InvestSource Inc.: PureSpectrum, Inc. Conducts Performance Testing by Request of Lighting Manufacturers

Jul 09, 2008 (M2 PRESSWIRE via COMTEX) -- YGE | Quote | Chart | News | PowerRating -- Stocks in the News: PureSpectrum, Inc. (Other OTC: PSPM), Yingli Green Energy Holding Company Limited (NYSE: YGE), Energy Conversion Devices, Inc. (ECD) (NASDAQ: ENER), ConocoPhillips (NYSE: COP), Schering-Plough Corp., (NYSE: SGP), and Mechel OAO (NYSE: MTL)

July 8, 2008 -- PureSpectrum, Inc. (Other OTC: PSPM | Quote | Chart | News | PowerRating) has commissioned extensive performance at the request of lighting manufacturers as the lighting technology continues to make progress toward the finalization of a licensing agreement for its innovative ballast technologies for fluorescent lighting. PureSpectrum owns several patents and patents pending related to electronic ballast and dimming technology for both Compact Fluorescent Light (CFL) bulbs and linear fluorescent ballasts, and the company has been in licensing discussions with several major lighting manufacturers during the past few months. To accommodate additional data requests from multiple manufacturers, the company has engaged Independent Testing Laboratories, a NVLAP-certified testing facility in Colorado, to conduct performance testing on prototypes built with PureSpectrum's proprietary dimmable ballast circuitry. According to PureSpectrum's advanced technology team, the tests will include ballast performance tests to confirm that PureSpectrum's technology meets standards for ballasts established by the American National Standards Institute (ANSI), the U.S. Department of Energy's Energy Star program as well as the Federal Communications Commission's requirements for Electromagnetic and Radio Frequency Interference. The company expects to distribute the test results before the end of the week. Due to provisions in the Energy Bill passed in 2007, the multibillion lighting industry is preparing to face its most formidable challenge in decades when inefficient but inexpensive and dependable incandescent bulbs are outlawed in 2012. As the industry giants marshal their resources to plan for the long term transition, smaller, more nimble companies like PureSpectrum are introducing readily implementable solutions that immediately address the performance of energy efficient artificial lighting products.

July 8, 2008 -- Yingli Green Energy Holding Company Limited (NYSE: YGE), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, announced that it has entered into five new sales contracts to supply an aggregate of more than 7 MW of PV modules to five companies in Korea. All modules will be used in projects located in Korea. Customers that signed these contracts include LG CNS Co., Ltd., DMS Co., Ltd., Hyosung Corporation, Nam Jung Energy Co., Ltd. and Kaycom Corp, to which Yingli Green Energy will supply PV modules during the third quarter of 2008. "We are pleased with the success that we have had so far in building our business in Korea and these new contracts clearly demonstrate continued progress in extending our global presence," commented Mr. Seok Jin Lee, Chief Operating Officer of Yingli Green Energy. "In a relatively short period of time, we have been able to develop good relationships with reputable companies in Korea. Our strong brand in other established markets has given us a solid starting point and we believe these contracts will further build customer confidence in the region. We are confident that Korea will develop into an exciting emerging solar market on the back of strong demand and favorable feed-in tariffs. As we continue to promote our products in new markets around the world, we will always remain deeply committed to further solidifying relationships with our existing customers."

July 8, 2008 -- Energy Conversion Devices, Inc. (ECD) (NASDAQ: ENER), announced that its UNI-SOLAR thin-film flexible solar laminates will power the world's largest rooftop solar power system. The 12-megawatt system is being installed on GM's assembly plant in Figueruelas, Zaragoza, Spain and will become operational in the fall of 2008. ECD will supply the solar laminates through its wholly owned subsidiary, United Solar Ovonic, LLC. When fully operational, the photovoltaic system will have a peak capacity of 12 megawatts, producing as much as 15 million kilowatt hours of "green" energy annually, enough to power approximately 4,500 homes. The Zaragoza facility marks the third major use of UNI-SOLAR laminates by GM. UNI-SOLAR thin-film flexible solar laminates also power GM parts warehouses in Rancho Cucamonga and Fontana, California, two of the largest rooftop solar power installations in the United States. "We are pleased that GM is again using United Solar as its solar provider, and that our UNI-SOLAR laminates are the product of choice for the world's largest rooftop solar system," said Mark Morelli, president and CEO of Energy Conversion Devices. "Our UNI-SOLAR laminates are an ideal match for rooftop systems like this one, and we are proud to be a part of this project."

July 8, 2008 -- ConocoPhillips (NYSE: COP | Quote | Chart | News | PowerRating) and Abu Dhabi National Oil Company (ADNOC) signed an Interim Agreement to develop the Shah Gas Field in Abu Dhabi. Under the Interim Agreement ConocoPhillips and ADNOC will jointly share the ongoing cost of front-end engineering and design (FEED) and project mobilization for the Shah Gas Field development. Final project agreements are expected to be completed by year-end. "ConocoPhillips is pleased to establish a major presence in Abu Dhabi and is honored to participate with ADNOC in this world-class gas development. Our extensive experience in the development of high-sulfur gas fields and ability to employ state-of-the-art technology complements our strategy to invest in projects that expand our global presence and help meet the growing demand for energy around the world," said Jim Mulva, chairman and chief executive officer, ConocoPhillips.

July 8, 2008 -- Schering-Plough Corp., (NYSE: SGP | Quote | Chart | News | PowerRating) announced that corifollitropin alfa, its experimental, sustained follicle stimulant (SFS) met its primary endpoints in the Phase III ENGAGE trial, according to data presented during a Schering-Plough-sponsored symposium at the 24th annual meeting of the European Society of Human Reproduction and Embryology (ESHRE) in Barcelona, Spain. The ongoing pregnancy rate, the primary endpoint of this non-inferiority trial, obtained in the 150 mcg corifollitropin alfa treatment arm (38.9 percent per started cycle) was similar to that achieved in patients receiving 200 IU recombinant FSH (follitropin beta) (38.1 percent per started cycle). The number of oocytes retrieved (co-primary endpoint) was within the limits of clinical equivalence, and the estimated difference of +1.2 was in favor of the corifollitropin alfa 150 mcg treatment arm.

July 8, 2008 -- Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces the signing of a contract between its Chelyabinsk Metallurgical Plant OAO (CMP) subsidiary and Danieli, to supply technology and equipment to construct a rail and structural steel mill at CMP. Italian-based Danieli, a world leader in developing technologies and manufacturing equipment for steel production, and Chelyabinsk Metallurgical Plant OAO have signed the contract for the supply of technology and equipment for a rail and structural steel mill, which has over 1.0 million tonne annual production capacity. The rail and structural steel mill is capable of producing structural shapes of a wide range of size and grade. Its basic product mix will include narrow, mid, and wide flange beams; parallel flange edge channels; equal and unequal angles; and special profiles, such as Larssen sheet pile, pit props, Z-sections.

The stock market rebounded Tuesday following a late session rally as financial stocks soared and crude prices plummeted. The S&P 500 rose 1.7%, with eight of the ten economic sectors advancing. The financial sector spiked 5.7% in a rebound bid after falling 17% over the previous few weeks. Beaten-down names Freddie Mac showed significant strength. Fed Chairman Bernanke said the Fed is committed to financial stability, and may continue its emergency lending to investment banks through 2009.Crude fell 3.8% to $135.99 per barrel, marking a two-day decline of 6.4%. Traders took profits on reports that Iran's president wants to avoid war with Israel and the United States. Commodities as a whole fell 2.4% as the dollar rose 0.5%.The drop in crude prices lifted energy sensitive names, with transportation stocks climbing 5.0% and airlines gaining 11.2%. The consumer discretionary sector climbed 2.2%. Conversely, the energy sector slipped 1.5% due to the decline in crude prices. In corporate news, savings and loan company IndyMac Bancorp fell 38% after announcing that it could not successfully raise new capital, and that regulators said the firm is no longer well capitalized. IndyMac will no longer accept new loan submissions. VMware plunged 24% to its lowest level since its August 2007 IPO after the company said it expects fiscal year 2008 revenue growth to be below prior guidance that called for more than 50% growth. The tech company also announced the departure of its president and CEO. EMC Corp, which has a majority holding in VMware, fell on the news. Office Depot announced that it expects second quarter North American retail same-store sales slipped 10% from last year, citing the sluggish economic environment. The company expects that its earnings before interest and taxes margin to shrink by 2% more than previously forecast. Shares of Office Depot fell 32% on the announcement. In economic news, the latest pending home sales data indicate that the home sales market is still weak, but is not deteriorating at the same rate we saw throughout 2007. According to the National Association of Realtors, May pending home sales fell 4.7%, which is slightly more than the expected decline of 2.8%. However, April was revised higher to a gain of 7.1% from a rise of 6.3%.DJ30 +152.25 NASDAQ +51.10 SP500 +21.39 NASDAQ Adv/Vol/Dec 2025/2.48 bln/844 NYSE Adv/Vol/Dec 2149/1.72 bln/1031.

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