Energy Business

The Business Day In Global Warming (GE, UPS, LDK, ITRI, BECN, ENER, COMV)

General Electric (NYSE:GE) announced a $750 million order to supply six advanced technology, Frame 9FB gas turbine-generators and associated services to EDF (Électricité de France) for the utility’s electrical power production facilities in France and elsewhere in Europe.

UPS (NYSE:UPS) is adding 306 alternative fuel vehicles to its “green fleet” by placing an order for 167 Compressed Natural Gas (CNG) delivery trucks while taking delivery of 139 new propane delivery trucks in North America. Additionally, the company has launched an initiative to use biodiesel fuel in its ground support vehicles at the UPS Worldport® air hub in Louisville.  Maybe BROWN really can be GREEN.

LDK Solar’s (NYSE:LDK) woes in China over its reporting on inventories continues…..down another 25% today. Lazard Capital Markets’ Sanjay Shrestha lowered his price target on Energy Conversion Devices (NASDAQ:ENER) from $44.00 down to $40.00 (current was $26.50); and increased his Buy rating target on Otron (NASDAQ:ITRI) from $95 to $115, and reiterated the Buy rating and $37 target on Comverge (NASDAQ:COMV).

FROST & SULLIVAN: “Hydrogen Economy: Hype or Potential Reality?”

Late last week, Beacon Power Corporation (NASDAQ: BCON) was notified bythe U.S. Department of Energy that the Company was one of sixteenselected from 143 company applications to submit a full application fora DOE program that would provide loan guarantees to commercial lendersfor up to 80% of the project debt needed to finance the construction ofits first 20-megawatt flywheel frequency regulation plant.

As a reminder, whether you prefer the term “Global Warming” or “ClimateChange” is not the issue as far as 24/7 Wall St. covers it. Greenbusiness has become big business, and this affects many publiccompanies today.

Jon C. Ogg
October 8, 2007

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