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Weekly Clean Energy Roundup:June 15, 2005

News and Events 18 Student Teams to Participate in DOE’s Second Solar Decathlon Energy Secretary Bodman Visits “Net-Zero Energy Home” Near Denver USDA awards $4.4 Million for Woody Biomass Projects New Tax Credit Sparks First Biodiesel Plant in Oklahoma University of Waterloo wins First Year of Challenge X Report on Bat Mortality at Wind Plants Yields New InsightsSite NewsDOE Launches New State Portal for Efficiency and Renewable Energy News and Events18 Student Teams to Participate in DOE’s Second Solar DecathlonDOE announced last week that 18 teams from colleges and universities in the United States, Canada, and Spain will participate in the second Solar Decathlon competition in Washington, D.C. The event runs from October 7th through the 16th and requires each Solar Decathlon team to build and operate an energy-efficient solar-powered home on the National Mall, forming a temporary “solar village.” As the name suggests, each Solar Decathlon team will compete in 10 contests that will judge architecture, livability, comfort, and power generation for heating and cooling, water heating, and powering lights and appliances, including an electric car. The event, which is open to the public, will feature cutting-edge architecture, engineering, and technology that could be applied in homes today, allowing […]

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Millennium Cell Receives Nasdaq Approval of Compliance Plan

Millennium Cell Inc. (NASDAQ:MCEL), a developer of hydrogen battery technology, has received formal approval from Nasdaq of its compliance plan which addresses comments received from Nasdaq concerning certain terms of the Company’s preferred stock. The Company received written notice from the holders of the Series A and C shares confirming that they intend to exchange their shares as part of the compliance plan. As a result, Millennium Cell expects no change to its listing status and no interruption in the trading of its stock on the SmallCap Market. The comments from Nasdaq related to certain voting rights and shareholder approval terms of the Company’s recently established Series A, B and C Convertible Preferred Stock. The Company’s compliance plan involves the amendment of the terms of the Series B Preferred and the non-dilutive exchange of the Series A and Series C shares for newly established Series A2 and C2 shares. On May 17, 2005, the Company filed a Form 8-K with the U.S. Securities and Exchange Commission detailing Nasdaq’s comments and the Company’s proposed compliance plan. Website: http://www.millenniumcell.com     

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United Solar Selects Site for 2nd Solar Manufacturing Facility

United Solar Ovonic LLC, a subsidiary of Energy Conversion Devices, Inc. (ECD Ovonics) (Nasdaq: ENER), has selected the site for its next thin-film solar panel manufacturing facility. Under a ten-year lease agreement between a unit of General Development Company LLC of Southfield, Mich., and United Solar Ovonic, General Development will construct a 160,000 square foot manufacturing facility for United Solar Ovonic at the Auburn Hills Commerce Park in Auburn Hills, Mich., near the current United Solar Ovonic manufacturing facility. Construction of the new facility is expected to begin in July following site plan approvals and issuance of building permits. Completion and occupancy of the new facility is scheduled for May 2006. When fully operational, the facility is expected to double United Solar Ovonic’s manufacturing capacity and to employ approximately 200 additional people. Compared to conventional solar technology utilizing single crystal or polycrystal silicon, United Solar Ovonic’s thin-film solar cells are 100 times thinner, do not use crystalline silicon material and, therefore, are unaffected by the worldwide scarcity of silicon. Tax credits valued at more than $6.1 million over 20 years and a $100,000 Economic Development Job Training Grant was an important factor in United Solar Ovonic’s decision to locate the […]

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Canada Invests $28.3 Million in Innovative Technology

The Honourable David L. Emerson, Minister of Industry, announced investments totalling $28.3 million through Technology Partnerships Canada (TPC) with three innovative British Columbia small and medium-sized enterprises. These investments will advance research projects with the potential to benefit both the forest and hydrogen industries across Canada. “In Budget 2005, the Government of Canada made a specific commitment to investing in enabling and environmental technologies,” said Minister Emerson. TPC will be investing up to $9.8 million toward a $48.9-million research project undertaken by CellFor Inc. in Vancouver to develop and scale up a novel plant reproduction system for the selection and mass production of naturally occurring, genetically superior conifer seeds and seedlings. This is the first time these seeds and seedlings will be made available to the forest industry, offering the potential to enhance the industry’s productivity and improve the sustainability of Canada’s forests. In addition, TPC will invest in two hydrogen fuel cell technology research projects with the potential to advance the hydrogen economy, leading to reduced greenhouse gas emissions and contributing to a sustainable environment. TPC will invest up to $9.5 million toward a $28.9-million project undertaken by Cellex Power Products Inc. in Richmond. Through this project, the company […]

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Evergreen Solar Added to Russell 2000, Russell 3000 Indexes

Evergreen Solar, Inc. (Nasdaq: ESLR), a low-cost manufacturer of solar power products, is scheduled to join the Russell 2000 and Russell 3000 indexes. The newly reconstituted Russell indexes will become effective at the close of the U.S. markets on June 24, 2005. “During the past 12 months, Evergreen Solar has achieved several significant milestones, including strong revenue growth, positive gross margins, technological breakthroughs and our strategic partnership with Q-Cells,” stated Evergreen Solar President and Chief Executive Officer Richard M. Feldt. “Our addition to the Russell indexes is a reflection of the Company’s substantial progress and will help continue to raise our visibility on Wall Street.” Membership in Russell’s indexes is determined primarily by market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies.

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