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Thermal Energy Not to Proceed with University Project

OTTAWA, ONTARIO–(CCNMatthews – July 27, 2004) – Thermal Energy International Inc. (the "Company") (TSX-V: "TMG") (www.thermalenergy.com) announces that it has elected not to proceed with the recently announced (June 24 and July 8) University contract. Thermal Energy has decided not to proceed with the University contract with Johnson Controls LP (JCLP), at this time due to significant project design specification changes. These changed conditions do not allow the hi-end FLU-ACE solution to be cost effectively applied in order to achieve the maximum energy savings potential available, nor would the solution achieve the desired revenue and margins for the Company. Thermal Energy has been concentrating its resources on the successful closing of two other major, high profile, industrial contracts in association with Johnson Controls LP in Canada. These significant contracts are valued in excess of $ 2 million and are expected to render the desired margins for the Company. These contracts are expected to book by mid to late Fall 2004. Additionally, Thermal Energy is in the discovery and qualification phase for several other major project opportunities in the Midwest and Northeast U.S. About Thermal Energy Thermal Energy is a leading environmental and energy technology company since 1986. Headquartered in Ottawa, […]

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Clean Harbors Announces Second Quarter 2004 Financial Results

Company Exceeds Revenue and EBITDA Guidance; EBITDA Nearly Doubles to $19.4 Million and Operating Income Increases to $9.4 Million BRAINTREE, Mass.–(BUSINESS WIRE)–July 28, 2004– Clean Harbors, Inc. ("Clean Harbors") (NASDAQ: CLHB – News), the leading provider of environmental and hazardous waste management services throughout North America, today announced financial results for the second quarter ended June 30, 2004. Clean Harbors reported second-quarter 2004 revenues of $161.6 million, compared with $172.0 million in the second quarter of 2003. Second-quarter 2003 included one-time revenues of $19.2 million associated with the clean-up of a major oil spill on Cape Cod, Massachusetts. Income from operations in the second quarter of 2004 totaled $9.4 million compared with $0.3 million in the second quarter of 2003. The Company generated a second-quarter 2004 net loss of $(12.1) million, or $(1.63) per share, compared with a net loss of $(6.8) million, or $(0.57) per share a year ago. The net loss in the second quarter of 2004 includes a non-recurring charge of $6.9 million associated with the embedded derivative on the Company's Series C preferred stock, $7.1 million of net direct refinancing expenses and $1.1 million in other one-time costs associated with the refinancing of the Company's capital […]

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Ballard Power Quarterly Loss Narrows Slightly

TORONTO, July 28 (Reuters) – Fuel cell developer Ballard Power Systems Inc. (Toronto:BLD.TO – News) reported a slightly narrower loss in the second quarter on Wednesday, as falling costs outpaced declining revenue. Ballard said it had a net loss of $30.6 million, or 26 cents per share, in the quarter ended June 30. That compared with a net loss of $33.4 million, or 28 cents a share, in the second quarter of 2003. The year-before results included a $7.3 million write-off on an equity investment it made in May 2001 in MicroCoating Technologies Inc., as well as $1.8 million in restructuring costs. The firm saw a hefty foreign exchange gain of $8.3 million from the year before completely evaporate. This time around, Ballard recorded a foreign exchange loss of $1.5 million. Analysts polled by Reuters estimates had expected, on average, a net loss of 30 cents. The Vancouver-area company, which is still trying to make its alternative energy technology commercially viable, said it had sales in the period of $21.2 million, down from $29.1 million in the year-before period. But the cost of product revenues fell to $10.3 million from $18.5 million, while research and development expenses retreated to $22.2 […]

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Rocky Mountain Institute Joins the Chicago Climate Exchange

SNOWMASS, Colorado, July 27, 2004 (ENS) – The Rocky Mountain Institute based in Snowmass powers its offices with wind and solar sources, and uses energy-efficient buildings and equipment. But still the sustainability consulting organization generates greenhouse gases with business travel, heating fuel purchases and some electricity purchases. Now, to offset those greenhouse gases, the Rocky Mountain Institute has joined the Chicago Climate Exchange, Inc. (CCX), a market on which companies buy and sell greenhouse gas emissions credits, both organizations said Monday. As an associate member, the Rocky Mountain Institute (RMI) will quantify its greenhouse gas emissions each year, then purchase through the CCX market an equivalent amount of carbon dioxide credits to offset its emissions. RMI will then permanently retire the purchased credits from the CCX market, mitigating the Institute's impact on global climate change. "RMI is excited to work toward climate neutrality with its carbon emissions, both for the environmental benefits and the business case it will help us promote," said Rocky Mountain Institute CEO Amory Lovins. "RMI's work with clients to create climate mitigation strategies has shown us that greenhouse gas trading can play an important role in those strategies," Lovins said. CCX is the first system in […]

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Nevada University Will Produce Biodiesel With Ethanol

RENO, Nevada, July 27, 2004 (ENS) – The University of Nevada at Reno has won a $69,000 grant from the U.S. Environmental Protection Agency (EPA) to find a cleaner, more cost-effective way to produce biodiesel from waste cooking oil. Biodiesel fuel is non-toxic, biodegradable and creates less air pollution than petroleum diesel. It is less toxic than table salt and biodegrades as fast as sugar, the EPA says. The grant will be used to fund a pilot project that will use ethanol to convert both virgin and waste cooking oil to biodiesel in a large-scale mobile continuous process unit. The mobile production unit built by the university will be less expensive and cleaner to operate than the conventional process. Current methods to produce biodiesel are costly and require the use of methanol, which is toxic, corrosive and creates air pollutants. The project will use ethanol, which is less volatile, less toxic and cleaner. There is no shortage of cooking oil to put through the process unit. U.S. restaurants and hotels produce over three million gallons of waste cooking oil annually, most of which ends up in sewers and landfills. The university will utilize the biodiesel it produces to meet all […]

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