Fixing Leaks, Diluted Pacific Ethanol, and "Another Solyndra": The Week In Cleantech: 6-29-2012
June 25: Pure Technologies Expands in the US
Pure Technologies Ltd.
OTC:PPEHF) today announced plans for a major expansion of its
Engineering Services business through the establishment of up to
five new regional offices in the United States. Last year,
Pure was struggling when the Arab Spring stopped work at their
biggest customer, a Libyan water authority, but the company did an
admirable job cutting costs and developing business in other parts
of the world. Work (and payments) from Libya resumed this
spring, and the company's business in North America is growing at a
breakneck pace (40% per annum) as well, as this expansion
Pure has a number of technologies for water pipe inspection and leak detection which can deployed while the pipes are in service. As water and energy become increasingly interlinked, often the best way to save energy is to save water. Pure Technologies delivers an extremely cost-effective way of doing that. Press release.
June 26: Markey amd Napolitano introduce bill to repower dams
Natural Resources Democratic Ranking Member Edward J.
Markey (D-Mass.) and Subcommittee on Water and Power Ranking
Member Grace F. Napolitano (D-Calif.) introduced legislation to
improve the performance of federally-owned and operated
hydroelectric dams across America. The “Hydro 2.0 Act” would
authorize the Bureau of Reclamation to utilize revenues from new
power production at existing sites to upgrade the efficiency of
dozens of dams and improve their environmental performance before
looking to build new dams.
New hydro generation technology allows old turbines at existing
dams to produce more electricity from the same power flow, but
federal ownership and a lack of a budget for new investment has so
far prevented many profitable upgrades from being made. This bill
would unlock the future earnings from new hydropower investments
as a source of funds to make the upgrades. The net result:
federal revenues would increase (even after paying for the debt
required to finance the investments), jobs would be created
retrofitting the dams, and more clean power would be generated at
a net profit to the taxpayer.
The bill explicitly does not authorize the construction of new
June 27: GTM Research Predicts 21 GW of PV Production Capacity to be Retired by 2015
- GTM's new report, PV Technology, Production and Cost Outlook: 2012-2016 looks at the continuing oversupply of the PV market, and expects oversupply to continue, until supply and demand come into balance as cost-cutting, capacity closures, and an expanding market bring them back into balance by 2015. I took a look at the implications for solar stocks.
- Reports about Kandi Technologies (KNDI)
being the only approved provider for the Chinese city of
Hangzhou's 20,000 EV rental program are flooding the Chinese
press. But some shareholders are disappointed because some
reports say it may take up to two years to complete the
roll-out. They seem to be forgetting that Hangzhou is a
pilot program, and Kandi's selection makes it much more likely
that the company will likely play a starring role in China's
much grander EV plans. If China's plans
for 500,000 EVs by 2015 and 2m by 2020 are slow off the mark,
it's because of the high cost of EVs from firms like BYD (BYDDY).
Kandi's $7,500 mini-EVs could change that.
June 28: Pacific Ethanol Diluted
- Pacific Ethanol (PEIX)
prices public offering of 28 million units at $0.43 per unit,
with each unit consisting of 1 share and warrants to purchase an
additional 1 1/2 shares at $.53 and $.63. The highly
dilutive offering caused the stock to drop 40% to $0.31 in
- A bill to reduce the high "value added tax" (VAT) rate on electric vehicles has passed Iceland's Parliament. This bill removes the Value Added Tax (VAT, currently set at 25.5 percent for vehicles), on the first $45,000 of the price of EVs. Electric vehicles like the Nissan Leaf and other smaller cars will be VAT free. More at Autoblog Green.
June 29: Does A.S. Stand for Abound Solar or Another Solyndra?
- Abound Solar announced that it would suspend operations and
seek bankruptcy protection. The company had borrowed about
$70 million against a $400 million US DOE loan guarantee.
Taxpayers will likely lose between $40 million and $60 million,
depending on the price received for Abound's assets, making this
loss about on tenth of that lost with Solyndra, not that the
anti-green PR machine will mention that. More
- Alterra Power (TSX:AXY,OTC:MGMXF)
received an unsolicited offer for its 2/3 stake in the HS Orka
geothermal plant in Iceland. The company does not need the
money, but will consider the proposal. More details
TK: Long PUR, KNDI, AXY