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Novozymes Reports Q1 Results

Novozymes reports growth of 14% in operating profit and 11% in sales for the first quarter, 2006. Outlook for 2006 is maintained. “Novozymes has made a good start to 2006,” says Steen Riisgaard, President and CEO. “We achieved pleasing top-line growth of 11%, positively affected by exchange rates. And underlying sales are also showing a higher rate of growth than in 2005. In addition, the first quarter has once again demonstrated the company’s ability continuously to optimise production and therefore increase profitability, despite rising energy and raw material prices. Sales are developing as expected, and the outlook for growth in both sales and in earnings remains unchanged. In January 2006 Novozymes acquired a small company in China within the biopolymers area. Novozymes continuously assesses potential candidates for acquisition, primarily outside the enzyme business area, which could strengthen the company’s position within the area in question.” Sales in the first quarter of 2006 rose by 11% to DKK 1,633 million from DKK 1,476 million in the same period of 2005. Measured in local currency, sales rose by just above 5%. Operating profit rose by 14% to DKK 313 million, compared with DKK 275 million in the first quarter of 2005. The […]

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Praxair To Build Hydrogen Storage System

Praxair, Inc. (NYSE: PX) is constructing a hydrogen storage facility to enable peak shaving, which will be the first of its kind in the industrial gases industry. Located in Liberty County, Texas, the facility will utilize an underground storage cavern. The peak-shaving system will be integrated with Praxair’s hydrogen pipeline network which serves customers from Texas City, Texas, to Lake Charles, Louisiana. It will significantly increase the on-demand availability of hydrogen for Praxair’s customers during periods of peak demand. “This new facility further demonstrates our commitment to be the supplier of choice by refineries and other customers in the Gulf Coast area,” said Mark Gruninger, vice president, South Region, for Praxair’s North American Industrial Gases business unit. The peak-shaving system will be brought on line in 2007, following the completion of a third world-scale steam-methane reformer later this year. The Gulf Coast pipeline network will then be able to supply 700 million cubic feet per day of hydrogen on a steady state basis, with peaking capacity of 800 million cubic feet per day. Demand for Praxair’s hydrogen on the U.S. Gulf Coast is expected to increase by 15% to 20% per year through 2010 based on refiners’ needs to comply […]

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WorldWater Signs $295K Public School Contract

WorldWater & Power Corp. (OTC BB:WWAT.OB) has signed a $295,301 contract to provide design, engineering and solar equipment for the Voorhees Township Public Schools in Voorhees, New Jersey. The primary contractor for the project is Ray Angelini, Inc. (RAI) of Sewell, New Jersey. Construction will begin immediately for the installation of photovoltaic panel array on the roof of the Voorhees Middle School on Hollyoak Drive. WorldWater’s patented electronics will automatically control power delivery to the school and manage the net metering of surplus electricity back to the utility to earn renewable energy credits. Quentin T. Kelly, Chairman of WorldWater & Power Corp. commented on the signing. “This is our first solar installation for a school in New Jersey. We are highly optimistic that more school boards will take advantage of the generous rebates from New Jersey’s Clean Energy Program that pay for about 50% of the solar equipment and installation. In addition, the school will be earning energy credits currently valued at $0.22 per kilowatt-hour while showing the community that solar power is a clean, highly cost-effective alternative to skyrocketing energy costs.” Chris Sherring, WorldWater’s Project Manager, added, “School buildings are ideal candidates for solar installations. They usually have very […]

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