Atlantic Power Corp Approves New Policy

By
dforde_ctc
Published: April 8, 2013Posted in: FeatureTags:

Atlantic Power CorporationAtlantic Power Corporation (NYSE: AT) (TSX: ATP) (the “Company” or “Atlantic Power”) announced that its Board of Directors has adopted an Advance Notice Policy, which includes a provision that requires advance notice to the Company in circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company other than pursuant to: (i) a proposal made in accordance with the Business Corporations Act (British Columbia) (the “Act”); or (ii) a requisition of the shareholders made in accordance with the Act.  This type of policy has become quite common for U.S. Companies, is becoming more common for Canadian companies and is consistent with the Company’s goals of (i) facilitating orderly and efficient shareholder meetings; (ii) ensuring that all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees; and (iii) allowing shareholders to register an informed vote.

Among other things, the Policy fixes a deadline by which shareholders of the Company must submit director nominations to the corporate secretary of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in such notice for an effective nomination to occur.  No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.



 

Ballard Achieves Record Production Of Telecom Backup Power Systems At Tijuana Facility

By
dforde_ctc
Published: April 8, 2013Posted in: FeatureTags:

Ballard Power SystemsBallard Power Systems (NASDAQ: BLDP)(TSX: BLD) has announced that the Company’s production facility in Tijuana, Mexico manufactured 215 ElectraGen-ME systems in Q1 2013, establishing a new record high production level at the plant.

The 37,000 square foot Tijuana facility was established in 2007. Ballard assumed management in January, 2013 as part of the agreement previously announced last August under which the Company acquired key assets from IdaTech LLC. Located in a local business park, the production facility currently employs approximately 65 highly skilled Mexican contract workers.



Alter NRG Closes $10 Million From Strategic Investors

By
dforde_ctc
Published: November 21, 2012Posted in: Deal FlowTags: , , , ,

Calgary-based Alter NRG (TSX: NRG; OTCQX: ANRGF) has announced a new agreement, subject to Toronto Stock Exchange (the “TSX”) and other approvals, to issue 30,769,230 common shares at a price of $0.325 per common share for total gross proceeds of approximately $10 million to three new strategic investors (the “Financing”).

Once approved, Ervington Investments Limited (“Ervington”) will own approximately 18.2% of the Company’s issued and outstanding common shares, and the other two investors, Ms. Zara Shvidler and Eturab Trade Corp. will own approximately 9.1% and 3.0%, respectively. Ervington, whose ultimate beneficial owner is Roman Abramovich, has a complementary investment in the waste to energy sector in a fuel cell development company, which  when combined with plasma gasification is expected to significantly improve the overall efficiency of waste to energy facilities.

Ervington has informed the Company that it intends to nominate Eugene Tenenbaum and Paul Heagren, who are both long standing employees of Mr. Abramovich, to Alter NRG’s board of directors. Mr. Tenenbaum and Mr. Heagren are expected to be appointed to the Company’s board upon closing of the Financing.

The funds raised will strengthen the Alter NRG balance sheet to execute its long-term business strategy and to fund market expansion opportunities for the Westinghouse Plasma Gasification solution.

Pursuant to the terms of the Financing, Ervington, Ms. Zara Shvidler and Eturab Trade Corp. have agreed that for a period of one year from the date the Financing is completed they will not assign, transfer or otherwise encumber or deal with the common shares they acquire pursuant to the Private Placement. Ervington, Ms. Zara Shvidler and Eturab Trade Corp. have also agreed that for a period of 12 months they will not to solicit proxies for any purpose or otherwise act to seek control or influence in any manner the management, board of directors or policies of Alter NRG.



 

Algonquin Power And Utilities Announces New $30 Million Senior Unsecured Credit Facility

By
dforde_ctc
Published: November 21, 2012Posted in: Deal FlowTags: , ,

Algonquin Power & Utilities Corp. (“APUC”) (TSX: AQN) announced it has entered into a new $30 million senior unsecured revolving credit facility (“Facility”) with the Bank of Nova Scotia. The credit facility will be used for general corporate purposes and has a maturity date of November 19, 2015.



 

Algonquin Power And Utilities Secures $120M In Series A Funding

By
dforde_ctc
Published: November 21, 2012Posted in: Deal FlowTags:

Algonquin Power & Utilities recently closed a $120m Series A funding round.  The new round of funds will be used to finance a portion of the group’s investment in two wind farms in Minonk and Senate, US and for general purposes.

The group issued a total of 4.8 million Series A shares at $25 per share for aggregate gross proceedings of $120m. For the start of the period ending 31 December 2018, the holders of Series A shares are entitled to receive a cumulative quarterly fixed divined of $1.125 per share per year, which is 4.5 per cent on the subscription price of $25 per share, as and when declared by the board of directors of the corporation.

According to the group, the offering was made on a bought deal basis  through a syndicate of underwriters led by Scotiabank and TD Securities and included Capital markets, CIBC World Markets, Desjardins Securities, National Bank Financial, RBC Capital Markets, Canaccord Genuity, Comark Securities and Raymond James.

The Series A shares will now begin trading on the Toronto Stock Exchange under AQN.PR.A.



Real Tech Taps Annie Pinet As Business Development Manager

By
dforde_ctc
Published: October 23, 2012Posted in: On The MoveTags: , , ,

Ontario-based Real Tech, developer of  high quality UV photometric and spectroscopic analytical instrumentation for the water and wastewater industry recently hired Annie Pinet as the company’s new Business Development Manager.  As part of her role Annie will be responsible for sales and marketing efforts for Real Tech.

Prior to joining, Annie was with Deloitte as Manager of Marketing Development for the last year and a half, and Marketing Specialist also at Deloitte before the promotion.



Former Toronto Mayor for Advisory Appointed To Clean Tech Venture Capital Firm’s Advisory Board

By
dforde_ctc
Published: October 23, 2012Posted in: FeatureTags: , ,

He ran the city of Toronto for a few year, but his work is not done yet, Former Mayor of Toronto David Miller has been appointed to Irvine-based Sail Capital Partners Advisory Board. Sail Capital is a venture capital firm that focuses on clean technology-based companies, and looks for opportunities throughout Canada and the United States. Back in April they rolled out a $100 million joint fun in Canada with Stifel Nicolaus Canada Inc., a subsidiary of St. Louis-based investment banking firm Stifel Financial Corp.
Sail Capital also is one of the syndicate of investors in the Ontario Emerging Technologies Fund. The fund, which was set up in 2009, has $250 million in capital that’s expected to be disbursed over five years.



ARISE Announces Change To Board of Directors

By
dforde_ctc
Published: November 7, 2011Posted in: On The MoveTags: ,

ARISE Technologies Corporation (TSX: APV) announced late last week that Founder, Ian MacLellan will retire immediately from the ARISE Board.  Since his departure as Founder and Chief Technology Officer from ARISE in early September, Ian has come to the conclusion that retiring from the Board is best for his family and himself. Not being on the ARISE Board will free him up to pursue new entrepreneurial activities. He will be available to the Company on a consulting basis to assist with transitional issues.



Hydrogenics Tapped To Provide Energy Storage For Wind-Hydrogen Installation In Germany

By
dforde_ctc
Published: October 13, 2011Posted in: Deal FlowTags: ,

Hydrogenics Corporation (Nasdaq:HYGS; TSX:HYG.TO), has been given the news they have been selected by the City of Herten, Germany to provide a wind-hydrogen energy storage solution. Located in North Rhine Westphalia, Herten is recognized as a major German hydrogen cluster for electro-mobility as well as renewable energy projects.

In Germany,  wind energy is considered to have significant potential as part of Germany’s announced commitment to phase out all nuclear power by 2020. By incorporating a hydrogen energy storage system, excess wind power can be stored and redeployed when the wind is not blowing, ultimately supplying a greater percentage of the community’s overall power requirements with improved stability and reliability. This is accomplished with zero carbon emissions.

As part of the deal, Hydrogenics will provide one HySTAT(TM)30 hydrogen generation unit and a HyPM(TM) 50 kW fuel cell power system, to the City of Herten in 2012. This combination will demonstrate the distinct advantage of hydrogen energy storage with its ability to be highly scalable and capable of storing significant amounts of energy for long periods of time with negligible loss. From storage, the energy will be redeployed through fuel cells as electricity to the grid, or be used to fuel zero carbon emission vehicles and other devices such as industrial equipment.



Westport Acquires Alternative Fuel Vehicle Sweden AB For $7.6 Million

By
dforde_ctc
Published: October 13, 2011Posted in: Deal FlowTags: ,

Westport Innovations Inc. (TSX:WPT / NASDAQ:WPRT), yesterday that is has acquired Alternative Fuel Vehicle Sweden AB (AFV) of Gothenburg, Sweden for approximately SEK 51 million (approximately US$7.6 million). AFV is the sole supplier of natural gas fuel systems to Volvo Car Company (VCC).

“Natural gas technology is playing an increasingly important role in European automotive markets, where there is a longstanding interest in cleaner, more economical transportation solutions,” said Ian Scott, President of Westport Light Duty (LD). “We have seen steadily growing demand in Sweden, particularly from corporate and fleet customers. As fuelling infrastructure continues to expand and more automakers offer natural gas options, we expect to see that trend to continue across Europe.”

Volvo dealers in Sweden have offered a bi-fuel 231-hp 2.5 litre turbocharged version of the popular V70 wagon, with the natural gas fuel system engineered and installed by AFV, since 2009. The Volvo V70 Bi-Fuel has been approved as a company car for Swedish businesses, and Swedish drivers can fuel up at more than one hundred public natural gas filling stations. In addition to emissions benefits, corporate and private customers are eligible for tax incentives that make natural gas an even more economical alternative. AFV now aims to expand into other European markets.

AFV was founded in 2009 by a team of former Volvo employees, AFV builds and installs the natural gas systems at facilities located inside VCC’s main production center in Gothenburg. In addition to close ties to management at both VCC and heavy duty vehicle producer Volvo AB, AFV has had strong support from one of Sweden’s leading energy suppliers, Göteborg Energi.



Atlantic Power Corp Approves New Policy

By
dforde_ctc
Published: April 8, 2013Posted in: FeatureTags:

Atlantic Power CorporationAtlantic Power Corporation (NYSE: AT) (TSX: ATP) (the “Company” or “Atlantic Power”) announced that its Board of Directors has adopted an Advance Notice Policy, which includes a provision that requires advance notice to the Company in circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company other than pursuant to: (i) a proposal made in accordance with the Business Corporations Act (British Columbia) (the “Act”); or (ii) a requisition of the shareholders made in accordance with the Act.  This type of policy has become quite common for U.S. Companies, is becoming more common for Canadian companies and is consistent with the Company’s goals of (i) facilitating orderly and efficient shareholder meetings; (ii) ensuring that all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees; and (iii) allowing shareholders to register an informed vote.

Among other things, the Policy fixes a deadline by which shareholders of the Company must submit director nominations to the corporate secretary of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in such notice for an effective nomination to occur.  No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.



 

Ballard Achieves Record Production Of Telecom Backup Power Systems At Tijuana Facility

By
dforde_ctc
Published: April 8, 2013Posted in: FeatureTags:

Ballard Power SystemsBallard Power Systems (NASDAQ: BLDP)(TSX: BLD) has announced that the Company’s production facility in Tijuana, Mexico manufactured 215 ElectraGen-ME systems in Q1 2013, establishing a new record high production level at the plant.

The 37,000 square foot Tijuana facility was established in 2007. Ballard assumed management in January, 2013 as part of the agreement previously announced last August under which the Company acquired key assets from IdaTech LLC. Located in a local business park, the production facility currently employs approximately 65 highly skilled Mexican contract workers.



Former Toronto Mayor for Advisory Appointed To Clean Tech Venture Capital Firm’s Advisory Board

By
dforde_ctc
Published: October 23, 2012Posted in: FeatureTags: , ,

He ran the city of Toronto for a few year, but his work is not done yet, Former Mayor of Toronto David Miller has been appointed to Irvine-based Sail Capital Partners Advisory Board. Sail Capital is a venture capital firm that focuses on clean technology-based companies, and looks for opportunities throughout Canada and the United States. Back in April they rolled out a $100 million joint fun in Canada with Stifel Nicolaus Canada Inc., a subsidiary of St. Louis-based investment banking firm Stifel Financial Corp.
Sail Capital also is one of the syndicate of investors in the Ontario Emerging Technologies Fund. The fund, which was set up in 2009, has $250 million in capital that’s expected to be disbursed over five years.



Samsung, Ontario Sign $3 Billion Wind, Solar Deal

By
dforde_ctc
Published: September 6, 2011Posted in: FeatureTags:

Samsung announced last week that it has signed a $3 billion contract to build wind and solar energy plants in Ontario.
Under the terms, Samsung C&T will build 520-megawatt projects in the Haldimand and Chatham-Kent regions and 550-MW projects in Kingston and Bruce. Korea Electric Power Corp. will design the plants’ electrical wiring and operate the plants.
Samsung C&T said the contract represents the first two steps of a five-step plan over two decades to build and operate 2,000 MW of wind capacity and 500 MW of solar power capacity in the province.
Construction is expected to begin in 2012 and be completed by 2014.

In 2010, Samsung committed to invest $7 billion ($7.07 billion American) under Ontario’s Green Energy Act. That investment pledge came in exchange for $110 million ($111.17 million) in subsidies over the next 25 years.



Hy-Drive Technologies Renames To Become Name blutip Power Technologies Ltd.

By
dforde_ctc
Published: June 7, 2011Posted in: FeatureTags:

Toronto-based Hy-Drive Technologies Ltd. (TSXV: HGS) announced this week that it has changed its name to blutip Power Technologies Ltd. (“blutip Power” or the “Company”). The name change has been accepted by the TSX Venture Exchange and was approved by the Company’s shareholders at its Annual General & Special Meeting of Shareholders held onMay 12, 2011.
The blutip Power common shares began trading on the TSX Venture Exchange under the new name at market open on June 1, 2011. At that time, the trading symbol for the common shares will change to BPR.



Ontario’s Green Energy Act Brings 50,000 New Clean Energy Jobs

By
dforde_ctc
Published: May 26, 2011Posted in: FeatureTags: ,

Green is good, and green jobs are even better.  As the Province of Ontario continues to support the clean tech sector, they recently announced that as part of its Ontario Green Energy Act, 50,000 new clean energy jobs will be created by the end of 2012.  The also helped attract billions of dollars in new investment.

“These innovative companies enrich Ontario’s economy and our environment. Our clean energy plan is cleaning the air we breathe, keeping the lights on in our homes and businesses and creating thousands of good jobs,” said Dalton McGuinty, Premier of Ontario.

Ontario Green Energy Act Facts:

  • Ontario, Canada is helping families with the costs of turning on more clean power by taking 10 per cent off electricity bills for the next five years and moving Time of Use to 7 p.m. — giving families 10 extra hours a week at the discount rate.
  • Eight coal plants have been shut down so far. When coal-fired plants are eliminated in 2014, it will be like taking 7 million cars off the road.
  • Ontario, Canada has added enough new clean power since 2003 to run two million homes. About a fifth of that comes from renewables such as water, wind, solar and bio-energy.
  • Since 2003, over 5,000 kilometres of transmission lines have been upgraded — about the width of Canada from coast to coast.
  • More hydroelectric power will be added to Ontario’s electricity system in the next eight years than over the previous 40 years.



Ballard Receives DOE Award For Cost Reduction Activities

By
dforde_ctc
Published: May 25, 2011Posted in: FeatureTags:

Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) announced that the company’s material products division is a recipient of the 2011 Annual Merit Review Award from the U.S. Department of Energy. The award recognizes Ballard’s success in reducing manufacturing cost of gas diffusion layer (GDL) material, a critical component of the membrane electrode assembly (MEA) used in every Ballard fuel cell product.

2011 Annual Merit Review Award recipients were selected by a Peer Review Panel, following evaluation of the relative merits of various hydrogen and fuel cell projects. The awards recognize outstanding achievements and significant contributions to the U.S. Department of Energy’s Hydrogen and Fuel Cells Program. The award to Ballard acknowledges the efforts of Jason Morgan, Principal Investigator for the DoE funded cost reduction program.



Clean Tech Corner Is On LinkedIn

By
dforde_ctc
Published: May 9, 2011Posted in: FeatureTags: ,

Be sure to join our group on LinkedIn.



Macquarie Power And Infrastructure Corporation Unit And Rebrand To Become Capstone Infrastructure Corporation

By
dforde_ctc
Published: May 4, 2011Posted in: FeatureTags: ,

Macquarie Power and Infrastructure Corporation (TSX: MPT; MPT.DB.A – “MPIC”) recently completed the internalization of all management and administration functions performed by Macquarie Power Management Ltd. and its affiliates. In conjunction with the internalization, MPIC has adopted the name Capstone Infrastructure Corporation.

“Today is the start of an exciting new phase for our company,” said Michael Bernstein, President and Chief Executive Officer. “Our team intends to extend our track record and to grow our portfolio across core infrastructure categories and geographies, including both operating businesses and development- stage opportunities. Our mission is to deliver a superior total return to our shareholders.”

Following the change in name, the Corporation’s common shares and 6.50% convertible debentures (the “Debentures”) will trade on the Toronto Stock Exchange (“TSX”) under the symbols “CSE” and “CSE.DB.A”, respectively, subject to satisfaction of the customary conditions of the TSX.



Hy-Drive Technologies Launches New Platform To Educate Consumers About The Future Of Clean Emissions

By
dforde_ctc
Published: February 2, 2011Posted in: FeatureTags: , ,

Canadian Hy-Drive Technologies (HGS-V) launched a new consumer-focused website yesterday as part of a new focus called blutip Power. Through blutip Power, Hy-Drive plans to execute a number of marketing initiatives and customer solutions to improve emissions and save fuel across many engine applications.

“Through blutip Power, our commitment is to rapidly deploy emissions reduction products that improve our energy economy at the same time,” declared Robert Bucher, President & CEO of Hy-Drive Technologies.

blutip Power will utilize Hy-Drive’s hydrogen generating technology originally developed for the trucking industry and certified through extensive emissions testing to expand into green products and services to meet the needs of various markets, including power generation, public transit, and mining. The company will continue working on diesel combustion, but will also have the knowledge and expertise to expand into multi-fuel controls, smart telematics and a control and monitoring solution that is high precision, low cost, and mobile. Customers will also be able to access blutip Power’s leading engine combustion emissions analysis, environmental packaging, lab services, and tailored program prototyping as required.



Older Entries