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September 09, 2013

Residential Solar in the Ontario microFIT Project: Three Families' Experiences

Michael Smele

bigstock-Solar-cells-on-a-roof-with-sun-24149756.jpg
Solar Home with sunflower photo via Bigstock
The Ontario microFIT program was launched in 2009 as part of Ontario’s provincial government’s efforts to increase the production of renewable energy. The program provides participants with the opportunity to develop a “micro” renewable electricity generation project on their privately owned property that uses solar photovoltaic (PV), wind, waterpower, or bioenergy (biogas, biomass, landfill gas). I have asked three families who navigated the process of microFIT solar installations to share their experience by answering some questions.

Industry has seized the opportunity to capitalize on the revenue generated by the fixed return of twenty year contracts with the government’s power regulator. Individuals have also participated although the hurdle of coming up with thirty to forty thousand for purchase and finding the right service provider for the components and installation has created some unique challenges and opportunities.

The efforts put forth by individual investors in these projects have a story all their own. Those who have had success utilized several methods with varying degrees of difficulty. The questions posed to the three Ontario families who used solar installations to participate in the MicroFIT program were as follows:

1) What attracted you to the Ontario microFIT program?

Family 1: Our initial interest was environmental and quickly turned to see if it there was a reasonable profitability and if the math/projections would prove true.

Family 2: It started years ago with alternative energy awareness. When the MicroFIT program started a friend had participated and our interest was piqued. Then the project itself caught our attention and we became quite excited about the potential.

Family 3: To save the environment – any financial considerations were secondary. If the project were revenue neutral I would have still moved ahead.

2) What was your capital investment for the project? What was your expected payback period of the investment? Did your actual payback period match your expected payback?

Family 1: Thirty Three Thousand however it is notable that the provincial taxes are rebated within the first year. Our expected payback period was five to six years however with the adjusted annualized distributions from the power authority – it will be well below the five year mark.

Family 2: Forty Thousand. The expected payback period is six to seven years. We believe we are on track to meet that timeline.

Family 3: Thirty Three Thousand. From my calculations, the expected payback period is going to be seven years however with the directional placement of the panels and the winter months it may take between seven to eight years to recoup our initial outlay.

3) How did you finance the project?

Family 1: A personal line of credit that carries at a very low interest rate as it is secured against the property on which the MicroFIT project is operating on. The interest charged on the capital that was borrowed to invest is a tax write off as well.

Family 2: We cashed in some non-registered liquid assets to finance our project.

Family 3: We secured a home equity line of credit.

4) Are there any cautions to be made aware of or advice/tips to make the process smoother?

Family 1: In hindsight – the greatest concern would be to make sure you are comfortable with the service provider whether a full service company that provides the components and installation or otherwise. Another tip would be to ensure if you are completing a rooftop installation – that you consider the quality and duration of the roofing that will lie under the panels as the cost to replace doubles with a remounting of the system already installed.

Family 2: My best advice is to beware of the misinformation that is being shared. I have heard some tall tales from not being able to get insurance on your home to the fire department not being able to service the home in an emergency. Doing your own homework and getting a lot of questions answered will make the process much smoother.

Family 3: I would have to say that involvement in every aspect of the project is key. Work with your service provider/installer to ensure that they are completing the work to your satisfaction. Also, gathering as much information as possible beforehand was very helpful so as to understand what will happen once you commit to your project.

5) Would you suggest this method to others looking at this avenue and why?

Family 1: Yes, I am an advocate and have suggested the program to neighbor and family. The benefits are many fold from gaining a positive revenue stream, the tax write offs, to getting paid as an energy producer. I like to think of it like have the income of a tenant that doesn’t exist.

Family 2: Absolutely, this is a great investment in your home, your future, and your finances.

Family 3: Yes, we have a responsibility to those who will come after us to ensure that there is a healthy environment and everyone should be doing their part to help out.

Conclusion

As the Ontario MicroFIT program evolves over time, what will remain the same is that there are those who are committed to making a contribution to the future health of the planet by becoming part of the answer to our energy needs. From profitability to being a good steward of the planet – these families have clearly shown that there are many great reasons to investigate and participate in initiatives that will lead to a better future for everyone.

Michael Smele is an Ontario resident who provides finance and mortgage options for those looking to participate in the MicroFIT program. You can find him at Mortgage Truth.

August 08, 2012

There are Always Buyers

There are Always Buyers – even for Clean-tech deals. An Update from the Street.

In the movie Wall Street, Michael Douglas plays a greedy, ruthless banker who hangs everyone out to dry in order to win. His motto is “greed is good”. Well, his character’s antics have turned out to be more reality than fiction as we uncover more real life blunders of Wall Street bankers. What does this have to do with our current markets? Everything, really. Since 2008, only select stocks have performed well in the overall market and the clean tech sector has been obliterated. It seems the big banks have been playing roulette with client money every chance they get. This has affected investor confidence and is reflected in lower stock prices and trading volumes across the board. Added onto world economic woes, fear and doubt have been instilled into the markets.

While many may be saying this is not the time to get into the markets others, like Warren Buffett are licking their chops. They see opportunities everywhere and at bargain prices compared to just a few years ago. Where does an investor like Warren Buffett get his confidence to buy when everyone else is stuffing their mattresses? From what I have read, he believes in market cycles and through his experience believes that the markets will recover and still be the best place to put his money for the long term.

Before you get too depressed, think about this. Because of the greed factor, many Wall Street types have historically created all kinds of products to make money in the stock market, such as, Mutual Funds, Junk Bonds, Derivatives, and ETF’s just to name a few. All of these are products that were “invented” by some Wall Street guru or mathematician who figured out a new way to make money in the market. Trust me, they will think of something else to get money to come back to the market and it will turn around again. Eventually, investors will pour back in and look for new ways to invest because they want to make big bucks too. They want a return on their investment not just cash under the mattress. It is just a matter of time.

So how does a new venture find the capital it needs, and how do existing companies find investors to move their stock prices up? The answer is complicated. “Show me the Money” – another famous movie quote rings true today – finding those pockets of money is harder than ever before. But not impossible. Here is what we are hearing: Best sources of funding are now from private equity groups, family offices, and corporations with innovation funds looking for smaller companies to invest in. Keep your rolodex fresh with all your contacts and utilize them all when looking for capital. Money is much harder to come by these days for junior and start-up companies, but for the right venture, the money will come forward eventually if you are persistent and on top of your game.

To learn more about investment ideas and companies, check out our upcoming program, the Modern Energy Forum, September 5-7, in Denver Colorado. For more details on how you can succeed in these markets, contact michele@minellc.com.

The preceeding post is a Special Information Supplement by our Featured Company MiNELLC.

August 01, 2012

2012 Modern Energy Forum





We are happy to have The Modern Energy Forum as an advertiser on AltEnergyStocks.com once again. The 2012 Modern Energy Conference will be held in Denver from September 5 to September 7, 2012. Details of the the conference will be posted on AltEnergyStocks.com soon - for now, we encourage you to visit their site and have a look.

August 02, 2011

Modern Energy Forum: Denver, CO – Sep. 13-15, 2011

The fifth annual Modern Energy Forum is the premier conference in 2011 for investors who want to have one-on-one conversations with some of the brightest stars and leading investors and experts in emerging clean tech companies. Please consider this your invitation to attend.

Some of this year’s highlights include:

  • Keynote speaker Dick Rutan, on the 25th anniversary of his pioneering Voyager non-stop flight around the world.
  • Test drives for registered attendees of a Tesla roadster on the streets of downtown Denver.
  • Experts and investors will share wisdoms about batteries, electric vehicles, PV, wind, water, nuclear, biomass, biofuels, geothermal, and energy.

The Modern Energy Forum is a private, exclusive event that showcases premier modern energy companies presenting their stories to an elite list of institutional, private and buy-side investors and customers. We take the time to match all attendees for private one-on-one meetings that are pre-arranged to optimize the conference experience and create a foundation for continuing successful business relationships. If your company is interesting at presenting at the conference, please visit this link.

For 25 years, we have specialized in putting investors and businesses together in a comfortable, personalized atmosphere. Attendees keep coming back year after year because of these three reasons:

1. We accept only the most qualified companies that meet certain criteria designed to make them attractive to investors.
2. We maintain a pre-specified ratio of investors to businesses, which allows investors to spend their time getting to know executives from good companies.
3. We make time for 1:1 meetings.

For more information on this year’s conference, or to register to attend, please visit our website or contact Alexis Bogart at 303-377-6463 or alexis@minellc.com.

Michele Ashby
CEO, MiNE LLC

The preceding post is a Special Information Supplement by our Featured Company MiNELLC.

March 27, 2011

An Elephant Hunter's Thesis for Axion Power

John Petersen

Last Friday I breathed a sigh of relief as my core position in Axion Power International (AXPW.OB) regained the price level it established in the first quarter of 2010. The last 12 months have been a stockholder's worst nightmare as supply and demand dynamics pushed Axion's stock price down into the $0.50 range and kept it there. Since it looks like new buyers have finally eaten their way through the excess supply, now seems like an opportune time to unwrap my crystal ball and lay out an elephant hunter's thesis for Axion's stock price outlook over the next few months.

Axion went public through a reverse merger in December 2003. Like many reverse merger companies, its market was illiquid in the early years and the stock traded by appointment. The following table summarizes the reported annual trading volume during Axion's first seven years as a public company. It shows the total reported volume for each year and the percentage derived by dividing the reported volume by the fully diluted common shares outstanding at year-end.

Year
Shares Traded
Percentage
2004
243,255 1.8%
2005
325,882 1.9%
2006
1,092,755 4.6%
2007
835,030 3.3%
2008
1,888,865 5.4%
2009
7,176,200 8.5%
2010
22,015,900
25.8%

So far this year, Axion's cumulative trading volume is 18.4 million shares. That means 2011 is likely to be the first time in its history that annual trading volume will exceed 50% of the issued and outstanding shares, a level of activity that most investment professionals believe is required for a healthy liquid market.

In December 2009 Axion closed a $26 million private placement that is properly classified as a venture capital investment in public equity, or VIPE, transaction. Four purchasers including Blackrock, the Special Situations Funds, Manatuck Hill Partners and one individual, bought 31.4 million shares in blocks of 7.2 to 8.8 million shares each. In addition, 47 small funds and individuals bought 14.4 million shares in smaller blocks. The offering was priced at $0.57 per share and the 45.7 million shares that were sold in the offering represented about 55% of the company.

In a September 2010 study of 1,655 VIPE transactions between 1995 and 2008, the authors reported that VIPE investors typically buy at a 47% discount to market, which meshes well with my experience that large private placements are typically priced at a 50% discount to market. The reasons for the deep discount are obvious. In a market transaction, an investor will buy a few hundred to a few thousand shares with the expectation that he can change his mind, liquidate and move on whenever he feels like it. In a VIPE transaction, an investor cannot have any reasonable liquidity expectations for months or even years. In cases where several large investors participate in a VIPE transaction, the liquidity assessment is performed at the transaction level, rather than the investor level. In cases where there's a big gap between historical trading volumes and the size of the VIPE transaction, the discount will usually be more than 50% to offset the liquidity deficiencies.

If one assumes that 50% was a proper discount for Axion's VIPE transaction where the investors bought shares that represented six and one-half years of historical trading volume, the transaction should have put a $1.15 baseline trading value on Axion's stock. If one assumes that a 60% discount would be more appropriate in light of the liquidity deficiencies, a baseline trading value of $1.50 per share would have been more reasonable. Those two numbers bracket the range – $1.15 on the low end and $1.50 on the high end – that I believed Axion's stock would trade in when I wrote a December 2009 article titled "Why I'm Thrilled by Axion's Financing Transaction."

While I believed in December 2009 that Axion's stock price would stabilize in the $1.15 to $1.50 range, and it did exactly that during the first quarter of 2010, liquidations that were unrelated to business fundamentals began in the second quarter and continued into the summer. As a result, the price was beaten down to an all time low of $0.46 before stabilizing in the $0.60 range by year-end. Since then, the stock price has doubled.

3.27.11 AXPW Chart.png

I've always believed the plateau from February through April 2010 represented fair value and the slump that began in late April was based on supply and demand dynamics instead of business fundamentals. While Axion's stock price was swooning, the following key corporate and regulatory events were unfolding.

March 30, 2010 Annual Earnings Release
April 1, 2010 The EPA and NHTSA adopt new CAFE standards for cars and light trucks
May 5, 2010 Announced upgrade to first generation electrode line and plans for second generation line
May 18, 2010 Announced presentation at 2010 Advanced Automotive Battery Conference & Symposia
June 9, 2010 Announced development program with Norfolk Southern Railroad
September 20, 2010 Announced joint technical presentation with BMW at the European Lead Battery Conference
February 14, 2011 Announced foundation patent on PbC electrode assembly
March 8, 2011 Announced order for $3.5 to $8 million of flooded batteries
March 8, 2011 Confirmed first quarter commissioning of second generation electrode line

A couple of these events were nothing short of extraordinary.

Many small companies in the battery and power electronics space decide to develop their own battery management system expertise, but I'm not aware of another situation where a transportation giant like Norfolk Southern hired a micro-cap company like Axion to develop a battery management system as the first step in a project geared toward the potential retrofit of a portion of its diesel electric locomotive fleet to hybrid diesel electrics.

Many small companies in the battery space are engaged in development projects with automakers, but the identities of the automakers are closely guarded secrets until the automakers announce a production decision. Several recent reports that other battery manufacturers have won production contracts from automakers but declined to publicly identify their customers are prime examples of the normal course of business. I've spent several months searching for a comparable example of a joint technical presentation by an automaker and a battery developer at a major industry conference. So far my effort has been unsuccessful.

Axion was not dealing with a normal market in 2010 and is just now getting back to the baseline trading value it established in the first quarter of 2010. While it's hard to say what the 2010 developments would have been worth in the in the context of a more normal trading market, I think most people who invest in small company stocks would have expected at least a double from the Norfolk Southern and BMW relationships and perhaps a good deal more.

I don't know what the fair value of Axion's stock is or where the price will go from here. However my experience with small companies in the valley of death has taught me that over the long-term market prices tend to oscillate around a fair value line, but only touch fair value as they transition from one extreme to the other. In cases where the market price has been undervalued for an extended period of time, the next stage is a roughly equivalent overvaluation for a similar period of time. If you want to assume that $2.40 would have been a reasonable fair value in December 2010, you can pretty well count on an eventual peak in the $4.20 range. If you believe $2.40 would have been low in a normal market then your outlook for the next peak should probably be higher.

Over the last year I've been frank in expressing my opinion that Axion was undervalued. As long as the market price was within spitting distance of the price paid in the 2009 VIPE transaction, it was easy to take that position. Now that Axion's market price has returned to a level that represents reasonable parity with the 2009 VIPE pricing, we should begin to see how the market values the events that have transpired over the last year. Axion's year-end earning call is scheduled for Thursday of this week and I'm hoping management will add color to their recent disclosures and better explain their outlook for the coming year.

I wrote this article because several readers have asked me what my expectations are for Axion's future stock price. While I don't usually make price predictions, I thought a detailed explanation of my opinions and outlook would be more valuable than stony silence. I will probably be more restrained in my future discussions of Axion's market price, but the elephant hunter in me thinks the fun is just beginning.

Disclosure: Author is a former director of Axion Power International (AXPW.OB) and holds a subtantial long position in its common stock.

November 19, 2010

Introducing EV Insights: In-Depth Analysis of Challenges and Opportunities in Vehicle Electrification

John Petersen

After months of planning, I'm pleased to announce the launch of EV Insights, an Internet site dedicated to in-depth analysis of the challenges and opportunities in vehicle electrification and other cleantech sectors. My partners in this project are Jack Lifton, a highly regarded expert in the fields of rare earth metals, mining and extractive industries, and Dr. Gareth Hatch, a thought leader in the field of permanent magnet materials, components and their end uses in motors and power generation systems.

In coming months we will offer a series of wide-ranging and probing interviews, conversations and debates with experts, industry professionals and executives from a variety of industrial sectors and companies that will play key roles in vehicle electrification and other emerging cleantech sectors. Our goal is to go beyond happy-talk headlines and advocacy and drill down into the more difficult issues of supply chains, technical maturity, sustainability and end-user value. We hope our discussions will give serious investors an edge by increasing their understanding of how these issues will shape and ultimately dominate the sixth industrial revolution, the age of cleantech.

We don't know all the answers, but we have a pretty good feel for the important questions. We hope to learn by listening to people who know more than we do and asking hard questions that never make it into press releases, company presentations and the mainstream media. We're certain that our conversations will have more balanced, informative and probing content than we could ever squeeze into a blog.

Our kickoff conversation is one Jack and I recorded in October that discusses the challenges and opportunities in the battery sector. The recording and transcript are available without charge to visitors who are willing to part with their name and e-mail address.

EV Insights may eventually become a subscription service if initial user feedback is positive, but for now it's just an experiment. We truly hope you'll volunteer as a lab rat by visiting us at www.evinsights.com and taking our first conversation on the battery sector for spin around the block.

July 11, 2010

Modern Energy Investor Forum: Denver, CO – Sep. 22-25

In more than 20 years of brokering relationships between investors and the natural resources industry, I’ve never had as many investors tell me in the last year that they’re having a difficult time identifying and engaging with high-quality companies in clean technology.

Why is this? Some complain that the industry is too new and unsettled to differentiate between top-grade businesses and pretenders. Others have told me that too few companies have strong business plans and can account for the uncertainty in the markets or in federal legislation. They go to conferences and are inundated with pitches from companies that may or not be real players.

In response, I tell them that the Modern Energy Investor Forum, held in Denver from Sep. 22-25, is designed to address their concerns.

The Modern Energy Investor Forum is guided by a 1:1 philosophy. For 25 years, we have specialized in putting investors and businesses together in a comfortable, personalized atmosphere. We go beyond prescreening businesses and investors – we work with attendees to identify the types of investors or companies they want to meet, and then facilitate 1:1 conversations to the benefit of both parties. Specifically, this means that:

1. We accept only the most qualified companies that meet certain criteria designed to make them attractive to investors.
2. We maintain a pre-specified ratio of investors to businesses, which allows investors to spend their time getting to know executives from good companies.
3. We make time for 1:1 meetings.

To qualify for attendance, click here. To view the invitation for the conference, click here.

This year’s conference will feature:

  • Presentations from some of the highest-potential modern energy companies in the world.
  • Engaging, informative panel discussions, including on the topic of “Green Economics and the 21st Century Challenge.”
  • Sessions dedicated to:
    • Power Generation: Base Load and Renewables
    • Power Management: Smart Grid and Infrastructure
    • Transportation and Fuels
  • Keynote speakers including:
    • Jigar Shah, CEO, Carbon War Room
    • Richard Ashby, CFO and Treasurer, RES Americas
    • Robert Glennon, Author, Unquenchable
    • Robert Dixon, Leader, Climate and Chemical Investments, The World Bank Group

For more information on this year’s conference, or to register to attend, please visit the Meetings International Natural Resources Enterprise Website or contact Alexis Bogart at 303-377-6463 or alexis@minellc.com.


Michele Ashby
CEO, MiNE LLC

The preceding post is a Special Information Supplement by our Featured Company MiNELLC.

June 15, 2010

Join Me at the MoneyShow San Francisco

Tom Konrad CFA

On August 19th, I'll be moderating a panel Sustainable Investing for Solid Returns at the MoneyShow in San Francisco.  Registration is free, so if you are in San Francisco I encourage you to attend, and not just my panel.  If you do attend my panel, be sure to stick around and say "hi" afterward, or look for me at one of the other many panels that weekend having to do with clean energy.  Here are the ones I expect to attend:

Date
Time
Title
Speaker
Thurs., Aug. 19 10:10 am-10:45 am
Greening Your Portfolio: New Opportunities for the Savvy Investor Susan Preston
1:30 pm - 3:10 pm
Sustainable Investing for Solid Returns My panel
Thurs., Aug. 19, 3:20 pm-4:05 pm
Who Is Driving the CTIUS: Accelerator or Brakes? Jackie Ann Patterson
Fri., Aug. 20 10:40 am - 11:25 am
Cleantech Investing: A Global Perspective Paul Dravis
2:10 pm - 2:55 pm
The Right Tech Companies That Fix the World's Biggest Threats While Actually Paying Their Investors Neil George
6:00 pm-6:45 pm
How to Profit from Global Greentech Nancy Zambell
How to Trade Greentech Stocks Jeff Cianci
August 21, 2010 8:00 am-8:45 am
GreenTech Opportunities--How to Profit from Innovations in Green Technology Peter Cox

Most trade shows I go to are for Renewable Energy and Cleantech shows, as opposed to investing shows, it will be interesting to hear and chat with these experts who mostly approach Clean energy from an investing perspective. 

When I began writing about investing in Clean Energy in 2006, there simply weren't many other analysts who "got it."  Over the last two to three years, that has changed, and it's very stimulating to interact with bright minds bent on fixing the world's problems while growing our portfolios at the same time.

So I hope you'll join me at The MoneyShow San Francisco.  When I attended the 2003 MoneyShow San Francisco, I found much to interest me, even though no one was talking about Clean Energy.  There's a lot going on in other tracks as well, so check out the complete Show details, learn how to attend, and register FREE online, or call 800/970-4355 and mention priority code 019042.

March 11, 2009

Casey Energy Opportunities: Review

I was a subscriber to Doug Casey's International Speculator from 2004 to 2006, and I consider his research into the junior mining sector the best I've come across, although his libertarian political views are usually at odds with my own.  

Last month, Casey Research invited AltEnergyStocks.com to join their affiliate program, meaning that we would earn referral fees if our readers subscribed to their newsletters using the links on our site.  Like most people, I like getting paid, but my integrity is also important to me, so I wasn't comfortable writing an article simply hyping their products.  Instead, I hit on the idea of writing a review, much like I reviewed the International Speculator in 2007 (for no compensation at the time.)

With a focus on energy stocks, Casey Energy Opportunities seemed most likely to interest our readers.

Casey Energy Opportunities (CEO)

The CEO format was familiar from my days as a Speculator subscriber. It begins with an in-depth look at a sector, such as Energy Income Trusts in the February issue.  Charles took a look at Clean Energy Income Trusts, while I highlighted the Algonquin Power Income Fund (AGQNF.PK) in January.  While we bring you short articles focusing only on clean energy, CEO goes into much more depth, comparing the available funds based on a number of important factors related to the companies financial strength and upside potential.  Using these factors, they ferret out two stocks to recommend, one low and one high risk, and then take a detailed look at each, using Doug's signature Eight P's framework for evaluating resource stocks.

Of particular interest to AltEnergyStocks readers will be their recent looks at hydropower stocks (they found two run-of-river hydropower companies I didn't know about,) as well as a look at Geothermal stocks.  Investors concerned about Peak Oil will find even more opportunities, all demonstrating the depth of research necessary when looking at risky resource companies.  

These in-depth looks are accompanied by excellent background articles explaining how the technology and companies operate in a sector.  The geothermal issue, for instance, not only looked at geothermal power production, but also the emerging technology of enhanced geothermal systems (EGS), (a technology I consider comparable to and much more promising than "Clean Coal") and Geothermal heat pumps, as well as describing the difference between dry steam, flash steam, and binary cycle geothermal generation. 

CEO also publishes a quarterly update on all the stocks they've covered.  In the current market, this will be particularly interesting to new subscribers, since many of CEO's old picks will have fallen (and hence have more upside potential) since they were first recommended.

The Bottom Line

At $49 a quarter, or $179 a year, CEO potential subscribers should consider how much the access to Casey Research can benefit them.  Although CEO does highlight relatively safe plays in their in-depth looks at particular sectors, these picks won't come much of a surprise to people who spend a couple hours researching those sectors on their own.  

On the other hand, I feel CEO is very valuable for picking small, off-the-beaten path junior resource stocks.  It's not uncommon for these stocks to triple in a year, but many of them also go nowhere or fall rapidly as well, and declines in commodity prices or the availability of financing will hurt these companies worse than the market as a whole.  I would only invest in such stocks with a relatively small slice of my portfolio.  If you are ready to commit $10,000 or more to such stocks, a year's subscription should easily pay for itself.  If you don't have $10,000 ready to invest, you can take advantage of the 3 month free trial by canceling your subscription within 90 days.

These subscription plans are available here.

Tom Konrad, Ph.D.

DISCLOSURE: AltEnergyStocks.com receives a referral fee for paid subscriptions bought through the links above (although we don't get anything if you cancel your subscription during the trial period.)  Such referral fees help us continue providing the services you value.

September 22, 2008

2nd Annual Tidal Energy Summit 08

The following is a Special Information Supplement by our Featured Company Tidal Today.

Secure the partners, permits & investment you need to propel your Tidal business forward...

Tidal energy is being deployed - supply electricity to the grid and growing in significance as a key renewable supplier for the future.

Join 150+ tidal professionals at the 2nd Annual Tidal Energy Summit to find out how to secure the partners, permits and investments to capitalise on the future growth in tidal energy.

Click here to download the Summit brochure with full agenda and fantastic speaker line up

Expert Speakers:
This event is your unique opportunity to hear from top-level Tidal pioneers and experts including:

Trevor Raggett, Deputy Director Bioenergy and Marine Energy Technologies, BERR
Peter Fraenkel, Technical Director, Marine Current Turbines Ltd
Mat Thomson, Head of Tidal Energy, Garrad Hassan Marine Renewables Group
Grant Bourhill, Director - Programme Delivery, ETI
Ivo Spreeuwenberg, Strategy Review, National Grid

And many more! View the latest speaker line up at: http://www.tidaltoday.com/tidal08/programme1.shtml

Totally Tidal Agenda!
The agenda will outline how to overcome existing challenges in the Tidal industry to help move forward commercial deployment in the real world:

Global Opportunities: Get insight into global incentives, investments, installments and potential – Understand where to deploy your device for the best commercial prospects
Perfect Partnerships: Find out how to secure your supply chain and collaborate with commercial partners
Regulation & Legislation: Discuss, debate and decide how to streamline the licence and permit consent process
Financial Funding: Get the lowdown on how to successfully apply for public and private investments and incentives
Grid Connection: Evaluate strategies, technologies and investments to connect Tidal energy to the grid
Developer Progress Update: Patent pragmatism, IPR, modular designs and access to incentives. Be the first in line to see the latest Tidal device developments at our technology showcase

PLUS! Exclusive case study on first fully connected Tidal device to the grid. You will not find practical, solid advice this good at any other event.

Click here to download the Summit brochure with full agenda and fantastic speaker line up

Brand New Interactive Format!
Shared knowledge and strategies of industry peers will help overcome exisiting Tidal challenges.

That's why we created the world's first Tidal Working Group Discussions - giving you hands-on, direct involvement in shaping the summit and the future of Tidal energy.

3 Vital areas that drastically need industry wide co-operation and solutions:

1.Supply chain partnership security
2.Successful permit approval
3.How to satisfy the nervous investor

We'll feedback the summit ideas and strategies to all summit attendees and help to move the industry forward. You simply cannot miss out on the opportunity to shape your industry!

Outstanding Networking for You!
Meet, engage and do business with more Tidal experts in 48 hours that your average year of networking! More networking time, dedicated to you including:

25+ Tidal Developers ALREADY GUARANTEED to attend, network and do business with you
Engage with 300+ people
Focused Exhitbion area - Co-located with the Wind Operations and Maintenance Summit
Over 12 hours of dedicated, structured and informal networking time
Networking coctail reception
Interactive Working Group Discussions
Industry leading case studies
Vibrant Feedback Summit wide sessions

Click here to view the latest list of attendees for you to network with at the event

For more information view the website here: www.tidaltoday.com/tidal08


Sign up for your ticket today and save £200! Quote DISCOUNT CODE: TidalAES
What's the price?

Quick Links
Event Site Download the brochure More info See who you'll meet

August 19, 2008

Three Years After Katrina and Rita, New Orleans’ Grassroots Effort Brightens Environment, Community

The following is a Special Information Supplement by our Featured Company Green Light New Orleans.

Fundamental Concerns of Some Local Residents Addressed by Non-Profit

New Orleans, Louisiana - Green Light New Orleans, an energy efficiency program, is still helping to rebuild New Orleans. Equal parts environmental and social aid, the non-profit's solution to mitigate carbon emissions while helping low-income residents has demonstrated once again that simple ideas can result in remarkable impact. Green Light New Orleans sends volunteers to area homes to install free compact fluorescent light bulbs, educate homeowners on the energy saving and environmental advantages of CFLs, and discuss the importance of recycling used bulbs and take other energy efficient measures in their homes.

Executive Director and Founder, Andreas Hoffmann, started the program in response to the 2005 storm. A Swiss-born roots rock musician, Hoffmann’s idea began in his own home, expanded to his band’s tour, and has since become one of New Orleans’ most effective energy-efficiency programs.

“After Katrina I had to do something to help the city of New Orleans and it had to be connected to the cause of the storm: global climate change. When I returned to New Orleans I changed the light bulbs in my home and after experiencing the reduction on my energy bill first hand, I decided to use CFLs as a means to offset the tour pollution of my band. After we installed a few thousand CFLs to meet the tour goal, I quickly realized that there was a need for this kind of energy efficiency program, and founded Green Light New Orleans in October 2006,” said Hoffmann.

The simple premise has net unmistakable results. In two years, the organization has installed 120,000 CFL light bulbs in New Orleans, enough to offset nearly 60 million pounds of carbon. The estimated 5 to 8 year savings is approximately $5.5 million for the city's residents; an average household will save about $1400 in energy costs during the period. What's more, Green Light New Orleans’ growth has been monumental. Over 3,000 households are currently on the organization's waiting list for installation. This means that the organization currently has as many households waiting for immediate installation as it has completed throughout its entire history. The installation is free of charge to every resident.

Perhaps what makes Green Light New Orleans most effective is its unique organization. Led by Hoffmann, three staff members organize packs of volunteers that descend on the non-profit's base every week. Operating out of a brightly painted, shotgun-style row house close to Tulane University, Green Light New Orleans plans and prepares seemingly impossible logistics as routine: small windows of time in which residents will be home to receive volunteers; the appropriate quantity, size, and wattage of light bulb for each household; directions; maps; confirmations; names; and safety assessments. The three staff train and pair teams of volunteers with households while teaching them about the environmental and economic impact of the program.

To date, over 1,600 volunteers have worked with Green Light New Orleans. Many volunteers are attracted to the program because of its unique combination of environmental and social agendas. The intimacy of working directly with homeowners – most affected in one way or another by the hurricanes – coupled with the opportunity to discuss climate change and energy costs with the immediacy of offering a solution is powerful.

“The people we met and helped out were amazing. They were so friendly and excited about what was going on that it made it very enjoyable and worthwhile to change their light bulbs. Today we got to make a difference for people economically and environmentally. That alone is spectacular,” said a volunteer from Succasunna, New Jersey.

Green Light New Orleans receives thirty or more applications for the program each day. Residents not only save money on their energy bills, but they also realize that there are several simple steps that can be taken to reduce energy usage and mitigate global warming. In a follow up survey conducted in June 2008, 57% of Green Light New Orleans program participants reported that Green Light’s service encouraged them to take other energy efficiency measures and almost all of the participants claimed that they are prepared to purchase CFLs when their current ones burn out.

“I am elderly and just got back into my home after hurricane Katrina. I am on a fixed income and I would really appreciate all the help that your organization can give with energy efficient light bulbs and in return it would lower my light bill,” described one resident in her application to Green Light New Orleans.

About one-third of the funding for Green Light New Orleans is through a carbon trading agreement with EcoSecurities, the largest carbon trader in the United States. Green Light New Orleans sells the carbon reduction generated by installing CFLs to EcoSecurities in order to offset pollution in other areas of the world. The rest of the program is funded by corporate sponsors such as Entergy New Orleans and Coca-Cola, as well as private donations.

“We support Green Light New Orleans in their efforts to mitigate climate change at a grassroots, community level,” said James Heath, Head of U.S. Origination for EcoSecurities. “Citizens of New Orleans have experienced firsthand the effects of climate change and it is important to incorporate forward-thinking, energy efficiency measures in the rebuilding efforts. We are excited to be part of this partnership, and hope it will serve as a model for future projects.”

The model for Green Light New Orleans has proven such a success that it has begun to expand to other communities. Hoffmann estimates that Green Light New Orleans will install over 3 million CFL light bulbs over the next 5 years. Should that goal be met, Hoffmann's simple idea of changing light bulbs will result in the reduction of a whopping one billion 422 million pounds (1,422,000,000) of carbon from the earth's atmosphere.


About Green Light New Orleans:

By helping households make the switch from incandescent light bulbs to energy efficient CFLs, Green Light New Orleans helps residents reduce their household energy consumption, save money on their energy bills, and encourages individuals to rebuild in a more affordable and environmentally conscious way. Green Light New Orleans focuses on changing awareness as they change bulbs, planting a seed that teaches participants that small changes can make a difference in combating the effects of global warming and rebuilding in a more efficient and sustainable manner.

For more information please contact executive director Andreas Hoffmann or Lauren Tucker at 504.324.2429 or andreashoffmann@greenlightneworleans.org


WWW.GREENLIGHTNEWORLEANS.ORG

August 13, 2008

CSP & CPV INVESTMENT AND FINANCE SUMMIT USA

The following is a Special Information Supplement by our Featured Company sponsor CSP Today.

Secure the Investment & Financing Your CSP/CPV Projects Need For Commercial Success

If you're serious about doing business in the Concentrated Solar Power market (set to be worth over $200bn!) and need to meet and hear from the leading Investment & Finance players in the industry such as Khosla Ventures, Abengoa Solar, Google, BP Alternative Energy, HSH Nordbank, Ausra and many more.. (http://www.csptoday.com/usafinance)

Then you need to join the 150+ delegates who are attending the CSP & CPV Investment and Finance Summit USA, taking place October 2-3 in San Francisco.

Click here to download the Summit brochure with full agenda and fantastic speaker line up

Expert Speakers

This event is your chance to meet and learn from the global Investment & Finance leaders in CSP & CPV including:

Vinod Khosla, Founder & CEO, Khosla Ventures
Issam Dairanieh, Venturing Team, BP Alternative Energy
Edward Levin, Vice President, Morgan Stanley
Geoff Sharples, Business Development, Google
Ty Jagerson, VP Corporate Development, Solfocus
Asier Aya, Financial Director, Abengoa Solar

And many more! Click on the link for a full list of our fantastic speaker line up http://www.csptoday.com/usafinance/speakers.shtml

Hard Hitting Agenda!

This Summit will be addressing the most challenging issues surrounding Investment & Financing for CPV projects.

Some of the core challenges we will be addressing will be:

  • Understanding Project Finance: Discover exactly what the banks want to hear when you apply for project finance - strategies that work
  • Securing Venture Capital: How to find and obtain venture capital funding for your projects
  • Angel and Early Round Investment: Key steps to attract angel capital and the partnerships you need to accelerate your corporate growth
  • I & F Success Stories: Hear first hand from a selection of CSP & CPV companies who have secured investment for their projects
  • Risk Management & Due Diligence: Steps you can take to give your project a big advantage over the competition
  • Tax Equity: Understand the predominant growth in the demand for tax equity driven by federal support and renewable portfolios, and how your project can be financed through Tax Equity

Click here to request the Summit brochure with full agenda and fantastic speaker line up

Fantastic Networking Opportunities!

Connect with more experts and financiers in 48 hours than you could hope to meet if you devoted the entire year to networking. Just some of the fantastic networking opportunities include

  • The opportunity to meet 150+ people,
  • Focused Exhibition area
  • Over 12 hours of dedicated networking time
  • Networking cocktail party
  • Breakfast meetings
  • Speed networking
  • Interactive roundtables
  • Leading case studies
  • Vibrant panel debates
For more information please click here.

Don't forget to sign up before August 10th to save $500

What's the price?

Quicklinks

Event Site | Download the brochure | More info | See who came to past events

July 16, 2008

The Dawn of the Alternative Energy Age Report

The following is a Special Information Supplement by our Featured Company sponsor Guinness Atkinson Funds.

Excerpt from The Dawn of the Alternative Energy Age Report:

Written by Guinness Atkinson Alternative Energy Fund Managers

“In the 20th century, mankind's massive material and financial progress were only made possible by the exploitation of oil. Oil was a main force in global geopolitics and the driving force behind unprecedented industrialization. Oil has been such a powerful lynch pin that it is hard to believe that its days of prominence may be waning. But as demand for oil steadily increases and reserves are consumed, oil is in the autumn of its life. In its place will increasingly emerge an array of alternative— non-fossil-fuel —energy technologies, both high tech and old tech. This is the dawn of the alternative energy age...”

Click here to access the entire report (PDF)

The information provided herein represents the opinion of Guinness Atkinson Alternative Energy Fund Managers and is not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing.

Click here for a current prospectus.

The Fund invests in foreign securities which will involve political, economic and currency risks, greater volatility and differences in accounting methods. The Fund is non-diversified meaning its assets may be concentrated in fewer individual holdings than diversified funds. Therefore, the Fund is more exposed to individual stock volatility than diversified funds. The Fund also invests in smaller companies, which will involve additional risks such as limited liquidity and greater volatility.

Distributed by Quasar Distributors, LLC, (07/08).


May 27, 2008

Keewatin Windpower Proceeds with Acquisition of Sky Harvest Windpower

The following is a Special Information Supplement by our Featured Company sponsor Sky Harvest Windpower Corporation

In connection with its proposed acquisition of Sky Harvest Windpower Corp., Keewatin is pleased to announce that it has engaged Stirling Mercantile Corporation to prepare a fairness opinion concerning the transaction. Sky Harvest holds the land rights to develop a wind power project on approximately 8,500 acres of land located in southwestern Saskatchewan. The company has completed wind resource assessments on the property and is proposing the construction of a 150 megawatt facility.

Keewatin’s Board of Directors anticipates that the fairness opinion will support the terms of the proposed acquisition whereby it will issue 1.5 shares of its common stock for each currently issued share of Sky Harvest, representing an aggregate of 17,343,516 shares. The advanced stage of the Sky Harvest project was considered in management’s valuation. Both companies are prepared to complete the acquisition immediately following the receipt of the fairness opinion and the completion of an audit of Sky Harvest’s financial statements. Current directors of Keewatin own 53% of Sky Harvest’s issued and outstanding shares.

ON BEHALF OF THE BOARD OF Investor Relations 1 877 700 7021
KEEWATIN WINDPOWER CORP. toll free

Chris Craddock, President

For information on Sky Harvest Windpower see www.skyharvestwind.com

Safe harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and other factors over which Keewatin Windpower Corp. has little or no control.

November 13, 2007

Efficiency and Renewable Energy Summit - February 21, 2008 - February 22, 2008

The following is a Special Information Supplement from our Featured Company sponsor The Efficiency and Renewable Energy Summit

The Efficiency and Renewable Energy Summit is a Two-Day Strategic Event that will focus on the Best and Most Effective Trends in Efficiency and Renewable Energy for the energy and utilities industries.

As the nation works towards meeting the growing energy demands while maintaining security, energy independence and environmental protection, many industry participants are turning towards cleaner sources of energy. Some are looking at better ways of utilizing existing supplies of power producing material like coal and natural gas and others are embracing alternatives such as renewable energy technology. While the future landscape for the energy industry has yet to be determined it appears that a diversified portfolio of cleaner and safer means for the production of electricity is a realistic expectation.

But while representatives of utilities, industry and consumer groups all agree that tapping renewable energy is an important and necessary goal, questions remain over the best way of ensuring such power reaches businesses and consumers in a reliable and cost-efficient manner.

Many utilities understand that going green makes good business sense. Renewable energy can supplement their portfolio fuel mixes while allowing them to meet their contractual loads. Providing a valuable market service and better serving shareholders or stakeholders are compatible—something that about 200 utilities nationally of all types have discovered.

Topics to be covered include:

· Discovering new ways to implement renewable energy generation without disruption and increase efficiency

· How renewable energy certificates and policies are changing the energy industry

· Successful strategies for integrating hydroelectric power

· Project management, operations and strategic planning for energy efficiency

· Building the business case for buying renewable energy

· A practical approach to wind integration

· The potential role of biomass energy

· Maximizing performance and efficiency with Solar energy

· Strategies for Nuclear power use and their energy future

· Eco-labeling: how to continue the “buzz” for renewable energy

· Global Outlooks and markets for renewable energies

· Concrete steps and concepts in developing geothermal energy

· Utilities perspective on Ocean Power Projects

· Contribution of renewable energies to climate protection

· Evaluating the next wave of renewable energy concepts and technologies that will best serve your company and executing your strategy

· The latest renewable energy projects, developments and regulations


Reasons for Energy companies and professionals to attend:

- keep up-to-date with the latest technological developments

- network with suppliers, consumers, competitors and other key stakeholders within your industry

- find new opportunities across a global platform

- do your business deals by seeing the entire industry in one week and in one place - saving money, energy and carbon emissions

This conference offers you the opportunity to meet your potential clients as well as the chance to reinforce your relationships with existing customers. ACI have put together a range of packages to suit all budgets and requirements. These range from branding options, to full scale partner solutions and can be tailored to meet your objectives and budgets. With opportunities such as drinks reception sponsorship, exhibition spaces, and options to sponsor round table groups and panel discussions there is certainly something to meet your needs. We will be happy to talk to you about the opportunities available, and to work with you to create a strategic platform for your organization.

For more information please contact Elena Pitt at 312 780 0700 x208 or epitt@acius.net.

October 29, 2007

Q & A with Fund Managers of Guinness Atkinson Alternative Energy Fund

The following interview is provided to us by Guinness Atkinson Funds, a Featured Company Advertiser at Alt Energy Stocks.

Fund managers Tim Guinness, Edward Guinness and Matthew Page discuss the Guinness Atkinson Alternative Energy Fund in a question and answer forum covering topics from the alternative energy market to management style and methodology for selecting stocks and managing the portfolio.

To view the complete Q&A, please see below.

----------------------------------------------------------------------------------------

Q. Tim, your experience in managing energy comes from your many years managing more conventional energy investments. What led you to alternative energy?
A. I have been running a conventional energy fund since 1998 and have been following alternative energy stocks as a sub sector within the energy universe since then. Not that I owned much in it, as there was always such good value in the conventional energy sector. I did however buy Gamesa* (the wind company) in that fund shortly after it IPO’d in late 2000 but I sold it quite soon afterwards as I came to conclude its valuation along with all other stocks in the sector to be too high. As the oil price started to rise in 2004 through 2005, valuations and the potential growth of the market started to look better. The debate around climate change was intensifying and energy security was pressing on the minds of politicians. As a result the outlook for alternative energy looked more positive while the bear market that alternative energy had experienced in 2002 and from which it was only beginning to recover made it look like a much better investment proposition. Initially the best value continued to be in the conventional energy space but by May 2005 conventional oil & gas had moved up sharply and alternative stocks began to catch my interest again. I now regard them as two different but complementary ways of playing the ever higher energy price scenarios I believe we are facing as we look forward 10 – 20 years.

*3.15% net assets in GAAEX as of September 30, 2007. Fund holdings and sector allocations are subject to change at any time and are not recommendations to buy or sell any security.


Q. Edward , at the moment most forms of alternative energy are not economically viable without government incentives. How long will it be until alternative energy can stand on its own feet and what is going to get us there?
A. Some forms of alternative energy are economical now. Electricity production from hydro and geothermal sources has been tapped for many years and the technology is fairly mature. Wind power does benefit from subsidies but in specific locations with strong and predictable winds can be economic now. Subsidies for wind projects may not be necessary in 3 - 5 years time. The solar industry is dependent on subsidies and will require subsidies for longer but some industry analysts predict electricity from solar will be at parity with the grid in 5 - 7 years time in remoter locations with good isolation. The subsidies in place allow the industry to grow and technologies to be developed and mature and drive costs down. In predicting parity of course the price level for oil and gas has to be factored in. The higher conventional energy prices rise the sooner parity can be achieved.

Q. Matthew, what percentage of world energy production is from alternative energy and can alternative energy overtake more conventional energy sources?
A. If you exclude hydro, alternative energy makes up around 2.5% of world electricity production capacity of which wind is about 1% and solar 0.1% and various forms of biomass and geothermal make up most of the balance. In the medium term (~25 years) we could see wind and solar each making up 15% and 5% respectively of world electricity production increases of 15X and 50X respectively. Eventually we believe cheap fossil fuels will run out and alternative energy sources should be cheaper sources of electricity and should therefore become the more conventional source of energy.


Q. Tim, in the 1970s alternative energy was the next big thing. And then we didn’t hear much about it for over 30 years. Is it really the next big thing?
A. Consumption of oil has increased 50% since the 1970s and looks set to continue to increase driven largely by the rapid development of the economies of India and China. Cheap oil is becoming harder to find; existing basins are maturing and exploration has had to go further off shore and into deeper waters making exploration and production more expensive. We see a floor in the oil price at $50 and we could easily see it go over $100 in the next five years. If oil, gas and coal prices steadily move higher as we predict and alternative energy technologies continue to develop and become cheaper, there is significant potential growth for the industry for a considerable period of time as the baton of electricity generation is passed from fossil fuels to alternatives. The other significant difference is that a number of the areas of alternative energy – particularly hydro, geothermal, wind, solar and even biofuels – have companies that are already generating revenues and profits. Over 84% of our portfolio is invested in stocks which we anticipate should have positive earnings for 2007. This is a notable change from where the industry was in the 1970s.


Q. Edward, what criteria do you have for inclusion in the Fund? What defines an alternative energy stock?
A. We take a pure-play approach whereby we have a preference for stocks with 50% of revenues or profits should come from alternative energy sources. This excludes us from buying stocks such as General Electric despite the fact that they are one of the largest manufacturers of wind turbines. We define alternative energy to include all forms of energy that are not derived from fossil fuels. We also include companies that are working on technologies to make processes more energy efficient and companies that can generate carbon credits as we think that demand side improvements in the “energy balance” should play a major part in the move beyond our declining fossil fuel reserves. . We also mainly invest in companies with market capitalizations over $100 million.


Q. Matthew, the Guinness Atkinson Alternative Energy Fund is global in nature and only approximately 20% of the Fund is invested in the U.S. Is the U.S. behind the curve in alternative energy?
A. Alternative energy is most developed in countries where government subsidies have been in place for some time. Germany put in place strong incentives in the early part of this decade to encourage demand for solar modules,to encourage installations of wind farms and to support the biofuels industry. Companies in countries with a more progressive alternative energy policy framework therefore developed technology and intellectual property at an earlier state. Other European countries such as Denmark, Spain and Portugal also embraced alternative energy therefore companies tend to be more mature in Europe. However the potential for growth in the U.S. is greater, and once a longer term framework has been put in place, we would expect the U.S. to catch up fast.


Q. Tim, how tied to the price of oil are the alternative energy stocks?
A. Historically the price of alternative energy stocks and the oil price have been fairly tightly correlated. If the oil prices were to fall back to $30 then these stocks could be hit hard. However, looking forward we see a momentum behind the alternative energy industry and the stocks could continue to perform even if the price of oil remains flat. If the oil price continues to rise as we expect then even better.


Q. Edward, we see the Alternative Energy Fund has a wide range of market caps. How would you characterize the Fund, both in terms of market cap and style?
A. Small to mid cap. Growth at a reasonable value.


Q. Tim, Edward & Matthew, tell us a bit about your management style and methodology for selecting stocks and managing the portfolio.
A. The fund is managed by a team of three fund managers. Tim Guinness is the Lead Manager and Edward Guinness and Matthew Page are Co-Managers. We see a lot of companies as they come through London as well as making company visits and attending conferences around the world. We take a 50/50 top-down/bottom-up approach. We look to identify the sub sectors within the space which we see as having the greatest potential for growth and strong returns. Recently we have preferred wind and solar over fuel cells and biofuels but this is constantly under review. We then screen the universe of 200 stocks we have identified to try and identify good companies that are cheap where sentiment towards them is improving and stock price action is positive. One tool we use is to screen by value, earnings momentum, economic returns vs peers, and a technical indicator. This identifies stocks for us to then do further in depth analysis. We run the portfolio on the basis of units, half units and research positions. Units are high conviction, liquid, large market capitalization stocks and will represent around 3% of NAV. Half units are stocks which either are liquid but our conviction is less strong or our conviction is high but the liquidity of the stock restricts us from buying more. Research positions tend to be smaller less liquid stocks which may not be profitable but are fairly unique and have potential for significant growth given a technological breakthrough or significant contract. Research positions in aggregate account for less than 10% of the NAV.


The information provided herein represents the opinions of Tim Guinness, Edward Guinness, and/or Matthew Page and is not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 800-915-6566 or by visiting www.gafunds.com. Read it carefully before investing.

The Fund invests in foreign securities which will involve greater volatility and political, economic and currency risks and difference in accounting methods. The Fund is non-diversified meaning its assets may be concentrated in fewer individual holdings than diversified funds. Therefore, the Fund is more exposed to individual stock volatility than diversified funds. The Fund also invests in smaller companies, which will involve additional risks such as limited liquidity and greater volatility.

Distributed by Quasar Distributors, LLC (10/07).

October 15, 2007

Ethanol Report

The following is a Special Information Supplement provided to us by Guinness Atkinson Funds, a Featured Company Advertiser at Alt Energy Stocks.

Written by Matthew Page, Co-manager of the Alternative Energy Fund
______________________________________________________________

Excerpt from Ethanol Report:

Ethanol: Fuel for thought.
The sun, rich mid-America farmland, water and a little patience. These simple, wholesome ingredients combine to form what has been dubbed an energy savior: ethanol. Ethanol seems almost a miraculous solution to our energy problems. But is it? Can ethanol replace gasoline as the transportation fuel of choice in the U.S.? Or is it more of a contributory element in reducing dependence on oil? And what impact does growing corn for fuel have on the global food supply? The only thing growing faster than ethanol production are the predictions for future ethanol production and usage. In this report we provide background information on ethanol--what it is, its history, supply and demand and its economics--and examine the prospects for ethanol going forward.

Click here to access the entire Ethanol Report (PDF)

The information provided herein represents the opinion of Matthew Page and is not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the Fund and it may be obtained by calling (800) 915-6565 or visiting the Fund’s website at www.gafunds.com. Please read it carefully before investing.

The Fund invests in foreign securities which will involve political, economic and currency risks, greater volatility and differences in accounting methods. The Fund is non-diversified meaning its assets may be concentrated in fewer individual holdings than diversified funds. Therefore, the Fund is more exposed to individual stock volatility than diversified funds. The Fund also invests in smaller companies, which will involve additional risks such as limited liquidity and greater volatility.

Distributed by Quasar Distributors, LLC, (10/07).

August 22, 2007

Energy Kills, Energy Cures Campaign Launches

The following is a special information supplement on behalf of our Featured Company Energy Cures.

The Energy Kills, Energy Cures Campaign has launched supporting the interconnected solution to fighing poverty environmental degradation.

The Energy Cures Campaign, a grassroots social and environmental call-to-action, launched across the world motivating people to stop the inherent cycle between poverty, dirty energy and its drastic affect on the environment. Providing a simple platform to support the renewable energy efforts of developing countries, Energy Cures creates an opportunity to get involved with a solution that benefits both people and the planet. By advancing the accessibility of modern energy solutions for the world's impoverished, Energy Cures breaks the cycle of poverty and diminishes dirty energy's contamination of both the environment and global economies.

Public support and awareness is vital in reducing dirty energy's devastating impact on the planet and resulting social implications. The Energy Cures Campaign serves as the clearinghouse to become educated on the issues, connected to the real stories and involved in the global action. By visiting EnergyCures.org, people make tax-deductible contributions directly financing entrepreneurial efforts of poverty-stricken nations and their quest to establish clean, renewable energy sources. By financing entrepreneurs around the globe working to make their communities safer and more sustainable places to live, the progression of invested projects has astounding benefits for the local health and economy, as well as the global environment.

Worldwide, 1.6 billion people are without any access to electricity, with an additional 2.4 billion people subjected to rely on dirty fuels for every day use. Typically, dirty energy sources are all that is accessible to impoverished nations. Releasing dangerous particles into the atmosphere, not only does the consumption of this energy have a negative environmental and health impact, there is a significant social-economic one as well.

“Statistics show that if a child stays home to collect firewood for cooking, instead of going to school, it is most likely their child will also be forced into a similar reality,” says Gina Rodolico of Energy Cures and Director of Communication for E+Co, the non-profit organization and catalyst behind the Campaign. “And if this child's mother spends four hours of every day hauling water for her family's daily use, the chances for escaping poverty practically vanish. But by investing in local, clean energy entrepreneurs and their businesses, we can develop a sustainable solution to multiple challenges.”

The Energy Cures Campaign is a special initiative spearheaded by E+Co, a non-profit financial services organization. Over the past 13 years, E+Co has proven that it is possible to invest in local businesses that develop and deliver modern, clean energy in villages and cities in Africa, Asia and Latin America that allows for economic development, protects the planet and helps people escape the cycle of poverty. Since its inception, E+Co has mobilized over $157 million, provided modern energy to over 3.6 million people, supported almost 3,000 jobs and offset 2.2 million tons of CO2. Through Energy Cures, a goal to generate an additional $50,000 has been established to strengthen the efforts of further developing the supply chain for modern energy sources.

As a grassroots movement to support clean energy advancement across the globe, the public's direct involvement is crucial to the overall impact of this initiative. By visiting EnergyCures.org, real life stories and projects of the entrepreneurs illustrate how individual support has a tremendous impact on community. For instance, a tax-deductible donation of $8.33/month (a total year contribution of $100) equals the cost of five clean, efficient cookstoves in Tanzania. An E+Co-supported enterprise, Toyola, distributes these $20 cookstoves to local families. Not only is the local entrepreneur establishing a revenue stream, with use of a cookstove each of the five families save $35 annually in fuel costs. A savings of $35 per family is a significant impact for a country with a per capita GDP of $610.

The Energy Cures Campaign seeks to end world poverty while protecting the planet. Believing that market-driven businesses are a solution to meeting the energy needs of over 2 billion people in an environmentally-conscious way, Energy Cures establishes sustainable communities, stimulates impoverished economies, and preserves environmental resources. For more information and to become involved, visit Energy Cures.

July 25, 2007

4th Annual Energy Tech Investor Forum on October 3 to 4, 2007 in San Jose, CA

The following is a Special Information Supplement from our Featured Company sponsor Energy Tech Investor Forum

Alternative Energy is not only changing your world, but also the venture investment landscape as we know it and could be the largest economic opportunity of the 21st century.The demand for efficient, clean and reliable energy in its many forms is responsible for creating opportunities across a variety of global economic sectors. The innovation and automation of the Energy industry have given rise to an important area of venture capital investment - the Energy Technology sector.

Did you know?

  • Cleantech Venture Network reported that North American venture capital investment in the cleantech category totaled $2.9 billion for 2006, representing a 78% increase over 2005 cleantech investment of $1.6 billion, and a 140% increase over 2004 investment of $1.2 billion.
  • The surge in investments come from energy technologies related to energy generation, storage, recycling and waste, and transportation.
  • By 2009, the Cleantech Venture Network estimates that clean technology companies will need abut $3.4 billion in capital investment.
  • Mainstream venture capitalists, strategic and corporate investors have joined specialized energy funds and strategic investors that are placing increasingly bigger bets on energy technology companies Notable investors include Bill Gates, Steve Case, Paul Allen, John Doer, and some of the world’s largest companies, such as General Electric, Goldman Sachs, J.P. Morgan Chase, Sharp, Toyota, BP, Shell Oil, and CalPERS.

Now in its fourth annual year, this premier event will once again bring together an illustrious faculty of leading corporate and strategic buyers from the energy technology community to share their perspective on investment opportunities, challenges and critical issues facing the industry today!

Program Highlights Include:

  • Market outlook - identifying the next wave of alternative energy tech deals
  • Clean technology – What does all the hype mean to the sector?
  • Energy efficiency & reliability – balancing environment and business requirements
  • Investing in clean tech fund: The LP’s perspective
  • Fossil and nuclear based fuels
  • Clean tech, nano-materials & bio tech convergence
  • Energy tech in the labs: getting breakthrough technologies out
  • Liquidity, returns and exits in the renewable and alternative energy space
  • Green tech investments – where is it today, what is the reality and where is it going?
  • Sector focus: distributed energy, wind, solar & water, fuel Cells, biofuels, energy storage

Join us in San Jose this October, and learn what’s on the horizon for the next 12 months! Attending this conference will enable you to network with some of the most highly regarded names in the industry. It will be a unique opportunity to spend time with the industry’s key decision-makers, thought leaders, investors, and innovator.
For more information, please visit: Energy Tech Investor Forum


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