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XsunX, Inc. (XSNX.OB), developer of advanced manufacturing systems and cell structures for solar energy, has received a 25 MW order from Lambda Energia S.A. de V.C. for thin film PV production equipment. The order is valued at over $41 million. The order will be delivered during 2008. Tom Djokovich, CEO of XsunX, said, “This license agreement and equipment sale with Lambda represents a significant milestone in the business development efforts of XsunX. The group that has formed Lambda has a track record of success in commercializing new technologies and we are anxious to begin working with them and supporting their efforts to bring thin film solar cell products to market. ” “Lambda Energia expects to achieve broad market success with the thin film solar products we will manufacture under license from XsunX,” stated Dr. Marco Adamo, President and founder of Lambda. “The demand for low cost solar products that can be easily integrated into buildings overwhelms the ability of suppliers to deliver these products,” Dr. Adamo continued, “and the thin film products that Lambda will produce using XsunX’s technologies are well suited to meet this demand.” About Lambda Based in Cuernavaca Mexico, Lambda with its mission to globally provide clean […]
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Azure Dynamics Corp. (TSX: AZD; LSE: ADC) has signed an agreement with FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) to develop gasoline parallel hybrid-electric powertrains for their delivery fleet. Azure will supply a parallel hybrid-electric test vehicle to FedEx Express for the Ford E-450 hybrid commercial delivery van development program. Once the development phase is completed, FedEx Express has committed to purchase a minimum of 20 pre-production parallel hybrid-electric Ford E-450 delivery vans to be delivered by May 2008. “These agreements with FedEx Express provide an opportunity for greater customer input in product development, as well as a high-profile, multinational fleet as a lead customer for the Ford E-450 parallel hybrid electric vehicle,” said Scott Harrison, CEO of Azure Dynamics. In 2004, FedEx Express introduced the FedEx OptiFleet E700, an environmentally-superior delivery truck, into its delivery fleet. With 93 hybrid-electric vehicles in service in North America that have traveled more than one million miles, FedEx Express has the largest fleet of hybrid-electric delivery vehicles of any transportation company in the U.S. About Azure Dynamics Azure Dynamics Corporation is a developer of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure is strategically targeting the commercial […]
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Until now, there was only one fund through which investors could get exposure to the water industry – the $1.6 billion PowerShares Water Resources Portfolio (AMEX: PHO). The ETF includes water industry players that trade on U.S. exchanges and has had outstanding performance since its debut in December 2005. The group plans to roll out an international water ETF soon, but the competition is finally heating up. This week, two new water funds launched – the First Trust ISE Water Index Fund (AMEX: FIW) and Claymore S&P Global Water Index ETF (AMEX: CGW). First Trust is also U.S.-based, while the Claymore invests in companies globally. Claymore is based on the newly launched S&P Global Water Index, and has the best 1-, 3- and 5-year performance based on back-testing. There is a great deal of overlap in the companies held by the U.S. funds – 29 of the 36 components in the PowerShares fund also appear in the First Trust fund. PHO has more exposure to small caps, while First Trust is weighted slightly more toward large caps. Purchase Progressive Investor’s Special Report: Investing in Water, to learn about this important industry. Website: [sorry this link is no longer available]
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Two more Chinese solar companies, Yingli Green Energy Holding Co. Ltd and LDK Solar Co. Ltd, filed for U.S. IPOs late last week, for combined proceeds of about $750 million. The will join JA Solar (Nasdaq: JASO), Solarfun Power Holdings (Nasdaq: SOLF) and Suntech Power (NYSE: STP). The larger IPO is LDK Solar (NYSE: LDK), which hopes to raise up to $400 million on the NYSE. The company makes multicrystalline solar wafers -thin sheets of crystalline silicon – used to make solar cells. 31-year old CEO Xiaofeng Peng owns about 83% of the company, which reported $22 million in income on $73 million in sales in the first quarter. For the first quarter of 2006, LDK reported a loss of $440,000. Yingli Green Energy (NYSE: YGE), which designs and manufactures PV modules, plans to raise up to $350 million. Liansheng Miao, 50, the company’s chairman, owns about 57% of the company.
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Renewable energy developer Airtricity, Inc., announced the construction of its largest wind farm to date in Texas. The 209 MW Roscoe Wind Farm will provide power to TXU Wholesale, a subsidiary of TXU Corp., under a five-year sales contract. The project area stretches into three counties and will cover nearly 30,000 acres. The Roscoe Wind Farm, which is scheduled for completion by the end of the year, will produce enough energy to power 60,000 homes annually and will help Texas meet its renewable energy goal of 5,000 new megawatts of its power from renewable sources by 2015. In 2006, Texas became the nation’s leader in installed wind capacity. This is Airtricity’s third Texas project. It will employ 209 1.0 megawatt Mitsubishi 1000A turbines. Airtricity’s fourth Texas wind farm, the 126 MW Champion project, recently commenced construction five miles from the Roscoe site. By the end of this year Airtricity will operate 550 MW of wind power in Texas, making it one of the leading providers of clean energy in the state. The company is also currently constructing a project in western New York. About Airtricity Founded in 1997, Airtricity is a fully integrated renewable power company with 455 MW of […]
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URL: http://www.ens-newswire.com/ens/may2007/2007-05-14-08.asp Website: http://www.ens-newswire.com/ens/may2007/2007-05-14-08.asp
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1,500 scientists from around the world say Canada needs to protect its Boreal Forest to preserve wildlife, water and to fight global warming. Scientists says at least half must be protected, up from 10% now, and the rest needs to be carefully managed, particularly in the face of pressure from logging, mining and oil and gas operations. An area the size of Florida, for example, is slated to be developed for Canada’s tar sands reserves. Canada’s Boreal Forest stretches from the Alaskan border to Newfoundland, and is one of largest intact forest-and-wetland ecosystems remaining on earth. The mainly coniferous forest is the single largest terrestrial carbon storehouse in the world, supports 3 billion migratory songbirds, the world’s largest caribou herds and large populations of bears, wolves, lynx and fish. “We are losing so many of the world’s great forests, despite the best efforts of conservationists,” said University of Alberta ecologist David Schindler. “Canada’s Boreal Forest offers what may be our last, best chance to do things right, but only if our leaders act decisively and act now.” Professor Terry Root of Stanford University emphasized that especially in the face of global warming, survival of a wide range of species depends […]
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Following last month’s Supreme Court ruling that the Environmental Protection Agency (EPA) must take steps to reduce emissions, President Bush ordered federal agencies to develop regulations to reduce gasoline consumption by motor vehicles. He conveniently set a target date at the end of his term for the EPA to detail regulations. He called on the EPA and the Departments of Transportation, Agriculture and Energy to work together to write the rules. The president said the new rules will address a goal he set in this year’s State of the Union address to reduce gasoline usage by 20 percent over the next 10 years. Senator Bingaman commented, “This is an Executive Order on interagency relationships. While good relations among agencies are important to the regulatory process, it’s also important to recognize that reducing gasoline consumption requires more than good interagency dynamics. “The absence of any standards in today’s announcement is a reason why Americans will be looking to Congress for stronger leadership on energy policy. Indeed, solid bipartisan majorities in two Senate committees recently reported bills to create specific, meaningful new standards for biofuels and vehicle fuel economy. I look forward to the full Senate’s consideration of these bills.” The Union […]
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SatCon Technology Corp. (NASDAQ CM: SATC), a developer of power management solutions for the alternative energy and distributed power markets, reported first quarter financial results. Revenues rose to $8.3 million from $7.6 million in Q106, an increase of 9%. More importantly, revenues in stationary power systems increased by 57% to $3.6 million compared to $2.3 million in Q106. Driving that growth were increases in solar inverter revenues of over 220% to $3.2 million. In addition, technology development revenue recorded growth of over 98% to $1.8 million. This revenue growth in solar inverters and power technology development reflects the results of the company’s effort to focus on products targeted at the alternative energy and distributed power markets. This trend can be seen in the quarter-end order backlog as well. Defined as firm purchase orders from customers for future delivery, the order backlog has not only increased over 56% to over $39 million, but it has increased across all product lines. Stationary power systems increased over 100% to $17.8 million, technology and product development orders increased over 67% to $8.5 million, and the electronics business experienced a 12% increase to over $7 million. As of the end of April 2007, the sales […]
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Akeena Solar, Inc. (OTCBB:AKNS), a leading designer and installer of solar power systems, announced results for the first quarter ended March 31, 2007. Net sales were $6.3 million, an increase of 152%, compared to $2.5 million in Q106. Gross profit was $1.5 million or 24% of sales, compared to $568,000 or 23% of sales in Q106. Net loss was $933,000, or $0.06 per share, compared to net income of $20,000, or less than a penny per share, in Q106. Installations for the quarter were approximately 830 kilowatts, compared to approximately 320 kilowatts for the same period last year. Barry Cinnamon, CEO of Akeena, stated, “With five new offices opened up in the last nine months, we are steadily expanding our footprint throughout California, which is the largest solar power market in the United States. The impact of our expansion strategy combined with favorable first quarter weather delivered strong top-line results. We generated revenue of $6.3 million this quarter, delivering over 150 percent growth compared to the first quarter last year. 2007 is progressing even better than we expected. Therefore, we now expect revenue of approximately $31 million for 2007, a growth rate of 135 percent compared to 2006.” David “Lad” […]
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