Data Shows Demand for Alternative Energy Continues to Grow
NEW YORK, February 9, 2018 /PRNewswire/ --
According to Allied Market Research, the Global Renewable Energy Market was valued at $ 1,405,646 million in 2016, and is projected to reach at $2,152,903 million by 2025, growing at a CAGR of 4.9% from 2017 to 2025. The report indicates that in recent years, the share of renewable energy in the global energy mix is on a continuous rise. Renewable energy is generated from natural processes that are constantly replenished, including sunlight, geothermal heat, water, wind, tides, and various forms of biomass. Nations around the world have started using renewable energy for power production, owing to rise in the environmental issues such as climatic changes and depleting ozone layer. Greenkraft, Inc. (OTC: GKIT), Gevo, Inc. (NASDAQ: GEVO), Ocean Power Technologies (NASDAQ: OPTT), Capstone Turbine Corporation (NASDAQ: CPST), Aemetis, Inc. (NASDAQ: AMTX)
According to a recent research data provided by Deloitte, robust customer demand is one of the key factors likely to bolster renewable development in the near term. Corporations, in particular, have been rapidly expanding renewable procurement in recent years. Deloitte explained that, "by early December 2017, 117 companies had committed to 100 percent renewable power as part of the RE100 campaign. And the movement is spreading from large companies to small and mid-sized companies, as many larger companies begin to require sustainability measures be met across their supply chains... By late 2017, 170 mayors had pledged their support for a community-wide transition to 100 percent renewable energy in cities, towns, and communities across the United States-and a handful of US cities have already reached that goal."
Greenkraft, Inc. (OTCQB: GKIT) earlier this week announced that, "Several fleet operators will be applying for the California Carl Moyer Program funding to replace their existing vehicles with Greenkraft vehicles. Fleet operators that operate delivery trucks, towing trucks, and several other vocational trucks are applying for funding to replace their 2009 and older trucks. The program is the Carl Moyer Program: On Road Heavy Duty Voucher Incentive program (VIP) that offers incentives from $10,000 to $60,000 per new truck depending on the class. The VIP is implemented by SCAQMD and will be opening in March 2018. Greenkraft offers trucks from class 4 to 7 and Greenkraft can provide trucks to these fleet operators. The program will help Greenkraft obtain more clients and ultimately more revenue for 2018. Greenkraft, Inc. continues to work diligently to provide long-term value for the Company and its shareholders alike by increasing revenues and executing their clearly defined expansion plan that will allow GKIT to become the #1 source for alternative fuel trucks in North America."
Gevo, Inc. (NASDAQ: GEVO) is a leading renewable technology, chemical products, and next generation biofuels company. Gevo has developed proprietary technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, as well as related products from renewable feedstocks. On December 11, 2017, the company announced that GE Aviation had commenced jet engine combustor component testing with a jet fuel comprised 100% of Gevo's renewable alcohol-to-jet fuel (ATJ). The testing is being performed as part of the Federal Aviation Authority's (FAA) Continuous Lower Energy, Emissions and Noise Program (CLEEN). CLEEN is the FAA's principal environmental effort to accelerate the development of new aircraft, engine technologies, and to advance sustainable alternative jet fuels, in conjunction with aviation industry leaders such as GE Aviation.
Ocean Power Technologies (NASDAQ: OPTT) is a pioneer in renewable wave-energy technology that converts ocean wave energy into electricity. OPT has developed and is seeking to commercialize its proprietary PowerBuoy technology, which is based on a modular design and has undergone periodic ocean testing since 1997. OPT's proprietary PowerBuoy technology is based on a modular and scalable design and has undergone and continues to undergo periodic full-scale ocean performance validation. OPT specializes in advanced, cost-effective, and environmentally-sound ocean-wave-based power generation and management technology. OPT's PowerBuoy system integrates patented technologies in hydrodynamics, electronics, power conversion and energy storage, and intelligent computer control systems to maximize the extraction and conversion of the natural energy in ocean waves. On December 12, 2017, the company announced financial results for the second quarter of fiscal 2018 ended October 31, 2017. Revenue for the second quarter of fiscal 2018 ended October 31, 2017 was $94,000, compared to revenue of $170,000 for the second quarter of fiscal 2017.
Capstone Turbine Corporation (NASDAQ: CPST) is the world's leading clean technology manufacturer of microturbine energy systems. On January 29, 2018, the company announced that the installation at Masonic Village in Elizabethtown, Pennsylvania has surpassed 700,000 operating hours. The installation recently exceeded 700,000 total operating hours, with one of the C65 microturbines surpassing 135,000 hours alone. The microturbines have produced over 130,000-megawatt hours (MWh) of electrical and thermal energy, which is capable of powering 14,500 homes per year. The system has also helped Masonic Village reduce their carbon footprint by over 3,000 tons, generating carbon savings equivalent to eliminating 27 million miles driven by an average passenger vehicle.
Aemetis, Inc. (NASDAQ: AMTX) is an advanced renewable fuels and biochemicals company focused on the production of advanced fuels and chemicals through the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products by conversion of first-generation ethanol and biodiesel plants into advanced Biorefineries. On November 2, 2017, the company announced that its Aemetis Advanced Products Keyes subsidiary signed a 20 year feedstock supply agreement to produce cellulosic ethanol at a former US Army munitions facility located in Riverbank, California, which is near the existing Aemetis biofuels plant in Keyes, California. The feedstock to be supplied comes from the more than 1.6 million tons of waste orchard wood and nutshells that are generated each year from approximately 1 million acres of almond, walnut, and pistachio orchards in the Central Valley. Aemetis' price of the feedstock is approximately $20 per ton delivered for the first ten years.
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