Energy Industry Archive

The Company: EMCORE Corp., a provider of semiconductor-based components and subsystems. The Filing: FORM 10-Q filed with the SEC on August 11, 2008. The Finding: On August 5, EMCORE Corp. announced two purchase agreements, with a total value of approximately $40 million, for delivery of its semiconductor-based, multi-junction solar cells. The products will be incorporated into concentrating...

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Last week, StrategyEye Cleantech reported that Google and General Electric would team up to “support cleantech development and promote policies for renewable energy and sustainable business.” GE CEO, Jeffrey Immelt, and Eric Schmidt, CEO of Google, announced the alliance at “Zeitgeist,” Google’s annual gathering of industry heads, journalists and politicos at Google’s headquarters...

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The Company: Teck Cominco Limited, a diversified mining company. The Filing: Form 6-K filed with the SEC on September 17, 2008. The Finding: Teck Cominco Limited said its share of capital costs for the first phase of the Fort Hills oil sands project, of which it owns a 20 percent working interest, is now pegged at $4.2 billion, up $1.84 billion from an initial June 2007 cost estimate. The tar...

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The Company: Bronco Drilling, a supplier of contract land drilling and workover services to oil and natural gas producers. The Filing: Form 8-K filed with the SEC on September 10, 2008. The Finding: August operational data reveals flat utilization of the Bronco Drilling’s fleet of about 84 percent, with the 11.5% year-on-year increase in average dayrate on operating drillings rigs to...

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Cascade Investments, Bill Gates‘ pet VC firm — which for reasons inexplicable has no presence on the information superhighway — has ponied-up a fat wad of cash for “green crude” producer, San Diego, Calif.,-based Sapphire Energy. Back in May, Sapphire announced that it could produce renewable 91 octane gasoline made from algae. Cascade wasn’t the only...

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The largest ever U.S. biomass power plant (100 megawatts) is to be built near Austin, Texas. Austin’s city council approved a 20-year, $2.3 billion plan to purchase power from a proposed plant fueled entirely by wood waste and to be built and managed by Nacogdoches Power, LLC. The plant will run on “forest residues, whole tree chips, municipal tree waste and mill residue,”...

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The Company: Constellation Energy Group, a power and gas wholesaler and owner of Baltimore Gas & Electric. The Filing: Form 10-Q filed with the SEC on August 11, 2008. The Finding: Amid concerns over Constellation Energy Group’s commodity trading activities and related access to credit, Standard & Poor’s is ready to cut its ‘BBB’ ratings on the power supplier and...

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As if by magic, the price of crude oil dove $10 in the last two days, coming in below $100 a barrel for the first time in six months. Conventional wisdom has it that the sudden downward slide had something to do with the financial crisis and the collapse of Lehman and Merrill (although prices rose again somewhat today on news of the AIG bailout). It is said that speculators are, well,...

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The Company: Evergreen Solar, a manufacturer of solar power products. The Filing: Form F-3 Registration Statement filed with the SEC on June 24, 2008. The Finding: Despite assurances by Michael El-Hillow, Chief Financial Officer of Evergreen, the Chapter 11 filing by Lehman Brothers could expose the solar panels maker to a potential shareholder dilution of more than 20 percent if shares lent...

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[Via  StrategyEye]: SolarReserve, a heliostatic solar thermal provider based in Santa Monica, Calif., has raised $140 million in a second funding round by Citi Alternative Investments, Sustainable Development Investments, Good Energies, US Renewables Group, PCG Clean Energy & Technology Fund, Nimes Capital and Credit Suisse. SolarReserve says it will use the funding to finance solar...

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