recent reports from Lemming investor

7 Jan - Renesola: Persistent Growth
1 Jan - Green Energy Companies with Potential

Lemming Investor - Brief Updates

9 July 2007

Ceramic Fuel Cells gained 2.75p to 46p on news of a collaborations with E.ON to develop and deploy a prototype fuel cell combined heat and power unit in the UK. No financial details were disclosed.

During the collaboration, CFCL will supply a NetGen+ unit and a specially designed thermal store to produce an 'Alpha' prototype which will subsequently be deployed in a field trial. The current project schedule is for the NetGen+ unit to be delivered by December and the Alpha unit to be developed in the second quarter of 2008.

The partners have agreed to discuss further co-operation in the subsequent development and deployment of 'Beta' CHP units.

E.ON will contribute to product development costs and retains a first option to purchase future CFCL micro CHP units for the British market. The agreement complements E.ON's existing activities in the field of micro CHP and brings Ceramic Fuel Cells close to achieving its partnering objectives in Europe

The units will be able to power a wide range of UK homes and help to reduce carbon emissions in the UK, the company said, adding that it plans to announce an appliance partner responsible for manufacturing the units in due course.

CFU was highlighted as a potential green star in our green energy report in January, which also highlighted Romag at 137.5p and Tanfield at 55.5p…the star performer thus far.

3 July 2007

The world 3rd largest manufacturer of solar panel wafers, ReneSola announced a modest shortfall in production capacity in the Q2 to 23 MW instead of planned 25 MW due to modification work to some monocrystalline furnaces during Q2 – now complete (possibility more may need to modify more if future demand warrants this). The modification enables the company to handle increase demand for 156mm x156mm wafers. With China second only to the US for energy consumption, we expect ReneSola to move sideways for just a tad longer before gaining momentum northwards once the company strategy is complete. For signs of this success, we need to witness productivity and management efficiency improvement, which will alleviate the impact of margin pressure as a result of increasing raw material costs.

The cost of the modifications was not significant, but the furnaces in question needed to be shut down with a consequent effect on the production output. No adjustments are required to the Company's wafer slicing equipment.

Feedstock procurement

ReneSola continues to expand its raw material supply channels through various measures including strengthening its ties with a number of leading global silicon manufacturers. The Company is pleased to announce that it will start tolling manufacturing equivalent to approximately 10 MW of output during the
third quarter. This represents new tolling production in addition to that previously disclosed.

New monocrystalline facility

ReneSola is on track to implement its 2007 capacity expansion. The construction of a new 43,000 m² facility which will house the new monocrystalline furnaces and related wire saws started in June and is expected to be completed in December 2007, once completed, production capacity should reach 213 MW for monocrystalline, while multicrystalline is expected to reach 373 MW, in total, an eight fold increased capacity since listing on AiM a year ago.

ReneSola shares close 22p lower at 522p and off their February peak of 640p but ahead of our initial report at 138p.

28 June 2007

Electric vehicle developer Tanfield Group said it plans to acquire Snorkel Holdings LLC for £50m in cash and shares of which £2.5m with be via 1,535,662 Tanfield shares, and will assume £12.5m in of Snorkel Group debt, which will be paid down. The company said it will raise £115m through a placing to fund the acquisition.

Snorkel supplies industrial aerial work platforms and has manufacturing capabilities along with strong sales and distribution in the US and Australasia, which will be well suited - synergy enhancing fit leading to a more globally efficient supply chain, thus increase margins, which is expected to earning enhancing in the first year of operation.

Funding will provide additional working capital to establish Smith Electric Vehicles in the USA, capitalising on the current opportunities available for zero emission commercial vehicles in North America. Uh, USA going green? This can only be a good thing.

Tanfield shares closed 3p firmer at 187p, a premium on our 55p green report.

20 June 2007

Tanfield put on 8.75p to close 175p just a tad a head of our 55.25p green report in January, on news an order for 300 drive train components for TAN’s Smith Electric Vehicles by the end of the year.

Enova has worked in partnership with Tanfield for almost a year now, developing high performance electric drive train components for Smith Electric Vehicles' zero emission electric vans and trucks. Under the production agreement, Enova will supply 90kW and 120kW electric drive units to Tanfield.

The order is scheduled for delivery throughout the remainder of 2007, as Smith Electric Vehicles continues to secure orders with major fleet owners in the UK and Europeand continue to penetrate the growing international market for commercial electric vehicles