (GE) reported earnings on Friday, disappointing investors with poor results out of its energy infrastructure division. The CFO went so far as to say that the US wind market has collapsed with a 15% year over year decline in wind related business.
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Here are some highlights of the conference call related to their wind energy biz (transcript via Seeking Alpha)
Keith … Read the rest
Yesterday, LED stocks such as Cree Inc (CREE), Aixtron (AIXG) and Veeco Instruments (VECO) got a boost when the head of GE’s lighting unit Michael Petras said in a Bloomberg article that he anticipates LED lighting could account for as much as 75% of their sales in the unit within the next 10 years (compared with just 10% now).
Demand for LED will began to surge very soon due to the phasing out of the … Read the rest
General Electric (GE) is continuing to reinvent itself, putting the pieces in place to become an alternative energy behemoth. They are best known for their wind turbine business and sell their turbines all over the world, but the company aims to be a big player in solar and smart grids as well. They announced their thin film solar product will be available next year and this morning they have announced another purchase of another smart … Read the rest