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Environmental Power Reports Q2 2007 Results

Environmental Power Corporation (Amex: EPG) has announced results for the quarter and six months ended June 30, 2007. As announced on May 31, 2007, the Company has entered into negotiations finalizing the disposition of the leasehold interest held by the Company’s subsidiary Buzzard Power Corporation (“Buzzard”) in the 83 megawatt electric generating facility located in Venango County, Pennsylvania, known as the Scrubgrass facility. Consistent with that activity, the assets and liabilities of Buzzard have been accounted for as discontinued operations for all periods presented in this release and in the Company’s Form 10Q. The disposition of the Scrubgrass lease arrangements will result in the write-off of Buzzard’s net assets and forgiveness of the Arclight loan. Additionally, we will be able to recognize the deferred gain from the original sale of the facility. The Company estimates that the net effect of the transaction will result in a gain of approximately $3 million. The exact transaction value will vary based upon the results of Buzzard’s operations from now until the final disposition date. Financial information for the discontinued operations is presented in the Company’s Form 10Q. Microgy, Inc., the other wholly owned subsidiary of EPG, is currently the sole business segment of […]

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WorldWater Reports Q2 Results

WorldWater & Solar Technologies Corp. (OTC BB:WWAT.OB), developer and marketer of proprietary high-horsepower solar systems, has announced results for the second quarter and six months ended June 30, 2007. Revenue for the second quarter was $2.2 million, compared with $1.8 million reported in the second quarter of 2006. Gross profit for the quarter was $0.3 million in each of the two years. Net loss for the second quarter of 2007 was $2.8 million, or $(0.02) per share, compared to a loss of $2.0 million, or $(0.01) per share, in the second quarter of 2006. The 2007 second quarter reflects an increase in marketing and sales expense tied to the Company’s aggressive growth goals. For the six months ended June 30, 2007, WorldWater reported revenue of $3.2 million, compared with $3.7 million for the first six months of 2006. Gross profit year to date was $0.5 million, versus $0.4 million in the prior-year period. Net loss for the first two quarters of 2007 was $4.9 million, or $(0.03) per share, compared to a loss of $5.5 million, or $(0.04) per share, last year. “WorldWater remains positioned for strong growth in the coming quarters with major projects, and we expect the last […]

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Millennium and Horizon Enter into Strategic Relationship

Millennium Cell Inc. (NASDAQ:MCEL) has executed a joint development and licensing agreement with Horizon Fuel Cell Technologies focused on the commercialization of fuel cell based power products that provide over 20 watts of power. Horizon, a Singaporean company with operations in China, is a developer of commercial-grade, cost-competitive hydrogen fuel cell solutions targeting a number of high volume markets. The announced strategic relationship will allow Horizon to launch practical and viable fuel cell power products as a competitive and cleaner alternative to today’s lead acid battery-based power systems. As part of this new relationship, Horizon licensed Millennium Cell’s Hydrogen on Demand technology for the purpose of co-developing compatible hydrogen fuel cartridges for the next wave of Horizon fuel cell products set to hit the market in 2008. The first of a series of new Horizon fuel cell products is a 50W emergency power unit designed to support disaster relief professionals, enable communication during black-outs, and provide recreational power in remote environments. Horizon brought fuel cell technology to the general public with the launch of a miniature hydrogen fuel cell car in 2006, the world’s first consumer fuel cell product that was selected by Time Magazine as a “Best Invention of […]

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Zoltek Announces Pricing of Public Stock Offering

Zoltek Companies, Inc. (NasdaqGM:ZOLT) has announced the pricing of a public offering of 4,000,000 shares of its common stock at $38.76 per share. In the offering, 3,615,000 shares are being offered by the Company and 385,000 shares are being offered by certain selling shareholders. The Company granted the underwriters an overallotment option to purchase up to 600,000 additional shares of common stock. As previously announced, the proceeds received by the Company from this offering will be used for: continued execution of the Company’s capacity expansion plans; repayment of a $10 million loan extended by the Company’s Chairman and Chief Executive Officer to finance a bond posted in connection with ongoing litigation; working capital to support the anticipated growth in the Company’s business; and other general corporate purposes. Merrill Lynch & Co. serves as lead manager and sole book-runner for the offering, and RBC Capital Markets and ThinkEquity Partners LLC serve as co-managers. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. Website: http://www.zoltec.com     

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Phoenix Solar AG Reports Q2 Results

Phoenix Solar AG experienced large increase in sales and EBIT at the close of the second quarter. On the basis of the high order intake, especially from abroad, the Board of Directors has raised its guidance for sales generated abroad from EUR 40 to EUR 60 million for the year as a whole. From 1 April until 30 June, the Phoenix Solar Group achieved sales of EUR 43.78 million in Germany and abroad, which is more than double the previous year’s figure of EUR 21.44 million. Sales are split between the Components & Systems and Power Plants segments which posted EUR 25.37 million (Q2/2006: EUR 12.45 million) and EUR 18.41 million (Q2/2006: EUR 8.93 million) respectively. Earnings before interest and taxes (EBIT) came to EUR 0.94 million in the second quarter and is thus almost six times the year-earlier figure (Q2/2006: EUR 0.16 million). The EBIT margin, which is the ratio of EBIT to sales, posted 2.15 percent in the second quarter (Q2/2006: EUR 0.75 percent). In the first half-year, total sales of the Group rose by 60 percent to EUR 58.81 million as against the previous year’s figure (H1/2006: EUR 36.73 million), of which around 23 percent, which corresponds […]

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SolarWorld AG Reports Q2 Results

SolarWorld AG secured double digit sales and earnings growth for the second quarter, 2007. Group sales rose to EUR 180.8 million (previous year: EUR 101.3 million) in the second quarter and to EUR 313.6 miilion (previous year: EUR 184.6 million) in the first half of the year. Earnings before interest and tax (EBIT) went up by 32 per cent to EUR 49.7 million (previous year: EUR 37.7 million) from April through June and to EUR 84.8 million (previous year: EUR 64.5 million) in the first half of the year. In comparison with the first quarter of the year, the second quarter profit rose by 25 per cent to EUR 26.8 million. In the first half of 2007 the annual surplus increased to EUR 48.2 million (previous year: EUR 40.1 million). For the full year, the target is to exceed the growth forecast of 20 per cent. Also on the basis of the adjusted results for 2006 (EBIT: EUR 118 million), SolarWorld AG is again expecting growth in operating profit of 20 per cent. Website: http://www.solarworld.de     

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Basin Water, Inc. Reports Second Quarter 2007 Results

Basin Water, Inc. (Nasdaq:BWTR) has reported financial results for the quarter ended June 30, 2007. For the second quarter of 2007, revenues of $6.4 million increased $1.4 million when compared to revenues of $5.0 million in the second quarter of 2006, a 28% increase. System sales revenues were $5.2 million for the second quarter of 2007, compared to $4.2 million in the same period in 2006. As anticipated, the increase in system sales revenue this quarter was due primarily to a third party financing arrangement whereby Basin Water sold 10 water treatment systems of various capacities which had previously been placed with customers. The Company will continue to operate and maintain these systems for its customers. Operating contract revenues for the second quarter of 2007 were $1.2 million, an increase of $0.4 million over the second quarter of 2006. Gross profit decreased by $1.4 million during the second quarter of 2007 to breakeven compared to a $1.4 million gross profit during the second quarter of 2006. The gross profit earned on the sale of the 10 treatment systems was offset by the costs incurred by the continued focus on correcting internal legacy projects and the high level of field service […]

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