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Oct 01, 2008 -- Green Globe International, Inc. (OTCBB: GGLB), which owns the Green Globe brand, the premier international green brand, today announced an Advisory Board and consulting agreement with Dr. Murray C. Simpson, a Senior Research Associate at Oxford University Centre for the Environment and a leading expert in sustainability for the tourism industry and the issues surrounding tourism and climate change. As a member of the company's Advisory Board, Dr. Simpson will advise management and the Board of Directors on a variety of business matters. Under terms of his agreement with the company, Dr. Simpson will also provide assistance in the partnering of client countries and destinations under Green Globe International's Sustainability and Carbon Neutrality Plans. Dr. Simpson has extensive experience in sustainable development, climate change, tourism and the environment in locations around the world, including more than 15 island states in the Caribbean. "We believe th at Dr. Simpson can and will provide invaluable assistance to Green Globe International as a member of the Advisory Board, as well as in our efforts to implement the company's comprehensive Sustainability and Carbon Neutrality Plans for tourism destinations in the Caribbean region," stated Steven R. Peacock, CEO and managing director of Green Globe International. "His expertise working in the Caribbean region on the issues of sustainability, tourism and the environment makes him an ideal representative for the Green Globe program as we seek to introduce sustainability plans throughout the region." Green Globe International's Sustainability and Carbon Neutrality Plan for tourism destinations include a carbon offset strategy, and a sustainability strategy, Green Globe benchmarking and certification, and a communications program. Dr. Simpson commented, "I am pleased to become an Advisory Board member in Green Globe International and look forward to being involved in the developme nt and implementation of its Sustainability and Carbon Neutrality Plan, initially in the Caribbean and eventually around the world. The Sustainability and Carbon Neutrality Plan is well-timed, pragmatic and an imperative for countries and destinations worldwide."
Oct 01, 2008 -- Ronn Motor Company (PINKSHEETS: RNNM | Quote | Chart | News | PowerRating) announced today it would begin a research and development program to study the more efficient use of ethanol and hydrogen blended fuels, including improved fuel mapping. Ronn Maxwell, CEO, stated, "We will use electronic controls to vary the air/fuel mixture to optimize the efficiency in the process." Ronn Motor Company's eco-exotic hybrid, the Scorpion(TM), is the first production automobile to produce Hydrogen on Demand (HOD) through its proprietary H2GO(TM) system. This car will be ethanol compliant and engineered to burn 70% gasoline or ethanol and approximately 30% hydrogen, thereby lowering fuel costs and greatly reducing emissions. While hydrogen and ethanol have traditionally been used separately, the combination of these two alternative fuels gives consumers more choices and reduces dependence on foreign oil. Ethanol is produced from renewable sources like corn and sugar cane. Brazil has successfully transitioned its economy from a traditional petroleum based infrastructure to ethanol, giving this country world recognition as a leader in alternative fuel adoption. Most of the large automotive manufacturers offer ethanol-approved vehicles. As ethanol becomes readily available and more widely accepted, it will be available at most retail service stations. COO Damon Kuhn added, "Ronn Motor Company is dedicated to alternative fuel strategies to help lower our dependence on foreign oil and we want to give our customers access to these solutions. To the best of our knowledge, no other automobile manufacturer is working on the possible combination of these processes."
Oct 01, 2008 -- Albemarle Corporation, (NYSE: ALB | Quote | Chart | News | PowerRating) a global leader in specialty chemicals and sustainable clean energy solutions, has signed a technology cooperation agreement with UOP LLC, a Honeywell company, and Petroleo Brasileiro S.A. - Petrobras to accelerate the commercialization of UOP's innovative Catalytic Crude Upgrading (CCU) process technology. Under the terms of the agreement, the three companies will collaborate to demonstrate the performance and quality of this innovative technology as a cost effective option to upgrade heavy crude oils and bitumen-derived crude. The process reduces viscosity of the crude allowing it to travel easily through pipeline transport with the use of external diluting agents. The CCU process provides an additional alternative to address the challenges inherent with heavy crude and the logistics associated with increasingly remote drilling sites. Under the agreement, Albemarle, a recognized leader in catalyst design and manufacture, a nd Petrobras, with its deep knowledge and experience with Fluid Catalytic Cracking (FCC) catalyst as well as heavy crude processing, will provide an improved FCC catalyst solution to be used in this proprietary process. UOP will provide the technology, equipment and system design. "With the increasing demand for heavy oils and the decreasing availability of suitable, cost effective diluting agents, we believe that the CCU technology will be a key factor in meeting the world's future demand for crude," said Albemarle Vice President for FCC Scott Martin. "Albemarle's proven capabilities in FCC catalyst development fit perfectly with the needs of this technology, and we are pleased to add to our portfolio of clean energy solutions through this agreement."
Oct 01, 2008 -- ADA-ES, Inc. (NASDAQ: ADES | Quote | Chart | News | PowerRating) announced today the formation of Crowfoot Development, LLC (Crowfoot), a joint venture with Energy Capital Partners, focused on the production of activated carbon for the mercury emissions control market for coal-fired power plants. Previously, ADA-ES announced the commencement of construction of the largest AC production facility in the United States, which Crowfoot is constructing in northwest Louisiana through its wholly-owned subsidiary Red River Environmental Products, LLC. The first production line of this facility will be capable of producing 125 to 175 million pounds of AC per year and is expected to come on-line in 2010. In addition, the air permit for the facility allows for a second production line, which, if constructed, would be capable of producing up to an additional 175 million pounds of AC per year. Crowfoot has plans to develop and construct this second production line and additional facilities in the future. The total capital cost for the first production line has been estimated at $350 million. Pursuant to the joint venture agreement, ADA-ES and ECP will provide, subject to certain conditions, the equity capital required to construct the first production line. The first production line is being built under an engineering, procurement and construction contract with BE&K Construction Company. Two major power generators have signed long-term contracts to purchase AC from the facility to reduce mercury emissions at their coal-fired plants. In addition, ECP has entered into a securities purchase agreement, pursuant to which ECP will purchase, subject to shareholder approval and the satisfaction of certain other conditions, 3.6 million shares of convertible preferred stock of ADA-ES, the proceeds of which will be used by ADA-ES to make equity contributions to Crowfoot pursuant to the joint venture agreement. ADA-ES will file a Form 8-K which will provide additional details on the agreemen ts between ADA-ES and ECP. Dr. Michael D. Durham, President and CEO of ADA-ES, commented, "We are thrilled to be partnering with ECP. With its $2.25 billion fund established for energy infrastructure projects, ECP is able to provide the resources to help us implement our plans to serve the growing demand in the power plant mercury control market which include building multiple AC production plants."
Market Wrap for October 1st, 2008 Stocks traded in a roller coaster fashion before settling with a modest loss on Wednesday as investors digested uncertainty surrounding the government's financial relief plan, a disappointing manufacturing reading and news that Warren Buffett is making another major investment. The S&P 500 fell as much as 2.2% at its low, and climbed to a gain of 0.1% at its high, before settling with a loss of 0.5%. Helping the market pare its losses was word that Warren Buffett is investing $3 billion in General Electric (GE 24.47, -1.03). GE announced late in the afternoon that it will raise at least $12 billion in a public common stock offering and is selling $3 billion in preferred stock yielding 10% to Warren Buffett's Berkshire Hathaway (BRK.A 135,600, +5,000). Berkshire will also get $3 billion in warrants, granting the option to purchase GE at $22.25 per share within the next five years. GE's move to shore up investor confidence came after its stock fell as much as 10% earlier in th e session. Financial market relief plan negotiations are ongoing. According to reports, the Senate is going to vote on its version of the plan this evening. The Senate version is said to include provisions for an increase to the FDIC's deposit insurance limit and tax breaks for business and alternative energy. It's unclear if the House of Representatives supports the plan. In economic news, manufacturing contracted by a larger-than-expected amount in September, although it does not necessary mean the broader economy is contracting, according to the Institute for Supply Management's national survey. The ISM Manufacturing Index fell to 43.5 from 49.9 (consensus 49.5) -- its lowest level since October 2001. ISM prices paid, which includes energy and food but excludes crude oil, fell a sharper-than-expected 23.5 to 53.5 (consensus 73). August construction spending was unchanged month-over-month, which was better than the expected decline of 0.5%, although the market paid little a ttention to this report. On average, construction spending has declined 0.3% each month in 2008. In commodity trading, Crude oil futures fell 2.0% to $98.61 per barrel and gasoline fell 3.7% to $2.37 per gallon. The government's weekly energy inventory report showed a larger-than-expected increase in crude inventories, and an unexpected increase in gasoline stockpiles. In the end, four of the ten economic sectors posted a gain, led by financial stocks (+2.2%). Industrials (-2.6%) was the main laggard following the weak manufacturing data. Tech (-1.1%) also faced selling pressure. IBM (IBM 110.14, -6.82) dropped 6%, the most in three years, on market speculation that the company was going to issue an earnings warning. Treasury prices rose across all constant maturities as investors remained concern about the credit markets. The benchmark 10-year note rose 24 ticks, sending its yield down to 3.73%.
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