A new company jumped into the electric vehicle market this week. Coda Automotive announced plans to sell an all-electric, four-door sedan
in California by the fall of 2010. The vehicle will be called the Coda,
and the company said it will have a 100-mile range and sell for about
$45,000 before federal and state incentives. It will be manufactured in
China by state-owned Harbin Hafei Automotive, and it will be powered by
lithium-ion batteries made by Tianjin Lishen Battery Joint-Stock Co.
Coda Automotive said the vehicle will fully charge in six hours when
plugged into a 220V outlet.
Sustainable business leader Herman Miller (Nasdaq: MLHR) is diversifying beyond furnishings. The company's subsidiary Convia, Inc. has developed a high-tech, flexible-use wiring
system
that aim to reduce real estate and building operating costs. The
technology integrates a facility's power delivery and other
infrastructure and technology applications, including lighting, HVAC,
and occupancy and daylight harvesting sensors into an energy efficient,
easy-to manage platform. The company announced a strategic partnership
to embed the technology into wire and cable management systems designed
by Legrand North America.
Germany's Siemens (NYSE: SI) broke ground
on a new wind
turbine manufacturing plant in Shanghai, marking the company's entry
into China's wind energy market. Siemens Wind Power Blades (Shanghai)
Co., Ltd., with an initial
investment of RMB 581 million (EUR 64 million), is expected to begin
operation in the second half of 2010. The new production site will
initially produce blades for 2.3 and 3.6 megawatts (MW) wind turbine
plants, and plans include produce turbine nacelles at a later stage.
However, Reuters reported this week that foreign wind turbine makers--such as Vestas (VWS.CO), Gamesa (GAM.MC) and Suzlon
(SUZL.BO)--are complaining that despite efforts to meet state
regulations, they are unable to win contracts in the fast-growing wind
market. The government requires the turbine makers to source and build
70% of their equipment in China, but officials said there is no
discrimination against foreign firms.
Siemens (NYSE: SI) also announced it is acquiring a 25% stake in German renewable energy developer BGZ AG.
The company develops, finances and operates renewable power facilities
like wind, solar and biomass power plants. In 200, BGZ generated about
EUR 50 million in revenue and has installed more than 950 MW of wind
power capacity. Financial terms were not disclosed.
Danotek Motion Technologies opened a manufacturing center
in Canton, Michigan for wind turbine generator. The company makes a
uniquely designed, variable speed turbine generator that has drawn
venture capital from the GE (NYSE: GE) and StatoilHydro (NYSE:
STO), among others. The company says its Permanent Magnet Generators
are more efficient and reduce wear-and-tear on equipment, saving $1
million dollars per turbine over the life of the system.
GE Energy Financial Services (NYSE: GE) has signed an
agreement with EarthFirst Canada Inc. (TSX: EF, EF.WT) to consider
purchasing the Dokie Ridge Wind Project, which is the
largest wind farm project under construction in British Columbia. GE has agreed to form a
partnership with Plutonic Power Corporation
(TSX: PCC), which will own and operate the project. Phase 1 of theis
partially build and will have a capacity of 144 megawatts (MW). The
entire project is planned for 300 MW.
Lithium-ion battery maker Boston-Power, Inc., announced plans
to build its first U.S. manufacturing facility in
Auburn,
Massachusetts. The facility is expected to create 600 new jobs. The
company also unveiled a battery called Swing that is designed for
Plug-in Hybrid and Battery Electric Vehicles (PHEV/BEV). The company
currently manufactures batteries for electronics in China. Boston-Power
is seeking
approximately $100 million under the U.S. Department of Energy's
advanced battery and cell manufacturing grant program, which was
established as a
part of the American Recovery and Reinvestment Act.
Landis+Gyr, a company focused on smart grid solutions for utilities, announced a five-year advanced
metering contract with AEP Texas, which is a unit of American Electric Power(NYSE:AEP).
Under the agreement, Corpus Christi-based AEP Texas will
deploy 700,000 of Landis+Gyr's GridstreamTM meters across its Texas
service territory. The meters allow two-way connectivity with home area
network devices and will allow AEP
Texas to send energy consumption information and real-time pricing to
consumers.
