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Energy Photovoltaics Raises $77.5M

Energy Photovoltaics, Inc. (EPV), a thin-film photovoltaic manufacturer, has closed on $77.5 million of senior secured notes which are convertible into its common stock. EPV will use the proceeds to increase manufacturing capacity to over 85 MW in the next 18 months. Up to 25 MW of the expansion will be in the New Jersey region. EPV is currently considering several U.S. states and European countries as locations for remaining capacity expansion beginning in 2008. As next generation equipment is rolled out, EPV plans to expand capacity by approximately 85 MW per year for the next several years. Said CEO Scott Massie, “This funding represents a strong endorsement for the market position of EPV and the growth potential of our commercially proven solar technology. This capital will allow us to take our solar technology and proprietary manufacturing process and transition EPV into a high-volume, low-cost producer of world class thin-film solar modules and products. EPV’s 15 year experience in developing its own manufacturing equipment, means that we can expand our manufacturing capacity quickly and on a highly competitive cost basis. Funding at a level of $77.5 million demonstrates that investors wish to participate in EPV’s cost-effective solar electric (photovoltaic) technology […]

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Cereplast Raises $14.5M

Cereplast, Inc. (OTCBB:CERP), a manufacturer of proprietary bio-based plastics, has received $14.5 million in capital through a private placement of common stock from a group of leading “green” institutional funds, including UBS Global Innovator Fund, Swisscanto Green Invest Fund, Fortis L Fund Equity Environmental Sustainability World, and Credit Suisse Future Energy Fund. Cereplast plans to use the proceeds for capital investments in equipment to expand manufacturing and logistical operations, to commercialize a new family of bio-based resins with applications, and to fund working capital needs. About Cereplast Cereplast, Inc. designs and manufactures proprietary bio-based, renewable plastics which are used as substitutes for petroleum-based plastics in all major converting processes – such as injection molding, thermoforming, blow molding and extrusions – at a pricing structure that is competitive with petroleum based plastics. Cereplast’s uniquely formulated resins are certified biodegradable and compostable by BPI (Biodegradable Products Institute). Website: [sorry this link is no longer available]     

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Nova Biosource Joins Russell 3000

Nova Biosource Fuels, Inc. (AMEX: NBF) has been added to this year’s reconstitution of the Russell 3000 Index and the Russell Microcap Index. The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market. The Russell Microcap Index measures the performance of the microcap segment, representing less than 3% of the U.S. equity market. The Russell Microcap Index includes the smallest 1,000 securities in the small-cap Russell 2000 Index plus the next 1,000 securities and the median market capitalization of its constituents is approximately $249 million. “Said Kenneth Hern, CEO of Nova, “Including Nova Biosource Fuels in these indices will enhance our visibility among investors, provide an opportunity to broaden our shareholder base and provide investors an opportunity to invest in renewable fuels in a diversified manner.” About Nova Biosource Fuels, Inc. Nova Biosource Fuels, Inc. is an energy company that refines and markets ASTM standard biodiesel and related co-products. Nova is now focused on the construction and operation of three biodiesel refineries, with production capacity of between 180 to 220 million gallons of biodiesel fuel on an annual basis. Nova’s business strategy […]

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Senate Passes Thune Wind Energy Amendment

An important development for wind energy in the U.S. was just passed by the Senate as part of the energy bill. The amendment, #1609, submitted by U.S. Senator John Thune of South Dakota, would create energy corridors to facilitate transmission of wind energy from windy states like South Dakota to high-demand areas. “We have the wind energy in South Dakota that the major power consumers in our nation need. The missing link is transmission infrastructure to deliver this power,” Thune said.

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Maine Law Caps Carbon Dioxide Emissions

Gov. John Baldacci of Maine has signed a bill which establishes how the state will implement its cap and trade program as part of the Northeast Regional Greenhouse Gas Initiative. The bill passed the House 130-7, and passed the Senate unanimously. Maine is the third of the 10 Eastern states in the initiative to enact a law with a plan to reduce emissions and where to use the money generated by company allowances – payments to the state for emitting CO2. Maine produces 3% of U.S. CO2 emissions. It will cap its emissions at 5.9 million tons in 2009, and reduce them 10% by 2019. Under the new law, six power plants will begin to pay allowances to the state in 2009. One allowance will pay for one ton of CO2 emissions – the price will set by a market where companies buy and sell the allowances. The first $5 of each allowance will be put in an energy efficiency trust. If rates rise higher, the additional funds will be reimbursed to utility customers. The bill also allows utilities to charge customers for energy efficiency programs.

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Certified Green Polyethylene Getting Ready for Markets

Braskem, based in Brazil, says it has developed the first certified polyethylene from renewable materials – ethanol from sugar cane. The high-density polyethylene – one of the most widely used resins in flexible packaging – is currently being produced in a pilot plant at the Braskem Technology and Innovation Center. It is making enough product for commercial development and plans to enter markets on an industrial scale at the end of 2009. The plant will have capacity of 200,000 tons annually. The ethanol-based plastics will be sold to the automobile, food packaging, cosmetics and personal care products industries. Braskem is a Brazilian petrochemical company, which a leader in thermoplastics in Latin America. It has 18 industrial plants in Brazil.

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