Comments The Stalwart:
SunPower Corp. filed papers with the Securities and Exchange Commission on Thursday for an initial public offering of up to $100 million in Class A stock. The Sunnyvale maker of solar power products said there is also an option granted to the underwriters to purchase up to an additional $15 million to cover over-allotments.
And who says that the market doesn't respond to price signals? It's been around for 20 years but is doing particularly well as of late:
And at $68/Gallon oil stuff like this will be getting more attention:
SunPower's net loss in the first six months of this year was $13.6 million, compared to a loss of $11.1 million in the same period last year, according to the filing. Its revenue grew to $27.5 million in the first six months of this year, compared to $3.6 million in th first six months of last year, according to the filing.
For years, the realm of "so-called" alternative energy has been championed by greens who wanted the world to switch over to energy 3-times as expensive as oil. But at price parity, the politics completely dissapears and gives way to cold calculating economics. Finding a tech-based, abundant alternative to scarce fossil fuels is a really appealing idea.
One day last July, Ted Sargent was typing away in his office at the University of Toronto when a graduate student rushed in. His excited visitor explained that he had just shone infrared light -- invisible to the human eye -- onto a tiny sample of a special material Sargent and his researchers had developed, and the sample actually converted the light into energy. Always the skeptic, Sargent asked, "Did you turn the [overhead] lights off?"
Soon, however, it became clear that this research group had stumbled onto something big. Sargent and his team describe their discovery -- the world's first plastic solar cell able to absorb infrared light -- in the February issue of the prestigious industry journal Nature Materials. Their little sample could bring about a sea change in the energy industry, perhaps making solar energy so cheap that it becomes a viable alternative to fossil fuels.
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