1. Home
  2. Articles posted by: Rona Fried (Page 2313)

Corporate/Energy Tax Bill Debate Under Way in Senate

Yesterday, the Senate started debating a corporate tax bill that includes a $13 billion energy tax package with provisions for renewable energy, alternative fuels, energy efficiency and energy production. The restart of the on-again, off-again debate on the underlying bill marks the fourth time the Senate has tried to take up the legislation over the past two months. The bill repeals the Foreign Services Corporation/Extraterritorial Tax Income Act that was declared illegal by the World Trade Organization, replacing the act with a new set of benefits for manufacturers and exporters. Senate Energy and Natural Resources Committee Chairman Pete Domenici attached the energy tax language, which closely resembles the energy tax measure approved by the Senate Finance Committee a year ago, to jump-start the fortunes of his comprehensive energy bill. But if last week is any indication, the energy bill is on life support following a failed attempt to invoke cloture and end debate on the policy portion of Domenici's bill. That vote called into question whether energy legislation will be completed during this shortened election year, with many sources now predicting the issue will have to return next session, assuming Congress has the will to revisit energy following several years […]

Read More

USDA Announces $22.8 Milion for Renewable Energy Initiatives

Agriculture Secretary Ann Veneman announced the availability of $22.8 million in grants under the Renewable Energy Systems and Energy Efficiency Improvements program. This is slightly higher than last year, when $21.7 million assisted 114 applicants from 24 states develop or improve wind power, anaerobic digester, solar, ethanol and other bioenergy related systems or energy efficiency improvements. Applicants for the program must be agricultural producers or rural small businesses, U.S. citizens or legal residents, and have demonstrated financial need. Rural Development grant funds may be used to pay up to 25 percent of the eligible project costs. Eligible projects include those that derive energy from a wind, solar, biomass, or geothermal source, or hydrogen derived from biomass or water using wind, solar, or geothermal energy sources. Applications must be completed and submitted with a postmark no later than 75 days from today's publication of the offering in the Federal Register. Detailed information about program requirements and information on how and where to apply is included in the funding notice. Awards will be made on a competitive basis for the purchase of renewable energy systems and to make energy improvements. Website: [sorry this link is no longer available]     

Read More

Evergreen Solar Reports Record Quarterly Revenues

First Quarter Highlights: – Achieved record quarterly product revenues of $2.8 million – Doubled installed manufacturing capacity to six megawatts Evergreen Solar, Inc. (Nasdaq: ESLR), a developer, marketer, and manufacturer of photovoltaic (solar power) products for the worldwide market, announced results for the first quarter 2004. Commented Richard M. Feldt, President and Chief Executive Officer, "We had record product revenues and made good progress on our capacity expansion. The Marlboro factory achieved a 4.5 MW per year run rate by the end of March, up from 3 MW at the end of 2003. We are on target to quadruple our manufacturing capacity by year-end, significantly increase revenues and substantially improve product gross margins." For the three months ended March 31, 2004, product revenues were $2.8 million, an increase of $1.7 million, or 165%, from $1.1 million for the same period in 2003. The increase in product revenues was primarily the result of increased manufacturing capacity associated with capacity expansion, and increased selling activities. Research revenues for the first quarter were $262,000, a decrease of $119,000 from $381,000 for the same period in 2003. Product gross margin for the quarter ended March 31, 2004 was -61%, an improvement from -150% for […]

Read More

MTI Micro Receives Multi-Million Dollar Award from DoE

MTI MicroFuel Cells Inc. (MTI Micro), a leading developer of miniaturized fuel cells for portable handheld electronic devices, and a subsidiary of Mechanical Technology Inc. (Nasdaq: MKTY), announced it has received an award from the United States Department of Energy (DOE) Office of Hydrogen, Fuel Cells, and Infrastructure Technologies. MTI Micro has been selected for a three year, cost-shared development contract as part of President Bush's $1.2 billion hydrogen initiative. The program is expected to receive $3 million in funding from the DOE which will be matched by a like amount from the MTI Micro team, for a total program of $6 million. Shared with its subcontract partners, this award will fund future advancement of MTI Micro's mobile consumer direct methanol fuel cell (DMFC) platform, which generates electrical power in a passive mode using 100% (neat) methanol as fuel. By developing mass manufacturing techniques while simultaneously optimizing its unique DMFC technology platform, this collaborative work is expected to contribute to MTI Micro's planned improvements in cost reduction, reliability and performance. Website: http://www.mtimicrofuelcells.com     

Read More

Quantum to Receive US$2.6 Million DoE Funding

Quantum Fuel Systems Technologies Worldwide, Inc., (Nasdaq: QTWW) announced it has finalized contractual terms with the U.S. Department of Energy (DOE) and has begun phase I of its $2.6 million program to develop next generation hydrogen storage technologies. Quantum and DOE will work under a Cooperative Agreement to advance hydrogen storage systems in preparation for fuel cell vehicle commercialization. Quantum's goal is to optimize 10,000-psi technology, previously developed by Quantum and the U.S. Department of Energy, to deliver the next generation hydrogen storage. Phase I of a three-phase program involves advanced material characterizations, optimized engineering designs, and alternative processes to develop lower cost, high efficiency hydrogen storage systems. Subsequent phases will also include the development of "smart" systems incorporating advanced structural monitoring systems in collaboration with U.S. Department of Energy's national laboratories. "This project leverages the previous efforts of Quantum and the U.S. Department of Energy to develop the world's first, and what remains today as the only, validated and certified 10,000-psi hydrogen storage system for vehicles," said Alan P. Niedzwiecki, President and CEO of Quantum. "We are currently manufacturing hydrogen systems that are capable of delivering enough fuel to achieve a 300 mile driving range. This project will focus […]

Read More