Environment Forum

Green Portfolio: Pacific Ethanol plummets

A gas station worker fills a car's tank with ethanol in Rio de Janeiro April 30, 2008. REUTERS/Sergio Moraes

Shares in Pacific Ethanol lost almost half their value in morning trading after the biggest West Coast-based producer and marketer of ethanol announced that it had put its production facilities in California, Oregon and Idaho into Chapter 11 bankruptcy.

The company said on May 12 that it would likely need to file for bankruptcy if it was not able to restructure its debt.

A string of energy firms have filed for Chapter 11 recently, suffering from weak U.S. demand that has depressed prices and margins. VeraSun Energy, once the largest publicly listed U.S. ethanol maker, filed for bankruptcy last year.

(Track and comment on the emerging greentech sector by joining the Reuters Business of Green Portfolio community)

Green Portfolio: Suzlon sizzles and Q-Cells misses

Indian wind turbine maker Suzlon Energy’s shares gained 8 percent on Tuesday, after sources told Reuters that Suzlon’s founders are looking to raise up to $48 million through the sale of a 2 percent stake in the world’s fifth-largest wind turbine maker.

Shares in leading solar cell maker Q-Cells closed the day up 2.39 percent after it reported profits that missed market forecasts and CEO Anton Milner and CFO Hartmut Schüning tried to assuage investor fear over solar project funding.

German solar peer Solon posted a bigger-than-expected first-quarter net loss and echoed Q-Cells’ financing concern.

Introducing the Reuters Global Green Portfolio

As part of Reuters new Green Business section, we have chosen a diverse group of companies to serve as a proxy for the emerging green technology sector. Over the coming months we’ll be discussing each of them at length, and rebalancing our portfolio to reflect trends in the industry.

Click here to see our portfolio in action. You can track our performance against benchmarks, comment on our choices, and create a portfolio of your own.

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Comverge, Inc is one of the leading demand-response companies, known for their role in limiting electricity use during peak demand, employing technology to manage large companies’ power usage and control their costs. Their software can automatically adjust an air conditioner’s temperature or turn off a swimming pool pump when power supplies are tight, reducing prices for suppliers and end users by lowering end user demand at peak times.

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