Is This The Future Of Green Energy?
Where there’s power being produced, there are researchers looking into how it might be harvested and put to use, n...
WASHINGTON — President Barack Obama and Brazilian President Dilma Rousseff announced on Tuesday new joint efforts to confront climate change, committ…
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Today, the Earth got a little hotter, and a little more crowded.
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The secretary general of the United Nations is frustrated with the pace of negotiations for what’s intended to be a crucial agreement limiting global warming.
Climate change pledges submitted so far from the world’s leading economies won’t be enough to keep the planet from warming dangerously, UN Secretary General Ban Ki-moon said Monday in New York.
Proposals to reduce heat-trapping emissions need to be “a floor, not a ceiling,” he said.
The global increase in temperatures will exceed 2 degrees Celsius (3.6 degrees Fahrenheit) under the national pledges already submitted to UN, Ban said. That’s the goal scientists and the UN have set to avoid the worst effects due to global warming.
The proposals submitted to date “will not be enough to place us on a 2-degree pathway,” Ban said.
Without any changes to global emissions, the world is on track to warm by 4 degrees Celsius or more, UN Assistant Secretary-General for Climate Change Janos Pasztor said earlier this month.
World leaders have five months to go before a meeting of almost 200 nations in Paris that’s intended to seal a new global pact to cut planet-warming carbon emissions. If successful, the agreement would be the first ever to require both developed nations like the US and growing economies like China to address climate change.
“The pace of UN negotiations are far too slow,” Ban said. “It’s like a snail’s pace.”
The U.S., the world’s biggest historic source of greenhouse gases, pledged earlier this year to cut its emissions by as much as 28 percent by 2025. The European Union has promised a 40 percent cut by 2030. Several other major economies, including Australia and Japan, have yet to submit climate plans to the UN.
Coal kills, and alternative energy can help save lives. But only if ethics can overcome aesthetics.
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The Supreme Court may have dealt a crushing blow this week to President Barack Obama’s efforts to curb climate change, but all is not lost.
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by Debra Fiakas CFA
Mid-June 2015, Ocean
Power Technologies (OPTT:
Nasdaq) announced final permits had been secured to deploy one of
its power buoys off the coast southeast of New York City. The
company has lost no time in laying down mooring lines for the
buoy. The next step is to watch the skies for the best weather
conditions to deploy the buoy. Over the next year, Ocean Power
will collect data the power buoy’s performance.
Ocean Power Technologies is a developer of ocean wave energy
technology. The company has been working on its ‘power buoy’
for over fifteen years for off-grid as well as integrated network
electricity generation. The company’s website provides a
concise description of how the power buoy works, using a mechanical
system to drive electrical generators using wave motion. Two
different designs provide size and capacity alternatives.
In the twelve months ending January 2015, Ocean Power generated $4.0
million in total revenue with its power buoy technology. That
revenue level is not adequate to support development and other
operating costs. The net loss was $13.1 million.
For any company not yet generating profits, the first question has
to be about the adequacy of cash resources to support operations
until sales begin to ramp. Operations used $13.2 million in
cash during the twelve-month period ending January 2015. With
another $19.2 million in cash in the bank, it would appear Ocean
Power has some time to keep working on its power buoys. That
said, we note that activity has been suspended under the company’s
contract with Mitsui Engineering & Shipbuilding for the purposes
of gathering and evaluating data needed in the next step of the
project. Work is expected to resume yet in 2015, but with a
reduction in revenue in the quarter ending April 2015, it is not
likely the company can report growth in sales over the prior fiscal
Investment in developmental stage companies like Ocean Power is
fraught with risk. What if the technology does not work?
What if management cannot develop a good strategy to commercialize
its technology? On and on it goes with problems and
pitfalls. With that practical view in mind, I note that Ocean
Power has been making progress with each passing quarter, with
management blocking and tackling each obstacle as it comes along.
OPTT looks over sold according to one of my favorite technical
indicators, the Commodity Channel Index. Granted this
micro-cap stocks trades with so little volume technical indicators
can be less than robust. Earlier this year, the company has
notified by Nasdaq that continued listing is in jeopardy if the
price is not brought up above $1.00. Unfortunately, the
current price of OPTT is still just over two bits.
Nonetheless, at the current price level the stock is more an option
on management’s ability to move the ball forward. For
investors with a tolerance for risk, a two-bit option on Ocean
Power’s technology and management team could be an interesting play
on renewable energy from the ocean.
Debra Fiakas is the Managing Director of Crystal Equity
Research, an alternative
research resource on small capitalization companies in selected
Neither the author of the Small Cap
Strategist web log,
Crystal Equity Research nor its affiliates have a beneficial
interest in the companies mentioned herein. OPTT is included in
the Ocean Group of Crystal
Equity Research’s Electric Earth Index.
Date: 5/14/2015The Energy Department’s Wind Program is seeking feedback from the wind industry, academia, research laboratories, government agencies, and other stakeholders regarding the key challenges currently facing offshore wind energy and the Wind…