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Phoenix Motorcars to Build EVs in Mexico

Electric vehicle company Phoenix Motorcars plans to build electric cars in Mexico for shipment throughout Latin American and Indian sub-continent markets. The California-based company inked an agreement with Pristine International SAdeSV for a joint-venture manufacturing plant in Puebla, Mexico on 18 acres of land provided through the efforts of Puebla’s governor, Mario Marin Torres. Phoenix announced that Volkswagen of Mexico will also be a participant in the venture. Phoenix Motorcars says it has taken orders for more than 500 fleet-ready vehicles for 2008 delivery and continues to target United States premier fleet operators with an all-electric mid-size Sport Utility Truck and SUV. Phoenix claims its battery-electric, Sports Utility Truck can travel at freeway-speeds while carrying five passengers and a full payload, with a driving range of over 100 miles on its lithium-titinate battery. The company says the battery can be recharged in less than 10 minutes and has a life of greater than 250,000 miles. ABOUT PHOENIX MOTORCARS, INC. Phoenix Motorcars Inc., is headquartered in Ontario, Calif. The mission of Phoenix Motorcars is to manufacture zero-emission vehicles including Sport Utility Trucks and Sport Utility Vehicles. Website: http://www.PhoenixMotorcars.com     

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Innergex Prepares for IPO

Innergex Renewable Energy Inc. is preparing for an initial public offering of its common shares. The company has filed a preliminary prospectus for the offering, which will be underwritten by BMO Nesbitt Burns Inc. and CIBC World Markets Inc. The two will act as joint bookrunners for the offering. About Innergex Innergex Renewable Energy Inc. develops and operates renewable power generating facilities and is active in the Canadian renewable power industry with a focus on hydroelectric and wind projects. Following the closing of the proposed initial public offering, Innergex Renewable Energy will own 16.1% and remain the Manager of the Innergex Power Income Fund, a publicly traded income fund listed on the Toronto Stock Exchange. In addition, the Corporation will own a portfolio of projects which consists of one operating facility (8 MW), interests in nine development projects with power purchase agreements (gross expected capacity of 565 MW) under construction or to be constructed between 2008 and 2012 and 21 prospective projects (gross expected capacity of 1,638 MW). Website: http://www.sedar.com     

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IPCC Concludes Meetings

United Nations Climate experts from more than 130 nations wrapped up their meetings in Valencia, Spain on Saturday, presenting a summary of more than 3,000 pages of scientific reports produced on global warming in the past year. The 26-page summary, agreed upon by the members of the Intergovernmental Panel on Climate Change (IPCC) after several days of debate, will be provided to environmental ministers and policy makers from around the world before the UN Climate Change Conference in Bali, Indonesia next month. The Bali Conference will focus on creating a two-year timetable for negotiating a successor to the Kyoto Protocol, which is currently the main UN plan for fighting global warming. The Kyoto Protocol only applies to 36 industrialized nations (not including the U.S. and China) through 2012. The summary brings together information from three separate reports published by the IPCC in February, April and May of 2007 asserting that mankind is responsible for global warming. The February report said there was more than 90% probability, or “very likely” that the burning of fossil fuels had caused most of the earth’s warming in the past 50 years. The April report described the probable worldwide impacts of warming, including food and […]

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Japan Improving Environmental Rep

Japan is taking steps to bolster its environmental leadership on the world stage. Reportedly Prime Minister Yasuo Fukuda plans to pledge more than US 1.8 billion in loans for environmental projects in Asia at a summit of the region’s leaders next week in Singapore. In addition, Japan was the first country to connect to the UN’s new carbon trading system last week, enabling the country to begin purchasing carbon credits to meet its goals under the Kyoto Protocol. Recently, the nation, whose ancient capitol hosted and gave its name to the Kyoto Protocol, has been criticized for failing to reduce emissions quickly enough to meet target obligations set by the initiative to combat global warming. Japan’s emissions last year were 13% above the average level of greenhouse gas (GHG) emissions it has pledged to meet over the next five years, according to a government report. The nation is the world’s fifth biggest emitter of GHG. According to Japan’s Ministry of Environment, the country has received 8.6 million tons of carbon credits since connecting to the International Transaction Log (ITL), which was put into service last week by the UN to track carbon credit trading under the Kyoto Protocol’s Clean Development […]

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Carbon Credit Standard Launches

The Climate Group, a nonprofit organization of businesses and environmentalists is launching a new standard for carbon emissions credits today on the London Stock Exchange, in an effort to provide a reliable system of verification for purchases of carbon offsets. The London-based group says it aims to assure businesses that the carbon credits they buy are genuine and truly represent emissions-cutting projects. The new standard called the Voluntary Carbon Standard (VCS) will be applicable to projects located around the world–each credit representing an offset of a ton of carbon emissions. The program also establishes a single database to track the credits to ensure their authenticity. The Climate Group says the rigour and transparency of the new VCS will boost market confidence for many companies and individuals keen to take a lead on tackling climate change by going carbon-neutral. They believe the international standard will drive greater investment into credible offset around the world. The VCS is the result of a two-year consultation with the industry, NGOs and market specialists, led by The Climate Group, the International Emissions Trading Association (IETA) and the World Business Council for Sustainable Development (WBCSD). Mark Kenber, Policy Director of The Climate Group and co-chair of […]

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Maxwell Enters Long-Term Deal with Chinese Battery Co.

Energy storage company Maxwell Technologies Inc. (Nasdaq: MXWL) has signed a deal with one of China’s largest producers of rechargeable lithium-ion batteries to create new “hybrid” energy storage products. Tianjin Lishen Battery Joint-Stock Co., Ltd., will combine its battery technology with Maxwell’s ultracapacitors. David Schramm, Maxwell’s president and CEO, said that the companies see a large market opportunity for products that leverage the complementary strengths of double layer capacitor and li-ion battery technologies. “We believe that the products we envision will give end-users the best of both worlds in terms of the long cycle life, rapid charge/discharge characteristics and low temperature performance of ultracapacitors and the large energy storage capacity of lithium-ion batteries,” Schramm said. Schramm also said Maxwell intends to move some of its product assembly to Lishen. The AP reported that Maxwell shares surged to $11.39 in premarket trading, up 14.7% from Friday’s closing price of $9.93. About Lishen Tianjin Lishen Battery Joint-Stock Co., Ltd., claims to be China’s leading producer of rechargeable lithium-ion batteries with 2007 sales estimated to reach approximately $200 million. In 2006, Lishen was ranked eighth among Forbes Magazine’s Top 100 High Potential Chinese Enterprises. For additional information, visit http://www.lishen.com.cn. About Maxwell Maxwell manufactures […]

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