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GUELPH, Ontario /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced it will showcase its latest high efficiency poly modules, named Ku Modules at the Intersolar Europe from May 31 to June 2 at Messe Munchen in Munich. The Ku Module portfolio uses Canadian Solar's proprietary black silicon cell technology. The black silicon cell efficiency exceeds that of the current standard poly cells in the market. The Ku Modules are "cool" in terms of lower NMOT and lower hotspot risks, resulting in better energy yield and reliability. The Ku Module product portfolio consists of: KuMax (144 cells), KuPower (120 cells), KuBlack (120 cells) and the corresponding double-glass KuDymond. The KuMax modules have a power class up to 360 Watts. The delivery of KuPower modules has started in May 2017. Ku Module product features:
Want to learn more about the new Ku Modules? Click HERE to visit the Company's product page, or contact their team at KuModules@canadiansolar.com for any product-related inquiries.
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GUELPH, Ontario, May 30, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced it has been selected as the sole module supplier to provide 268 MW of double-glass Dymond modules for the first phase of the 800 MW Mohammed bin Rashid Al Maktoum Solar Park (DEWA Project) in Dubai. When completed in 2020, the three-phase DEWA Project will be one of the world's largest single-location solar parks. The EPC Joint Venture (JV) Consortium consists of Acciona, Gransolar and Ghella. The first phase of the DEWA project will use more than 800,000 double-glass modules upon its completion. The production and delivery has started this month.
Canadian Solar's proven track-record, solid bankability and high-quality standards were key factors in winning the mandate from the EPC JV. As a pioneer in double-glass module manufacturing technology, Canadian Solar has delivered close to 1 GW of double-glass modules worldwide since 2013. The Mohammed bin Rashid Al Maktoum Solar Park is part of the Dubai Integrated Energy Strategy 2030, which seeks to secure a sustainable supply of energy through diversification in sources. Dubai aims to reduce its reliance on imported natural gas and increase solar energy to 7% of the total by 2010 and 15% by 2030. Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented: "We are proud to be partnering with Masdar / DEWA / EDF and the EPC JV on this outstanding project. I am confident that Canadian Solar's Dymond modules will perform well in the project's hot desert climate. As Dubai diversifies its energy portfolio, our partnership will serve as an excellent example for future utility-scale solar projects in the region, and we are eager to contribute further to the energy market growth in the Middle East." Legend Power Announces Results for Second Quarter 2017 Record Revenue Quarter on Record Unit Sales and Strong Balance Sheet Vancouver, Canada, May 25, 2017 – Legend Power Systems Inc. (“Legend” or “the Company”)(TSXV: LPS) today reported its second quarter 2017 financial results for the six months ended March 31, 2017. Currency amounts are in Canadian dollars. A complete set of the March 31, 2017 Consolidated Financial Statements and Management’s Discussion & Analysis have been filed on SEDAR (www.sedar.com) and are available on Legend’s corporate website, http://ift.tt/2qg0xE8. For the three months ended March 31, 2017
“The second quarter of fiscal 2017 was the Company’s best ever,” said Randy Buchamer, Legend’s President & CEO. “The beginning of Legend’s Fiscal year marked a transition from startup entity to growth stage company. We added first class talent to the team, strengthened our balance sheet, improved operational capacity, and our product has proven itself a strong performer, offering appreciable value. We have experienced sizable growth in Committed Orders since March 31, 2017 and anticipate this trend to continue even as our sale-to-revenue recognition cycle, shortens. The benefits of our now established five pillar foundation are positively impacting all aspects of our business and should continue to bear fruit as Legend matures as an organization.” The Legend Power sales team continued to increase opportunity flow in core target markets during the quarter. Strategic changes in the sales leadership structure, implemented in the previous quarter, eliminated barriers to success and led to a greater degree of team member empowerment. Several proof-of-concept deals are expected to move to full product rollouts as new opportunities and markets continue to materialize. Organic growth is taking place in key market verticals. Legend is focused on: Sales
Marketing
Engineering
Operations
Financial summary for the three and six month periods ended March 31, 2017 and 2016
1 Gross margin is based on a blend of both equipment and installation revenue. 2 Adjusted EBITDA; for the three and six month periods ended March 31, 2017 and 2016, we are disclosing Adjusted EBITDA, which is a non-IFRS financial measure, as a supplementary indicator of operating performance. We define Adjusted EBITDA as net income or loss before interest, income taxes, amortization, foreign exchange amounts and non-cash stock based compensation. 3 Before other items. Revenue for the second quarter of 2017 was $1,001,382, up from $914,413 in the same period of fiscal 2016. Year to date revenue was $1,646,229, up from $1,447,800 in the same period of 2016. The increases in revenue in both periods are attributable to increasing demand for the Company’s product combined with particularly strong results realized in the education market vertical. Gross blended margin % in the second quarter 2017 was 51.1%, an improvement from 39.0% in the same period of 2016. Year to date gross blended margin was 47.8%, significantly improved from 34.4% in 2016. The increases are due primarily to economies of scale achieved through higher volume of units sold and a stronger profit margin contribution from installation services. Management expects gross blended margin to continue to improve with volume, cost optimization, and a strengthened field operations team focused on profitability in our installation services business. Operating expense as a percentage of revenue in the second quarter 2017 was 75.9% compared with 78.3% in the same quarter of 2016. Year to date operating expense was 91.7%, down from 95.8% in 2016. The decreases in both comparative periods is due primarily to increases in revenue in the current year periods, offset slightly by marginally higher operating expenses as the Company undergoes growth in the current year. Second quarter 2017 Adjusted EBITDA was negative $119,238, a significant improvement from negative $214,622 in 2016. Year to date Adjusted EBITDA was negative $464,952, an improvement over negative $588,062 in 2016. The Company was able to realize these improved results in both comparative periods by achieving stronger sales and gross margin, which was offset slightly by higher operating expenses. Net loss for the second quarter 2017 was $248,198, down from $359,297 in 2016 and year to date was $721,986 down from $889,668 in 2016. Included in the second quarter 2017 net loss before other items were several significant non-cash items, which totaled $128,960, while in the year to date period non-cash items totaled $257,034. Legend has scheduled a conference call to provide a business update and discuss its Q2 2017 financial results for Thursday, May 25, 2017 at 10:00am pacific time (1:00pm ET). The call will be hosted by Randy Buchamer, President & Chief Executive Officer and Steve Vanry, Chief Financial Officer. CONFERENCE CALL DETAILS:
* The Company is reporting Committed Orders, a non-IFRS measure, which is a supplementary indicator of sales activity. Committed Orders herein are tabulated as of the last day of the prior fiscal quarter as opposed to the date of the MD&A, which was previously utilized in the Company’s last reporting period. This measure is being presented based on the belief that it provides the reader a more complete and current understanding of the Company’s sales activity. The measure does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The Company defines Committed Orders as the total number of units committed for purchase by customers, evidenced by either a purchase order, purchase agreement, or both on the last day of the most recently ended fiscal quarter, which had not been recognized in revenue during the proceeding financial periods.
About Legend Power Systems Inc. Legend Power Systems Inc. (www.legendpower.com) markets a proprietary device, the ‘Harmonizer’ that helps individual buildings reduce energy consumption through the utility-proven concept of Conservation Voltage Reduction, (CVR). Legend provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. Legend was recognized as the top performing cleantech company on the TSX Venture Exchange in 2015.
For further information, please contact:
Randy Buchamer, CEO and President + 1 778 945 1501
Sean Peasgood, Investor Relations + 1 416 565 2805
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law. via Legend Power Systems Inc. http://ift.tt/2qZJ7Zr Legend Power Schedules Q2 2017 Financial Results Release and Conference Call Vancouver, Canada, May 18, 2017 – Legend Power Systems Inc. (TSXV: LPS) today announced that it will release its Q2 2017 financial results for the six-months ended March 31, 2017, on Thursday, May 25, 2017 at 6:00am Pacific time (9:00am ET). Legend has also scheduled a conference call to provide a business update and discuss its Q2 2017 financial results for Thursday, May 25, 2017 at 10:00am pacific time (1:00pm ET). The call will be hosted by Randy Buchamer, President & Chief Executive Officer and Steve Vanry, Chief Financial Officer. CONFERENCE CALL DETAILS:
About Legend Power Systems Inc. Legend Power Systems Inc. (www.legendpower.com) markets a proprietary device, the ‘Harmonizer’ that helps individual buildings reduce energy consumption through the utility-proven concept of Conservation Voltage Reduction, (CVR). Legend provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. Legend was recognized as the top performing cleantech company on the TSX Venture Exchange in 2015.
For further information, please contact:
Randy Buchamer, CEO and President + 1 778 945 1501
Sean Peasgood, Investor Relations + 1 416 565 2805
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law. via Legend Power Systems Inc. http://ift.tt/2qekWJO Legend Power Grants Stock Options Vancouver, Canada, May 9, 2017 – Legend Power Systems Inc. (TSXV: LPS), a global leader in voltage reduction and optimization technology, today announced that pursuant to its Stock Option Plan, it has granted incentive stock options to certain employees, directors and officers to purchase up to an aggregate 2,335,000 common shares in the capital of the Company. The options are exercisable at a price of $0.27 per share, and will vest over a 3-year period. The options expire on May 3, 2022. About Legend Power Systems Inc. Legend Power Systems Inc. (www.legendpower.com) markets a proprietary device, the ‘Harmonizer’ that helps individual buildings reduce energy consumption through the utility-proven concept of Conservation Voltage Reduction, (CVR). Legend provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. Legend was recognized as the top performing cleantech company on the TSX Venture Exchange in 2015.
For further information, please contact:
Randy Buchamer, CEO and President + 1 778 945 1501
Sean Peasgood, Investor Relations + 1 416 565 2805
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law. via Legend Power Systems Inc. http://ift.tt/2qe6Rvz  Thermal Energy International Inc. is a Canadian cleantech company with proprietary and proven energy efficiency and emission reduction solutions. The company saves manufacturers and other industrial and institutional operations money, improving their bottom lines by reducing their fuel use and cutting their carbon emissions. Thermal Energy's common shares are listed on the TSX Venture Exchange (TSX-V) under the symbol TMG. Large, fast-growing market with strong fundamentals Governments and businesses around the world are taking unprecedented action on emissions and climate change. Increasing energy productivity is the most cost-effective way to reduce GHG emissions. Not surprising then that $21.8 trillion is expected to be invested in end-use energy efficiency between 2015 and 2040(1). The global waste hear recovery market, the subset of the global cleantech market most relevant to Thermal Energy International, is expected to grow at a CAGR of 6.8% from now to 2022(2). Proven products with application across many industry sectors Thermal Energy has two main products - FLU-ACE Heat Recovery Systems and GEM Steam Traps. Combined, these solutions can increase the efficiency of an industrial or institutional heating and steam system to as much as 95% with typical project paybacks within three to five years. These products have proven applications across many industry sectors, from food and beverage, pulp and paper, chemicals and petrochemicals, to hospitals, pharmaceuticals, tire manufacturing, laundries, and more. Customers include Fortune 500 and many other multinational companies. Strong year-to-date financial performance On April 18, 2017, Thermal Energy announced its financial results for the three months and nine months ended February 28, 2017. Those financial results included revenue and profitability for the year-to-date that were ahead of last year’s pace. In fact, the company's gross profit for the year-to-date was the highest on record for the first nine months of the company's fiscal year. In addition, the company reported that it had no debt and its working capital and net cash balances were up from the end of fiscal 2016. According to the Clayton News Review, Thermal Energy currently has a Gross Margin score of 6.00000. This score is derived from the Gross Margin (Marx) stability and growth over the previous eight years. The Gross Margin score lands on a scale from 1 to 100 where a score of 1 would be considered positive, and a score of 100 would be seen as negative. The Clayton News Review also shows that Thermal Energy has a Piotroski F-Score of 8. The F-Score is a measure of a company's financial strength as demonstrated by its balance sheet. Joseph Piotroski developed the F-Score which employs nine different variables based on the company's financial statements. A single point is assigned to each test that a stock passes. Typically, a stock scoring an 8 or 9 would be seen as strong. On the other end, a stock with a score from 0-2 would be viewed as weak. Any statements on this website that are not statements of historical fact should be considered forward-looking statements. These forward-looking statements generally can be identified by phrases such as "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "intends," or other words or phrases of similar import. All such forward–looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. (1) International Energy Agency World Energy Outlook 2015
(2) P&S Market Research Report on Global Waste Heat Recovery Market GUELPH, Ontario, May 11, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that the company has acquired a minority equity interest in eNow, a U.S. company specializing in solar-based energy management system for the commercial transportation industry. Canadian Solar is now a 10% shareholder of eNow.
The investment will accelerate the expansion and growth of photovoltaic (PV) based mobile energy solutions-utilizing Canadian Solar's PV development and production expertise-and expand eNow's global reach. The partnership brings to market Canadian Solar's leading module technology interfacing with the unique power management system designed by eNow. The solar-based energy management system for commercial vehicles will help to reduce the energy consumption and CO2 emission during engine idling, and also can power vehicles' auxiliary systems. About eNow Founded in 2011 in Providence, Rhode Island, eNow is the market leader in designing, developing and manufacturing solar-based power systems for the commercial trucking, RV, and Marine industries. eNow's solutions are known for their durability, superior power, low cost, and quick return on investment. Over the past several years, eNow has made great progress within the transportation industry, including partnerships with industry leaders such as Dometic Group, Mitsubishi Fuso, Freightliner, Navistar, IdleAir and Vanner. The eNow solar solution is sold through OEMs and Aftermarket Dealers. www.enowenergy.com About Canadian Solar Inc. Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 20 GW of premium quality modules to over 100 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com. GUELPH, Ontario, /PRNewswire/ -- Canadian Solar Inc. ("the Company", "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it will hold a conference call on Tuesday, June 6, 2017 at 8:00 a.m. U.S. Eastern Daylight Time (8:00 p.m., June 6, 2017 in Hong Kong) to discuss the Company's first quarter 2017 results and business outlook.
The dial-in phone number for the live audio call is +1 866 519 4004 (toll-free from the U.S.), +852 3018 6771 (local dial-in from HK) or +1 845 675 0437 from international locations. The passcode for the call is 19673070. A live webcast of the conference call will also be available on the investor relations section of Canadian Solar's website at www.canadiansolar.com. A replay of the call will be available 4 hours after the conclusion of the call until 10:00 a.m. on Wednesday June 14, 2017, U.S. Eastern Daylight Time (10:00 p.m., June 14, 2017 in Hong Kong) and can be accessed by dialing +1 855 452 5696 (toll-free from the U.S.), +852 3051 2780 (local dial-in from HK) or +1 646 254 3697 from international locations, with passcode 19673070. A webcast replay will also be available on the investor relations section of Canadian Solar's at www.canadiansolar.com.  GUELPH, Ontario, May 3, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced energy industry veteran Ty Daul has joined the Company as Energy Group Vice President, Americas. Mr. Daul will lead the Company's energy business units throughout Canada, Latin American and the U.S., which includes wholly owned subsidiary Recurrent Energy.
Throughout his 27 year career in the power generation industry, Mr. Daul has been integrally involved in more than 4 GW of operating renewable projects and 870 MW of operating gas-fired projects, representing more than $7 billion of total investment. Mr. Daul holds a Bachelor of Science Degree in Mechanical Engineering from the University of Washington and an M.B.A. from Texas A&M University. He previously held senior leadership positions at SunPower, Element Power U.S. and Iberdrola Renewables/PPM Energy. GUELPH, Ontario, May 2, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it has secured AUD65 million (US$50 million) of non-recourse project financing with a 5-year term for two of its solar farm power projects in Australia with the Bank of Tokyo-Mitsubishi UFJ, Ltd. ("MUFG") and Clean Energy Finance Corporation ("CEFC").
The 17MW Longreach project and larger 30MW Oakey project in Queensland are both scheduled to commence construction in May 2017 and reach commercial operation in early 2018. The solar power projects are expected to generate clean energy to power nearly 12,000 homes under a 20-year contract for differences awarded under the Queensland government's Solar 150 program. These projects have been awarded AUD3.5 million (US$2.7 million) grant funding from the Australian Renewable Energy Agency ("ARENA"). >> Read More |
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