Read Larry Connors' blog – Short Term Trading Strategies
Today's news alerts include: Aerojet and Solar Power, Inc. Announce 3.5 Megawatt Solar Installation at Aerojet's Sacramento Site
Aerojet Project Will Be One of the Largest Industrial Installations in the U.S.
ROSEVILLE, Calif. & SACRAMENTO, Calif., Jun 08, 2009 -- Aerojet, a GenCorp (NYSE:GY) company, and Solar Power, Inc. ("SPI") (OTCBB:SOPW) announced jointly today that they have entered into an agreement to build a 3.5 megawatt solar system at Aerojet's Sacramento, California facility. The site is located within the Sacramento Municipal Utility District (SMUD).
This is the first solar system Aerojet has installed and it is a significant part of the company's environmental and sustainability initiatives. During its first year of use, the Aerojet system is expected to offset approximately 4,200 tons of carbon dioxide, 16.7 tons of sulfur dioxide and approximately 6.5 tons of nitrogen oxide that would have otherwise been produced using fossil fuel power production. The first-year net clean energy benefits equate to offsetting approximately 8,270,000 car miles driven or the clean air benefits realized from planting 976,520 trees. With a system life expectancy of 25 years, the cumulative life-cycle environmental offsets for a system of this scope are significant.
All of the power generated by the system will be utilized by Aerojet operations. "The electricity created by this solar facility provides over 20% of the power required to operate our extensive groundwater remediation program," said Scott Neish, president of Aerojet. "This initiative is a major step in our efforts to help the environment, reduce our carbon footprint, and return approximately 20 acres of our significant land holdings in the Sacramento area to beneficial use."
The solar array will be ground mounted utilizing a single-axis tracking system, designed to follow the course of the sun throughout the day to maximize electricity production. The solar array will consist of approximately 18,000 SPI 200 watt modules mounted atop 12 tracking arrays, covering more than 20 acres of the Aerojet site, which is located approximately 10 miles from the California state capitol.
"During the RFP process we competed with most of the major U.S. solar firms for this project. We are very proud to have been selected and we look forward to working with the Aerojet and SMUD teams throughout the project's execution," said Steve Kircher, CEO of Solar Power, Inc. "The Aerojet installation will be one of the largest single-site industrial installations in the U.S., and to have it take place here, in close proximity to our international headquarters, where so many of our employees live makes it even more important to us. The system will serve Aerojet and our community; it will be installed by people from our region and will help to improve our environment."
Installation of the 3.5 megawatt system is expected to be completed in November of this year. SMUD is scheduled to interconnect the system to the power grid in November as well. "SMUD is a utility solar pioneer here to provide energy solutions and a sustainable energy future for our customers," said John DiStasio, SMUD general manager and CEO. "We look forward to working with both Solar Power, Inc. and Aerojet as this project comes to fruition."
About Solar Power, Inc.:
Founded in 2005, Solar Power, Inc. is a vertically integrated solar energy solution provider offering the North American commercial and public sector building markets a complete solution through a single brand. The company's Yes! Solar Solutions(TM) subsidiary provides the U.S. small- to mid-sized business and residential market segments with turnkey PV solar systems through a growing retail franchise network. Throughout Europe and Asia, the company sells its products direct to distributors and turnkey solutions providers. Solar Power, Inc. operates from its Roseville, California headquarters.
Solar Power, Inc. Safe Harbor Statement:
This release contains certain "forward-looking statements" relating to the business of Solar Power, Inc., its subsidiaries and the solar industry, which can be identified by the use of forward looking terminology such as "believes, expects" or similar expressions. The forward looking statements contained in this press release include statements regarding the Company's ability to execute its growth plan and meet revenue and sales estimates, enter into formal long-term supply agreements, and market acceptance of products and services. These statements involve known and unknown risks and uncertainties, including, but are not limited to, general business conditions, managing growth, and political and other business risk. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
About Aerojet:
Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the entitlement, sale, and leasing of the company's excess real estate assets. Additional information about Aerojet and GenCorp can be obtained by visiting the companies' Web sites at http://www.Aerojet.com and http://www.GenCorp.com.
GenCorp Safe Harbor Statement:
This press release contains forward-looking statements based on current management expectations. Numerous factors, including those related to market conditions and those detailed from time to time in GenCorp's filings with the Securities and Exchange Commission, may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine GenCorp's future results are beyond the ability of GenCorp to control or predict. These statements are subject to risks and uncertainties and, therefore, actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. GenCorp undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
About SMUD:
As the nation's sixth largest publicly owned utility, SMUD has been providing low-cost, reliable electricity for more than 60 years to Sacramento County (and a small portion of Placer County). SMUD is a recognized industry leader and award winner for its innovative energy efficiency programs, renewable power technologies, and for its sustainable solutions for a healthier environment. For more information visit us at smud.org.
About PennyStockChaser.com
PennyStockChaser.com's alerts are daily e-mail on stocks that are hot in the market. These include stocks with huge volume, penny stocks, new 52 weeks high or lows, stocks with technical indicators and much more. Our stock alerts have done very well in the last couple of weeks.
PennyStockChaser.com is a leading stock website that provides free daily alerts on stocks that are moving up. PennyStockChaser.com also tracks small cap stocks that are on the brink of exploding. We also feature companies on our website with research report, analysis, and newsletters. To feature a company on our web site please contact us at editorial@pennystockchaser.com
PennyStockChaser.com is an independent electronic publication that provides information on selected publicly traded companies. PennyStockChaser.com is not a registered investment advisor or broker-dealer. PennyStockChaser.com's affiliates, officers, directors and employees may buy and sell additional shares in any company mentioned herein and may profit in the event those shares rise in value. Please do your own Due Diligence before investing in any of the stocks mentioned above.
CONTACT: Editorial Staff, PennyStockChaser e-mail: editorial@pennystockchaser.com WWW: http://www.pennystockchaser.com
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
