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Fuel-Tech 1Q Earnings Tumble

Fuel Tech, Inc. (Nasdaq: FTEK), a leader in advanced engineering solutions for the optimization of combustion systems in utility and industrial applications, reported lower results for the quarter ended March 31, 2007. Net sales totaled $16.3 million, down 5% from Q106. Net income totaled $0.8 million, or $0.03 per diluted share, versus $1.3 million, or $0.06 per diluted share, in the same year-ago quarter. The decline in net income is attributable to several factors, including: the winding down of two air pollution control projects in the People’s Republic of China, which had been signed in 2005 and had contributed significantly to revenues in 2006; the impact on FUEL CHEM® program revenues of plant outages experienced by a significant number of utility coal-unit customers; and the recording of higher stock-based compensation expense, which increased on an after-tax basis from $227,000 in the first quarter of 2006 to $583,000 in the current quarter. Despite the impact of unit outages, revenues for the fuel treatment chemical business segment were up 61% over 2006, reflecting the growing acceptance of the various benefits of Fuel Tech’s proprietary TIFI(TM) Targeted In-Furnace Injection(TM) technology. “We have experienced a somewhat slower start to the year than planned,” commented […]

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AMSC, Nexans Announce Successful Testing of World's First Power Transmission Cable Made With 2G HTS Wire

American Superconductor Corporation (NASDAQ: AMSC), a leading energy technologies company, and Nexans, the worldwide leader in the cable industry, have successfully tested the world’s first power transmission cable made with second generation (2G) high temperature superconductor (HTS) wire. The cable was produced by Nexans using AMSC’s proprietary 2G HTS wire known as “344 superconductors.” The 30-meter-long, transmission-voltage cable was successfully tested at a Nexans high-voltage facility in Hannover, Germany. Operated at 138,000 volts (138kV), the cable contained only 33 hair-thin 344 superconductors, yet it demonstrated the capability to transmit 435 mega-volt-amperes (MVA) of power – enough electricity to power over 250,000 homes. This rating is more than 50% higher than conventional cables at the same voltage level. “This demonstration is an important milestone and paves the way for large-scale, commercial utility projects,” said Greg Yurek, founder and CEO of AMSC. “We have achieved commercial-grade electrical performance with our 344 superconductors, and have proven that our manufacturing methodologies are on the way to achieving cost targets that are expected to enable broad application of this technology in power grids.” The demonstration confirms that 344 superconductors are a drop-in replacement for first generation HTS wire. First generation HTS wire has been used […]

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United Solar Wins Italy Order

United Solar Ovonic, a subsidiary of Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), has received two orders totaling over $5.8 million of photovoltaic (PV) products from Unimetal S.p.A to be delivered before September 2007. Unimetal, a supplier of sheet metal roofing materials based in Torre San Giorgio, Italy, will integrate the UNI-SOLAR® flexible solar products in its steel metal roofing products for distribution in Italy, France and Spain. “With the new feed-in tariff recently approved in Italy, there is a preference for building integrated photovoltaic installations, which received the highest incentive levels. Our OEM agreement with Unimetal follows our overall strategic plan to expand our presence in emerging markets like Italy,” said Maarten van Cleef, Key Account Manager of United Solar Ovonic for Southern Europe. “Unlike traditional crystalline technology, which typically uses heavy, glass panels, UNI-SOLAR® products are flexible, durable, lightweight, and easy to install. Because of these characteristics, UNI-SOLAR® products offer the ideal solution for building integration. Additionally, independent studies in Europe and elsewhere have shown that our triple-junction products deliver more energy per rated power than the conventional crystalline products,” said Salama Naguib, Vice President – Global Sales & Marketing of United Solar Ovonic. Website: http://www.uni-solar.com     

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Global Renewable Energy ETF Goes on NYSE

To emphasize the importance of drawing capital into the alternative energy sector, Andrew Karsner, Assistant Secretary of Energy for Energy Efficiency and Renewable Energy, will ring The Opening Bell on the NY Stock Exchange Wednesday, May 9. The morning marks the opening of the NYSE listing of the Market Vectors – Global Alternative Energy ETF (NYSE: GEX), an exchange-traded fund (ETF) that offers investors convenient exposure to a broad spectrum of the global alternative energy industry. Sponsored by New York investment management firm Van Eck Global the new ETF will seek to track, as closely as possible, before fees and expenses, the performance and yield of the Ardour Global Alternative Energy Index (AGIXL). The index consists of the shares of 30 public companies from around the world involved in alternative and renewable energy (solar, wind, geo-thermal, etc.) and related technologies.

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More Climate Legislation Introduced: Clean Fuels, Coal, Carbon Tax

U.S. Senator Barbara Boxer (D-CA), Chairman of the Senate Committee on Environment and Public Works, introduced “The Advanced Clean Fuels Act Of 2007,” which sets a goal of increasing the volume of clean transportation fuels to as much as 35 billion gallons by 2025. Senators Susan Collins (R-ME) and Joseph Lieberman (ID-CT) joined Senator Boxer as cosponsors of the measure. ” Significantly increases the amount of advanced clean fuels in the nation’s fuel supply by requiring increasing volumes of fuels that have low greenhouse gas emissions and that are produced in an environmentally sound way. ” EPA is required to increase the Renewable Fuels Standard from 12 billion gallons in 2011 to as much as 35 billions gallons by 2025. o To count towards the Renewable Fuels Standard, fuel must be at least 20% better than gasoline in terms of greenhouse gas emissions. o The Renewable Fuels Standard would also require increasing volumes of fuels that are at least 50% and 75% better than gasoline in terms of greenhouse gas emissions. ” The National Academy of Sciences will periodically study the environmental and other impacts, and the energy independence implications of increasing the amount of advanced clean fuels in the […]

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