GUELPH, Ontario, June 28, 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 held its 2017 Annual Meeting of Shareholders on June 28, 2017. Each of the proposals submitted for shareholder approval was approved. Specifically, the shareholders approved:
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 a provider of solar energy solutions, Canadian Solar 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 21 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 publically listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
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GUELPH, ON, June 20, 2017 /CNW/ – BIOREM Inc. (TSX-V: BRM) (“BIOREM” or “the Company”) announces that it has entered into a strategic partnership with Tus-Material Group to market globally their ultrafiltration membranes.
Ultrafiltration membranes provide a barrier to contaminants in water including suspended solids and pathogens such as cryptosporidium, E. coli, and viruses. Tus-Material Group membranes offer specific advantages over competitive filtration membranes in the market, including higher productivity, greater strength and ability to treat a wide water quality range. Their ultrafiltration membranes are used in all aspects of water treatment, including filtration of surface water, pre-treatment of seawater for purification using reverse osmosis, and filtration of secondary effluents and industrial water streams for recycle. “As the quality and quantity of clean water diminishes across the world, demand for ultrafiltration will continue to grow. The global ultrafiltration market was estimated at $3.3 Billion in 2016, and with a robust 5 year compound annual growth rate (CAGR) of 6.9% is expected to hit $4.6 billion in 2021. BIOREM is in a unique position to leverage our competence, relationships and distribution networks to access the opportunities that this demand is creating. Diversification of markets and products will help to grow the Corporation to becoming a global leader in providing environmental services.” - Derek Webb, President & CEO. Tus-Material Group is a subsidiary of the TUS Holdings Group. The TUS Holdings Group represents a diverse set of companies engaged in the water, wastewater, solid waste and renewable energy sectors, with approximately $30 billion in assets. About BIOREM Inc. BIOREM is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odors, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). With sales and manufacturing offices across the continent, a dedicated research facility, a worldwide sales representative network and more than 1,000 installed systems worldwide, BIOREM offers state-of-the-art technology-based products and peace of mind for municipalities, industrial companies and their surrounding communities. GUELPH, Ontario and RIO DE JANEIRO, June 19, 2017 /PRNewswire/ -- Canadian Solar Inc., one of the world's largest solar power companies, and EDF Energies Nouvelles, a global market leader in renewable energy, announced today the acquisition of 80% interest in Canadian Solar's Pirapora II solar energy project in Brazil by EDF Energies Nouvelles' local subsidiary, EDF EN do Brasil.
The 115 MWp Pirapora II project will start construction in the fall of 2017 and is expected to reach commercial operation in 2018. Canadian Solar will supply the modules for the project from its 380 MWp modules factory established in Brazil to support the local market. The Pirapora II project, located in the state of Minas Gerais in Brazil, was awarded a 20-year Power Purchase Agreement in the first Reserve Energy Auction. Once completed, the project will generate 231,992 MWh per year and contribute towards the country's goal of obtaining 23% of its energy from non-hydro renewable sources by 2030. In October 2016, EDF EN do Brasil acquired 80% of Canadian Solar 191.5 MWp Pirapora I project, also located in Minas Gerais. The two projects are adjacent to each other and at combined 306.5 MWp constitute one of the largest solar energy projects in Latin America. "The investment by EDF Energies Nouvelles in Canadian Solar's Pirapora II project is another testament to the quality of Canadian Solar's project pipeline in Brazil. We have now partnered with EDF EN for two of our three projects in Brazil with awarded long-term PPAs, totaling 306.5 MWp. EDF EN is an important strategic partner of Canadian Solar and we look forward to further expanding our cooperation, while we grow our project pipeline in Brazil and other countries," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. Antoine Cahuzac, Senior Executive Vice President in Renewable Energies of EDF and Chief Executive Officer of EDF Energies Nouvelles added, "This additional Pirapora major solar project confirms the EDF's Group strong ambition to strengthen and diversify its renewables assets portfolio in Brazil, in partnership with a specialized company such as Canadian Solar. Pirapora I 191MW solar project and two wind projects are currently under construction by EDF Energies Nouvelles in the country. EDF Group is also involved in the hydraulic project –Sinop." BTG Pactual served as financial advisor to Canadian Solar in the transaction. Vancouver, Canada, June 15, 2017 – Legend Power Systems Inc. (TSXV: LPS), a global leader in voltage reduction and optimization technology, today announced the Harmonizer was listed as one of a select group of technologies approved by the Ontario Ministry of Education for its additional $1 billion facilities improvement funding. Schoolboards in Ontario can access this fund to purchase Legend’s proprietary energy-saving technology outside of their standard operating budget. There are approximately 4,700 kindergarten to grade 12 schools in Ontario that have access to this additional funding. “Budget allocation is a big priority for schools in Ontario and additional funding over and above their normal operating budget represents a great opportunity for more schoolboards to purchase our product,” commented Erik Wolfe, Director of Sales for Legend Power. “The Harmonizer reduces greenhouse gas emissions by helping buildings use less power. Using less power means lower power bills and electrical equipment lasts longer. Both offer a long-term financial benefit for schools equipped with Harmonizers. We are aggressively taking action to let schoolboards in Ontario know that our technology qualifies for this additional funding.” The education market in Ontario has proven to be an early adopter of Legend’s technology with schoolboards installing Harmonizer’s to reduce electricity costs, maximize the life of electrical equipment, and to reduce the environmental impact of their schools. Strict guidelines limit the pool of qualifying products and measures to ensure funding is applied to facilities improvement, repairs, and retrofit upgrades. The $1 billion fund is divided into two segments with $800 million allocated for school condition improvement and $200 million for greenhouse gas reduction. Legend’s Harmonizer qualifies in both segments. The technology is listed by name as an eligible component in the $200 million segment guaranteeing the product qualifies for funding. “The fact that a Voltage Harmonizer was approved by the Ministry of Education for funding further validates the effectiveness of our solution and the universal applicability of our technology,” said Randy Buchamer, President and CEO of Legend Power. “Ontario Utilities support our technology by subsidising it for our customers. The government recognizes it’s benefit by listing it as an eligible component. Our technology is becoming known within our target markets as a best-in-class solution for saving energy. This budget funding is a major step forward to streamline the Harmonizer purchasing process for schoolboards in Ontario.” This additional source of funding adds to the growing demand for Legend’s technology in the education market. More institutions can now acquire Legend’s Harmonizer because of fewer budgetary barriers. Legend Power is deploying resources to aggressively capitalize on this mutually beneficial opportunity. About Legend Power Systems Inc. Legend Power Systems Inc. (www.legendpower.com) is changing the way buildings around the world use power. The company’s patented and proprietary technology reduces overvoltage, a natural condition present in power grids around the world. Overvoltage inflates energy costs, damages electrical equipment, and increases the negative impact a building has on the environment. Legend’s utility-proven Harmonizer improves the power efficiency of an entire building to reduce total energy consumption and power costs, while maximizing equipment life. The solution 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. In 2015 Legend was recognized as the top performing cleantech company on the TSX Venture Exchange. 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/2stDXHW Legend Power Expands Sales Team with the Addition of Two New Business Development Managers6/15/2017 Vancouver, Canada, June 13, 2017 – Legend Power Systems Inc. (TSXV: LPS), a global leader in voltage reduction and optimization technology, today announced the addition of two new members to its Ontario-based direct sales team. Lauren Davis and Keon Karamchi were added as Business Development Managers to increase the company’s sales capacity due to strong demand in emerging market verticals. The new additions will compliment the existing sales team by adding horsepower to existing market verticals for expansion and revenue growth. “Expanding our direct sales team is the critical next step in our strategic expansion plan,” stated Randy Buchamer, President and CEO of Legend Power. “We’ve built a repeatable selling model based on what we’ve learned to date. Expanding our sales team will allow us to satisfy increasing product demand and quickly scale up sales activity and revenue growth. Everything we learn in a direct sales environment will be applied to a distributor-based selling model as we expand into new geographic territories and countries.” Legend Power has established business in 13 market verticals with strategic emphasis on the 6 identified as the highest growth potential for its Harmonizer solution. Record revenue growth and considerable market penetration continues to grow in the education sector with deals spanning individual institutions and various school boards. Specific sectors to receive additional sales resource deployment due to untapped market opportunity and pent-up demand include retail, property management, and government. Direct sales activity to develop core market verticals into organically growing profit centers provides Legend the intelligence to successfully and systematically migrate to a distribution partner selling methodology. By directly understanding the needs, common objections, and path to sales success, the company can properly train and enable channel partners to sell Harmonizer systems. Expansion through a network of local distribution partners is the next growth stage for the organization.
About Legend Power Systems Inc. Legend Power Systems Inc. (www.legendpower.com) is changing the way buildings around the world use power. The company’s patented and proprietary technology reduces overvoltage, a natural condition present in power grids around the world. Overvoltage inflates energy costs, damages electrical equipment, and increases the negative impact a building has on the environment. Legend’s utility-proven Harmonizer improves the power efficiency of an entire building to reduce total energy consumption and power costs, while maximizing equipment life. The solution 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. In 2015 Legend was recognized as the top performing cleantech company on the TSX Venture Exchange. 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/2t6fUMW Thermal Energy International to Present at the MicroCap Conference on June 27th in Toronto6/13/2017 Thermal Energy International Inc. (TSX-V: TMG) will be presenting at this year's MicroCap Conference on June 27th in Toronto. The cleantech company is a global provider of proven solutions that reduce carbon emissions and improves the energy efficiency of industrial and institutional operations. Thermal Energy's CEO, William Crossland, will be presenting at the conference at 2:30 p.m. and will be available throughout the day for one-on-one meetings with interested investors.
CONFERENCE OVERVIEW AND STRUCTURE The MicroCap Conference is an exclusive event for investors who specialize in small and microcap stocks. It is an opportunity to be introduced to and speak with management at some of the most attractive small companies, learn from various expert panels, and mingle with other microcap investors. The MicroCap Conference will take place in Toronto at the Sheraton Centre Hotel on June 27th. Registration will begin on Tuesday at 7:00AM, and the event will last until the evening. The day will be jam-packed with company sessions, presentations, good food, and plenty of time to network with other investors over drinks at the reception. This event does not allow service providers - only portfolio managers, analysts, and private investors. REGISTRATION FOR INVESTORS To register, please go to our website (http://microcapconf.com/conferences/toronto-2017/), and click "Request Registration." News Compliments of ACCESSWIRE. FOR MORE INFORMATION Please visit: www.microcapconf.com Or, contact Tony Yu at tony@microcapconf.com GUELPH, Ontario, June 6, 2017 /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced its financial results for the first quarter of 2017 ended March 31, 2017.
First Quarter 2017 Highlights
Summary Financial Results (for full news release click here) Net revenue in the first quarter of 2017 was $677.0 million, up 1.3% from $668.4 million in the fourth quarter of 2016 and down 6.2% from $721.4 million in the first quarter of 2016. Solar module shipments recognized in revenue totaled 1,489 MW, compared to 1,581 MW recognized in revenue in the fourth quarter of 2016 and 1,172 MW recognized in revenue in the first quarter of 2016. Solar module shipments recognized in revenue in the first quarter of 2017 included 176.3 MW used in the Company's total solutions business, compared to 85.6 MW in the fourth quarter of 2016 and 24.8 MW in the first quarter of 2016. Gross profit in the first quarter of 2017 was $91.4 million, compared $49.0 million in the fourth quarter of 2016 and $112.5 million in the first quarter of 2016. Gross margin in the first quarter of 2017 was 13.5%, compared to 13.9% in the fourth quarter of 2016, (excluding the AD/CVD true-up provision of $44.1 million) or compared to 7.3% (including the AD/CVD true-up provision of $44.1 million) in the fourth quarter of 2016, and compared to 15.6% in the first quarter of 2016. Total operating expenses were $93.7 million in the first quarter of 2017, up 54.4% from $60.7 million in the fourth quarter of 2016 and up 26.5% from $74.1 million in the first quarter of 2016. Loss from operations was $2.3 million in the first quarter of 2017, compared to loss from operations of $11.8 million in the fourth quarter of 2016, and income from operations of $38.4 million in the first quarter of 2016. Excluding the $8.6 million LDK provision and the $44.1 million AD/CVD true-up provision, income from operations would have been $6.3 million and $32.3 million in the first quarter of 2017 and in the fourth quarter of 2016, respectively. Operating margin was negative 0.3% in the first quarter of 2017, compared to negative 1.8% in the fourth quarter of 2016 and 5.3% in the first quarter of 2016. Excluding the $8.6 million LDK provision and the $44.1 million AD/CVD true-up provision, operating margin would have been 0.9% and 4.8% in the first quarter of 2017 and in the fourth quarter of 2016, respectively.Non-cash depreciation and amortization charges were approximately $17.1 million in the first quarter of 2017, compared to $19.3 million in the fourth quarter of 2016, and $25.7 million in the first quarter of 2016. Non-cash equity compensation expense was $0.9 million in the first quarter of 2017, compared to $2.2 million in the fourth quarter of 2016 and $2.5 million in the first quarter of 2016. |
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