Xantrex announces US $12 million wind converter order from Clipper Windpower for 2006
Xantrex Technology Inc. (XTX.TO) received an order for wind converters valued at $12M from Clipper Windpower Technology Inc. of Carpinteria, CA for delivery in 2006. This order exceeds the framework agreement announced on September 15, 2005 for approximately $10 million over two years. These Xantrex converters will be used in Clipper's new 2.5 megawatt Liberty wind turbine. [ more ]
I spent sometime talking with the people at the Xantrex booth at the recent solar conference and they have a firm commitment to the Alternative energy marketplace. They have also started a concentrated effort to release new products into the marketplace and they are proving it with a steady stream of new press releases. I have been using one of their power inverters for some time in my car to power various electronic devices and the products are high quality and work well.
My main problem with the company is its difficult to purchase shares of the company in the US since they only trade in Toronto. People that I have spoken with at the company state they currently have no plans to move to a US exchange. Xantrex is a company I want to own for a long term hold. The stock is very attractive under the $6 (CDN) level and has some near term support at $5 (CDN). I make all my stock transactions online and a purchase of a foreign stock requires that I would have to call in the purchase order which usually doesn't give you the flexibility to toy with your buy limit orders. This also means the transaction costs are going to be much higher for me. But I do believe owning this company in the future may be worth the inconvenience and extra costs.