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GE Makes Series of Important Green Business Announcements

Yesterday, General Electric (NYSE: GE) announced it would double its investments in renewable energy R&D, project development and in emerging companies in the space. It also said it would disclose emissions generated from GE Energy Financial’s power plant equity investments. Today, GE made a series of important announcements, introducing 11 new ecomagination products, services and projects, bringing the total to 45. Said CEO Jeff Immelt, “Green is happening everywhere across GE,” Immelt said. “From our transportation products to renewable energy to clean water to how we make television shows and movies to home building and mortgages, green is truly universal at GE.” World’s First Hybrid Locomotive: the Evolution® Hybrid locomotive is a freight hybrid locomotive capable of recycling thermal energy as stored power in on-board batteries. ecomagination Homebuilder Program: The first-of-its-kind package of energy-efficient appliances, lighting, advanced building design and GE Commercial Finance’s first energy-efficient mortgage, the GE SmartCommand(TM) Dashboard, which provides current and historical feedback on electricity and water consumption. Doubling Down on Renewables: GE Energy Financial Services will double renewable energy investments to $4 billion by 2010. Investments has grown from $630 million in 2004 to $2 billion today. Hydrogen Energy and Carbon Sequestration: GE and BP’s new […]

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Automakers to Launch Fuel Efficiency Misinformation Campaign

Despite rising gas prices and the threat of global warming, the Alliance of Automobile Manufacturers – which represents Detroit’s Big Three, Toyota, BMW and four other automakers – will launch a print and radio advertising campaign this weekend to try to convince Americans to oppose stronger fuel economy standards. The auto industry’s radio and print ads, which are targeted at 10 states, encourage people to tell their members of Congress to oppose a bill currently being considered by the Senate which would raise fleet-wide fuel economy to 35-mpg. They falsely claim that the pending legislation would lead to higher sticker prices and smaller, less safe vehicles. “This misinformation campaign is akin to a drug pusher telling people that cutting their addiction is bad for their health,” says David Friedman, research director for the Union of Concerned Scientists (UCS) Clean Vehicles Program. “Automakers are not giving consumers the 34-mpg SUVs, the 37-mpg minivans and the 41-mpg family cars our nation’s top engineers and scientists can deliver, according to the National Academies of Science.” The auto industry campaign is being conducted in states that have high SUV and light truck ownership – Arkansas, Delaware, Idaho, Louisiana, Minnesota, Montana, Nebraska, North Dakota, Pennsylvania […]

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Weekly Clean Energy Roundup:May 24, 2007

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News and EventsSixteen Cities and Five Banks Join Efficiency Effort for Buildings EPA Proposes Criteria for Clean Vehicles Allowed in HOV Lanes General Motors Achieves a Record Distance in a Fuel Cell Vehicle Racers Fall Short of Mileage Record at Shell Eco-marathons Energy ConnectionsEIA: World Energy Use to Grow 57 Percent by 2030 News and EventsSixteen Cities and Five Banks Join Efficiency Effort for BuildingsSixteen of the world’s largest cities – including Chicago, Houston, and New York – have joined in a global effort to reduce energy consumption in existing buildings. The Energy Efficiency Building Retrofit Program, a project of the Clinton Climate Initiative, will draw on $5 billion in financing to be provided in equal amounts by five banks: ABN AMRO, Citi, Deutsche Bank, JPMorgan Chase, and UBS. The banks will finance cities and private building owners to undertake energy efficiency retrofits. Four energy service companies – Honeywell, Johnson Controls, Siemens, and Trane – will conduct energy audits, perform building retrofits, and guarantee the energy savings of the retrofit projects. The companies will be assisted by the American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) and the U.S. Green Building Council. See the ASHRAE press release.The municipal and […]

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AMSC Reports Q4, Full Year Results

American Superconductor Corp. (NASDAQ: AMSC), a reported financial results for its fourth quarter and full fiscal year ended March 31, 2007. Revenues for Q4 rose from $14.3 million in Q106 to $19.1 million. Net loss rose somewhat to $11.4 million, or $0.33 per share, from $11 million, or $0.34 per share. Earnings before interest, taxes, depreciation, amortization and stock-based compensation, or EBITDAS, was $(9.3 million) for the quarter ended March 31, 2007 and $(9.9 million) for the prior-year quarter ended March 31, 2006. “Our fourth quarter was a period of tremendous progress at AMSC, and the momentum has continued into fiscal 2007,” said Greg Yurek, founder and CEO. “With the recent completion of two acquisitions, a restructuring and realignment of our business units, an influx of new orders and projects, and near-record revenues in the fourth quarter, we have set the stage for strong growth going forward. “AMSC Power Systems, formerly known as Power Electronic Systems, posted great organic growth and set a new high water mark for sales. Our D-VAR® systems continue to serve as a catalyst for this business, particularly in the wind power market. We also bolstered our wind power business significantly by completing our acquisition of […]

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