Archive | June, 2011

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Do Not Go In For Fad Diets, Go For HCG Instead

Posted on 30 June 2011 by admin

For a doctor or medical expert supplying the most required support on HCG diet, understand that you can find training, inclusion and networking across the different industry articles many experts have already designed in their hunt for HCG knowledge. These experts share limitlessly using a signifigant amounts of other doctors every one of the types of practices per the effective use of the hormone in matters weight-loss. This can also include the large number of HCG users hoping to operate the hormone inside their weight reduction needs.

If there is something honorable you could possibly ever do for your own personal life as well as for those you love, it truly is choosing the form of balance which works for you, through seeking knowledge on HCG and any devices that could are already recently edified by way of a study or survey. This puts you within the helm of info, inside of a better pedestal than even people who could even workout on the hormone. Doctors studying HCG are mainly designed for within the habit of publishing their newest research, something you can utilize today to transform the way you look at matters health. You will understand if you find any negative effects newly discovered or if you’ll find many benefits that will make HCG. The simple truth is that HCG has been use ever since the 1920s plus early thirties, the second rrt had been discovered nonetheless its usage inside type of obesity or fat reduction was right after a British doctor published a report detailing the potential for the hormone in handling fat and coping with weight.

Beyond a large number of health and fitness benefits in matters weight-loss, doctors in matters HCG research have recommended that any approach with the hormone for the added different types of aesthetic benefits be known. Normally made available, HCG has become determined as good at the protection of wrinkles, structural fat while others, all capable of being reduced in one of the most dramatic fashions. Laser hair removal, people should know about today hardly depletes the main or subcutaneous fat. Which means that the face will be able to retain every one of the freshness it’s got and harness your natural appearance. The truth is, the fat across the chins, fat found across your thighs and even a protruding stomach is a the height of what exactly is first to exit. Could possibly be the best news you’ve got heard or you’ll start witnessing after you have stuck to HCG in your fat reduction routines. The eventual thing we all remember is always that looking to manage obese and overweight patients does call for a lots of tools and coming up with different sets of techniques.

Related posts:
Accomplishing Dreams of Fitness With HCG Diet

For the people physicians used of HCG in their facets of fat loss inside the medical realm, they’ve got among the best tool kits assuring vast competitive advantaged while in the an entire world of healthcare this will let you proven offer that sports ths true weight loss aims from a patient. It is the most effective advantages any doctor helping in matters of fat loss has the capacity to utilize and transform their life. The level of thing like a patient seeking motivation into using HCG diet as a fat loss approach I would be upbeat about. Each individual understands the essence of weight plus the effects it produces their life. For individuals in senior high school and college, weight and lumps of fat spread round the entire breath from the body basically means not so great. It bulges and results in a protruding stomach, huge and fat thighs as well as a neck that rivals that of a bodybuilder.

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The perfect idea in any this really is to hunt all the details you may and even choose the approach you wish to give this endocrine within you. For example, you will discover all those among us who definitely are aware of supplements along with other orally implemented HCG goods, and some just seek out hypodermic injection. Whichever technique you choose it should be what you will be prepared with regard to. In all probability, a shot every day may well give you painful, damage with some sort of reddening ended, something that produce the behemoths shiver after they think about filling device. You not need to possibly be over weight any further considering that a fix is extremely out there, one who have been tested out, trustworthy, plus proven. One of those particular very few treatments doctors already are utilised and highly recommend relatively alternative health supplements nevertheless to strike your research regarding exams.

Don’t be similar to some people out there which practically think about exercises, eating plan and medicines if fat reduction makes intellect. You might knowledge a lot of weight loss within a regular vogue while you use HCG, the place that the hormonal has the ability to behave plus increase number varieties of stats accomplished. You can even make certain your own desire for foods will be under control, just about the most effective attributes of the particular hormonal. Besides procedures, you can intake HCG by means of tiny droplets by mouth, exactly where most of these droplets associated with HCG transferred underneath the tongue acquire consumed rapidly.

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Why These Companies Are IPOing (Revisited)

Posted on 30 June 2011 by Sustainability Digest

Almost a year ago, I wrote about several cleantech IPOs that were taking place at that time, in somewhat skeptical terms. And I wasn't alone. With the renewed, recent spate of cleantech IPOs and filings (Kior, Luca, et al), I looked back on that same column and thought it was worth bringing up and discussing again.

How are those IPOs from back then doing now? A123 is trading way down, Codexis is down significantly, Tesla is a little bit up, Amyris is quite a bit up, PetroAlgae is a pink sheet, and Gevo lowered their offering price but has been fairly flat since the IPO. So it's a mixed bag, not a resounding set of successes from which to draw inspiration. And yet, here it is summer again and we're seeing another wave of cleantech IPOs.

So is anything different? Actually, I think so — and in a somewhat positive way. Last summer I wrote that those IPOs were basically happening out of necessity: the funders of those companies had backed them with certain exit timing expectations, the 2009 IPO window had been slammed shut, the companies were running out of money, and so those companies were pushed through whatever tiny IPO window opened back up, ready or not.

What's not different now is that many of this summer's cleantech IPOs are similarly more akin to funding events than to liquidity events.  Companies like Kior and Luca are looking to Wall Street to provide growth and early-on project financing.  And why not?  VCs and PE firms aren't lining up to provide "first project" capital anymore, so biofuels and other capital-intensive companies have been looking to corporate balance sheets for that capital, but that often requires giving up a lot of value to the corporate partners. On the other hand, Wall Street seems willing to more cheaply provide the "first project" capital for many of these companies — at least for now.  

And that's one thing that's different: that this is an accepted funding path. One lesson VCs appear to have learned from cleantech IPOs over the past couple of years is that companies that have a) commercially-viable byproducts, b) a long-term story to tell around attractive primary products, and c) brand-name venture backers can indeed ask Wall Street to pay for their first commercial-scale production facility.  So that's what several of these companies appear to be trying to do. It also certainly doesn't hurt that oil prices are high right now, and many of these companies are directly replacing oil. 

And the other thing that's different is that there appears (at least subjectively, to me) to be a difference in terms of the quality of the companies (overall) that are IPOing this year. These are companies with better stories to tell Wall Street in terms of longer-term prospects and value proposition. And in several cases, they have recently raised a new financing round, rather than being low on cash. I'm guessing that's because some of the sense of 'IPO or bust' isn't in place for this year's crop, and that these companies are filing for IPOs more opportunistically than at the point of a bayonet.  While several of these filings similarly appear to be too early to IPO, perhaps if you view them instead as a public funding event, you can still feel good about the long-term growth prospects for the company.

I expect I'll get angry comments from both sides for making these observations — from skeptics for daring to suggest that some of these companies have good prospects, and from proponents who'll feel I'm still not giving these companies their due as the next Google. They're probably both right, somehow.

But either way, one thing that's the same as last year is that the IPO window is officially, if slightly, open.  And so it's "Everyone out of the pool!" time. I worry that in the mad rush to IPO, quality control is going to slip, and may have already. And that would once again muddy up the pool for everyone left still swimming: privately held firms awaiting their exit opportunity.

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‘Stealth’ Wind Turbines Won’t Interfere with Radars

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‘Stealth’ Wind Turbines Won’t Interfere with Radars

Posted on 30 June 2011 by Sustainability Digest

radar-console-wind-turbines
Photo: Flickr, CC

Tests by Vestas Show 99% Reduction in Radar Interference!
Who would have thought that military stealth airplane technology could one day help to provide clean energy for the world? Swords into ploughshares, no kidding! The Danish wind turbine manufacturer Vestas has tested a prototype of a radar-friendly turbine in the UK and found that the “stealth rotor achieved a targeted reduction in radar reflection of about 99 percent compared with standard turbines.” That’s not a small reduction… Read o…Read the full story on TreeHugger


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Cycling Duo Pedaling Over Two Continents on Bamboo Bikes For Fresh Water

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Cycling Duo Pedaling Over Two Continents on Bamboo Bikes For Fresh Water

Posted on 30 June 2011 by Sustainability Digest

cycle for water photo
All images by Cycle for Water

Thanks to our new TreeHugger Photo Pool on Flickr, we learned about a really amazing project called Cycle for Water. Starting almost exactly a year ago, on July 4, 2010, Joost Notenboom and Michiel Roodenburg started an incredible 18-month journey on bamboo bikes, cycling from northern Alaska to the southern tip of Argentina — essentially covering the entire length of North and South America. And they’re doing it in the name of clean water. …Read the full story on TreeHugger


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Study Comparing Local To Meat-Free Diet Is Dated and Debunked

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Study Comparing Local To Meat-Free Diet Is Dated and Debunked

Posted on 30 June 2011 by Sustainability Digest

foodmiles-original-study.jpg
Note date on original study, linked to in articles

All the blogs are writing about a Harvard Business Review story by Andrew Winston, titled Local Food or Less Meat? Data Tells The Real Story ; even our Rachel picked it up with New Study: Going Meat-Free One Day a Week Saves More GHG Emissions Than A 100% Local Diet.

There are are, however, a couple of problems; a) the study on which the article is old an…Read the full story on TreeHugger

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The PV Module Supply Glut

Posted on 29 June 2011 by Sustainability Digest

Tom Konrad CFA

With project financing and plenty of
photovoltaic (PV) modules, a shortage of projects with credible
off-takers seems likely to lead to further falls in module
prices.  How can investors best profit from this trend?

PV module prices
have dropped 70% since 2008, when the financial crisis sent demand
tumbling, with Chinese multicrystalline silicon module prices currently
as low as $1.49 per watt, according to Bloomberg
New Energy Finance’s (BNEF) Solar Spot Survey.  In part, this was
an example of “the Bubble giveth,
and the Bubble taketh away.” For the three to four years ending
in 2008, the long-term downtrend of PV prices, which had been driven by
the learning curve and imporving technology, stalled due to strong
demand. Then,
when the financial crisis suddenly removed the availability of cheap
financing, demand vanished, and prices plummeted.

style="font-weight: bold;">Plenty of Money

Today,
it’s
clear that financing is back. I recently attended the 8th
Annual Renewable Energy
Finance Forum-Wall Street
(REFF), co-hosted by the href="http://www.acore.org/">American Council on Renewable Energy
(ACORE) and Euromoney Energy Events.  At REFF, the room was packed
with
financiers ready to fund PV projects with credible developers and
quality off-takers, such as utility Power Purchase Agreements (PPAs),
solar and wind developers, and attorneys ready to draw up deals between
them.  Notabl alt="REFF Wal St logo.png"
src="http://www.altenergystocks.com/archives/REFF%20Wal%20St%20logo.png"
style="border: 0px solid ; width: 210px; height: 113px;" align="right">
y
absent
among
attendees
were any utilities or other
large power
buyers. 

I find the absence of power buyers telling.  Yes, there are
utilities, businesses, and institutions signing PPAs with renewable
energy developers, but it’s a sign of the end-customer’s market power
that they don’t need to come to networking events like REFF Wall St to
get the word out.  href="http://www.reffwallstreet.com/index.php?option=com_content&view=article&id=272&Itemid=77">Brian
Matthay, VP Environmental Finance at Wells Fargo sees the
distributed solar PV market as limited not by the supply of panels or
finance, but by the lack of good deals.  For Wells Fargo, a good
deal requires a quality developer, with experience and a strong balance
sheet.

Wind is following a similar pattern.  According to href="http://www.reffwallstreet.com/index.php?option=com_content&view=article&id=260&Itemid=77">Pat
Eilers, Managing Director at Madison Dearborn Partners who spoke at
the conference, the locations of new wind projects in the US is driven
more by the availability of PPAs than the wind resource.  I even
met a wind developer who is following a new model because of the lack
of PPAs with favorable pricing, his firm is building wind farms to sell
electricity into the spot market: They don’t intend to sign a PPA until
pricing becomes more favorable.

style="font-weight: bold;">Plenty of PV Modules

Meanwhile, PV
module supply continues to grow rapidly.  According to BNEF’s
projections, even an optimistic projection
for PV demand is likely to fall short of supply in 2012 and 2013.

We last had a PV
module oversupply in 2009, after the financial crisis destroyed many
customers’ ability or willingness to borrow leading to a rapid fall in
demand. 
Prices promptly fell, which in turn lead to a rapid resurgence in
demand.  After falling short in 2009, demand slightly exceeded
supply in 2010.  In other words, over a period
of
about a year, PV demand has shown itself to be remarkably elastic and
quick to respond to falls in the price of PV.

style="font-weight: bold;">Potential Sources of Demand

I expect the
current and projected glut of solar modules will create lower prices
and a new demand boom.  BNEF’s projections for demand in 2012 and
2013 will likely prove to be too conservative, although many PV
manufacturers will be unable to make a profit at the lower price levels.

Market power will
shift from
solar manufacturers to solar customers.  The biggest
winners are likely to be end users, who will be able to get solar
installations for much lower prices than ever before, and those solar
installers able to reach out to the new classes of customers.

Where will the
demand come from? According to href="http://reffwallstreet.com/index.php?option=com_content&view=article&id=275&Itemid=77">J
Andrew
Murphy, Executive Vice
President of NRG Energy, it will come from the maturation of the
industry. He sees a growing customer awareness of electricity and
where it comes from, many more companies such as Wal-Mart, href="http://www.altenergystocks.com/comm/content/google/">Google
(GOOG),
and Whole Foods are not only investing in distributed generation
themselves, but presenting it to their shareholders and customers as
a value proposition. Those stakeholders, seeing that value
proposition then see the value in adopting distributed generation,
which usually means PV.

If there is a profitable opportunity in solar stocks, it will be in the
stocks of developers able to adapt to the needs of the new classes of
solar customers drawn in by rapidly falling prices.  I believe
that solar manufacturers see this, and that’s why many are integrating
vertically down the value chain by buying up solar developers, such as href="http://www.altenergystocks.com/comm/content/sharp-corp-adr/">Sharp’s
(SHCAY.PK) href="http://www.greentechmedia.com/articles/read/Recurrent-Energy-Acquired-by-Sharp-Solar/">acquisition
of
Recurrent
Energy, and href="http://www.altenergystocks.com/comm/content/first-solar/">First
Solar’s (FSLR) href="http://www.lasvegassun.com/news/2010/apr/28/solar-manufacturer-first-solar-buying-solar-develo/">purchase
of
NextLight last year.

A more recent development was the merger of two of the strongest
regional solar developers, when href="http://www.altenergystocks.com/comm/content/real-goods-solar/">Real
Goods
Solar
(RSOL) agreed to href="http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20110624/NEBULLETIN/106240351/-1/NEWSMAP">merge
with
leading
Northeastern
solar
integrator
Alteris in an all-stock
deal. As prices fall, typical customers are more likely to want a brand
they can trust and a one-stop shop for design, build, and
financing.  I expect href="http://www.altenergystocks.com/archives/2011/06/is_the_solar_installation_industry_ripe_for_consolidation_1.html">
solar integrators such as Real Goods that have a history of
successful acquisitions should do well, along with strong local
brands.  But that does not mean that Real Goods’ current high
trailing P/E of 38 is justified.  Solar integration is a low
margin business, and growth from all-share acquisitions such as that of
Alteris comes at the price of dilution of existing stock holders. 
As I concluded in my recent href="http://www.altenergystocks.com/archives/2011/06/is_the_solar_installation_industry_ripe_for_consolidation_1.html">
survey of solar industry integration, the industry is more likely
to produce steady cash earners than high-margin, quickly growing high
flyers.

Conclusion

While I expect the downstream portions of the solar industry to be
solid earners over the next few years due to the rapid growth of the
industry, that growth does not justify paying high multiples for a low
margin business. If I had to pick a solar stock today, I’d be more
likely to opt for the higher margin vertically integrated manufacturers
which are currently trading at depressed prices due to the current
glut.  My colleague Garvin Jabush considers href="http://www.altenergystocks.com/archives/2011/06/wall_streets_irrational_dangerous_hatred_of_solar_stocks_1.html">Wall
Street’s
current
hatred
of
solar
stocks to be irrational. It’s not
that he thinks module prices will not fall, but that such a fall in
prices is more than adequately reflected in stock valuations.  I’m
inclined to agree.

While Real Goods has only a 2.6% operating margin, and a 4.0% return on
equity (ROE), it trades at a forward P/E of 11 based on 42% expected
annual
growth in revenue.  Among manufacturers, cost leader First Solar
trades at an 11 P/E, but has a 28% operating margin and 19% return on
equity, numbers which seem much better able to fund the 27% expected
annual revenue growth internally.  href="http://www.altenergystocks.com/archives/2011/06/wall_streets_irrational_dangerous_hatred_of_solar_stocks_1.html">Jabush’s
pick, href="http://www.altenergystocks.com/comm/content/ldk-solar/">LDK
Solar (LDK), is also a vertically integrated
manufacturer/developer, and has a forward P/E of a minuscule 2.9, based
on
no expected profit growth and 12% annual revenue growth, which can
easily be funded by the company’s 20% operating margin and 38% return
on equity.

cellspacing="2">
Stock Forward P/E Operating
Margin
ROE 1 yr expected
growth
href="http://www.altenergystocks.com/comm/content/real-goods-solar/">RSOL 11 2.6% 4.0% 42%
href="http://www.altenergystocks.com/comm/content/first-solar/">FSLR 11 28% 19% 27%
href="http://www.altenergystocks.com/comm/content/ldk-solar/">LDK 2.9 20% 28% 12%

It’s always useful to understand future trends in the market, but
profits come from understanding the market’s reaction to these trends,
as well as the trends themselves.  Right now, investors seem
spooked by solar manufacturers, even though many of these manufacturers
have worked to integrate vertically along the supply chain making them
less sensitive to shifts in market power along the supply chain. 

Too often, investors in Renewable Energy get carried away by a positive
growth story, rushing to buy at any price.  This time, the
opposite seems true, and it’s the selling that seems to have gone too
far.  I’ve never been a solar cheerleader, and have always been
cautious about href="http://www.altenergystocks.com/archives/2009/10/why_do_green_energy_experts_buy_solar_stocks.html">confusing
the
growth
of
the
industry
with opportunity for the existing companies. 
Yet
right now, many solar stocks seem priced for long term zero, or
even negative growth.  That, to me, seems to be taking the case
too far.

DISCLOSURE: No positions.

DISCLAIMER: Past performance
is
not a guarantee
or a reliable indicator of future results.  This article contains
the current opinions of the author and such opinions are subject to
change without notice.  This article has been distributed for
informational purposes only. Forecasts, estimates, and certain
information contained herein should not be considered as investment
advice or a recommendation of any particular security, strategy or
investment product.  Information contained herein has been

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6 Child Environmentalists That Have Already Changed the World

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6 Child Environmentalists That Have Already Changed the World

Posted on 29 June 2011 by Sustainability Digest

caitlyn larsen photo
Photo: Facebook

Sometimes it takes the simple clarity of a child to change the world as we know it.

Among all the social change, political maneuvering, and serious issues facing the environment today, there are plenty of savvy kids taking matters into their own hands: Coming up with plans to save countless gallons of water in their cities, tackling Mcdonalds, fighting to stop mountaintop removal mining, raising money for Gulf Coast relief efforts, and more. …Read the full story on TreeHugger

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Profit for Good: Carbon Credits Bring Clean Water to Rural Kenya

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Profit for Good: Carbon Credits Bring Clean Water to Rural Kenya

Posted on 28 June 2011 by Sustainability Digest

LifeStraw Family demo photo
Photo: Rachel Cernansky

I spent part of last month walking from home to home in Kagamega, Kenya, a mostly-rural region known for one of the last remaining tracts of the Congolese forest belt. It is not dissimilar to so much of the developing world, however, in its lack of access to clean water, which is available to about 15 percent of homes in rural areas, according to Francis Odhiambo, Provincial Public Health Officer for the region.

I was in Kakamega with the Carbon for Water campaign, run by Vestergaard Frandsen, the company behind the LifeStraw water filter and o…Read the full story on TreeHugger


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First Digital-Only Textbook for Kids Makes Its Way to Classrooms

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First Digital-Only Textbook for Kids Makes Its Way to Classrooms

Posted on 28 June 2011 by Sustainability Digest

kindle on notepad photo
Photo by kodomut via Flickr CC

The switch from paper books to digital books for classrooms has been on the way for a couple years now. It is university classrooms that have been getting most of the attention, however, K-12 classrooms are now getting more play from publishers. McGraw-Hill launched its first digital-only texbook on Monday. …Read the full story on TreeHugger

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Johnson Controls Forecasts Enormous Stop-Start Growth

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Johnson Controls Forecasts Enormous Stop-Start Growth

Posted on 28 June 2011 by Sustainability Digest

John Petersen

On June 27th Johnson Controls ( href="http://www.altenergystocks.com/comm/content/johnson-controls/">JCI)
hosted their href="http://www.johnsoncontrols.com/publish/us/en/investors.html">2011

Power Solutions Analyst Day and unveiled their expectations
for the future of stop-start idle elimination systems. After noting
that all automakers are developing a range of powertrains, JCI used
this graph to emphasize their view that the overwhelming bulk of
alternative powertrain vehicles over the next five years will have
simple, cost effective and fuel efficient stop-start systems.

6.27.11 5-year.png

You don’t see much about stop-start systems in the mainstream media
because politicians and reporters are too enchanted with plug-in
vehicles and other exotica to deal with mundane issues like purchase
prices and payback periods, but JCI has made it crystal clear that
its meat and potatos business over the next five years will be
cheap, not cool.

JCI’s estimates for market growth over the next ten years were
equally impressive, particularly when you realize that the advanced
energy storage systems required for stop-start generate twice the
per unit revenue and three times the per unit margins of flooded
lead-acid batteries. It’s a manufacturer’s dream come true, stable
unit volumes with rapidly increasing revenues and margins.

6.27.11 10-year.pngIn their presentation JCI explained that the three key
attributes of energy storage systems for stop-start are:

  • Cycling – reliable
    system charge/recharge cycles over time;
  • Useable energy – range
    of stored energy that can be used to optimize the system; and
  • Charge acceptance
    rate of recharge to maximize opportunity capture.

It ties perfectly to a href="https://files.me.com/john.petersen/r941cj">joint
presentation from BMW and Ford at last fall’s European Lead
Battery Conference where the two automakers explained why the
stop-start duty cycle is so hard on conventional batteries. In a
normal vehicle, you start the engine at the beginning of the trip
and turn it off at the end. In a car equipped with stop-start, the
engine turns itself off automatically every time the car is stopped
and restarts automatically when the driver takes his foot off the
brake. While the difference between one start per trip and one start
per mile is enormous, a more critical problem arises from the fact
that stop-start systems require the battery to carry all accessory
loads during frequent engine off intervals.

In the segment of the BMW-Ford presentation that quantified a
typical stop-start duty cycle, the accessory load was 50 amps for 60
seconds, or about 3,000 amp seconds while the starter load was 300
amps for one second. In other words, the accessories accounted for a
whopping 91% of total load. Their graph of AGM battery performance
over time shows that charge acceptance (the downward curving blue
line) plummets as the battery ages while the time required to
recover from an engine off event (the upward curving red line) soars
from 30 seconds to three minutes or more.

6.27.11 AGM Performance.png
Since all systems are designed to disable the stop-start
functionality until the battery has recovered an acceptable state of
charge, system efficiency falls off rapidly as the battery ages. The
automakers want and need something better than AGM batteries, the
principal solution that old line auto battery manufacturers like JCI
want to provide.

The first advanced technology introduced for stop-start systems was
developed by href="http://www.altenergystocks.com/archives/2010/10/maxwell_announces_an_important_stopstart_design_win.html">Continental
AG in cooperation with Maxwell Technologies ( href="http://www.altenergystocks.com/comm/content/maxwell-technologies/">MXWL)
for use in diesel stop-start systems from Peugeot. In this dual
device configuration an AGM battery carries the accessory load and a
supercapacitor module carries most of the starter load. It insures a
reliable engine restart, but can’t do much about the bigger problem
of accessory loads. Contiental and Maxwell expect that their system
will be installed in up to a million Peugeot vehicles in the next
three years. If the system works well for Peugeot and stop-start
vehicle sales ramp as rapidly as JCI expects them to, implementation
rates will probably be higher.

A second advanced technology solution for stop-start systems is a
third generation lead-acid-carbon hybrid that’s being developed by
Axion Power International ( href="http://www.altenergystocks.com/comm/content/axion-power/">AXPW.OB),

which hopes to begin a commercial roll-out of its PbC battery later
this year. In a joint
presentation by BMW and Axion
at last fall’s ELBC, the
performance differences were obvious. The graph that tracked PbC’s
performance over time using the BMW-Ford test protocol showed that
charge acceptance (the flat blue line) stayed stable at 100 amps, or
twice the charge acceptance of a new AGM battery, while recovery
times (the flat black line) remained stable at 30 seconds.

6.27.11 PbC Performance.png

The BMW-Ford graph shows that AGM batteries fade very rapidly over
the first 5,000 miles of use in a stop-start equipped vehicle. The
BMW-Axion graph shows that the PbC offers optimal performance
through 40,000 miles. In a recent presentation at the href="http://www.advancedautobat.com/conferences/automotive-battery-conference-Europe-2011/index.html">2011

Advanced Automotive Battery Conference in Mainz, Germany,
Axion unveiled an updated graph of follow-on testing through 80,000
cycles, or approximately eight years of use, with only modest
degradation.

6.27.11 PbC AABC.png

I’ve been bullish about the future of stop-start idle elimination
technology for a couple years. If the JCI forecasts are even close
to accurate, I’ve been seriously understating the potential. Since
JCI is the largest lead-acid battery manufacturer in the world and
has a 36% share of the global automotive OEM and battery replacement
markets, it will undoubtedly be the biggest beneficiary of the rapid
worldwide implementation of stop-start idle elimination systems. The
second biggest beneficiary will probably be Exide Technologies ( href="http://www.altenergystocks.com/comm/content/exide/">XIDE),

which is emerging from several years of tough restructuring and
trades at a significant discount to JCI on a forward looking
earnings basis. Emerging technology developers like Maxwell and
Axion also have significant opportunities to grab a sizeable share
of what’s shaping up as $6 to $12 billion market niche. Their
respective market capitalizations are summarized below:

cellpadding="2" cellspacing="2">
Johnson Controls href="http://www.altenergystocks.com/comm/content/johnson-controls/">JCI $26.8
billion
Exide Technologies href="http://www.altenergystocks.com/comm/content/exide/">XIDE $569
million
Maxwell Technologies href="http://www.altenergystocks.com/comm/content/maxwell-technologies/">MXWL $442
million
Axion Power href="http://www.altenergystocks.com/comm/content/axion-power/">AXPW.OB $54
million

As former Axion director, I’m all too aware that it’s a very little
fish in a very big pond. I also understand why the PbC’s extreme
cycling performance and charge acceptance can be crucial to the
future development of stop-start, a world-class fuel efficiency
technology that’s already being produced at scale and will become
dominant in this decade. It’s easy to dismiss my ramblings
because I have a large stake in Axion. It’s harder to dismiss BMW, a
first tier automaker that joined Axion as a co-presenter at last
year’s ELBC. It will be darned near impossible to dismiss a big
three US automaker that’s apparently signed on as an Axion
subcontractor in a pending DOE grant application.

Disclosure: Author is a
former director of Axion Power International ( href="http://www.altenergystocks.com/comm/content/axion-power/">AXPW.OB)
and holds a substantial long position in its common stock.

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