May 1 (Reuters) – U.S. green car startup Coda Holdings Inc
filed for Chapter 11 bankruptcy protection on Wednesday after
selling just 100 of its all-electric sedans, another example of
battery-powered vehicles’ failure to break into the mass market.
The filing with U.S. Bankruptcy Court in Delaware will allow
the Los Angeles company to exit the auto sector and refocus on
energy storage, a far less capital-intensive business. The
company uses the same technology it used in cars to build
systems for utilities and building operators to store power.
April 10 (Reuters) – First Solar Inc this week cast
itself as a formidable survivor of solar industry turmoil, but
some in the market expressed doubt that the company would be
able to meet aggressive goals for cost reductions, technology
advances and contract wins.
Investors drove the company’s stock down 7.7 percent on
Wednesday as many cashed in on a staggering 45 percent rally the
day before. During a lengthy meeting with analysts, First Solar
on Tuesday forecast profit and revenue far in excess of most
LOS ANGELES (Reuters) – First Solar shares logged their biggest ever one-day jump on Tuesday after the company said revenue and earnings for the next three years would be well above most Wall Street estimates and announced that it would acquire a new solar technology.
Shares were up $12.51, or 46.2 percent, at $39.55 in afternoon trade on the New York Stock Exchange. They hit a high of $41 earlier in the session, a level unseen in more than a year.
LOS ANGELES (Reuters) – Tesla Motors Inc (TSLA.O: Quote, Profile, Research, Stock Buzz) on Tuesday said it was partnering with Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz) and U.S. Bank (USB.N: Quote, Profile, Research, Stock Buzz) on a financing product that it says will make its pricey electric sedan accessible to more people.
Tesla, producer of the first fully electric sports car, said earlier this week it had its first profitable quarter ever in the first quarter thanks to stronger-than-expected sales of its Model S sedan, its second car model which is substantially cheaper than the first.
LOS ANGELES (Reuters) – Truckers considering natural gas as an alternative to high-priced diesel say the cost of vehicles that run on the cheap and cleaner-burning fuel is still too high for them to see a timely payback on their investment.
A push to run more of the nation’s truck fleet on cleaner, domestically produced natural gas is rapidly gaining momentum.
LOS ANGELES, March 22 (Reuters) – U.S. truckers considering
natural gas as an alternative to high-priced diesel say the cost
of vehicles that run on the cheap and cleaner-burning fuel is
still too high for them to see a timely payback on their
A push to run more of the nation’s truck fleet on cleaner,
domestically produced natural gas is rapidly gaining momentum.
LOS ANGELES, March 19 (Reuters) – The Los Angeles Department
of Water and Power, the nation’s largest municipal-owned
utility, will eliminate its reliance on coal-fired power by
2025, the city’s mayor said on Tuesday.
The effort comes as the utility is working to comply with
aggressive California laws aimed at reducing greenhouse gas
emissions to 1990 levels by 2020. The LADWP had said last year
that state law effectively prohibited it from buying coal-fired
generation once its current contracts expire.
LOS ANGELES (Reuters) – ENN Group Co Ltd, one of China’s largest private companies, is quietly rolling out plans to establish a network of natural gas fueling stations for trucks along U.S. highways.
With plans to build 50 stations this year alone, ENN joins a small but formidable group of players — including Clean Energy Fuels Corp (CLNE.O: Quote, Profile, Research, Stock Buzz) and Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research, Stock Buzz) — in an aggressive push to develop an infrastructure for heavy-duty trucks fueled by cheap and abundant natural gas. Clean Energy is backed by T. Boone Pickens and Chesapeake Energy Corp (CHK.N: Quote, Profile, Research, Stock Buzz).
(Reuters) – New Jersey Governor Chris Christie this week finally approved online gaming in the Garden State. Now comes the hard part: banding together with other states to attract more gamblers, drive up jackpots and lure players away from offshore websites.
New Jersey is now the third state to approve online gambling, after Nevada and Delaware. The catch, however, is that the new laws apply only to people physically present in the individual states.
LOS ANGELES, Feb 26 (Reuters) – First Solar Inc on
Tuesday reported a quarterly profit, reversing a year-ago loss,
but the U.S. solar company’s shares fell 8 percent after it
failed to offer an earnings and sales outlook for 2013.
Net income was $154.2 million, or $1.74 per share, compared
with a loss of $485.3 million, or $4.78 per share, a year ago,
when it recorded large impairment charges.