Bush Pushes Advanced Energy Initiative
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US House Bill Mixed Bag for Bush Energy Proposals
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Tropical Forests Still Unprotected, Survey Finds
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Energy Corridors May cut swath Through Wild Areas
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US House Votes for Oil Drilling in Alaska Refuge
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Pacific Ethanol Announces $145M Private Placement
Pacific Ethanol, Inc. (Nasdaq: PEIX), announced it has entered into a definitive purchase agreement with a group of institutional investors to sell 5,496,583 shares of common stock at a price of $26.38 per share for gross proceeds of $145 million. The net proceeds of approximately $138 million (not including any proceeds that may be received from the exercise of the warrants) are expected to provide the Company with sufficient cash to both accelerate its stated goal of completing five ethanol production facilities totaling 220 million gallons per year by the end of 2008 and to expand its plans to complete additional ethanol production facilities, increasing total nameplate capacity to 420 million gallons per year by the end of 2010. Additionally, a portion of the net proceeds will be earmarked for strategic investments in corn and cellulose process technologies.
DayStar Completes $15 Million Financing
DayStar Technologies, Inc. (Nasdaq: DSTI), a developer and manufacturer of innovative Photovoltaic Foil(TM) products, announced completion of a $15 million institutional private placement. The proceeds of this financing will advance the Company’s recently announced execution strategy. Dr. John Tuttle, DayStar’s Chairman and CEO, stated, “We greatly appreciate the tremendous vote of confidence in DayStar that this financing represents from our new institutional investor. The capital infusion fulfills part of DayStar’s overall financing strategy and supports our recently announced execution plans. Achieving this financing milestone will provide for the rapid launch of our manufacturing expansion program and enables us to progress towards meeting our near term strategic objectives.” The Senior Convertible Debenture issued in the financing carries an interest rate of 7.5% and is convertible into DSTI common stock at $11.50 per share. Subject to certain conditions, the Company may elect to make installment payments in cash or stock priced at a 13.5% discount to the 5-day Volume Weighted Average Price of DSTI common stock prior to the installment payment date. The Company also issued warrants to purchase common stock that are fully exercisable at $12.65 per share six months from today’s date and will expire in May 2011. DayStar Technologies, […]
GreenShift Releases Shareholder Letter
GreenShift Corporation (GSHF.OB) chairman and chief executive officer, Kevin Kreisler, issued the following letter to its shareholders today: Dear Shareholders: We recently announced our decision to withdraw our election to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940. We expect that this withdrawal will become effective on June 30, 2006 and it will have the impact of changing the way we manage our company from an investment company to an operating company. This is important because we currently hold majority stakes in a number of operating companies. As many of you may have noticed, we initiated our plan this week to realign our portfolio around these companies and our core operating activities. I would like to take this opportunity to update you on these transactions and the plans for each operation. GS AgriFuels GS AgriFuels will be an 80%-owned publicly-traded subsidiary of GreenShift when the pending transfer of our Mean Green BioFuels companies to Hugo International Telecom, Inc. (HGOT.OB) closes at the end of this quarter. Hugo is changing its name to GS AgriFuels Corporation in conjunction with this closing. GS AgriFuels’ business model is based on the production and sales of clean […]
Green Star Unveils Advanced Biodiesel Reactor
Green Star Products, Inc. (GSPI.PK)announced it successfully commercially tested an advanced biodiesel reactor. According to the company, its reactors require an amazing two-minutes to complete the biodiesel conversion reaction versus over one-hour for the rest of the industry. This would mean that GSPI’s processing rate through the reactor is at least 30 times faster than the rest of the biodiesel industry. Three different sizes of biodiesel reactors were tested from January 2005 through February 2006 at the Bakersfield Biodiesel Plant Facility. Mr. LaStella, President of GSPI said, “The reactor’s capability is revolutionary. Most biodiesel plants processes require from one to one-and-a-half hours for complete chemical reactions to take place between vegetable oil, alcohol (methanol) and the catalyst. The GSPI reactors take less than two-minutes to complete the reactions. Furthermore, the advanced engineering design incorporates an inexpensive construction method to produce these reactors. The basic production cost to build them has been reduced to only $30,000 per reactor for a 10-million GPYC module. Smaller units will cost even less. This major engineering breakthrough will significantly reduce the costs and time to build biodiesel plants. The balance of the infrastructure — which includes land, building, electrical, storage facilities, railroad access and final […]
Negawatts for Positive Returns
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