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Novozymes Announces 2006 Year-End Results

Danish Novozymes (NVZMF.PK), a world leader in enzyme production which is used in biofuels among many other industries, reported the company grew earnings by 11% and grew sales by 8% in 2006, which was fully in line with expectations. The company expects sales to grow by 7-9% in 2007 and earnings to grow by 5-7%. “We are very satisfied with the results for 2006,” says Steen Riisgaard, President & CEO. “Sales developed as expected and, although the price trend for raw materials and energy worked against us, our productivity improvements enabled us to achieve higher earnings than originally expected. Our earnings have reached the long-term financial targets, so during 2006 we increased the focus on accelerating growth in sales, both organic and through acquisitions. Our ambition is to achieve sales of DKK 10 billion in 2010. This is a very ambitious vision, requiring organic growth of 8-9% within the enzyme and microorganisms business, as well as further acquisitions. At the same time we are retaining the long-term financial targets. Website: [sorry this link is no longer available]     

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A123Systems Receives $40 Million

A123Systems, a leading supplier of high-power lithium-ion batteries, has completed a $40 million round of funding, bringing the total capital invested in the company to $102 million. A123Systems will use these funds to scale its technology development and manufacturing capacity for plug-in hybrid electric vehicle (PHEV) batteries, as well as to support the fast growing demand in the power tool, hybrid electric vehicle (HEV) and consumer applications markets. “As our doped nanophosphate technology continues to deliver superior power, safety and life, we’re experiencing tremendous growth and interest from companies across a vast array of industries looking to innovate new and existing products,” said David Vieau, CEO and President of A123Systems. This latest round was led by General Electric Commercial Finance which is significantly increasing its investment in A123Systems. Also participating is new investor The Procter & Gamble Company (NYSE: PG), the world’s leading consumer goods company and a leading manufacturer of consumer batteries through its brand Duracell; prior investors are also participating including Alliance Capital, FA Technology Ventures, North Bridge Venture Partners, Sequoia Capital, OnPoint, the Massachusetts Institute of Technology, Motorola, Qualcomm, and Desh Deshpande, the company’s board chairman. “As the worldwide leader in the battery category, we constantly evaluate […]

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Fuel Tech Awarded $2.6 Million Chinese Order

Fuel Tech, Inc. (Nasdaq: FTEK), a company that optimizates combustion systems in utility and industrial applications, has received its second NOxOUT ULTRA® contract in the People’s Republic of China. The $2.6 million order calls for the installation of a NOxOUT ULTRA system at Huaneng Beijing Co-Generation Co., Ltd. in support of four coal-fired thermal electric generating units to be retrofitted with selective catalytic reduction (SCR) systems for NOx control. Project completion is scheduled for late 2007, in advance of the 2008 Summer Olympics. Huaneng Beijing Co-Generation Co., Ltd. is owned by Huaneng Power International, Inc., part of China Huaneng Group, the largest coal-based power generator in the PRC. Fuel Tech’s NOxOUT ULTRA process provides for the safe and cost-effective on-site conversion of urea to ammonia for use as a reagent in the SCR process, eliminating the hazards associated with the transport, storage and handling of ammonia. John F. Norris Jr., President and CEO commented, “We are extremely pleased to report our second NOxOUT ULTRA project in the PRC, just weeks after our first announcement. This award builds on our growing momentum in the Chinese market and reaffirms the attractiveness of our urea-to-ammonia conversion technology, which is especially well suited for […]

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FuelCell Energy Receives 1.5MW Order

FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading stationary fuel cell manufacturer, has received orders for a total of 1.5 megawatts (MW) of fuel cell stack components from its European distribution partner, MTU CFC Solutions GmbH (MTU CFC). FuelCell Energy will deliver the stack components to MTU CFC in the current fiscal year, fabricating them at the company’s manufacturing facilities in Connecticut. MTU CFC will use the components to construct HotModule® fuel cells that it manufactures for the European market. MTU CFC combines the highly efficient technology of FuelCell Energy’s Direct FuelCell® (DFC®) stacks with a balance of plant design specific to the European market. Since 1989, MTU CFC has been a co-developer of FuelCell Energy’s DFC technology and has installed over a dozen DFC power plants that produce environmentally friendly electricity, heating and cooling at hospitals, telecommunication hubs and manufacturing plants in Germany. About FuelCell Energy FuelCell Energy develops and markets ultra-clean power plants that generate electricity with higher efficiency than distributed generation plants of similar size and with virtually no air pollution. Fuel cells produce base load electricity giving commercial and industrial customers greater control over their power generation economics, reliability and emissions. Emerging state, federal and international regulations to […]

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JV Paves the Way for World's Largest Wind Farm in BC

Katabatic Power Corp., a privately held wind energy developer, announced a joint venture with Deutsche Bank AG to develop the world’s largest wind farm in Northwest British Columbia (BC). Under the terms of the agreement, Katabatic will develop the first 700 MW of the full 3,000 MW Banks Island wind resource over the next two years, with construction to begin in early 2009. The joint venture represents a key milestone in the development of BC’s West Coast wind potential and advances the province closer to its goal of energy self-sufficiency. The full 3,000 MW project will be owned by Katabatic and Deutsche Bank AG through North Coast Wind Energy Corp., a subsidiary of Katabatic. Development efforts over the next two years will focus on project design, environmental permitting, turbine supply, and electricity purchase agreement acquisition. Total potential investment in the Banks Island wind resource is estimated at C$6 billion. “The Banks Island Wind Farm is a rare find and the joint venture with Deutsche Bank is a vote of confidence in the resource and Katabatic Power,” commented Anthony Duggleby, CEO. “We have a world-class wind resource that’s typically only found offshore, but here we get to work onshore, with good […]

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