InvestSource, Inc.: BioSolar, Inc. Receives Speculative Buy Rating

Sep 04, 2008 (M2 PRESSWIRE via COMTEX) -- PSPM | Quote | Chart | News | PowerRating -- Stocks in the News: BioSolar Inc. (OTCBB: BSRC), PureSpectrum, Inc. (PINKSHEETS: PSPM), GreenHunter Energy, Inc. (AMEX: GRH), Exelon Generation (NYSE: EXC)

Sep 03, 2008 -- BioSolar Inc. (OTCBB: BSRC | Quote | Chart | News | PowerRating) has received a reiterated Speculative Buy Rating with a price target of $1.37 by Beacon Analyst, Victor Sula, Ph.D. The full report is available at http://www.beaconequity.com/adpages/BSRC. In the report, the analyst writes, "The Company is transitioning to full-scale production of its BioBacksheet in a state-of-the-art manufacturing facility operated by its contract manufacturing partner, Rowland Technologies Inc. and expects to report meaningful revenues by year-end 2008 as it commences full-scale production of its bio-based material."

Sep 02, 2008 -- In its ongoing efforts to continue development of the company's breakthrough ballast technology, PureSpectrum, Inc. (PINKSHEETS: PSPM | Quote | Chart | News | PowerRating) has begun testing the viability of its innovative ballast design for use with Light Emitting Diode (LED) applications. PureSpectrum has already engineered and introduced breakthrough ballast technology for fluorescent lighting, and during the past several months the company has transitioned from research and development into implementation and is engaged in licensing discussions with multiple manufacturers. However, PureSpectrum president and CEO Lee Vanatta said that PureSpectrum's core business will remain technology and now the company has begun adapting its base technology to be compatible with LED lighting systems. The ultra-efficient solid state lighting products have garnered heavy attention and some market traction during the past two years and are considered by some industry analysts to be the long term future of both commercial and residential lighting. While there are several practical reasons that LED light sources will not gain full consumer acceptance in the near future, Vanatta said that the consensus within the lighting industry believes that solid state lighting will become dominant in the long term. Currently, PureSpectrum is marketing ballast technology to improve the leading commercial lighting product -- linear fluorescents -- and the anticipated residential lighting market leader -- Compact Fluorescent Lamps (CFL). "Our commitment to our shareholders is that we will continually explore new avenues for revenue generation in the lighting industry utilizing our base science," said PureSpectrum president and CEO Lee Vanatta. "We have been told repeatedly that our approach to ballast circuitry topology is unique within the industry, and we believe our ballast can also provide performance improvements for LED-based lighting devices. By researching the feasibility of interfacing with LED lighting, we expand the scope of marketable applications for our technology and place PureSpectum squarely in the middle of the lighting conversation for the foreseeable future."

Sep 03, 2008 -- Greenhunter Renewable Power, LLC, a wholly-owned subsidiary of GreenHunter Energy, Inc. (AMEX: GRH), announced today the closing of an acquisition of an existing 14 MW wood waste-fired biomass power plant located in Telogia, Florida. The biomass power plant, Telogia Power, LLC, and an associated entity, Telogia Power Unit #2, LLC, were acquired from CQ BioPower Producers, a subsidiary of CQ, Inc., a privately-held power plant operator based out of Blairsville, Pennsylvania. The acquisition of Telogia Power, LLC, which includes approximately 125 acres of associated land, is a continuation of our power group's multi-year strategy to increase the capacity of the biomass power plants within its existing portfolio. GreenHunter Renewable Power, LLC will acquire the 14 MW plant, which was originally constructed in 1986 by General Electric and remained in operation with a 90% capacity factor until early 2008, for approximately $2.5 million in cash. The Company has bu dgeted an additional $8.8 million for the renovation and improvement of the biomass power plant, which is not currently in operation. The Company's goal is to have the project back into commercial operation by the first quarter of 2009. GreenHunter is currently negotiating with several interested regional co-ops and utilities for a new long-term power purchase agreement. Additionally, GreenHunter has recently negotiated with a third party to provide up to 40% of the power plant's wood waste feedstock requirement. The remainder of the necessary fuel will be acquired from a variety of local wood waste sources. Gary C. Evans, Chairman, President and CEO of GreenHunter Energy stated, "This biomass power generation asset fits extremely well in our strategy of owning and operating a diverse portfolio of renewable power and fuels assets so as to aggregate within one entity multiple types of revenue streams. Our Board and management team will continue to execute on our strategy of employing our capital in the most efficient manner by acquiring existing assets significantly below market prices so as to maximize the ultimate return to our shareholders."

Sep 03, 2008 -- Exelon Generation (NYSE: EXC | Quote | Chart | News | PowerRating) today submitted a Combined Construction and Operating License (COL) application to the U.S. Nuclear Regulatory Commission (NRC) seeking authorization to build and operate a new dual-unit nuclear generating facility in Victoria County, Texas. This is an historic time as Texas moves toward more clean energy sources and keeps pace with growing energy needs," said Thomas O'Neill, vice president for new plant development. "Nuclear energy is a safe, clean, reliable alternative, securing a diverse energy portfolio for both the state of Texas and the country." The combined license application, approximately 6,500 pages long, took a team of more than 60 Exelon employees and contractors just under 12 months to complete. Exelon's COL application is the 12th to be submitted to the NRC by a U.S. nuclear operating company in the past 14 months. The NRC's evaluation of the application is estimated to take 3 to 4 years and involves a technical review and public hearing. A decision on the license is not expected before 2012. The proposed facility would be built on an 11,500-acre site about 13 miles south of Victoria, Texas, off U.S. 77 in southeast Texas. Plant structures would occupy about 300 acres and a man-made lake for plant cooling would cover about 4,900 acres. The two reactors would be capable of producing at least 3,000 megawatts -- enough to power more than 1.85 million typical Texas homes. A megawatt is one million watts. "Today marks an important milestone in making this plant a reality," Victoria County Judge Donald Pozzi said. "By moving forward on time and on target, Exelon continues to demonstrate its serious intentions and commitment to Victoria."

Market Wrap for September 3rd, 2008

Wednesday marked a choppy session for Wall Street, with the major indices settling in mixed fashion following a late-session recovery effort. The trading action came as traders digested volatile crude prices, a better-than-expected manufacturing reading and the Fed's Beige Book. In the end, the Dow rose 0.1%, while the S&P 500 and Nasdaq fell 0.2% and 0.7%, respectively. The Nasdaq's underperformance was largely due to some warnings out of the tech sector. The tech sector fell 1.7%. Shares of Corning (GLW 17.04, -2.46) were pummeled after the company issued a third quarter earnings warning due to lower-than-expected LCD glass shipments. The company cited an industry inventory glut. Semiconductor stocks fell 4.2%, after Corning's outlook raised demand concerns about LCD TVs, monitors and notebook computers. In addition, several semiconductor companies presented at the Citigroup Global Tech Conference. Financials (+1.4%) were an area of strength. Bond insurer Ambac Financial (ABK 8.61, +1.54) confirmed that it received regulatory approval from the Commissioner of Insurance of the State of Wisconsin to capitalize and restart Connie Lee Insurance, which will provide insurance for the municipal bond market. Lehman Brothers (LEH 16.85, +0.72) was once again in focus, with continued speculation that the struggling bank will be taken over or receive a capital infusion. The consumer discretionary (+0.5%) sector outperformed, benefiting from a 1.6% rise in retail stocks. Staples (SPLS 25.17, +0.40) reported a 16% year-over-year drop in its second quarter earnings per share, which matched Wall Street's forecast. Meanwhile, shares of General Motors (GM 11.36, +0.71) rose 6.7% after the automaker posted a smaller-than-expected decline in August sales. In other corporate news, Coca-Cola (KO 51.67, -0.29) is buying a Chinese juice company in a deal valued at roughly $2.4 billion. In economic news, factory orders remain surprisingly strong, with the fifth straight month of positive growth. July factory orders rose 1.3% (consensus +1.0%). Excluding transportation, orders rose 1.0%. In addition, unfilled orders were up 0.7%, marking the 29th increase in the last 30 months, and indicating that manufacturing sector will remain busy. Orders in June were revised higher to 2.1% from 1.7%. The Fed's Beige Book -- a collection of anecdotal economic reports from the 12 Federal Reserve districts -- showed an economic slowdown in most districts. At the same time, most districts continued to report price pressures due to the elevated costs of energy, food and other commodities. Wage pricing pressures were moderate, as the sluggish economic environment has allowed businesses to limit their salary increases. Crude oil prices traded in a volatile manner, falling as much as 2.3% before recovering to settle the day with a 0.3% loss at $109.42 per barrel. Commodities as a whole fell 0.5%.

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