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http://services.corporate-ir.net/SEC/Document.Service?id=P3VybD1hSFIwY0RvdkwyRndhUzUwWlc1cmQybDZZWEprTG1OdmJTOWtiM2R1Ykc5aFpDNXdhSEEvWVdOMGFXOXVQVkJFUmlacGNHRm5aVDA0TmpneU1EY3hKbk4xWW5OcFpEMDFOdz09JnR5cGU9MiZmbj1DYXBzdG9uZVR1cmJpbmVDb3Jwb3JhdGlvbl9TQzEzR18yMDEzMDEzMC5wZGY=
17mil sharer now 5,59% for Blackrock
Greenvironment submits bankruptcy
that's a bad news!
http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.trendkraft.de%2Fwirtschaft-geschaeft%2Fgreenvironment-plc-reicht-insolvenzantrag-ein%2F&act=url
from wallstreet-online.de GIV1 board
thanks to zuzlhuba
Greenvironment plant for Coca-Cola! E.ON now on board!
http://www.sharedeals.de/2012/07/12/greenvironment-anlage-fur-coca-cola-jetzt-auch-e-on-an-bord/
not sure if this is just a rumor, and translation from German is really hard to understand for me
In my opinion managers are rewarded based on the value they generated from the beginning to end of the observed time period.
Otherwise nobody would work for a red-bottom-lined company
Being value a set where stock price is an important item but not the only one
That said I am not happy with the company either (thought rise would be faster than this). But I know it is on track for good results
"Fuel Cell" sure seems to be popping up just about everywhere you look
For what i remember from my latest researches on the subject, fcel sells its cells for -about- $2,5 mil/MW while cpst should be -around- $1mil/MW
I am still looking for the actual reason one company should not consider microturbines as the best cost/benefit choice (not a retoric question)
I am looking at these two companies since a long time because i find it very telling when you compare them on a financial or business strategy or any other point of view.
so far, i find the biggest difference is in fcel having found a strong partner, Posco, and looking at this story one may be ready to understand the same story for capstone in case it will develop the same way (partnering with a strong fellow)
Is there any possibility they intend to use the cash for acquisitions?
In my opinion the answer is no
if we put Q1 Q2 Q3 in a row we have
Net cash provided by operations: (12)(20)(26)
Net cash provided by financing: 0, 6, 15 (the latter are the result of the exercise of warrants yielding $9.5 million in cash that is not a continuous stream of cash)
Free Cash Flow: (13)(20)(27)
I noticed that the good and the bad in $cpst are very thigh related to the Wells Fargo credit facility, and now they are negotiating it again.
This is from the last 10-Q
"As of December 31, 2011, the Company determined that it was not in compliance with one of the financial covenants in the Agreements regarding net income. On February 8, 2012, the Company entered into an amendment to the Agreements which provided a waiver of the Company’s noncompliance with this financial covenant as of December 31, 2011 and set the financial covenants for the fourth quarter of Fiscal 2012.
If the Company had not obtained the waivers and amended the Agreements as described above, the Company would not be able to draw additional funds under the Credit Facility. In addition, the Company has pledged its accounts receivables, inventories, equipment, patents and other assets as collateral for the Agreements, which would be subject to seizure by Wells Fargo if the Company were in default under the Agreements and unable to repay the indebtedness. Wells Fargo also has the option to terminate the Agreements or accelerate the indebtedness during a period of noncompliance. The Credit Facility includes financial covenants through March 31, 2012, at which time the covenants for subsequent periods will be negotiated. It is possible that the Company will be unable to meet the financial covenants at March 31, 2012. If a covenant violation were to occur, the Company would attempt to negotiate a waiver of compliance from Wells Fargo"
watch Greenvironment -30% since yesterday
http://www.google.com/finance?q=ETR:GIV1
don't know what's the matter, diluition maybe
my guess is they strategically PR microT sales, and also they don't tell us each MT they sell
CPST near term sell news?
the news is new for me but it looks like the approval was obtained back in january 19th
http://www.auc.ab.ca/applications/decisions/Decisions/2012/2012-022.pdf
(last page)
3 Decision
15. Pursuant to sections 11 and 18 of the Hydro and Electric Energy Act, the Commission approves the application and grants Genalta the approval set out in Appendix 1– Power Plant Approval No. U2012-22 – January 19, 2012, to construct and operate the power plant and
Appendix 2 - Connection Order No. U2012-23 – January 19, 2012, to connect the power plant to ATCO Electric’s distribution network. (Appendices 1 and 2 will be distributed separately).
Dated on January 19, 2012.
The Alberta Utilities Commission
CPST near term sell news?
the news is new for me but it looks like the approval was obtained back in january 19th
http://www.auc.ab.ca/applications/decisions/Decisions/2012/2012-022.pdf
(last page)
3 Decision
15. Pursuant to sections 11 and 18 of the Hydro and Electric Energy Act, the Commission approves the application and grants Genalta the approval set out in Appendix 1– Power Plant Approval No. U2012-22 – January 19, 2012, to construct and operate the power plant and
Appendix 2 - Connection Order No. U2012-23 – January 19, 2012, to connect the power plant to ATCO Electric’s distribution network. (Appendices 1 and 2 will be distributed separately).
Dated on January 19, 2012.
The Alberta Utilities Commission
Greenvironment receives order from enercity after successful test operation
From Greenvironment IR
Berlin, 11th April 2012 - At the end of 2010, Greenvironment GmbH, a wholly-owned subsidiary of listed Greenvironment Plc (WKN: A1JLT1 / Symbol: GIV1), delivered a 200 kW microturbine power plant with waste-gas heat exchanger and remote monitoring module to a biogas treatment plant of enercity for testing purposes.
The one-year trial operation has been successfully completed. Therefore enercity used its purchase option at the end of March and ordered a 200 kW microturbine system from Greenvironment. The target is to put the new system in operation before the next heating season.
Since 2008, enercity operates a biogas treatment plant in Ronnenberg (Lower Saxony) in cooperation with BiRo GmbH & Co. KG, a consortium of five farmers. The raw biogas is produced from renewable resources with corn silage as main ingredient. The raw biogas produced in digesters by BiRo is passed on to enercity and is afterwards processed in a biogas conditioner to natural gas quality.
The thermal performance of the newly ordered system is 250 kWth at a temperature spread of 90/70 degrees Celsius. The waste heat from the microturbine is to be used for the efficient heating of the fermenter as well as for wood drying. The electricity (200 kW) generated by the CHP plant is fed into the grid.
The microturbine CHP plant only requires very little maintenance and is relatively insusceptible for interferences. All in all, the operating system is more cost effective, because there is no performance loss even after a long period. This is mainly due to the fact that the generator, the compressor and the turbine wheel are installed on one shaft, which uses air bearing technology. This means that no lubricants or cooling water is required for the operation, which in turn means a low wear.
The monitoring of the plant is carried out in the control room of the power plant Herrenhausen - 24 hours a day, seven days a week. Greenvironment has combined the advantages of its own monitoring and control system (SCADA) with the existing system of Stadtwerke Hannover.
Mr. Radu Anghel, Managing Director of Greenvironment GmbH, states: "We are delighted that we were able to win enercity for us. This company is known for its pioneering work in using innovative techniques. It is an important multiplier for us, not only in the biogas sector, but also in the "traditional" natural gas segment."
"In the test run, we saw the possibilities of the system for ourselves. In comparison to reciprocating engine CHP plants, we expect lower maintenance costs and higher availability,” Jürgen Hahn, enercity plant manager, explains the reasons for the purchase decision.
About enercity
Stadtwerke Hannover AG is one of the largest municipal utilities in Germany with annual sales of over 2.7 billion Euro. Under the umbrella brand „enercity - Positive Energie“, it provides energy and services. In the region of Hanover, enercity supplies over 650,000 people with electricity, natural gas, district heating and drinking water.
enercity offers business customers attractive electricity and gas products nationwide. Individual solutions and supplementary services complete the range of enercity, which covers the entire range of energy management. In particular, contracting offers are also increasingly in demand nationwide. Thanks to an interest in the Potsdam-based Danpower group, enercity is also one of the largest German contracting companies. Since January 2009, the contracting business is operated by a wholly-owned subsidiary, enercity Contracting GmbH, based in Hanover.
Greenvironment prepares feasibility study for largest carpet factory in Poland
From company's IR
- Microturbine solution ideally suited for this project
- Feasibility study as base for 3 MW+ order in the current calendar year
- Very high probability of success after first pre-calculation
Berlin, 22nd March 2012 - GGC Energy s.r.o., a 50% subsidiary of listed Greenvironment Plc (WKN: A1JLT1 / Symbol: GIV1), received an order to prepare a feasibility study for Agnella Carpet Factory S.A., Bialystok (Poland), regarding the renewal of the existing energy solution of the production process with a modern and efficient trigeneration solution based on microturbines while providing process steam at the same time.
The technical parameters of the project are as follows:
- The system requires saturated steam for processes with certain parameters (6.5 atm pressure / 7.5 bar absolute / temperature of about 167 degrees Celsius).
- Average energy demand is about 1.8 MW, i.e. approximately 3 tons of steam per hour with the above parameters.
- There is an additional power requirement of about 1.6 MW for air cooling in the summer.
- The production processes have large peaks, which are covered with a temporary reduction of the steam for the air conditioning.
- Chilled water for cooling of the spinning and weaving department will be generated with the aid of steam generators in the absorption chiller.
- Total energy demand in the summer is estimated to be 3.4 MW (about 5.5 tons of steam/hour with the above parameters).
- Excess energy production will be fed into the grid.
Greenvironment experts will now prepare a feasibility study including a cost and technology proposal for a fixed fee. It is anticipated that the technology solution will comprise of at least three C1000 microturbines to cover the energy needs and potentially another C1000 microtubine as an extension or redundancy. The feasibility study will be completed in the second quarter of 2012. A positive outcome will trigger an order for realization of the project later this year.
Agnella Carpet Factory S.A. (www.agnella.pl/en) is the biggest producer of rugs and carpets in Poland. It produces about two million square meters of carpet products a year, which represents over 65 percent of the whole Polish production. Agnella offers both carpets made of natural raw material like wool, and carpets made of synthetic fabrics. The high quality of its products is confirmed by a number of certificates and quality marks.
Agnella is exporting over 50 percent of its production, mainly to the UK, the USA, the European Union, Eastern European countries and to the Middle East. It provides carpets for facilities all over the world, for example well-known hotel chains, like Starwood and Marriott, and numerous office buildings and casinos in Las Vegas, among others.
“Gas engines notoriously perform poorly in the industrial CHP market. Microturbines, instead, can unload their full potential precisely in this market segment. This project will be a good example of the real competitive advantage of microturbines for industrial applications. Greenvironment is positioning itself as a solution provider for this huge market of industrial cogeneration applications. Agnella is a great example of many new leads that will follow in the next months. This market has been widely neglected as far as cogeneration goes. We will change this“, stated Matti Malkamäki, CEO of Greenvironment.
I worry because now the S3 we got feb 3 ($100 millions securities registration statement http://phx.corporate-ir.net/phoenix.zhtml?c=120708&p=irol-SECText&TEXT=aHR0cDovL2lyLmludC53ZXN0bGF3YnVzaW5lc3MuY29tL2RvY3VtZW50L3YxLzAwMDExMDQ2NTktMTItMDA2NTQ2L3htbA%3d%3d )
is now more clear to me
From 10-Q http://phx.corporate-ir.net/phoenix.zhtml?c=120708&p=irol-SECText&TEXT=aHR0cDovL2lyLmludC53ZXN0bGF3YnVzaW5lc3MuY29tL2RvY3VtZW50L3YxLzAwMDExMDQ2NTktMTItMDA4MTU5L3htbA%3d%3d
Page 29:
Financing Activities. During the nine months ended December 31, 2011, we generated $15.0 million from financing activities compared to cash generated during the nine months ended December 31, 2010 of $0.5 million. The funds generated from financing activities in the nine months ended December 31, 2011 were primarily from our Credit Facility with Wells Fargo and the result of the exercise of warrants yielding $9.5 million in cash. Net borrowing under the Credit Facility obligations were $5.8 million during the nine months ended December 31, 2011 compared with net borrowing of $0.7 million during the nine months ended December 31, 2010. There were no warrants exercised during the nine months ended December 30, 2010.
Page 30 and 31:
We maintain two Credit and Security Agreements, as amended (the “Agreements”), with Wells Fargo, which provide the Company with a line of credit of up to $15.0 million in the aggregate (the “Credit Facility”). The amount actually available to us may be less and may vary from time to time depending on, among other factors, the amount of eligible inventory and accounts receivable. As security for the payment and performance of the Credit Facility, we granted a security interest in favor of Wells Fargo in substantially all of our assets. The Agreements will terminate in accordance with their terms on September 30, 2014 unless terminated sooner. As of December 31, 2011 and March 31, 2011, $12.9 million and $7.1 million in borrowings were outstanding, respectively, under the Credit Facility.
As of December 31, 2011, we determined that we were not in compliance with one of the financial covenants in the Agreements regarding our net income. On February 8, 2012, we entered into an amendment to the Agreements which provided a waiver of our noncompliance with the financial covenant as of December 31, 2011 and set the financial covenants for the fourth quarter of Fiscal 2012.
If we had not obtained the waivers and amended the Agreements as described above, we would not be able to draw additional funds under the Credit Facility. In addition, the Company has pledged its accounts receivables, inventories, equipment, patents and other assets as collateral for its Agreements, which would be subject to seizure by Wells Fargo if the Company were in default under the Agreements and unable to repay the indebtedness. Wells Fargo also has the option to terminate the Agreements or accelerate the indebtedness during a period of noncompliance. The Credit Facility includes financial covenants through March 31, 2012, at which time the covenants for subsequent periods will be negotiated. It is possible that we will be unable to meet the financial covenants at March 31, 2012. If a covenant violation were to occur, we would attempt to negotiate a waiver of compliance from Wells Fargo.
Although we have made progress on direct material cost reduction efforts, we were behind schedule in reducing costs at the end of the third quarter of Fiscal 2012. In addition, our working capital requirements were higher than planned primarily as a result of increased inventories, accounts receivable and warranty reserves. We believe that existing cash and cash equivalents are sufficient to meet our anticipated cash needs for working capital and capital expenditures for at least the next twelve months. Nevertheless, we may decide to raise additional capital in the near future. We could seek to raise such funds by selling additional securities to the public or to selected investors, or by obtaining additional debt financing. We cannot be assured that we will be able to obtain additional funds on commercially favorable terms, or at all. If we raise additional funds by issuing additional equity or convertible debt securities, the fully diluted ownership percentages of existing stockholders will be reduced. In addition, the equity or debt securities that we issue may have rights, preferences or privileges senior to those of the holders of our common stock. Should we be unable to execute our plans or obtain additional financing that might be needed, the Company may be unable to continue as a going concern. Therefore, there is substantial doubt as to the Company’s ability to continue as a going concern.
I am sorry if this looks too negative, this is just what i read >> credit facily is short, no new warrant exercise, and revenues below expectations, it is reasonable to rise cash selling new securities.
What is interesting about warrants for my trading habits is:
In the case that the price of the security rises to above that of the warrant's exercise price, then the investor can buy the security at the warrant's exercise price and resell it for a profit
that's money for both the company and the investor
Otherwise, the warrant will simply expire or remain unused.
that's no money for both of them
Often every stock's pps moves considerably on or around maturity/expiration dates to meet price targets
Thank you Capt
Actually i was wrong about the number of warrants. After the recent (Jan 9th) warrant exercise agreement there are still 1,6mil "2007 warrants" to be converted into common shares @$1,17
But i went through the 2007sec filing and, if I am not wrong, Jan 23rd 2012 was their exiration date
From the sec http://services.corporate-ir.net/SEC/Document.Service?id=P3VybD1odHRwOi8vaXIuaW50Lndlc3RsYXdidXNpbmVzcy5jb20vZG9jdW1lbnQvdjEvMDAwMDk1MDE0NC0wNy0wMDAzNjYvZG9jL0NhcHN0b25lVHVyYmluZUNvcnBvcmF0aW9uXzhLXzIwMDcwMTE5LnBkZiZ0eXBlPTImZm49Q2Fwc3RvbmVUdXJiaW5lQ29ycG9yYXRpb25fOEtfMjAwNzAxMTkucGRm
CAPSTONE TURBINE CORPORATION, a Delaware corporation (the "Company"), hereby certifies that, for value received, ___ or its permitted registered assigns (the "Holder"), is entitled to purchase from the Company up to a total of ___ shares of common stock, $0.001 par value (the "Common Stock"), of the Company (each such share, a "Warrant Share" and all such shares, the "Warrant Shares") at an exercise price equal to $1.30 per share (as adjusted from time to time as provided herein, the "Exercise Price"), at any time and from time to time on or after the date hereof (the "Original Issue Date") and through and including January 23, 2012 (the "Expiration Date")...
Other milestones i am aware of are:
September 23, 2013, strike price $1.60 . . 4,293,808 outstanding
June 2012 Directors have rights to purchase stocks in the $1.60 area, sorry no time now to look for the sec filing (it was reported around june 2011)
About Warrants...
January 24, 2012, strike price $1.17 . . 3,191,932 outstanding
are they required to give us any news sooner than later?
thank you all
Do you think we are going to see another agreement before jan 24 for the remaining 1,5 m warrants? why let the remaining 2007 warrants expire?
Rep. Linda Sanchez, D-Calif., introduced legislation to expand the 30 percent renewable energy investment credit to microturbine technology. H.R. 3394, called the American Microturbine Manufacturing and Clean Energy Deployment Act, would make microturbine facilities eligible for the credit. Microturbines, which are smaller versions of the large turbines used in baseload electric generating stations, can extract thermal and electrical energy from a variety of fuels including biodiesel. If enacted, Sanchez's office estimated that the bill would create more than 2,000 jobs immediately. Enough new microturbines to offset 170,000 tons of carbon dioxide emissions could be placed in service within the credit's first year, Sanchez said. A copy of H.R. 3394 is available online at www.energytaxcredits.com
...
http://www.novoco.com/journal/2012/01/briefs_retc_201201.php
From Greenvironment's CEO a new blog post...
21st December 2011
To cut a long story short: from the operational point of view I’m seeing the year 2011 as a great success for Greenvironment. We have been able to attract a lot of new partners that make a difference in this market, e.g. DALKIA in Poland. It is satisfying to see that big companies want to work with us. This opens up a lot of new opportunities. I am especially excited about the first results regarding the cooperation with RWE Energiedienstleistungen as a new strong investor in our JV in Schmalkalden. For sure this cooperation will bring a lot to us - not only in Schmalkalden and greater Thuringia. In addition to that we are also working on further cooperation agreements with renowned industry players in Europe.
Regarding the project situation, I am happy to announce that the projects we are now working are on schedule. As especially German shareholders might know, in the biogas industry it is critical to be able to commission the plants during the year, when the commissioning has been decided. It is always a great moment for the customer and for us, when a new plant is starting. The last one of ours in Zehnebeck started just this Monday - congratulations for the team!
Due to the strong growth of our business, project financing was a big issue that took a lot of our attention in the past several months. Thanks to some decisions recently made by Finnish shareholders of the company and other financing partners, we have been able to secure a debt project financing structure with a volume of more than 1.5 million Euro for Greenvironment. We are continuing to work hard in order to raise the size above 2.0 million Euro. Signing of the necessary paperwork will take place in early January 2012. I am looking forward to be able to announce new orders this financing will enable us to do - for instance selling the new Hybrid Uninterruptible Power Source (UPS) units from Capstone.
Capstone’s Hybrid UPS is the first UPS system in the world that integrates low-emission microturbines directly with a dual-conversion UPS to provide power for mission-critical loads. In many situations, Hybrid UPS can be used in a combined-heat-and-power application, making it extremely efficient since the microturbines can provide electricity, cooling and heating. In addition to generating electricity, the microturbines’ clean waste-heat energy can drive absorption chillers to meet a data centers cooling needs in the summer and support heating needs in the winter. This is a big new market for Greenvironment. In Germany alone there are estimated to be 10,000-15,000 server rooms we could provide a new and more efficient product. Please have a look at this video about a pilot-case: http://www.syr.edu/greendatacenter/index.html
I would like to take this opportunity to thank all investors for their continuing support during this year. Despite the great operational development our share price performance was disappointing in the last several months. The management is very unsatisfied with this situation and will increase investor relations activities in 2012 to unlock the hidden value of Greenvironment. A move to the Entry Standard is still on our agenda and will happen most probably towards the end of the first quarter 2012.
Last but not least I’d like to wish for all our shareholders, employees, business partners and customers Merry Christmas and a Happy New Year!
Your sincerely,
Matti Malkamäki
CEO Greenvironment Plc
http://greenvironment.de/en/investor-relations/ceo-blog/
with the recent pressure to "induce" conversion of warrants and all the PR they posted lately, maybe they are trying to induce conversion of the lasting 3,1 mil warrants to be converted @ $1,17 by mid january
Greenvironment: RWE Energiedienstleistungen GmbH is becoming shareholder of Dezentrale Energien Schmalkalden GmbH
- RWE acquires a 30 percent equity stake in Dezentrale Energien Schmalkalden GmbH
- Combining modern and safe microturbine technology with strong know-how and network of RWE
Schmalkalden / Berlin, 1st December 2011 – Stadtwerke Schmalkalden GmbH and Greenvironment Plc (WKN: A1JLT1 / Symbol: GIV1) are pleased to announce that RWE Energiedienstleistungen GmbH (RWE ED) acquired a 30 percent equity stake in Dezentrale Energien Schmalkalden GmbH (DES). The Federal Cartel Office has no objections to this transaction.
DES (www.dezentrale-energien.com) plans, finances, builds and operates CHP-plants within the area of Thuringia. The company is owned by Stadtwerke Schmalkalden GmbH (www.stadtwerke-schmalkalden.de), Greenvironment Plc and Heisenberg Energie GmbH.
RWE ED will become a co-owner of DES effective from 1st January 2012. DES is targeting the market in Thuringia (Germany) to win new customers for all partners. In addition to energy efficiency consultancy for industrial customers and energy controlling, DES was founded to realize district heating and contracting projects in Germany. The main focus is on combined heat and power, renewable heat supply and biogas applications.
Thomas Kaminski, mayor of the town of Schmalkalden, said: "Three years ago we started the cooperation with Greenvironment to set the course for the future of our city with an innovative company. We wanted and want to jointly build decentralized power plants of the highest technical level in order to supply the local district heating network with affordable and renewable energy. To this end we decided that innovative microturbine technology should be used, even though it was not prevalent at that time, since the overall efficiency and high availability were very impressive."
René Killenberg, Managing Director of Stadtwerke Schmalkalden GmbH and DES Managing Director, said: "The cities and municipalities of the future are using their municipal utilities to produce their own power and heat with high efficiency cogeneration plants and renewable energies, and through that approach they are becoming pioneers of sustainability. Thanks to a focus on renewable and highly efficient energy production plants, municipal utilities can provide electricity and heat to their local community, companies, manufacturers and citizens in a sustainable and resource-responsible manner."
"DES is already now covering 10 percent of the energy needs of domestic customers from Schmalkalden with electricity produced by the existing turbine plants. By 2020, it could already be 50 percent. Thanks to the cooperation with our strong partner RWE ED, we are able to expand our model to the whole of Thuringia, and not only regionally," adds Mr. Killenberg.
Dr. Erik Beckedahl, Head of Customer Relationship Management of RWE Energiedienstleistungen GmbH, said: “This is an excellent opportunity for us to develop the decentralized energy production concept together with innovative local partners such as Stadtwerke Schmalkalden.”
Matti Malkamäki, CEO of Greenvironment Plc, said: "The industrial cooperation with RWE has high value for the expansion of Greenvironment and exactly fits into our strategy. The concentration of the business on microturbines and initially on Thuringia will enable an efficient development of the concept.”
About RWE ED
RWE Energiedienstleistungen GmbH (RWE ED) is provider for energy-related services within RWE Vertrieb AG group. With around 250 employees, it offers flexible complete solutions for its 3,000 contracting partners. This includes energy consultancy as well as energy controlling, contracting and district heating. RWE ED operates nationwide 60 district heating plants in 11 provinces whereby around 80,000 customers are supplied with heat. The company's focus is on the development of decentralized energy production by combined heat and power as well as renewable sources of heat supply. With around 200 million Euro turnover, RWE ED is one of the big energy services company in Germany.
About Dezentrale Energien Schmalkalden GmbH
Dezentrale Energien Schmalkalden (DES) GmbH is a locally rooted, medium-sized company. It develops, finances, builds and operates combined heat and power (CHP) plants based on natural gas and biogas. With these plants, DES provides customers in Thuringia cheaper electricity and heat. The highly efficient plants generate energy with low CO2 emissions and are about 15 percent cheaper than the supply from a large power plant.
The company was founded in 2009 with the aim to gradually move the town of Schmalkalden from a centralized to a decentralized power supply. Thereby the city sets special emphasis on the use of local resources such as biomass. In the long run up to 100 percent of the electricity consumed in the city should come from highly efficient and decentralized plants.
Partners of Stadtwerke Schmalkalden GmbH are the decentralized energy company Heisenberg Energie GmbH from Berlin, and the Finnish-German technology company Greenvironment Plc. Both partners have offices in Schmalkalden.
About Greenvironment
Greenvironment is a European company active in the decentralized energy generation market which plans, builds and operates cogeneration heat and power plants (CHP). The company offers CHP plants in a power range of 30 kWel to 4 MWel and is a market leader in the use of innovative microturbine technology in electricity generation from biogas and natural gas. Greenvironment is an important distribution and technology partner of Capstone Turbine Corp. (Nasdaq: CPST), the world-market leader in the production of microturbines.
Microturbines benefit from high availability, low maintenance requirements, low emissions, favourable EEG and KWKG bonus compensation and flexible heat utilization. All Greenvironment CHP plants are operated by a highly efficient centralized process management system at the operations centre in Berlin. See also the new CEO Blog in the investor relations sections of our website www.greenvironment.com.
New presentation for ...?
What do you think about "New Orders" on page 22?
Q2 is -30%
Q1+Q2 is $50 millions and one may say it will be $100millions by FY end (at least) ...not bad
But on page 6 they report "$43 million in orders last two quarters" under new orders paragraph. This makes $86 million by FY end ...not that good
Also, do you know how many TA100 did they sell? There is a minumum amount they are required to sell based on the Calnetix agreement (now GE). I want make sure they are not going to lose the TA100
Thank you all
ale
Did NATGAS bill pass?
http://menendez.senate.gov/newsroom/press/release/?id=d478d932-e3a2-4602-a4d6-e4aafac271e9
english isn't my language and i would like to make sure my reading and understanding is correct.
If it passed this is the greatest news of the year for my portfolio of natgas stocks
Thank you
Greenvironment enters into a cooperation with Polish municipal utility MEC Kolobrzeg
From ir@greenvironment.com
Berlin, 3rd November 2011 - Greenvironment Plc (WKN: A1JLT1 / Symbol: GIV1) is pleased to announce that it has entered into a cooperation with Polish municipal utility Miejska Energetyka Cieplna Kolobrzeg Spolka z o.o. (MEC Kolobrzeg) for the installation of microturbines in the Kolobrzeg region. It is planned to put a C200 microturbine (200 kWel) into operation as a pilot plant already in spring 2012.
Kolobrzeg has approximately 45,000 inhabitants and is situated in north-western Poland on the south coast of the Baltic Sea. MEC Kolobrzeg (http://www.mec.kolobrzeg.pl) is a district heating company founded in 1973 and operating in Kolobrzeg with a production capacity of 113 MWt. In 2010, MEC Kolobrzeg sold more than 800,000 GJ heat and is heating 1.2 million square meters of flats and houses. Each year the area is growing by 5 to 10 percent due to the new investments in the Kolobrzeg area.
Mr. Mariusz Dziura, CEO of MEC Kolobrzeg, said: “After long consideration we decided to go more into distributed CHP production. We have seen and evaluated Greenvironment’s power plants in Schmalkalden and based on these experiences we are confident that we have chosen the best technology partner to set the course for the future of the Kolobrzeg area.”
Sebastian Hampel, Managing Director of Greenvironment Poland sp. z o.o., states: “In the Baltic Sea area, there is a big potential for small microturbine CHP units because those are ideally suited for more than 100 four- and five-star Baltic Sea hotels with high baseload need throughout the year. The next project which is currently under review between Greenvironment and MEC Kolobrzeg is a C65 project for the first five star hotel on the Baltic Sea.”
For further information:
Michael Gawenda
CFO Greenvironment Plc
Tel.: +49 (0)30 311 6712 30
Fax: +49 (0)30 311 6712 59
E-Mail: IR@greenvironment.com
New post from GIV's CEO on his blog. They have great plans
----
I am writing this blog now from Chatsworth, USA. I came here to witness the factory tests of our Sotchi delivery. You might already know that the first turbine has already been delivered to Russia, this time the test was performed on the remaining turbines, i.e, 3 times C1000. Needless to say, the tests were passed flawless and the turbines shall then be on their way towards Russia. It was a bit of a rush, but I'm more than happy that this delivery is now already in this level. Great thanks to all participants of the project in Russia, Czech Republic, Germany and naturally here in USA!
I have been recently receiving quite a lot of queries and comments from our shareholders about dropping share price and little news releases. Some people have even been thinking that we don't make any sales anymore. Those comments could not be more wrong. Greenvironment is doing sales and our new projects pipeline continues to increase. However, I strongly doubt our prosperity in the long run shall be secured by getting the relatively small, independent projects signed today.
Instead I do think we need to push for real business development in order to receive good multiplying peers. Case Schmalkalden is one example of this kind of multipliers. Others could be for example bigger industrial corporations that make a test facility with our technology and then start to copy-paste the similar solutions for their other locations, too. Another example could be sales cooperation with well-known companies in the market. For those that are still suspicious about our capabilities to achieve this kind of cooperation - we’ve made great progress in the last weeks.
And when we do that then the share price will take care of itself. You can be 100 percent sure: we are working hard in order to reward all of our shareholders!
Your sincerely,
Matti Malkamäki
CEO Greenvironment Plc
http://greenvironment.de/en/investor-relations/ceo-blog/
______________________________________________
Symbol GIV1
ISIN GB00B3TDV635
WKN A1JLT1
CPST distributor: Greenvironment Plc Reverse Split Approved At The Annual General Meeting..
From CEO's blog about the revese split (the AGM also authorized raising the share volume to facilitate a secondary listing on a foreign stock exchange or to get a strategic investor in board. after the AGM, Greenvironment has a total of 20 million shares issued. This number already includes the current share count and leaves the possibility to allocate up to approximately 12 million shares in the future if needed.)
____________
From the blog
30th September 2011
Greenvironment Plc’s first annual general meeting was held midday 28th September in London at our legal advisors premises close to Liverpool Street station. The whole meeting was as fluent as one can imagine. I once more want to thank everyone that made it possible starting from our own / external financial teams and not forgetting auditors, legal advisors, designated sponsor banks, company secretary, the representatives of the registrar, the back office teams in Berlin & London and naturally the shareholders! We have agreed to make this meeting next year in Berlin so that it would be easier achievable by the German shareholders.
I gave a presentation about company’s situation and future steps in the meeting. You can find the presentation on our website underneath the AGM-section. I think the most important message of the presentation was the announcement from us stating that we have been able to secure a turnover of already 12 million Euro for this financial year after 7 months of this fiscal year. Given the last months order filing - almost 7 million Euro in just three months - we are well on our way to meet the targets of the year!
I know some shareholders have been asking why we don’t publish our sales pipeline figures anymore. The reason for this is simple; the figure “sales pipeline” is a non-standard financial term and therefore subject for misinterpretations. Also, we learned that there have been some companies using similar term for building just hype around them. As one of my tasks is to provide a clear picture of the company’s status for the shareholders, we agreed within the management to create a standard reporting scorecard that we will start using instead of figures one can read different ways. Through this scorecard we will then be able to provide consistence for the shareholders on our reporting. I will give you now my last statement about the sales pipeline; it has seen a strong development since we last reported about it.
Another important item is the securities prospectus and its delay. To put it simply; no one’s happy about the delay and we don’t want to delay the work more than is absolutely necessary. However, we naturally do want to make it well and also take the most benefit out of it. This means that it has to be such a high standard that we could also use it for a secondary listing on every other European stock exchange. I promise to update you, once we file it to the UK authority FSA for their approval - it will be sooner than later but for sure in the fourth quarter of this year.
Your sincerely,
Matti Malkamäki
CEO Greenvironment Plc
http://greenvironment.de/en/investor-relations/ceo-blog/
______________________________________________
Symbol GIV1
ISIN GB00B3TDV635
WKN A1JLT1
Surprise in store or rip-off?
Thanks for the link Bill,
i think it is likely there is a C30 inside the box
HiWing is big enought and experienced in aerospace field to run the turbine business, and specs are almost the same
The target for CCHP installed in China by 2020 is huge and Capstone can't handle that supply anytime soon. Unless GE helps it, but i think the Chinese want to run the business by themselves.
Company presentation: http://www.hiwingtech.com/english.asp#2 (clic Company)
China Aerospace Science and Industry Corporation, CASIC, is the backbone of national science and technology industry, is a large state-owned hi-tech enterprise under direct administration of central government. It has grown out of the Fifth Academy of the Ministry of Defense in 1956, and gone through a long history with different names of the Ministry of the Seventh Machinery Industry, the Ministry of Aerospace Industry, the Ministry of Aviation and Aerospace Industry, China Aerospace Corporation, China Aerospace Machinery and Electronics Corporation, and the present one. CASIC owns seven academies, two scientific research and development bases, six public listed companies, and over 620 other companies and institutes scattering nationwide.
Specs comparation:
C30: http://www.globalmicroturbine.com/pdf/brochures/c30lpng.pdf
MG30: http://www.hiwingtech.com/e_product.asp# (clic Product >> Electric Power Equipment >> MG30 Series Micro-Turbo Generator)
According to Greenvironment's CEO, Capstone and GE are in cooperation for the developing waste-heat-recovery systems utilizing ORC-turbines
http://greenvironment.de/en/investor-relations/ceo-blog/
GIV again, 2xC200 initial orders from a renowned oil and gas producer
15. September 2011:
Greenvironment GmbH, a 100% subsidiary of Greenvironment Plc (WKN: A0YEKX / Symbol: GIV) has received orders from a well-known oil and gas producer to build two 200 kW microturbine CHP plants in Germany.
In the extraction of crude oil there is always a gaseous mixture of a wide variety of hydrocarbons (associated petroleum gas - APG). The client now intends to convert those gas volumes that accrue in its oil and gas fields into electricity as well as heat by using microturbines and thus to ensure an energetic usage.
Greenvironment is building a pilot plant that should prove that quantity fluctuating gas volumes, whose composition is variable, can be effective energetically used in microturbines. These microturbines of one power class will be operated unitized or as a power block. By changing the gas composition is also intended to determine which application scope is possible and accordingly at what effort present gas can be changed so that it can be used in microturbines. The generated electricity is primarily used for the operation of the plant. Excess electricity is fed into the grid of the local utility. The thermal energy will be used as process heat.
Matti Malkamäki, CEO of Greenvironment Plc, said: "These initial orders from a major oil and gas producer in Germany are of enormous importance for Greenvironment because it opens up many new opportunities - especially in the oil and gas sector. I am firmly convinced that our microturbine CHP plants will stand the pilot test."
"Though these are German projects, it gives us a lot of know-how about how the turbines can be used on associated petroleum gas. We have a number of similar cases waiting, not only in Germany but in Poland and Romania as an example, where similar needs do exist. The total number of possible plant sites in in our countries of operation is more than 100", adds Matti Malkamäki.
http://greenvironment.de/en/service/press/newsdetail/article/greenvironment-receives-initial-orders-from-a-reno-1/
Updates from Greenvironment
Hi all, back from my vacancies I have found these news coming from Greenvironment
Greenvironment continues on the road to success - New order from Saxony
15. August 2011:
Greenvironment GmbH, a 100% subsidiary of Greenvironment Plc (WKN: A0YEKX / Symbol: GIV) has received an order from Convoris Blankenhain GmbH & Co KG, Leipzig, to build two 200 kW microturbine plants. This newly formed project company is acting as operator of the CHP plants and is obtaining the needed biogas from the Agrargenossenschaft Blankenhain e.G. (a German agricultural cooperative).
Greenvironment joins forces with Italian Capstone distributor IBT Group
18. August 2011:
Greenvironment Plc (WKN: A0YEKX / Symbol: GIV) is pleased to announce that it has entered into a strategic cooperation with IBT Group (www.ibtgroup.it), based in Treviso, Italy.
Greenvironment gets additional contract for shopping centre in the Russian city of Sochi
23. August 2011:
This week, GGC Energy s.r.o., a 50% subsidiary of listed Greenvironment Plc (WKN: A0YEKX / Symbol: GIV), signed an amended supply agreement for the delivery of a 4 MW-microturbine plant for the expansion of the shopping centre „Novy Vek“ („New Century“) in Black Sea city Sochi. The original contract was announced on the 10th May 2011.
More details available here
http://greenvironment.de/en/service/press/
More from Greenvironment (IR@greenvironment.com)
2xC200 commissioning Dec 11
Greenvironment awarded contract for the construction of a 400 kW CHP plant with microturbines
Berlin, 8th August 2011 – Greenvironment GmbH, a 100% subsidiary of Greenvironment Plc (WKN: A0YEKX / Symbol: GIV) has received an order from BioEnergie Zehnebeck GmbH to build a 400 kW microturbine plant at the site of the dairy farm Zehnebeck in Gramzow (Uckermark), about 20 kilometers southeast of Prenzlau.
Majority owner of BioEnergy Zehnebeck GmbH is Produktivgenossenschaft "Randow" e.G. in Gramzow-Luetzlow. The registered cooperative exists since 7th March 1991 as a fodder crops farm and currently owns more than 1,000 cattle. The agricultural area of Produktivgenossenschaft “Randow“ e.G. comprises of more than 1,000 hectares. About two-thirds of that is agricultural crop land where wheat, canola, corn and barley are mainly grown.
In this biogas project, two coupled 200 kW microturbines will be used to generate electricity and heat. The generated electricity is fed into the grid of the local utility. The hot exhaust stream of the microturbine is used to heat the fermenter, a social building and the nearby houses.
In addition to the microturbines, the new system includes a technology container consisting of a control cabinet, a gas conditioning module (45 kW) and a heat supply unit (450 kW thermal output at a temperature spread of 70 degrees Celsius / 90 degrees Celsius). All required permits are in place. Commissioning is scheduled for December 2011.
The manure of the dairy cattle is fed into the biogas plant to produce the gas for heat and electricity generation with the Greenvironment CHP plant using microturbine technology. To achieve a better utilization of the plant, leftover food from the dairy farming and silage can be added. Furthermore also rye can be purchased from local sources as needed. A total of approximately 19,700 tons of input material per year are available for the plant, which equates to 54 tons a day. The share of manure is around 58 percent.
Mr. Alexander Stephan, CEO of Produktivgenossenschaft "Randow" e.G., said: "The supposed disadvantage of lower electrical efficiency of the microturbine has not prevented us from analyzing the long-term viability of this innovative co-generation plant. Thanks to the low maintenance cost, long durability and easy controllability of the turbines, the investment decision for the Greenvironment plant was not difficult. In addition to that, the clean exhaust gases and the flexible use of heat leaves us with all options regarding the complete use of thermal energy in the second expansion stage. This was the crucial selling point for us. "
Radu Anghel, Managing Director of Greenvironment GmbH, explains: "With the already proven 400 kW plant design, consisting of 2x200 kW microturbines, Greenvironment customers benefit from a high availability, low service and maintenance costs as well as good efficiency. In addition to that, all plants are included in the central SCADA system for remote monitoring. The technical advantages of our systems in the extraction of thermal energy give our customers great flexibility in selecting the heat consumption, also in the future. In Germany alone, we are currently in advanced negotiations for five similar CHP projects with a total of 1.2 MW of electrical power."
Greenvironment receives first order from Romania
(from IR@greenvironment.com)
- Microturbine approach wins due to low maintenance costs
- Attractive government incentives in Romania
- Advanced negotiations regarding five CHP projects with 800-1,000 kW electrical installed each in Romania alone
Berlin, 2nd August 2011 - Greenvironment Plc (WKN: A0YEKX / Symbol: GIV) today announced that it has received an order for a 200 kW Capstone microturbine for natural gas including other additional components as part of a cogeneration system. It was ordered by HospMed Project S.R.L., a Romanian energy service company, and will be installed at Medias Hospital in Medias, Romania. It is scheduled for completion in November 2011.
The cogeneration system serves a dual purpose of supplying electricity and heat to the facility that has around 335 beds (http://spitalulmedias.ro). HospMed Project S.R.L. will operate the system which will supply approximately 750 MWh electricity/year into the grid and 590 MWh electricity/year as well as 2,940 MWh heat/year to Medias Municipal Hospital.
Alexandra Toma, Managing Director of HospMed Project S.R.L., said: “Our efforts to provide the Medias population with high-quality, affordable medical services were forefront in our minds as we invested in this new equipment for the hospital. We wanted to make the best decision for the Medias patients and the bottom line of the hospital. We believe that a microturbine is the best economical decision in large part because of the lower maintenance costs.”
In Romania, Greenvironment is focusing primarily on the natural gas market. Romania has its own natural gas resources and due to the current privatization process, the market possibilities are very promising. The local presence is essential in order to get access to an annual market of more than 50 million Euro of new small-scale CHP plants.
Peter Dorner, COO of Greenvironment Plc, states: "The Greenvironment cogeneration system achieves a total efficiency slightly above 90 percent and saves the hospital around 10% of its annual energy costs. This is our first order from Romania for a cogeneration system using the Capstone microturbine. The Romanian market is developing very positively for us. At the moment, we are in advanced negotiations regarding five CHP projects with 800-1,000 kW electrical installed capacity each in Romania alone.”
A question: would anyone, or most, like to see this data daily, weekly, monthly, ... or any combination?
Thank you Bill. I appreciate your work, nasdaq's reports aren't so useful as yours, since you post them on the board earlier than nasdaq.
Ale
Greenvironment: Cooperation Agreement with RWE Energiedienstleistungen GmbH and Stadtwerke Schmalkalden GmbH
http://www.greenvironment.de/group/english/
Matti Malkamäki, CEO of Greenvironment Plc visited Capstone headquarter few days ago and when he got back to Germany he issued this PR. Since the cooperation is with two of the most important German utilities I wish he had good news about the supply problems from Capstone.
Two more links to the PR with comments (translation tool required)
http://www.shareribs.com/green-energy/biogas/analyse/article/greenvironment_megadeal_mit_rwe_start_einer_deutschlandweiten_kooperation_id95280.html
http://www.cleantechaktien.com/?p=980#more-980
just a regular working day here in Italy, you guys have a great Independence Day.
Thank you Bill, this is very interesting
I counted 63% of the total trades for june 29th and the result is that almost 50% were short sales
Date Ticker Short Vol Market
29-jun-11 CPST 212018 327868 Z
29-jun-11 CPST 88013 112507 Y
29-jun-11 CPST 114068 213554 J
29-jun-11 CPST 215116 467938 K
29-jun-11 CPST 754279 1909129 Q
29-jun-11 CPST 14405 19505 N
29-jun-11 CPST 11000 11400 X
29-jun-11 CPST 25100 42229 B
29-jun-11 CPST 1600 23712 C
29-jun-11 CPST 270450 369867 P
Tot vol 1.706.049
Tot shorts 3.497.709 (49% of the counted daily vol)
4 CPST Officers file Form-4s
I spent one hour or more trying to figure out how does this work, but i'm still confused (too young, too bad my english, help very much appreciated)
References:
Q3 sec filing, page 9
http://ih.advfn.com/p.php?pid=nmona&article=46339596
and the 06/10/2011 filings:
http://www.dailyfinance.com/company/capstone-turbine-corporation/cpst/nas/sec-filings?t=INSIDER
As of December 31, 2010, the Company had outstanding 3,700,000 non-qualified common stock options issued outside of the Amended and Restated 2000 Equity Incentive Plan (the “2000 Plan”). These stock options were granted prior to Fiscal 2008 with exercise prices equal to the fair market value of the Company’s common stock on the grant date as inducement grants to new officers and employees of the Company. Included in the 3,700,000 options were 2,000,000 options granted to the Company’s President and Chief Executive Officer, 850,000 options granted to the Company’s Executive Vice President of Sales and Marketing,.......
...All options are subject to the following vesting provisions: one-fourth vests one year after the issuance date and 1/48th vests on the first day of each full month thereafter, so that all shall be vested on the first day of the 48th month after the issuance date. All outstanding options have a contractual term of ten years
What i understood here is that they settled the date/price for their investments. For example CEO DJ decided he will pay $1,64 to buy 150K shares, starting next year (6/8/2012).
The good news is $1,64 should be a good entry point.
The bad news is, why only 150K warrants out of 2 millions he owns
Thank you for any help, have a great weekend all
I just found it was also reported in english on Greenvironment website on may 10th, http://www.greenvironment.de/group/english/documents/110510_GVMplc_EN_pressreleas06_11-final.pdf
Maybe all of your opinions hold at the same time -legalities and being closer to the EOY report-
Either way, i wish we get some benefit from it, at the end
Have a great week you all
that should be the same PR we posted back on May 10th
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62922514
why do they post it today?
having such a high short % and the two most important shareholders shorting their shares, makes sense to me
Weltec builds Hungarian CHP biogas plant
http://www.cospp.com/articles/2011/05/weltec-builds-hungarian-chp-biogas-plant.html
they don't name Capstone but we can say there are microturbines there because last december Greenvironment received a strategic development contract for the integration of its combined heat and power plants with microturbines in biomethane-upgrading plants of WELTEC BIOPOWER GmbH
http://www.irw-press.com/en/news_11013.html
i found this is worth to add to my bookmarks
http://www.cospp.com/cogeneration-chp.html