Composite Technology's EU Energy Enters Into Patent License With GE Monday October 9, 8:05 am ET
IRVINE, Calif., Oct. 9 /PRNewswire-FirstCall/ -- Composite Technology Corporation (CTC) (OTC Bulletin Board: CPTC - News) is pleased to announce that its subsidiary, EU Energy Inc., (EU Energy), has licensed certain patents from GE Energy's wind business (GE Energy). While EU Energy's range of wind turbines employ their own technology and designs, the license from GE Energy will permit EU Energy to continue to sell its traditional model DeWind D6 and D8 wind turbines incorporating the use of conventional power conversion electronics in markets where the GE patents are applicable. The DeWind D6 is available in 50Hz and 60Hz worldwide and the DeWind D8 available in 50Hz worldwide. ADVERTISEMENT
Both companies will independently carry on with their respective businesses of designing, manufacturing and selling wind energy turbines, and contributing to the development of the wind energy sector. EU Energy's DeWind D8.2 and D8.1 wind turbines use a unique hydrodynamic torque converter that allows a synchronous generator to connect directly to the grid without the use of power electronics. This license is not applicable to these particular models. Victor Abate, vice president of renewable energy for GE Energy stated: "GE Energy's wind business is actively engaged in licensing its key patents for wind turbine control technologies to help suppliers and customers meet the rapidly growing need for clean, efficient renewable wind energy."
Michael Porter, President of CTC and EU Energy stated: "The signing of this license with GE is important to fulfill terms of an Irrevocable Letter of Commitment to purchase 400 megawatts of DeWind D6 turbines for delivery in the US commencing no later than the first quarter of 2008. Developing the renewable wind energy sector is vital to any developed economy and we are pleased to be able to offer our traditional range of D6 and D8 turbines using certain of GE Energy's power electronics patent portfolio."
About GE Energy:
GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2005 revenue of $16.5 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE's corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
With wind turbine design, manufacturing and assembly facilities in Germany, Spain and the United States, GE Energy is among the leading providers of wind energy products and support services ranging from commercial wind turbines and grid integration products to project development assistance and operation and maintenance. The company's knowledge base includes the development and/or installation of more than 8,500 wind turbines with a total rated output of 7,600 megawatts.
For more information, contact: Dennis Murphy Ken Darling or Howard Masto GE Energy Masto Public Relations +1 678 844 6948 +1 518 786 6488 dennis.murphy@ge.com kenneth.darling@ge.com howard.masto@ge.com
About CTC: Composite Technology Corporation, based in Irvine, California, USA develops, manufactures and sells high performance electrical transmission and renewable energy generation products through its subsidiaries:
* EU Energy Inc., and EU Energy Ltd., produce, sell, and license the DeWind series of wind energy turbines including the 50Hz D6 rated at 1.25 megawatts (MW) and the 50Hz D8 rated at 2MW, both noted for their reliability. In 2007, the new 2MW D8.2 is planned to be delivered to North American customers from assembly operations in Lubeck, Germany. The D8.2 utilizes the advanced WinDrive® hydrodynamic torque converter developed by Voith AG with a synchronous AC generator that is able to connect directly to the grid without the use of power conversion electronics. The DeWind 8.2 will be available in both a 60Hz and 50Hz version. * CTC Cable Corporation produces composite rod for use in its proprietary ACCC aluminum conductor composite core. ACCC conductors virtually eliminate the sag in power lines caused by high current and high line temperatures. ACCC conductors also reduce electricity line losses, and have demonstrated significant savings in capital and operating expenses when substituted for other conductors. ACCC conductors enable grid operators to eliminate blackouts and brownouts, providing a 'reserve electrical capacity' by operating at higher temperatures. ACCC conductors are an innovative solution for reconductoring power lines, constructing new lines and crossing large spans. ACCC composite rod is delivered to qualified conductor manufacturers worldwide for local ACCC conductor production and resale into local markets.
Largo Vista Group Appoints Denise Deng Chief Financial Officer Wednesday October 11, 6:00 am ET
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Largo Vista Group, Ltd. (OTCBB:LGOV - News) announced today that Albert Figueroa resigned as registrant's Chief Financial Officer. At the same time, Denise Deng was appointed as registrant's Chief Financial Officer. ADVERTISEMENT
Ms. Deng, registrant's new Chief Financial Officer, has over nine years of diverse financial management experience. During these nine years, she has held a variety of financial planning, analysis and accounting positions. Ms. Deng majored in accounting and obtained the qualification of accounting profession from Henan Finance Institute in China. She graduated from Normal University of Center of China with a Major in Enterprises Management. Ms. Deng has been involved with Largo Vista Group, Ltd. since 1999 and started working as Financial Manager of Kunming Xinmao Petrochemical Industry Co., Ltd. and created the accounting system. Currently, Ms. Deng is the General Manager of Zunyi Jiahong Gas Company, Ltd. (for Largo Vista Group) and has created a new management system for the business. The company is satisfied with her work and believes that Ms. Deng will be a good Chief Financial Officer.
Registrant and Ms. Deng have entered into an Employment Agreement dated as of October 7, 2006 pursuant to which Ms. Deng will serve as registrant's Chief Financial Officer for an initial term of one year, subject to automatic renewal from year to year thereafter unless either party gives notice of termination at least ninety days prior to the automatic renewal date, at a base salary of $18,000 per year.
The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the Company's ability to produce and market products and or services and other risks detailed from time to time in their Company's reports with the Securities Exchange Commission.
Contact: Largo Vista Group, Ltd. Investor Relations, 949-252-2180
Hybrid Technologies, Inc. 'OTCBB:HYBT' and GOOGLE 'NASDAQ:GOOG' Show the Power of Lithium to Zeitgeist Guests Colin Powell, Al Gore and the Nation's Top Business Leaders Wednesday October 11, 7:30 am ET
Sergey Brin and Larry Page Bring World Leaders Together at the Conference
Hybrid Invited To Highlight Lithium NYC Taxi At Prestigious Google Zeitgeist Conference
NEW YORK, NEW YORK and PALO ALTO, CALIFORNIA--(MARKET WIRE)--Oct 11, 2006 -- Hybrid Technologies, Inc. (OTC BB:HYBT.OB - News), http://www.hybridtechnologies.com, emerging leaders in the development and marketing of lithium powered products worldwide, are proud to announce that Hybrid's latest lithium vehicles were selected by search engine powerhouse Google for presentation at the prestigious Zeitgeist Partner Forum. For an enhanced press release, please click here: http://www.hybridtechnologies.com/media.php?mediaID=061011
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Google co-founders Larry Page, president of Products, and Sergey Brin, president of Technology, bring together world leaders with innovative companies in an annual partner forum designed to challenge and solve world issues. This year's invitation-only conference featured CEO's from most major U.S. media corporations, as well as presentations from leaders in media, technology, entertainment, science, and philanthropy.
Sergey Brin and Larry Page, known for their environmental and innovative corporate management style, took Hybrid's lithium Smart Car and New York City's newest star, the all-lithium taxi, for a spin around the sprawling Google campus located in Mountain View, California.
The forum's featured speakers included former Vice President of the United States Al Gore, former Secretary of State Colin Powell, and Jordanian Queen Noor.
Hybrid Technologies, Inc. (OTC BB:HYBT.OB - News) is an emerging leader in the development and marketing of lithium-powered products worldwide. Superior technology, coupled with aggressive marketing, positions Hybrid Technologies to lead the world into pollution-free, zero emissions living without consumers having to give up the comforts and performance to which they are accustomed.
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
Contact: Contacts: Media Contact: Hybrid Technologies, Inc. 1-888-HYBTECH (1-888-492-8324) Email: pr@hybridtechnologies.com
Mariner Energy Makes Debt Exchange Offer Tuesday October 10, 6:24 pm ET Mariner Energy Offers to Trade 7.5 Percent Senior Notes for New Debt
HOUSTON (AP) -- Oil and gas producer Mariner Energy Inc. on Tuesday said it has begun an exchange offer for its outstanding 7.5 percent senior notes due 2013. Holders of the notes, which were issued privately in an aggregate principal amount of $300 million, may exchange them for a like principal amount of new issue of 7.5 percent senior notes due 2013.
Terms are essentially the same. However, transfer restrictions, registration rights and special interest provisions on the original notes will no longer apply.
The offer expires Nov. 9.
Shares of Mariner Energy fell 2 cents in aftermarket trading to $19.58 after rising 59 cents to end at $19.60 on the New York Stock Exchange.
WorldWater & Power Achieves Record Revenue for Quarter and Gives Guidance for Fourth Quarter Tuesday October 10, 12:39 pm ET
PENNINGTON, N.J.--(BUSINESS WIRE)--WorldWater & Power Corp. (OTC BB:WWAT.OB - News), developer and marketer of proprietary high-horsepower solar systems, today announced preliminary results for the third quarter ended September 30, 2006 and provided guidance for the remainder of 2006 and for 2007. Revenue for the third quarter, a record, will be in the range of $5.8 - $6.1 million, and gross margins will also be at record highs. In addition, the company announced that it is making substantial progress toward completion in the fourth quarter of its largest installment to date, the $7.8 million Farm ACW avocado ranch in California. WorldWater & Power expects that revenue in the fourth quarter will be between $8.5 and $9.2 million, with additional improvement in gross profits. ADVERTISEMENT
"We are very pleased to announce that, as expected, we will post our best quarter in the company's history when we report full financial results in mid-November," said Quentin T. Kelly, Chairman of WorldWater & Power Corp. "We are on course for continued improvement during the fourth quarter and have basis to project significantly stronger growth in 2007. We also expect to close the Entech acquisition by the end of 2006 and are currently submitting joint bids on projects as large as 50 Megawatts in size. In addition, geopolitical events continue to provide tremendous growth opportunities for the solar industry."
About WorldWater & Power Corp:
WorldWater & Power Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that provides solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Power Corp., visit the website at http://www.worldwater.com.
Powder River Continues Aggressive Acquisition Strategy, Increases Texas Holdings Wednesday October 11, 7:00 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Oct 11, 2006 -- Powder River Basin Gas Corp. (OTC BBRVB.OB - News), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced it has purchased another property in south Texas, East McFadden Field. ADVERTISEMENT
This property is located in Victoria County and is over 4,600 acres. Currently, East McFadden Field has three wells that are producing a total of 40 BOPD and 350 mcf natural gas per day. There are also an additional 52 shut-in wells on this project. Powder River intends to re-work all of these wells and install Electronic Submersible Pumps, or ESP units, which are capable of moving an average of 3000 barrels of fluid per well per day. The average oil cut is five percent. This equates to 50 BOPD per 1000 barrels of fluid moved.
The service work and ESP units are being supplied by Weatherford International, who has participated in The Company's research and due diligence on the project.
The property's total proved developed reserves are valued at 2.45 million barrels of oil and 2.5 BCF gas, which equates to $170 million undiscounted or $83.2 million PV 10% net income to the Powder River interest. These numbers, which were obtained from an independent engineering report are based on current oil and gas prices.
Powder River Basin Gas Corp. plans to begin the additional rework and development of the 52 wells and start production before the end of the year.
McFadden Ranch also has 79 additional locations that have been identified for offset drilling on the project. Powder River Basin Gas Corp. plans to complete a new 3-D seismic survey on the project, which is close to the successful Goliad County project.
"This is an exciting purchase for Powder River, as it brings our Texas holdings to close to 7,000 acres. McFadden Ranch is an excellent addition, as it is already producing and generating revenue while we rework the other 52 wells. In addition it provides a long term drilling and marketing project to fulfill Powder River's requirements over the next few years," stated Powder River Basin Gas Corp. CEO Brian Fox.
Powder River Basin Gas Corp. is active in production, acquisition, and marketing of crude oil and natural gas products.
Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.
This press release may contain 'forward-looking statements' as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Contact: Contacts: Powder River Basin Gas Corp. Steve Weiss Investor Relations (609) 529-3671 Email: info@powderrivergascorp.com Website: http://www.powderrivergascorp.com
Princeton Research Inc. Mike King Market Analyst (702) 650-3000
Falcon Oil & Gas Ltd. Provides Update on Well Completions Wednesday October 11, 7:00 am ET
BUDAPEST, Hungary, Oct. 11 /PRNewswire-FirstCall/ -- Falcon Oil & Gas Ltd. (TSXV: FO) provided an update on its oil and gas exploration activities in Hungary. Well Completion Schedule
Falcon has entered into two separate contracts with well service suppliers for equipment to secure a hydraulic work-over rig ("HWO") and a frac crew, as a necessary part of its completion process on three wells (the Mako-6, Pusztaszer-1, and Szukketas-1). The HWO rig, which was not available until recently, and the frac crew are scheduled to arrive on location by November 30, 2006, when fracing and stimulation on the Mako-6 is anticipated to begin. The rig is capable of handling the high pressures and hook loads of the deep wells. Further, the HWO auxiliary equipment provided by the HWO contractor is capable of handling high pressure pumping. Falcon also plans to use the HWO rig (as well as other rigs) on its shallow wells to provide desired safety margins during completion operations on those wells.
Falcon Chairman, Marc Bruner, stated, "With the HWO rig's significant capabilities, Falcon believes that this rig optimizes safety and performance, and that these contracts represent an important step toward completing these wells."
Falcon plans to perform multiple fracs on these three Mako Trough wells, with the number varying from well to well. Fracing and stimulation activities will start at the lowest interval and move up sequentially in order to fully evaluate each prospective interval. As at the date hereof, Falcon's internal geological review has identified the following number of prospective intervals:
Pusztaszer-1 well 4 Szukketas-1 well 13 Mako-6 well 49
The number of prospective intervals is subject to change during fracing and stimulation activities. Falcon plans to move the frac equipment between wells during testing, thereby allowing operations to take place on all wells concurrently. Falcon believes that the fracing and testing of any one of its wells could take approximately three months, depending on conditions encountered within each well during the process. Each potential interval in each well will need to be perforated, tested, evaluated for fracing, fraced and then tested again. Falcon will announce test results from time to time during this process.
Gas Gathering Infrastructure
In order to decrease or eliminate flaring of gas at the Mako-6 well (if production is achieved), Falcon plans to enter into one or more contracts to transport gas via a gathering line from the Mako-6 well to an existing natural gas pipeline approximately 11 kilometers from the Mako-6 well. The existing pipeline is connected to a gas processing plant. Falcon is engaged in negotiations to acquire the necessary rights-of-way for the gathering line. Assuming the rights-of-way and related contracts are obtained, construction of such a gathering line and related facilities is expected to be completed by year-end. Once operational, this gathering line will also accommodate future natural gas production from the Mako-7 well, if testing is successful on that well.
About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd. is a British Columbia corporation which is in the business of oil and gas exploration and production. It has operations in Hungary through its wholly-owned subsidiary TXM Oil and Gas Exploration, LLC, and in Romania through its wholly-owned subsidiary JVX Energy Corporation. Further information about Falcon is available at http://www.falconoilandgas.com.
Contacts: Falcon Oil & Gas Ltd. Marc A. Bruner, President, Chairman & CEO Michael K. Lam, Corporate Development North America (416) 303-8810 Alexander Hubbard-Ford, Corporate Development Europe +44 (0) 79 8448 1541
Canada - Brisco Capital Partners Corp. Graeme private (403) 313-9663
United Kingdom - 4C-Burvale Carina Corbett John Carrick-Smith +44 (0) 20 7907 4761/0
Morgan Creek Energy to Acquire Additional Little Cedar Creek Lease Acreage in Conecuh County, Alabama Tuesday October 10, 9:15 am ET
DALLAS, Oct. 10 /PRNewswire-FirstCall/ -- Morgan Creek Energy Corp. (OTC Bulletin Board: MCRE; Frankfurt, Berlin: M6C) (the "Company"), has entered into an agreement to acquire a further 385 acres of oil and gas targeted development leases in the Little Cedar Creek Field located in Conecuh County, Alabama from U.S. Gas Systems Inc. of Mississippi for $385,000 cash and $385,000 in restricted stock in the capital of the Company priced at the 30-day weighted average preceding the date of closing. ADVERTISEMENT
The new acreage is in addition to the Company's 103 acres in the Little Cedar Creek Field under acquisition first announced last month and forms part of the 150 acres announced on September 21, 2006. The new 5-year lease acreage is part of the Company's expansion plans into the Little Cedar Creek Field and the forging of a stronger working affiliation with U.S. Gas Systems Inc. Further leases are planned with the Morgan Creek Energy's mandate to expand its acreage in the Little Cedar Creek Field. The Company will own acreage in four separate sections and bring the Company's acreage position in the field to approximately 488 acres. Wells can be drilled on 160-acre spacing units.
Located in the Little Cedar Creek Field in Conecuh County, Alabama, the acreage sits atop a Smackover Limestone gas drive reservoir located at approximately 11,500 and 11,880 feet in depth. Management estimates the field has produced 2.4MM barrels of oil and 2 BCF of casinghead gas. The bulk of the production has been produced in the last four years. This field has yielded only one dry hole to date.
About Morgan Creek Energy Corp.: Morgan Creek Energy Corp. is a natural resource exploration company engaged in the acquisition and development of oil and natural gas properties in the United States. For further information see: http://www.morgancreekenergy.com
China's National Railroad Conference Projects Major Expansion Wednesday September 27, 9:45 am ET
CARSON CITY, Nev., Sept. 27 /PRNewswire-FirstCall/ -- America Asia Petroleum (OTC Pink Sheet: AAPM) the news from the China Central Government's annual conference focusing on their rail system is good news for America Asia. China presently transports raw materials and petroleum products by rail. The improvement and expansion of the country's railroad network means easier access to additional Provinces and local markets in China. ADVERTISEMENT
China's annual National Railroad Conference declared that China's railroad system now boasts 22090km of rail capable of 120km/hour, 14025km of rail capable of 160km/hour, and 5371km of rail capable of 200km/hour. At the Conference, Mr. Liu Tiejun, China's Minister of Railroads, declared that China is going to invest a total of US$1trillion from 2006 to 2010, to construct 17000km of railroads, with some major routes running at speeds of 200-300km per hour.
America Asia Petroleum, with offices in China and USA, is an energy company that presently operates through joint ventures in China.
SunPower to Participate at the Solar Power 2006 Conference in San Jose Wednesday October 11, 8:00 am ET Locally Developed, Highest-Efficiency Solar Technology to Be Featured at Largest Industry Event
SAN JOSE, Calif., Oct. 11 /PRNewswire-FirstCall/ -- SunPower Corporation (Nasdaq: SPWR - News), a Silicon Valley-based manufacturer of the world's highest-efficiency, commercially-available solar cells and solar panels, today announced that it will showcase its high-performance solar cells and panels in booth #430 and make a technical presentation at next week's Solar Power 2006 Conference and Expo. Running October 16-19 at the San Jose McEnery Convention Center, Solar Power 2006 is the solar industry's largest annual business-to-business solar event in the U.S. ADVERTISEMENT
During the event, Dr. Richard Swanson, co-founder and CTO of SunPower Corporation, will participate in a technical plenary session entitled, "Photovoltaics: The Path from Niche to Mainstream Supplier of Clean Energy." The presentation will be made on October 18th at 8:30 a.m. at the convention center's meeting room J.
The Solar Power Conference and Expo is organized by the Solar Electric Power Association (SEPA) and the Solar Energy Industries Association (SEIA). More than 5,000 people are expected to attend the event, with more than 160 company exhibitions and 35 sessions on solar technology, energy policy, and market opportunity.
About SunPower:
SunPower Corporation designs and manufactures high-efficiency silicon solar cells and solar panels based on an all-back contact cell design. SunPower's solar cells and panels generate up to 50 percent more power per unit area than conventional solar technologies and have a uniquely attractive, all-black appearance. For more information on SunPower or solar technology, please visit the SunPower website at http://www.sunpowercorp.com . SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY - News).
NOTE: SunPower is a registered trademark of SunPower Corp. Cypress is a registered trademark of Cypress Semiconductor Corp. All other trademarks are the property of their respective owners.
Ballard Announces Follow-On Supply Agreement With General Hydrogen Corporation Tuesday October 10, 6:15 pm ET
Contract valued at approximately US$22 Million
2,900 Mark 9 SSL'TM' fuel cells to ship in 2007 and 2008
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Oct 10, 2006 -- Ballard Power Systems (TSXLD.TO - News)(NASDAQLDP - News) today announced that it has signed an agreement valued at approximately US$22 Million with General Hydrogen Corporation to supply 2,900 Mark 9 SSL(TM) fuel cells. These fuel cells are for integration into General Hydrogen's products that are being sold to customers converting from conventional lead-acid batteries in their materials handling fleets. Under the agreement, Ballard expects to ship fuel cells ranging in size from 4 to 20 kilowatts, with roughly one-quarter of these units to ship in 2007, and the balance to ship in 2008. ADVERTISEMENT
This year, through September 30, 2006, Ballard has shipped 100 Mark 9 SSL(TM) fuel cells. This agreement reflects the growing confidence of Ballard and General Hydrogen in the potential for fuel cell products in the materials handling equipment market. With this agreement, Ballard has exceeded its publicly stated corporate goal of shipping or booking 300 Mark 9 SSL(TM) units in 2006.
"General Hydrogen is a key leader in commercializing fuel cells in the materials handling equipment market. Our Mark 9 SSL(TM) product has been performing exceptionally well in equipment sold and delivered by General Hydrogen to fuel cell forklift customers. End-users are reporting strong satisfaction with durability and performance," said Noordin Nanji, Ballard's Chief Customer Officer. "This follow-on order from General Hydrogen reflects end-user confidence in our ability to meet market needs in terms of product cost, reliability and supply as this market develops."
Fuel cells offer a compelling value proposition to electric forklift operators, delivering a number of important advantages over a conventional lead-acid battery solution:
- General Hydrogen's Hydricity® Pack provides triple the run time of lead-acid batteries, eliminating battery changing and charging and thereby increasing productivity.
- Warehouse and factory capacity set aside for battery storage and charging is freed up providing more space for a customer's normal business activity.
- Fuel cells provide constant power throughout a shift, unlike lead-acid batteries, resulting in further productivity improvements.
"We are very pleased to continue our supply arrangement with Ballard," said Frank Trotter, General Hydrogen's President and Chief Executive Officer. "Ballard has been very aggressive in driving down its product cost and improving its manufacturing capability. The quality of Ballard's technology remains unmatched. Integration of the Ballard® fuel cell as a key component in General Hydrogen's Hydricity® Pack provides a product solution that meets the requirements for performance, durability and reliability in the very demanding operating environments of today's forklift users. This agreement gives us security of supply with a continued focus on cost reduction that will ensure we can address our customers' needs as this market continues to develop over the next two years."
About Ballard Power Systems
Ballard Power Systems (TSXLD.TO - News)(NASDAQLDP - News) is recognized as a world leader in the design, development and manufacture of zero-emission proton exchange membrane fuel cells. Ballard's mission is to make fuel cells a commercial reality. To learn more about what Ballard is doing with Power to Change the World®, visit http://www.ballard.com.
About General Hydrogen
General Hydrogen Corporation has its headquarters in Richmond, BC, Canada and has sales and service centers in Gallatin, TN and Cincinnati, OH. General Hydrogen has developed and commercialized fuel cell power packs and hydrogen refueling stations for a variety of industrial electric vehicles, including forklifts. General Hydrogen's website is located at http://www.generalhydrogen.com.
This release contains forward-looking statements that are based on the beliefs of Ballard's management and reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate", "project", "believe", "anticipate", "intend", "expect", "plan", "predict", "may", "should", "will", the negative of these words or such other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of Ballard with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements.
Ballard, the Ballard logo, Power to Change the World and Mark 9 SSL are registered trademarks of Ballard Power Systems Inc.
Contact: Contacts: Ballard Power Systems Inc. Michelle Cormack (604) 454-0900
Ballard Power Systems Inc. Rebecca Young (604) 454-0900 (604) 412-4700 (FAX) Website: http://www.ballard.com
American Security Resources Hydra Unit Proposes 20 Fuel Cell Installations for Columbia, SC Fuel Cell Challenge Tuesday October 10, 9:30 am ET
HOUSTON--(BUSINESS WIRE)--American Security Resources Corporation (OTCBB:ARSC - News) today announced that its Hydra Fuel Cell subsidiary has submitted a proposal in response to Columbia, South Carolina's Fuel Cell Challenge http://www.fuelcellchallenge.com. The Greater Columbia Fuel Cell Challenge seeks firms and service providers to partner with the City of Columbia and the University of South Carolina to assist in the design and implementation of a groundbreaking plan involving unprecedented integration of hydrogen fuel cell technology into multiple aspects of the City and the University of South Carolina. ADVERTISEMENT
Hydra proposes fuel cell applications for police, fire and public safety; local government communications; utilities; and academic sporting and entertainment facilities among others.
"The City of Columbia is aggressively promoting the development and use of hydrogen fuel cells and as a member of the University of South Carolina's Fuel Cell Consortium we are pleased to respond to this challenge," said Bob Farr, President and COO of ARSC. "This is an excellent opportunity for our HydraStax(TM) 1000 and HydraStax(TM) 5000 systems to be chosen for use by an innovative municipality," Farr continued. "We expect a response to our proposals this quarter."
The Challenge is managed by a coalition consisting of the City of Columbia, The University of South Carolina, The South Carolina Research Authority and EngenuitySC.
The HydraStax(TM) fuel cell is a proprietary technology developed by ARSC's wholly-owned subsidiary, Hydra Fuel Cell Corp. (www.hydrafuelcell.com), that increases both the efficiency and useful life of electric generating hydrogen fuel cells. The HydraStax(TM) units are designed to be commercially mass produced.
American Security Resources Corporation, "ARSC" is a holding company acquiring and developing technologies that will advance clean energy technology. ARSC, through its Hydra subsidiary, has developed high efficiency, mass producible hydrogen fuel cells.
This news release contains certain "forward looking statements" within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations.
Contact: American Security Resources Corporation Frank Neukomm or Bob Farr 713-465-1001 info@amsrcorp.com
FuelCell Energy Helps Sierra Nevada Harness 'Beer Power' to Reduce its Energy Costs by 25 to 40 Percent Tuesday October 10, 8:30 am ET Fuel Flexibility Enables Internationally Renowned Craft Brewer to Advance Its Sustainable Conservation Goals by Running on Renewable Gas Generated from the Brewing Process Waste
DANBURY, Conn.--(BUSINESS WIRE)--FuelCell Energy, Inc. (Nasdaq:FCEL - News), a leading manufacturer of ultra-clean electric power plants for commercial, industrial and government customers, today announced the upgrade of its 1 megawatt (MW) Direct Fuel Cell® (DFC®) power plant at Sierra Nevada Brewing Co. to use fuel created from a waste by-product of the brewing process. With this enhancement, Sierra Nevada furthers its sustainability and energy efficiency goals, while realizing substantial cost savings by offsetting its purchase of natural gas. ADVERTISEMENT
The brewery's fuel cell power plant, which began running last summer and was dedicated by California Gov. Arnold Schwarzenegger, initially ran on natural gas. To boost the brewery's energy efficiency and ecologically friendly profile, Sierra Nevada founder Ken Grossman sought to convert the ultra-clean fuel cells from operating solely on natural gas to a gas mixture that the brewery produced as a by-product, methane.
Sierra Nevada installed a compressor and filtration system to purify methane gas that is generated during the brewery's water treatment process, and then feed it to the power plant for fuel. As a result, two of the plant's four fuel cell stacks can now operate in dual fuel mode -- using any combination of natural gas and anaerobic digester gas (ADG). As Sierra Nevada increases its production and the amount of methane it generates, it also can operate the other two fuel cells on ADG. Gas produced in the digester reduces the amount of fuel used in the power plant. The system is now capable of producing 250 to 400 kilowatts (kW) of electricity from biogas, reducing the company's fuel costs by 25 to 40 percent. Regardless of the fuel blend used, the high efficiency of DFC power plants require less fuel than conventional power plants, resulting in lower operating costs and an overall reduction in the amount of carbon dioxide emitted into the atmosphere per unit of power output.
The 1 MW power plant, one of three FuelCell Energy megawatt-class sites now running in the state, is classified as an ultra-clean technology under California law and provides virtually 100 percent of Sierra Nevada's base load power requirements. The fuel cells operate in co-generation mode, so their 650 degree thermal output is utilized to create steam that further offsets the natural gas needs of their existing boilers providing an additional reduction in operating costs and increase in system efficiency. The facility was named one of 12 "Top Plants" worldwide by Power Magazine in 2006.
"By converting the DFC plants to operate on ADG, we have further advanced our company's sustainability goals and reduced our energy and waste disposal costs," said Sierra Nevada's Ken Grossman. "The fuel cell power plant provides us with reliable, 24-7 electricity and helps make our energy self-sufficiency a reality."
Sierra Nevada's installation of ultra-clean onsite power generation has also enhanced the company's reputation of being a good neighbor by helping to reduce demand on the local power grid for the production of its award-winning craft beer. The company benefits by ensuring that its critical business operations have access to reliable power and neighbors have access to more power that would otherwise be consumed by the brewery.
"The installation at Sierra Nevada is a great example of the fuel flexibility of our DFC power plants," said Bruce Ludemann, Senior Vice President of Sales and Marketing, FuelCell Energy. "Because fuel cells generate energy by chemical conversion rather than combustion, they can convert virtually any biomass- or hydrocarbon-power source into ultra-clean electricity. Sierra Nevada is reducing its energy costs and eliminating a manufacturing by-product that would otherwise add to its disposal and waste water expenditures."
When the fuel cells generate more power than the brewery requires, Sierra Nevada can send excess electricity back to the grid system and receive credit for a portion of its generation costs. A number of other FuelCell Energy power plant sites use waste-related processes to create renewable fuel for generating their electricity. Kirin Brewery in Japan operates a DFC power plant fueled on digester gas. In August, Gills Onions purchased two DFC units to be fueled with ADG resulting from waste onion peels. The power plant will create ultra-clean energy while lowering disposal costs of this by-product. Approximately half the project cost was offset by federal investment tax credits and accelerated depreciation (both created by the US Energy Act of 2005), as well as funds from the California Self Generation Incentive Program (SGIP).
About FuelCell Energy, Inc.
FuelCell Energy develops and markets ultra-clean power plants that generate electricity with higher efficiency than distributed generation plants of similar size and with virtually no air pollution. Fuel cells produce base load electricity giving commercial and industrial customers greater control over their power generation economics, reliability and emissions. Emerging state, federal and international regulations to reduce harmful greenhouse gas emissions consider fuel cell power plants in the same environmentally friendly category as wind and solar energy sources -- with the added advantages of running 24 hours a day and the capacity to be installed where wind turbines or solar panels often cannot. Headquartered in Danbury, Conn., FuelCell Energy services over 50 power plant sites around the globe that have generated more than 124 million kilowatt hours, and conducts R&D on next-generation fuel cell technologies to meet the world's ever-increasing demand for ultra-clean distributed energy. For more information on the company, its products and its worldwide commercial distribution alliances, please see http://www.fuelcellenergy.com.
Sector Wrap: Ethanol Edges Higher Monday October 9, 4:37 pm ET Pacific Ethanol Announces Completion of First Ethanol Plant, Industry Stocks Move Higher
NEW YORK (AP) -- Shares of ethanol producers rose Monday after one development-stage company announced completion of its first plant, and crude oil prices climbed. Fresno, Calif.-based Pacific Ethanol Inc. on Monday said it completed its first ethanol plant and expects to start operations on Oct. 17. Production at the Madera, Calif., plant should reach a level that would result in 35 million gallons per year by mid-November, the company said.
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Pacific Ethanol said a second plant in Oregon remains on schedule for completion by the end of the second quarter of next year.
The company's stock jumped $1.29, or 10.25 percent, to end at $13.87 on the Nasdaq.
Elsewhere in the sector, shares of ethanol companies closed higher. Andersons Inc. rose $1.57, or 4.7 percent, to close at $34.99 on the Nasdaq. MGP Ingredients Inc. shares added 80 cents, or 3.87 percent, at $21.46, and Verasun Energy Corp. shares rose 80 cents, or 4.98 percent, to $16.85.
Ethanol industry stocks recovered somewhat from a decline Friday following an analyst report suggesting the sector's pricing power was diminishing as gasoline prices retreated and industry competition builds.
Oil prices traded above $60 for much of Monday, then finished just below that threshold. A barrel of light, sweet crude settled up 20 cents at $59.96 on the New York Mercantile Exchange.
Ethanol is used as a cleaner-burning additive to gasoline and as an alternative fuel to power flexible-fuel vehicles.
Pacific Ethanol No Longer An Ethanol Stock Without Any Production Tuesday October 10, 2:41 pm ET
Himanshu Pandya submits: It’s been a while since I have written about Pacific Ethanol (NASDAQ: PEIX - News) but I thought yesterday was an important milestone for the company as it finished construction of its first plant. I used to follow Pacific Ethanol very closely and enjoyed the incredible ride up early this year. During that time I reported on its new plants, interviewed Tom Koehler and also reported on the incredible amount of insider selling at the company. ADVERTISEMENT
The stock went up about 10% on the news yesterday and an additional 6% today so far (2:41 PM EST) after being on a tremendous slide and a recent downgrade. I think opening of the plant marks an important milestone for this company. It is no longer a ethanol stock without any production. Neil Koehler, CEO also stated, “We remain on schedule to develop 220 million gallons of production capacity by the middle of 2008 and 420 million gallons by the end of 2010.”
If you still believe in the whole Ethanol story you might want take a look at Pacific Ethanol at these levels.
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RVB.OB - News), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced it has purchased another property in south Texas, East McFadden Field.
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