For further information please contact: Merlin Power Systems, Unit 4 Cabot Business Village, Holyrood Close, Poole, Dorset BH17 7BA, United Kingdom.
Tel: +44 (0) 1202 697979 Web: www.merlinpowersystems.com
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29 May 13. Patriotic Power Solutions LLC announced the opening of its Southern California offices and operations. The highly experienced team of Patriotic Power Solutions Energy Company is now serving all Southern California and sees unlimited potential in this market. The company is committed to “Made in America” with solar systems provided by American manufacturers like SolarWorld-USA. The operations will continue the commitment to educate the homeowner and client regarding solar solutions. We are striving to provide the “Best of the Best” solar systems and service in the California market. Southern California is one of the best markets for solar systems with most of Southern California receiving sunlight over 80% of the year. California continues to set the pace for green policy, practice, and economic opportunity. In 2011 California set aggressive renewable energy goals requiring that one third of the state’s electricity come from renewable sources. In addition, California continues to have some of the highest electricity rates in the country. Operations launched in California of Patriotic Power Solutions will place “Made in America” a priority within the Residential Solar Business. Patriotic Power Solutions from its founding has been committed to “Made in America” solar panels, equipment, installation, and monitoring. (Source: Yahoo!/BUSINESS WIRE)
30 May 13. PyroGenesis Canada Inc. (“PyroGenesis” or the “Company”) (PYR.V), announced its financial and operational results for the first quarter of fiscal 2013, ending March 31, 2013 , as well as the grant of options to one of its Directors. In Q1-2013 PyroGenesis has: Increased revenues by over 41% to $1,141,143; Decreased its Cost of Sales and Services by over 50% to $568,862; Increased gross margin (before amortization of licenses) to over 50% to $572,281; and Lowered SG&A expenses as a percentage of revenues. Signed a master service agreement with a multinational petroleum company pursuant to which PyroGenesis will be providing engineering services to look at optimizing and addressing waste issues related to the clients processes. Over the last 18 months, management has undertaken some important restructuring measures to focus and increase the effectiveness of its finance, operations and business development departments. The results have been particularly positive on operations, where the Company has benefitted from better utilization of resources and cost containments, on-time delivery, meeting key project milestones, and improved reporting with respect to project progress and issues. Management expects further increases in revenues in the coming quarters as the restructuring measure pertaining to the business development department start to show results. Revenues for 2013-Q1 were $1,141,143, a 41.2% increase over revenues of $807,943, reported during the same period in fiscal 2012. This increase in revenue in 2013 reflects the end of the “gap period” the Company has been faced with while securing its first reorder from its established client base. In late November 2012, the Company announced that it had secured a $5.5m reorder from Newport News Shipbuilding for a plasma waste destruction system to be installed on the CVN-79, the next US Navy Ford-class air craft carrier, which is to be delivered and recognized into income over the next two years. To date the Company has received the initial funds of $2.1m of the $5.5m, and the balance is to be released over the next 18 months. Revenues in 2013-Q1 are positively impacted by the commencement of work and recognition of the revenues on this new major contract, as well as other projects in progress or completed in the quarter. (Source: CNW Telbec)