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Evergreen Solar Reports Q3 Results

Evergreen Solar, Inc. (Nasdaq: ESLR announced financial results for the third quarter ended September 29, 2007. The company reported significantly higher sales, higher margins, and smaller losses. Product sales were to $15.4 million compared to $13.4 in Q207 and $36.2 million in Q306, which included $25.4 million of sales generated by EverQ, whose results were consolidated with Evergreen Solar until the ownership change in December 2006. Total worldwide sales of String Ribbon product were $62.9 million, which includes $47.5 million of sales generated by EverQ, compared to $44.7 million in the Q207, including $31.3 million generated by EverQ. EverQ’s new 60 MW facility shipped its first solar panel late in the second quarter and is expected to reach full capacity by the end of 2007, as scheduled. Gross margin was $4.5 million, or 24.9%, including fees of $2.8 million related to the marketing and sale of EverQ panels by Evergreen Solar and royalty payments for Evergreen Solar’s technology contribution to EverQ. In Q207, gross margin was $3.4 million, or 22.3%, including EverQ fees of $2.0 million. In the Q306 gross margin was $5.7 million, or 15.7%, which included EverQ factory start-up costs. Net loss was $3.7 million, or $0.04 per […]

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DayStar Announces $63.8M PUblic Offering

DayStar Technologies, Inc. (Nasdaq: DSTI), which is developing CIGS thin film solar technology, has priced its 15 million share public offering at $4.25 per share. DayStar plans to use the proceeds to completely pay down its $9.2 million debt and to engineer to-scale and manufacture the company’s proprietary deposition tool. The remaining funds will go toward construction of a 25MW manufacturing line, working capital and other general corporate purposes. ThinkEquity Partners LLC acted as bookrunning lead manager for the offering with Broadpoint Capital, Inc. acting as co-manager.

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Market for Green Homes Rising

According to the latest Green Homeowner SmartMarket Report, the market for green homes is about to boom. The market for green homes is expected to rise from the current $2 billion to $20 billion over the next five years. Standard homes are becoming increasingly green, with homeowners using green products for 40% of their remodeling work, especially windows and heating and cooling systems. They’re learning about green products mostly through word of mouth, but also from TV and the Internet. Homeowners are buying green homes because they are concerned about the health of their families, as well as to reduce energy and other home operating costs. Education and awareness of green products continues to be the most important obstacles, slightly higher even than the additional first costs associated with building green. “Our findings are particularly powerful because they point to the reasons behind the market trends we’re seeing of the increasing number of green homes,” says Harvey Bernstein, vice president of industry analytics, alliances and strategic initiatives for McGraw-Hill Construction, which conducted the study. “People are spreading the word about their green homes, which is most effective because that’s how buyers are hearing about the opportunities of green. It’s a […]

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First LEED Platinum Building in Middle East, Guess Where?

The headquarters of Pacific Control Systems is the first LEED-Platinum building in the Middle East and the 16th in the world Pacific Control Systems, an automation company with operations around the world, inaugurated its headquarters in Techno Park, Dubai. The award winning headquarter building has achieved LEED certification from the USGBC, accumulating a total of 55 points. The Green building has already won two international awards one at Boston in June 2007: as the “Extreme Office Building in the world”, “Digie Award” against Taipei 101 and Shanghai Financial Centre; and the Best Intelligent Building in the World in, Chicago Buildcon 2007. CEO Dilip Rahulan said, “Our headquarter building is built in line with our commitment to the UAE government’s drive towards achieving sustainable development in the region. It is our belief that our initiative will set a new benchmark for other green development projects in the UAE and elsewhere, demonstrating our commitment to environmental stewardship and Corporate social responsibility.” He announced that Pacific Controls is now looking beyond the Platinum certification and will Pioneer the the World’s first “Living Building”, as its Research and Development Centre in Dubai. Website: [sorry this link is no longer available]     

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eBay Launches MicroPlace

eBay has launched a website to provide an easy way for everyday people to invest in the world’s working poor by leveraging the power of microfinance, a proven solution to alleviate global poverty. MicroPlace.com’s unique business model creates a self-sustaining marketplace that can serve as an efficient and scalable way for capital to flow into the microfinance industry. During the website’s launch yesterday, 150 people purchased investments on the website. Calvert Foundation was selected as the first issuer to sell investments on MicroPlace, as well as an early partner in the development of the new venture. “In the 1980s, we were working hard to demonstrate that microfinance could be operated in a sustainable manner, and in the 1990s, the focus shifted to how to grow it to scale,” said Shari Berenbach, Calvert Foundation’s Executive Director. “Now we are looking at how to bring microfinance into the mainstream.” Calvert Foundation will use the funds generated from the sale of securities on MicroPlace to invest in microfinance institutions that investors select from the online options. It will also be responsible for making interest and principal payments to investors. Microcredit, currently the most well-known product within microfinance, is the extension of small loans […]

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FTC Still Trying to Block Whole Foods, Wild Oats Merger

In an unusual move, the Federal Trade Commission is again attempting to stop Whole Foods from acquiring Wild Oats even though the deal completed in August. The FTC asked a Washington appellate court to overturn the August federal district court ruling that allowed the merger to go forward. Although the FTC appeal is considered a long shot, it is asking for an expedited review based on antitrust grounds. Whole Foods has filed a motion asking the appellate court to dismiss the case as moot because the companies completed their transaction Aug. 28. But the FTC says the appeal is warranted, partly because Whole Foods continues to operate many of the Wild Oats stores separately.

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