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NYMEX To Offer Alternative Energy Index Futures

The New York Mercantile Exchange, a subsidiary of NYMEX Holdings, Inc. (NYSE:NMX), the world’s largest physical commodity exchange, signed an agreement today with Ardour Global Indexes, LLC, a developer of benchmark indexes for the global alternative energy industry, to introduce alternative energy index futures and options contracts. NYMEX Chairman Richard Schaeffer said, “The introduction of alternative energy indexes is an exciting initiative for NYMEX. We have seen an interest in what we believe will be an expanding segment of the world’s energy markets, and we strive to introduce innovative new products to the energy arena.” The Ardour Global Alternative Energy Indexes were designed to serve as fair, impartial and transparent measures of the performance of the alternative energy industry. So far this year, the AGI has risen over 5%, reflecting surging interest in the sector caused by high energy prices, as well as security and environmental concerns. The capitalization weighted, float-adjusted family of indexes incorporates companies engaged in five primary alternative energy sectors: alternative energy resources (including wind, solar, ethanol bio-mass and others), distributed generation, environmental controls, energy efficiency, and enabling technologies. Joseph LaCorte, AGI Index Committee Member, said, “The transformation of the world’s energy supply from fossil fuels to […]

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Biofuel Boom

URL: http://www.forbes.com/2007/03/21/biofuel-sunopta-mosaic-pf-guru-in_gs_0321soapbox_inl.html?partner=yahootix Website: http://www.forbes.com/2007/03/21/biofuel-sunopta-mosaic-pf-guru-in_gs_0321soapbox_inl.html?partner=yahootix     

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Hydrogenics Reports Q4, 2006 Results

Hydrogenics Corporation (Toronto:HYG.TO; NasdaqGM:HYGS), a developer and manufacturer of hydrogen and fuel cell products, reported fourth quarter and fiscal 2006 results in U.S. dollars. “Our year came to a close with positive signs, including the resumption of OnSite Generation deliveries following the production delays reported earlier in 2006,” said Daryl Wilson, President and CEO. “Unfortunately, these production delays, caused by supply chain and component quality issues in this business unit, adversely impacted our results for the year.” “Today we announce a streamlining of our organization and our plans for the company. With disciplined execution, we commit to deliver meaningfully improved financial performance. Our goal is to reduce our cash consumption by at least one third on an annualized basis. We will differentiate ourselves by delivering hydrogen products to world class customers at margin,” added Wilson. The Corporation has begun restructuring to reduce its overall cost structure, the majority of which is anticipated to be effected by March 31, 2007. 50 full-time equivalent positions will be cut; the company will incur a one-time pre-tax charge of approximately $2.1 million primarily in the three months ended March 31, 2007. These workforce reductions represent $4.0 million of annualized cost savings. Q4 Revenues were […]

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Kansas Utility to Offset Emissions

In a groundbreaking agreement that can serve as a model for environmental groups and utilities working together, the Sierra Club, Kansas City Power & Light (KCP&L), and the Concerned Citizens of Platte County (CCPC) have agreed on a set of initiatives to offset carbon dioxide (CO2) and reduce other emissions for the Kansas City-based utility. Under the agreement, KCP&L agrees to pursue offsets for all of the global warming emissions associated with its new plant through significant investments in energy efficiency and renewable energy, and cut pollution from its existing plants in order to improve air quality in the Greater Kansas City metro area. The agreement proposes other investments in clean energy, significant decreases in emissions and resolves four appeals pending between the Sierra Club, CCPC, and KCP&L. The most significant element of the agreement is the unprecedented commitment by KCP&L to pursue the offset of carbon emissions from its proposed Iatan 2 generating station. The estimated 6,000,000 tons of annual carbon dioxide emissions are targeted to be offset by adding 400 megawatts (MW) of wind power; 300 MW of energy efficiency; and a yet to be determined combination of wind, efficiency, or the closing, altering, re-powering or efficiency improvements […]

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Coachmen to Develop Alternative Energy Sources for Recreational Vehicles, Modular Housing

Coachmen Industries, Inc. (NYSE: COA) announced that it has entered into an agreement with Natural Source Energy Systems Inc. (NSESI) to research and develop recreational vehicles and modular housing that take advantage of biodiesel fuel and solar power. “Today, all of us are concerned about the degradation of our environment, and not just about energy costs. ‘Green’ is good business,” said Rick Lavers, CEO of Coachmen Industries. “We are very pleased to have teamed with up NSESI to explore practical applications for solar energy and biodiesel fuels, for both our RVs and our housing products.” To begin, Coachmen Industries is providing NSESI with a Sportscoach Class A diesel pusher, a Coachmen Class C diesel motorhome and a Coachmen fifth wheel trailer. NSESI will adapt the Coachmen units to incorporate new state of the art, high efficiency solar panels. Once the prototypes are ready, the companies will put the RVs through extensive testing using solar energy and biodiesel fuel across the country. NSESI is a multinational corporation that has been working on developing renewable energy products since 2005. Earlier this year, the company began marketing a wide variety of products including photovoltaic cells, solar heat panels, solar water heaters and biodiesel […]

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