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Fri12262014

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SK Group investing in U.S.-based thin-film manufacturer

Korean conglomerate SK Group is investing an additional $19 million on thin-film manufacturer HelioVolt Corporation. The U.S.-based HelioVolt manufactures monolithically integrated copper, indium, gallium, selenium modules. The company will be using the funds to expand its commercialization efforts. The SK Group is one of the largest conglomerates in Korea with interest in the energy chemicals...

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Westport increases natural gas vehicle portfolio with new acquisitions

Westport Innovations Inc. has acquired BAF Technologies, Inc. along with its subsidiary ServoTech Engineering, Inc. for $25 million in Westport stock. Westport, which engineers advanced natural gas engines and vehicles, believes their acquisition of these two companies will create the largest product portfolio and market presence in the North American light duty natural gas vehicle space. “BAF has established a strong portfolio of natural gas vehicle...

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First Solar closes stock offering at $427.7 million

Thin-film solar company First Solar garnered around $427.7 million in net proceeds in the closing of their common stock offering. The company intends to use the funds for general corporate purposes, which may include acquisitions of under development photovoltaic solar power system projects, investments in P.V. solar power system projects that will be jointly developed with strategic partners and capital...

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Australia’s largest biorefinery to renew operations by end of 2013

Australia’s largest biorefinery should be back on-line by the end of this year, according to new majority stakeholder Lignol Energy Corporation. “Our goal is to have the refinery come back on line in Q4 2013 and incorporate upgrades to process lower cost feedstocks that will enhance profitability in 2014,” said Ross MacLachlan, chief executive officer and chairman of L.E.C. L.E.C., a technology company specializing in...

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Ming Yang sees loss in 2012, looks to China and India for 2013

China Ming Yang Wind Power Group Limited ended the year 2012 with a gross profit of $59.4 million despite a total comprehensive loss of $48.7 million. “2012 was a very tough year not just for us but also for the whole industry around the world,” commented Mr. Chuanwei Zhang, chairman and chief executive officer of Ming Yang. Ming Yang is one of the top ten wind turbine manufacturers worldwide and is the largest non-...

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China leads in clean energy investments with $65.1 billion in 2012

China garnered the most clean energy investment in 2012, with a stout 20 percent increase while investment in the United States and the European Union fell, according to a new report of non-profit group The Pew Charitable Trusts. The report showed China attracted $65.1 billion worth of renewable energy investments last year, earning it the top spot and marking the third time that it bested investment in...

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China Sunergy sees almost 400 MW of solar panel shipments in 2012

In 2012, solar cell and module manufacturer China Sunergy shipped around 391.0 megawatts worth of solar panels for total revenue of $292.7 million. The solar cell and module manufacturer’s sales in Germany, Japan, France and the United Kingdom have remained robust but China Sunergy is struggling with the oversupply in the global solar market. The shipments for the full year ended December 31, 2012 showed a decrease of 7.0...

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Xzeres Corp. gets $6.5 million to expand small wind turbine business

Small wind turbine company Xzeres Corp. has obtained a new $6.5 million credit facility to support its 2013 near term and strategic growth objectives. Xzeres designs, manufactures and markets wind turbines with capacities of 2.5 and 10 kilowatts for the commercial, light industrial and residential markets. "While utility-scale wind has garnered the lion's share of attention, we believe the...

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Blume Distillation gets $2.2 million in financing round for bioethanol production

Blume Distillation LLC, a provider of bioethanol production equipment, has closed its Series A financing round, earning $2.2 million to accelerate the assembly of their prototype bioethanol production systems. Blume Distillation develops and designs turnkey appropriate-scale equipment for the production of bioethanol from waste and surplus resources as well as native and cultivated crops. “For communities all over the...

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XL Hybrids raise $4 million in funding for hybrid electric powertrain technology

XL Hybrids, Inc. has raised $4 million in a series B investment round to ramp up the delivery of its hybrid electric powertrain to existing and new customers. XL Hybrid’s low-cost hybrid electric powertrain was designed for class 1 to 3 commercial fleet vehicles. The system can be installed in existing vehicles or as an upfit on a new one. By storing energy wasted in braking and reapplying it during...

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