ENER1 INC – completes acquisition of EnerDel
Ener1, Inc. (Amex: HEV – News) is trading flat following the Company’s August 13, 2008 announcement that the maker of advanced battery technology designed to power the next generation of hybrid and electric vehicles, strengthened its advantage in the lithium-ion battery race, by acquiring exclusive ownership of EnerDel, including essential manufacturing and intellectual property assets from former joint venture partner Delphi Automotive Systems LLC. The agreement was approved by the Honorable Judge Drain, who is overseeing Delphi’s efforts to emerge from bankruptcy. To read the entire article, click here:
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URANIUM ENERGY CORP – To Commence drilling in South Texas
Uranium Energy Corp (AMEX: UEC) is trading up 3.81% following the Companuy’s August 13, 2008 announcement of the finalization of drilling plans for the Company’s 100%-owned Nichols Project in Karnes County, Texas. The plan calls for 30 exploration holes for a total of approximately 18,000 feet of drilling. Permitting has been submitted and approved by the Texas Railroad Commission, Division of Surface Mining. Development of the Nichols Project aligns with the Company’s plan to establish satellite facilities for its advanced Goliad ISR Uranium Project. Drilling at Nichols is scheduled to commence next week. To read the entire story, click here:
RASER TECHNOLOGIES INC – Takes Delivery of PureCycle Generators
Raser Technologies, Inc. (NYSE Arca: RZ) is trading down 1.31% following the Companyh’s August 12, 2008 announcement that it has set the first five UTC Power PureCycle® power generating units at its Thermo geothermal power project in Beaver County, Utah.
Raser previously announced taking delivery of the 50 PureCycle® units from UTC Power, a United Technologies Corp company, that in aggregate are expected to produce 14 megawatts (MW) gross and 10 to 11 MW net, of clean renewable energy. Raser began transporting the power generating units to the Thermo project site today and plans to complete the installation of all 50 units by October this year.
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CANADIAN SOLAR INC – Beats Street Estimates with 2nd Q Results
Canadian Solar Inc. (Nasdaq: CSIQ – News) is trading off 9.13% despite releasing their August 13, 2008 release of its preliminary unaudited US GAAP financial information for the second quarter ended June 30, 2008 which considerably exceed Wall Street’s estimates.
Net revenues for the quarter were $212.6 million (including $5.1 million of silicon material sales), compared to net revenues of $60.4 million for the second quarter of 2007 (including $2.7 million of silicon material sales) and $171.2 million for the first quarter of 2008 (including $2.2 million of silicon material sales). Net income for the quarter was $10.5 million, or $0.36 per diluted share, compared to a net loss of $2.9 million, or $0.11 per diluted share, for the second quarter of 2007 and net income of $19.0 million, or $0.61 per diluted share, for the first quarter of 2008. Excluding share- based compensation expenses of $2.3 million and a one-time non-cash debt conversion charge of $10.2 million, non-GAAP net income for the quarter is $23.0 million, or $0.78 per diluted share. To read the entire story, click here:
NEW GENERATION BIOFUEL HOLDINGS - Awards contract to develop facility
New Generation Biofuels Holdings, Inc. (AMEX: GNB) is trading flat following the Company’s August 13, 2008 announcement that it has awarded Chicago-based ECE Design, a design contract to develop the design for its first full production biofuel manufacturing plant, with expected capacity of 25 million gallons of second-generation biofuel a year.
“ECE is pleased to be associated with New Generation Biofuels and their revolutionary technology for producing biofuels. We are currently working quickly, with detailed construction design plans expected in the third quarter,” said Bill Vassey, President of ECE Design. To read the entire story, click here:
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W2 ENERGY INC. – CEO Interviewed in Online Trade Journal
W2 Energy Inc. (Pink Sheeets: WTWO) a green energy company, is trading up 3.33% following the Company’s August 13, 2008 announcement that its CEO Michael McLaren will be interviewed in an article in BioFuelsJournal.com titled “On Site Methanol.”
The article covers W2 Energy’s plan for on-site methanol production for biodiesel facilities planned by W2 Energy to reduce costs of biodiesel. The article also covers W2 Energy’s plan to blend synthetic diesel and biodiesel to produce a superior renewable biofuel. To read the entire article, click here:
