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Evergreen Solar Increases SunEdison Contract

Evergreen Solar, Inc. (Nasdaq: ESLR announced a major extension of its sales agreement with SunEdison. The extension increases the total value of the contract to over $510 million, boosting the total value of Evergreen sales agreements announced in the past 16 months to more than $1 billion. The initial $200 million agreement was announced in July 2006. Under the terms of the contract extension, Evergreen Solar will ship an additional $316 million of photovoltaic modules to SunEdison through 2011. “This contract extension with SunEdison is another significant milestone,” said Richard M. Feldt, Evergreen Solar’s president and chief executive officer. “Evergreen’s cutting-edge technology coupled with SunEdison’s unique finance and service model for solar development projects make our partnership a perfect match of global innovation leaders. The ongoing expansion of EverQ – our partnership with Q-Cells and Renewable Energy Corporation – and a secure, long-term supply of refined silicon enable us to forge long-term customer agreements with solar industry leaders.” The SunEdison agreement is one of six major sales contracts secured by Evergreen Solar since November 2005. The majority of the PV modules will be supplied by its rapidly-expanding EverQ joint venture operation in Thalheim, Germany with the remainder supplied by Evergreen’s […]

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ZAP Sales Triple

For the year ending December 31, 2006, ZAP (OTCBB:ZAAP) reported that sales for its electric and fuel-efficient vehicles tripled. Sales for the year were $10.8 million compared to $3.6 million in 2005. The increase of $7.2 million was due to sales of advanced technology vehicles of $8.3 million for 2006 versus $432,000 in 2005. Net loss for 2006 decreased by 50%, from $23.5 in 2005 to $11.9 million in 2006. The decrease was primarily due to a significant one-time gain on the discharge of liabilities related to an automotive distribution contract. For ZAP, 2006 marked the launch of automotive marketing and distribution, highlighted by the introduction of the XEBRA electric sedan and truck in June through its network of automotive dealers. ZAP is currently marketing the only production electric vehicles that meet all DOT standards for on-road use in the United States. ZAP is working to capitalize on these trends with the announcement in February 2007 that it will develop a new generation of electric vehicles, including the ZAP-X compact SUV, designed by Lotus Engineering. ZAP is also in a venture to make fuel-efficient ethanol and electric micro-sports cars with Brazilian automaker OBVIO ! Automotoveiculos S.A. of Rio de Janiero. […]

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WorldWater Announces Q4, Year Results

WorldWater & Power Corp. (OTC BB:WWAT.OB), developer and marketer of proprietary high-horsepower solar systems, announced results for the fourth quarter and full year ended December 31, 2006. Revenue for Q4 hit a record $7.1 million, with gross profit of $0.9 million while, for the year, WorldWater reported revenue of $17.3 million, with gross profit of $2.7 million. “We are extremely pleased to announce, as expected, our best revenue year in the Company’s history,” said Quentin Kelly, Chairman. “We set out to transform WorldWater & Power in 2006 and accomplished just that – with revenue nearly eight times what it was in 2005, as we executed to plan and completed such major installations as the $7.8 million Farm ACW avocado ranch. Not only did we significantly grow the Company and improve gross margins, but we entered into a strategic partnership with EMCORE, raised capital, and added seasoned talent to our executive staff. We have positioned the Company for continued expansion in 2007 and are off to a great start. In total, we installed 2.4 megawatts in 2006 versus 275 kilowatts in 2005, and we expect to at least double our production during 2007 to approximately 5 megawatts of electricity. “I am […]

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New Climate Legislation Introduced, Passed Committee

The Senate Foreign Relations Committee passed Senator Joe Biden (D-DE) and Senator Richard Lugar’s (R-IN) bipartisan resolution (S.Res.30) calling for the U.S. to return to international negotiations on climate change. This is the first legislation on climate change to move out of a Committee in the 110th Congress. “The climate has changed. It has changed outside, where last year was the warmest on record in the United States. And the climate has changed in halls of the Senate, where the causes and consequences of global warming – and how we should respond – is a major concern of this new Congress,” said Chairman of the Senate Foreign Relations Joe Biden. The resolution calls for United States participation in negotiations under the United Nations Framework Convention on Climate Change, signed by the first President Bush, to protect the economic and security interests of the United States, and to commit all nations – developed and developing – that are major emitters of greenhouse gases to achieve significant long-term reductions in those emissions. Most important, it puts the Senate on record, calling for the United States to resume its role as leader in the international effort to address this global threat. The resolution […]

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