AltEnergy Investor

EPOD International plan IPO

EPOD International, is planning a public listing. The company claims to be the leaders in electric power storage systems for the Distributed Generation, Co-Generation, Wind and Solar Power markets.

Of particular interest to me is their recent teaming-up with a Canadian Wind Power company to test commercial levels of energy storage during off-peak times to sell back into the grid during peak hours, using the EPOD EMT Energy Storage system.

Windpower's greatest weakness is that it is not predictable and the power it produces at night is almost worthless. Yet the subsidy structure all over the world dictates that it is worth exactly the same price. It's fascinating that the company values the wind energy storage market at $20 billion - double the existing wind power market !

If EPOD really does crack energy storage on that scale, we could see an end to the spikes in spot electricity prices, sometimes multiples of the ordinary price.

Argent Energy back on the IPO trail

As per my earlier blog about British Biofuels being lifted by the announcement by the government to mandate 5% biofuels by 2010, Argent Energy, the Scottish renewable energy group, which is credited with having created the world’s largest biodiesel plant, is preparing to float early next year. 

The company is already capable of producing 50 million litres - almost equivalent to 5% for Scotland !

So you can see why they welcome the new captive client base that will have to appear in England, Wales and Northern Ireland . . .

EcoSecurities plans IPO

Irish Carbon Credit trader EcoSecurities today said that it intends to float on AIM, with speculation that it could a fetch a price tag of some €200m. If it goes ahead, it will be joining "Trading Emissions" which listed earlier this year.

Both companies will be looking for the price of carbon to rise substantially from the EUR 21 - 24 range where it has been stuck for a few months. Trading Emissions - I suspect - would like to see a return the early volatility since the launch of carbon trading in Europe in December 2004.

I have more than a few doubts about carbon trading - a highly artificial market. A key question is whether it will be sustained beyond the period of 2012 and extended outside of Europe. A more pressing issue will be that Britain may suspend carbon trading if - as some have predicted - a harsh winter leads to blackouts.

China's SunTech Power looks to list on NYSE

According to this article from Reuters, China's SunTech Power is planning to raise $350 m in an IPO in New York.

The company is already big by solar standards, in the top 10 of manufacturers, with a capacity of 120 MW per year. It would appear to be very well placed to profit from China's greater appetite for alternative energy - just boosting the renewables target for 2020 from 10% to 15%. China's new renewable energy law comes into force at the beginning of next year.

Xantrex Technology aims for profitability after California wind power deal

Xantrex Technology Inc has just announced a sales deal with recently London aim-listed Clipper Wind Power for $12 million of wind power converters.

Xantrex sees itself as a world leader in advanced power electronics. With the major renewables such as solar and wind providing power not in your precisely chosen quantity or even exactly when you want it, power electronics are vital to smooth out the power supply.

As renewables make ever greater inroads, it will still have to be on the back of better electronics managing the power. That's why Xantrex is important.

Outside of India - where power supplies are extraodinarily unreliable - there aren't many companies doing this. Xantrex though, is one of them.

Suzlon Energy IPO off to a flying start

Suzlon Energy - India's wind turbine manufacturer who make machines from 350 kw to 2 mw in size - completed its listing on the Bombay Stock Exchange, with the issue reportedly oversubscribed more than 45 times. Suzlon  raised a total of INR 13.6bn (USD 310m).

The company also delivers turnkey wind farms (ones with all the necessary turbines and electrical infrastructure in place literally ready to turn on), most notably Asia's largest in  Vankusawade of 201 mw.

What's impressive is that Suzlon is reaching the required design standards of West European manufacturers - Germanische Lloyd - and is able to sell turbines as far afield as Minnesota USA. Assuming the de-industrialization of Western Europe continues, expect Suzlon to be a key benefactor.

Babcock and Brown Wind Partners

Australian financial group Babcock and   Brown announced plans to list its partially owned investment vehicle,   Global Wind Partners, on the Australian Stock Exchange. The company will be   renamed Babcock and Brown Wind Partners (BBWP) and  market capitalisation expected to be in the region of AUD   657m-692m.

The newly-listed Babcock & Brown Wind Partners (BBWP) will initially hold stakes in 15 wind farms across Europe, the United States and Australia, with combined generation capacity of 672 MW.

This is one of the widest geographical wind portfolios I've ever seen - a good thing. Each nation's annual wind output can vary hugely, as in Europe in 2003.

Q Cells AG set to become world's largest Renewable Company

Just before its IPO, German PV cell manufacturer Q-Cells has raised the price range for its   Deutsche Bourse IPO from EUR 29-34 (USD 35-41) to EUR 35-38 (USD 42-46).

What this means is that the company could very well capitalize at over EUR 1.4bn   (USD 1.7bn). Large  capitalizations matter because it makes it easier for big investment funds to take an interest, hitherto a barrier for institutional investors in the alternative energy universe.
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Q-Cells AG as the world’s largest independent producer of mono- and polycrystalline, silicon-based high-efficiency solar cells.

Q Cells sets IPO price range for Oct. 5th

Q Cells has set it's target IPO range at between 29 and 34 euros per share for its listing on October 5th.

This is a bellweather IPO for German solar companies - the first large one since the inconclusive National Elections. The question is, can Germany's solar stock boom continue?

Ersol Solar Energy's IPO suggests that it can. At the time of writing, the shares are 10 times over-subscribed.

Clipper Windpower - IPO in London

US based Clipper Windpower has just completed a successful IPO on London's AIM stockmarket, raising $135m.

Clipper Windpower describes itself as a rapidly growing wind energy technology company which manufactures the 2.5 MW Liberty turbine and actively develops wind power generating projects in the Americas and Europe.

It's actually quite unusual in the wind industry to manufacture the turbines and develop the wind farms for sale. But you have to respect the pedigree of the Chairman and CEO, Jim Dehlsen who launched Zond Wind Corporation in 1980.

He has been in this business right from the start.

London Stock Exchange to hold Capital Markets Day for Renewable Firms

London's Stock Exchange recently announced a Capital Markets Day for the Renewable Sector set for October 13th.

Those companies in the sector - listed or planning to do so- will have the opportunity to meet a number of small-cap funds who want to know more about them.

SunPower - Nasdaq IPO planned by Cypress

SunPower, a company owned by NYSE listed Cypress Semiconductor Corp is planning an IPO on the Nasdaq in Q4 2005.

The filing provides for an offering of up to $100 million of common stock, plus an option granted to the underwriters to purchase up to an additional $15 million to cover over-allotments.

And according to this article, there are quite a few other solar companies also interested in IPOs - QCells,  ErSol Solar Energy AG and sources at wafer maker PV Crystalox Solar AG and component and systems maker Renewable Energy Corp AS (REC) all said they were considering listing in Europe.

Intelligent Energy - back on the IPO trail

Intelligent Energy is now planning again to IPO, following a failed reverse takeover of Dickie Walker Marine. Dickie Walker’s securities were delisted on August 17th after failing to achieve compliance with the NASDAQ SmallCap regulations, and hence the two companies are discussing a mutual release from the proposed acquisition.

Of particular interest is that the company claims to have developed a class-leading power to volume performance in excess of 2.5kW per litre for their PEM fuel cell.

Centrotec plans solar spin-off

Centrotec Sustainable AG is planning to hive off its solar division and float it in Spring 2006.

There has been a pretty fantastic boom in German solar stocks the last couple of years and solar businesses have never been valued higher. One can't be sure that this will last until Spring next year, but if it does, Centrotec should do well.