The persuasiveness of Tesla head Elon Musk resulted in more than 90 percent of Tesla and SolarCity shareholders following his recommendation and approving the takeover of the latter. Now, Tesla will expand its electric car portfolio by offering solar roofs. The impact of the merger on Tesla’s financials will show as early as the fourth quarter of 2016, when SolarCity’s results are added to the corporation’s balance sheet. The most important factor is the around USD 3 billion in debt. (more…)
FuelCell Energy’s stock went into free fall: Within a few days, the company’s shares had lost half of their value. Management didn’t even see the need to comment on the price drop for some time. On Dec.1, 2016, the Canadian business finally broke its silence and announced in a business update that it was letting go staff to adapt to new and lower projections of annual megawatt power closer to 25 than 50 MW. The move is reported to cut costs by USD 6 million each year. (more…)
Despite a higher-than-expected net loss of USD 1.9 million in the third quarter and only USD 6.7 million in revenue – down 30 percent from the same period the year prior – Hydrogenics could report a record USD 106.2 million in order bookings, of which USD 30 million should be realized within the next 12 months. One of the customers that had placed new orders was E.ON, and the integration of fuel cell stacks with trains and streetcars in collaboration with Alstom is turning out to be a success. (more…)
The German fuel cell manufacturer Proton Motor based in Puchheim had already experienced major management changes last summer, with Achim Loecher leaving his executive position at the end of July, and Thomas Melczer stepping down from both his executive and non-executive role in the company. Melczer became director of business development and investor relations at parent company Proton Power Systems in December 2010 and temporarily assumed the role of Proton Motor Fuel Cell’s CEO. (more…)
In early December 2016, Energy Saxony elected a new board during its general assembly meeting. The state energy technology association is now headed by Mandy Schipke, CEO of Novum engineering, and Frank Arnold, manager at Energie Sachsen Ost and Stadtwerke Dresden. The other newly elected members to the board were Dietmar Lauter, WISAG, Mareike Wolter, IKTS, and Thilo Bocklisch, professor at TU Dresden. (more…)
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The persuasiveness of Tesla head Elon Musk resulted in more than 90 percent of Tesla and SolarCity shareholders following his recommendation and approving the takeover of the latter. Now, Tesla will expand its electric car portfolio by offering solar roofs. The impact of the merger on Tesla’s financials will show as early as the fourth quarter of 2016, when SolarCity’s results are added to the corporation’s balance sheet. The most important factor is the around USD 3 billion in debt. (more…)
