In the first quarter, ended March 31, 2016, EuroSite Power (EUSP – $1.20), which owns and operates On-Site cogeneration systems that produce electricity, hot water, heat and cooling, reached revenues of $687,032, an increase of 25.4% compared to revenues of $548,054 for the same period in 2015.
The strong improvement was driven by both a higher number of systems in operation and by larger units that had been taken into production. This was also reflected in the higher energy production of all systems combined. In the first quarter of 2016 a total of 9,940,307 kWh of energy was generated, a 40% improvement over prior year results.
Gross margin, excluding depreciation, improved to 37.2% for the first quarter of 2016, compared with 24.3% for the first quarter of 2015; an outstanding performance as this exceeded the target of 35% set by management. Overall gross margin improved by 13.0 percentage points to 20.8% for first quarter of 2016, compared to 7.8% for first quarter of 2015. Gross margin improvements reflect lower [click to continue…]
After Tecogen (TGEN – $4.58) formed the joint venture Ultratek to test, verify and develop the Company’s near-zero emissions technology for vehicular applications early this year, it now has formed a 50/50 joint venture corporation with the Czech company Tedom, one of Europe’s largest combined heat and power (CHP) manufacturers.
The new company, called TTcogen LLC offers a complete package of 27 different CHP modules, making it the premier packaged CHP provider with the widest range available in the United States. TTcogen offers a full product portfolio ranging in size from 35 kW up to 4 MW.
This is an exceptionally important event for Tecogen, as the Company often gets inquiries from potential clients who end up not buying a CHP unit from Tecogen because its existing equipment is [click to continue…]
For today’s interview, we’re excited to sit down with Mr. Walter C. Johnsen, the Chairman and CEO of Acme United Corp (ACU – $17.29). 2015 was the seventh consecutive year of record performance for Acme United, and that trend has continued in the first quarter of 2016. So we’re very curious to find out how that growth was achieved and if record results are likely to be reached in following quarters.
Mr. Johnsen explains why he’s confident that 2016 will be a good year for Acme United. He first describes how Diamond Machining Technology (DMT), which was acquired in February of this year, could become a very profitable part of the Company.
In just two months after its acquisition, DMT has secured additional placement at a couple of major retailers. As a result, the production capacity will shortly be increased, and [click to continue…]
2015 was the seventh consecutive year of record performance for Acme United Corp (ACU – $17.29), and that trend has continued in the first quarter of 2016. During the three months period, ended March 31, 2016, Acme posted an 11% increase in revenues and even a 30% rise in net income. Both sales and earnings set a new first quarter record. And more growth is expected.
The new Westcott ceramic box cutters, for example, are hitting the shelves of large retail chains in the US, Canada and Europe. They feature rugged ceramic blades that are much safer than traditional metal cutters. They will start to impact sales as of the current quarter.
The Westcott scissors business continues to become stronger. In fact, Mr. Johnsen, Acme United’s Chairman and CEO, mentioned that a large retailer tried a different scissors supplier a few months ago, and now has returned [click to continue…]
While several companies are hesitating to enter into a commercial license and machine purchase order agreement with EnWave Corp (TSXV:ENW – $0.85 CAD & OTC:NWVCF – $0.61 USD), others go full speed ahead by ordering a second Radiant Energy Vacuum (REV) dryer.
Last week, Natural Nutrition purchased its second nutraREV machine, and now Ereğli Agrosan, a Turkish company that produces high-value, natural products and derivative products for the food, cosmetic and health sectors, ordered an additional 10kW REV unit. The machine is scheduled for delivery in the fall of 2016.
Ereğli Agrosan purchased its initial 10kW dryer only two months ago. That unit will be started up later this month at the company’s facility in Istanbul, Turkey. The order for a second machine indicates that Ereğli has already attracted several [click to continue…]
EuroSite Power (EUSP – $0.62), which sells the energy produced from onsite energy systems as an alternative to the outright sale of energy equipment, has raised $7.25 million in a private placement at $0.575 per share.
Several members of the Company’s senior management and its board of directors participated in the offering. It’s always encouraging to see management members participate in a private placement. There’s no better way of showing confidence in the future.
Although this financing causes dilution to existing shareholders, the cash inflow is very welcome for a number of reasons. First, late last year EuroSite had less than $600,000 in cash on its balance sheet. Now, four and a half months later, that number has undoubtedly [click to continue…]
Initial tests by Ultra Emissions Technologies (Ultratek), which is 50% owned by Tecogen Inc (TGEN – $4.43), conclusively prove that the Ultera technology is highly effective in reducing harmful pollutants from a gasoline powered light duty vehicle.
The test results show that the non-invasive Ultera system reduces levels of carbon monoxide emitted from a gasoline powered test vehicle by as much as 90 percent during simulated driving cycles prescribed by federal regulations for vehicle certification. In addition, Ultera decreases levels of non-methane hydrocarbons (NMOG) by as much as 80 percent.
Needless to say these are outstanding initial test results. As far as we know no other technology in the world has ever accomplished similar results with gasoline powered engines. [click to continue…]