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Suntech Power 3Q Profit Nearly Triples

Suntech Power Third-Quarter Earnings Nearly Triple on Strong Sales of Photovoltaic Cells and Modules Suntech Power Holdings Co. (NYSE: STP), China-based photovoltaic manufacture, saw its third-quarter earnings nearly triple on strong sales of PV cells and modules. Net income tripled to $28.7 million (19 cents per share) from $7.7 million (7 cents per share) in Q3 2005. Results were in line analyst estimates. Adjusted earnings rose to $32.8 million (21 cents per share). Revenue almost tripled to $163 million from $56.6 million last year, but fell short of the Wall Street estimate of $168 million. The company’s Japanese subsidiary, MSK Corp., accounted for 9 percent of sales. Suntech forecasts Q4 revenues of $166-$170 million. The projection excludes MSK, which is expected to deliver sales of $60 million to $64 million.

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Applied Ventures Invests in Solaicx

Applied Ventures, LLC, the venture capital fund of Applied Materials, Inc., has invested $3 million in Solaicx, a manufacturer of cost-effective, single-crystal silicon wafers for the solar photovoltaic industry. Solaicx plans to use the investment to expand its business with a second U.S. manufacturing site, scheduled for 2007 operation. Solaicx’s technology is based on a proprietary, continuous Czochralski crystal growing methodology that enables high-volume manufacturing of cost-effective, high-quality ingots for conversion into solar wafers. The Solaicx crystal growing equipment is expected to be up to five times more productive than traditional CZ systems that were designed primarily for the semiconductor industry. “Our investment in Solaicx aligns well with Applied Materials’ solar strategy and enables Applied to expand its presence in the solar value chain,” said J. Christopher Moran, vice president and general manager of Applied Ventures. “Applied is committed to providing the solar industry with technology and process innovations to reduce the cost per watt of solar power. Solaicx meets these requirements — offering improved manufacturing technology to facilitate the streamlined manufacturing of solar cell wafers.” Applied Materials, Inc. (Nasdaq:AMAT) is a leader in Nanomanufacturing Technology(TM) solutions for the fabrication of semiconductor chip, flat panels, solar photovoltaic cells, flexible electronics […]

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Moser Baer Invests in Stion

Moser Baer PhotoVoltaic Ltd, a subsidiary of Moser Baer India Ltd, has acquired a significant minority stake in Stion Corporation, a nanostructures technology company, formerly known as NStructures. Moser recently invested two solar concentrator technology companies, Solaria and SolFocus. Ravi Khanna, Moser Baer Photovoltaic CEO said, “This is in line with out strategy to reduce the cost of solar power generation significantly by straddling multiple future technologies and emerge as an engineering and technology driven company. We are decisively responding to the rapidly expanding solar PV market, where worldwide demand far outstrips supply.” This third investment is part of $17 million the PV subsidiary will be investing in emerging solar cell technologies. The company is investing in disruptive technologies like concentrator photovoltaic and nanotechnology that’s forcing the restructuring of dominant solar technologies and that has the potential to compete with existing PV and conventional energy technologies.

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Subsidies Keep trawlers Strip-Mining Sea

URL: http://www.canada.com/vancouversun/news/story.html?id=c69635f6-434e-49c6-bed5-1653a706f1ee&k=45736 Website: http://www.canada.com/vancouversun/news/story.html?id=c69635f6-434e-49c6-bed5-1653a706f1ee&k=45736     

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