North Coast Solar Stocks

November 9, 2009

DayStar Technologies Announces 2009 Third Quarter Financial Results

Filed under: DSTI — Tags: , , , , , — Jason @ 4:38 pm

4:38 pm EST, Monday November 9, 2009

SANTA CLARA, Calif., Nov. 9 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, today announced financial results for its third quarter ended September 30, 2009.

Net loss for the third quarter of 2009 was $6.2 million or $0.18 per share, compared with a net loss of $6.7 million or $0.20 per share in the third quarter of 2008. The lower net loss reflects the implementation of cost savings measures including a reduction in workforce, and also reflects the decrease in payroll and research and development expenses resulting from the sale of DayStar’s Halfmoon, NY operations early in the quarter. The per share losses were calculated on the weighted average common shares outstanding of 33.4 million for the third quarter ended September 30, 2009, compared with 33.3 million for the third quarter ended September 30, 2008.

DayStar had cash and cash equivalents of $1.7 million at September 30, 2009, compared with $17.1 million at December 31, 2008. Net property and equipment was $47.6 million at September 30, 2009 compared to $37.1 million at December 31, 2008, reflecting DayStar’s investment in equipment and improvements, as well as progress made on the construction of production equipment during 2009. As of September 30, 2009, DayStar had total liabilities of $23.8 million, and total stockholders’ equity was $26.2 million. During the third quarter of 2009, DayStar received $2.0 million in bridge financing from Mr. Peter Alan Lacey. In order to continue operations and to build-out its initial manufacturing line and commence commercial shipments of its product, DayStar will require substantial additional funds in the near term. For a description of DayStar’s capital resources and additional funding requirements, please refer to the “Liquidity and Capital Resources” section of DayStar’s Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission earlier today.

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October 20, 2009

DayStar Technologies Announces Termination of Letter of Intent with EPOD Solar, Inc. and Board of Directors and Management Changes

Filed under: DSTI — Tags: , , , — Jason @ 8:34 am

8:34 am EDT, Tuesday October 20, 2009

SANTA CLARA, Calif., Oct. 20 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI; “DayStar”), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, announced today that its board of directors agreed to accept a notice to terminate a previously announced letter of intent regarding a proposed transaction with EPOD Solar, Inc. (Canada). DayStar’s board of directors took these actions in the best interests of all DayStar shareholders.

DayStar will continue to proactively pursue other financing options and strategic relationships which it believes are in the best interests of all DayStar shareholders. The Company will provide additional updates on such initiatives as and when appropriate. In addition, DayStar will continue to pursue the $125 million Loan Guarantee Application with the United States Department of Energy, which was filed on September 14, 2009 under Title XVII of the Energy Policy Act of 2005.

DayStar’s board of directors appointed Mr. Peter Alan Lacey to Chairman of the Board. “We welcome the appointment of Peter Lacey to Chairman of the Board of DayStar,” said Dr. Robert G. Aldrich, former Chairman of the Board. “Peter brings a wealth of experience to DayStar and will assist the company greatly.” As announced on September 21, 2009, DayStar entered into a Purchase Agreement and Security Agreement with Mr. Lacey to provide a bridge loan of $2,000,000. Mr. Lacey is also President & CEO of Cervus LP. Cervus LP acquires and manages agricultural and construction equipment dealerships in Western Canada. Former Chairman of the Board, Dr. Robert G. Aldrich, will retire from the DayStar board effective today. “DayStar sincerely thanks Dr. Aldrich for his many contributions during his six year tenure as a director of the company,” said Mr. Lacey.

DayStar’s board of directors accepted the resignation of Michael Matvieshen as CEO of DayStar. Daystar’s board of directors has appointed William S. Steckel, its current Chief Financial Officer, to the additional positions of President and CEO. “Bill Steckel is well qualified to lead DayStar and I look forward to working with him as we move the company forward,” said Mr. Lacey.

September 21, 2009

DayStar Technologies Executes Letter of Intent With EPOD Solar, Inc. and Enters Into Bridge Financing Agreement

Filed under: DSTI — Tags: , , , — Jason @ 3:49 pm

Monday September 21, 2009, 3:49 pm EDT

SANTA CLARA, Calif., Sept. 21 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI; “DayStar”), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, announced today that it has executed a letter of intent (“Letter of Intent”) with EPOD Solar Inc., a British Columbia corporation (“EPOD Solar”), regarding a proposed transaction or series of related transactions intended to result in the combination of the businesses of EPOD Solar and DayStar (the “Transaction”). Simultaneously with the execution of the Letter of Intent, and in connection with the Transaction, DayStar has also entered into a Purchase Agreement and Security Agreement with Mr. Peter Alan Lacey to provide a bridge loan of $2,000,000.

Upon successful completion of negotiations and due diligence, the parties intend to sign definitive agreements and complete the Transaction as soon as practicable following any required approval by the holders of DayStar’s common stock.

EPOD Solar is a vertically integrated developer, owner and operator of solar parks throughout Europe and North America. EPOD Solar also manufactures amorphous silicon thin film modules for the sole purpose of supplying its developed solar projects. EPOD Solar has 35MW of annual PV panel production capacity and expects to expand to 90MW by Q3 2010. EPOD Solar has more than 150MW of solar park projects in its development pipeline.

The Transaction is premised on the mutual understanding of EPOD Solar and DayStar that their businesses are complementary. EPOD Solar has 35 MW of manufacturing capacity for its amorphous silicon technology, and its research and development arm is poised to deploy double and triple junction technology PV module manufacturing. Amorphous silicon PV modules are best suited for large utility-scale ground mount projects at competitive costs. DayStar’s CIGS technology represents a high-potential thin-film technology.

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September 18, 2009

DayStar Receives NASDAQ Deficiency Notice Relating to Minimum Bid Price

Filed under: DSTI — Tags: , , , — Jason @ 6:19 pm

Friday September 18, 2009, 6:19 pm EDT

SANTA CLARA, Calif., Sept. 18 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, announced today that on September 15, 2009 it received a NASDAQ Staff Deficiency Letter from The NASDAQ Stock Market. The NASDAQ Letter states that for the last 30 consecutive business days, the closing bid price per share for the Company’s common stock has been below the $1.00 minimum per share requirement for continued inclusion under NASDAQ Marketplace Rule 5550(a)(2).

In accordance with NASDAQ Marketplace Rule 5810(c)(3)(A), DayStar will be provided 180 calendar days, or until March 15, 2010, to regain compliance by maintaining a closing bid price per share of $1.00 or higher for a minimum of 10 consecutive business days. If DayStar is unsuccessful in meeting the minimum bid requirement during this initial compliance period, the Company will receive written notification from NASDAQ that its securities are subject to delisting, and at that time the Company may appeal the delisting determination to a Hearing’s Panel. Alternatively, the Company may be eligible for an additional grace period of 180 calendar days if the Company meets the initial listing standards, with the exception of bid price, for The NASDAQ Capital Market. The NASDAQ Letter received on September 15, 2009 has no effect on the listing of the Company’s common stock at this time. The Company will seek to regain compliance within this cure period and is considering appropriate business measures to address compliance with the continued listing standards of The NASDAQ Stock Market.

August 10, 2009

DayStar Technologies Announces 2009 Second Quarter Financial Results

Filed under: DSTI — Tags: , , , , , — Jason @ 4:05 pm

Monday August 10, 2009, 4:05 pm EDT

SANTA CLARA, Calif., Aug. 10 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, today announced financial results for its second quarter ended June 30, 2009.

Net loss for the second quarter of 2009 was $6.7 million or $0.20 per share, compared with a net loss of $7.3 million or $0.22 per share in the second quarter of 2008. The lower net loss reflects a decrease in payroll and related costs due to a reduction in workforce, as well as a decrease in share-based compensation during the second quarter of 2009 as compared with the same period in the prior year. The per share losses were calculated on the weighted average common shares outstanding of 33.4 million for the second quarter ended June 30, 2009, compared with 33.1 million for the second quarter ended June 30, 2008.

DayStar had cash and cash equivalents of $1.3 million at June 30, 2009, compared with $17.1 million at December 31, 2008. Net property and equipment was $50.0 million at June 30, 2009 compared to $37.1 million at December 31, 2008, reflecting DayStar’s continued investment in equipment and improvements, as well as progress made on the construction of production equipment during 2009. As of June 30, 2009, DayStar had total liabilities of $20.8 million, and total stockholders’ equity was $30.9 million. In order to continue operations and to build-out its initial manufacturing line and commence commercial shipments of its product, DayStar will require substantial funds in the near term. For a description of DayStar’s capital resources and additional funding requirements, please refer to the “Liquidity and Capital Resources” section of DayStar’s Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission earlier today.

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July 15, 2009

DayStar Technologies Announces Sale of New York Assets to Support Strategic Partnership Strategy

Filed under: DSTI — Tags: , , , , , — Jason @ 4:30 pm

Wednesday July 15, 2009, 4:30 pm EDT

SANTA CLARA, Calif., July 15 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology announced today the sale of the non-core assets of its Halfmoon, NY operation to Veeco Instruments, Inc. (VECO). Dr. Robert Aldrich, Chief Executive Officer commented, “As we have previously disclosed, we are in negotiations with potential strategic partners to allow us to expand our manufacturing capability and commercialize our CIGS PV modules. This sale of our New York assets is another step in our strategic partnership strategy and is consistent with the direction we established for DayStar approximately two years ago. In 2007 we moved our primary operations to Santa Clara, California and focused our development on single step reactive sputtering on glass substrates and we moved away from flexible foil based CIGS.” Dr. Aldrich further noted, “We have retained the intellectual property developed in New York for future use in either glass or flexible substrate PV modules, while Veeco has purchased assets that will allow them to advance their CIGS solar equipment strategy.”

The sale of the company’s New York assets will reduce annual operating expenses by over $2.0 million. The transaction also allows the company to continue its efforts on the DayStar-proprietary reactive sputter process currently in use to produce CIGS-on-glass photovoltaic modules without diminishing opportunities to re-enter flexible PV module markets when business, technology, and market conditions favor such a product. DayStar’s core technology, the creation of the critical CIGS (copper indium gallium diselenide) layer in a single heated process step using the same proven reactive sputter process as used in virtually all flat panel display and architectural glass factories, remains exclusively owned by the Company.

“Veeco’s efforts to advance their CIGS equipment business, leveraging their extensive portfolio of thermal deposition technology, aligned perfectly with DayStar’s efforts to bring our single step reactively sputtered CIGS to market. Our New York team has provided expert support as the company transferred headquarters to California and we thank them for their contributions. DayStar’s resources are focused on our core technology as we begin our production ramp while our earlier efforts on flexible substrate two-step CIGS facilitates Veeco’s mission in solar,” commented Robert Weiss, DayStar’s Chief Technology Officer.

Further details of the transaction will be disclosed in a Form 8-K to be filed with the Securities and Exchange Commission.

July 14, 2009

DayStar Technologies Announces Organizational Changes to Support Strategic Partnership Strategy

Filed under: DSTI — Tags: , , , — Jason @ 4:30 pm

Tuesday July 14, 2009, 4:30 pm EDT

SANTA CLARA, Calif., July 14 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, today announced several organizational changes. “We are in negotiations with potential strategic partners that will allow us to expand our manufacturing capability and commercialize our CIGS PV modules,” said Dr. Robert Aldrich, Chief Executive Officer. “The promotion of key members of our team and the re-assignment of related responsibilities is being executed now as part of our strategic partnership strategy.”

Ratson Morad resigned from his role as President and Chief Operating Officer effective July 10, 2009. “We are grateful for Mr. Morad’s efforts since he joined DayStar in February 2008,” stated Dr. Aldrich. “We wish Mr. Morad the very best in his future endeavors.”

In order to more effectively align with and support DayStar’s strategic partnership strategy, the company announced the appointment of David Dailor as the company’s Senior Director of Operations. Since joining DayStar as Senior Director of Fab Operations in 2008, Mr. Dailor has managed the company’s Newark, CA factory layout, infrastructure build out and initial installation of manufacturing tools. In his new role, Mr. Dailor will also be responsible for coordinating DayStar’s manufacturing operations with the manufacturing resources of potential strategic partners. “Dave Dailor has done a great job managing the design and build out of our initial manufacturing facility,” said Dr. Aldrich. “He is well qualified to integrate our manufacturing operations with our potential strategic partners,” added Dr. Aldrich. Mr. Dailor has over 15 years of experience leading high-tech manufacturing operations to increase output, reduce cycle time and increase yields. He has managed large organizations operating on a 24×7 basis. Prior to joining DayStar, Mr. Dailor has held various positions at companies including KLA Tencor Corporation, VLSI Technology and Texas Instruments.

In his new role, Mr. Dailor will report to Bill Steckel, the company’s Chief Financial Officer. Mr. Steckel will continue to lead the company’s financial functions and will add Legal, Human Resources and Operations responsibilities. Mr. Steckel has over 25 years experience in technology companies, including experience as the Factory Manager of an optoelectronic factory startup and as the President of a global manufacturer of power supplies generating $450 million of annual revenues. “Bill has the depth of experience to lead our operating team as we forge relationships with potential strategic partners,” commented Dr. Aldrich. “He has managed global operations and is experienced with both in house and contract manufacturing, which will suit DayStar well as the company moves forward.”

Patrick J. Forkin III has been appointed Sr. Vice President of Corporate Development and Strategy. Mr. Forkin joined DayStar as Vice President – Corporate Development in September 2008. “I am delighted to recognize Patrick Forkin’s significant contributions in the development of our potential strategic partnerships,” stated Dr. Aldrich. “He will continue to manage our strategic partnerships, government relations and the development of corporate strategies,” added Dr. Aldrich. Mr. Forkin has over 20 years of senior level experience in renewable energy equity research, corporate finance, mergers and acquisitions and strategic planning. Mr. Forkin is a certified public accountant. Prior to joining DayStar, Mr. Forkin has held various positions at companies including Deloitte & Touche, Tejas Securities Group and J. Michael-Patrick, LLC.

June 15, 2009

Solars Down Sharply; Prices “In Free Fall”; Beware TSMC

Filed under: CSUN, DSTI, ESLR, FSLR, HOKU, JASO, SOLF, SOLR — Tags: , , , , , , — Jason @ 1:03 pm

Posted by Eric Savitz
barrons.com

Solar shares, which in recent weeks have staged a ferocious rally, are getting hammered today, as investors take profits amid concerns about pricing and demand in the sector. As I noted last week, even some of the smallest and most speculative solar names had taken off, making the sector look more than a little frothy. But with some smaller solar players running into trouble – Hoku Scientific (HOKU) on Friday said it might run out of cash before it can complete a planned polysilicon factory – the stocks today are losing ground.

In a research report late Friday, FBR Capital analyst Mehdi Hosseini said that product prices in the sector are falling more than expected. He says that while investors are anticipating “a hockey-stick shaped demand uptick in the U.S., China and other emerging countries,” he instead sees a slow roll-out of subsidies, tightened terms from financiers and over-hyped news items, some from untrustworthy sources.

Hosseini writes that declining prices are not stimulating demand as many had expected, and that the take-off of demand growth is being push into the first half 2010. “In this environment of unstable pricing and financing conditions…investors are better off staying on the sidelines and focusing more on poly manufacturers,” he writes, adding that with more than a quarter’s worth of finished goods in inventory, and weak end-market demand due tight finance conditions, Q2 EPS reports could be disappointing.

Hosseini writes that spot poly prices have fallen as low as $60/kg in the Asian market, though most is priced at the $65-$70/kg range, well below the $90-$95 price in early April. He says price for six-inch solar wafers have fallen as low at $3, with most sold in the $3.20-$3.40 range. Cell prices, he says, are in the $1.30 to $1.50/watt range, down from $1.80-$2 in early April.

Here’s a look at some of today’s biggest movers in the solar sector:

* Evergreen Solar (ESLR), a big winner last week, is down 25 cents, or 9.5%, to $2.37.
* GT Solar (SOLR) is down 94 cents, or 13.6%, to $5.95.
* JA Solar (JASO), which was downgraded today by Lazard Capital to Hold from Buy, is down 37 cents, or 6.5%, to $5.30.
* Solarfun (SOLF) is down 70 cents, or 9.1%, to $7.02.
* China Sunergy (CSUN) is down 50 cents, or 8.8%, to $5.19.
* First Solar (FSLR) is down $5.18, or 2.8%, to $178.62.
* DayStar (DSTI) is down 11 cents, or 11.4%, to 87 cents.

Update: One other thing. The New York Times on Saturday reported that Taiwan Semiconductor (TSM), the world’s leading contract chip manfuacturer, wants to get into the solar business, as well as the LED lighting market. The Times notes that TSMC is “one of the most formidable manufacturers on the planet,” and could drive down prices, as it did in the chip business. The piece notes that TSMC last week shifted CEO Rick TsaiMorris Chang, the company’s chairman and founder, to a new job targeted at finding new business opportunities.

June 1, 2009

What is thin-film solar power?

Filed under: ASTI, DSTI, ENER, FSLR, GE — Tags: , , , , — Jason @ 1:41 pm

Mon Jun 1, 2009 1:41pm EDT

LOS ANGELES, June 1 (Reuters) – Solar panels made with little or no polysilicon, broadly known as thin-film, could lose their competitive advantage over silicon-based modules because prices of polysilicon have plunged since last year.

*Thin film solar panels are less efficient at transforming sunlight into electricity than the traditional crystalline silicon panels that dominate the market. They are generally lower in cost, however, because they do not rely on polysilicon, the price of which had skyrocketed in recent years.

*In 2008, thin film represented about 20 percent of the photovoltaic solar market, or about 1.16 gigawatts.

*Three technologies fall under the thin film umbrella: amorphous silicon, cadmium telluride, and copper indium gallium selenide, or CIGS.

*Amorphous silicon panels use about 1 percent of the silicon needed for traditional panels. Its comparative thinness is enabling amorphous-silicon panels to be integrated into buildings, including doubling as roof shingles.

Top manufacturers include U.S.-based Energy Conversion Devices Inc (ENER) and Japan’s Kaneka Corp, Sharp Corp and Sanyo.

*Cadmium telluride is the semiconductor material used in panels made by thin film industry leader First Solar Inc (FSLR). Cadmium telluride’s success has come from its low cost, despite efficiencies that lag silicon-based competitors.

Other cadmium telluride panel makers include privately-held U.S. company Abound Solar and General Electric Co (GE)-backed PrimeStar Solar Inc, which has yet to begin commercial production.

*CIGS is a compound semiconductor material made of copper, indium, gallium and selenium. The U.S. Department of Energy’s National Renewable Energy Laboratory said last year they had set a new efficiency record of 19.9 percent for CIGS cells, nearing the record for crystalline silicon cells. However, no company has neared efficiency in the factory.

CIGS manufacturers include Ascent Solar Technologies Inc (ASTI), DayStar Technologies Inc (DSTI) and privately-held Solyndra, Global Solar, and Nanosolar, which is backed by Google (GOOG) founders Larry Page and Sergey Brin. Sources: New Energy Finance, U.S. Department of Energy

(Reporting by Nichola Groom; Editing by Tim Dobbyn)

May 13, 2009

DayStar Technologies Announces Management Change and Workforce Reduction

Filed under: DSTI — Tags: , , — Jason @ 4:05 pm

Wednesday May 13, 2009, 4:05 pm EDT

SANTA CLARA, Calif., May 13 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, today announced that at the request of the Board of Directors, Stephan J. DeLuca resigned from his roles as Chief Executive Officer and director of DayStar effective May 12, 2009. DayStar also announced the appointment of Robert G. Aldrich, Chairman of the Board of Directors of DayStar, to the additional position of Chief Executive Officer of the Company, effective May 12, 2009. DayStar also announced plans to implement a reduction of approximately 30 percent of its workforce. The reduction is expected to be completed in the second quarter.

“We are grateful for Dr. DeLuca’s efforts over the past few years as the company achieved many key technical and operational milestones,” stated Dr. Aldrich. “We wish Dr. DeLuca the very best in his future endeavors.”

“I am excited about the opportunity to lead DayStar’s senior management team as we continue our efforts to build-out our initial manufacturing line and commence commercial shipments of our product. “I believe that our senior management team, including Ratson Morad, President and Chief Operating Officer, Bob Weiss, Chief Technology Officer, Bill Steckel, Chief Financial Officer and Patrick Forkin VP – Corporate Development are committed and well qualified to accomplish our objectives,” stated Dr. Aldrich.

“We continue to face a challenging operating environment that requires us to make difficult decisions,” said Dr. Aldrich. “We believe the workforce reduction announced today, coupled with our ongoing focus on expense control, will help us accomplish our objectives and conserve cash.”

Dr. Aldrich was appointed DayStar’s Chairman of the Board in September 2008. He joined DayStar as a director in October 2003. Since 1995, Dr. Aldrich has provided executive and consulting assistance to identify and develop business opportunities arising from globalization, technology, environmental quality, and energy deregulation.

Dr. Aldrich served from 1992 to 1995 as Group Vice President, Electric Power Research Institute (EPRI). From 1990 to 1992, he was a director of Ramtron, a public company developing non-volatile memory chips. Prior experience includes executive positions with Alcan Aluminum Corporation, Niagara Mohawk Power Corporation, and Syracuse Research Corporation. Dr. Aldrich holds a Ph.D. in Solid State Science and Technology from Syracuse University and a Bachelor in Metallurgical Engineering from Rensselaer Polytechnic Institute.

May 11, 2009

DayStar Technologies Announces 2009 First Quarter Financial Results

Filed under: DSTI — Tags: , , , , , — Jason @ 6:21 pm

Monday May 11, 2009, 6:21 pm EDT

SANTA CLARA, Calif., May 11 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, today announced financial results for its first quarter ended March 31, 2009.

Net loss for the first quarter of 2009 was $7.7 million or $0.23 per share, compared with a net loss of $4.5 million or $0.14 per share in the first quarter of 2008. The higher net loss reflects an increase in research and development expenses incurred during 2009 for CIGS-on-glass module and manufacturing process development. The per share losses were calculated on the weighted average common shares outstanding of 33.5 million for the first quarter ended March 31, 2009, compared with 32.8 million for the first quarter ended March 31, 2008.

DayStar had cash and cash equivalents of $6.5 million at March 31, 2009, compared with $17.1 million at December 31, 2008. Net property and equipment was $45.8 million at March 31, 2009 compared to $37.1 million at December 31, 2008, reflecting DayStar’s continued investment in equipment and improvements, as well as progress made on the construction of production equipment during 2009. As of March 31, 2009, DayStar had total liabilities of $16.0 million, and total stockholders’ equity was $37.0 million. In order to continue operations and to build-out its initial manufacturing line and commence commercial shipments of its product, DayStar will require substantial funds in the near term. For a description of DayStar’s capital resources and additional funding requirements, please refer to the “Liquidity and Capital Resources” section of DayStar’s Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission earlier today.

Conference Call

The Company intends to schedule a conference call to be announced at a later date to discuss first quarter financial results and an update on strategic partnership and financing activities.

    Contact:
    DayStar Technologies, Inc.

    William S. Steckel                 Patrick J. Forkin III
    Chief Financial Officer            Vice President - Corporate Development
    408/582.7100                       408/907.4633
    investor@daystartech.com           investor@daystartech.com

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March 20, 2009

Doubts emerge over DayStar Technologies as a going concern

Filed under: DSTI — Tags: , , , , — Jason @ 12:05 pm

20 March 2009 | By Mark Osborne

Copper-indium-gallium-di-selenide (CIGS) thin-film start-up, DayStar Technologies (DSTI) has said that its auditor Hein & Associates LLP of Irvine, California included an audit opinion in its latest SEC financial filings that contained a going concern notice. The company had posted losses of approximately US$26 million in 2008 and acknowledged that it needed to raise further capital to continue development of its CIGS technology and bring the product to market.

DayStar Technologies has made a net loss of approximately US$20 million in 2006 and US$36 million in 2007.

William Steckel, Chief Financial Officer”As we stated in our conference call on March 16, 2009 and reported in our 10-K filing, our commercialization plans require additional capital to be raised,” said William Steckel, Chief Financial Officer. “In November 2008, we engaged J.P. Morgan Securities to act as our financial advisor to assist us in exploring select strategic transactions, which we believe represent the best source for our capital requirements.”

Hein & Associates noted that the company still required ‘substantial funds beyond its current cash on hand’ to carry-out its plans, raising ‘substantial doubt about the company’s ability to continue as a going concern.’

March 16, 2009

DayStar Technologies Announces 2008 Fourth Quarter and Year End Financial Results

Filed under: DSTI — Tags: , , , — Jason @ 4:01 pm

Monday March 16, 4:01 pm ET

SANTA CLARA, Calif., March 16 /PRNewswire-FirstCall/ –DayStar Technologies, Inc. (DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, today announced financial results for its fourth quarter and full year ended December 31, 2008.

Net loss for the fourth quarter of 2008 was $7.8 million or $0.23 per share, compared with a net loss of $8.0 million or $0.29 per share in the fourth quarter of 2007. Net loss for the full year ended December 31, 2008 was $26.3 million or $0.79 per share, compared with a net loss of $36.1 million or $2.09 per share in 2007. The lower net loss reflects a significant reduction in non-recurring, non-cash expenses, primarily related to the restructuring of a convertible note and other changes in business strategy in 2007. This reduction in non-cash expenses was partially offset by increased operating expenses incurred during 2008 for CIGS-on-glass module and manufacturing process development. The per share losses were calculated on the weighted average common shares outstanding of 33.4 and 33.2 million for the fourth quarter and year ended December 31, 2008, respectively, compared with 27.5 and 17.3 million for the fourth quarter and year ended December 31, 2007, respectively, reflecting the sale of shares in connection with Daystar’s follow on public offering in October 2007.

DayStar had cash and cash equivalents of $17.1 million at December 31, 2008, compared with $61.4 million at December 31, 2007. Net property and equipment was $37.1 million at the end of 2008 compared to $9.1 million at the end of 2007, reflecting DayStar’s investment in equipment and improvements during 2008. As of December 31, 2008, DayStar had total liabilities of $11.4 million, and total stockholders’ equity was $43.5 million.

Conference Call

DayStar will hold its year end conference call today, Monday, March 16, 2009, at 2 pm Pacific time. To listen to the call, dial (412) 858-4600 approximately 10 minutes prior to the start of the call. The pass code is DayStar. A taped replay will be made available approximately one hour after the conclusion of the call and will remain available for one week. To access the replay, dial (412) 317-0088. The pass code is 428596.

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November 13, 2008

DayStar Technologies Announces Q3 2008 Financial Results

Filed under: DSTI — Tags: , , , — Jason @ 4:05 pm

Thursday November 13, 4:05 pm ET

Commercialization Progress Continues

SANTA CLARA, Calif., Nov. 13 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of photovoltaic products based on CIGS thin-film semiconductor technology, today announced financial results for its third quarter ended Sept. 30, 2008.

Net loss for the third quarter was $6.7 million, or a loss of $0.20 per share, compared with a net loss of $3.8 million, or a loss of $0.25 per share in the third quarter of 2007. The increase in net loss reflects higher operating expenses for CIGS-on-glass module and manufacturing process development as the company continued its progress toward commercialization. The per share loss was calculated on the weighted average common shares outstanding of 33.3 million, compared with 15.2 million in the third quarter of last year, reflecting the company’s public offering in the fourth quarter of 2007.

DayStar had cash, cash equivalents and investments of $34.4 million at Sept. 30, 2008, compared with $47.9 million at June 30, 2008. Except for operating accounts, all of the company’s cash is invested in U.S. treasury instruments. As of Sept. 30, 2008, the company had total liabilities of $8.1 million, and total stockholders’ equity was $50.2 million.

The company also reported third quarter capital investments of $9.5 million to support its planned ramp to commercial production.

“We are pleased to announce that we have met our third quarter technical milestones and are now focused on successfully scaling up our single step deposition process,” said Dr. Stephan DeLuca, chief executive officer. “We have achieved greater than 12 percent cell efficiencies on our 2′ by 4′ substrates. Additionally, we have continued to build out CIGS 1, our first production deposition tool, and we expect to have the capability to produce full 2′ by 4′ modules in the first quarter of 2009” he said.

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October 10, 2008

Final Position Stops Out (portfolio beats S&P 500 by over 35%)

Filed under: AKNS, AMAT, ASTI, CSIQ, CSUN, DSTI, EMKR, ENER, ENSL, ESLR, FSLR, HOKU, ICPR, JASO, LDK, RSOL, SOL, SOLF, SPIR, SPWR, STP, TSL, WFR, YGE — Tags: , , — Jason @ 4:20 pm

We’re not done here by any means.  Just protecting capital.  For those who took profits earlier, you are in great shape.  For the long term holders, book your losses and prepare for a re-entry once the wash sales are clear.

The fundamentals here are still strong in most cases and the growth going forward is outstanding.  We will follow the strength when we buy back in.  What we’ve seen so far is only the beginning.

Symbol Company Name Entry Date Entry Price Exit Date Exit Price P/L $ Days P/L %
AKNS AKNS – Akeena Solar, Inc. 6/13/2007 $     3.62 9/9/2008 $     3.50 $   (0.12) 454 -3%
AMAT AMAT – Applied Materials, Inc. 6/13/2007 $    18.94 9/17/2008 $    16.00 $   (2.64) 462 -14%
ASTI ASTI – Ascent Solar Technologies, Inc. 6/13/2007 $     7.30 9/8/2008 $     7.00 $   (0.30) 453 -4%
CSIQ CSIQ – Canadian Solar Inc. 6/13/2007 $     9.71 10/3/2008 $    16.00 $    6.29 478 65%
CSUN CSUN – China Sunergy Co. Ltd. 6/13/2007 $    11.02 8/6/2007 $     8.00 $   (3.02) 54 -27%
DSTI DSTI – DayStar Technologies, Inc. 6/13/2007 $     5.13 7/25/2008 $     3.00 $   (2.13) 408 -42%
EMKR EMKR – EMCORE Corp. 1/18/2008 $    10.49 3/18/2008 $     7.00 $   (3.49) 60 -33%
ENER ENER – Energy Conversion Devices, Inc. 6/13/2007 $    30.30 10/10/2008 $    30.00 $   (0.30) 485 -1%
ESLR ESLR – Evergreen Solar, Inc. 6/13/2007 $     8.82 9/9/2008 $     7.00 $   (1.82) 454 -21%
FSLR FSLR – First Solar Inc. 6/13/2007 $    73.75 10/3/2008 $  160.00 $  86.25 478 117%
HOKU HOKU – Hoku Scientific Inc. 6/13/2007 $     4.50 10/9/2008 $     4.00 $   (0.50) 484 -11%
ICPR ICPR – ICP Solar Technologies, Inc. 6/13/2007 $     3.05 12/28/2007 $     1.00 $   (2.05) 198 -67%
JASO JASO – JA Solar Holdings, Co., Ltd. 6/13/2007 $     8.34 9/10/2008 $    12.00 $    3.66 455 44%
LDK LDK – LDK Solar Co., Ltd. 6/13/2007 $    23.43 10/6/2008 $    25.00 $    1.57 481 7%
RSOL RSOL – Real Goods Solar, Inc. 7/8/2008 $     6.00 9/9/2008 $     5.50 $   (0.76) 63 -13%
SOL SOL – ReneSola Ltd. 7/10/2008 $    13.45 9/11/2008 $    12.00 $   (1.45) 63 -11%
SOLF SOLF – Solarfun Power Holdings Co., Ltd. 6/13/2007 $     8.46 9/29/2008 $    10.00 $    1.54 474 18%
SPIR SPIR – Spire Corp. 9/13/2007 $    10.00 7/14/2008 $    10.00 $       – 305 0%
SPWR SPWR – SunPower Corp. 6/13/2007 $    53.75 10/8/2008 $    50.00 $   (3.75) 483 -7%
STP STP – Suntech Power Holdings Co. Ltd. 6/13/2007 $    32.00 10/2/2008 $    30.00 $   (2.00) 477 -6%
TSL TSL – Trina Solar Ltd. 6/13/2007 $    39.94 9/9/2008 $    25.00 $ (14.94) 454 -37%
WFR WFR – MEMC Electronic Materials 6/13/2007 $    57.28 7/10/2008 $    50.00 $   (7.28) 393 -13%
WWAT WWAT – WorldWater & Solar Technologies 3/19/2008 $     1.00 6/2/2008 $     0.70 $   (0.30) 75 -30%
YGE YGE – Yingli Green Energy Holding Co. Ltd. 11/29/2007 $    27.26 2/20/2008 $    18.00 $   (9.26) 83 -34%
Average $    1.80 345 -5%

October 8, 2008

DayStar Provides Q3 Milestone Update

Filed under: DSTI — Tags: , , , — Jason @ 8:30 am

Wednesday October 8, 8:30 am ET

Progress Continues; On-Track for Q1 2009 Production

SANTA CLARA, Calif., Oct. 8 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of photovoltaic products based on CIGS thin film semiconductor technology, today will provide updates on two major areas: technical accomplishments, including Big Baby progress, and the build-out of the company’s Newark, Calif. production facility. Dr. Stephan DeLuca, the company’s CEO, will provide these updates in a conference call today at 10 am Pacific time.

To listen to the call, dial 210-839-8501 approximately 10 minutes prior to the start of the call. The pass code is DayStar. The conference call will be available via a live webcast on the investor relations section of the DayStar website at http://www.daystartech.com. Access the web site 15 minutes prior to the start of the call to download and install any necessary audio software. An archived webcast replay will be available on the web site for 12 months. A taped replay will be made available approximately one hour after the conclusion of the call and will remain available for one week. To access the replay, dial 203-369-3944. The pass code for the replay is 1234.

“We have met all of our Q3 technical goals and we are maintaining our timeline to begin production in Q1 2009 and commercial shipments in Q3 2009,” Dr. DeLuca said. “We have been working on scaling up our deposition process with Big Baby, which allows us to deposit CIGS simultaneously on two, 2ft x 4ft glass substrates. To this date, we have met all of Big Baby’s technical milestones. The work we have done with Big Baby has given me confidence that we have a fundamental tool design suitable for high volume CIGS production.

“We are on track in building our production line. CIGS 1 is now being assembled in our Newark facility with the final CIGS 1 chambers due to arrive next week. We expect to be able to run process in CIGS 1 before the end of this year. The tenant improvements in the manufacturing building are well under way and on time to meet the scheduled deliveries of the purchased tool sets for the remainder of the process steps. We continue to closely monitor our vendors to ensure on time deliveries of the production tools. We have moved engineering and materials management teams to our Newark facility, and we expect to have our complete operations team moved there this quarter,” he said.

DeLuca also noted that the Company’s plans to move beyond completion of its production line and facility and to support commercial production are dependent upon securing substantial additional capital to fund future operations. “We are currently considering various alternatives to secure the necessary additional financing to maintain our production scale-up and commercialization plans,” he said. “Given current market conditions, the ability to secure necessary financing on acceptable terms remains a significant risk, but we believe that our technology and production capabilities are compelling.”

August 6, 2008

DayStar Technologies Announces Q2 2008 Financial Results

Filed under: DSTI — Tags: , , , — Jason @ 4:05 pm

Wednesday August 6, 4:05 pm ET

Continues Progress on Milestones

SANTA CLARA, Calif., Aug. 6 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of photovoltaic products based on CIGS thin-film semiconductor technology, today announced financial results for its second quarter of 2008, ended June 30, 2008.

Net loss for the second quarter was $7.3 million, or a loss of $0.22 per share, compared with a net loss of $6.4 million, or a loss of $0.42 per share in the second quarter of 2007. The increase in net loss mainly reflects higher research and development expenses for DayStar’s CIGS-on-glass module and manufacturing process development, as expected. The per share loss was calculated on the weighted average common shares outstanding of 33.1 million, compared with 15.0 million in the second quarter of last year, reflecting the company’s public offering in the fourth quarter of 2007.

DayStar had cash, cash equivalents and investments of $47.9 million at June 30, 2008, compared with $56.3 million at March 31, 2008. Except for operating accounts, all of the company’s cash is invested in treasury instruments. As of June 30, 2008, the company had total liabilities of $5.8 million, and total stockholders’ equity was $56.0 million.

The company also reported second quarter capital investments of $4.5 million to support its planned ramp to commercial production. Outstanding purchase orders for production equipment totaled approximately $15.6 million as of Aug. 4, 2008.

“I am pleased that we have met all of the first half milestones that we set out at the end of last year,” said Dr. Stephan DeLuca, chief executive officer. “We demonstrated our single stage sputter deposition process, producing CIGS films with greater than 14 percent conversion efficiency over large areas. We produced mini-modules with greater than 11.5 percent conversion efficiency and the modules passed the critical 1000 hour damp heat cycle testing that indicates a 20 year module lifetime.

“During the first half of 2008, DayStar designed, built and began operations of its manufacturing prototype CIGS coater, Big Baby, and we have begun process scale-up by depositing CIGS on 2’x4′ glass panels. We secured a manufacturing facility for our first production line, and we have placed orders for the equipment to build that line. Looking forward, the company expects to have a scaled-up CIGS deposition process on Big Baby by the end of this quarter, and we expect to begin the build-out of the manufacturing line in September, which is necessary for our production line to be up and running in our new facility in the first quarter of next year,” he said.

(more…)

July 20, 2008

In U.S., solar panels get aesthetic designs

Filed under: DSTI, SPWR, STP — Tags: , , , — Jason @ 9:26 pm

Sun Jul 20, 2008 9:26pm EDT

By Joshua Brown

NEW YORK (Reuters) – Bulky and obtrusive rack-mounted solar panels may be a thing of the past.

Spurred by recent advances in technology, solar panel makers are scrambling to come up with neater and cleaner products that will overcome the aesthetic objections of home owners to traditional solar panels.

They are building their technology directly into different kinds of roof tiles, hiding them in walls and lining the tops of patio awnings with them.

“Bottom line, people don’t want goofy looking roofs,” said Julie Blunden of solar panel manufacturer SunPower Corp (SPWR).

SunPower is making solar panels designed to work seamlessly with both flat roof tiles and the curved, Spanish-style clay tiles popular in parts of California and other sunny places. SunPower, controlled by Cypress Semiconductor, is the leading U.S. manufacturer, but has half its sales in Europe.

Lumeta, a division of DRI Energy, has similar integrated panels in the final stages of industry certification, manufactured by China’s Suntech Power Holdings Corp (STP).

Both SunPower’s and Lumeta’s panels are made using silicon, the same raw material used in solar panels since the 1950s. Advances in technology using a new semiconductor called copper indium gallium selenide (CIGS) promises much thinner panels that are easier to hide.

(more…)

July 8, 2008

DayStar Provides Mid-Year Update

Filed under: DSTI — Tags: , — Jason @ 4:05 pm

Tuesday July 8, 4:05 pm ET

Remains on Track for Q1 2009 Production

SANTA CLARA, Calif., July 8 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of photovoltaic products based on CIGS thin-film semiconductor technology, today will provide a mid-year update on its progress in three major areas: mini-module development, the scale-up of its CIGS deposition process and its build-out of the production line for commercial shipments. Dr. Stephan DeLuca, the company’s CEO, will also discuss his new organization and take questions from investors in a conference call at 2pm Pacific time.

To listen to the call, dial 210-839-8501 approximately 10 minutes prior to the start of the call. The pass code is DayStar. The conference call will be available via a live webcast on the investor relations section of the DayStar website at http://www.daystartech.com. Access the web site 15 minutes prior to the start of the call to download and install any necessary audio software. An archived webcast replay will be available on the web site for 12 months. A taped replay will be made available approximately one hour after the conclusion of the call and will remain available for one week. To access the replay, dial 402-280-9982.

Mini-Module Development

The company has progressed from the initial task of proving the CIGS deposition process to development of the monitoring and control systems required for the anticipated scale-up of the process. DayStar has successfully developed these systems to the point at which it now believes it has effective control over the reactive sputtering process, a key milestone in the scale-up process of “Big Baby,” its initial manufacturing line.

Engineering the Scale-up

The initial tests on Big Baby have gone well, and the films made from it have been well within the uniformity specifications the company originally set. “The results of the three significant tests we have run give us confidence that the basic structure of our tool design is sound, so we have released the tool design to begin fabrication of our production CIGS deposition tool,” said Dr. DeLuca. “We believe we are on track to have our first production line up and running in the first quarter of 2009. We continue to expect the first production CIGS chambers to arrive in September of this year,” he said.

(more…)

July 2, 2008

Stop Loss Limits Moved Higher

Filed under: AKNS, AMAT, ASTI, CSIQ, CSUN, DSTI, EMKR, ENER, ENSL, ESLR, FSLR, HOKU, ICPR, JASO, LDK, SOLF, SPIR, SPWR, STP, TSL, WFR, YGE — Tags: , , , — Jason @ 9:20 am

We won’t let a horrible market sink this great portfolio. Stay with strength as the industry sorts itself out.

Symbol Company Name Entry Date Entry Price Stop Loss Last Price P/L $ Days P/L %
AKNS AKNS – Akeena Solar, Inc. 6/13/2007 $     3.62 $    3.50 $     5.23 $    1.61 385 44%
AMAT AMAT – Applied Materials, Inc. 6/13/2007 $    18.94 $   16.00 $    19.28 $    0.34 385 2%
ASTI ASTI – Ascent Solar Technologies, Inc. 6/13/2007 $     7.30 $    7.00 $     9.98 $    2.68 385 37%
CSIQ CSIQ – Canadian Solar Inc. 6/13/2007 $     9.71 $   16.00 $    36.36 $  26.65 385 274%
CSUN CSUN – China Sunergy Co. Ltd. 6/13/2007 $    11.02 $    8.00 $     7.64 $   (3.02) 385 -27%
DSTI DSTI – DayStar Technologies, Inc. 6/13/2007 $     5.13 $    3.00 $     4.29 $   (0.84) 385 -16%
EMKR EMKR – EMCORE Corp. 1/18/2008 $    10.49 $    7.00 $     5.58 $   (3.49) 166 -33%
ENER ENER – Energy Conversion Devices, Inc. 6/13/2007 $    30.30 $   30.00 $    68.20 $  37.90 385 125%
ESLR ESLR – Evergreen Solar, Inc. 6/13/2007 $     8.82 $    7.00 $     9.47 $    0.65 385 7%
FSLR FSLR – First Solar Inc. 6/13/2007 $    73.75 $ 160.00 $  270.68 $ 196.93 385 267%
HOKU HOKU – Hoku Scientific Inc. 6/13/2007 $     4.50 $    4.00 $     4.75 $    0.25 385 6%
ICPR ICPR – ICP Solar Technologies, Inc. 6/13/2007 $     3.05 $    1.00 $     0.60 $   (2.05) 385 -67%
JASO JASO – JA Solar Holdings, Co., Ltd. 6/13/2007 $     8.34 $   12.00 $    15.79 $    7.45 385 89%
LDK LDK – LDK Solar Co., Ltd. 6/13/2007 $    23.43 $   25.00 $    34.99 $  11.56 385 49%
SOLF SOLF – Solarfun Power Holdings Co., Ltd. 6/13/2007 $     8.46 $   10.00 $    16.14 $    7.68 385 91%
SPIR SPIR – Spire Corp. 9/13/2007 $    10.00 $   10.00 $    12.14 $    2.14 293 21%
SPWR SPWR – SunPower Corp. 6/13/2007 $    53.75 $   50.00 $    66.65 $  12.90 385 24%
STP STP – Suntech Power Holdings Co. Ltd. 6/13/2007 $    32.00 $   30.00 $    34.41 $    2.41 385 8%
TSL TSL – Trina Solar Ltd. 6/13/2007 $    39.94 $   25.00 $    29.28 $ (10.66) 385 -27%
WFR WFR – MEMC Electronic Materials 6/13/2007 $    57.28 $   50.00 $    59.64 $    2.36 385 4%
WWAT WWAT – WorldWater & Solar Technologies 3/19/2008 $     1.00 $    0.70 $     0.67 $   (0.30) 105 -30%
YGE YGE – Yingli Green Energy Holding Co. Ltd. 11/29/2007 $    27.26 $   18.00 $    14.92 $   (9.26) 216 -34%
Average $  12.90 350 37%

June 13, 2008

Happy Anniversary – Beating the S&P 500 by 58% in the first year

Filed under: AKNS, AMAT, ASTI, CSIQ, CSUN, DSTI, EMKR, ENER, ENSL, ESLR, FSLR, HOKU, ICPR, JASO, LDK, SOLF, SPIR, SPWR, STP, TSL, WFR, YGE — Tags: , , — Jason @ 8:20 pm

Solar has been on fire for a while now, and we jumped in right at the perfect time.

The original group did even better as three of four recent additions were stopped out with a loss.

Here’s to keeping a good thing going, we certainly have enough sunshine.

I look for more gains ahead as this sector matures and consolidation begins.

New technological developments are on our radar as we discover the next generation of solar and begin to separate the long term winners from the rest of the pack.

Symbol Company Name Entry Date Entry Price Stop Loss Last Price P/L $ Days P/L %
AKNS AKNS – Akeena Solar, Inc. 6/13/2007 $     3.62 $    1.80 $     5.45 $    1.83 366 51%
AMAT AMAT – Applied Materials, Inc. 6/13/2007 $    18.94 $   14.00 $    20.09 $    1.15 366 6%
ASTI ASTI – Ascent Solar Technologies, Inc. 6/13/2007 $     7.30 $    3.50 $    10.93 $    3.63 366 50%
CSIQ CSIQ – Canadian Solar Inc. 6/13/2007 $     9.71 $    6.00 $    39.00 $  29.29 366 302%
CSUN CSUN – China Sunergy Co. Ltd. 6/13/2007 $    11.02 $    8.00 $    10.87 $   (3.02) 366 -27%
DSTI DSTI – DayStar Technologies, Inc. 6/13/2007 $     5.13 $    2.00 $     3.96 $   (1.17) 366 -23%
EMKR EMKR – EMCORE Corp. 1/18/2008 $    10.49 $    7.00 $     7.79 $   (3.49) 147 -33%
ENER ENER – Energy Conversion Devices, Inc. 6/13/2007 $    30.30 $   20.00 $    66.99 $  36.69 366 121%
ESLR ESLR – Evergreen Solar, Inc. 6/13/2007 $     8.82 $    5.00 $     9.44 $    0.62 366 7%
FSLR FSLR – First Solar Inc. 6/13/2007 $    73.75 $   40.00 $  274.39 $ 200.64 366 272%
HOKU HOKU – Hoku Scientific Inc. 6/13/2007 $     4.50 $    2.00 $     6.02 $    1.52 366 34%
ICPR ICPR – ICP Solar Technologies, Inc. 6/13/2007 $     3.05 $    1.00 $     0.66 $   (2.05) 366 -67%
JASO JASO – JA Solar Holdings, Co., Ltd. 6/13/2007 $     8.34 $    5.00 $    19.45 $  11.11 366 133%
LDK LDK – LDK Solar Co., Ltd. 6/13/2007 $    23.43 $   15.00 $    38.20 $  14.77 366 63%
SOLF SOLF – Solarfun Power Holdings Co., Ltd. 6/13/2007 $     8.46 $    6.00 $    18.74 $  10.28 366 122%
SPIR SPIR – Spire Corp. 9/13/2007 $    10.00 $    8.00 $    11.76 $    1.76 274 18%
SPWR SPWR – SunPower Corp. 6/13/2007 $    53.75 $   20.00 $    77.75 $  24.00 366 45%
STP STP – Suntech Power Holdings Co. Ltd. 6/13/2007 $    32.00 $   20.00 $    41.10 $    9.10 366 28%
TSL TSL – Trina Solar Ltd. 6/13/2007 $    39.94 $   15.00 $    38.99 $   (0.95) 366 -2%
WFR WFR – MEMC Electronic Materials 6/13/2007 $    57.28 $   25.00 $    63.48 $    6.20 366 11%
WWAT WWAT – WorldWater & Solar Technologies 3/19/2008 $     1.00 $    0.70 $     0.64 $   (0.30) 86 -30%
YGE YGE – Yingli Green Energy Holding Co. Ltd. 11/29/2007 $    27.26 $   18.00 $    18.85 $   (9.26) 197 -34%
Average $  15.11 331 47%

May 16, 2008

Great Week for Gains on Strong Earnings Reports

Filed under: AKNS, AMAT, ASTI, CSIQ, CSUN, DSTI, EMKR, ENER, ENSL, ESLR, FSLR, HOKU, ICPR, JASO, LDK, SOL, SOLF, SPIR, SPWR, STP, TSL, WFR, YGE — Tags: , , , — Jason @ 6:00 pm

Six Stocks Trade Up Over 30% For the Week Alone

Stockcharts.com Market Carpet

April 2, 2008

New solar CIGS cells creep up on silicon

Filed under: ASTI, DSTI, FSLR — Tags: , — Jason @ 1:05 pm

Wed Apr 2, 2008 1:00pm EDT

By Matt Daily

NEW YORK (Reuters) – Silicon cells have been the mainstay of the solar photovoltaic industry, but advances in competing technologies could give those manufacturers a toehold in the rapidly growing renewable power market.

Last week, researchers at the U.S. Department of Energy’s National Renewable Energy Laboratory said they had achieved a new efficiency record for one of those promising technologies, putting it within reach of the silicon cell mark.

The new technology uses copper indium gallium selenide, or CIGS, to turn sunlight into electricity inside a thin-film solar cell that is generally less expensive than versions relying on polysilicon.

CIGS technology converts 19.9 percent of the sunlight hitting the cell into power, beating the previous mark of 19.5 percent and nearing the multicrystaline silicon cell record of 20.3 percent.

Although the increase in efficiency looks modest, it would represent a 3 percent rise in production capacity for a company putting out one megawatt of electricity per year, said Ingrid Repins, a researcher on the NREL team. One megawatt can power about 850 homes.

Silicon-based solar cells held 94 percent of the global market in 2006, according NREL data, with the remaining 6 percent split among thin-film companies, including CIGS makers.

But that thin-film market share appears to be growing rapidly, helped by the opening of plants by companies such as First Solar, which uses different materials to construct its cells.

Just a few years ago, CIGS cells’ efficiency stood near 15 percent, Repins said, and the technology is probably capable of reaching 23 percent in coming years.

Global Solar, a privately held company that licenses CIGS technology from the NREL, last month opened an Arizona plant that will be capable of producing 40 MW of thin-film solar cells per year, and it plans to open another in Germany later this year.

Other companies using CIGS technology include NanoSolar, which sparked market interest last year with its promise to make low-cost cells, as well as Ascent Solar Technologies, Miasole, International Solar Electric Technology Inc, SoloPower Inc and Solyndra.

Analysts do not expect many public offerings from the sector in the near-term because of market turmoil that has caused shares of even the largest solar companies to swing wildly.

Daystar, one of the only publicly listed CIGS makers, has seen its stock sink by about half this year to around $3.40 as it moves toward putting its production plant on line.

LAB TO FACTORY FLOOR

Natixis Bleichroeder analyst Mark Manley said the CIGS producers still needed to prove they could turn technological advances into viable products.

“What you can do in the lab is one thing, but what you do in commercial production is another,” he said. “What matters ultimately in solar from the economic standpoint is how many kilowatt hours you can produce for your dollar.”

Global Solar cells’ efficiency is about 10 percent, or half the level NREL achieved on a small scale in the lab.

The company’s long-range goal is to mass-produce cells with 15 percent efficiency, said Chief Technology Officer Jeff Britt.

“We have to develop manufacturing processes that are much faster … and we have to coat many square meters (with the CIGS semiconducting material),” he said.

Under their nonexclusive pact, the NREL provides Global Solar with updates on its technological advances.

“In many cases, we’re able to emulate the changes that they made in our own production,” Britt said. “It’s very helpful.”

March 12, 2008

Clean energy sales expected to triple in next decade

Filed under: DSTI — Tags: , , — Jason @ 6:13 pm

The Business Review (Albany)

Worldwide markets for clean energy are expanding rapidly, and strong growth is expected over the next decade, according to a new report by Clean Edge Inc.

Revenue in biofuels, wind power, solar photovoltaics and fuel cells grew 40 percent in 2007, to $77.3 billion worldwide, according to the Portland, Ore.-based energy research firm.

Clean Edge predicts total revenue for the sectors will more than triple to nearly $255 billion by 2017.

New investment in clean energy development grew 60 percent in 2007, to more than $148 billion worldwide. In the U.S. last year, $2.7 billion in venture capital — almost 10 percent of total venture investing — went to clean energy.

“Clean energy has moved from the margins to the mainstream, and the proof is in these numbers,” said Ron Pernick, co-founder of Clean Edge, in a statement Tuesday.

For the first time, three clean energy technologies passed the $20 billion revenue mark in 2007.

Wind power is the largest of these, with more than $30 billion in revenue. Clean Edge expects wind to remain the biggest sector by revenue, and projects revenue of $83.4 billion for 2017.

Biofuels are the second largest sector, and growing faster than wind power. Wholesale sales of biofuels reached $25.4 billion in 2007, and are projected to be more than $81 billion in 2017. Ethanol dominates the biofuel sector now, with more than 13 billion gallons sold last year, compared with more than 2 billion gallons of biodiesel sold last year.

Solar photovoltaic technology sales were $20.3 billion last year. This is the sector expected to grow the fastest of all, to $74 billion by 2017.

The Albany, N.Y., area is invested in clean energy with a number of research efforts and clean tech companies located here. Malta is home to the Saratoga Technology + Energy Park, one of the first tech parks in the country devoted to alternative energy. And companies such as Plug Power Inc. (PLUG) and MTI MicroFuel Cells Inc., a subsidiary of Mechanical Technology Inc. (MKTY), are focused on fuel cell technology. DayStar Technologies (DSTI), a solar cell company which recently relocated its headquarters to California, has an operation in Halfmoon. New Energy New York, a consortium of alternative energy companies, is based in Albany as well.

March 6, 2008

DayStar reports net loss of $36M in ’07

Filed under: DSTI — Tags: , , , — Jason @ 5:00 pm

The Business Review (Albany)

DayStar Technologies Inc. reported a net loss of $36.1 million, or $2.09 a share, for the fiscal year ending Dec. 31, compared with a net loss of $20.4 million, or $3 a share, in 2006.

The solar cell developer which is now based in Santa Clara, Calif. said the loss was the result of an increase in non-recurring non-cash expenses during the year. DayStar (DSTI) reported revenue of $60,000, for the year, down from $183,528 in 2006.

DayStar also announced it has signed a letter of intent with Juwi Solar GmbH, based in Germany. Financial terms of the deal were not disclosed. Juwi will work with DayStar in the early stages of production to test and evaluate the product in field installations. Juwi also committed to buy up to 25 percent of DayStar’s production through 2011. Juwi has 260 employees in 10 countries. The company has developed more than 600 photovoltaic power plants.

Terry Schuyler, DayStar’s vice president of sales and marketing, said Juwi Solar will help the company enter into current and emerging markets internationally.

DayStar was lured to the Albany, N.Y., area from California in 2004 with $11 million in state incentives. The company officially listed its headquarters as Santa Clara, Calif., last month. It still has a Halfmoon operation.

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