ZAP – Announces $10 Million Funding Arrangement
Electric vehicle manufacturer ZAP (OTCBB: ZAAP) is trading up 3.8% following the Company’s August 5, 2008 announcement that the Al Yousuf Group, a Dubai-based conglomerate and investor, is providing a $10 million financing arrangement for future working capital enabling ZAP to meet growing demand for its electric vehicles. The financing arrangement allows for advances by ZAP over the next few years.
“Orders for ZAP’s full-line of electric vehicles have been increasing as a result of the company’s rapidly expanding dealer network,” said ZAP CEO Steve Schneider. A year ago, ZAP had 20 dealers, a number that has increased to 50 today. The Company has also seen dramatic growth in scooter sales through its 70 scooter and bicycle dealers in the past year. ZAP added that demand for dealerships is growing in the US and abroad and expects the Company to add a significant number of new dealers and distributors over the next 12 months. To read the entire story, click here:
AMERICAN SUPERCONDUCTOR – Stock Suffers as Company Doubles Revenues but Falls Short of Wall Street Expectations
American Superconductor Corporation (NASDAQ: AMSC), a leading energy technologies company, is trading down 13% following the Company’s August 5, 2008 release of the financial results for the first quarter of fiscal year 2008 ended June 30, 2008.
Revenues for the first quarter of fiscal 2008 were a record $39.8 million, a 101 percent increase from $19.8 million for the first quarter of fiscal 2007. Gross margin for the first quarter of fiscal 2008 was 29.2 percent, compared to 18.1 percent for the first quarter of fiscal 2007.
The company recorded a net loss for the first quarter of fiscal 2008 of $6.1 million, or $0.15 per share. This compares to a net loss for the first quarter of fiscal 2007 of $9.7 million, or $0.27 per share. Net loss for the first quarter of fiscal 2008 includes a non-cash charge of $2.4 million, or $0.06 per share, for a mark-to-market adjustment on an outstanding warrant driven by the increase in the company’s stock price during the quarter. This compares with a $1.0 million, or $0.03 per share, mark-to-market charge in the first quarter of fiscal 2007. In addition to the mark-to-market adjustments on an outstanding warrant, net loss in each period includes non-cash, pre-tax charges for amortization of acquisition-related intangibles and stock-based compensation expense. Such charges totaled $5.2 million for the first quarter of fiscal 2008, compared to $3.2 million for the first quarter of fiscal 2007. To read the entire story, click here:
BIOSOLAR, INC. - To Unveil Details of “Breakthrough” BioBacksheet Solar Technology
BioSolar, Inc. (OTCBB: BSRC) is trading up 4.62% following the Company’s August 5, 2008 announcement that the “developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic solar cells’” Chief Technology Officer Dr. Stanley Levy will deliver a key oral presentation at the SPIE Symposium on Solar Applications and Energy on August 12th in San Diego, California. Dr. Levy will detail the various scientific breakthroughs underlying the company’s BioBacksheet™ product and its role in helping the photovoltaic industry drive the cost per kilowatt hour to lower levels.
Details regarding the development of BioSolar’s Backsheet™, hailed by the daily news feature “Today’s Green Minute” as a technology that “might revolutionize the industry,” will be unveiled during SPIE Optics+Photonics, the largest and most technically prestigious optical sciences and technology meeting in North America. The Solar Energy + Applications track of the conference is dedicated to finding ways to move toward secure, affordable, and environmentally sustainable energy to meet the world’s accelerating energy needs. To read the entire article, click here:
TRINA SOLAR LIMITED – Sponsors Spanish Soccer Team - Will Power Their New Stadium
Trina Solar Limited (NYSE: TSL) is trading flat following the Company’s August 5, 2008 announcement that the Company, a leading integrated manufacturer of photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, has agreed to supply photovoltaic (PV) modules for a new stadium being built by the Spanish Premier League football team Real Club Deportivo Espanyol de Barcelona (”Espanyol”).
Under this agreement, Trina Solar will supply Espanyol with 500 kW of PV modules for the construction of a roof-top PV installation for the club’s new stadium in Barcelona, which is scheduled for completion in late 2008. Trina Solar will become an official sponsor with its logo placed on the team’s official game and practice jerseys for the next three seasons, extending through July of 2011. The Company’s marketing rights also include logo placements at various high exposure areas throughout the planned 40,000 seat stadium and rooftop, which has been called “the most modern stadium in Spain.” To read the entire agreement, click here:
CYCLONE POWER TECHNOLOGIES
Cyclone Power Technologies (Pink Sheets: CYPW) is trading up 8% following the Company’s August 5, 2008 announcement that Allan L. Brown, a renowned engineer with over 56 years experience, has joined the Cyclone team.
The company has retained Mr. Brown to oversee its waste heat engine (WHE) project, a remarkable low-pressure, low-temperature steam engine that can run off heat generated from engine exhaust, inexpensive solar panels, oven heat, and many other heat sources that would otherwise be wasted and expelled into the environment. To read the entire article, click here:
