Energy
The Business Day In Global Warming (FPL, ITRI, PEFF, BF, MMM, CPOW, GE, YGE, AKNS, PGN, SI, STP, XOM)
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This is the crus of the news regarding Global Warming and the public companies that made announcements over the last 36 hours:
FPL Group (NYSE:FPL) chairman called the Climate Bill "Well intentioned but fundamentally flawed": Lewis Hay said, “I acknowledge and applaud the willingness of key senators to try and address the important issue of global climate change. Unfortunately, the bill they have proposed, if left unchanged, would reward the country’s biggest emitters of carbon dioxide with billions of dollars of free allowances that they don’t need. Moreover, the bill contains no clear ‘safety valve,’ to ensure that we don’t inadvertently damage the economy.”
Itron (NASDAQ:ITRI) shares were hit very hard (as much as 18%) after earnings today, but Lazard Capital Markets reiterated its BUY rating and $115 price target. Evergreen Solar (NASDAQ:ESLR) shares rose over 10% after ThinkEquity raised its rating from Accumulate tp Buy" after a production facility visit.
Power Efficiency Corporation (OTCBB: PEFF.OB), a green energy companyfocused on efficiency technologies for electric motors, today announcedit closed on a $5.675 million private placement of Units. Insiders,including Steven Strasser, Chairman and CEO, and three other directors,invested $1.15 million in the offering.
BASF (NYSE:BF) will show and explain the use of technologies andanalytic tools that can make building projects more sustainable atGreen Build 2007, November 6-9, at McCormick Place West, Chicago,Illinois.
3M (NYSE:MMM) joined the Clinton Climate Initiative’s landmark globalprocurement agreement today to reduce carbon dioxide emissions bymaking energy savings technologies affordable and accessible to citiesaround the world, and it will sell its energy-saving window film to 40of the world’s largest cities at greater volumes and reduced costs,helping city buildings cut back on the energy they consume andassociated carbon dioxide emissions.
Clean Power Concepts Inc. (OTCBB:CPOW) entered into discussions withpotential strategic partners to assist in attracting and fulfillingopportunities in the United States and Canada it is currently pursuingfor 2008. These partners were identified at the Solar 2007 Show whichwas recently held in Long Beach, California.
GE Energy Financial Services, a unit of General Electric Company (NYSE:GE), is investing in a 120-megawatt wind farm in Texas with InvenergyWind LLC, a leading global wind power developer.
Yingli Green Energy Holding Company Ltd. (NYSE:YGE) signed an agreementto sell 16.5 MW of photovoltaic modules to Aplicaciones Técnicas de laEnergía, S.L. ATERSA and its parent company, the Elecnor S.A., areleaders in producing and distributing PV modules and PV equipment aswell as PV “Turn-Key Projects” in Spain.
Akeena Solar, Inc. (NASDAQ:AKNS), a leading designer and installer ofsolar power systems, today announced it has entered into securitiespurchase agreements with certain accredited, institutional investors,to raise approximately $26.1 million through the issuance of 3,728,572shares of common stock and warrants to purchase 745,716 shares ofcommon stock.
Progress Energy Carolinas, part of Progress Energy (NYSE:PGN) isseeking renewable energy proposals to meet increasing renewable energytargets that take effect in the near future.
ExxonMobil (NYSE:XOM), perhaps the most attacked "dirty’ company fromenvironmentalists posted revenues in exxcess of $102 BILLION onThursday morning, and its earnings actually lagged analyst estimates as24/7 Wall St. had discussed before.
The Clinton Climate Initiative enlists Siemens (NYSE:SI) to help reduceGreenhouse Gas Emissions with Hybrid Drive Systems for city buses.
Suntech Power Holdings Co., Ltd. (NYSE: STP) announced a first phaseagreement with Nitol Solar Ltd. to supply polysilicon to Suntech over aseven-year period beginning in 2009.
The U.S. Senate global warming subcommittee in a 4-3 vote passed aglobal warming bill that calls for limits on carbon dioxide and othergreenhouse gases emitted from power plants, refineries, factories andmotor fuels.
View the October 31, 2007 "The Business Day of Global Warming"
Jon C. Ogg
November 2, 2007
As a reminder, whether you prefer the term "Global Warming" or "ClimateChange" is not the issue as far as 24/7 Wall St. covers it. Greenbusiness has become big business, and this affects many publiccompanies today.
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