Camino Energy

Two new European IPOs launched in June adding to the number of publicly traded solar and wind companies.    The world’s forth largest wind producer, EDP Renovaveis (EDPR.LS) listed on the Lisbon Exchange on June 2, 2008.  Solar inverter producer SMA Solar Technologies AG (S92.F) listed in Franfort on June 26, 2008.  Both firms are now part of Camino’s ongoing coverage.

On the coverage loss side, one company was eliminated due to its acquision and one was discontinued due to bankruptcy.

The ASX formally suspended quotations for Babcock & Brown Environmental Investments (BEI.AX) on 5/16/08.  Babcock & Brown Environmental Investments Holdings Pty Ltd (Babcock & Brown) has acquired 97.88% of the shares in the company through its takeover offer announced in November 2007. Babcock & Brown has now commenced the process for compulsory acquisition of the outstanding shares by lodging notice (Form 6021) with the Australian Securities & Investments Commission.

On June 6, 2008, Distributed Energy Systems Corp. (DESC) received a Staff Determination Letter from The Nasdaq Stock Market (”Nasdaq”) indicating that, as a result of Distributed Energy Systems’ filing for protection under Chapter 11 of the U.S. Bankruptcy Code, Nasdaq has determined that Distributed Energy Systems’ securities will be delisted from Nasdaq in accordance with the discretionary authority granted to Nasdaq under Marketplace Rules 4300 and IM-4300.

Distributed Energy Systems does not intend to appeal this determination, and, as a result, trading of Distributed Energy Systems’ common stock will be suspended at the opening of business on June 17, 2008, and a Form 25-NSE will be filed with the Securities Exchange Commission to remove Distributed Energy Systems’ securities from listing and registration on Nasdaq.

Coverage for two companies has been suspend due to the lack of public markets for their shares.    

February 22nd, 2008 EPOD International “reorganized” and began doing business as EPOD Solar Inc. (“EPOD Solar”), a company incorporated under the laws of British Columbia.  Following the Reorganization, EPOD Solar became a widely held private company and the shares in EPOD International were de-listed from the Pink Sheets.  ( www.epodinc.com )

Millennium Cell Inc. (Nasdaq:MCEL) was pursuing a PEM based “better battery” strategy but apparently succumbed to losses prior to gaining market traction.  

On May 12, 2008 the Company announced today that its Board of Directors has terminated the employment of all executive officers and employees of the Company effective as of the close of business on Friday, May 9, and has ceased operations. The press release also noted that the Executive Committee of the Board of Directors and certain members of senior management who are serving on a voluntary basis are engaged in discussions with a corporation that has expressed interest in entering into a reverse merger transaction with the Company, which would provide short term liquidity to the Company pending completion. That transaction will require, among other things, that the Company’s common stock remain listed on the NASDAQ and that the Company restructure its existing convertible debentures in a principal amount of approximately $4.1 million after recent conversions. 

On May 27th NASDAQ delisted the Company.      

We lost three this week. 

Recent press highlighted some of the difficulties in the carbon trading market caused by the UN providing greater scrutiny of carbon credit projects.   One of the effects seems to be the bankruptcy and April 4 delisting of AgCert.   AgCert was engaged in methane capture projects to produce carbon offsets.  So if your looking for AgCert in our database,  they aren’t there.  We only cover the public markets.

The news is not all bad for carbon traders over the last year.

Of the four remaining carbon credit companies we track, investors have seen great returns for Climate Exchange.   Camco and EcoSecurities, on the other hand, have had huge losses.   In the middle, Trading Emissions has treaded water.   

We have suspended coverage of two other OTCBB companies, AlgoDyne Ethanol and Orion Ethanol, due to very low trading volume.  If our data service is able to report on these companies we will reinstate coverage.

The last two weeks have been busy for sustainable energy IPOs.   We have expanded our coverage to include the four latest public companies: 

We now cover 344 companies with USD 340 billion in market cap.  Iberdrola alone increased the sector’s market cap by 10% !

New IPOs and growth of sustainable energy business lines continue to add to the list of companies in the sector.  Since our last posting we have indentified 11 additional sustainable energy companies.  They are getting harder to find but our goal is to identify every sustainable energy company on the globe.

With these additions coveage is now provided for 340 companies with market cap of USD 304 billion.

As part of our ongoing monitoring of the markets, Camino has identified ten additional sustainable energy businesses.  After review of their business activities, the following companies have been added to the Camino database: 

With the addition of these companies Camino is now tracking 327 companies with market cap of USD 274 billion.  

Camino has added a new “Energy Navigator” to graphically display the flow of energy in production, transformation, and use.  The Energy Navigator is accessed from the Home and Research pages. The display is dynamically linked to Camino’s database and enables creation of company dashboards for top companies with a single click.  The dashboards link to:

• - tearsheet reports;
• - company news for individual companies or the group; and
• - stock charting for individual companies or the group.

Registered user may now create custom “Watch Lists” of companies.  The feature is accessed through the Reseach page and allows users to create company dashboards for any number of company groups….like custom indicies.   The dashboard report has also been improved to provide a market cap total for the companies included in the report and the report is now deployed throughout the system to display index members, custom search results, Energy Navigator results, and watch list results.    

August 22, 2007 - Camino has moved update information to this new commentary system.  We will use the system to report on index rebalancing, changes to index rules, formation of new indices, changes to our database, and new features available to our readers.   Using information derived from our database, we will occasionally provide original analysis.   Readers may comment on posts and subscribe to an RSS feed to stay on top of our information.