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Johnson Controls Enters Renewable Energy Business

Johnson Controls, Inc. (NYSE: JCI) is expanding its business direction in the areas of designing, installing and servicing geothermal, solar, biomass, wind and other renewable sources as energy supply options for customers. “We expect demand from businesses and organizations for onsite renewable energy to escalate as fossil fuels such as oil and natural gas increase in price and concern grows about their economic and environmental impact. The real opportunity for customers involves combining renewable technologies with innovative energy efficiency strategies,” says Bruno Biasiotta, vice president, solutions, Johnson Controls. Don Albinger, a 25-year Johnson Controls veteran, has been named vice president of renewable energy solutions. Albinger will lead a team dedicated to the development of Johnson Controls renewable offerings to state, local and federal government agencies, school districts, hospitals, and private industry. Johnson Controls has implemented several renewable projects for its customers, such as: ยท Geothermal: Utah Department of Corrections. This heating plant project includes an onsite geothermal well that provides building heat for prison cell blocks, a furniture manufacturing shop, and a dormitory. It also heats water for use in showers and the kitchen and laundry systems. The waste water is piped to a neighboring tropical fish farm and a […]

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Imperium Renewables Scores Another $113M

Seattle biodiesel company Imperium Renewables has raised another $113 million in private equity, bringing the total to a dazzling $214 million. Imperium is building a 100 million-gallons-a-year biodiesel plant at the Port of Grays Harbor on the Pacific Coast. It will use the proceeds to begin planning for up to three additional similarly sized facilities across the country and around the world. Investors in Imperium’s second round include Technology Partners and Nth Power, both of which invested in the first $7.5-million round last year, as well as ArdsleyPartners, Attractor Investment Management, BlackRock Investment Management, Capricorn Management, Ecofin, Robeco, Silver PointCapital, Southport Energy Alternatives, Stark Biodiesel Investments, and TreatyOak Capital Management. The company is also in the process of obtaining a $101 million senior secured credit facility with Societe Generale Corporate & Investment Banking (SOGN.PA).

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Imperium Renewables Scores Another $113M

Seattle biodiesel company Imperium Renewables has raised another $113 million in private equity, bringing the total to a dazzling $214 million. Investors in Imperium’s second round include Technology Partners and Nth Power, both of which invested in the first $7.5-million round last year, as well as ArdsleyPartners, Attractor Investment Management, BlackRock Investment Management, Capricorn Management, Ecofin, Robeco, Silver PointCapital, Southport Energy Alternatives, Stark Biodiesel Investments, and TreatyOak Capital Management. Societe Generale Corporate & Investment Banking is arranging $101 million in debt financing.

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Interface 4Q Profit Doubles

Fourth quarter profits more than doubled, reports Interface Inc. (Nasdaq: IFSIA), due to strong sales, particularly in the company’s modular carpet division, which grew by 27%. Sales grew 14% to $295.9 million from $260.6 million in the fourth quarter of 2005, beating analyst expectations of $280.7 million. For the full year, sales climbed 9% to $1.08 billion from $985.8 million in 2005. Earnings for the quarter rose to $12.1 million (21 cents per share) from $5.7 million (11 cents per share) for the same quarter last year. For the year, earnings climbed to $10 million (18 cents per share), from $1.2 million (2 cents per share). “We are pleased to report one of the best fourth quarters in our history, finishing a year of continuously improving performance,” said Daniel Hendrix, CEO. “Our modular carpet business continued to lead our strong performance and achieved a 27% increase in sales compared with the year ago period. Sales were strong across all key regions with the positive trends in Europe providing the most significant driver of growth geographically. In addition, operating income from the modular carpet business increased 39%, primarily due to higher sales volume. Sales in our Bentley Prince Street business improved […]

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