Tuesday, December 6 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Dec 05
Week of Nov 28
Week of Nov 21
Week of Nov 14
Week of Nov 07
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    United States Renewable Energy 28 Sep 22 - INDUSTRY SNAPSHOTS


    September 28, 2022 - Acquisdata Industry Snapshot

     

      LATEST COMPANY NEWS

      PV Tech - Boviet Solar secures 861MW module supply deal in US - 27/9/2022

      Module manufacturer Boviet Solar has secured an 861MW supply agreement with US renewables developer Vesper Energy.

      For the complete story see:

      https://www.pv-tech.org/boviet-solar-secures-861mw-module-supply-deal-in-us/

      PV Tech - Reliance Industries acquires stake in US perovskite solar technology developer - 26/9/2022

      A subsidiary of Indian conglomerate Reliance Industries will invest US$12 million to acquire a 20% stake in Caelux Corporation, a California-based company working on perovskite solar technology.

      For the complete story see:

      https://www.pv-tech.org/reliance-industries-acquires-stake-in-us-perovskite-solar-technology-developer/

      Energy Storage News - US' DFC provides US$25 million for Malawi solar-plus-storage project - 26/9/2022

      The US' International Development Corporation (DFC) has provided a US$25 million loan for a solar-plus-storage project in Malawi with a 5MW/10MWh battery energy storage system (BESS).

      For the complete story see:

      https://www.energy-storage.news/us-dfc-provides-us25-million-for-malawi-...

      Other Stories

      reNEWS - Enfinity Global acquires 400MW of US solar plants - 26/9/2022

      Saur Energy International - USA's CPS Energy Purchases 180 MW Of Solar Power from KARE - 26/9/2022

      Solar Power World - Electrolux solar panels to enter U.S. market through Aionrise distribution - 23/9/2022

      reNEWS - US Bill 'will 'accelerate critical grid permitting' - 22/9/2022

      PV Magazine USA - U.S. startup unveils 5 kW solar canopy for EV charging - 21/9/2022

      Media Releases

      Ballard Power Systems (NASDAQ: BLDP) - Ballard inks contract with Stadler to supply fuel cell engines to power first hydrogen train in United States - 26/9/2022

      Ascent Solar Technologies, Inc (OTCMKTS: ASTI) - Ascent Solar Announces Board and Executive Leadership Transition - 23/9/2022

      Green Plains (Renewable Energy) Inc - Green Plains Announces Executive Leadership Appointments - 22/9/2022

      Latest Research

      Modeling wind energy development barriers: implications for promoting green energy sector - By Jinyang Cai, Munir Ahmad, Muhammad Irfan, Irfan Khan, Asif Razzaq

      Industry Overview

      United States Renewable Energy Industry

      Overviews of Leading Companies

      Ascent Solar Technologies, Inc (OTCMKTS: ASTI)

      Alto Ingredients Inc . (NASDAQ: ALTO) formerly Pacific Ethanol (NASDAQ: PEIX)

      Ballard Power Systems (NASDAQ: BLDP)

      Brookfield Renewable Energy Partners LP (NYSE: BEP)

      Enphase Energy (NASDAQ: ENPH)

      First Solar Holding, LLC (NASDAQ: FSLR)

      Green Plains (Renewable Energy) Inc (NASDAQ: GPRE)

      Mass Megawatts Wind Power, Inc. (OTCMKTS: MMMW)

      Ocean Power Technologies, Inc (NASDAQ: OPTT)

      Ormat Technologies Inc. (NYSE: ORA)

      ReneSola, Ltd (NYSE: SOL)

      Sunworks Inc (NASDAQ: SUNW)

      SunPower Corporation (NASDAQ: SPWR)

      Sunrun (NASDAQ: RUN)

      Associate: Danny Cliffson Crispin Benos

      # Are you MIFID II ready? You might like to talk to Acquisdata about our Bespoke Research offering. www.acquisdata.com/bespoke-research #

      # Acquisdata is proud to be hosting a league on Estimize. Want the opportunity to win free subscriptions? Then join the Acquisdata Media and Telecommunications League at:

      https://www.estimize.com/leagues/acquisdata-media-and-telecommunications #

      News and Commentary

      PV Tech - Boviet Solar secures 861MW module supply deal in US - 27/9/2022

      Module manufacturer Boviet Solar has secured an 861MW supply agreement with US renewables developer Vesper Energy.

      For the complete story see:

      https://www.pv-tech.org/boviet-solar-secures-861mw-module-supply-deal-in-us/

      PV Tech - Reliance Industries acquires stake in US perovskite solar technology developer - 26/9/2022

      A subsidiary of Indian conglomerate Reliance Industries will invest US$12 million to acquire a 20% stake in Caelux Corporation, a California-based company working on perovskite solar technology.

      For the complete story see:

      https://www.pv-tech.org/reliance-industries-acquires-stake-in-us-perovskite-solar-technology-developer/

      Energy Storage News - US' DFC provides US$25 million for Malawi solar-plus-storage project - 26/9/2022

      The US' International Development Corporation (DFC) has provided a US$25 million loan for a solar-plus-storage project in Malawi with a 5MW/10MWh battery energy storage system (BESS).

      For the complete story see:

      https://www.energy-storage.news/us-dfc-provides-us25-million-for-malawi-...

      reNEWS - Enfinity Global acquires 400MW of US solar plants - 26/9/2022

      Enfinity Global has acquired a 400MW utility-scale solar portfolio in the US, consisting of 28 operational solar PV power plants in California, North Carolina and Idaho.

      For the complete story see:

      https://renews.biz/80697/enfinity-global-acquires-400mw-of-us-solar-plants/

      Saur Energy International - USA's CPS Energy Purchases 180 MW Of Solar Power from KARE - 26/9/2022

      CPS Energy, has announced that it has signed an agreement with Kenlov Ashtrom Renewable Energy (KARE) for the purchase of 180 MW of solar energy.

      For the complete story see:

      https://www.saurenergy.com/solar-energy-news/cps-energy-purchases-180-mw-of-solar-power-from-kare

      Solar Power World - Electrolux solar panels to enter U.S. market through Aionrise distribution - 23/9/2022

      Solar Solutions Group, official licensee of Electrolux-branded solar products, has established a distribution relationship with Aionrise, in which Aionrise will manufacturer Electrolux solar panels for the North American market.

      For the complete story see:

      https://www.solarpowerworldonline.com/2022/09/electrolux-solar-panels-to-enter-u-s-market-through-aionrise-distribution/

      reNEWS - US Bill 'will 'accelerate critical grid permitting' - 22/9/2022

      The US renewables industry has welcomed a new Bill that aims to speed up permitting for electrical infrastructure.

      For the complete story see:

      https://renews.biz/80608/us-bill-will-accelerate-critical-grid-permitting/

      PV Magazine USA - U.S. startup unveils 5 kW solar canopy for EV charging - 21/9/2022

      California-based Paired Power has unveiled a 5-kW solar canopy with built-in EV charging capabilities.

      For the complete story see:

      https://pv-magazine-usa.com/2022/09/21/u-s-startup-unveils-5-kw-solar-canopy-for-ev-charging/

      https://www.facebook.com/acquisdata/

      Media Releases

      Ballard Power Systems (NASDAQ: BLDP) - Ballard inks contract with Stadler to supply fuel cell engines to power first hydrogen train in United States - 26/9/2022

      VANCOUVER, CANADA and BUSSNANG, SWITZERLAND - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced an order from Stadler Rail AG ("Stadler"; www.stadlerrail.com), a leading manufacturer of rolling stock, for the supply of six 100 kW FCmoveTM-HD+ fuel cell engines to power the first hydrogen train in the United States.

      The contract to provide the hydrogen-powered train was awarded to Stadler by San Bernardino County Transportation Authority (SBCTA), with the option of additional trains in the future. The train is expected to be in service in San Bernardino, California in 2024 and will seat over 100 passengers.

      "We continue to see the critical role hydrogen will play in decarbonizing our economy. We are excited to work with Stadler, a global industry leader in rail manufacturing, to reduce emissions in the transportation sector and bring the first hydrogen powered, zero emission passenger train to the United States," said Randy MacEwen, Ballard CEO.

      Martin Ritter, CEO of Stadler US commented, "Stadler is committed to designing and building green technology for the transportation industry. We are delighted to work alongside innovative organizations, like SBCTA and Ballard, that share our enthusiasm to reduce emissions in the sector. It is a great honor to be a part of bringing the first hydrogen-powered train to the United States."

      https://www.ballard.com/about-ballard/newsroom/news-releases/2022/09/26/ballard-inks-contract-with-stadler-to-supply-fuel-cell-engines-to-power-first-hydrogen-train-in-united-states

      Ascent Solar Technologies, Inc (OTCMKTS: ASTI) - Ascent Solar Announces Board and Executive Leadership Transition - 23/9/2022

      THORNTON, CO, Sept. 23, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire - Ascent Solar Technologies, Inc. ("Ascent Solar", "Ascent" or the "Company") (NASDAQ: ASTI), a developer and manufacturer of state-of-the-art, lightweight, flexible thin-film photovoltaic (PV) solutions, today announced a transition of its leadership at the board and executive levels.

      Four new directors have been appointed to the Company's Board of Directors: Louis Berezovsky, Mike French, Felix T. Mantke, and Forest Reynolds. These directors will serve as part of the new leadership team that will help guide the Company in its efforts to develop long-term revenue and business opportunities, as Ascent continues its transition as a newly listed company on Nasdaq.

      As part of the board transition, four previous directors (Amit Kumar, Kim J. Huntley, Will A. Clarke and Victor Lee) agreed to resign from the board. David Peterson continues as a member of the board and has been appointed board chair.

      In addition, Victor Lee has resigned as the Company's CEO. The Company has commenced a search for a new CEO and expects to make an announcement about new executive leadership in the near future.

      David Peterson, board chair, stated, "We very much appreciate the work and stewardship of our departing directors and CEO. Their efforts have sustained the Company through some very difficult financial and operating conditions. Our recent listing on Nasdaq in August was a major accomplishment that would not have been possible without the efforts of Victor, Amit, Kim and Will."

      Information on our new directors:

      Louis Berezovsky currently leads the Finance and Accounting, M&A, Human Resources, Legal and IT functions at Eagle Infrastructure Services. Mr. Berezovsky has over 25 years of experience in senior financial management positions across a variety of industries, including private equity sponsored portfolio companies. His accomplishments include the completion of more than 60 acquisitions, as well as multiple recapitalizations and successful sale processes. Mr. Berezovsky, who has served as the Chairman of the Finance Committee for the Better Business Bureau of Minnesota and North Dakota, received his B.S. in Accounting from the University of Minnesota, Carlson School of Management, and is a Certified Management Accountant (CMA).

      Mike French is currently the Vice President of Space Systems at the Aerospace Industries Association, where he advocates for policies, regulations, and investments that build strong industry partnerships across the civil, commercial, and national security sectors. Mr. French's experience in the space industry includes developing market forecasts and assessments for space industry executives and analyzing major space investments for companies and banks. He served as NASA's Chief of Staff, where he advised the NASA Administrator, the White House, and various government leaders on national space policy issues. Mr. French holds a Bachelor of Science in business administration from the Haas School of Business at the University of California, Berkeley, and a J.D. from Harvard Law School.

      Felix T. Mantke is currently the CFO at TubeSolar AG, which is an investor in and customer of Ascent Solar. He has more than 20 years of professional experience in the fields of accounting, controlling and auditing and has particular expertise in the areas of M&A and capital markets. Prior to joining TubeSolar in 2022, Mr. Mantke spent five years working at Deloitte in Germany. Prior to that, he was the Managing Director at Flick Gocke Schaumburg in Munich, after having worked at BDO AG in Frankfurt. At the beginning of his career, Mr. Mantke held various positions at EY in Berlin, Boston, Moscow and Munich and moved to H.C. Stark GmbH in 2012 as Head of Group Accounting/Capital Markets.

      Forrest Reynolds has over 28 years of business and management experience and is currently the Managing Partner of CalTex Capital, LLC, a privately held investment firm, as well as a Managing Director of The Vortex Group Family Office, LLC, a private family office, both of which are based in Texas. Previously, Mr. Reynolds served as the Chief Restructuring Officer for Centaur Gaming, LLC, a gaming development company located in Indianapolis Indiana. In this capacity, Mr. Reynolds managed a $1 billion Chapter 11 bankruptcy reorganization for the company. Prior to that, Mr. Reynolds worked in the investment banking industry for over 14 years, holding various positions with several multinational investment banks including Credit Suisse, BT Alex Brown (later Deutsche Bank) and UBS. Mr. Reynolds sits on the board of several private companies and is actively involved with several charitable organizations. Mr. Reynolds graduated from The University of Texas at Austin where he received a B.B.A. in Finance and a B.A. in Economics.

      https://www.globenewswire.com/news-release/2022/09/23/2521654/0/en/Ascent-Solar-Announces-Board-and-Executive-Leadership-Transition.html

      Green Plains (Renewable Energy) Inc - Green Plains Announces Executive Leadership Appointments - 22/9/2022

      OMAHA, Neb., Sept. 22, 2022 (GLOBE NEWSWIRE) -- Green Plains Inc. (NASDAQ: GPRE) today announced changes to its executive leadership team. Patrich Simpkins transitions from Chief Financial Officer to Chief Transformation Officer, Jim Stark transitions from Executive Vice President to Chief Financial Officer of Green Plains and Green Plains Partners LP (NASDAQ: GPP), Jamie Herbert joins the company as Chief Human Resources Officer, and Grant Kadavy joins the company as Executive Vice President of Commercial Operations.

      Patrich Simpkins will develop and lead the Office of Transformation as the Chief Transformation Officer, executing on a roadmap to accomplish the most comprehensive organizational transformation in the history of the company. Mr. Simpkins has served as Chief Financial Officer since 2019, having previously served as Chief Development Officer from 2014 until 2019, and as Chief Risk Officer from 2014 through 2016. Prior to joining Green Plains in 2012, Mr. Simpkins held senior management positions with SensorLogic, Inc., TXU Corporation, Duke Energy Corporation, and Louis Dreyfus Energy.

      "Patrich has developed and led a strong Finance and Accounting team, raising capital, refinancing debt and putting the company on a strong financial footing, and is now ready to devote his full efforts to our comprehensive transformation already underway," said Todd Becker, President and Chief Executive Officer. "His depth of knowledge across numerous disciplines, track record of integration successes and understanding of cross-departmental functions make him the clear choice to lead this crucial new department."

      Jim Stark, Chief Financial Officer, will lead all aspects of finance and accounting, including IT and Investor Relations. Mr. Stark rejoined Green Plains in January 2022 after serving as Vice President, Investor Relations at Darling Ingredients Inc. since 2019. Prior to that, Mr. Stark led Investor Relations and Media Relations at Green Plains for over 10 years.

      "Jim has the experience, credibility, and expertise to lead a seamless transition as he continues to execute on the plan that Patrich and the team have laid out, supporting the overall transformation of Green Plains," added Becker. "Our stakeholders should have comfort in the fact that Jim can immediately step into this role without losing critical transition time and energy, and can make an immediate impact as we continue to build a finance organization that supports everything we need to be successful over the coming years."

      Jamie Herbert, Chief Human Resources Officer, will lead all human resource activities, which include developing cross-functional leadership, driving alignment across the organization, creating sustainable work practices, acquiring talent, and ensuring Green Plains continues to create and develop a world-class team of HR professionals. Mr. Herbert comes from Capstone IT where he led financial, marketing, human resources, legal, compliance, and operational support practices. Prior to that, he held several positions at Union Pacific Railroad in human resources and operations.

      Grant Kadavy, Executive Vice President of Commercial Operations, will lead all commercial activities, including sales, trading and distribution, across all platforms. Mr. Kadavy, held various executive positions at Darigold, including Chief Growth and Risk Officer, Chief Operating Officer and Chief Commercial Officer, between 2016 and 2022. Prior to that, he spent almost 20 years with Cargill in various leadership positions including President of Cargill Americas and General Director of Cargill Mexico.

      "Jamie and Grant bring decades of expertise to Green Plains and shows how our transformation continues to attract talented leaders that bring invaluable knowledge in their respective fields to help us execute against our strategic pillars," said Becker. "Jamie has led the acquisition and development of diverse talent, and enhanced service and productivity improvement while positioning his companies for long-term growth. Grant is a transformative leader with a track record of delivering sustainable results while leading high-performing teams. He will be critical to our efforts as we open new marketing opportunities for high-protein ingredients, low-carbon renewable corn oil feedstocks and clean sugar, along with our decarbonization efforts."

      Mr. Simpkins and Mr. Stark will transition into their new roles Oct. 1. Mr. Kadavy and Mr. Herbert will join Green Plains in early October.

      https://investor.gpreinc.com/news-releases/news-release-details/green-plains-announces-executive-leadership-appointments-0

      # Acquisdata: Up to date business intelligence reports covering developments in the world's fastest growing industries #

      # Reportal: a vast archive of corporate documents from listed companies around the world #

      Latest Research

      Modeling wind energy development barriers: implications for promoting green energy sector

      Jinyang Cai, Munir Ahmad, Muhammad Irfan, Irfan Khan, Asif Razzaq

      Abstract

      Since a variety of barriers pose challenges to the Indian wind energy sector, the extent to which these barriers hamper this sector and the alternative solutions are largely unknown. We identify several barriers using existing literature, and then using the modified Delphi approach, refine 25 barriers and classify them into five significant dimensions. Later, the Analytical Hierarchical Process determined the ranking of barriers using pairwise comparison matrices. The Grey Technique for Order Preference by Similarity to Ideal Solution method ranked alternative solutions to these barriers. Results indicate that "financial barrier" is the most important barrier among all dimensions, while "limited government subsidy" is most influential among all sub-barriers. "Availability of adequate funds" is the best alternative to overcome these barriers. Finally, a sensitivity analysis is performed to validate the study findings. The study findings may assist practitioners and policymakers in boosting the current sluggish growth of the Indian wind sector.

      https://www.tandfonline.com/doi/abs/10.1080/15567249.2022.2118403

      The Industry

      Latest Publish date: May 2022

      Renewable electricity capacity additions broke another record in 2021 and biofuels demand almost recovered to pre-Covid levels, despite the continuation of logistical challenges and increasing prices. However, the Russian Federation's (hereafter, "Russia") invasion of Ukraine is sending shock waves through energy and agriculture markets, resulting in an unprecedented global energy crisis. In many countries, governments are trying to shelter consumers from higher energy prices, reduce dependence on Russian supplies and are proposing policies to accelerate the transition to clean energy technologies.

      Renewable energy has great potential to reduce prices and dependence on fossil fuels in short and long term. Although costs for new solar PV and wind installations have increased, reversing a decade-long cost reduction trend, natural gas, oil and coal prices have risen much faster, therefore actually further improving the competitiveness of renewable electricity. However, how rapidly renewables can substitute fossil fuels hinges on several uncertainties and will depend on many factors. Will renewable electricity sources defy this global energy crisis and continue to expand quickly despite emerging political and macroeconomic challenges? At the same time, growth in biofuels demand faces significant headwinds from both lower transport demand growth and high biofuel prices. Will demand growth resume at historical rates?

      In exploring the most recent market and policy developments as of April 2022, our Renewable Energy Market Update forecasts new global renewable power capacity additions and biofuel demand for 2022 and 2023. It also discusses key uncertainties and policy-related implications that may affect projections for 2023 and beyond.

      https://www.iea.org/reports/renewable-energy-market-update-may-2022

      Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation.

      Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil.

      Types of Renewable Energy

      Renewable energy sources, such as biomass, geothermal resources, sunlight, water, and wind, are natural resources that can be converted into these types of clean, usable energy:

      Bioenergy

      Geothermal Energy

      Hydrogen

      Hydropower

      Marine Energy

      Solar Energy

      Wind Energy

      Benefits of Renewable Energy

      The advantages of renewable energy are numerous and affect the economy, environment, national security, and human health. Here are some of the benefits of using renewable energy in the United States:

      Enhanced reliability, security, and resilience of the nation's power grid

      Job creation throughout renewable energy industries

      Reduced carbon emissions and air pollution from energy production

      Increased U.S. energy independence

      Increased affordability, as many types of renewable energy are cost-competitive with traditional energy sources

      Expanded clean energy access for non-grid-connected or remote, coastal, or islanded communities.

      Renewable Energy in the United States

      Renewable energy generates about 20% of all U.S. electricity, and that percentage continues to grow. The following graphic breaks down the shares of total electricity production in 2021 among the types of renewable power:

      In 2022, solar and wind are expected to add more than 60% of the utility-scale generating capacity to the U.S. power grid (46% from solar, 17% from wind).

      The United States is a resource-rich country with abundant renewable energy resources. The amount available is 100 times that of the nation's annual electricity need.

      https://www.energy.gov/eere/renewable-energy

      # Acquisdata: Up to date business intelligence reports covering developments in the world's fastest growing industries #

      # Reportal: a vast archive of corporate documents from listed companies around the world #

      Leading Companies

      Ascent Solar Technologies, Inc. (OTCMKTS : ASTI)

      After two decades of research and development, Ascent Solar was formed in 2005, to commercialize leading-edge CIGS photovoltaic technology on flexible, plastic substrate. Ascent's unique monolithic integration process enables the highest level of efficiency, durability & weight savings representing the potential to transform the way solar power can be used in everyday life. Ascent Solar's Research and Development and its 30 MW nameplate production facility is in Thornton, Colorado.

      By pioneering a technology that is recognized as the future of the solar industry, Ascent has cemented itself as the leader in the manufacturing of innovative, high performance, flexible thin-film solar panels for both existing and emerging defense, consumer electronic, space, and aerospace applications.

      Ascent's results-oriented team is focused on continued technical innovation while effectively developing current market opportunities and enabling customers to create transformational applications using solar power.

      https://www.ascentsolar.com/ir-company-overview.html

      15 August 2022

      Ascent Solar Completes Delivery of Another Major Contract and Announces Improved Second Quarter and First Six-Months Financial Results for 2022

      THORNTON, CO, Aug. 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire - Ascent Solar Technologies, Inc. ("Ascent Solar" or the "Company") (OTCMKTS: ASTI), a developer and manufacturer of state-of-the-art, lightweight, flexible thin-film photovoltaic (PV) solutions, reported results for the quarter and first six-months ended June 30, 2022.

      Financial & Operational Highlights:

      The Company successfully delivered on a major contract in June 2022 for its HyperLight thin-film modules designed for high altitude platform (HAP) applications. This shipment represents the third generation of the HyperLight PV module that further reduces packaging and module weight, achieving best-in-class Specific Power (power-to-weight ratio) of over 350 W/kg (Watts per kilogram) for a fully laminated product on an airship, while streamlining the customer's operations to integrate the modules onto the airship. The contract was the fourth repeat order from the same customer, a developer of the world's most advanced unmanned, helium-filled airships that operate in the stratosphere at an altitude greater than 60,000 feet above sea level.

      Boosted by the large contract delivery, net revenue for the second quarter of 2022 increased by approximately 68%, from $0.38M in the corresponding quarter in 2021 to $0.64M. For the first six-months ended June 30, 2022, net revenue more than doubled from $0.55M in the corresponding period in 2021 to $1.2M, or a 121% increase for the first half of 2022. Net revenue for the first half of 2022 has also surpassed the full year revenue of $0.61M in 2021 by a significant margin, paving the way for more than a two- fold increase in revenue for 2022.

      Costs and expenses increased 62% to $5.7M in the first half of 2022 compared to $3.5M in the corresponding half-year period last year, in line with the company's increasing operating activities. The Company continues to expand operations to lay the foundation for future success. Loss from operations for the first six-months of 2022 was $4.5M, or a 51% increase from the same period in the prior year.

      Net loss for the first six-months ended June 30, 2022 was $6.6M, which included a substantial non-cash interest expense of approximately $2.1M, booked as a result of the conversion of $9.2M of zero-coupon convertible notes.

      Cash and cash equivalents as of June 30, 2022 was $0.43M. The Company continues to reduce its total liabilities, seeing an improvement of $6.7M, down from $15.7M for the year ended December 31, 2021, to $9M at the close of this reporting period.

      Subsequent to June 30, 2022, the Company entered into a Securities Purchase Agreement (SPA) on August 8, 2022 with an investment fund for a $5M private placement of its equity at a fixed price of $5.30 for (i) one common share and (ii) 1.5 common warrants, exercisable only in cash at a fixed exercise price of $5.30 per common share. Please refer to the Company's 8-K filing with the SEC on August 8, 2022 for more details.

      Management Comments:

      "I am extremely pleased with the progress of the company, both financially and operationally." said Mr. Victor Lee, President and CEO of Ascent Solar Technologies, Inc. "After being dormant for most of 2020, we began rebuilding and ramping up operations in October 2020. Despite setbacks caused by various challenges including limited financial resources and the ongoing impact of COVID-19, the Ascent team has demonstrated great resiliency in getting back to regular production mode. The company is now fully operational and stands ready to build on the strength of what we have achieved in the first six-months of 2022. We will continue to deliver improved results going forward," continued Mr. Lee.

      Mr. Lee concluded, "The emergence and fast-growth of the space-based economy in recent years as well as the ever-increasing demand in mobility power and clean energy, align well with our unique value proposition and ambitions. The Company has made significant progress in the high-value space and near-space markets, and will continue to focus in such areas where Ascent is truly at the forefront of the competition. Most notably, Ascent's thin-film modules were selected and launched by NASA Marshall Space Flight Center to the International Space Station (November 17, 2018) as part of the MISSE-X flight experiment, and were recognized for its exceptional device stability during the space flight experiments and also received the Innovation Award at the Defense TechConnect Conference in September 2021. The Company was also selected by NASA for further participation in two upcoming flight demonstrations - the LISA-T (Lightweight Integrated Solar Array and anTenna) project and the Solar Cruiser solar sail project slated for launch in 2023. Other notable milestones include our continuous development effort with JAXA (Japan Aerospace Exploration Agency)'s SolarPowerSail project utilizing Ascent's superlight thin-film modules, as well as multiple other private companies' selection of our PV technology for further testing and evaluation for deep space or near-space missions. We are optimistic and certainly look forward to stronger years ahead, as we begin to execute our focused strategy in this premium PV market."

      https://www.globenewswire.com/news-release/2022/08/15/2498019/0/en/Ascen...

      Alto Ingredients Inc. (NASDAQ: ALTO) formerly Pacific Ethanol (NASDAQ: PEIX)

      Founded in 2003, Alto Ingredients, Inc. is proud to be a leading producer of a wide range of premium products, which our customers incorporate into a myriad of vital finished goods that touch people's lives, from cleaning solutions to pharmaceuticals.

      Exploring new ways to capitalize on our unique capability

      We are continually exploring new ways to capitalize on our unique capability to manufacture high-grade alcohols for the food, beverage, health, and ingredients markets, and process corn into high protein feed, pet food, and renewable fuel.

      Our values are rooted deep within the foundation of our company. Our ethos is built on trust, and an unwavering commitment to our employees, investors, partners, consumers, and the planet we all share. From integrating innovative practices at our facilities that ensure optimal efficiency to contributing to a lower carbon footprint with our ethanol fuel to giving back to the community through food drives and participation in charitable organizations, Alto has — and always will — represent responsibility, honesty, and a commitment to quality.

      https://www.altoingredients.com/company/

      8 August 2022

      Alto Ingredients, Inc. Reports Second Quarter 2022 Results

      Grew Net Sales to $362.2 Million, Up 21% from Q2 2021

      Generated Net Income of $21.5 Million, $0.29 per Diluted Share, Up from $8.0 Million, $0.11 per Diluted Share in Q2 2021

      Increased Adjusted EBITDA to $29.9 Million, Up from $17.0 Million in Q2 2021

      SACRAMENTO, Calif., Aug. 08, 2022 (GLOBE NEWSWIRE) -- Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols and essential ingredients, reported its financial results for the quarter ended June 30, 2022.

      "Our strategy to diversify into specialty alcohols and essential ingredients continues to serve us well. Sales of these products, combined with a cash grant from the USDA, delivered solid performance and offset higher than usual freight expenses and repair and maintenance costs, resulting in positive gross profit, net income and Adjusted EBITDA in the second quarter," said Mike Kandris, CEO of Alto Ingredients. "Anticipating the cash grant, we accelerated the timing of some of our infrastructure improvements. We are upgrading equipment and operating systems to increase efficiency and plant reliability, expanding our corn storage capacity, enhancing our specialty alcohol production and broadening its distribution, and reinvesting in essential ingredients capabilities. Building for the future, we are improving our position to capture a variety of opportunities, and our near- and long-term outlook is promising."

      Financial Results for the Three Months Ended June 30, 2022 Compared to 2021

      Net sales were $362.2 million, compared to $298.1 million.

      Cost of goods sold was $353.3 million, compared to $282.9 million.

      Gross profit was $8.8 million, compared to $15.2 million.

      Selling, general and administrative expenses were $9.0 million, compared to $7.2 million, reflecting Eagle Alcohol acquisition-related expenses and higher stock-compensation expenses

      Income from a cash grant from the USDA's Biofuel Producer Program was $22.7 million.

      Net income available to common stockholders was $21.5 million, or $0.29 per diluted share, compared to $8.0 million, or $0.11 per diluted share.

      Adjusted EBITDA was $29.9 million, compared to $17.0 million.

      Cash and cash equivalents were $57.4 million at June 30, 2022, compared to $50.6 million at December 31, 2021.

      Working capital was $178.4 million at June 30, 2022, compared to $159.9 million at December 31, 2021.

      For full release see:

      https://ir.altoingredients.com/news-events/press-releases/detail/594/alto-ingredients-inc-reports-second-quarter-2022-results

      Ballard Power Systems (NASDAQ: BLDP)

      Zero emission fuel cell vehicles will positively change the lives of the next generation. By relentlessly developing and improving our technology, we will make a real difference. This makes us extremely proud to work at Ballard.

      Our Vision:

      We deliver fuel cell power for a sustainable planet.

      Our Mission:

      We use our fuel cell expertise to deliver valuable and innovative solutions to our customers globally, create rewarding opportunities for our team, provide extraordinary value to our shareholders and power the hydrogen society.

      Our Values:

      Listen and Deliver - We listen to our customers, understand their business and deliver valuable and innovative solutions for lasting partnerships.

      Quality Always -We deliver quality in everything we do

      Inspire Excellence - We live with integrity, passion, urgency, agility and humility.

      Row Together - We achieve success through respect, trust and collaboration

      Own It - We step up, take ownership for our results and trust others to do the same

      Our Strategy:

      Our business strategy is a two-pronged approach to build shareholder value through the sale and service of power products and the delivery of technology solutions.

      In Power Product sales, our focus is on meeting the power needs of our customers by delivering high value, high reliability, high quality and clean energy power products that reduce customer costs and risks.

      Through Technology Solutions, our focus is on enabling our customers to solve their technical and business challenges and accelerate their fuel cell programs by delivering customized, high value, bundled technology solutions.

      https://www.ballard.com/about-ballard/our-vision

      10 August 2022

      Ballard Reports Q2 2022 Results

      VANCOUVER, CANADA - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced consolidated financial results for the second quarter ended June 30, 2022. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS).

      "We continue to see policy momentum across the globe to support our vision of decreasing our planet's emissions. We believe our product offering will make a meaningful impact on the energy transition by enabling our customers with zero emission solutions. This vision is at the forefront of our continued innovation and investment in our business and product offering", said Mr. Randy MacEwen, President and CEO.

      Mr. MacEwen remarked, "In the second quarter, our revenue was $20.9 million, and we secured new orders totaling $12.3 million, driven primarily by stationary power generation and repeat bus customers. We saw continued gross margin compression in the quarter and anticipate continued pressure throughout 2022, but we are confident in our plan to expand margins in the mid- to long-term as we transition to commercial scale production. We ended the quarter with a strong cash balance of $1 billion, which continues to support our technology development programs and other strategic growth initiatives."

      "We are encouraged by our continued progress with platform customers as they advance commercialization of zero-emissions fuel cell solutions in a variety of attractive applications and markets. The European bus market is an example of the growing scale of fuel-cell solutions, with public transport operators in Cologne, Germany and West Midlands, UK announcing plans to deploy additional hydrogen fuel cell bus fleets of 100 and over 120, respectively."

      "Given the challenging macro-economic outlook, we have decreased our planned investments in 2022. As a result, we are revising our total operating expense and capital expenditure guidance downwards from $140 to $160 million to $130 to $150 million, and $40 to $60 million to $30 to $50 million, respectively," Mr. MacEwen stated. "Notwithstanding the current macro-economic context, we remain confident on the long-term opportunities for hydrogen and fuel cells. We see converging trends driving the energy transition, including net-zero ambitions, low-cost renewable energy, and energy security. At Ballard, we are well positioned with leading fuel cell technology, strong customer and partner relationships, and a solid balance sheet."

      Q2 2022 Financial Highlights

      (all comparisons are to Q2 2021 unless otherwise noted)

      Total revenue was $20.9 million in the quarter, down 16% year-over-year.

      Power Products revenue of $13.5 million decreased 14%, driven by lower shipments of fuel cell products.

      Heavy-Duty revenues of $10.7 million decreased by a nominal amount.

      Stationary Power Generation revenues of $2.0 million decreased 28% as a result of lower sales of stationary power generation fuel cell modules, stacks, products and service revenues.

      Material Handling revenues of $0.8 million decreased 58%, primarily as a result of lower shipments to Plug Power.

      Technology Solutions revenue of $7.4 million decreased 20% due primarily to decreased amounts earned on the Weichai Ballard JV and Audi programs.

      Gross margin was (11)% in the quarter, a decrease of 26-points, driven by a combination of a shift to lower overall product margin and service revenue mix including the impacts of pricing strategy, higher fixed overhead costs, higher warranty provisions and adjustments, increase in supply costs, and inventory adjustments.

      Total Operating Expenses and Cash Operating Costs3 were $38.5 million and $32.1 million in the quarter, respectively, an increase of 58% and 59%, respectively. Increases were driven primarily by higher expenditure on research, technology and product development activities. Costs were also higher as a result of increased general and administrative expenses.

      Adjusted EBITDA3 was ($35.0) million, compared to ($19.7) million in Q2 2021, primarily a result of the decrease in gross margin and increase in Cash Operating Costs.

      Ballard received approximately $12.3 million of new orders in Q2, and delivered orders valued at $20.9 million, resulting in an Order Backlog of approximately $91.2 million at end-Q2.

      The 12-month Order Book was $61.4 million at end-Q2, a decrease of $4.3 million from the end of Q1 2022.

      For full release see:

      https://www.ballard.com/about-ballard/newsroom/news-releases/2022/08/10/ballard-reports-q2-2022-results

      Brookfield Renewable Energy Partners LP (NYSE: BEP)

      Brookfield Renewable Energy Partners LP are one of the world's largest investors in renewable power, with 18,100 megawatts of generating capacity. Our assets, located in North and South America, Europe, India and China, comprised a diverse technology base of hydro, wind, utility-scale solar, distributed generation, storage and other renewable technologies.

      We utilize our fully integrated global operating platform and in-house expertise to maintain facilities, organically add value and efficiently integrate new assets, realizing cost synergies in the process. Our business is underpinned by stable cash flows, with the majority of our power contracted under long-term, inflation-linked contracts.

      Renewable power for a cleaner, brighter tomorrow

      The TerraForm companies strengthen Brookfield's position as a global leader in renewable power, adding significant wind and solar assets as well as operating platforms in India and China.

      Renewable Power sectors

      Our hydro power assets are characterized by a perpetual asset life, high cash margins, and storage capacity.

      Isagen — In 2016, we acquired Colombia's third-largest power generation portfolio, based primarily on hydro and accounting for roughly 20% of the country's generation, with 3,000 megawatts of capacity. This investment was possible because of our ability to be patient over a lengthy sale process, along with our underwriting capabilities and hydro expertise.

      Invest with Brookfield

      Our pure-play global renewables portfolio is available to investors through our publicly listed vehicle, Brookfield Renewable Partners. Investors can also participate in the growth of our assets through our private funds.

      https://www.brookfield.com/our-businesses/renewable-power

      5 August 2022

      Brookfield Renewable Announces Strong Second Quarter Results

      BROOKFIELD, News, Aug. 05, 2022 (GLOBE NEWSWIRE) -- Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) ("Brookfield Renewable Partners", "BEP") today reported financial results for the three and six months ended June 30, 2022.

      "The business performed well this quarter, as we delivered strong financial results, commissioned 1,000 megawatts of development, and deployed and committed $3 billion into growth initiatives," said Connor Teskey, CEO of Brookfield Renewable. "Given the depth of our operating capabilities, globally diverse asset base, and strong access to capital, we are well positioned in all market environments to be a partner of choice in helping governments and businesses achieve their goals of low-cost energy, net-zero, and energy security."

      Financial Results Millions (except per unit or otherwise noted) For the three months ended June 30 For the six months ended June 30 Unaudited 2022 2021 2022 2021 Select Financial Information Net income (loss) attributable to Unitholders $ 1 $ (63) $ (77) (196) Per LP unit (1) (0.03) (0.13) (0.19) (0.37) Funds From Operations (FFO) (2) 294 268 537 510 Per Unit (2)(3) 0.46 0.42 0.83 0.79

      Brookfield Renewable reported FFO of $294 million or $0.46 per Unit for the three months ended June 30, 2022, a 10% increase on a per Unit basis over the same period in the prior year. After deducting non-cash depreciation, our Net income attributable to Unitholders for the three months ended June 30, 2022 was $1 million.

      Highlights

      We closed or agreed to invest $3 billion ($650 million net to Brookfield Renewable) of capital across various transactions and regions.

      We advanced key commercial priorities, securing contracts to deliver an incremental 3,000,000-megawatt hours of clean energy annually including 600,000 megawatt hours to corporate offtakers. This includes securing a contract to provide clean energy to one of BASF's largest production facilities globally.

      We continued to accelerate our development activities, commissioning approximately 1,000 megawatts of new projects. These are expected to contribute approximately $11 million of FFO annually to Brookfield Renewable. We also continue to execute on our 17,000-megawatt under-construction and advanced-stage pipeline and have expanded our development pipeline to 75,000 megawatts and approximately 8 million metric tons per annum of carbon capture and storage ("CCS").

      We are advancing approximately $560 million ($90 million net to Brookfield Renewable) of asset recycling activities and continue to maintain robust financial capacity with $4 billion of available liquidity, no material near-term maturities, and limited floating interest rate exposure.

      Growth Initiatives

      So far this year, we have deployed or agreed to deploy $4.5 billion ($1 billion net to Brookfield Renewable) of capital across a wide range of investments, including battery storage, carbon capture, distributed generation, and utility-scale wind and solar. To date, our investments into new transition opportunities comprise only a small portion of our capital deployment, but mark entry points into segments that we feel have the potential to grow significantly over time. These investments represent new and incremental growth levers for our business, beyond our continued growth in renewables.

      Our approach to investing in new transition opportunities is similar to how we look at renewable investments. We look for opportunities that are economic without government subsidy, technologically proven, and underpinned by strong macro tailwinds. We focus on situations where our key advantages of access to capital, knowledge of power markets, operating and development capabilities, extensive customer relationships, and global reach can differentiate us as investors and operators. Over time, as more decarbonization products and services scale, we expect transition investments to grow within our portfolio. However, investment in clean power generation remains the largest decarbonization investment opportunity today, and we therefore expect it to represent the majority of our deployment for the foreseeable future.

      Our global distributed generation business continues to be a significant area of growth, as the trends of decentralized power generation and direct customer interaction accelerate. In the past twelve months, we have grown our U.S. distributed generation business by three times to 6,500 megawatts through various organic initiatives. These include our channel partnerships, joint development agreements, and strategic partnerships, like our cooperation agreement with Trane Technologies, which enables us to leverage our respective capabilities to create decarbonization solutions for customers.

      We recently agreed to acquire a leading

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.