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Must be all that Forbes PR over the weekend.
Famous!
lol
George's dog, Astro, sounded alot like Scooby-Doo. They were voiced by the same actor, who was also the voice of Bam-Bam, Boo-Boo and Ranger Rick.
Bam-Bam was the son of Barney and Betty who lived next to Fred Flintstone who looks like Corey. There, back on-topic.
lol
Good eye! That was 4.5 million shares added to the float in the past month.
When do those divy shares come off restriction?
Anyone?
gl
From the TA, as of today:
Authorized 100,000,000
Outstanding 61,320,596
Restricted 25,982,392
gl
RESULTS OF OPERATIONS
COMPARISON OF THE NINE AND THREE MONTHS ENDED SEPTEMBER 30, 2010 TO THE NINE AND THREE MONTHS ENDED SEPTEMBER 30, 2009
REVENUE . Revenues for the nine and three months ended September 30, 2010 were $11,233,949 and $4,975,807 respectively, compared to $918,260 and $61,077 for the corresponding periods in 2009. Revenues for each of the 2010 and 2009 periods were attributable to the sales of Products and software and services to our marquee customer. Revenues for the nine and three months ended September 30, 2010 related to the sales of Products totaled $11,177,368 and $4,956,947, respectively, compared to $871,758 and $48,505 for the corresponding periods in 2009. Revenue from the sale of software and services for the nine and three months ended September 30, 2010 were $56,581 and $18,860, respectively, compared to $46,502 and $12,572 for the corresponding periods in 2009. The increase in revenue during the 2010 periods compared to the corresponding periods in 2009 reflects an increase in delivery of Ambient’s X-3100 Product base to fulfill purchase orders received from our marquee customer.
13
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COST OF GOODS SOLD . Cost of goods sold for the nine and three months ended September 30, 2010 were $6,779,743 and $2,997,620, respectively, compared to $935,188 and $178,334 for the corresponding periods in 2009. Cost of goods sold included all costs related to manufacturing and selling Product and consisted primarily of direct material. Cost of goods sold for the 2010 and 2009 periods included an inventory write down of excess and obsolete inventory. The increase in cost of goods sold during the 2010 periods as compared to the corresponding periods in 2009 reflected the increase in sales and production to fill orders placed by our marquee customer.
GROSS PROFIT . Gross profit for the nine and three months ended September 30, 2010 period were $4,454,206 and $1,978,187 respectively, compared to a loss of $16,928 and $117,257 for the corresponding periods in 2009. The gross profit on Product sales amounted to $4,397,625 and $1,959,327, respectively, for the nine and three month periods ended September 30, 2010, compared to a loss of $63,430 and $129,829 for the corresponding periods in 2009. Our overall gross margins increased to 40% for each of the nine and three month periods in 2010 compared to a gross loss of 2% and 192% in the corresponding periods in 2009. The increase in the gross margin percentages in the 2010 periods reflect the introduction of the X-3100 which allowed for a stable production and delivery schedule throughout 2010. The 2009 periods were negatively affected due to low volume pricing from our contract manufacturer, and a write down of inventory of excess and obsolete inventory resulting from the transition from second to third generation technology.
RESEARCH AND DEVELOPMENT EXPENSES . Research and development expenses consisted of expenses incurred primarily in designing, developing and field testing our smart grid solutions. These expenses consisted primarily of salaries and related expenses for personnel, contract design and testing services, supplies used and consulting and license fees paid to third parties. Research and development expenses for the nine and three months ended September 30, 2010 period were $4,226,600 and $1,268,046, respectively, compared to $3,265,443 and $1,248,338 for the corresponding periods in 2009. The increase in research and development during the 2010 periods was due primarily to the increase in personnel and consultants for the continued development of smart grid applications to be incorporated into the Ambient platform as well as the continued development of our fourth generation communications node. We expect that our research and development expenses will remain stable and or increase as we continue to focus our efforts on developing more robust solutions and additional value-added functionality for the Ambient Smart Grid® communications platforms.
14
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OPERATING, GENERAL AND ADMINISTRATIVE EXPENSES . Operating, general and administrative expenses primarily consisted of salaries and other related costs for personnel and executives, business development, and other administrative functions. Other significant costs included professional fees for legal, accounting and other services. General and administrative expenses for the nine and three months ended September 30, 2010 were $3,524,104 and $1,237,616 respectively, compared to $3,143,977 and $1,007,077 for the corresponding periods in 2009 The increase in operating, general and administrative expenses during the 2010 periods as compared to the 2009 periods was due to the increase in efforts to market and commercialize the Ambient Smart Grid® communications platforms. As we continue to increase our efforts to market and commercialize the Ambient Smart Grid® communications platform, we expect our operating, general and administrative expenses to increase for the remainder of the fiscal year 2010.
STOCK BASED COMPENSATION . A portion of our operating expenses were attributable to non-cash charges associated with the compensation of consultants and employees through the issuance of stock options and stock grants. Stock-based compensation is a non-cash expense and will therefore have no impact on our cash flows or liquidity. For the nine and three months ended September 30, 2010, we incurred non-cash stock-based compensation expense of $72,187 and $36,997, respectively, compared to $704,057 and $232,995 for the corresponding periods in 2009.
INTEREST AND FINANCE EXPENSES . For the nine and three months ended September 30, 2010, we incurred interest of $29,775 and $416, respectively, compared to $481,489 and $148,156 for the corresponding periods in 2009. The interest related primarily to our 8% Secured Convertible Promissory Notes, which were issued in July and November of 2007 and January 2008. Additionally, for the nine and three months ended September 30, 2010, we incurred non-cash interest of $183,609 and $0, respectively, compared to $4,310,211 and $281,913 for the corresponding periods in 2009. This interest related to the amortization of the beneficial conversion features and deferred financing costs incurred in connection with the placement of our convertible promissory notes. These costs are amortized to the date of maturity of the debt unless converted earlier. In January 2010, Vicis converted the remaining $10 million outstanding on the notes. Following the conversion of the notes, we no longer have any long-term debt. In addition, on June 30, 2009, we agreed to modify the terms of the expiring Class A warrants. Under the new terms the warrants were exercisable through August 31, 2009 and the exercise prices were reduced from $0.20 to $0.15 per share. The resulting charge due to the modification was $1,147,167 and was reflected as additional interest expense.
GAIN ON CONVERSION OF DEBENTURES . The Company determined and adjusted the amount of accrued interest owed to Vicis Capital Master Fund after the notes were converted as discussed above. For the three and nine months ended September 30, 2010, the Company recorded a gain on the conversion of the debentures totaling $251,840. Such gain represents the reversal of accrued interest recorded in previous periods.
LIQUIDITY AND CAPITAL RESOURCES
Management believes that cash on hand, plus anticipated revenue from firm purchase orders, and the $5 million remaining and available from our equity based financing arrangement described below, will allow us to meet our operating requirements for at least the next twelve month. As noted above, as of September 30, 2010 we have, received and accepted from Duke Energy, purchase orders for the Product amounting to approximately $46.1 million. However, it is conceivable that we may raise additional funds to expand existing commercial deployments, consider investment opportunities, and/or to satisfy any additional significant purchase order that it may receive and to allow for shortfalls in anticipated revenue. At the present time, we do not have commitments for additional funding beyond the committed equity based financing arrangement described below.
15
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Cash balances totaled $1,041,375 at September 30, 2010 and $987,010 at December 31, 2009.
Net cash used in operating activities for the nine months ended September 30, 2010 was $2,694,851 and was used primarily to pay ongoing research and development and general and administrative expenses.
Net cash used in investing activities totaled $367,118 during the nine months ended September 30, 2010 and was used for additions to property and equipment.
Net cash provided by financing activities totaled $3,116,334 during the nine months ended September 30, 2010 and represented proceeds from the issuances of common stock under the equity based credit line, warrants, options, and was net of the payments on capitalized lease obligations.
A discussion of our recent financings follows.
In July 2007, November 2007 and January 2008, we entered into Securities Purchase Agreements with an institutional investor, Vicis Capital Master Fund ("Vicis"), and raised gross proceeds of $12.5 million. The notes (the “Vicis Notes”) issued under the Securities Purchase Agreements had a term of three years and were payable between July 2010 and January 2011. The outstanding principal amounts of the Vicis Notes were convertible at the option of Vicis into shares of Common Stock at an original conversion price of $0.035 per share subject to certain adjustments. In November 2008, we and Vicis entered into a Debenture Amendment Agreement (the “Debenture Amendment Agreement”), pursuant to which Vicis invested in the Company an additional $8 million. In consideration of Vicis’ investment, we reduced the conversion price on the Vicis Notes from $0.035 per share to $0.015 per share. In November 2008, the conversion rate was reduced to the current rate of $0.015 per shares, subject to certain adjustments. On August 10, 2009, Vicis converted $2.5 million of the Vicis Notes into 166,666,667 shares of our common stock. On January 21, 2010, Vicis converted the remaining $10 million balance of the Vicis Notes into 666,666,667 shares of our common stock. Following the conversion of the Debentures, we no longer have any long-term debt.
On November 16, 2009, we entered into a Securities Purchase Agreement (the "Agreement") with Vicis, which agreement was subsequently amended on January 15, 2010 pursuant to which Vicis furnished to us access to an $8,000,000 equity based credit line. Pursuant to the Agreement, Vicis established an escrow account (the “Holdback Account”) into which it deposited $8,000,000. If our cash resources fall below $1,500,000, we are entitled to make drawdowns in the amount of $500,000 from the Holdback Account in consideration of which, we are obligated to issue to Vicis, 5,000,000 shares of our Common Stock, as well as Series G Warrants for a corresponding number of shares of Common Stock per drawdown. Any amounts in the Holdback Account that are not disbursed on or prior to June 30, 2011 (as such date may be extended by mutual agreement of the parties) will be returned to Vicis.
Between January 19 and November 8, 2010, we effected six draw-downs in the aggregate amount of the $3,000,000. We have remaining at our disposal in the account $5 million. Ambient may draw down on the Holdback account as needed until the entire $8,000,000 is exhausted. The warrants are exercisable through the second anniversary of issuance at a per share exercise price of $0.25.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7542358-821-65803&type=sect&TabIndex=2&companyid=6643&ppu=%252fdefault.aspx%253fcik%253d1047919
Digital Power Reports Financial Results for the Third Quarter Ended September 30, 2010
FREMONT, Calif., Nov. 3, 2010 /PRNewswire-FirstCall/ -- Digital Power Corporation (NYSE Amex: DPW) today announced its financial results for the third quarter ended September 30, 2010.
Revenues increased by 87% to $3,186,000 for the quarter ended September 30, 2010, compared to $1,708,000 for the quarter ended September 30, 2009. Gross margins increased to 36.1% for the quarter ended September 30, 2010, compared to 30.0% for the quarter ended September 30, 2009. Net income was $303,000 for the quarter ended September 30, 2010, compared to a net loss of $205,000 for the quarter ended September 30, 2009.
Commenting on the results, Amos Kohn, President and CEO, stated, "We are very pleased to report very strong growth in revenue and net income for our third quarter. In addition to a significant increase in both commercial and military product revenues, we posted production level revenues of one of our first full custom developments. This is in line with our earlier stated strategic decision to reduce our dependence on standard, commodity products. Further, we began the delivery of another custom solution powering fiber optic broadband network. This challenging design requirement filled a need for a wide range unique AC quasi-square wave input, operating over an extreme temperature range with free convection cooling."
About Digital Power:
Digital Power Corporation is a solution-driven organization that designs, develops, manufactures and sells high-grade customized and flexible power system solutions for the most demanding applications in the medical, military, telecom and industrial markets. We are highly focused on high-grade and custom product designs for both the commercial and military/defense markets, where customers demand high density, high efficiency and ruggedized products to meet the harshest and/or military mission critical operating conditions. We are a California corporation originally formed in 1969, and our common stock trades on the NYSE Amex under the symbol "DPW". Digital Power's headquarters are located at 41324 Christy Street, Fremont, California, 94538-3158; Contact: Assaf (Assi) Itshayek, CFO, 510-657-2635; Website: www.digipwr.com.
http://finance.yahoo.com/news/Digital-Power-Reports-prnews-3352980006.html?x=0&.v=1
Wow, very nice...gave up watching this a while back out of sheer boredom. What's it all about today? Why the volume?
GL
Metalico, Inc. (MEA) Q3 2010 Earnings Call October 29, 2010 10:00 am ET
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDAyMDY5fENoaWxkSUQ9NDA5NzIxfFR5cGU9MQ==&t=1
.... I would now like to turn the call over to Mr. Carlos Aguero, President and Chief Executive Officer of Metalico. Please go ahead.
Carlos Aguero
Good morning and thank you for joining today's call. With me here today is Michael Drury, our Executive Vice President. Following the presentation, we'll be available to answer any questions. We will also post a transcript of our remarks and the question-and-answer session on the Metalico website when the transcript becomes available after the call.
This morning Metalico released financial results for the third quarter of 2010 showing improvement in sales, revenue, operating income and EBITDA as compared to the same period in 2009. The results also show improvements over the second quarter 2010 in operating income, EBITDA and net income even with the small decline in sales. This marks our third consecutive period of increase in net income since the declared end of the economic crisis.
Let’s go to quarter’s highlights compared to 2009. Sales increased 50% to 137 million, an increase of $45.5 million or 91.5 million reported. EBITDA rose 22% to 13.8 compared to 11.3, operating income increased 25% to 9.6 million compared to operating income of 7.7. Net income was 4.5 million or $0.10 per diluted share compared to adjusted net income of 2.7 or $0.08 per diluted share. The prior year’s reported net income of 5.1 million or $0.12 benefited from one-time gain, net of income taxes and fair value adjustments totaling $2.4 million representing $0.04 per share compared to a benefit of $168,000 for similar items that occurred in the current quarter.
Unit volume shipped increased 14% for ferrous scrap and 34% for non-ferrous scrap. Platinum group metals, PGM’s unit volumes increased total 32% and product shipments decreased by 15% however operating income in the lead segment increased by 57%. The company’s scrap metal segment generated 8.6 million in operating income in the quarter compared to 7.8 million last year. The lead fabricating segment generated 1.1 million of operating income compared to 700,000 in the prior year and 15% fewer shipments.
more...
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDAyMDY5fENoaWxkSUQ9NDA5NzIxfFR5cGU9MQ==&t=1
What Does Golden Cross Mean?
A crossover involving a security's short-term moving average (such as 15-day moving average) breaking above its long-term moving average (such as 50-day moving average) or resistance level.
Investopedia explains Golden Cross
As long-term indicators carry more weight, the Golden Cross indicates a bull market on the horizon and is reinforced by high trading volumes. Additionally, the long-term moving average becomes the new support level in the rising market.
Technicians might see this cross as a sign that the market has turned in favor of the stock.
http://www.investopedia.com/terms/g/goldencross.asp
MEA Jan 2011 5.000 Call
.20/.40
...after a savage pillaging on strong but nearly missed q3 earnings on Friday.
Metalico Q3 2010 Earnings Report:
http://phx.corporate-ir.net/phoenix.zhtml?c=180159&p=irol-newsArticle_Print&ID=1489162&highlight=
__________________________________________________________________
CRANFORD, NJ, Oct 29, 2010 (MARKETWIRE via COMTEX) --
Metalico, Inc. (NYSE Amex: MEA) today reported net income for the quarter ending September 30, 2010, of $4.5 million and earnings of $0.10 per diluted share on sales of $137 million, an increase of $45.5 million, or 50%, over same-quarter 2009 results. Operating income for the third quarter was $9.6 million, compared to $7.7 million in the prior-year. EBITDA (as defined below) increased by 22% to $13.8 million from $11.3 million for the same quarter in 2009.
Third Quarter Highlights
Year-over-year comparison to the third quarter of 2009 reflects continued improvement of operating performance:
-- Sales increased 50% to $137 million, an increase of $45.5 million over
$91.5 million.
-- EBITDA rose 22% to $13.8 million compared to $11.3 million.
-- Operating income increased 25% to $9.6 million, compared to operating
income of $7.7 million.
-- Net income was $4.5 million or $0.10 per diluted share, compared to
adjusted net income of $2.7 million, or $0.08 per diluted share. The
prior year's reported net income of $5.1 million, or $.12 per share,
benefitted from one-time gains (net of income taxes) and fair value
adjustments totaling $2.4 million or $.04 per share compared to a
benefit of $168,000 for similar items in the current quarter.
-- Unit volumes shipped increased 14% for ferrous scrap and 34% for
non-ferrous scrap.
-- Platinum Group Metal ("PGM") unit volumes shipped increased 32%.
-- Lead product shipments decreased by 15%; however operating income
increased by 57%.
-- Effective income tax rate was 41% versus 31% last year.
The Company's Scrap Metal segment reported $8.6 million in operating income in the quarter compared to $7.8 million for last year. Metalico's Lead Fabricating segment reported improved operating income of $1.1 million compared to $0.7 million.
Sequential Quarter Comparison
Compared with the second quarter of 2010, sales declined slightly but most measures of operating performance improved.
-- Sales of $137 million decreased 5% from $144.6 million.
-- EBITDA increased 29% to $13.8 million from $10.7 million.
-- Operating income increased 43% to $9.6 million from $6.7 million.
-- Net income of $4.5 million increased slightly from net income of $4.4
million.
-- Unit volumes shipped increased 16% for ferrous scrap and 1% for
non-ferrous scrap.
-- PGM unit volumes purchased and shipped fell by 13% and 19%,
respectively.
-- The Lead Fabricating segment's operating income improved substantially
despite a 2% reduction in product shipments.
-- Effective income tax rate was 41% versus 39%.
Volume and Price Comparisons
Excluding acquisitions, sales increased by $35.6 million, due to higher selling volumes amounting to $4.8 million and 35% higher average metal selling prices representing $30.8 million. Acquisitions added $9.9 million to sales for the quarter. Sequentially, quarterly volumes shipped increased for ferrous and non-ferrous, and fell for PGM and Lead Fabricating.
(Table: http://phx.corporate-ir.net/phoenix.zhtml?c=180159&p=irol-newsArticle_Print&ID=1489162&highlight=)
Carlos E. Agueero, Metalico's President and Chief Executive Officer, said, "We are generally pleased with the continued improvement in results to this point in 2010 compared to the prior year. Although our average scrap metal selling prices fell for most categories other than non-ferrous products, our operations produced quarterly and year-to-date EBITDA margins of 10.1%, meeting our internal target of 10%. We remain focused on margin generation and expanding the business while meeting or exceeding performance goals."
He added, "From a macro perspective, we remain bullish on commodity markets for both base metal and precious metal prices in the fourth quarter and into 2011. We anticipate that metal prices will be supported by recovering global manufacturing demand coupled with restrained scrap supply and augmented by accelerating weakness in the U.S. dollar and other major currencies, which favors holding real assets such as metals and other commodities."
Shareholders' Equity and Debt
Metalico's net working capital was $99.5 million and has improved by approximately $26.1 million since the start of the year. Debt outstanding increased by $9.4 million to $126.2 million compared to December 31, 2009, due primarily to the financing of increased receivables and inventory. Shareholders' equity increased by $15.0 million to $165.3 million as of the end of the quarter from $150.3 million as of the end of 2009.
As of September 30, 2010, Metalico had 46,451,085 common shares issued and outstanding. The Company has no outstanding preferred stock.
Metalico operates in the highly volatile and cyclical commodity metals industry and therefore deems it unreliable to provide earnings guidance. The Company's core business strategy emphasizes balanced growth of the ferrous, non-ferrous and PGM Scrap Recycling business through acquisitions and new facility development in existing and contiguous new markets.
Update and Outlook
During the third quarter ferrous scrap selling prices and related domestic steel mill demand decreased slightly while buy prices moderated and showed stability in the midst of fierce industry competition and a tight scrap generation environment. Non-ferrous volumes remained firm while prices rose modestly.
The slow industrial, demolition and obsolete scrap generation rates combined with slowly recovering U.S. and global metals demand should provide a favorable scrap price environment during the first half of next year.
Ferrous
The Company said that, after a small price correction early in the fourth quarter, industry expectations are for ferrous pricing to stabilize and slowly go up towards year-end. Domestic mills will likely curtail melting schedules in the fourth quarter which should be offset by tight supplies of many grades of prime scrap.
Non-Ferrous
Non-ferrous commodity pricing should likely be firm to rising for the remainder of 2010 and into 2011. Volumes purchased and sold should be slightly lower reflecting normal seasonal fluctuations characteristic of the slowest quarter of the year. Demand for non-ferrous scrap, particularly aluminum and copper, remains strong as diminished supply and strong export markets continue to pressure available scrap.
Aluminum De-ox
The Company believes demand for de-ox is moderating along with recent declines in steel production. Selling prices have been rising due to higher demand from aluminum product manufacturers and continued scarce scrap supply. Declines in steel industry capacity utilization in the fourth quarter could be offset early in 2011 and provide ongoing support for de-ox prices.
PGM
Pricing for PGMs should be positively influenced by continued weakness in the U.S. dollar and expanding regulation, as well as demand for precious metal from investors and increased global auto production. Particularly with palladium, the anticipated depletion of inventories and growing utilization could result in shortages that could cause prices to rise further amidst increased volatility. Metalico plans to increase material processing and shipments in the fourth quarter. Historically, as PGM prices rise more material comes to market. However, rising prices also draw increased competition.
Lead Fabricating
Metalico's lead segment expects to build upon its third-quarter successes in penetrating new markets, introducing new value-added products and continuing improvements in plant efficiency. The Company's lead scrap purchase and refining program is generating increased yields and continues to help lower our average costs and improve our competitive position.
About Metalico
Metalico, Inc. is a holding company with operations in two principal business segments: ferrous and non-ferrous scrap metal recycling, and fabrication of lead-based products. The Company operates twenty-four recycling facilities in New York, Pennsylvania, Ohio, West Virginia, New Jersey, Texas, and Mississippi and four lead fabricating plants in Alabama, Illinois, and California. Metalico's common stock is traded on the NYSE Amex under the symbol MEA.
EBITDA Reconciliation
The Company defines EBITDA as earnings before interest, stock-based compensation, accelerated amortization and other costs related to refinancing of senior debt, income taxes, depreciation and amortization, financial instruments fair value adjustments, gain on extinguishment of debt, and discontinued operations. EBITDA is considered non-GAAP financial information and a reconciliation of net income to EBITDA is included in the attached financial tables.
Forward-looking Statements
This news release, and in particular its "Industry Update and Outlook" section, contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, such as Metalico's expectations with respect to its results of operations for the fourth quarter of 2010 and beyond, commodity pricing, volumes, and trends. These statements may contain terms like "expect," "anticipate," "believe," "should," "appear," "estimate" and other words that convey a similar meaning, or are statements that do not relate strictly to historical or current facts. Forward-looking statements include statements with respect to Metalico's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond Metalico's control, and which may cause Metalico's actual results, performance or achievements to be materially different from future results, performance, expectations or achievements expressed or implied by such forward-looking statements. Factors that could cause such material difference are discussed in more detail in the Company's most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. All statements other than statements of historical fact are statements that could be forward-looking statements. Metalico assumes no obligation to update the information contained in this news release.
Wow! I've heard some convoluted conspiracy theories in my time at the rodeo but yours is right up there with the worst of them. (right out of the gate too!)
When it comes to money, people will say just about anything.
32 companies charging the Super Grid now
4:24pm EDT
http://www.reuters.com/article/idUS74452983320101030?pageNumber=1
The super grid, the theme of VentureBeat’snext GreenBeat conference, involves a bewildering array of technologies and companies from industry behemoths like GE and Cisco to disruptive young startups. Together, they’re taking existing efforts to build a smart power grid to the next level. With billions of dollars of untapped potential in the profitable collision of information technology, energy, and cleantech, it’s no wonder so many pioneers are staking out territory.
In this article, we cover the major fields of super-grid opportunity and the companies, large and small, playing in them. It’s not an exhaustive list, but rather a guide to the companies we believe are currently best positioned to charge up the super grid.
Power generation
One of the biggest challenges for the super grid is integrating sources of renewable energy like wind and solar power. The current electricity grid is most efficient when the power is being consumed at the same time that it is generated and when supply and demand are steady. With renewables, supply peaks unevenly since energy is not generated at a constant rate or at all times of the day.
Many small local sources of energy like homeowners selling back energy to the grid may also become available. A connected collection of these sources is called a microgrid and can be managed like a virtual power station.
The market for software to integrate renewables and microgrids with existing power generation seems to be at an early stage.Gridpointdelivers a suite of smart grid applications that aggregate and manage distributed sources of load, generation and storage including integration of renewables and electric vehicles. Homer Energyprovides modelling software to analyze and optimize power grids that incorporate high penetrations of renewable energy sources.Balance Energyproduces microgrid and renewable generation solutions which integrate and aggregate distributed generation and storage resources.
There is aglut of new companiesmaking solar microinverters and the software to manage them. A microinverter improves the efficiency of a solar array by allowing individual panels to operate independently. Normally panels are connected in a series and are only as strong as their weakest link, i.e. a panel which is shaded or soiled. Contenders includeEnphase,Abound,PVPoweredandSatcon. Some vendors like Satconalso makes solar energy management solutions for solar power plants. Satcon’s system breaks a large solar array into small strings of well matched modules in order to optimize the performance of the entire array.
Power storage
Energy storage is expensive so utilities tend to keep power stations running on low output, a state known as “spinning reserve,” so they can be ramped up quickly to deal with peaks. This is not very efficient and not possible at all with renewables so several companies are tackling the storage problem.
BeaconPowerspecialises in flywheel energy storage which works by accelerating a flywheel to a very high speed and maintaining the energy in the system as rotational energy. The energy is converted back by slowing down the flywheel. Stored energy is brought online when demand peaks. A single flywheel can store 25 kilowatt-hours of electricity.
Distribution and substation automation
While smart meters — networked, computerized energy meters which replace old analog devices — get all the attention, equipment and software to manage the distribution network itself could actually be a bigger business opportunity. The Cleantech Group’ssmart-grid vendors reportsays that this market is worth $1.4 billion in 2010. GTM Research’ssmart grid market forecastgoes even further and pins the 2010 market value at $2 billion rising to $5.6 billion in 2015. In spite of this, only 7 percent of venture capital dollars invested in smart-grid startups have been in the distribution sector.
Power is transmitted along high-voltage power lines from power stations to local distribution substations. These substations then distribute to homes and businesses. Smart-grid applications for distribution focus on automating those substations to a great degree and monitoring, fault detection and optimization of the power lines distributing electricity. The Cleantech Group estimates that only 56 percent of the more than 100,000 US substations have any automation. Utilities also need new distribution management systems to process and manage all the new data being generated by the distribution network.
The dominant companies in this market are legacy grid vendors likeABB,GEandSchneider Electric. Suppliers likeTelventspecialize in particular areas like substation automation. Communications giants such as Siemens and Motorola provide the communications. A few smaller companies have broken into the market.Ruggedcom makes communications equipment like routers and switches specifically adapted to harsh electrical environments like substations. According to the Cleantech Group’s report Ruggedcom owns 54 percent of the substation routers and switching market.
Another interesting distribution company isPowersense. Recently selected as one ofCleanTech’s Group’s global clean tech 100 list, the Copenhagen-based company produces sensing technology for substations and medium voltage distribution grids. For high voltage transmission gridsGridsensesells overhead line recorders which can monitor the condition of the line.
Smart meters
Smart meters bring information technology to the edge of the grid, recording electricity consumption and communicating data back and forth to a local utility. The Cleantech Group estimates the advanced metering market at $1 billion in 2010 while GTM Research optimistically forecasts $2.5 billion.
Any smart-meter rollout involves not just the meter manufacturers but also communications companies, meter data management systems and system integration. The diagram above from Itron shows where all that stimulus money is going and how it is divided between the different suppliers. 50 percent of all VC dollars going into the smart grid were invested in metering, in particular communications companies.
Communications are needed between the meters, local smart appliances and a concentrator which links the home network (HAN) to a local or wide area network to return the data to the utility. The HAN network in the US is dominated by a low power wireless technology called Zigbee. This isn’t true, worldwide, however. China, which plans to deploy 150 million meters by 2015, uses a powerline communications technology as does most of Europe.
The meter world is dominated by a small number of global companies such asItron,Landis & Gyr,Elsterand GE.Itronalone accounts for 50 percent of the smart meters installed in the US. They in turn buy components from smartgrid chip vendors likeAccentandTeridian.
The communications software and chips are supplied by people likeSilver Spring Networks,TrilliantandSmartsynch. Silver Spring networks in particular has received a massive amount of VC investment ($247 million) and commands significant market share. On the powerline side there are companies like Ambient who create high-speed data communications networks over medium and low voltage distribution lines.
Finally, utilities need new metering data management systems to clean up and process the massive amount of data generated by the meters. There are a few pure play vendors in that area likeEcologicandeMeterbut the giants like Itron also supply their own systems.
The smart meter can form one pillar of a home energy system such as Google Power Meter, Microsoft Hohm orOpower. Comprehensive home energy systems like those supplied byTendriladd smart sensors, appliances and plugs to the mix but are expensive and currently at an early stage in terms of deployment.
Demand response
Some commentators maintain that demand response (DR) is the killer super-grid application. Demand response means reducing the demand on the grid when it exceeds supply. By 2019, DR could be capable of reducing peak usage by 20 percent.
TheCleantech Group’s smart grid vendors reportputs the demand-response market at $1 billion in 2010. Traditionally this is a services market where a few major players likeEnerNoc(which alone owns 25 percent of the market) andComvergeenforced DR contracts with large commercial and industrial power users.Now these vendors are also moving into residential DR. Comverge is currently the leader in that area.
There are many different ways to implement demand response. Utilities can directly shut down devices. Customers can trade load reductions with utilities as a sort of commodity on an energy marketplace. It may be cheaper for a utility to “buy” large reductions from customers rather than increase power generation or storage. DR policies can be automated and linked to real-time pricing so that, for example, certain devices are shut down or slowed down when the price exceeds a certain level.
Tendril and Gridpoint provide DR systems linked to pricing. The increase in automation and complexity of DR systems is also creating the need for a new type of DR management system such as those supplied by EnerNOC andEchelon.
Electric vehicles
Most smart-grid applications upgrade or optimize existing grid elements and processes. Electric vehicles (EVs), however, are a completely new addition — a major reason why we need to move from the smart grid to the super grid.
Take, for example, the Nissan Leaf, which has a 24-kilowatt-hour battery pack. The average American household’s daily consumption of electricity is 30 kWh. Electric vehicles will probably also cluster, as early adopters set trends for their neighbors. Those close concentrations of EVs will place a major strain on the local grid.
It’s not all bad news. Managed correctly, EVs could bolster the grid rather than just strain it. Their batteries could be used by the utility companies as a cheap alternative to other forms of electricity storage. Researchers estimate that each car could potentially provide up to $4,000 worth of storage capacity per year.
Large volumes of EVs require battery monitoring software and charging point systems as well as increasing the need for many of the previously discussed technologies like demand response. One of the leaders in this space isBetter Placewhich plans to not only supply car batteries and charging points but alsoall the softwareto manage them. Another big player isCoulomb Technologieswhose ChargePoint networked charging stations provide myriad applications from tracking charging point usage to billing and fleet management. In both of these cases, the companies create software for usage with their own products. Gridpoint supplies more general-purposesmart charging solutionsto utilities.
That’s a brief introduction to just some of the companies building the super grid, which will look far more like the Internet than the energy-distribution network of today: distributed, adaptable, and ever-changing.
Are you a green executive or entrepreneur? If so, sign up now forGreenBeat 2010— the year’s seminal conference on the smart grid — November 3-4 at Stanford University . World leaders in smart grid initiatives will debate how the new “Super Grid” is creating huge opportunities in cars, energy storage, and renewables. GreenBeat 2010 is hosted by VentureBeat and SSE Labs of Stanford University. Go herefor full conference details and to apply for the 2010 Innovation Competition.
Tags:charging point,direct response,electric vehicles,EV,GreenBeat,GreenBeat 2010,home energy system,microgrid,microinverter,powerline communications,smartgrid,smartmeter,substation automation,ZigBee
Companies:ABB,Abound,Accent,Ambient,balance energy,Beacon Power,BetterPlace,Comverge,Coulomb Technologies,Ecologic,Elster,EMeter,Enernoc,Enphase,GE,Gridpoint,gridsense,homer energy,itron,Landis + Gyr,motorola,OPOWER,PowerSense,PVPowered,RuggedCom,Satcon,Schneider Electric,siemens,Silver Spring Networks,Smartsynch,Teridian,Trilliant
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Funny thing...one of them was taken by an old friend of mine at a show I attended before I knew him.
Goes to show, you don't ever know!
Very nice...thanx Jaxstraw!
October 29, 1977
Evans Field House - Northern Illinois University
DeKalb, IL
Source: SBD > Reel > DAT > WAV (via TB Fiji S/PDIF) > SHN
http://www.archive.org/details/gd77-10-29.sbd.kempa.280.sbeok.shnf
Set 1:
1. Might As Well
2. Jack Straw
3. Dire Wolf
4. Looks Like Rain
5. Loser
6. El Paso
7. Ramble On Rose
8. New Minglewood Blues
9. It Must Have Been The Roses
10. Let It Grow
Set 2:
1. Bertha >
2. Good Lovin'
3. Friend Of The Devil
4. Estimated Prophet >
5. Eyes Of The World >
6. Space
Set 2 (cont.)
1. Saint Stephen >
2. Drums >
3. Not Fade Away >
4. Black Peter >
5. Sugar Magnolia
Encore:
6. One More Saturday Night
Enjoy :)
Jeff Kempka
jeff@shakedown.etree.org
Smart Grid’s Long and Winding Road
Amy Hsuan: October 28, 2010
An interview with Katherine Hamilton of the GridWise Alliance
The nation’s electric power industry -- which dates back to the nineteenth century -- is in the early phases of an unprecedented change. With new, renewable resources coming online and commercial users searching for new modes of efficiency, the underlying infrastructure that has served the power needs of the United States for the better part of the last 150 years is about to undergo a historic transformation.
Borrowing from the lessons learned elsewhere, in telecommunications and information technology, the 'smart grid' will one day be an agile, responsive and intelligent network -- nearly the exact opposite of what it is today. It will have new hardware and software and will stand to become the hallmark innovation of the twenty-first century.
The question is, when and at what cost? To get there, political boundaries need to be redefined at the federal and state levels, old infrastructure needs to be replaced and a new system needs to go from being a mere vision to becoming a reality.
That’s where Katherine Hamilton, president of the GridWise Alliance, comes in. Hamilton, who will be at the Wharton Energy Conference in Philadelphia on Friday, is no oracle when it comes to foretelling the future of smart grid, but she has spearheaded legislative and policy efforts, developed language for the energy and climate bills and secured critical funding for the grid.
Wharton MBA candidate Amy Hsuan caught up with Hamilton to hear her perspective.
Q: In your view, how will the evolution of the grid unfold over the coming years? Where to begin and what does the roll-out look like?
This is an evolution that will take place over time and in very different ways depending on the nature of the utility and the community it serves. For example, rural cooperatives have been installing remote meter-reading technology so that they can cut back on long truck trips over miles of territory. Urban utilities are focusing on demand management since their stressors are meeting peak loads during the hottest days of the year. Municipalities have to consider interoperation of all systems -- gas, water, transportation, electricity -- and are planning projects that consider these holistically.
Q: What do you personally define as success in the smart grid arena? What will it take to get there?
The stimulus funding has really uncorked a bottleneck of projects that will prove the value of smart grid to consumers and regulators. We will learn a great deal from these 100+ projects that will help us quantify benefits and make the case for an additional roll-out -- without stimulus funding. We hope to see tax incentives, such as accelerated depreciation for meters and credits for energy storage, to encourage more smart grid development. We want sustained research to spur innovation and creative financing mechanisms to promote investment.
Q: Is there any country, municipality or town that you feel could serve as a model for the rest of the U.S.?
Austin, Texas and Boulder and Fort Collins, Colorado are a few early adopters, but there are many more projects in the works. They are forging ahead with smart grid and designing their roll-outs to include all of the stakeholders impacted by the energy system. Vermont even developed their project as a state initiative, bringing dozens of utilities into the mix to apply for stimulus funding. We are also watching communities all over the world in their implementation strategies so that we can learn from global smart grid programs.
Q: There are some skeptics who say that even with smart grid and growing energy efficiency, energy usage will continue to grow because of the digital nature of our society. Do you believe energy efficiency means reduced energy usage?
It is absolutely true that we are moving toward an ever-more-electrified existence. This promises to grow even more with the advent of plug-in electric vehicles. If you believe that energy efficiency means using energy in a smarter way, smart grid technology can greatly enhance efficiency by providing measurable data and feedback to track energy and carbon savings. ACEEE recently issued a report that found that smart grid significantly strengthened energy efficiency if implemented with consumer engagement. The Pacific Northwest National Laboratory calculated that smart grid could enable efficiency and renewable energy usage and reduce carbon emissions directly by 12%, and indirectly by up to 18%. A more efficient economy is a more prosperous one; all of our forecasts and experiences to date have shown that smart grid will grow the economy and create higher paying, sustainable jobs.
Q: What do you see as the biggest obstacles to what the GridWise Alliance is trying to achieve?
Some of our barriers are in the rules we have put into place. I think we will see an evolution not only of technology over the next decade, but of our regulatory policies, as well. Once we get the rules right -- whether that means a cost on carbon or standards for renewables or simply internalizing externalities into the process -- the development of smart grid and all that it enables will follow. Remember, smart grid is simply a means to an end; the end goals are what we will set to determine our energy future. The GridWise Alliance uses our collective knowledge to inform our policymakers so we can begin to see some of those rules evolve.
***
Amy Hsuan is an MBA candidate at the Wharton Business School and marketing coordinator for the school’s 2010 energy conference, “Bridging the Gap,” which begins on Friday, October 29. Prior to attending Wharton, Hsuan was an energy reporter based in Portland, Ore.
http://www.greentechmedia.com/articles/print/smart-grids-long-and-winding-road/
Barnes Group Inc. Reports Third Quarter 2010 Financial Results
Barnes Group Inc. (NYSE: B), a diversified global manufacturer and logistical services company, today reported financial results for the third quarter 2010. The Company reported net income of $15.1 million, or $0.27 per diluted share, compared to $10.9 million, or $0.20 per diluted share in the third quarter of 2009. Barnes Group’s third quarter 2010 sales totaled $289.9 million, an increase of 11.4 percent from $260.3 million in the third quarter of 2009.
http://ih.advfn.com/p.php?pid=nmona&article=44989600&symbol=B
“Continued improvements in the current economic climate, particularly within our industrial and automotive end markets, led to double-digit sales growth for the second consecutive quarter,” said Gregory F. Milzcik, President and Chief Executive Officer, Barnes Group Inc. “This increase in sales, paired with our continued focus on maintaining an efficient cost structure and productivity, contributed to a meaningful improvement to our third quarter operating profit.
“We also experienced continued growth in our backlog and strong order rates, which position us well to build upon our success as we move into the fourth quarter,” Milzcik said. “While we are seeing strong growth in Precision Components and increased activity within our distribution and aerospace aftermarket businesses, we continue to remain cautious. Our 2010 diluted earnings per share guidance has been tightened to $0.95 to $1.00 given current and anticipated market conditions.”
From the TA :
The share structure for Nu Earth as of 10/27/10 is as follows:
A/S- 100,000,000
O/S- 56,820,596
R/S- 25,982,392
Why not call up headquarters and ask them? And do let us know how that works out for you.
GL
Metals and Mining: Winners & Losers
Karvy Global
10/25/10 - 02:15 PM EDT
NEW YORK (TheStreet) - Among the metals and mining stocks, Massey Energy(MEE), Metalico(MEA), and Schnitzer Steel Industries(SCHN) were the top gainers, while Mechel(MTL) and Arch Coal(ACI) were the top losers last week.
Coal producer Massey Energy was among major gainers past week, up 13.1%. The stock attracted investors after the company announced strategic options such as a possible sale or a private-equity transaction. The company will report third-quarter financial results on October 26. Bloomberg analysts estimate Masssey to report sales of $821.9 million, up from $641.6 million in the year-ago quarter.
Metalico, a scrap metal recycler and fabricator of lead products, gained 7.3% last week on surging volumes. The company is scheduled to report third-quarter financial results on October 29. Bloomberg analysts estimate sales of $139.7 million, from $91.5 million recorded in the year-ago quarter, while operating profit is seen at $10.5 million, up from $7.8 million earlier. On October 25, Canaccord Genuity reassigned a buy rating to the stock with a target price of $8, indicating an upside of 69%. Meanwhile, the stock was part of our picks in mining stocks with most upside.
http://www.thestreet.com/_yahoo/story/10898847/1/metals-and-mining-winners-losers.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
MEA Jan 2011 5.000 Call
.55 x .65
http://finance.yahoo.com/q?s=MEA110122C00005000
Barnes Group Earnings Conference Call (Q3 2010)
Scheduled to start Fri, Oct 29, 2010, 8:30 am Eastern
http://biz.yahoo.com/cc/4/117934.html
After the event has finished, the audio will be available
from this page until Sun, Oct 30, 2011
Barnes Group Inc. Declares Quarterly Dividend
Date : 10/21/2010 @ 12:26PM
Source : Business Wire
Stock : Barnes Group Inc. (B)
Quote : 18.53 0.52 (2.89%) @ 2:49PM
The Board of Directors of Barnes Group Inc. (NYSE: B) has declared a quarterly cash dividend of 8 cents ($0.08) per share. The dividend will be payable December 10, 2010 to shareholders of record at the close of business on November 30, 2010.
Barnes Group Inc. and its predecessor companies have paid a cash dividend to stockholders on a continuous basis since 1934.
Barnes Group Inc. (NYSE: B) is a diversified global manufacturer and logistical services company focused on providing precision component manufacturing and operating service support. Founded in 1857, more than 4,800 dedicated employees
at more than 60 locations worldwide are committed to achieving consistent and sustainable profitable growth. For more information, visit www.BGInc.com. Barnes Group, the Critical Components People.
http://ih.advfn.com/p.php?pid=nmona&article=44885460&symbol=B
ABTG Form 4 filings today:
http://yahoo.brand.edgar-online.com/default.aspx?cik=1047919
Sprint's Delivers Smart Grid Promise with Itron and Ambient Corp
October 19, 2010
By Carolyn J Dawson
TMCnet Contributor
In an effort to transform and upgrade nation’s electric utility infrastructure, Sprint is building a smart grid portfolio of solutions that optimizes grid performance by overlaying a communications system linking generators, distributors and consumers. To deliver on the smart grid promise, Sprint (News - Alert) has partnered with Itron and Ambient Corporation to leverage Itron’s advanced utility solutions such as OpenWay smart metering and data management solution along with Ambient's (News - Alert) flexible smart grid communication architecture.
Network reliability, optimized service delivery, renewable energy resources deployment, as well as efficient energy consumption are some of the services provided by Sprint partners such as SmartSynch, Grid Net and Landis+Gyr. Sprint, in collaboration with SmartSynch, will deploy an advanced, cost-effective and automated electronic residential utility meter that allows utilities to automate their electric grid empowered by Nationwide Sprint Network. The innovative Grid Net software platform enables seamless integration of substation automation, distribution automation, smart meters, demand response as well as load management with reduced capital and operating costs. Landis+Gyr compatible communication vehicle enables smooth interfacing with Gridstream energy management solution.
In a press release, Tim Donahue (News - Alert), vice president-Industry Solutions at Sprint, said, “Optimizing the grid is essential to our energy future. Sprint has a dedicated team to work with utilities to develop smart grid solutions. We have a long history serving the utility industry, beginning with Nextel Direct Connect, iDEN telemetry and supervisory control and data applications. We are working with our partners and customers to deliver the smart grid vision, energy management services and eco-friendly energy technologies.”
The proven and reliable Sprint 3G network with an extensive network of more than 277 million customers is the perfect match for utility industry needs. Additionally, Utility and application developers can also leverage Sprint’s Tier-1 Global IP network. At the recent CTIA (News - Alert) Enterprise and Applications 2010, Sprint inaugurated the opening of Machine-to-Machine Collaboration Center, a workshop where customer can work with an innovative team to develop commercially viable M2M solutions ranging from AMI to grid intelligence, building management and alternative green energy technologies.
As part of its dedication towards environmental sustainability, Sprint has been deploying hydrogen fuel cells thus providing clean back-up power to cell sites throughout the United States for which it also received $7.3 million grants for further expansion. For its leading sustainability efforts, programs, products and initiatives, Sprint has been receiving constant recognition through funds, awards and rankings.
Carolyn John is a Contributor to TMCnet. To read more of her articles, please columnist page.
Edited by Jaclyn Allard
http://smart-grid.tmcnet.com/topics/smart-grid/articles/109885-sprints-delivers-smart-grid-promise-with-itron-ambient.htm
Yes, but it's only internal bleeding.
We are short on gold coin for the "best and the brightest" and the board of directors (whom fall under neither of these two categories).
imo
Well, you wander in and out of passive voice and have a disagreement of tense but that is neither here nor there.
I would say leave out the puppy stealing and you're good to go.
gl
Cisco Believes China is Big Smart Grid Market
Monday, 18 October 2010 14:06
Known for making network equipment, Cisco Systems Inc believes that China offers immense opportunities for its smart grid products, and it is continuing its search for acquisitions to expand in the growing market. Cisco is presently collaborating with a number of utilities, such as NextEra energy Inc and Duke Energy, and expects the smart grid to reach further than the Internet.
Making a statement at the Reuters Global Climate and Alternative Energy Summit on Wednesday, Laura Ipsen, senior VP of Cisco's smart grid unit, said that the company has identified $15 billion to $20 billion in opportunities worldwide in the coming five to seven years. However, the market opportunity in China is much bigger.
"A lot of us looking at the China market see $60 billion by 2030 just for China alone," stated Ipsen. "A lot of the big companies -- the traditional GEs, IBMs, Siemens and others -- are over there exploring that market."
Cisco is involved in some development work in China concerning home energy management, according to her.
Ispen added, "I am in the process of looking at it and saying, 'What are the investments that are most important? How do we work with the government?'"
The main focus of Cisco is, however, the US and European markets.
The US power grid is considered a system already functioning at its limit. With smart grid, the goal is to create a network that will extract new efficiencies from power lines spread over thousands of miles and help in developing renewable energy, introducing "smart" appliances capable of turning themselves on and off, and supporting a fleet of electric cars.
“Smart Grid” is a term used for describing an electricity supply chain that is more efficient. Development of this concept is attracting heavy investment from industrial conglomerates, technology giants, and telecommunication companies.
Last month, Cisco reached an agreement for buying startup Arch Rock and it is partnering with smart meter maker Itron Inc for development of a smart grid communication platform.
Earlier, Cisco bought GridNet, which designs software for sending electricity usage data from meters to utilities.
"For acquisitions, we have a pretty healthy appetite," stated Ipsen. "So as things come along, we will move pretty quickly."
"I am looking at the whole architecture of the grid," she said when questioned about the particular technologies Cisco was interested in acquiring. "I am not counting myself out on any of those spaces."
http://www.smartmeters.com/the-news/1286-cisco-believes-china-is-big-smart-grid-market.html
ABTG S-8 Filing:
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7505098-859-12950&type=sect&TabIndex=2&companyid=6643&ppu=%252fdefault.aspx%253fcik%253d1047919
EXPLANATORY NOTES
This Amendment No. 2 to the Registration Statement on Form S-8 is being filed to register an additional (i) 60,000,000 shares of the common stock, par value $.0001 per share (the "Common Stock"), of Ambient Corporation, a Delaware corporation (the "Registrant"), issued or issuable pursuant to the Ambient Corporation 2000 Equity Incentive Plan (hereinafter, the "2000 Plan") and (ii) 13,000,000 shares of Common Stock issued or issuable pursuant to the Ambient Corporation 2002 Non-Employee Directors Stock Option Plan ( hereinafter, the "2002 Directors Plan"; together with the 2000 Plan, the "Plans"). The contents of the Registration Statement on Form S-8 (File No. 333-112569), filed with the Commission on February 6, 2004, as amended by Amendment No.1 filed on January 16, 2009, are incorporated herein by reference.
Smart grid illuminates New York’s underground
By David Worthington | Oct 6, 2010 |
New York’s Con Edison is a dichotomy of new and old: The roots of its massive urban infrastructure can be dated back to an electric company bootstrapped by Thomas Edison, and it is also on the forefront of smart grid technology.
Con Edison is one of the largest public Utilities in the United States, powering New York City and Westchester County, New York. It began distributing electricity in 1882 via the Edison Electric Illuminating Company of New York.
Edison’s company initially served just 59 customers in Lower Manhattan; ConEd now has greater 3 million customers. Power is delivered underground, and the grid’s infrastructure is serviced through 264,326 different manholes, according to ConEd.
How does ConEd know when something needs to be repaired (beyond knowing that the lights have gone out)? The utility has begun to retrofit some of its infrastructure with smart grid technologies, including intelligent switches, to help it monitor – and even isolate – problems that may occur deep underneath city streets.
It began with a self-funded pilot project in the borough of Queens in August 2009 to test new smart grid communications technologies including switches and systems that aggregate and organize information for operational and planning decisions.
“This is unique to underground systems,” said ConEd spokesperson Sara Banda. “Outside of New York they focus on technologies such as smart meters.” While it also has utilized smart meters to forecast customer demand, ConEd is now focusing on improving service reliably.
The pilot is enabling ConEd to see how easily it can isolate a problem area, Banda explained.
Further smart grid projects are being undertaken courtesy of US$181M in federal funding rewarded through the American Recovery and Reinvestment Act of 2009. The bulk of those funds ($136M) are being used to deploy intelligent grid systems throughout ConEd’s service area, Banda said.
The remainder is being allocated toward testing systems to provide real-time analysis of grid conditions in the control rooms, how to intelligently support electric vehicles, and how to bring renewable energy sources that may be generated by customers back into the grid, she added.
Smart Grid information will be aggregated and organized in control rooms to help the utility make operational and planning decisions. IMage is courtesy of Con Edison.
The tests will take place over a three-year period until federal funding has been exhausted.
“We are positioning for our next generation infrastructure,” Banda said. There will not be a comprehensive smart grid in New York over night, she noted. ConEd could not provide a timetable for the grid’s completion nor an estimate of what the total cost will be.
http://www.smartplanet.com/business/blog/intelligent-energy/smart-grid-illuminates-coneds-underground/3024/
NY's Smart Grid Projects Move Ahead
Important Steps Taken to Create Future Electric Grid
* by New York State Public Service Commission
ALBANY, NY (10/14/2010)(readMedia)-- The New York State Public Service Commission (Commission) today voted to grant Consolidated Edison Company of New York, Inc.'s request to establish a surcharge to collect certain costs related to smart grid projects approved under the American Reinvestment and Recovery Act (ARRA) of 2009 by the Commission and the U.S. Department of Energy (DOE). The Commission also voted to allow five other utilities to establish deferral mechanisms to collect the costs of approved ARRA projects in New York.
"The smart grid promises the deployment of new technologies that could help utilities become more efficient and help modernize the existing transmission and distribution grid," said Chairman Brown. "The technological advances now becoming available will help utilities streamline and manage operations and will empower consumers with a greater ability to control electricity consumption and costs."
As part of the ARRA initiative, the federal government will provide $392.5 million for several smart grid projects proposed by New York's utilities. Con Edison will receive the largest share of the award; its projects include $136.2 million for transmission and distribution projects under the DOE's smart grid investment grant program.
Meanwhile, under that same DOE program, the New York Independent System Operator (NYISO), on behalf of transmission owner utilities, will receive an award of $37.4 million for statewide capacitor banks and phasor measurement units to help enhance the reliability and efficiency of the bulk electricity grid and provide the foundation for further development of smart grid infrastructure in New York State.
Con Edison, along with its partners, also received a DOE award of $45.4 million under the DOE's smart grid demonstration program to fund a scalable smart grid model. National Grid, along with its partner Premium Power Corporation, was awarded $6.1 million by DOE to demonstrate competitively priced advanced flow batteries.
In compliance with the order authorizing recovery of stimulus project costs and subsequent to being notified by the DOE of the grants awarded, the six New York investor-owned electric utilities filed surcharge mechanisms to recover costs associated with projects approved by the DOE and the Commission.
A surcharge recovery approach would provide the utilities the benefit of receiving timely cost recovery of incremental depreciation, operation and maintenance expense, taxes, and a cash return on their investments once projects are placed in-service. From the utilities' standpoint, surcharge recovery improves cash flow and the related financial metrics. A surcharge approach would benefit customers with lower rate impacts since they pay for project costs as they are placed in service.
Con Edison plans to recover $145.2 million gradually from its customers for its ARRA projects via a surcharge. The utility estimates that impact on the average residential customer would be approximately $0.28 per month, or about $3.36 annually, or 0.24 percent of the total billed charges. Con Edison estimates the impact of the proposed surcharge on commercial customers at various levels of usage to be less than 0.3 percent of their monthly bills.
The remaining utilities will defer the costs associated with a significantly reduced scope of projects. Due to significantly reduced funding, the utilities surcharge proposals other than for Con Edison will not be established. Rather, the costs of the projects will be deferred for consideration in future rate cases.
National Grid will recover costs associated with its portion of the NYISO capacitor bank installation project and the statewide phasor measurement network project and the energy storage demonstration project, which is to demonstrate competitively priced advanced flow batteries. It estimates that its portion of the NYISO projects' costs would be about $19 million and the cost of the advanced flow batteries project to be approximately $2.3 million.
Other utilities will also share in NYISO project costs. Central Hudson Gas and Electric Corporation estimated its portion of the NYISO project would be $3.3 million, while Rochester Gas & Electric Corporation estimated a cost of $3.6 million. New York State Electric and Gas Corporation estimated its portion would be $11 million. Meanwhile, Orange & Rockland Utilities Inc. has two projects, the $1.9 million distribution capacitor bank project and its share of the NYISO capacitor bank installation project, estimated at $1.8 million.
The Commission's decision today, when issued, may be obtained by going to the Commission Documents section of the Commission's Web site at www.dps.state.ny.us and entering Case Number 09-E-0310 in the input box labeled "Search for Case/Matter Number." Many libraries offer free Internet access. Commission orders may also be obtained from the Commission's Files Office, 14th floor, Three Empire State Plaza, Albany, NY 12223 (518-474-2500).
http://readme.readmedia.com/CORRECTED-NYs-Smart-Grid-Projects-Move-Ahead/1748864
I think they need to comment on the NIST standards released today. It wouldn't hurt going into GridWeek either, rustle up some affiliations.
General Electric Buys Opal Software
Manufacturing.Net - October 14, 2010
ATLANTA (AP) -- General Electric Co. is buying Opal Software to help bolster its so-called "smart grid" business, the company said Thursday.
A smart grid allows utility companies to run their systems more efficiently by monitoring their customers' electricity demand in real time.
GE, which provides equipment for setting up such energy grids, says Opal's software will help customers speed the roll-out of new technology.
Opal, a privately held company based in Australia, will also give it a bigger operational footprint in the Asia Pacific region, GE said.
http://www.manufacturing.net/News/2010/10/Mergers-Acquisitions-General-Electric-Buys-Opal-Software/
NIST Releases Smart Grid Standards
National Institute of Standards and Technology's interoperability and security standards are ready for adoption by federal and state energy regulators.
By Elizabeth Montalbano, InformationWeek
Oct. 14, 2010
URL: http://www.informationweek.com/story/showArticle.jhtml?articleID=227800031
The National Institute of Standards and Technology (NIST) has identified five sets of foundational standards for smart grid interoperability and cybersecurity, furthering the Obama administration's plan for a next-generation, nationwide utility grid.
NIST told the Federal Energy Regulatory Commission (FERC) that the standards -- which deal with information models and protocols for reliable and secure grid operations -- are now available for consideration and adoption by federal and state energy regulators.
Together, the next sets of NIST standards are part of efforts identified in the FERC's Smart Grid Policy Statement, released last July. While NIST is coordinating the development of smart grid standards, the FERC is in charge of policy to ensure adoption of them.
Developing a nationwide smart grid is a priority for the Obama administration's goals to cut greenhouse gas emissions through the use of smarter technology. It is also integral to economic recovery plans, as the effort will create jobs.
Discover how Red Hat Enterprise Linux delivers reliability, scalability, and robust performance
Top Reasons to Choose Red Hat Enterprise Linux
Two of the sets of newly defined standards -- IEC 61970 and IEC 61969 -- provide what is called a Common Information Model (CIM), which is necessary for exchanging data between devices and networks, according to NIST.
IEC 61970 works in the transmission domain, while IEC 61969 works in the distribution domain. CIM standards are integral to the deployment of a smart grid scenario, in which many devices connect to a single network.
Two other sets of standards, IEC 61850 and IEC 60870-6, also deal with communication and information exchange. The former facilitates substation automation and communication, as well as interoperability through a common data format, while the latter facilitates information exchange between control centers.
The fifth set of standards, IEC 62351, defines cybersecurity for the communication protocols defined by the previous four sets, according to NIST. Security is a major concern with smart grids, which are especially vulnerable to attack because of the two-way communication between devices and the utility grid.
Indeed, cybersecurity is such a major concern that utility companies said they plan to invest more than $21 billion in this area over the next five years to protect the world's electrical grids, a recent report by Pike Research found. Annual spending on smart grid cybersecurity will more than triple from $1.2 billion last year to $3.7 billion in 2015, according to the report.
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I think an increasing demand for shares and their limited supply drove the pps up. This may or may not continue. Irrational exuberance, speculative trading, promotional exposure (everyone loves a runner!)...call it the maddening of the crowds. A smart bubble,lol...
What's different than the last time? Last earnings, next earnings and everything in between. Remember the last PR? You said it wouldn't help us at all. Yet, here we are. A full 100% flip for those inclined to do so.
You also said this rise was in advance of news (and the imminent plunge) That was before we became pawns of the MMs, I guess...
imo
I don't think that happens without a form 4, no?
I don't see them converting shares to preferred either though, that would be a great sign, imo.
I guess you can't blame a hedge fund for hedging a position either, can you?
It would be nice for JJ to pony up for some real shares too. Imagine that one.
gl
LOL< Wow, thank you, market makers!
Any one firm in particular? All of them in concert conspiring to manipulate the price of ABTG for their illicit gain? Because they all had so much excess inventory?
Go drink more coffee.
imo