Bush Budget Slashes Environmental Programs, Fails to Fund Clean Energy

An analysis of President Bush’s spending plan for FY2008 by the Natural Resources Defense Council, concludes no net relief for the environment. Remarks Heather Taylor, deputy legislative director for the Natural Resources Defense Council (NRDC): “When I first saw this proposal, I was reminded of the old Benjamin Franklin quote, ‘The definition of insanity is repeating the same thing over and over and expecting different results.'” “That’s what this budget reads like: the same thing, over and over again, the same inadequate proposals that were soundly rejected last year by a Republican Congress. “This budget should have been an opportunity to start moving America beyond oil. An opportunity missed. For instance, only 10 percent of the money for new energy development in this budget is for clean, renewable energy. The other 90 percent is for technologies from the past that pollute our world and fail to provide us economic growth. The programs funded by this budget would actually make global warming worse, not better. Other shortcomings include: Funding for just 3 percent of what the nation needs to keep our water clean; just 6 percent of what Congress agrees we need to put aside for open spaces for Americans to […]

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PVOne to Develop Largest PV Array in Florida

PVOne LLC, a developer and financer of large-scale solar power systems, is developing a ‘brownfields to brightfields’ project poised to be the largest photovoltaic array in Florida and among the largest in the Southeast United States. The project should be operational in the second quarter of 2007. The 250-KW PV system will be located at Rothenbach Park in Sarasota County, FL, on the site of the former Bee Ridge Landfill. Covering an area of 28,000 square feet, the solar system will use 1,200 PV panels connected to the grid. PVOne negotiated the site lease with Sarasota County officials, and a Green Solar Tag Agreement for installation of the PV system. PVOne also brought together experienced industry and financial partners to develop the first solar energy system under Florida’s Sunshine Energy Program, a voluntary green power program offered to residential and commercial customers who want to support cleaner, renewable electric generation. PowerLight Corporation, a subsidiary of SunPower Corporation, will work with PVOne to deploy the solar power system, and provide operation and maintenance services; third-party financing will be used to finance the $2.5 million ‘brownfields to brightfields’ project. There are more than 365,000 brownfields in the U.S. that are stabilized and […]

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Martek Withdraws Patent Appeal in Europe

DHA omega-3 innovator Martek Biosciences Corporation (Nasdaq: MATK) has elected to withdraw its appeal at the European Patent Office associated with its European DHA/ARA Oil Blends Patent. As a result, a November 2004 decision of the Opposition Division of the EPO stands and the patent is considered to be revoked. The patent was challenged by two competitors of the Company. The Company’s patent strategy has been to seek to protect its technologies with multiple layers of patents. The European DHA/ARA Oil Blends Patent was one of three patents covering Martek’s technologies used in infant formula in European markets. Management believes that this action will not have a material impact on the Company’s sales into the infant formula industry due to its other issued European patents that protect its individual DHA and ARA technologies and the terms of certain contracts the Company maintains with its infant formula customers. As part of the Company’s patent strategy, divisional applications for DHA/ARA Oil Blends patents have been filed and are pending at the EPO to seek additional protection for Martek’s blended oil technology. The divisional application process allows greater flexibility in addressing issues such as claim amendments than is available during an appeal. Martek […]

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Color Kinetics Reports Financial Results

Color Kinetics Incorporated (Nasdaq: CLRK), a leading innovator of LED lighting systems and technologies, announced its results of operations for the fourth quarter of 2006. Revenues were $18.2 million, an increase of 25% from the $14.5 million reported in the fourth quarter of 2005. GAAP net income was $1.6 million or $0.07 per fully diluted share. Non-GAAP net income was $2.2 million or $0.10 per fully diluted share prior to non-cash charges of $639,000 associated with the FAS 123R accounting standard. Revenues for the full year ended December 31, 2006 were $65.4 million, an increase of 24% from the $52.9 million reported in 2005. GAAP net income was $3.2 million or $0.16 per fully diluted share. Non-GAAP net income prior to the stock-based compensation charges was $5.6 million or $0.28 per fully diluted share. “We believe there’s little doubt among industry leaders that LEDs will play an integral role in the future of lighting,” said Bill Sims, President and CEO, Color Kinetics. “Our strong financial results reflect the exciting growth and adoption we’re witnessing across multiple sectors — including newly expanded markets for our lighting systems, and the accelerating traction of our licensing program. We have held firm to an […]

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EoPlex Receives $8M in Funding

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NanoLogix Achieves Initial Sales of Hydrogen Powered Generators

NanoLogix, Inc. (NNLX.PK), an industry innovator in the research, development and commercialization of nano-biotechnologies, announced the initial sale of hydrogen powered generator engines, which had been converted from gas engines. This was done in conjunction with Precision Performance Co. of Brookfield, Ohio, a private company. Mitchell Felder, M.D., NanoLogix Chairman of the Board and Chief Executive Officer, stated, “I am pleased our research and development have enabled us to reach this company milestone. We have successfully converted gas powered engines to hydrogen power. These initial sales will be recognized in the first quarter of this year. Our sales initiatives will include small and large projects, including motorcycles, diesel engines and numerous combustion engines.” Precision Performance Co. in partnership with NanoLogix has successfully converted gas powered engines to hydrogen power on numerous commercial engines. NanoLogix has retained Precision Performance Co. to handle conversion specifications based on the NanoLogix pending intellectual property in this field of endeavor. About NanoLogix, Inc.: The Company owns or has the rights to 32 patented technologies. The Company is currently focused on the production of hydrogen from agricultural feedstock, industrial wastewater and municipal waste streams to create new sources of energy. NanoLogix is presently operating a hydrogen […]

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