Valence Technology just announced that the company has joined a team of yachting industry leaders committed to developing a hybrid bluewater yacht and bringing it to market. Other team members include custom yacht builder Foundation Beneteau Yachts, marine diesel engine company Volkswagen AG and Tier 1 driveline integrator ZF Marine. Valence will provide its lithium-ion battery systems for the yachts.
Valance Technology just announced a deal with private equity firm Seaside 88, according to this article in the Austin Statesman. Under the terms of the deal, Seaside will buy up to 16.9 million shares at a discount from Valence over the next year. Seaside 88 purchased 650,000 shares on Thursday. The deal gives Valence a much-needed cash infusion.
In the Statesman article, Valence co-founder and chairman Carl Berg, who has been largely meeting the cash … Read the rest
Arotech just announced that it has received $3 million worth of orders for rechargable lithium-ion batteries, chargers and related components. Arotech focuses on supplying the military, police departments and private security firms. The chargers will recharge unmanned air vehicles and the batteries will power night-vision goggles.
In a press release, Robert S. Ehrlich, Chairman and CEO of Arotech Corporation, commented on the orders:
“The orders confirm our world-wide customers’ continued satisfaction with our range … Read the rest
This Friday at noon, Indiana Senator Evan Bayh will be an honored guest of EnerDel (HEV) at a ceremony marking the commissioning of the country’s first commercial scale production line for lithium-ion battery packs. To meet anticipated demand, EnerDel plans to expand the plant in Indiananopolis, pack assembly capacity at its Noblesville plant and may expand further through the purchase or construction of a 3rd plant. Anticipated annual production is currently in the neighborhood of … Read the rest
Johnson Controls (JCI), a conglomerate involved in lithium battery production and building efficiency reported mixed earnings this morning posting an EPS 1 cent better than expectations at a loss of .16 share (it’s the 2nd straight quarter of losses) on revenues of 6.3 billion vs the consensus of 6.93 billion.
Here are some highlights regarding the green energy segments of its business:
Building Efficiency
– Excluding currency fluctuation, building efficiency sales were down 2% to … Read the rest
General Electric (GE) continues to invest in Michigan based, lithium ion batter maker A123 Systems, providing another $15 million in financing and gaining a seat on the board in exchange. This follows the recent announcement that A123 Systems was selected by Chrysler to develop lithium batteries for their line of electric vehicles due out in 2013.. assuming of course Chrysler stays in business or is bought out. GE now owns about 10% of A123 Systems … Read the rest
MDB Capital came out today and upgraded Ener1 (HEV) with a Buy rating and a price target of $5.50. They believe the shares are compelling down at these levels due to the pipeline of potential customers including the possible reemergence of Think Global later in the year.
“We are revising our earnings model and now anticipate revenues in 2009 of $41 million (roughly $28 million coming from Enertech) and $77.5 million in calendar 2010. With … Read the rest
According to GreenTech, Ener1 (HEV) which currently manufacturers lithium ion batteries for electric cars is expanding into other markets such as utility grade storage and military applications. The CEO said at the Jefferies Global Clean Technology conference that they are working with a few utilities on smaller power grid storage units. On the military side, the company is working on hybrid tanks and unmanned aerial vehicles with potential orders of $7 million.… Read the rest
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