LOS ANGELES (Reuters) – Energy monitoring and efficiency company EnerNOC Inc said it never engaged in a practice known as double counting as it looked to assuage investor concerns that have sent its stock down nearly 20 percent in the last week.
EnerNOC executives, on a conference call with analysts, disagreed with grid operator PJM’s allegations of double counting, saying the issue was that PJM was not willing to give customers credit for reducing power usage beyond their agreed-upon amount.
LOS ANGELES, Feb 15 (Reuters) – Electric car maker Tesla
Motors Inc (TSLA.O: Quote, Profile, Research, Stock Buzz) on Tuesday reported a wider quarterly net
loss as higher expenses for research, development, sales and
marketing offset a 95 percent surge in revenue.
The company’s net loss was $51.4 million, or 54 cents per
share, for the fourth quarter ended Dec. 31, compared with a
net loss of $24.2 million, or $3.43 per share, in the same
quarter a year earlier.
FRANKFURT/LOS ANGELES (Reuters) – Solar power companies are likely to surprise investors this earnings season with bright outlooks for 2011 as Italy and the United States ratchet up demand for panels following a cut in government support in the world’s largest solar market, Germany.
Fears of a deep regulatory overhaul in Europe have overshadowed solar stocks in recent months, pressuring valuations as investors fretted that subsidy cuts in Germany, France and other markets would cause an oversupply of solar panels that would send panel prices down dramatically and hurt manufacturers’ profits.
NEW YORK/LOS ANGELES, Feb 14 (Reuters) – Electricity
demand-response company EnerNOC Inc (ENOC.O: Quote, Profile, Research, Stock Buzz) sought to dispel
concerns it had wrongly booked power savings, saying it was
“fully deserving of all payments” for its services, but its
shares extended their losses on Monday.
The company also said the abrupt departure of Chief
Operating Officer Darren Brady last week was unrelated to a
statement by grid operator PJM that accused companies of double
counting their power savings.
LOS ANGELES (Reuters) – LED makers have defied the post-crisis market turmoil with off-the-charts share price gains reminiscent of the dot-com boom.
Now, the sudden rise of dozens of government-backed Chinese competitors threatens to steal the thunder of market leaders just as a global transition to super-efficient lighting gets under way.
LOS ANGELES (Reuters) – German solar start-up Sulfurcell raised $25 million from Intel Capital and other investors to fund the development and production of its higher-efficiency solar cells.
The Berlin company is one of many small solar companies that make panels out of copper, indium gallium selenide (CIGS) cells instead of the polysilicon cells used in most solar equipment. CIGS cells are less efficient at turning sunlight into electricity, but cost less to manufacture.
LOS ANGELES, Jan 24 (Reuters) – German solar start-up Sulfurcell raised $25 million from Intel Capital and other
investors to fund the development and production of its
higher-efficiency solar cells.
The Berlin company is one of many small solar companies
that make panels out of copper, indium gallium selenide (CIGS)
cells instead of the polysilicon cells used in most solar
equipment. CIGS cells are less efficient at turning sunlight
into electricity, but cost less to manufacture.
LOS ANGELES, Jan 21 (Reuters) – Electric car start-up Coda
Holdings tapped a former General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) and Chrysler
[CCMLPD.UL] executive with extensive experience in China as its
new chief executive.
Phil Murtaugh, who spent more than 30 years at GM, assumed
the CEO role at privately-held Coda effective immediately. He
replaces Steven “Mac” Heller, a board member who was named
interim CEO in November. Heller will now become executive
LOS ANGELES (Reuters) – U.S. Geothermal Inc is in talks with Canada’s Enbridge Inc about a second equity investment in one of the company’s geothermal power plants, Chief Executive Dan Kunz said in an interview.
Enbridge, Canada’s No. 2 pipeline company, is beefing up its renewable power business and last year paid $23.8 million for a 20 percent stake in U.S. Geothermal’s Neal Hot Springs project in Oregon.
LOS ANGELES, Jan 18 (Reuters) – LED lighting maker Cree Inc
(CREE.O: Quote, Profile, Research, Stock Buzz) reported a 47 percent rise in quarterly profit, but
its sales, profit and current quarter outlook fell short of
expectations because of lower sales in Asia, sending its shares
down 15 percent in after-hours trading.
Net income in the fiscal second quarter was $49.8 million,
or 45 cents per share, below the company’s forecast calling for
earnings per share of 46 cents to 50 cents. A year ago, the
company earned $33.8 million, or 32 cents per share.