August 5, 2011

Weekly News Roundup

Apologies to the blog readers for this very late news roundup. It has been a busy week full of meetings and conference calls. The good part is that there had been a lot of green news as well. Have a great weekend everybody!

DuPont expands in solar
DuPont has acquired California-based Innovalight Inc., a company specializing in advanced silicon inks and process technologies that increase the efficiency of crystalline silicon solar cells. DuPont exceeded $1 billion in revenue from sales into the photovoltaic market in 2010, and has set a goal to reach $2 billion by 2014.

Enerkem closed $30m financing
Waste-to-biofuels and chemicals company Enerkem closed a C$29m ($29.6m) in financing through corporate equity (C$14.5m) and corporate debt (C$14.2m) transactions. As part of the equity financing round, The Westly Group, Fondaction CSN and Quince Associates, L.P. join existing investors Valero Energy, Waste Management, Rho Ventures, Braemar Energy Ventures and Cycle Capital, who had each invested in the recently announced C$59 million equity tranche.

BIOX improves glycerin grade
BIOX has secured funding to undertake upgrades at its Hamilton (Ontario, Canada) biodiesel facility to improve the quality of its glycerin by-product from crude to technical grade, which currently has wholesale market value of 30c.-40c./lb. Crude glycerin by-product from BIOX's biodiesel production has limited market applications and requires storage and handling costs that exceed its market value. Installation of new equipment will take place in early 2012 during planned spring maintenance.

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