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Strategies & Market Trends : Picks of the quarter -- Ignore unavailable to you. Want to Upgrade?

To: Cogito who wrote (7383)	4/16/2009 9:03:31 AM
From: coug	Read Replies (1) \| Respond to of 20435

Allen, BCON now trading about 20 cents higher in pre-market at around .64.. Whoops now down to about .60.. :) at 6:17 am.. Maybe because of this.. We will see if it holds .. :) <<<<<<<<<<<<<<<<<<<<<<<<<< dow jones news on session page =DJ DOE To Issue New Loan Guarantee, Grant Solicitations Soon . By Ian Talley Of DOW JONES NEWSWIRES ( parts missing ) WASHINGTON (Dow Jones)--The Department of Energy is close to issuing new solicitations for renewable energy and transmission project loan guarantees and grants, possibly as soon as Thursday, according to people close to the matter. Announcements on the solicitations could come as soon as Thursday, when Vice President Joe Biden is expected to discuss progress under the recovery act at an ABB (ABB) factory in Missouri that produces transformers for a wind farm... "Very soon we're going to issue a new set of solicitations under the new funding authority, specifically around more mature renewable technologies and energy infrastructure, particularly transmission infrastructure projects," said Matthew Rogers, a senior advisor to Energy Secretary Steven Chu, in an interview. An industry official familiar with the DOE's funding authority said Biden was expected to announce grant funding for "smart grid" projects designed to transform the power transmission system into an artificially intelligent system that could more efficiently manage electricity use. Rogers declined to say exactly specific projects that are eligible for the new funding, but a number of companies are in the final stages of negotiating their loan guarantee deals, including BlueFire Ethanol Fuels (BFRE), BrightSource Energy and Beacon Power (BCON), according to several people close to the matter. California solar company Solyndra Inc., was the first to benefit under the DOE's renewable program, last month being awarded a $535 million loan guarantee to fund a new manufacturing plant. Although the application was made and given preliminary approval under the George W. Bush administration - and funds appropriated for the program by Congress - the firm was also eligible under the recovery legislation. Funds appropriated under the previous administration but not used for the projects that are now eligible for recovery support will likely be used for another solicitation, Rogers said. Rogers, a former senior partner with the consulting firm McKinsey & Co., said the DOE was currently able to process one loan guarantee project a month, but was aiming to work up to processing two a week. "We are getting the machine limbered up...[and] it may take a few months to get to that position, but that's the direction we're headed," he said. Loan guarantees for new nuclear power plants and coal-fired power stations designed to cut carbon dioxide emissions approved under the Bush administration haven't shared the same urgency as renewable energy and transmission projects under the Obama administration. Secretary Chu has previously said nuclear and coal loan guarantees wouldn't be in the first tranche of projects to be announced. -By Ian Talley, Dow Jones Newswires; 202-862 9285; ian.talley@dowjones.com; (Stephen Power at the Wall Street Journal contributed to this report.) Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: djnewsplus.com. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires April 15, 2009 18:30 ET (22:30 GMT) Copyright (c) 2009 Dow Jones & Company, Inc.- - 06 30 PM EDT 04-15-09 Brought to you by Scottrader, a product of Scottrade Inc messages.finance.yahoo.com