w.RenewableEnergyStocks.com">www.RenewableEnergyStocks.com, a leading investor news and research portal
for the renewable energy sector within Investorideas.com, presents a sector
close-up on recent news and developments in renewable energy stocks as oil
continues to set record highs.
Renewable Energy Sector Close-Up as of May 21, 2008
Geothermal stock, Essential Innovations Technology Corp. (OTCBB: ESIV)
(FRANKFURT: E6S) announced it has successfully closed and funded a
financing in the form of a convertible secured note in the amount of US
$1,750,000.
Rotoblock Inc. (OTCBB: ROTB) recently announced it will acquire controlling
interest in Hikom Gottell Corporation for US $25 million (US $25,000,000).
The US-China venture intends to develop and manufacture small engines,
air-conditioning systems and other consumer and industrial equipment.
XsunX, Inc. (OTCBB: XSNX), a solar technology company, announced today that
it has signed an agreement with Praxair, Inc. (Market, News) for the supply
of bulk industrial gases for its new multi-megawatt thin film photovoltaic
(TFPV) solar manufacturing facility near Portland, Oregon.
Electric vehicle pioneer ZAP (OTCBB: ZAAP) announced that Dubai's Al Yousuf
Group has completed a transaction to purchase a convertible debt that was
part of a private placement registration from October 2007.ZAP closed
trading at $1.18 on 2,532,983 shares.
Ascent Solar Technologies, Inc. (Market, News) announced
that the underwriters of its public offering exercised their over-allotment
option to purchase an additional 570,000 shares of its common stock at
$14.00 per share.
The Chicago Board Options Exchange launched trading in options on Market
Vectors-Solar Energy ETF (Market, News), an
exchange-traded fund.
Solarfun Power Holdings (Market, News), a
manufacturer of silicon ingots and photovoltaic (PV) cells and modules in
China, reported its unaudited financial results for the first quarter
ended March 31, 2008 with Net revenue of RMB 1.20 billion (US$ 171.0
million), an increase of 529% from the fourth quarter of 2007. Solarfun
traded 30,416,457 shares and was up 4.99%.
Publicly traded Suzlon Energy Limited, based in Mumbai, India, the world's
fifth leading wind turbine maker with 10.5% of global market share,
announced results for the financial year ended March 31, 2008, reporting
71% growth in revenues.
Fuel Tech, Inc.
