Ormat Buys Stake in Guatemalan Plant; Proton Gets Grant (ORA, DESC)

Includes: DESC-OLD, ORA
by: Mark Anderson

Two news items of note:

  • Ormat Technologies (ticker: ORA) said it has agreed to buy a 50.8 percent partnership interest in Orzunil I de Electricidad Ltd., owner of a geothermal plant in Guatemala, for $14.8 million. The Zunil project includes one power plant with a capacity of 24 megawatts that is expected to generate $12.5 million in revenue next year and boost Ormat's net income by $1.9 million in 2006. [ more ]
  • Distributed Energy Systems Corp (ticker: DESC) announced receipt of its third award from the University of Nevada Las Vegas Research Foundation (UNLVRF) to continue its work (via its Proton Energy Systems subsidiary) on hydrogen fueling stations for automobiles and other motor vehicles. The fueling station's design is expected to incorporate a high-capacity electrolyzer, capable of generating up to 12 kilograms per day of hydrogen -- enough to fuel at least two fuel cell light duty vehicles. [ more ]