Proactiveinvestors United Kingdom - Renewable Energy RSS feed http://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom - Renewable Energy feed en Sat, 20 Jan 2018 11:27:12 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com action@proactiveinvestors.com Inspirit on a charge to commercialisation http://www.proactiveinvestors.co.uk/companies/news/126707/inspirit-on-a-charge-to-commercialisation-126707.html Fri, 03 Jun 2016 13:35:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/126707/inspirit-on-a-charge-to-commercialisation-126707.html Green & Smart rises to opening day premium on AIM http://www.proactiveinvestors.co.uk/companies/news/125858/green-smart-rises-to-opening-day-premium-on-aim-125858.html Thu, 12 May 2016 11:11:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/125858/green-smart-rises-to-opening-day-premium-on-aim-125858.html Sunedison soars on findings of accounts probe http://www.proactiveinvestors.co.uk/companies/news/124815/sunedison-soars-on-findings-of-accounts-probe-124815.html Thu, 14 Apr 2016 14:38:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/124815/sunedison-soars-on-findings-of-accounts-probe-124815.html NextEra Energy Inc completes sale of gas powered plants http://www.proactiveinvestors.co.uk/companies/news/124445/nextera-energy-inc-completes-sale-of-gas-powered-plants-124445.html Tue, 05 Apr 2016 14:26:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/124445/nextera-energy-inc-completes-sale-of-gas-powered-plants-124445.html International Wastewater Systems modernizes energy recycling with fresh take on familiar technology http://www.proactiveinvestors.co.uk/companies/news/122932/international-wastewater-systems-modernizes-energy-recycling-with-fresh-take-on-familiar-technology-122932.html Wed, 24 Feb 2016 12:01:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/122932/international-wastewater-systems-modernizes-energy-recycling-with-fresh-take-on-familiar-technology-122932.html UCSB backs OTC quoted tech firms Hypersolar and BioSolar http://www.proactiveinvestors.co.uk/companies/news/121241/ucsb-backs-otc-quoted-tech-firms-hypersolar-and-biosolar-121241.html Tue, 12 Jan 2016 15:34:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/121241/ucsb-backs-otc-quoted-tech-firms-hypersolar-and-biosolar-121241.html Inspirit says it’s well positioned for 2016 http://www.proactiveinvestors.co.uk/companies/news/120888/inspirit-says-its-well-positioned-for-2016-120888.html Thu, 31 Dec 2015 09:18:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/120888/inspirit-says-its-well-positioned-for-2016-120888.html Inspirit Energy welcomes govt microCHP tariff decision http://www.proactiveinvestors.co.uk/companies/news/120655/inspirit-energy-welcomes-govt-microchp-tariff-decision-120655.html Fri, 18 Dec 2015 13:32:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/120655/inspirit-energy-welcomes-govt-microchp-tariff-decision-120655.html Inspirit's electricity generating boiler passes tests http://www.proactiveinvestors.co.uk/companies/news/120591/inspirit-s-electricity-generating-boiler-passes-tests-120591.html Thu, 17 Dec 2015 11:55:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/120591/inspirit-s-electricity-generating-boiler-passes-tests-120591.html Solarcity to focus on cost cutting next year; shares plunge http://www.proactiveinvestors.co.uk/companies/news/116900/solarcity-to-focus-on-cost-cutting-next-year-shares-plunge-116900.html Fri, 30 Oct 2015 14:43:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/116900/solarcity-to-focus-on-cost-cutting-next-year-shares-plunge-116900.html First Solar rises early in the morning http://www.proactiveinvestors.co.uk/companies/news/116879/first-solar-rises-early-in-the-morning-116879.html Fri, 30 Oct 2015 11:24:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/116879/first-solar-rises-early-in-the-morning-116879.html Infigen Energy to sell U.S. solar development pipeline http://www.proactiveinvestors.co.uk/companies/news/154161/infigen-energy-to-sell-us-solar-development-pipeline-63153.html Infigen Energy (ASX:IFN) has agreed to sell its U.S. solar development pipeline to a global solar energy company for US$37.9 million.

On closing of the transaction Infigen will receive approximately US$8.8 million with the balance receivable in November 2015.

The sale includes include an earn-out structure that could allow the company to receive up to an additional US$30 million in conditional payments.

Since commencing US solar development activities in 2012, the U.S. solar development pipeline has been held in entities outside of Infigen’s Global Facility borrower group and its accumulated tax benefits.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 26 Jun 2015 04:30:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/154161/infigen-energy-to-sell-us-solar-development-pipeline-63153.html
Ballard Power wins order to supply fuel-cell modules for 8 buses in China http://www.proactiveinvestors.co.uk/companies/news/106316/ballard-power-wins-order-to-supply-fuel-cell-modules-for-8-buses-in-china-60998.html Ballard Power Systems (TSE:BLD), a Canadian fuel-cell maker, received a contract from a Chinese customer to supply next-generation fuel-cell modules for eight buses.  Shares advanced.

The Vancouver, British Columbia-based company said in a statement today that it will supply FCvelocityTM-HD7 power modules for 8 buses to be deployed in a number of Chinese cities. Ballard expects to ship all of the modules in 2015.

The value of the contract was not disclosed.

"We are now beginning to see meaningful evidence of growing demand for clean energy mass transportation alternatives in China, including both buses and trams,” chief executive officer Randy MacEwen said in the statement.

“This demand is being driven by a pressing need to address China's challenging air quality issues, for which fuel cell technology is seen as an emerging option."

Shares rose 6 percent to C$3.01 at 1:42 p.m. in Toronto. The stock is up 27 percent this year.

China's rapid economic expansion over the recent past is resulting in public concern regarding deteriorating levels of air quality. The Chinese government is investing heavily in the renewable energy industry and on actions designed to save energy and reduce emissions.

The size and rapid growth of China's economy has resulted in considerably larger carbon dioxide emissions than other nations. In 2013, for example, China's carbon dioxide emissions from fossil fuels accounted for 29 percent of the global total, compared to 15 percent from the United States.

This growth has also spawned the largest commercial vehicle segment in the world, in terms of production and domestic sales, including the manufacture of more than 70,000 city buses in 2011. In that same year automotive emissions contributed more than 33 percent of the air pollution in Beijing, Shanghai and the Pearl River Delta Region.

A new energy program, launched in 2011 and involving 48 Chinese cities, has an objective of expanding public transit while also reducing the number of vehicles in cities.

One of the program's specific goals is to deploy more than 1,000 clean energy buses in each of its participating cities, taking advantage of government subsidies to facilitate this expansion.

Fuel cell buses, along with electric buses, are eligible for a subsidy of approximately $150,000, through 2017. In addition, hydrogen fuelling stations are eligible for a further subsidy of approximately $650,000.

 

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Wed, 15 Apr 2015 19:09:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/106316/ballard-power-wins-order-to-supply-fuel-cell-modules-for-8-buses-in-china-60998.html
Natcore launches cheaper and more efficient HIT solar cells http://www.proactiveinvestors.co.uk/companies/news/105935/natcore-launches-cheaper-and-more-efficient-hit-solar-cells-60445.html By allowing more light (4-6% higher than its closest competition Panasonic and Sanyo) to enter the cell, Natcore's cells produce correspondingly more solar power, generating what Natcore claims is an absolute efficiency increase of up to 4 percent on front side contact solar cells.

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Mon, 16 Mar 2015 19:22:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/105935/natcore-launches-cheaper-and-more-efficient-hit-solar-cells-60445.html
Ballard Power Q4 loss balloons on China contract termination; shares tumble http://www.proactiveinvestors.co.uk/companies/news/105668/ballard-power-q4-loss-balloons-on-china-contract-termination-shares-tumble-60096.html Ballard Power Systems (TSE:BLD) (NASDAQ:BLDP) tumbled in morning trades after the Canadian fuel-cell maker reported a larger loss in the fourth quarter due to the termination of licensing contracts in China.

Shares fell 9.5 percent to C$3.06 at 9:31 a.m. in Toronto, paring this year’s gains to 29 percent.

Net loss ballooned to $17.5 million, or $0.13 per share, the October-to-December quarter, from a net loss of $2.3 million, or $0.02 per share, in the same period a year earlier, the Vancouver, British Columbia-based company said in a statement late yesterday.

Normalized net loss widened to $0.09 per share from $0.02 normalized loss per share in the year-earlier period. That was also wider than the Zacks Consensus Estimate of a loss of $0.05.

Gross margin weakened to negative 19 percent in the fourth quarter, from 34 percent a year earlier.

Revenue fell 10 percent to $15.6 million, missing the $23.4 million estimate of one analyst polled by Capital IQ.

In the fourth quarter, Ballard Power’s cost of goods sold was $18.7 million, up 64 percent year over year.

Ballard said its 2014 performance was impacted by lower-than-expected sales in the Telecom Backup Power market, and that its fourth-quarter results were adversely impacted by the termination of licensing contracts in China and product warranty provisions.

“While Ballard’s financial performance in 2014 was disappointing, we have started 2015 with clear momentum in most of our target markets,” chief executive officer Randy MacEwen said in the statement.

“With the implementation of key growth initiatives, we are poised for an improvement in financial performance in 2015.”

Moving forward, the company said a technology solutions transaction with Volkswagen Group announced earlier this month and closed on February 23 significantly impacts the company's liquidity and net income for 2015 and beyond. The transaction has an aggregate value of approximately $80 million, Ballard said.

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Thu, 26 Feb 2015 13:47:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/105668/ballard-power-q4-loss-balloons-on-china-contract-termination-shares-tumble-60096.html
Ballard Power surges on 2 technology solutions contracts http://www.proactiveinvestors.co.uk/companies/news/105617/ballard-power-surges-on-2-technology-solutions-contracts-60023.html Ballard Power Systems (TSE:BLD), a fuel-cell maker, surged in today’s trading after saying it has signed two new technology solutions contracts to provide expertise in proton exchange membrane (PEM) fuel cell technology.

Shares soared 11.8 percent to $3.41 at 2:22 p.m. in Toronto, expanding this year’s rally to 44 percent.

The Burnaby, British Columbia-based company said in a statement today that it will provide expertise to Ardica Technologies and the other to “an unnamed global automotive OEM [original equipment manufacturer]."

The Ardica deal expands Ballard’s know-how into a new area.  The goal is to create a wearable fuel cell power system that will be used by soldiers. The company said its solution is lighter and would provide better performance than the current lithium-ion batteries soldiers currently use to power the devices they need for mission-specific equipment.

“These latest contracts are indicative of the growing interest we are seeing in fuel cell development programs,” Ballard’s vice president for technology solutions, Kevin Colbow, said in the statement. 

“In addition to the automotive sector, exciting opportunities are also emerging in aerospace, railway and military application areas. For all these, Ballard is uniquely positioned to help customers by means of compelling bundled technology solutions that leverage our deep expertise and also offer the potential for component supply in the longer term.”

Ballard said its work with Volkswagen Group and two other global automotive OEMs is continuing, augmented by a recent technology solutions deal with Volkswagen Group – announced on February 11 – that includes a 2-year extension to the engineering services program.

The contract announced today with a new global automotive OEM customer will involve work activities focused on fundamental fuel cell technology development.

The mandate of Ballard's Technology Solutions group is to help customers solve difficult technical and business challenges in their PEM fuel cell programs through customized, specialized engineering services.

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Mon, 23 Feb 2015 18:53:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/105617/ballard-power-surges-on-2-technology-solutions-contracts-60023.html
Ballard Power skyrockets on technology transaction with Volkswagen http://www.proactiveinvestors.co.uk/companies/news/105454/ballard-power-skyrockets-on-technology-transaction-with-volkswagen-59809.html Shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) surged today after the company agreed to a US$80 million technology services deal with Germany's Volkswagen. 

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Wed, 11 Feb 2015 14:25:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/105454/ballard-power-skyrockets-on-technology-transaction-with-volkswagen-59809.html
Ballard Power says to miss 2014 sales forecast after cancelling China contracts http://www.proactiveinvestors.co.uk/companies/news/104886/ballard-power-says-to-miss-2014-sales-forecast-after-cancelling-china-contracts-59066.html Ballard Power Systems (TSE:BLD) (NASDAQ:BLDP) fell to the lowest in more than a week in Toronto trading after ending two licensing contracts in China that will make the Canadian fuel-cell manufacturer miss its 2014 sales forecast.

Ballard decreased 10 percent to C$2.13 at 2:31 p.m. in Toronto, after touching C$2.08, the lowest intraday price since Dec. 24.

Ballard had expected to receive about $7.5 million from China’s Azure Hydrogen during the fourth quarter, the Vancouver, British Columbia-based company said in a statement today. Instead, it doesn’t expect to book any revenue for the quarter under two contracts with Azure and will record an impairment charge of $4.5 million for outstanding receivables.

Ballard cancelled the contracts with Azure due to “material breaches”.

“While we are clearly disappointed with this outcome with Azure and the negative impact on our 2014 financial results, we remain confident in the long-term attractiveness of the Chinese market for our fuel cell solutions,” the company’s chief executive officer, Randy MacEwen, said in the statement.

Ballard, which said it was exploring legal options, had signed two agreements with Azure in 2013 and 2014-- one to assemble bus power modules and the other to assemble telecom backup power systems.

The company said it won’t meet its 2014 targets for revenue and earnings before interest, taxes, depreciation and amortization.

The company reported revenue of $61.3 million in 2013, and in October said sales last year would exceed that by 20 percent.

Ballard said it will provide further details about the Azure contract in late February when it discusses 2014 audited financial results and its 2015 outlook.

 

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Fri, 02 Jan 2015 19:02:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/104886/ballard-power-says-to-miss-2014-sales-forecast-after-cancelling-china-contracts-59066.html
Algonquin Power unveils $33 mln investment by Emera, $100 mln bought-deal financing http://www.proactiveinvestors.co.uk/companies/news/104489/algonquin-power-unveils-33-mln-investment-by-emera-100-mln-bought-deal-financing-58537.html Algonquin Power & Utilities (TSE:AQN), a North American diversified generation, transmission and distribution utility, announced a $33 million investment by Emera.

The Oakville, Ontario-based company said in a statement late yesterday that in connection with the acquisition of Park Water Company, Emera has agreed to subscribe to a private placement of subscription receipts convertible into 3.3 million Algonquin common shares, for $33 million.

Algonquin said proceeds of the subscription receipts will be used to partially fund the $327 million acquisition of Park Water, announced on Sept. 19.

Park Water owns and operates three regulated water utilities engaged in the production, treatment, storage, distribution, and sale of water in Southern California and Western Montana.  The three utilities serve 74,000 customer connections and have more than 1,000 miles of distribution mains.

"We are pleased that we are able to continue the expansion of our utility distribution business with the acquisition of Park Water," Algonquin chief executive officer Ian Robertson, said in the statement.

"The $33 million subscription receipts issued to Emera allows us to efficiently issue additional equity which together with our public equity offering of $100 million will crystalize the accretive value from this acquisition."

Algonquin yesterday said it agreed with a syndicate of underwriters led by Scotia Capital Inc. and CIBC World Markets, under which the underwriters have agreed to buy, on a bought deal basis, 10.1 million common shares, at a price of $9.95 per common share for gross proceeds of $100 million.

Algonquin said it has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 15 percent of the offering to cover over-allotments, if any.

The offering will be made in all provinces of Canada and is expected to close on or about December 11.

 

 

 

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Wed, 03 Dec 2014 13:35:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/104489/algonquin-power-unveils-33-mln-investment-by-emera-100-mln-bought-deal-financing-58537.html
Hydrogenics Q3 loss more than doubles on higher expenses, weak loonie http://www.proactiveinvestors.co.uk/companies/news/104115/hydrogenics-q3-loss-more-than-doubles-on-higher-expenses-weak-loonie-58025.html Hydrogenics (TSE:HYG) fell to the lowest in nearly two weeks after the Canadian fuel cell maker said third-quarter loss more than doubled, hurt by increased expenses and a weaker Canadian dollar.

Shares dropped 10.6 percent to C$18.39, the lowest intraday price since Oct. 28, at 2:27 p.m. in Toronto.

Net loss widened to $1.3 million, or $0.13 loss per share, in the July-to-September quarter, from about $0.5 million, or $0.05 loss per share, a year earlier, the Mississauga, Ontario-based company said in a statement today.

Revenue increased 20 percent to $11.1 million.

Four analysts on average predicted a loss of $0.09 per share for the quarter and revenue of $13.12 million.

"The third quarter, as anticipated, showed steady upward momentum and positive order trends, positioning the Company for much stronger growth in the fourth quarter and 2015," the company’s chief executive officer Daryl Wilson said in the statement. "We booked our first North American energy storage award with the Ontario IESO, won a number of fueling station contracts in Europe and the U.S., and continued to bid on an active pipeline of opportunities across the globe.”

The company’s order backlog--an indicator of future sales--totalled $66.9 million at the end of the third quarter, slightly lower than the $67.1 million at the end of the second quarter.

 

 

 

 

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Mon, 10 Nov 2014 18:55:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/104115/hydrogenics-q3-loss-more-than-doubles-on-higher-expenses-weak-loonie-58025.html
Ballard lowers 2014 revenue target; shares retreat http://www.proactiveinvestors.co.uk/companies/news/103899/ballard-lowers-2014-revenue-target-shares-retreat-57747.html Ballard Power Systems (TSE:BLD) fell to a nearly two-week low after the Canadian fuel-cell product maker lowered its full-year revenue target.

Shares of the Vancouver, British Columbia-based company were down 8 percent at C$3.08 at 1:33 p.m. in Toronto, after touching C$3.01, the lowest intraday price since Oct. 16.

Ballard now estimates full-year revenue growth of 20 percent, rather than 30 percent, the company said in a statement late yesterday. The company said its revenue so far this year is 21 percent below management estimates.

For the third quarter, Ballard reported net loss shrank to $2.4 million, or $0.02 per share, from $4.6 million, or $0.05 per share.

Revenue rose 21 percent to $20.6 million.

Ballard Power develops fuel cell technology, an alternative energy source that doesn't rely on internal combustion.

 

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Wed, 29 Oct 2014 17:58:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/103899/ballard-lowers-2014-revenue-target-shares-retreat-57747.html
Carmanah Technologies climbs as Q3 revenues rise 147% http://www.proactiveinvestors.co.uk/companies/news/103562/carmanah-technologies-climbs-as-q3-revenues-rise-147-57264.html Shares of solar company Carmanah Technologies (TSE:CMH) climbed Tuesday after revealing expectations for its third quarter revenue to more than double from the same period last year due in part to acquisitions.

The company released preliminary financials for its third quarter that ended September 30, saying revenues were approximately US$12.1 million, up 147 percent from $4.9 million in the same quarter of 2013.

The latest figures include about $2.0 million from Sol Inc., which Carmanah acquired in July of this year. Excluding the $2.0 million, it said its historical Carmanah business still generated $10.1 million in revenues in the most recent quarter, up 106 percent from the third quarter of 2013.

Its order backlog grew throughout the period, and is significantly higher than at the end of the second quarter, the company said.

Gross margins remained steady with the first two quarters of 2014, it added.

"We are delighted with year to date revenue growth which we expect to continue into the fourth quarter given our increasing order backlog,” said chief executive officer, John Simmons.

"However, and as previously predicted, we expect profitability to be temporarily reduced through the balance of 2014 and early 2015 by the costs of integrating our acquisition of Sol, Inc.”

For the first nine months of 2014, the company has generated $30.3 million in revenue, an increase of 67 percent from the same period last year.

Full financials for the third quarter are slated to be released on November 13, Carmanah said.

The company has solar-powered products and systems for a number of industrial applications, including marine navigation, airfield ground lighting, aviation obstruction, roadway and parking lot lighting as well as on and off-grid power generation. It has deployed its technologies in more than 400,000 installations in 110 countries worldwide.

Shares added 4 percent to C$2.60 on Tuesday, extending year-to-date gains to more than 73 percent.

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Tue, 07 Oct 2014 16:33:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/103562/carmanah-technologies-climbs-as-q3-revenues-rise-147-57264.html
Cielo Waste Solutions proves one man’s trash really can be another’s treasure http://www.proactiveinvestors.co.uk/companies/news/103125/cielo-waste-solutions-proves-one-mans-trash-really-can-be-anothers-treasure-56629.html Between waste from manufacturing and other commercial activities and the garbage thrown out by the planet’s 7.2 billion people, society generates an unfathomable amount of refuse on a daily basis. It may end up out of sight, but it shouldn’t be out of mind. It all has to be stored somewhere, adding to the burden on our increasingly beleaguered environment. Cielo Waste Solutions Corp. (CSE:CMC) plans on being one of the entities that rides to our rescue.

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Mon, 08 Sep 2014 14:36:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/103125/cielo-waste-solutions-proves-one-mans-trash-really-can-be-anothers-treasure-56629.html
Algonquin Power to acquire construction-stage 200 MW wind project in U.S. http://www.proactiveinvestors.co.uk/companies/news/103106/algonquin-power-to-acquire-construction-stage-200-mw-wind-project-in-us-56607.html Algonquin Power & Utilities (TSE:AQN), which operates utility assets in North America, fell in morning trades after saying it agreed to acquire a construction-stage 200 MW wind project in the U.S.

Shares declined 3 percent to C$8.80 at 9:33 a.m. in Toronto, paring this year's gains to 20 percent.

The Odell wind power project's construction costs are estimated to be approximately $313.5 million, the Oakville, Ontario-based company said in a statement today.

Algonquin also announced that in connection with the Odell project, Emera Inc. has agreed to subscribe to a private placement of subscription receipts convertible into 7.9 million Algonquin shares for C$70.0 million. 

Proceeds of the subscription receipts will be used to partially fund the acquisition and completion of Odell.

The Odell wind power project is located in Cottonwood, Jackson, Martin, and Watonwan Counties in Minnesota and is being constructed on approximately 23,000 acres of land leased from a wind power supportive land owner group. 

The project will utilize proven turbine technology comprised of 100 Vestas V110-2.0 wind turbines and is scheduled to be commissioned in the fourth quarter of 2015. 

Odell has a 20-year power purchase agreement with a subsidiary of Xcel Energy, a diversified utility operating in the Midwest with an investment grade credit rating (S&P: A-, Moodys: A3), and is estimated to generate 816.6 GW-hrs annually. 

The Odell project qualifies for U.S. renewable energy production tax credits and it is expected that tax equity investors will provide approximately U.S. $190.8 million of equity financing toward project costs. The balance of the permanent financing will be arranged through Algonquin's power generation subsidiary's investment grade bond platform.

"There is significant demand for renewable energy in the U.S. and the investment in Odell is one of several near term opportunities that we see for accretive growth," Ian Robertson, chief executive officer of Algonquin, said in the statement. "The project further strengthens and diversifies our renewable energy generation portfolio with a 20 year power purchase agreement and a strong wind regime in a new geographic region."

Algonquin operates a diversified $3.6 billion portfolio of regulated and non-regulated utilities in North America. The regulated utility business provides water, electricity and natural gas utility services to 485,000 customers. 

 

 

 

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Fri, 05 Sep 2014 15:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/103106/algonquin-power-to-acquire-construction-stage-200-mw-wind-project-in-us-56607.html
Algonquin lifts dividend, reports strong Q2 net; revenue misses http://www.proactiveinvestors.co.uk/companies/news/102853/algonquin-lifts-dividend-reports-strong-q2-net-revenue-misses-56207.html Algonquin Power & Utilities Corp., (TSE:AQN), which operates utility assets in North America, fluctuated between gains and losses after hiking dividend and reporting lower-than-expected revenue increase in the second quarter.

Shares were up 0.2 percent at C$8.50 at 3:12 p.m. in Toronto. The stock has gained 16 percent so far this year.

Adjusted earnings rose to 16.5 million, or $0.07 per share, in the second quarter, from $14.9 million, or $0.7 per share, in the year-earlier period, the Oakville, Ontario-based company said in a statement late yesterday.

That beat the $0.06 average estimate of 6 analysts.

Revenue increased to $189.3 million from $148.8 million year-over-year, but fell short of Bay Street's consensus of $195.4 million.

The company ascribed the revenue increase to regulated utility acquisitions including Peach State Gas, New England Gas, and Pine Bluff Water, higher customer demand at EnergyNorth Gas, higher rates at Granite State Electric, and the impact of the stronger U.S. dollar.

Also yesterday, the company announced a dividend increase from a total annual dividend of C$0.34 to a total annual dividend of U.S. $0.35, paid quarterly at a rate of U.S. $0.0875 per common share.  

The change in dividend is an equivalent dividend ofC$0.382 which represents an approximate 12.4% annual increase.  

 

 

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Fri, 15 Aug 2014 20:29:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/102853/algonquin-lifts-dividend-reports-strong-q2-net-revenue-misses-56207.html
Ballard Power gains on $1 mln deal with M-Field http://www.proactiveinvestors.co.uk/companies/news/102073/ballard-power-gains-on-1-mln-deal-with-m-field-55113.html Ballard Power Systems Inc. (TSE:BLD), a Canadian fuel-cell maker, rose in midday trading after signing a deal for the sub-license of intellectual property to M-Field Energy Corp., a sustainable energy company, for material handling systems to be deployed in Europe. The deal is worth about C$1 million.

Shares advanced 1.4 percent to C$4.43 at 1:21 p.m. in Toronto. The stock has almost tripled this year.

Ballard said in a statement late yesterday that it will also provide M-Field with engineering services support into early-2015 through Dantherm Power A/S, the company's subsidiary in Denmark, to assist in optimizing system integration activities utilizing Ballard fuel cell stacks.

"This deal furthers our three-level business model, by leveraging Engineering Services and applicable IP in order to support the penetration of fuel cell products in a variety of geographic markets," Steve Karaffa, Ballard's Chief Commercial Officer said.

Ballard said H2 Logic A/S, a European manufacturer of hydrogen refueling stations and fuel cell systems for applications such as forklift trucks and tow tractors, has decided to narrow its business focus to hydrogen refueling stations.

Ballard said it has acquired the material handling intellectual property portfolio of H2 Logic A/S and is sub-licensing this IP to M-Field, a sustainable energy company, under today's agreement. 

Also under the agreement, Ballard will be the exclusive supplier of fuel cell stacks - including the FCgen-1020ACS air-cooled and FCvelocity-9SSL liquid-cooled stack products - for all material handling systems deployed by M-Field in Europe.

 

 

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Mon, 30 Jun 2014 18:59:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/102073/ballard-power-gains-on-1-mln-deal-with-m-field-55113.html
SolarCity surges on Silveo acquisition http://www.proactiveinvestors.co.uk/companies/news/101865/solarcity-surges-on-silveo-acquisition-54828.html SolarCity Corp. (NASDAQ:SCTY), the installer of rooftop power systems whose largest shareholder is billionaire Elon Musk, surged to the highest in more than two months after saying it agreed to buy Silveo, a solar panel manufacturer.

Shares of the San Mateo, California-based company soared 18 percent to $65.02 at 3:43 p.m. in New York after reaching $65.57, the highest intraday price since April 2.

The company will pay $200 million in stock for Silevo Inc. and may pay an additional $150 million if the company meets certain conditions, according to a filing with the Securities and Exchange Commission today.

SolarCity is driving a boom in U.S. rooftop solar energy by leasing systems that carry little to no upfront costs. It has more than 110,000 customers and expects to install as much as 1 gigawatt this year, using panels it buys from other companies. 

Buying Silevo will lower installation costs for SolarCity by allowing it to produce its own more efficient solar panels. 

Fremont, California-based Silevo is the latest buy in a shopping spree that SolarCity started last year.

In January, SolarCity bought startup Common Assets’ online platform to sell securities directly to investors. In October, the company bought Zep Solar, Inc. a maker of solar-module mounting systems, and in August acquired Paramount Solar, a solar sales and marketing firm.

 

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Tue, 17 Jun 2014 20:52:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/101865/solarcity-surges-on-silveo-acquisition-54828.html
First Solar gains on U.S. tariff decision, German acquisition http://www.proactiveinvestors.co.uk/companies/news/101657/first-solar-gains-on-us-tariff-decision-german-acquisition-54553.html First Solar (NASDAQ:FSLR) shares rose on Wednesday on the U.S. Commerce Department's decision late yesterday to tack on tariffs between 19% and 35% on Chinese solar panels, even if the panels contain solar cells made outside of China, benefiting U.S.-based solar stocks. 

Shares of First Solar rose 3.9% to US$65.37, while SunPower's (NASDAQ:SPWR) stock rallied 6.7% to US$34.15. 

Analysts at RBC Capital Markets said in a note today that the taxes will give First Solar and SunPower a competitive advantage over the low-cost Chinese producers. China-based solar panel producers like Yingli Green Holding (NYSE:YGE) dropped Wednesday, with U.S.-listed shares of Yingli last down over 3.7% at US$2.84. 

ReneSola (NYSE:SOL), which also makes solar wafers and solar power products based in China, lost 3.5% to US$2.23. 

First Solar also announced late today a deal to buy Berlin, Germany-based Skytron Energy from from AEG Power Solutions in its efforts to expand its power plant control systems business. Terms of the deal were not disclosed. 

Skytron provides photovoltaic power plant management systems, maintenance services, data monitoring technology and equipment to solar power plants throughout Europe. It currently has installed monitoring and control systems in more than 600 plants across Europe, more than doubling First Solar's global portfolio of monitored assets. The acquisition still requires consent by German merger control authorities, First Solar said.

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Wed, 04 Jun 2014 20:02:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/101657/first-solar-gains-on-us-tariff-decision-german-acquisition-54553.html
Ballard slumps even as company posts smaller-than-estimated loss http://www.proactiveinvestors.co.uk/companies/news/101065/ballard-slumps-even-as-company-posts-smaller-than-estimated-loss-53743.html Power Systems Inc. (TSE:BLD), a Canadian fuel-cell maker, fell to the lowest in two months after reporting loss narrowedby half in the first quarter aided by higher revenue from its engineering services and material handling businesses.

The shares slumped 8.5 percent to C$4.11 at 1:54 p.m. in Toronto. Earlier, they reached C$3.68, the lowest intraday price since Feb. 27. The stock has more than quadrupled in over the past year.

Net loss shrank 52 percent to $3.8 million, or 3 cents per share, in the three months ended March 31, from a loss of $7.9 million, or 9 cents per share, a year earlier, the Burnaby, British Colombia-based company said in a statement late yesterday.

Revenue rose 13 percent to $14 million.

Analysts on average had modeled a loss of 4 cents per share on revenue of $15.3 million, according to Thomson Reuters.

Revenue from Ballard's engineering services business, which counts Volkswagen AG (OTCMKTS:VLKAY) among its customers, rose nearly threefold in the first quarter. The business represented half of Ballard's total revenue in the quarter.

Ballard said it expected to begin supplying fuel cell stacks to service Plug Power Inc.'s (NASDAQ:PLUG) order with Wal-Mart Stores Inc. (NYSE:WMT) in the second half of this year.

 

 

 

 

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Tue, 29 Apr 2014 19:27:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/101065/ballard-slumps-even-as-company-posts-smaller-than-estimated-loss-53743.html
Ballard hits 3-week high after buying patents from United Technologies for $22 mln http://www.proactiveinvestors.co.uk/companies/news/101014/ballard-hits-3-week-high-after-buying-patents-from-united-technologies-for-22-mln-53672.html Ballard Power Systems Inc. (TSX:BLD), a provider of clean energy fuel cell products, advanced to the highest in three weeks after saying it acquired United Technologies Corp.'s (NYSE:UTX) fuel cell intellectual property (IP) assets for $22 million.

Ballard rose 3.2 percent to C$4.55 at 2:11 p.m. in Toronto after touching C$4.79, the highest intraday price since April 4.

The investment consists of $2 million in cash and $20 million in common shares at $3.97 per share, Burnaby, British Colombia-based Ballard said in a statement late yesterday.

"We believe that this acquisition gives Ballard a commanding position in strategic fuel cell IP, strengthening our ability to grow shareholder value," Ballard Chief Executive Officer John Sheridan said in the statement.

The two companies said they have formed a strategic alliance led by a joint advisory council, which will focus on exploring future commercial market applications.

"Our new alliance with United Technologies will bolster Ballard's execution capabilities, particularly in the generation of IP licensing revenue," Sheridan said.

The IP, which relates to both transportation- and stationary-related fuel cells, consists of about 800 patents and applications, patent licences and invention disclosures.

The shares, which have one "strong buy" and 3 "hold" recommendations from analysts, have nearly tripled since the beginning of the year, giving the company a market value of C$497.6 million.

 

 

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Fri, 25 Apr 2014 19:44:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/101014/ballard-hits-3-week-high-after-buying-patents-from-united-technologies-for-22-mln-53672.html
Green & Smart eyeing 'enormous' growth - Saravanan Rasaratnam http://www.proactiveinvestors.co.uk/companies/stocktube/7459 Saravanan Rasaratnam, managing director of Green & Smart Plc (LON:GSH) sits down with Proactive's Andrew Scott to look back on the company's first year on AIM and how the business has developed.

''Within a year we've completed seven plants, of which two of them are our own and one's been connected to the grid - our flagship plant'', Saravanan Rasaratnam says.

''The important part is that we've moved from being a mere EPCC player to an independent power producer in the country''.

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Tue, 16 May 2017 08:11:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7459
Inspirit sees early demand for its combined heat and power boiler http://www.proactiveinvestors.co.uk/companies/stocktube/5090 Inspirit Energy Holdings PLC (LON:INSP), has designed a micro combined heat and power (mCHP) boiler, that not only heats the home, but also produces up to 3kW of electricity.

John Gunn, chief executive, tells Proactive Investors: “Today we are pleased to say that the product is ready to go out into the market.”

The company is manufacturing its first units with partners expected to receive the first boilers later this year.

In the first full year of production, Gunn says the company will make between 1,200 and 1,500 boilers, but adds that there is an upcoming e-commerce site allowing the public to buy them in the future.

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Tue, 31 May 2016 15:55:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/5090
Green & Smart raises £4mln in AIM listing to build palm oil biogas plants in Malaysia http://www.proactiveinvestors.co.uk/companies/stocktube/5019 Saravanan Rasaratnam, group managing director at renewable energy firm Green & Smart Holdings (LON:GSH) talks to Proactive Investors about the company's AIM listing, which raised £4mln to build new biogas plants in Malaysia.

Rasaratnam explains that the company produces renewable energy from biogas captured from the treatment of palm oil mills wastewater.

Green & Smart benefits from a favourable context since Malaysia is planning legislation that would make it compulsory for all mills to have biogas facilities.

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Thu, 12 May 2016 09:20:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/5019