EnWave Corp’s (TSXV:ENW – $1.19 CAD & OTC:NWVCF – $0.87 USD) efforts to expand in Europe are starting to pay off significantly. Earlier this week, it signed a Technology Evaluation and License Option Agreement (TELOA) with a major dairy processor and a major meat processor, both located in Europe.
Although few details were announced, we understand that the dairy company leased a 10 kW Radiant Energy Vacuum (REV) machine, which will be installed at its facilities in February 2017. Subsequently, the company only has six months to conduct the necessary R&D work. Apparently, the key focus will be on developing healthy dried dairy snacks.
During the six months’ test period the dairy processor has the exclusive option to license the use of REV technology for the production of dairy products within an agreed European territory. When this option is exercised, it may involve the purchase of larger commercial machinery.
It is worth noting that the [click to continue…]
Since we last spoke with Mr. Ben Locke, the Co-Chief Executive Officer of Tecogen Inc (TGEN – $3.98), several exciting events have taken place at the Company, making it high time for an update interview.
The interview first touches upon the main drivers that enabled Tecogen to reach its first quarterly positive net income in its public history. Mr. Locke also talks about the possibility for continued profitability in following quarters.
The co-CEO describes the exciting developments that have taken place during the past few months at TTcogen, the 50/50 joint venture with Czech CHP manufacturer TEDOM. He also shares where he believes there are substantial growth opportunities for the JV.
An important portion of the interview is devoted to [click to continue…]
ZoomAway Travel Inc. (TSXV:ZMA – $0.23 CAD & OTC: ZMWYF – $0.17 USD & Frankfurt:4ZO – €0.16) provides hotels, golf and ski resorts, and other activity providers with a seamless, scalable and fully Integrated Technology Platform that allows customers to book discounted packaging of lodging, ski, golf, attractions, events, entertainment and transportation.
ZoomAway’s suite of technology components seamlessly integrates into a client’s website, providing their customers with a real time one stop shop for all of their travel and recreation needs, all while maintaining the clients branding and brand position. Be it a room and a tee-time or lift tickets, spa treatments and a weekend getaway for one, ten, or one hundred people, ZoomAway puts it all together.
ZoomAway’s unique solution provides the most advanced combination of Technology and Service available. Moreover, the Company’s scalable call center supports the technology platform with market knowledgeable staff delivering friendly personal service.
Some of the Company’s clients include: Palms [click to continue…]
EuroSite Power (EUSP – $0.43) installs, owns, and operates Combined Heat & Power (CHP), and cooling systems at smaller industrial and commercial facilities. It provides these facilities with clean, reliable power, cooling, heat and hot water without any capital or start-up costs to the customer and at lower costs than charged by conventional energy suppliers.
In the third quarter, ended September 30, 2016, EuroSite Power recorded revenues of $459,114, an increase of 9%. In local currency however – the Company’s operation is located in the United Kingdom – revenues grew by an impressive 28.4%.
Revenues especially benefitted from a higher number of operating units and the improved utilization rate of the CHP machines. Moreover, gross margin excluding depreciation reached 32.8%, the highest third quarter gross margin in the Company’s history!
The Company is working hard to secure [click to continue…]
Tecogen Inc. (TGEN – $4.35) designs, manufactures and sells industrial and commercial CHP (Combined Heat & Power), or cogeneration, systems that produce combinations of electricity, hot water, and air conditioning. It’s a well-established Company, as it has already shipped over 2,300 units, some of which have been operating for almost 25 years.
During the third quarter, ended September 30, 2016, Tecogen generated net income of $207,868 compared to a loss of $948,842 in the third quarter of 2015. The first positive net income in the Company’s public history. The outstanding performance was achieved by a solid revenue increase, combined with strict cost control, which resulted in gross margin rising to 41.9%.
Becoming profitable is always a major turning point at a company. It’s no different at Tecogen. But let’s be clear, despite its significantly improved financial results, the Company has only started scratching the surface of the huge clean energy market.
We see tremendous potential for Tecogen as its management believes it will be profitable going forward, while its growth opportunities come to fruition. [click to continue…]
EuroSite Power (EUSP – $0.40), which owns and operates clean, On-Site Utility systems that produce electricity, hot water, heat and cooling at facilities in the UK, recorded revenues of $459,114 for the third quarter of 2016, versus $421,991 in the comparable quarter of 2015, an increase of 9%.
In local currency however – the Company’s operation is located in the United Kingdom – its revenues grew by an impressive 28.4% to GBP£349,615, up from GBP£272,287 in Q3 2015. The significant difference between the growth number in US dollar and British pound, is due to the sharp decline of the pound as a result of the Brexit vote in June of this year. So although the Company reports in US dollar, it’s important to look at the results in British pound as well to get a true idea of its performance.
Revenues especially benefitted from a higher number of operating units and the improved utilization rate of the CHP machines. Total operational systems at September 30, 2016 was 32, compared with just [click to continue…]
Tecogen (TGEN – $4.24), which designs, manufactures and installs industrial and commercial cogeneration systems, reported a positive net income for the first time in its history. During the third quarter, ended September 30, 2016, it generated net income of $207,868 compared to a loss of $948,842 in the third quarter of 2015.
This outstanding performance was achieved by a solid revenue increase, combined with strict cost control. All of this resulted in gross margin rising to 41.9% compared to 35.7% in third quarter 2015 and well above management’s targeted 35-40% gross margin range. In fact, this was the highest gross margin that the Company ever achieved.
Revenue for the third quarter of 2016 reached $6,616,455 compared with $4,676,042 for the same period in 2015, an excellent increase of 41.5%. Product revenue in the third quarter grew 53.2% compared to Q3 2015, while Services related revenue grew 33.8% over the prior year period, driven by installation activity. [click to continue…]