Introduction

There is a considerable amount of talk in investment and research communities these days about the cost of solar power generation.  Even though the cost of solar power today from sources such as photovoltaic [PV] and solar thermal is more expensive than traditional forms of power generation utilizing resources such as coal and natural gas, many believe that in the long term solar power will achieve cost parity with traditional forms of grid power.  For the reasons stated below, I believe that solar power generation is on track to achieve grid parity in the next few years without the consideration of any government subsidies.

Terex Corporation (TEX) is the 3rd largest manufacturer of construction equipment in the world. The company manufactures equipment for construction, infrastructure, quarrying, mining, shipping, transportation, refining, and utility industries worldwide (Yahoo! Finance, 2008). It operates five primary segments, namely Aerial Work Platforms [AWP], Construction, Cranes, Materials Processing & Mining [MP&M], and Road-building, Utility Products, and Other [RBUO] segments. Sales are geographically diverse with almost 70% of 2007 sales being derived from outside the US. TEX has achieved 12-year compound annual sales growth rate of 27% (Terex, 2008 [PDF]).

Intro

Introduction

Have you opened your electric utility bill lately? Chances are you have noticed the insert sent to you by the utility company that declares their power mix or multiple generating sources that the company utilitizes to bring power to your home or business.

Commonly termed as a portfolio of electrical generating assets (not necessarily all owned by the same utility company), for most investor and publicly owned utilities [IOU/POU] the power mix includes energy generating resources such as natural gas, coal, hydroelectric, nuclear, and of late interest, renewable energy resources such as solar, wind, biomass, and geothermal. For example, in 2007, the power mix disclosed for SMUD, a utility company serving the Sacramento metropolitan area, was found to be 60% natural gas resources, 20% large hydroelectric, and 16% eligible renewable resources.

The Archer Daniels Midland Company (NYSE: ADM) procures, stores, processes, merchandises, and transports agricultural commodities and products in six continents. It operates in three segments: Oilseeds Processing, Corn Processing, and Agricultural Services (Yahoo! Finance, 2008). ADM is a world leader in the production of soy meal and oil, corn for ethanol and sweeteners, wheat and cocoa.

Biofuels vs. Rising Food Prices Debate

An emergent class of vehicles being produced could very well change the future of the automobile industry. Commonly known as Zero Emissions Vehicles (ZEV and PZEV), almost every major automobile manufacturer is strategizing and poised to cater to the emergent demand for these higher fuel efficiency and less polluting vehicles. The underlying and differentiating technological component that makes this class of vehicles a viable, sustainable, and successful alternative to the solely gasoline powered internal combustion engine [ICE] automobile of yesteryear is the lithium-ion (li-ion) battery pack. The unique chemical properties of lithium, mainly its low atomic weight and its ability to ionize or lose electrons (i.e., electronegativity) make it possible to produce li-ion battery packs that are high in energy density, power, and spatial compactness relative to older generation lead acid, nickel cadmium, and nickel metal hydride based battery systems.

Introduction

Manitowoc (MTW) is primarily engaged in the manufacture and distribution of mobile and tower cranes used in construction and other lifting applications. It operates secondary businesses such as the manufacture and marketing of foodservice equipment, and the design and construction of marine vessels. On April 14, 2008 the company announced that its Board of Directors have agreed to acquire British foodservice equipment maker Enodis PLC for $2.1 billion, including the assumption of $200 million of Enodis debt.

This strategic move by MTW to expand a minority business segment allays fears of a classic poison pill defense. Sound preposterous? Read on, and you will find my reasons plausible.

FMC Corporation (FMC) was founded in 1883 and is engaged in agricultural (34%), specialty (25%), and industrial chemical (41%) businesses. I believe FMC holds the future of battery technology. FMC Lithium Division is the world's largest developer and supplier of Lithium based materials for primary and rechargeable batteries used in cell phones, laptops, and now in an emergent class of automobiles called ZEVs and PZEVs.

Industry Endorsement of Lithium Ion