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Richard Branson Proposes Plan to Cut Aviation Emissions

Sir Richard Branson, Chairman of Virgin Atlantic, is championing a plan that would reduce global warming emissions from the airline industry by 25%. The actions he is proposing can vastly improve energy efficiency today. He has written to airlines such as British Airways, American Airlines and Easyjet; engine and aircraft manufacturers such as Rolls Royce and Boeing; and airport operators including BAA in the UK, urging them to support a new cross-industry forum which would implement practical ways of tackling climate change. In his letter to aviation industry leaders, Sir Richard writes, “We need to accelerate the pace at which we reduce aviation’s impact on the environment. We cannot ignore that aviation does create environmental problems (around 2% of global CO2 emissions), although equally it produces significant economic and social benefits (8% of the world’s GDP).” At the heart of its vision is the creation of “starting grids” for all aircraft departures. A starting grid is a holding area, close to the runway, consisting of several parking bays for aircraft. It means that aircraft can be towed closer to a runway before take-off, substantially reducing the time that engines need to be running. After being towed by a small tug […]

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Cree Licenses White LED for Backlighting Laptops

LED industry leader Cree, Inc. (Nasdaq: CREE) and Lite-On Technology Corporation announced a licensing arrangement that will enhance both companies’ ability to aggressively develop and market white LED-based products for backlighting laptop computer displays. It is the first license Cree has granted specifically for a system-level application targeting laptop displays. The arrangement includes a license for Cree’s pioneering white LED patent, U.S. Patent No. 6,600,175. The license authorizes Lite-On, a strategic chip customer for Cree located in Taiwan, to manufacture and sell light bars incorporating Cree white LEDs for use in backlighting the LCD displays of laptops. “Cree’s ‘175 patent is particularly important to companies manufacturing white LED-based display products for the laptop and PC markets, because avoiding IP disputes is essential for PC market acceptance,” noted Scott Schwab, Cree vice president and general manager of optoelectronics. “This arrangement with Lite-On is an important first step to addressing the emerging LED market in laptop displays.” “We knew we needed a strong LED technology with a broad intellectual property portfolio for our new backlighting products,” said Rex Wu, Lite-On associate vice president. “Lite-On turned to Cree to provide a significant competitive advantage for products sold into the laptop backlighting marketplace.” About […]

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Power-One and Magnetek Sign Acquisition Agreement

Power-One, Inc. (NASDAQ:PWER) has signed an agreement to purchase the Power Electronics Group of Magnetek, Inc. (NYSE:MAG). Power-One will acquire Magnetek’s Power Electronics Group for $71.7 million in cash and assumption of approximately $16.7 million in debt. The transaction is expected to close by the end of October. “The combination of Power-One and Magnetek’s Power Electronics Group brings together two businesses with considerable expertise in delivering innovative solutions to the expanding digital power management market,” said Bill Yeates, Chief Executive Officer of Power-One. “Not only is our technology complementary in many respects, but the addition of the Power Electronics Group’s R&D success and design capabilities will provide our customers with a broader and more powerful set of solutions while allowing us to further address the growing needs within the industry.” “The divestiture of Magnetek’s embedded power-electronics business accelerates our strategy of focusing on digital power and motion control systems for material handling, elevators and mining, as well as large commercial alternative energy applications,” said Thomas Boren, Magnetek’s Chief Executive Officer. “We believe that it also will enable us to pay off Magnetek’s debt, make major contributions to the Company’s pension plan, increase Stockholders’ Equity, cut corporate overhead, boost profit margins […]

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