1. Home
  2. Articles posted by: Rona Fried (Page 1488)

General Motors Selects Battery Supplier for Plug- ins

A123Systems announced that it will supply General Motors Corp. advanced Lithium Ion batteries optimized for plug in hybrid vehicles through its Tier 1 partner, Cobasys LLC. A123Systems’ batteries will be evaluated in prototype Saturn Green Line Vue plug-in hybrid SUVs later this year. GM recently announced its intention to produce a Vue Green Line plug-in hybrid SUV that has the potential to achieve double the fuel efficiency of any current SUV. “We are committed to offering commercially viable, sustainable and safe alternative vehicles,” said Denise Gray, GM’s newly appointed director of hybrid energy storage systems. “In order to do so, we need battery suppliers that can provide us with durable and reliable batteries that help us accelerate production-ready designs. We look forward to the testing and development stages with A123Systems.” Last month, A123Systems was awarded a $15 million development contract by the United States Advanced Battery Consortium, an organization composed of DaimlerChrysler Corporation, Ford Motor Company and General Motors Corporation. USABC awarded the contract in collaboration with the U.S. Department of Energy (DOE) to optimize the A123Systems proprietary doped nanophosphate battery technology for hybrid electric vehicle applications with a focus on systems that are high-power, abuse-tolerant, long lasting and cost […]

Read More

FuelCell Energy Establishes Worldwide Agreement

FuelCell Energy, Inc. (NasdaqNM:FCEL), a manufacturer of stationary fuel cell plants, has signed a marketing and distribution agreement with The Linde Group, a EUR 12 billion worldwide market leader in industrial gases and engineering with business in over 70 countries around the globe. The agreement goes into effect immediately – Linde has the non-exclusive right to sell and market Direct FuelCell® (DFC®) power plants worldwide except where FuelCell Energy already has granted exclusive distribution agreements. Linde will focus initially on opportunities in North America that fit into its overall strategy of developing sustainable energy solutions and providing low-carbon distributed generation solutions to industrial, commercial and governmental customers, with longer term plans to leverage this relationship into other geographies where Linde has market leadership. In the United States, Linde expects to market fuel cell power plants that operate on biogas, which qualify as renewable energy sources. DFC units can run on any hydrocarbon fuel source, including renewables like ethanol, anaerobic digester gas (generated in wastewater treatment) and other biofuels, as well as propane and methane. A third of FuelCell Energy’s currently installed or backlog units rely on biofuels or renewables like anaerobic digester gas. John Carolin, Deputy Head of Innovation Management […]

Read More

enXco Closes Financing of Minnesota's Largest Wind Farm

enXco, Inc. announced it has closed on the project financing for Minnesota’s largest wind farm, the $385 million Fenton Wind Energy Project under construction in Murray and Nobles Counties, Minnesota, with its financial partners Union Bank of California and GE Energy Financial Services. The project pushes the total US wind energy development portfolio for enXco, one of the leading developers, operators and managers of these projects in this country, past the $1 billion mark. Construction of the 205-megawatt wind farm, which enXco is managing, began in September, and it is set for commercial operation in the second half of 2007. Consisting of 137 GE 1.5 megawatt turbines, the Fenton wind farm will be operated and maintained by enXco Service Corporation. Union Bank of California, GE Energy Financial Services and other equity investors are financing the project. Union Bank of California acted as lead underwriter for both the debt and equity financing for the project and will syndicate some of the equity. GE Energy Financial Services is the largest equity investor in the project, with a 50 percent of the equity stake sold by enXco. Power from the Fenton project will be sold to Northern States Power, a subsidiary of Minnesota’s […]

Read More

Finavera Renewables Begins Trading

Wind and wave company Finavera Renewables Inc. (TSX VENTURE:FVR) opened for trading today on Canada’s TSX Venture Exchange. The listing was achieved via the reverse take over (RTO) of Cascade Minerals Inc., a TSX-V listed company. The RTO, which constituted the Company’s Qualifying Transaction with the TSX-V, values the Company at approximately CAD $35 million. Jason Bak, CEO comments, “This listing provides Finavera Renewables with a platform for growth as we continue to raise capital and advance our renewable energy projects and our wave energy technology.” Finavera is the only company listed on a North American exchange that is commercialising a wave energy technology. The company also completed a private placement which was announced on June 15, 2006. The placement consists of a total of 7,514,336 flow-through shares with a purchase price of $0.20 per share. Website: [sorry this link is no longer available]     

Read More

Clean Diesel Completes $9.5M Private Placement

Clean Diesel Technologies, Inc. (OTCBB:CDTI; AIM:CDT), a developer of chemical and technological solutions to reduce engine emissions, has secured commitments totaling US$9.5 million from new and existing individual and institutional shareholders, as well as from directors and management of the Company. The private placement will result in Clean Diesel issuing an aggregate of 7 million separable units of common stock and warrants at a price of US$1.35 per unit. CEO Bernhard Steiner said the proceeds of the financing will provide working capital, predominantly for the continued commercialization and protection of its core technologies and products at a pivotal time for the Company. Dr. Steiner added: “In light of the growing concern for the effects of global warming and air pollution, the world and its governments have adopted a more focused attitude towards greenhouse gas emissions and especially the need for the immediate reduction of particulate matter, oxides of nitrogen and fuel consumption. This acceleration and enforcement of legislation is requiring polluters to reduce tailpipe and other emissions. It is in precisely these markets that our technologies have worldwide application, especially when they enable cheaper and more effective use of existing pollution control systems.” About Clean Diesel Technologies, Inc. Clean Diesel […]

Read More

Millennium Cell Acquires Gecko Energy

Millennium Cell Inc. (NASDAQ: MCEL), a leading developer of hydrogen battery technology, has acquired Gecko Energy Technologies, Inc. through a merger of Gecko with a subsidiary of the company. Millennium Cell had previously owned approximately 34% of the outstanding shares of Gecko. In February of 2006, the companies entered into a three year agreement to focus on development of Gecko’s PowerSkin(TM) fuel cell technology to support the application of hydrogen batteries in portable electronic devices. Since that time, the collaboration has resulted in the development and small scale manufacturing of PowerSkin(TM), a thin passive planar fuel cell module that could be a leap forward in the architecture of power sources for portable devices. Earlier this year the companies collaborated to power a wireless camera and have received interest in these power sources from a number of potential customers. The two companies will initially focus on developing fuel cell power products to address military and consumer electronics applications that require less than 20 watts of power. “Our joint development programs with Gecko have convinced us that their fuel cell products will be successful in handheld devices and sensors that are used by both commercial and military applications,” says Adam Briggs, President, […]

Read More

Earth Biofuels Acquires Ethanol Facility

Earth Biofuels, Inc. (OTCBB:EBOF) announced that its subsidiary Earth Ethanol, Inc. has entered into an agreement with Liquafaction Corp. to construct and operate an ethanol production facility near Moses Lake, Washington. Earth Ethanol will own 80% of the facility, which is projected to produce 36 million gallons of ethanol per year by the end of 2007. The project is a renovation and expansion of an existing ethanol plant built in 1992 with an original capacity of approximately six million gallons per year. The facility will be upgraded with state-of-the-art processes and controls and will be able to process both corn and barley as feedstock for the ethanol production. Moses Lake is located in Grant County, the largest corn-producing county in the state of Washington, and is adjacent to the largest barley producing counties in the state. The ability to operate on two grains will help to reduce the exposure to rapidly changing corn or barley prices. Production at the facility is expected to increase incrementally – from an initial 12 million gallons per year in June of 2007 to 36 million gallons per year by November 2007. About Earth Biofuels Earth Biofuels produces and distributes biodiesel fuel through the company’s […]

Read More