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Suntech Reports Q1 Profit Up 35%

Suntech Power Holdings Co. Ltd., a China-based PV manufacturer, reported that its first-quarter profit jumped 35%, as production gains helped offset tighter margins. Revenue almost tripled to $246.7 million from $89.9 million in the same period a year ago. Analysts expected $228.1 million. Earnings increased to $26.1 million, or 16 cents per share, from $19.3 million, or 12 cents per share, from the same period last year. Excluding costs from moving some production elements from Japan to China, it earned 22 cents per share. Analysts expected 21 cents per share. Suntech’s PV production increased to 360 megawatts from 270 megawatts, although the company, while margins shrunk to 19.9% from 30.1%. “The demand for our products has never been stronger and we already have firm purchase contracts in place for our entire 2007 projected output, which is notable given that this volume is more than double our 2006 output. In fact, we are already receiving purchase orders for 2008,” said Dr. Zhengrong Shi, Suntech’s Chairman and CEO. “To capture ever increasing sales opportunities, we are exploring all options to bring forward plans to reach our goal of one gigawatt production capacity in 2010,” he said. “In the first quarter, we accelerated […]

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WorldWater to Acquire ENTECH

WorldWater & Solar Technologies Corp. (OTC BB: WWAT), developer and marketer of proprietary high-power solar systems, has signed a final Letter of Intent defining the terms for the acquisition of ENTECH, Inc., developer and manufacturer of advanced solar concentrating technology. The agreement is expected to be completed before the end of the second quarter, with closing scheduled soon thereafter. WorldWater will pay ENTECH shareholders $6.3 million in cash consideration along with $12 million in WorldWater common stock. Said Quentin Kelly, Worldwater Chairman and CEO, “ENTECH’s solar concentrator technology greatly enhances the efficiency of large solar applications, utilizing 95% less silicon to generate power than required by conventional flat plate solar modules. As a combined entity, we can provide solar systems capable of generating and delivering electrical and thermal energy at a price competitive with the grid – even before rebates. We have been working with ENTECH on a number of megawatt and multi-megawatt RFPs and look forward to consummating this transaction in the very near future. This is an exciting time for our two companies.” About WorldWater & Solar Technologies Corp: WorldWater & Solar Technologies Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered […]

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BioteQ Begin Trading On Toronto Exchange

BioteQ Environmental Technologies Inc. (TSX:BQE) starts trading on the Toronto Stock Exchange (TSX) today, May 29, 2007. The original listing on the TSX is in the Mining category of 61,033,056 common shares issued and outstanding and 9,855,054 common shares reserved for issuance. BioteQ treats acid contaminated water, with concurrent recovery of saleable metals, through the use of its patented BioSulphide® Process and related sulphide technologies. In addition, the company has developed new technology, Sulf-IX, for the removal and control of sulphate in industrial wastewater to meet new sulphate regulations worldwide. Focused on the mining industry, BioteQ has partnered with leading metal producers including Phelps Dodge (Freeport), Breakwater, INCO (CVRD-INCO), Aditya Birla, Jiangxi Copper, Codelco, Molymet and Xstrata as well as utilities operator EPCOR Water Services, to finance, design, build and operate mine site water treatment plants which recover saleable metals and valuable co-products in addition to meeting ever stricter environmental regulations.

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