Fort Worth, TX – February 13, 2009 – Entech Solar (OTC BB: ENSL.OB), a leader in concentrating solar energy systems, announced today that The Quercus Trust, the Company's largest shareholder, has agreed to cancel Warrants to purchase thirty-eight million (38,000,000) shares of the Company's common stock in accordance with the terms of a Warrant Cancellation Agreement entered into with the Company.
The Quercus Trust has decided to cancel these warrants in consideration for the Company's agreement to increase the number of shares available under the Company's 1999 Stock Option Plan, as amended ("the Plan"), from fifty million (50,000,000) shares to seventy million (70,000,000) shares.The Warrants will be cancelled upon approval of the Company's stockholders of the increase in the number of shares available under the Plan.
David Gelbaum, trustee of the Quercus Trust and Chairman of Entech Solar's Board, said, "This increase to theoption poolwill have the benefit of increasing morale at the company and of helping us attract good people in the future.Quercus believes in sharing upside with the employees."
About Entech Solar
Entech Solar is a leading provider of concentrating solar energy systems.Entech designs, manufactures and installs systems that provide both electricity and thermal energy for commercial and industrial applications.Entech uses its proprietary concentrating photovoltaic and thermal (CPVT) technology to deliver the ThermaVolt™ system, which produces cost-competitive distributed energy.For more information, please visit www.entechsolar.com.
Fort Worth, TX – February 9, 2009 – Entech Solar (OTC BB: WWAT.OB), a leader in concentrating solar energy systems, today announced that it will participate in the Kaufman Brothers Green Investor Conference on February 18, 2009 at the Langham Hotel, Boston.Frank Smith, Chief Executive Officer, and Kent Van Houten, Chief Financial Officer, will review the company's technology and growth strategy at 3:00 p.m. Eastern Time.
A live audio webcast of the presentation will be accessible via the Entech Solar website. To hear the presentation and view related materials, please visit the website atwww.entechsolar.com. A replay will be available for ninety days.Additional information about this conference can be found at www.kbro.com.
About Entech Solar
Entech Solar is a leading provider of concentrating solar energy systems.Entech designs, manufactures and installs systems that provide both electricity and thermal energy for commercial and industrial applications.Entech uses its proprietary concentrating photovoltaic and thermal (CPVT) technology to deliver the ThermaVolt™ system, which produces cost-competitive distributed energy.For more information, please visitwww.entechsolar.com.
Entech Solar Appoints Sean Rooney as Chief Operating Officer
FORT WORTH, Texas--(BUSINESS WIRE)--Entech Solar (OTCBB:ENSL.OB), a leader in concentrating solar energy systems, announced today that Sean Rooney has been named Chief Operating Officer for the Company.
Mr. Rooney joined Entech Solar in February 2008 as Vice President of the Company’s EPC (Engineering, Procurement, and Construction) Operations. Since then, he has implemented a new model for project management which has resulted in over five megawatts of solar projects being completed on schedule with high customer satisfaction. With the Company’s shift in strategy away from flat-plate projects to the production and installation of Entech’s proprietary concentrating solar systems, Mr. Rooney’s role has been expanded to include all manufacturing operations as well as its EPC business. His successful turnaround of the Company’s EPC installations made Mr. Rooney the ideal candidate to address the challenges facing Entech’s manufacturing operations.
“Although our engineering team has made progress in addressing the process and supply-chain issues discussed on the Company’s third quarter earnings conference call, the factory is not yet producing product suitable for certification,” stated Frank Smith, Entech Solar CEO. “Sean will bring the same sense of urgency, purpose, and discipline to our manufacturing challenges that he provided to our EPC projects at Fresno, Denver, Valley Center, and Ocean City. This appointment is part of the ongoing transformation of Entech from a research and development organization to a vertically integrated, product-driven, manufacturer and installer of advanced concentrating solar systems. Once we have established our manufacturing capability and achieved certification, we will have two channels to market – product sales to other integrators and management of our own EPC projects that incorporate Entech modules. Sean will have responsibility for the operations portion of our vertically integrated value chain.”
Mr. Rooney added, “I am very pleased to take on this critically important responsibility for the Company. Following my recent relocation from New Jersey to Texas, I am eager to provide leadership to our manufacturing operations.”
The Company is also augmenting its manufacturing team with additional personnel and training. Entech Solar has retained experts and is training existing staff in Six Sigma methodology to address process and supply-chain issues in a systematic, data-driven approach, employing best-in-class practices. Both of these developments support Entech Solar’s dedication to commercializing its concentrating solar ThermaVolt™ system.
About Entech Solar
Entech Solar is a leading provider of concentrating solar energy systems. Entech designs, manufactures and installs systems that provide both electricity and thermal energy for commercial and industrial applications. Entech uses its proprietary concentrating photovoltaic and thermal (CPVT) technology to deliver the ThermaVolt™ system, which produces cost-competitive distributed energy. For more information, please visit www.entechsolar.com.
I have made a few changes with my contact details over the web in order to help people find me better. Please feel free to contact me any one of the following ways:
The pre-holiday Fourth Conference on Clean Energy at the Hynes Convention Center is long since over, but the event has traditionally proven to be a litmus test for the local clean energy industry.
Surprisingly, the event maintained at least a slight feeling of optimism for the long-term prospects of the local clean technology community, despite the plunging stock market, tightening financial environment and plummeting price of oil. If nothing else, its success bolstered the industry’s position among the region’s traditional industry heavyweights such as telecom, biotech and finance, and left attendees feeling that the industry has a future beyond next year’s event.
Some notes:
• Stealthy portable battery makerLilliputian Systems Inc.of Wilmington made an appearance at the conference, with new vice president of business development and marketingMouli Ramaniwalking the halls. Though the company had a small presence at the show, its big announcement came from its Wilmington facility, where Massachusetts Gov. Deval Patrick attended an event and helped the company announce the addition of 100 new “green collar” jobs through a planned expansion of its manufacturing plant.
The expansion comes as the company finally put a target date — 2009 — on the release of its portable fuel cell for wireless devices.
For the uninitiated, Lilliputian was founded out ofMITon research developed bySamuel SchaevitzandAleks Franz, Lilliputian’s co-founders. In 2003 they added CEOKen Lazarus, and despite raising more than $60 million in funding, the company has remained fairly quiet about its technology.
Over the past few months, a slow stream of information coming out of the company seems to indicate that it has solved the technology issues, and units could be forthcoming as soon as next year.
While such miniature, portable fuel cells have been researched both here and in Asia for years, they have always been “some time away.” If Lilliputian has indeed solved the technology issues, and has a device that can penetrate the $50 billion portable power market, it is no surprise the governor turned out for its expansion announcement.
When you consider the applicability of such power sources on everything from cell phones and music players to GPS units and laptops, 100 new jobs to get them out the door may be just the beginning.
• Two local companies used the conference to announce new funding. Cellulosic ethanol microbe developerSunEthanol Inc.announced its name change toQteros Inc.and brought in $25 million, while alternative engine technology makerReGen Power Systems LLCadded $5 million to its coffers.
What’s interesting about the two deals is that despite the Chicken Little syndrome that has many in the industry saying no “new money” is coming out of the VC community, both deals included new investors. Qteros’ new investors include Cambridge-basedVenrock, New York-basedSoros Fund Management LLCand energy giantBP PLC, joining previous investorsBattery Ventures,Long River VenturesandCamros Capital.
Despite being held during the heart of one of the worst financial weeks in recent history, the economic outlook of the clean energy sector was positive among attendees of the conference. The financial sections of the event, including the annual “investor pitch” sessions, where budding entrepreneurs pitch their company to potential investors, were among the most-attended sessions of the event.
• The atmosphere was likewise positive at the conference’s job fair, where a handful of companies still hiring people (rather than laying them off) fielded questions from a room packed with potential employees. According toMatthew Richards, the founder and managing director of renewable energy recruiting firmDanePartners, which sponsored the job fair, the abundance of job seekers wasn’t all that surprising, given the economy. The number of companies hiring, however, includingConservation Services Groupof Westborough,Satcon Technologies Corp.of Boston,Konarka Technologies Inc.of Lowell,Evergreen Solar Inc.of Marlborough andSecond Wind Inc.of Somerville, was encouraging.
Among the areas that were most active, said Richards, were green-collar jobs, those that require hands-on knowledge of technologies, both new and traditional. Sectors most active on the recruitment side included energy efficiency and demand-response companies, as opposed to core technology research companies in the wind, solar or biomass sectors.
Oil prices have risen to an ultimate level; congress must look into the still tiny alternative energy market. In a minimum of fifty years fossil fuels, which include petroleum (oil), natural gas, and coal, will all run out. Alternative energy is a renewable and the most productive type of energy for the USA and the world (United States. Department of Energy). Every person on this planet is provided with a dirty and unforgiving energy source, fossil fuels. Fossil fuels destroy and tarnish the once beautiful world. Alternative energy could slowing bring back some of our prosperous health. The switch should be made; alternative energy is a productive source of energy in which its pros out weigh its cons.
From 1850-2000, the average amount of energy used by each person in the United States has increased rapidly ("'Alternative Energy'"). As a result of this, an �energy crisis� has began in the last twenty years. Some experts suggest that people should cut down on their energy output and save what they can, but most do not oblige this feeble request. Josh Dorner suggests, �People want rewards they will not just perform� (�Inventors About�). Recently alternative energy has been brought to the highest level of attention. Congress has shown great interest in the topic, but does not feel ready to make a full time switch. Many attempts have been made to change to alternative energy. In the 1990s the first �zero emissions� vehicles were created (�Inventors About�). They were solar cars in which they run on a solar cell, but the sun collector areas were massive and dubbed to large for a consumer car. Everyone in the world is affected by energy in some way, but most of us do not have a choice in the energy we use. Fossil fuels are at their bitter end a billion years in the making all taken way in a couple hundred (Barrett). Wind, solar, hydropower, and many more are nearly unlimited and are in nature�s good will. Alternative energy is a major topic of discussions, because of the limitless of fossil fuels. Even George W. Bush has seen the challenge in the topic. He wants to bring out the ocean winds of the shores of Carolina with over 100 winds turbines. Josh Dorner states, �Wind is a lot steadier and stronger offshore� (Barrett). So turbines on North Carolina outer banks would be an outstanding idea. It is said that the turbines could supply energy for fifty million homes. Which would defiantly cut down on coal use to heat the home. The Bush Administration has finally come to odds with the environmental groups, because he has paved the way for wind-generated energy for future presidents. To start alternative energy prices would be quite high, at this very moment the average wind turbines cost $1500. In the long run the cleanness and supportability would conquer the price. Also in time the prices would rival fossil fuels, and the energy output could extinguish fossil fuels once and for all. The future of energy depends on the alternative energy; ways must be found to support it in a cheap and efficient way. David Anton, a DuPont executive has developed biobutanol, the first technically advanced biofuel (United States. Department of State). Biofuel is biomass turn in to a liquid; it can be made from sugar cane, barley, and many vegetables. The most important and most well known biofuel is ethanol. David Anton says, "That ethanol doesn't have the same energy density as gasoline. It's about 65 percent of the energy density of gasoline, so you're going to get lower gas mileage for every tank of fuel� (United States. Department of State). So DuPont created biobutanol. Anton hopes this to cut down on greenhouse gas emissions and fossil fuel use. Anton says, "Biobutanol has about 85 percent of the energy content of gasoline, you'll see basically no difference between gasoline and biobutanol.� When gasoline has been officially depleted, the future may depend on bioutanol. In 2006 China finished the magnificent Three Gorges Dam; it is now the largest hydroelectric plant in the world. The dam will help with flood control and navigation of the Yangtze River, but most of all it will provide huge amounts of energy to China and someday maybe the world. Why should alternative energy be our most prized possession? The world runs on energy. Without it there would be no life. So when fossil fuels run out, alternative energy will become an ideal possession so life can continue to an average extent. Wind power has started to be competitive and provided a great value in the power market (United States. Department of Energy). The USA wind power use has increased by 27 percent since 2006. Many companies and environment groups have researched wind, and biofuels profusely. Their work has show great strides in alternative energy market. DuPont making biobutanol and the Bush Administration building windmills are just a few examples of the strides being made. Alternative energy is very plentiful, and it is great for the environment. Lester R. Brown, the president of the Earth Policy Institute, said that, "Instead of being based on fossil fuels, the new economy will be powered by abundant sources of renewable energy: wind, solar, geothermal, hydropower, and biofuels.� On the other end of the spectrum alternative energy has a very high cost, in the instant of nuclear energy some say the energies risk overtake its benefits, and its power output may not be as high as fossil fuels. Alternative energy is a productive source of energy in which its pros outdo its cons; the switch should be made. Wind, solar, hydropower, nuclear, biomass are all examples of alternative energy. People must obligate themselves to see the all around goodness in different energy sources. More research should be done to make these sources available to an every day kind of person. More money should be given to the organization doing the research. Alternative energy has show growth and strength over the past few years hopefully this will continue and someday become a main energy source.
TORONTO, ONTARIO -- 11/10/08 -- Vesta Capital Corp. ("Vesta") (TSX VENTURE: VES.P) is pleased to announce that on October 30, 2008, it entered into a letter of intent ("LOI") with 3GSolar, Ltd. ("3G"). The LOI provides that Vesta will enter into a share exchange transaction with each of 3G's shareholders, which will result in 3G becoming a wholly-owned subsidiary of Vesta (the "Transaction"). The Transaction is intended to constitute Vesta's "qualifying transaction" under TSX Venture Exchange ("TSXV") policies. If the Transaction it successfully completed, it is believed that 3G would be the first Israel-based business listed on a Canadian stock exchange.
About 3G
3G (formerly, Orionsolar Photovoltaics Ltd.) is a developer of dye solar cell ("DSC") photovoltaic modules. DSC technology is a cost-effective alternative to silicon and thin film-based systems, providing a low-cost solar energy solution that produces electricity efficiently even in low light conditions. 3G focuses its efforts to develop DSC modules to serve off-grid markets, mainly in developing countries where in excess of two billion people live without electricity.
Hi, I am David Anthony. I am the Manager of 21Ventures (www.21venture.net) - I invest in 3 main areas, Physical Security, Mobile Computing and Clean Technology. I also have some interests in PIPE (private investment in public equity - check out on wikipedia)
