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Comverge Announces Q1 Results

Comverge, Inc. (Nasdaq: COMV), which launched its IPO about a month ago, reported financial esults for the first quarter. “I am pleased to report we started off 2007 with increased market momentum. We were awarded several new or expanded VPC contracts for residential, commercial and industrial demand response programs totaling 149 megawatts of clean capacity,” said Robert M. Chiste, CEO. “Through the trust and confidence shown to us by our utility customers, independent system operators and state utility commissions, Comverge now has almost 500 megawatts of capacity under long-term contract.” Deferred revenues at the end of the first quarter were $9.8 million, up from $7.5 million at the end of the first quarter of 2006, an increase of 31%. First quarter revenues for 2007 were $5.7 million, compared to $5.9 million in the first quarter of 2006. Revenues for both periods exclude revenues under VPC contracts which are deferred and recognized in the fourth calendar quarter each year. Net loss was $4.5 million or $1.25 per share, compared to a net loss of $2.8 million for the first quarter of 2006, or $0.89 per share. In April 2007, the Company completed its initial public offering of 5.3 million shares of […]

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Patents Granted For Ultra High-Efficiency Engine Concepts

Sanderson Engine Development Company, a developer of ultra high-efficiency engine technology, has received three patents that could be key to simpler, much more fuel efficient combustion engine for vehicles. The patents cover a piston assembly, an associated piston connecting joint, and a variable compression ratio mechanism. The piston joint and associated components are core components of the Sanderson Rocker Arm Mechanism (SRAM) invented by Robert and Albert Sanderson. The SRAM mechanism is being evaluated for use in a new type of high-efficiency engine presently undergoing development and testing. The engine combines technologies that allow direct conversion between reciprocating and rotational motion without use of a conventional crankshaft. The result is an internal combustion engine for vehicles that is much simpler and more fuel efficient than conventional piston engines. Among the applications currently being investigated is an integral hybrid hydraulic engine capable of powering a hydraulically driven automobile. Tests at a leading university indicate that an SRAM-powered hydraulic hybrid automobile should be capable of achieving more than 100 miles per gallon. Other potential applications being investigated for SRAM technology include pumps, compressors, refrigeration equipment, electric generators, agricultural and construction equipment, and hydraulic windmill systems. The new patents, in combination with several […]

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Ecology Coatings to Merge with OCIS Corp.

Privately held Ecology Coatings, a developer of nano-engineered industrial coatings for efficient manufacturing, has agreed to merge with publicly held OCIS Corporation as part of a alternative public offering (APO) transaction. The merged company, to be named Ecology Coatings, is expected to trade on the OTC Bulletin Board. The management of Ecology Coatings will become the management of the public entity. OCIS will offer shares of its common stock in exchange for the outstanding common stock of Ecology Coatings. Upon completion of the merger, the shareholders of Ecology Coatings are expected to hold approximately 95.2% of the common stock of the surviving public entity, while the current shareholders of OCIS will own approximately 4.8%. Richard Stromback, Chairman of Ecology Coatings, said, “Ecology Coatings is another step closer to being accessible within the micro cap public market, creating an opportunity for investors to get involved in an emerging technology that combines the capabilities of nanotech with the benefits of cleantech.” The closing of the merger is targeted for June 2007. About Ecology Coatings Ecology Coatings develops nano-engineered, ultra-violet curable coatings that drive efficiencies and clean processes in manufacturing. The company creates proprietary coatings with unique performance attributes for military, automotive, industrial, […]

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Staples Launches Nationwide Electronics Recycling Program

Staples, Inc. (Nasdaq: SPLS) is the first national retailer to offer everyday electronics recycling in its stores. People can drop off used computers, monitors, laptops, printers, faxes and all-in-ones at any U.S. Staples store. All brands will be accepted, regardless of whether or not the equipment was purchased at Staples, for a fee of $10 per large item. The fee covers handling, transport, product disassembly and recycling. Smaller computer peripherals, such as keyboards and mice, will be recycled for free. Staples is working with Amandi Services, one of the country’s most experienced and innovative electronics recyclers, to handle recycling of the equipment, following standards set by the U.S. Environmental Protection Agency (EPA). “An estimated 133,000 computers are discarded every day in the U.S.,” said Mark Buckley, vice president of environmental affairs at Staples, Inc. “We know that small businesses and consumers want to recycle their used office technology but are often frustrated by the lack of convenient options available.” Equipment is bagged and sealed when customers drop them off at the Staples customer service desk. The equipment is then picked up and delivered to Amandi Services, who disassembles the equipment into its component parts and uses industry-leading standards for data […]

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