McDermott (NYSE:MDR) realigned its its B&W into 4 units, mostly aspects of nuclear but it also is focusing on cleaner coal and carbon capture.

Google (NASDAQ:GOOG) is going greener than green with a new business venture… in alternative energy generation and a search to eliminate carbon from coal.  As Google’s initiative is aimed at eliminating and lowering coal use emissions, one key player there (that was not mentioned at all) is Fuel Tech Inc. (NASDAQ:FTEK) and it has been beaten up lately.

Gulf Ethanol (OTC-BB:GFET), which you have likely seen advertised all over the internet, licensed a ‘breakthrough technology” in an agreement to acquire the exclusive rights to a cellulose feed-stock processing technology and will have the exclusive right to deliver this new technology solution to the ethanol industry.

Active Power, Inc. (NASDAQ:ACPW) announced its CleanSource UPS (uninterruptible power supply) system was awarded the 2007 Product Design Innovation of the Year by the Institution of Engineering and Technology….noise rather than financial news.

Hewlett-Packard (NYSE:HPQ) announced relationships with two renewable energy providers, SunPower Corp. in the U.S. and Airtricity in Ireland, as part of the company’s strategy to reduce its global carbon footprint. HP will install its first-ever, large-scale solar power installation at its San Diego facility. And now it will ensure that nearly 90 percent of HP’s energy use in Ireland is renewable, exceeding the company’s 2007 target for carbon emission reductions.

Yingli Green Energy Holding Company Limited (NYSE:YGE) announced it has signed three polysilicon contracts with a leading polysilicon manufacturer to produce over 40 MW of PV modules over the life of the contracts.

Last night, Corning Incorporated (NYSE: GLW) completed expansion of its clean-air products facility, Corning Shanghai Company, Ltd. in Shanghai, China. The additional capacity will help Corning to increase its manufacturing capabilities to meet anticipated local and global demand for advanced ceramic substrates for light-duty vehicle applications.

Yesterday, Hoku Scientific (NASDAQ:HOKU) rose sharply by 38% after signing a Phase II $306 million polysilicon supply pact spread over 8-years with Solarfun (NASDAQ:SOLF).

It’s been a while, but Honda Motors (NYSE:HMC) has gotten a significant amount of attention after the announced launch of the Fuel Cell car, its FCX Clarity.  We gave a review of how investors should view this with an explanation as to why.  It’s definitely a different take than you’d expect and we show the others in the sector too.

In another note, we recently featured Capstone Turbine (NASDAQ:CPST) on our “10 Stocks Under $10” subscriber letter.  We feel the aggressive target where Lazard Capital Markets called for it to essentially double may end up being quite conservative.

Jon C. Ogg
November 27, 2008

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As a reminder, whether you prefer the term “Global Warming” or “Climate Change” is not the issue as far as 24/7 Wall St. covers it. Green business has become big business, and this affects many public companies today.

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