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Catalytica Energy Systems Reports Q1 Results

Catalytica Energy Systems, Inc. (NASDAQ: CESI), a provider of emissions solutions for the power generation and transportation industries, reported financial results for the first quarter ended March 31, 2005. Total revenues for the first quarter of 2005 were $1,299,000, compared with total revenues of $986,000 in the same period of the prior year. Total costs and expenses for the quarter were $4,921,000, compared with $4,323,000 in the first quarter last year. Revenue growth and increased operating expenses between periods reflected a full quarter of SCR services business activities following the Company’s acquisition of SCR-Tech, LLC on February 20, 2004. Net loss for the quarter ended March 31, 2005 was $3,538,000, or a loss of $0.20 per share, compared with a net loss of $3,241,000, or a loss of $0.18 per share, in the same quarter of the prior year. Cash, cash equivalents, and short-term investments (collectively referred to as “cash”) at March 31, 2005 totaled $32,136,000, a decline of $3,456,000 from December 31, 2004. “During the quarter, we continued to make excellent progress in advancing development and commercialization efforts associated with our diesel emissions reduction solutions,” said Mike Murry, president and CEO of Catalytica Energy Systems. “Our first quarter results […]

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U.S. Senator Domenici Says Energy Bill Debate Begins Monday

by Mary O’Driscoll, June 7, 2005 Senate Energy and Natural Resources Committee Chairman Pete Domenici (R-N.M.) today said the energy bill will hit the Senate floor Monday for an anticipated two-week debate that could be complete by the Fourth of July recess. The accelerated schedule means tomorrow’s Environment and Public Works Committee markup of the nuclear energy provisions is likely to move quickly. EPW Committee members have reserved four amendments – two dealing with Homeland Security grants and one each on nuclear plant sirens and vulnerability assessment — but they are not likely to be included in the bill. The Finance Committee’s markup of the tax package — which could go as high as $11 billion over five years — will take place while the energy bill is on the Senate floor. Grassley is trying to keep the bill limited to the $11 billion figure but is taking into consideration attempts to amend the measure, a spokeswoman said. It remains unclear whether differences between Domenici and EPW Chairman James Inhofe (R-Okla.) on the energy bill’s ethanol provisions will delay the bill. Inhofe has notified Domenici that the energy committee’s approval of an 8 million gallon market for ethanol by 2012 […]

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Nevada Lawmakers Approve Measure Encouraging Energy Conservation

A wide-reaching energy bill designed to encourage conservation and boost the usage of renewable energy by Nevada’s utilities was one of the last bills approved by lawmakers before they adjourned their special session on Tuesday. “It is cutting-edge legislation. There is no question,” Jon Wellinghoff, a lobbyist for renewable energy and conservation interests, said of AB3, which is expected to be signed into law by Gov. Kenny Guinn. “It was a giant step for the state of Nevada in helping consumers manage their consumption costs and bringing an additional infusion of capital for purposes of conservation,” said Senate Commerce and Labor Chairman Randolph Townsend, R-Reno, who pushed the measure. AB3 directs the Nevada Commission on Economic Development to approve a 50 percent property tax reduction for up to 10 years to owners who have buildings that meet energy conservation standards. Under the bill, renewable energy systems are exempt from sales taxes. Installers of solar photovoltaic systems, which convert sunlight into electricity, will need to be licensed. The measure allows Nevada Power Co. and Sierra Pacific Power Co. to get energy credits for conservation programs that can be used to meet up to one quarter of their renewable energy requirements under […]

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