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Broadwind Energy is a premier wind pure play. They have become a vertically integrated wind turbine supplier over the course of the past year through acquisitions and organic growth. They do cater some other industries, but primarily they are focused on gears for wind turbines, the tower structure for wind turbines, transportation of the large tower structures, and lastly the company builds, operates and maintains the wind generation towers. It is my opinion that Broadwind is the most overlooked company in the alternative energy sector. Their status trading on the bulletin board automatically rules out many institutional and individual investors. Additionally, solar has taken most of the shine in the alternative energy sector, while wind has gone by the way side due to a lack of wind energy pure plays which are publicly traded in the U.S. The two defining news releases for Broadwind are: "Broadwind Energy’s Brad Foote Gear Works Announces Long-Term Supply Agreement to Support GE Transportation’s Growing Wind Business Naperville, Ill. (April 18, 2008) – Broadwind Energy, Inc. (OTC: BWEN) announced today that its wholly owned subsidiary, Brad Foote Gear Works Inc., has signed a three- year, evergreen supply agreement with GE Transportation to provide gear sets for use in wind turbine gearboxes, which GE Transportation builds in Erie, Pa. for the North American market. " broadwindenergy.com AND "Tower Tech Signs Framework Agreement With Towers And Metallic Structures, A Subsidiary Of Gamesa Technology Corporation, Inc. Naperville, Ill. (April 15, 2008) – Broadwind Energy, Inc. (BWEN-OTC) announced today that its wholly-owned subsidiary, Tower Tech Systems, Inc., has signed a framework agreement to supply wind turbine towers to a subsidiary of Gamesa Technology Corporation, Inc., for its North American projects. The G87 78-meter, four- section wind towers will be fabricated in Manitowoc, Wis. with delivery beginning April 2008. " broadwindenergy.com From what I can find out, Gamesa is number two in the world in the wind turbine market and GE is number four. This makes Broadwind a partner with the number 2 and number 4 behemoths in the wind industry. For a small cap company, this is a big thing. Neither deal has yet to show up in a quarterly earnings release, but they will in the future. Speaking of earnings releases, Broadwind's SEC filings are a mess. They acquired three companies in a short period of time, delayed their filing to deal with that, dropped $100 million in financing, and then bought a fourth company. It might be a year or so until the dust settles on all the integration mess. One must look past this mess and see the underlying position of the company. They have set themselves up to be as close to a one stop shop for wind turbines as one can get without being a big time behemoth. Now they have to generate the sales and integrate these companies and then they can become the behemoth. Well that is about all I will put in the subject's description. Let's chat about this company. | ||||||||||||||
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