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New Shareholder Network Launched to Curtail Toxics in Products

The number and variety of shareholder resolutions at corporate annual meetings this spring demonstrates an unprecedented level of investor engagement and concern regarding the financial risks to share value posed by toxic chemicals in products. Corporations that are household names are being asked to address the role of toxics in their products, including, among others, CVS Corporation, ServiceMaster/ChemLawn, Whole Foods Market, Dow Chemical and DuPont. Seventeen investing organizations collectively representing more than $22 billion in assets under management issued a joint statement today calling for other financial professionals and investors to join with them in supporting shareholder resolutions seeking better disclosure regarding the risks of toxics in products, and better corporate strategies for moving to safer alternatives when they are available. “Unfortunately the corporate community has been largely failing to respond to emerging science showing health and environmental risks of an array of chemicals in products. Companies are not moving to safer alternatives quickly enough,” states Lauren Compere, Director of Shareholder Advocacy at Boston Common Asset Management, LLC. At the April 26 shareholder meeting, DuPont shareholders voted regarding whether to require a report setting forth options for the company to quickly eliminate the use and production of PFOA. PFOA is […]

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HydroGen Announces $26M Private Placement

HydroGen Corporation (HYDG.OB), a company that designs and manufactures multi-megawatt air-cooled phosphoric acid fuel cell (PAFC) systems, announced it signed definitive agreements for a private placement of its securities for gross proceeds of $25,775,000. Dr. Leo Blomen, Chairman and Chief Executive Officer of HydroGen Corporation, said, “Proceeds from this financing will be used to accelerate and expand our commercial demonstration and advanced manufacturing activities, as we execute our strategies for market introduction and for significant fuel cell module cost reductions. We thank our investors for their interest in the company and Piper Jaffray for their exceptional work in conducting this financing.” HydroGen’s business plan calls for the company to design, manufacture and sell 6-30 megawatt (MW) turnkey power plants, based on a standardized 2MW power island consisting of five of HydroGen’s 400-kilowatt (kW) modules. Additionally, HydroGen plans to generate recurring revenues from the sale of operations and maintenance services, and ongoing lease revenues for the 400kW modules. HydroGen Corporation is a developer of multi-megawatt fuel cell systems utilizing its proprietary 400-kilowatt phosphoric acid fuel (PAFC) cell technology. Utilizing fuel cell technology originally developed by Westinghouse Corporation, the company targets market applications where hydrogen is currently available and other drivers favoring […]

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Whole Foods Impresses Again

URL: http://www.forbes.com/2006/05/04/wholefoods-market-0504markets06.html?partner=yahootix Website: http://www.forbes.com/2006/05/04/wholefoods-market-0504markets06.html?partner=yahootix     

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Go Ahead, Bring On A Windfall Profits Tax

URL: http://www.forbes.com/2006/05/03/hoku-englobal-bronco-in_jo_0503soapbox_inl.html?partner=yahootix Website: http://www.forbes.com/2006/05/03/hoku-englobal-bronco-in_jo_0503soapbox_inl.html?partner=yahootix     

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