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IX Energy Lands Third New
Contract in Two Weeks |
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What do the following dates and places
have in common? June 22, Ann Arbor Michigan; June 25, Saginaw
Michigan; July 7, New Orleans. Those dates come pretty close together,
and all have a number of things in common.
Those dates relate to contract awards
for solar rooftop arrays being installed as part of the US Government's
initiatives to deploy new green technologies. Two of the locations are
VA hospitals- one is a High School.
And, there's one more thing. All
three contracts to design and manage the installations were awarded toOTC
Journal following IX Energy. That's three new contract
announcements all in a stretch of two weeks, which is pretty impressive
when you consider this is just starting.
Earlier today, IXEH announced
it has been awarded a contract to design and install a 28kW system at Warren
Easton High School in New Orleans as part of The New Orleans Solar School
Initiative.
In this case, the project is being
funded by a grant from Nike- that's right- they are Just
Doing It. In all, there will be solar installations of 4 high schools
in New Orleans- three more to be announced.
The projects serves the dual purpose
of both energy savings and demonstrating a practical, working model of
solar technology to the students. The installation will also provide jobs
in the New Orleans area.
As covered in past editions- once
again- IXEH's exclusive relationship with US Government owned Unicor
has yielded another contract to design and install a solar system.
I don't know how you see it, but
in my view three new contract signings over a period of two weeks is very
impressive, and can only lead one to believe there is more to come and
substantial growth out in front of IXEH. The Unicor solar
panel facility is just coming online, so these contracts are just the beginning
of a large series of US Government opportunities.
After all, $1 billion has
been allocated for improvements to the VA System alone. That business
will continue to flow for a couple of years, and is just getting started.
IXEH
has
already been awarded two contracts to design and install solar arrays for
VA Hospitals.
We've now established the company
is moving forward rapidly. Now, how about the stock? Going the opposite
way. In fact, as I write the coverage of today's event, the stock is making
a new low.
The stock is trading at about $.20,
which I believe is a bargain basement steal. I estimate their relationship
with Unicor probably has an intrinsic value of $50 million
when one considers the number of future contracts to be awarded by the
US Gov't. Three new contracts have been signed in the last two weeks alone.
The whole market value of the company at these levels is about $12 million.
I don't know where the bottom is,
or what it will take to turn the stock around. However, I do know this
company is risky, but it is certainly headed in the right direction.
We started with this one at $.57,
with an SSL of $.45. So far, a miserable performance on the stock
side, and a great performance on the company side.
With the stock cut in half from my
original SSL, now might be the time to consider pouncing on this oversold,
bargain basement level. Put in a tight stop, and see if you get a bounce
on today's news. I don't know why the stock is trading so poorly- clearly
there is more supply than demand today. If that dynamic changes, and the
stock bounces, you might be in position for a great trade.
If you are holding this stock at
higher levels and didn't get out, think longer term and recognize the company
is doing its part by landing these Government sponsored solar contracts.
Here is today's news in its entirety:
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IX Energy Partners
With Advanced Green Technologies to Build 28kW Solar Array
7/7/2009 10:16:25 AM
- Market Wire
First School to Receive Solar in
New Orleans Solar School Initiative
NEW YORK, NY, Jul 07,
2009 (MARKETWIRE via COMTEX News Network) --
IX Energy Holdings, Inc.
(OTCBB: IXEH), a company engaged in the development of solar power and
other renewable energy solutions for the federal government and commercial
markets, announced that it is partnering with Advanced Green Technologies
(AGT), a subsidiary of Advanced Roofing, to build a 28kW rooftop solar
array at Warren Easton High School in New Orleans as part of the New Orleans
Solar School Initiative. Advanced Roofing is the prime contractor on the
installation.
The New Orleans Solar
School Initiative, which aims to roll out solar to four New Orleans schools,
is a project being led by Winrock International, Entergy, and Nike. Entergy,
a local New Orleans utility, is taking the lead in the investment on the
project to deliver clean energy back into the community of New Orleans.
The project was initially made possible by a grant from Nike through proceeds
it generated through a transaction of carbon offsets registered with Winrock's
American Carbon Registry.
The 28kW grid-tied system,
covering 6,634 sq. feet, will produce 37,000 kWh of solar energy each year
and can be expanded to as much as 125kW. AGT will be responsible for the
design and integration of the system while IX Energy will provide the electrical
install, materials and balance of system. The project, scheduled to start
in the first week of July, is expected to be complete by August.
Steve Hoffmann, CEO of
IX Energy, said, "We commend groups like this on their leadership and continued
proactive stance in developing and supporting renewable energy projects
such as the New Orleans Solar School Initiative. It creates a valuable
learning environment for students in the community to see how solar energy
can be implemented, where the school becomes an example for teaching the
importance of conserving energy. In addition, we are pleased to be working
with AGT, whose products are well suited for this project."
AGT will also provide
an interactive solar monitoring system to measure the daily, weekly, monthly
and lifetime totals of energy generated in kWh. The visual display also
tracks the impact the solar system is having on the environment in tangible
terms including gallons of gas, dozens of light bulbs and pounds of coal,
all off-set by solar energy.
"Renewable energy has
become a global necessity," stated Michael Kornahrens, President of AGT.
"Providing the products and installation is only the beginning. Educating
children and adults alike on the importance of solar energy and how a photovoltaic
system works is extremely important. Our solar data monitoring system enables
us to look at the overall production of the solar system and show the environmental
offsets made directly from the use of solar energy."
About Advanced Green
Technologies
Advanced Green Technologies,
an innovative renewable energy solutions provider, procures building-integrated
renewable energy products. With 25 years of experience in the commercial
roofing and building industry, AGT provides the products, designs and support
for installations of the most advanced, cost effective, and efficient green
solutions for customers. For more information on Advanced Green Technologies
renewable energy solutions, contact 954 735 2641 or visit www.AGT.com.
About IX Energy Holdings,
Inc.
Founded in 2006, IX Energy,
Inc., the wholly owned subsidiary of IX Energy Holdings, Inc. is a renewable
energy services company engaged in the design, marketing, development and
financing of solar power systems and other renewable energy solutions to
federal and commercial customers. In June, 2008, the Company entered into
a non-exclusive agreement with Federal Prison Industries, Inc. ("UNICOR"),
under which UNICOR provides the labor for assembly and production of solar
panels for the Company, and the Company sells the solar panels to Federal
customers. The agreement has a term of five years. For more information
about IX Energy Holdings visit www.ixenergy.com.
Forward-Looking Statements
Statements in this press
release that are not statements of historical or current fact constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve
known and unknown risks, uncertainties and other unknown factors that could
cause the actual results of the Company to be materially different from
the historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which explicitly
describe such risks and uncertainties, readers are urged to consider statements
with the terms "believes," "belief," "expects," "intends," "anticipates,"
"will" or "plans" to be uncertain and forward-looking. The forward-looking
statements contained herein are also subject generally to other risks and
uncertainties that are described from time to time in the Company's reports
and registration statements filed with the Securities and Exchange Commission.
Company Contacts Corporate
Communications Aspire Clean Tech Communications, Inc. Todd M. Pitcher 760-798-4938
Rubenstein Investor Relations Tim Clemensen 212-843-9337
SOURCE: IX Energy Holdings |
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China Energy (OTC BB: CGYV) Delivers
$1.4 Million Order
Have we all forgotten about CGYV?
Another Green tech company- but based in China and getting rid of pollution
while saving energy. CGYV had a really nice rebound after the drubbing
we all took in the Fall- making a move from a low of $.90 to a subsequent
high of $2.25.
Now we're back to $1.40, and
the pullback from $2 has come on extremely low volume. What we're
seeing here is more of a buyers strike than a big sell off.
I believe the buyer's strike has
been precipitated by the absolutely abysmal Q1 numbers CGYV reported.
The company wishes the market recognized their top line number was driven
by major projects, and if the deliveries happen to miss the quarterly deadline,
the numbers will look artificially bad.
It's certainly worth remembering
the company has doubled in size each of the past three years, so why would
you doubt they can deliver substantial growth in 2009 as well? The market
seems to be from Missouri (The SHOW ME state) on this one for the time
being. If not for the world wide recession, the market would probably give
the company the benefit of the doubt.
However, the market is saying we're
not sure you're fortunes haven't changed for the worst, and is paying no
attention to CGYV's announced back log of about $30 million.
Therefore, I believe the Q2 numbers
are going to be very important. If CGYV delivers a solid number,
all will be forgiven, and it will be onward and upward for the stock. If
Q2 is similar to Q1, this story will be over for quite some time, and the
company will have to deliver several quarters demonstrating real growth
once again before the stock will get back on track.
Today's announcement of the completion
and delivery of a $1.5 million bio fuel project to Malaysia will be recognized
in Q2, thereby assuring investors Q2 will be no worse than Q1, and probably
a whole lot better. We have about 5 weeks to wait for the numbers.
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