EIN Presswire: Geothermal Power Press Releases

ONEOK Chairman Tells Shareholders Net Income Expected to Grow 18 Percent Annually Between 2012-2014; Dividend Expected to Grow 40 Percent during Same Period

Wed, 23 May 2012 20:10:00 +0000

ONEOK Chairman Tells Shareholders Net Income Expected to Grow 18 Percent Annually Between 2012-2014; Dividend Expected to Grow 40 Percent during Same Period

Growth Driven Primarily by Volume Increases

Also Highlights Commitment to Environmental, Safety and Health Performance Improvement

PR Newswire

TULSA, Okla., May 23, 2012 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) Chairman and Chief Executive Officer John W. Gibson today told shareholders at the company's annual meeting that the company expects to increase its net income by approximately 18 percent annually between 2012 and 2014, compared with 2012 earnings guidance, driven primarily by incremental earnings to ONEOK from the growth at ONEOK Partners (NYSE: OKS).

He also told shareholders the company expects to increase its dividend by approximately 40 percent between 2012 and 2014, which includes a projected dividend increase of 5 cents per share on a pre-split basis in July 2012, subject to ONEOK board approval. Compared with its 2011 annual dividend of $2.16 per share, this increase represents a 64-percent increase.

"Most importantly, projected dividend and net income growth at ONEOK is expected to be driven primarily by natural gas and natural gas liquids volume growth at ONEOK Partners, not by higher projected commodity prices or wider price differentials," said Gibson. "And ONEOK shareholders should continue to benefit from the incremental earnings generated by ONEOK Partners' completion of its more than $5 billion internal-growth program, expected to be completed by 2015."

He also said that the company's investment in ONEOK Partners – through its 2-percent general partner interest and limited partner interests that together represent a 43.4-percent total ownership interest – continues to benefit ONEOK and fulfill the partnership's role as ONEOK's growth engine. In 2011, ONEOK received $333 million in total distributions from ONEOK Partners, compared with $145 million in 2006, the first year ONEOK was the sole general partner.

"As ONEOK Partners grows, ONEOK grows," said Gibson. "The partnership's current plans to invest an additional $4.7 billion to $5.6 billion for natural gas, natural gas liquids and crude-oil infrastructure in and around our existing operational footprint should result in increased earnings and cash distributions paid to ONEOK."

Gibson said ONEOK Partners expects earnings before interest, taxes, depreciation and amortization (EBITDA) to increase approximately 20 percent annually between 2012 and 2014, compared with 2012 earnings guidance. The partnership has estimated a 2.5-cent-per-unit-per-quarter increase in unitholder distributions in 2012 and an average annual distribution increase of 15 to 20 percent in 2013 and 2014. Actual unitholder distribution declarations are subject to ONEOK Partners board approval.

The partnership provided the following table that includes the 2012 to 2014 average unhedged price assumptions used in these growth estimates.

Price Assumptions*	2012			2013	2014
NYMEX Crude oil ($/Bbl)	$	97.75	$	103.75	$	110.00
NYMEX natural gas ($/MMBtu)	$	3.30	$	3.30	$	4.25
Natural gas liquids composite ($/gallon)	$	1.20	$	0.97	$	1.14
Conway-to-Mont Belvieu OPIS average ethane price differential ($/gallon)	$	0.32	$	0.26	$	0.15

*Amounts shown exclude the impact of hedging

Gibson said that if 2013 and 2014 commodity prices – crude oil, natural gas and natural gas liquids – remained at the levels assumed in 2012 guidance, 2012 to 2014 earnings growth projections at ONEOK and ONEOK Partners would be reduced by only one percentage point annually.

He also highlighted the company's entry into the crude-oil transportation business through the partnership's previously announced plans to build a 1,300-mile crude-oil pipeline that will transport light-sweet crude oil from the Bakken Shale in the Williston Basin in North Dakota to the Cushing, Oklahoma, crude-oil market hub.

Gibson said ONEOK had an exceptionally strong performance in 2011, led by its ONEOK Partners segment, which increased its volumes and benefited from its integrated midstream natural gas and natural gas liquids assets.

He said the company's natural gas distribution segment should continue to benefit from successful rate and risk-mitigation strategies, combined with targeted capital investments that provide value to investors and its 2 million customers. He noted that the company's energy services segment continues to operate in the most challenging natural gas marketing environment in a decade, but that the segment has become an increasingly smaller percentage of ONEOK's total operating income, approximately 2 percent in 2011.

Total shareholder return for ONEOK shareholders during the last one-, three-, five- and 10-year timeframes has significantly exceeded the S&P 500 index and the S&P 500 utilities index, according to Gibson. In 2011, ONEOK earned a total shareholder return of 61 percent compared with returns of 20 percent for the S&P 500 utilities index and 2 percent for the S&P 500 index, he said.

Gibson also praised the company's environmental, safety and health (ESH) initiatives. "We continue to make progress to strengthen and improve our environmental, safety and health performance, which is a top priority in everything that we do," he said.

He noted that the company is executing to achieve by 2013 specific environmental, safety and health performance goals that include:

Improving its safety performance metrics by 50 percent compared with 2009;
Achieving business-segment ESH performance in the top-25 percent of our peer companies;
Adding an additional environmental component to company ESH management systems companywide;
Establishing a behavior-based safety program companywide;
Reviewing company resource use, such as water, electricity and fuel;
Developing initiatives to achieve annual environmental footprint reductions on a per-unit basis;
Expanding companywide ESH policies, procedures and training programs;
Establishing formal ESH audit and risk-assessment programs; and
Establishing an interdependent ESH culture, in which employees not only do their part as individuals, but also work together with fellow employees and contractors to strengthen and sustain company ESH initiatives.

"By achieving these specific goals, we expect to build on the progress we have already made and will continue to make future ESH improvements a priority," Gibson said.

"We want to be recognized as a leader in protecting the environment, safety and health of our employees, contractors, customers and the public. To reach that goal, we've still got a ways to go; however, we are taking the steps necessary to move us to that pinnacle of achievement," he stated.

Gibson also thanked and recognized the company's 4,800 employees for the company's continued success, noting employees are the "ones whose creativity, execution and hard work get things done for you, our shareholders. The talent, commitment and dedication of our employees are what distinguish us from our competitors – and ultimately make us successful."

NON-GAAP (GENERALLY ACCEPTED ACCOUNTING PRINCIPLES)
FINANCIAL MEASURE

ONEOK has disclosed in this news release anticipated EBITDA levels that is a non-GAAP financial measure for ONEOK Partners. EBITDA is used as a measure of the partnership's financial performance. EBITDA is defined as ONEOK Partners' net income adjusted for interest expense, depreciation and amortization, income taxes and allowance for equity funds used during construction attributable to ONEOK Partners.

ONEOK believes the non-GAAP financial measure described above is useful to investors because this measurement is used by many companies in its industry as a measurement of financial performance of ONEOK Partners and is commonly employed by financial analysts and others to evaluate the financial performance of the partnership and to compare the financial performance of the partnership with the performance of other publicly traded partnerships within its industry.

ONEOK Partners' EBITDA should not be considered an alternative to net income, earnings per unit or any other measure of financial performance presented in accordance with GAAP.

This non-GAAP financial measure excludes some, but not all, items that affect net income. Additionally, these calculations may not be comparable with similarly titled measures of other companies. Furthermore, this non-GAAP measure should not be viewed as indicative of the actual amount of cash that is available for distributions or that is planned to be distributed for a given period nor does it equate to available cash as defined in the ONEOK Partners' partnership agreement.

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ONEOK, Inc. (NYSE: OKE) is a diversified energy company. We are the general partner and own 43.4 percent of ONEOK Partners, L.P. (NYSE: OKS), one of the largest publicly traded master limited partnerships, which is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers. ONEOK is among the largest natural gas distributors in the United States, serving more than 2 million customers in Oklahoma, Kansas and Texas. Our energy services operation focuses primarily on marketing natural gas and related services throughout the U.S. ONEOK is a FORTUNE 500 company and is included in Standard & Poor's (S&P) 500 Stock Index.

For more information, visit the website at www.oneok.com.

For the latest news about ONEOK, follow us on Twitter @ONEOKNews.

Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. The forward-looking statements relate to our anticipated financial performance, liquidity, management's plans and objectives for our future operations, our business prospects, the outcome of regulatory and legal proceedings, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. The following discussion is intended to identify important factors that could cause future outcomes to differ materially from those set forth in the forward-looking statements.

Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "should," "goal," "forecast," "guidance," "could," "may," "continue," "might," "potential," "scheduled," and other words and terms of similar meaning.

One should not place undue reliance on forward-looking statements, which are applicable only as of the date of this news release. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Those factors may affect our operations, markets, products, services and prices. In addition to any assumptions and other factors referred to specifically in connection with the forward-looking statements, factors that could cause our actual results to differ materially from those contemplated in any forward-looking statement include, among others, the following:

the effects of weather and other natural phenomena, including climate change, on our operations, including energy sales and demand for our services and energy prices;
competition from other United States and foreign energy suppliers and transporters, as well as alternative forms of energy, including, but not limited to, solar power, wind power, geothermal energy and biofuels such as ethanol and biodiesel;
the status of deregulation of retail natural gas distribution;
the capital intensive nature of our businesses;
the profitability of assets or businesses acquired or constructed by us;
our ability to make cost-saving changes in operations;
risks of marketing, trading and hedging activities, including the risks of changes in energy prices or the financial condition of our counterparties;
the uncertainty of estimates, including accruals and costs of environmental remediation;
the timing and extent of changes in energy commodity prices;
the effects of changes in governmental policies and regulatory actions, including changes with respect to income and other taxes, pipeline safety, environmental compliance, climate change initiatives and authorized rates of recovery of natural gas and natural gas transportation costs;
the impact on drilling and production by factors beyond our control, including the demand for natural gas and crude oil; producers' desire and ability to obtain necessary permits; reserve performance; and capacity constraints on the pipelines that transport crude oil, natural gas and NGLs from producing areas and our facilities;
changes in demand for the use of natural gas because of market conditions caused by concerns about global warming;
the impact of unforeseen changes in interest rates, equity markets, inflation rates, economic recession and other external factors over which we have no control, including the effect on pension and postretirement expense and funding resulting from changes in stock and bond market returns;
our indebtedness could make us vulnerable to general adverse economic and industry conditions, limit our ability to borrow additional funds and/or place us at competitive disadvantages compared with our competitors that have less debt, or have other adverse consequences;
actions by rating agencies concerning the credit ratings of ONEOK and ONEOK Partners;
the results of administrative proceedings and litigation, regulatory actions, rule changes and receipt of expected clearances involving the Oklahoma Corporation Commission (OCC), Kansas Corporation Commission (KCC), Texas regulatory authorities or any other local, state or federal regulatory body, including the Federal Energy Regulatory Commission (FERC), the National Transportation Safety Board (NTSB), the Pipeline and Hazardous Materials Safety Administration (PHMSA), the Environmental Protection Agency (EPA) and the Commodity Futures Trading Commission (CFTC);
our ability to access capital at competitive rates or on terms acceptable to us;
risks associated with adequate supply to our gathering, processing, fractionation and pipeline facilities, including production declines that outpace new drilling;
the risk that material weaknesses or significant deficiencies in our internal controls over financial reporting could emerge or that minor problems could become significant;
the impact and outcome of pending and future litigation;
the ability to market pipeline capacity on favorable terms, including the effects of:
- future demand for and prices of natural gas and NGLs;
- competitive conditions in the overall energy market;
- availability of supplies of Canadian and United States natural gas; and
- availability of additional storage capacity;
performance of contractual obligations by our customers, service providers, contractors and shippers;
the timely receipt of approval by applicable governmental entities for construction and operation of our pipeline and other projects and required regulatory clearances;
our ability to acquire all necessary permits, consents or other approvals in a timely manner, to promptly obtain all necessary materials and supplies required for construction, and to construct gathering, processing, storage, fractionation and transportation facilities without labor or contractor problems;
the mechanical integrity of facilities operated;
demand for our services in the proximity of our facilities;
our ability to control operating costs;
adverse labor relations;
acts of nature, sabotage, terrorism or other similar acts that cause damage to our facilities or our suppliers' or shippers' facilities;
economic climate and growth in the geographic areas in which we do business;
the risk of a prolonged slowdown in growth or decline in the United States or international economies, including liquidity risks in United States or foreign credit markets;
the impact of recently issued and future accounting updates and other changes in accounting policies;
the possibility of future terrorist attacks or the possibility or occurrence of an outbreak of, or changes in, hostilities or changes in the political conditions in the Middle East and elsewhere;
the risk of increased costs for insurance premiums, security or other items as a consequence of terrorist attacks;
risks associated with pending or possible acquisitions and dispositions, including our ability to finance or integrate any such acquisitions and any regulatory delay or conditions imposed by regulatory bodies in connection with any such acquisitions and dispositions;
the possible loss of natural gas distribution franchises or other adverse effects caused by the actions of municipalities;
the impact of uncontracted capacity in our assets being greater or less than expected;
the ability to recover operating costs and amounts equivalent to income taxes, costs of property, plant and equipment and regulatory assets in our state and FERC-regulated rates;
the composition and quality of the natural gas and NGLs we gather and process in our plants and transport on our pipelines;
the efficiency of our plants in processing natural gas and extracting and fractionating NGLs;
the impact of potential impairment charges;
the risk inherent in the use of information systems in our respective businesses, implementation of new software and hardware, and the impact on the timeliness of information for financial reporting;
our ability to control construction costs and completion schedules of our pipelines and other projects; and
the risk factors listed in the reports we have filed and may file with the Securities and Exchange Commission (SEC), which are incorporated by reference.

These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other factors could also have material adverse effects on our future results. These and other risks are described in greater detail in Item 1A, Risk Factors, in the Annual Report. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.

Analyst Contact:	Andrew Ziola
	918-588-7163
Media Contact:	Brad Borror
	918-588-7582

SOURCE ONEOK, Inc.

CMARK continues development in Energy Sector

Fri, 18 May 2012 13:44:27 +0000

CMARK continues development in Energy Sector

PR Newswire

COLUMBIA, S.C., May 18, 2012 /PRNewswire/ -- CMARK International, Inc., (OTC Pink Sheets: CMIT) a global provider of facility and logistic support services for government and commercial institutions is continuing to make considerable efforts with a larger portion of its product offering into alternative energy production as well as energy conservation.

Following up on initial efforts last fall with researching and developing geothermal energy applications, the company was invited and attended the U.S Navy Geothermal Program Office's Industry Conference on Geothermal energy in Reno, Nevada, this past December. After further study and research the company developed and recently proposed through one its affiliate joint ventures, a geothermal energy option package during the construction of an Army Reserve center in South Carolina.

According to publication on Geothermal Resource Estimates for the United States by the National Renewable Energy Laboratory, the total resource base in the United States, both renewable and non-renewable, is very large, nearly 50,000 times the annual current rate of national energy consumption. In addition to being a consumer, the United States Department of Defense is now exploring the potential to be a supplier of geothermal energy.

In another energy related area - energy conservation - CMARK International, Inc. has a full and continually expanding line of private label food service equipment - Columbia Food Equipment. This line has been gradually developed for the last four years.

The Columbia Food Equipment brand includes over 4,000 individual products with a substantial amount being cooking and refrigeration equipment. The vast majority of this equipment carries the ENERGY STAR certification for energy conservation features. Since the majority of the applications for this equipment are on U.S. Government projects, the company's effort to continue to develop and offer ENERGY STAR products is an ongoing commitment.

"The increasing involvement and enthusiasm of the Department of Defense and the Veterans Administration in the usage of alternative energy as well as energy conservation programs and requirements, indicates the vast potential of such initiatives and is a clear sign of CMARK moving in the right direction," said Charles Jones, president of CMARK.

About CMARK International, Inc.:

CMARK International is a licensed architectural firm with a history since June of 2000, of providing products and services for construction and design projects for U.S. government facilities worldwide.

CMARK International provides a wide array of facility and logistic support services including construction, architectural design, food service, furnishings and maintenance and operation services with a primary focus on U.S. federal facilities. The company operates out of its headquarters in Columbia, SC with other field support locations in the United States, Europe, and Asia.

For more information, visit http://www.cmark.org.

Forward Looking Statements

Statements contained in this press release which are not historical facts are known as forward-looking statements as that item is defined in the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Act of 1995. These forward- looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from estimated results. The forward- looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

CONTACT:
Melanie Lauramore
803-699-4940

SOURCE CMARK International, Inc.

Wisconsin Power and Light Company exercises option to purchase Riverside Energy Center

Fri, 18 May 2012 12:00:00 +0000

Wisconsin Power and Light Company exercises option to purchase Riverside Energy Center

600MW combined cycle natural gas facility is located in Beloit, WI

PR Newswire

MADISON, Wis. and HOUSTON, May 18, 2012 /PRNewswire/ -- Wisconsin Power and Light Company (WPL), a subsidiary of Alliant Energy Corporation (NYSE:LNT), announced today that it exercised its option to purchase Riverside Energy Center, LLC, which owns the Riverside Energy Center, from Calpine Corporation (NYSE:CPN).

(Logo: http://photos.prnewswire.com/prnh/20020405/LNTLOGO)

The Riverside Energy Center (Riverside) is a 600MW combined cycle natural gas-fired electric generating facility located in Beloit, Wisconsin. It began operation in 2004. WPL currently has a purchase power agreement for approximately 500MW from Riverside. Under that agreement, WPL has the option to purchase Riverside if it exercises the option on or before May 31, 2012.

"We exercised our option because we believe purchasing Riverside allows us to better manage our generation fleet to reduce our reliance on market purchases, manage costs for our customers and remain flexible for the future," said John Larsen, President – WPL.

"We are pleased we were able to work with Wisconsin Power and Light to achieve a mutually successful outcome by providing them a clean, modern and efficient facility needed to serve their customers while realizing value for Calpine that may now be strategically redeployed for the benefit of our shareholders," said Thad Hill, Calpine Chief Operating Officer. "We are also pleased that Wisconsin Power and Light is interested in retaining the current Riverside employees to assure a smooth ownership and operating transition."

The Public Service Commission of Wisconsin approved the approximately $392 million purchase last month. The purchase is subject to approval from the Federal Energy Regulatory Commission (FERC) and under the Hart-Scott-Rodino Act.

WPL expects to close this purchase by December 31, 2012.

Wisconsin Power and Light Company (WPL), based in Madison, Wis., provides electric service to approximately 459,000 customers and natural gas service to approximately 180,000 customers in more than 600 communities across central and southern Wisconsin. WPL is committed to providing the energy and exceptional service its customers and communities expect – safely, reliably, and affordably. WPL is a subsidiary of Alliant Energy Corporation, for more information, visit alliantenergy.com or call 1-800-ALLIANT (800-255-4268).

This press release includes forward-looking statements. These forward-looking statements can be identified as such because the statements include words such as "expects," "believe," or other words of similar import. Such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Actual results could be materially affected by the following factors, among others: governmental actions and regulatory approvals, WPL's continued access to capital markets, legal proceedings against WPL and the availability of Riverside post-closing. The forward-looking statements included herein are made as of the date hereof and Alliant Energy and WPL undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.

Founded in 1984, Calpine Corporation is a major U.S. power company, currently capable of delivering approximately 28,000 megawatts of clean, cost-effective, reliable and fuel-efficient power from its 92 operating plants to customers and communities in 20 U.S. states and Canada. Calpine Corporation is committed to helping meet the needs of an economy that demands more and cleaner sources of electricity. Calpine owns, leases and operates primarily low-carbon, natural gas-fired and renewable geothermal power plants. Using advanced technologies, Calpine generates power in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit our website at www.calpine.com for more information.

In addition to historical information, this release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "believe," "intend," "expect," "anticipate," "plan," "may," "will" and similar expressions identify forward-looking statements. Such statements include, among others, those concerning expected financial performance and strategic and operational plans, as well as assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Please see the risks identified in this release or in Calpine's reports and registration statements filed with the Securities and Exchange Commission, including, without limitation, the risk factors identified in its Annual Report on Form 10-K for the year ended Dec. 31, 2010. These filings are available by visiting the Securities and Exchange Commission's website at www.sec.gov or Calpine's website at www.calpine.com. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and Calpine undertakes no obligation to update any such statements.

SOURCE Wisconsin Power and Light Company

Trina Solar Announces 2.1 MW Off-Grid Project in Tibet

Tue, 15 May 2012 12:00:00 +0000

Trina Solar Announces 2.1 MW Off-Grid Project in Tibet

PR Newswire

CHANGZHOU, China, May 15, 2012 /PRNewswire-Asia/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or "the Company") announced that it has entered into a supply agreement with Longyuan (Tibet) New Energy Co., Ltd. ("Longyuan (Tibet)") to supply an off-grid solar system project in the Northern Tibetan region of Naqu. The agreement marks an important milestone for Trina Solar in the domestic market, where the Company is expanding its commercial presence.

The 2.1 MW project is Trina Solar's largest off-grid system project in China in recent years, following the construction of approximately 40 standalone power stations in 2002 in the Chamdo region of Tibet.

"We are very pleased to have been selected by Longyuan (Tibet) for the Naqu project," said Jifan Gao, Chairman and CEO of Trina Solar. "Quality irradiance in this highly elevated region underscores its suitability for such a project. We are committed to providing quality products and excellent service in implementing this project, which we believe can benefit the local population."

"This off-grid project, which differs from utility scale projects in terms of set-up and components, will use our specially-designed PC20 off-grid modules," said Mark Kingsley, Chief Commercial Officer of Trina Solar. "We believe the off-grid market has the potential to bring another dimension of growth to the Company. These installations, believed to be one of the largest off-grid module orders in China, are especially suited for Tibet's environment owing to its clean air, excellent sunlight, and challenges of rugged topography to extend traditional distributed power. We are especially pleased to be supplying our solutions in the Tibet Region, where our legacy projects from ten years ago are still improving lives."

Naqu Prefecture is located in Northern Tibet, bordering with Xinjiang and Qinghai, with total area of more than 400,000 square kilometers. It is situated on an altitude of 4,500 meters. The territory possesses basins, lakes, rivers and forests, and as one of the few crop-producing areas of Tibet. With an average 2,900 sunlight hours per year, the region is highly suited to PV solar generation.

Naqu is one of the Tibetan areas lacking distributed grid power. Trina Solar hopes that the new off-grid project will alleviate the electricity shortages of the farmers and herdsmen, thereby improving the quality of life, while promoting local economic and social development in the region.

About Trina Solar Limited

Trina Solar Limited (NYSE: TSL) is a leading manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com.

About Longyuan (Tibet) New Energy Co., Ltd.

Longyuan (Tibet) New Energy Co., Ltd. is an affiliate of China Longyuan Power Group Co., Ltd. China Longyuan Power Group Co., Ltd. was founded in 1993 and is one of the pioneers focused on the exploration of new energy resources in China. The Company is primarily engaged in the design, development, construction, management and operation of wind farms. In addition to the wind power business, the Company also operates other power projects such as thermal power, solar power, tidal, biomass and geothermal energy. For more information, please visit www.clypg.com.cn/en.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the Company's ability to operate as a public company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; demand in various markets for solar products; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

For further information, please contact:
Trina Solar Limited	Brunswick Group
Terry Wang, CFO	Caroline Jinqing Cai
Phone: + 86.519-8548-2009 (Changzhou)	Phone: + (86) 10-6566-2256
Thomas Young, Vice President, Investor Relations	Michael Fuchs
Phone: + 86.138.6118.3779 (Global)	Phone: + (86) 10-6566-2256
Email: ir@trinasolar.com	Email: trina@brunswickgroup.com

SOURCE Trina Solar Limited

eCORP and Advanced Drilling Solutions Enter into Agreement to Provide Slim Hole Evaluation Drilling Services

Thu, 10 May 2012 22:10:04 +0000

eCORP and Advanced Drilling Solutions Enter into Agreement to Provide Slim Hole Evaluation Drilling Services

PR Newswire

HOUSTON, May 10, 2012 /PRNewswire/ -- eCORP International, LLC subsidiary eCORP Europe Holding Limited ("eCORP") and Advanced Drilling Solutions GmbH affiliate BG Management Consulting ("ADS") are pleased to announce that they have executed an agreement to develop a diagnostic unit for examining the earth's crust, comprised of a specially designed drilling (coring) rig and a mobile geological laboratory, called a Slim Hole Evaluation Drilling ("SHED") unit. This equipment will yield technical data which will be of interest to the scientific community and critical to energy companies developing oil, gas and geothermal energy as well as other minerals-oriented endeavors. Due to the small borehole size, the rig, which is patterned after a hard minerals coring rig but is enhanced with an automated, fast response fluids handling system to effect positive control over the well, has a small footprint and a correspondingly minimal impact on the surface during operation. It is designed for onshore use. eCORP expects to be the first company to deploy the SHED unit in European operations. The Company will strictly adhere to, or exceed, regulatory requirements while drilling and currently plans to permanently plug and abandon these "needle biopsies" prior to rig move-out so that there is virtually no residual effect from the earth sampling process. In the event a need for future scientific data-gathering is foreseen, the wells could be equipped with downhole data-gathering electronics compatible with the permanent abandonment. While on location, the SHED unit will retrieve samples of the rock cored continuously through the depths being drilled, up to design depths of 3500 meters, and immediately record all relevant onsite data measured on the core.

(Logo: http://photos.prnewswire.com/prnh/20120510/DA05399LOGO)

Pursuant to the SHED Agreement, eCORP and ADS will complete market and regulatory research followed by design and construction of an initial set of equipment to be deployed in Central and Western Europe where eCORP holds a number of well-situated licenses in premier basins with discussions under way to materially expand its holdings. Additional units are expected to be produced in the future.

Bouchra Lamik-Thonhauser, Managing Director of ADS, stated, "This partnership will allow us to utilize unique technology we are developing and leverage our know-how in the development of drilling and evaluation tools to allow exploration activities with the smallest possible environmental footprint."

Gerhard Thonhauser, Chief Technology Officer of ADS, commented, "The SHEDS system will be a game changing technology as an exploration tool in Europe and other global markets. The integration of a compact drilling and evaluation system utilizing the latest technology in terms of automation and remote operations support will allow us to reach unique efficiency in terms of cost and environmental impact."

John Thrash, Chairman and CEO of eCORP, noted, "The SHED unit represents another important component we are adding to our ensemble of high quality, low cost, low impact exploration tools. We are fortunate to be associated with pioneers of this technology, whose experience in proving this technology dates back to the 1980s."

During the field production phase, eCORP plans to drill wells employing "pad" drilling where a number of wellheads are confined to a small surface location, and other proven drilling technology that presents a smaller footprint than historical approaches. A companion, environmentally sensitive production enhancing tool eCORP expects to employ is propane reservoir stimulation which is being offered by ProStim, another service provider co-owned by eCORP. This use of gelled propane to enhance production from hydrocarbon reservoirs is a natural solution to well stimulation concerns vocalized recently -- propane, which is used in millions of households, is a constituent of the natural gas being produced, albeit usually in low concentrations. We believe this game-changing technology will be embraced by, not only regulators and the industry, but the general population as well. GASFRAC, eCORP's partner in the ProStim venture, has successfully employed this technology in North America, pumping over 1,350 stimulations in reservoirs from Alberta, Canada to south Texas, USA. In addition, eCORP has extensive experience with gaseous propane and butane, having used these substances in enhanced oil recovery operations in conventional reservoirs in South Texas in the 1980s.

Founded in 1978, eCORP and its predecessor companies have extensive oil and gas experience including underground natural gas storage, natural gas transportation, enhanced oil recovery in conventional reservoirs using propane and butane, exploration for and production of conventional and unconventional reservoirs, electric power generation and marketing of electricity and gas. The company was an early mover in the Marcellus play in Pennsylvania and New York, USA and recognized its potential while developing its highly acclaimed Stagecoach Storage project in New York. The company acquired European prospective acreage after farming out holdings in the Marcellus. The company's world class management team expects to apply its broad background in Europe as well as the US to develop oil and gas fields, gas storage and power generation taking maximum advantage of its ensemble of environmentally friendly exploration and development tools.

ADS were founded in 2008 with a research and development mission to expand the drilling envelope and to develop cutting edge drilling technology as well as surface and downhole measurement systems. Technologies include composite drill pipe solutions for extended reach drilling, unique surface monitoring systems to evaluate drilling equipment as well as downhole communication and measurement systems. Drilling technology is developed for the oil and gas industry as well as geothermal applications, e.g. geothermal storage solutions. ADS build high quality engineering teams in electronics, embedded systems and automation as well as mechanical engineering and material science.

eCORP media requests should be directed to:
Mark Stauss
Director of Commercial Operations
E-mail: mouinfo@ecorpintl.com
Phone: +1-713-416-0280

eCORP and Advanced Drilling Solutions Enter into Agreement to Provide Slim Hole Evaluation Drilling Services

Thu, 10 May 2012 21:32:27 +0000

eCORP and Advanced Drilling Solutions Enter into Agreement to Provide Slim Hole Evaluation Drilling Services

PR Newswire

(Logo: http://photos.prnewswire.com/prnh/20120510/DA05399LOGO)

eCORP media requests should be directed to:
Mark Stauss
Director of Commercial Operations
E-mail: mouinfo@ecorpintl.com
Phone: 713-416-0280

SOURCE eCORP International, LLC

Global Alternative Energy Industry

Thu, 10 May 2012 11:56:23 +0000

Global Alternative Energy Industry

PR Newswire

NEW YORK, May 10, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Global Alternative Energy Industry

http://www.reportlinker.com/p0155837/Global-Alternative-Energy-Industry.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Renewable

The global outlook series on Alternative Energy provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global Alternative Energy industry, identifies major short to medium term market challenges, and growth drivers. Regional markets elaborated upon include US, Canada, Japan, Europe, India, Australia, China, Thailand, Philippines, Indonesia, and Latin America among others. The report also offers a recapitulation of recent mergers, acquisitions, and corporate developments in addition to an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 617 companies active in the market.

1. INDUSTRY OVERVIEW 1Clean Energy Trends: The Changing Face of the Future 1Alternative Energy Gains Global Prominence 1China Dominates Global Clean Energy Industry 2Reduction in Prices Unravel New Growth Opportunities 3Current & Future Analysis 3Table 1: World Recent Past, Current & Future Analysis forAlternative Energy by Geographic Region - US, Canada, Europe,Asia-Pacific (including Japan), Latin America and Rest ofWorld Markets with Annual Consumption in Terawatt-Hours forYears 2010 through 2015 4

Table 2: World 5-Year Perspective for Alternative Energy by

Geographic Region Percentage Breakdown of Annual Consumption

in Terawatt-Hours for US, Canada, Europe, Asia-Pacific

(including Japan), Latin America and Rest of World Markets

for Years 2011 & 2015 5

Table 3: World Recent Past, Current & Future Analysis forAlternative Energy by Sector - Nuclear Power,Hydroelectricity and Other Renewables with Annual Consumptionin Terawatt-Hours for Years 2010 through 2015 6

Table 4: World 5-Year Perspective for Alternative Energy by

Sector Percentage Breakdown of Annual Consumption in

Terawatt-Hours for Nuclear Power, Hydroelectricity and Other

Renewables for Years 2011 & 2015 7

Market Dynamics 7

Global Renewable Energy Industry Recovers Post Economic

Recession 7

Consolidation Imperative in the Current Economic Environment 8

Renewable Energy to Transform Rural Landscape in Developing

Countries 8

Renewable Energy Targets and Initiatives 8

United States 8

Europe 9

Spain 9

Germany 9

China 10

India 10

Renewable Electricity and Green Power Purchasing Certificates 10

Market Challenges 11

Logistical and Financial Problems Force Closure of Clean-

Technology Mega-Projects 11

Clean Technology Economics - A Long- Term Initiative 11

Rising Concerns Over Natural Resource Depletion May Eclipse

Clean Tech Projects 12

2. REVIEW OF KEY SECTORS 13Solar Energy: Riding on GREEN Strength 13Solar Power: A Part of the Energy Mix Portfolio 13Solar Photovoltaics Market 14Long-term Prospects Upbeat for the PV Systems Market 14Concentrating Solar Thermal Power Market 15A Peek into the Government Efforts Worldwide to Promote SolarEnergy 15China Outstrips Japan in Solar Cells Production 16Table 5: World PV Cell Production (2010): Percentage ShareBreakdown by Country 16Key Statistics 17Table 6: Leading PV Module Suppliers Worldwide (2010):Percentage Share Breakdown by MW Shipped 17

Table 7: Leading Solar Panel Producers Worldwide (2010):

Percentage Breakdown by Production in MW 17

Wind Industry - An Overview 18

Wind Energy Recovers from Economic Doldrums 18

Europe and North America: The Wind Energy Heavyweights 19

What Makes Winds a Clean, Safe & Affordable Source of Energy? 19

Offshore Wind Energy: The Next Great Leap for the Wind Industry 20

Nuclear Power 20

Amidst Controversies Nuclear Power Makes a Comeback to the Fore 20

High Crude Oil Prices Stimulate Growth of Nuclear Power 21

Impact of Global Economic Recession on Nuclear Power Plans 21

Nuclear Energy: A Growing Need for Both Developed and

Emerging Economies 21

Nuclear Power Share Undeterred Due to Rise in Average Load

Factor 22

Capacity Expansions, Financial Incentives to Up Nuclear Power

Production 22

Global Warming Concerns to Drive Demand for Nuclear Energy 22

Regulations: The Global Nuclear Energy Partnership (GNEP) 23

Biomass Power 24

Biofuels 24

Geothermal Power 24

Ocean Energy 25

Hydropower 26

3. PRODUCT OVERVIEW 27Renewable Energy Sources 27Solar Energy 27Concentrated Solar Power (CSP) Technology 27Solar Power Tower 27Solar Trough 28Parabolic Dish System 28Photovoltaics 28Evolution of Photovoltaic Technology 28Solar Technologies 29Solar Lighting Methods 29Daylighting Systems 29Hybrid Solar Lighting 30Uses of Solar Energy 30Horticulture and Agriculture 30Heating, Ventilation, and Cooling 30Solar Hot Water Systems 30Solar Distillation 30Solar Water Disinfection 31Solar Cookers 31Waste Water Treatment 31Process Heat 32Evaporation Ponds 32Solar Vehicles 32Solar Chemical 32Other Uses of Solar Energy 33Experimental Use of Solar Energy 33Solar Updraft Tower 33Thermovoltaic Devices 34Space Solar Power Systems 34Applications and Advantages of Solar Energy 34Methods for Storing Solar Energy 34Wind Power 35How Wind is Generated? 35Wind Turbines 35Drawbacks of Wind Power 36Hydropower 36Dedicated Hydroelectric Plants 36Small-Scale Hydroelectric Power Plants 36Benefits of Hydroelectricity 37Drawbacks of Hydroelectric Power 37Wave Power 37Energy Generation Methods 37Advantages of Wave Power 38Drawbacks 38Tidal Energy 38Earth-Moon-Sun: Tidal Energy Generators 38Types of Tidal Energy 39Tidal Stream Systems 39Barrages 39Tidal Stream Generators 39Shrouded Tidal Energy Turbine 39Advantages and Disadvantages of Shrouded Turbines 40Methods of Tidal Power Generation 40Barrage Tidal Power 40Ebb Generation 40Flood Generation 41Two-Basin Schemes 41Biomass 41Low Tech Methods 41High Tech Methods 41Impact of Biomass on Environment 42Wood Biomass 42Biofuels 42Nuclear Power 42Uranium - The Key Source of Nuclear Power Generation 43Alternative Vehicle Fuels 43Electricity 43CNG & LNG 43LPG 44Hydrogen 44Ethanol 44Methanol 44Biodiesel 44

4. EVOLUTION OF MAJOR RENEWABLE ENERGY SOURCES: AN OVERVIEW 45

Solar Energy 45

Solar Energy: Research & Development 45

Solar Energy: Market Development 45

Wind Energy 46

Wind Energy: Evolution and Development 46

Wind Energy: Advancements and Market Development 46

Hydroelectric Power 46

5. MERGERS & ACQUISITIONS 48

6. RECENT INDUSTRY ACTIVITY 66

7. PRODUCT LAUNCHES 98A REGIONAL MARKET PERSPECTIVE 104

1. NORTH AMERICA 104

1a. UNITED STATES 104Alternative Energy Resources Gain Focus 104Industry Regulations 105Renewable Energy Market Overview 105Solar Energy Market- An Overview 106Government Policies Fuel Solar Energy Growth 106Investment Scenario 107US - The Global Leader in Wind Energy 107Market Challenges 108A Windmap of Windpower Status 108California 108Illinois 108Minnesota 109Texas 109Iowa 109Washington 109Nuclear Energy Overview 109US - A Major Industry Contributor 109An Overview of Hydropower Industry 110Biomass 110Geothermal Market Overview 110

1b. CANADA 112

Wind Energy Overview 112

Ontario - A Leader in the Making 112

Solar Energy Overview 113

Table 8: Canadian PV Market (2010): Breakdown of Annual PV

Power Installed (MW) 113

End Use Market 113

Equipment Market 113

PV Technology: The Prospects 114

The Barriers 114

2. JAPAN 115Alternative Energy Overview 115Solar Energy Overview 115Japanese Players to Ramp Up Production to Regain Share 115The NEDO Contribution 116The METI Strategy 117Wind Energy Overview 117Geothermal Energy Overview 118

3. EUROPE 119

EC's Proposals for Promoting Renewable Energy Sources 119

Table 9: EU Renewable Energy Targets for EU15 Countries by

2020 120

Government Incentives for New Energy Plants 120

PV Overview 120

Wind Energy Overview 121

The Regional Wind Energy Leaders 121

Offshore Wind Energy to Grow Exponentially 121

Offshore Wind Energy Challenges 121

Table 10: Leading Turbine Makers for the Offshore Grid

(2010): Percentage Share Breakdown of Sales for Siemens,

Vestas and REpower 122

Central and Eastern Europe Exhibit Strong Growth Potential 122

High and Low Growth Countries 122

Market Analytics 123

Table 11: European Recent Past, Current & Future Analysis for

Alternative Energy by Geographic Region - France, Germany,

Italy, UK, Spain, Russia and Rest of Europe with Annual

Consumption in Terawatt Hours for Years 2010 through 2015 123

Table 12: European 5-Year Perspective for Alternative Energyby Geographic Region - Percentage Breakdown of Consumption inTerawatt Hours for France, Germany, Italy, UK, Spain, Russiaand Rest of Europe Markets for Years 2011 & 2015 124

3a. FRANCE 125

Renewable Energy Overview 125

Solar Energy Overview 125

Governmental Support and Funding 125

Wind Energy Overview 126

3b. GERMANY 127Solar Energy Overview 127Wind Energy Overview 127

3c. ITALY 128

Italian PV Market to Witness Robust Growth 128

Research Programs 128

A Brief Overview of the Italian Wind Energy Market 128

Leading Wind Energy Producers & Turbine Manufacturers 129

Geothermal Industry Overview 129

3d. UNITED KINGDOM 130Renewable Energy Overview 130Solar Energy Overview 130Wind Energy Overview 130Government Promotes Offshore Wind Farms 131Natural Gas Overview 132Biofuel Overview 132

3e. SPAIN 133

Renewable Energy Overview 133

Solar Energy Overview 133

Issues Before the Industry 133

Wind Energy Overview 134

3f. REST OF EUROPE 135Romania 135Renewable Energy Overview 135Czech Republic 135PV Industry Overview 135Sweden 135Alternative Energy Overview 135Wind Energy Overview 136Turkey 136Wind Power Overview 136Switzerland 137Alternative Energy Overview 137Estonia 137Renewable Energy Overview 137Finland 137Renewable Energy Overview 137Lithuania 138Renewable Energy Overview 138Latvia 138Renewable Energy Overview 138Denmark 139Renewable Energy Overview 139Wind Energy Overview 139Netherlands 140

4. ASIA-PACIFIC 141

Renewable Energy Sector- An Overview 141

Southeast Asia Presents Immense Growth Prospects 141

Table 13: Renewable Energy Market in Southeast Asia:

Percentage Share of Installed Capacity by Technology for the

Years 2012 & 2015(E) 142

Geothermal and Biomass Energy Lead the Suite 142

Philippines Leads Southeast Asian Market for Renewable Energy 142

Solar Power Market- An Overview 143

Wind Energy - Asia-Pacific 144

China and India Drive Wind Energy Market in Asia 144

Wind Energy in Southeast Asia 144

Small Hydropower Plants - the Mainstay of Hydropower Sector in

Southeast Asia 144

Philippines and Indonesia Lead Geothermal Power Sector in

Southeast Asia 145

Substantial Resources Bode Strong Growth in Biomass Power 145

Key Markets 146

Biofuel Market Booming in Asia-Pacific 146

Market Analytics 146

Table 14: Asia Pacific Recent Past, Current & Future Analysis

for Alternative Energy by Geographic Region - China, India,

Japan, Rest of Asia-Pacific with Annual Consumption in

Terawatt hours for Years 2010 through 2015 147

Table 15: Asia Pacific 5-Year Perspective for AlternativeEnergy by Geographic Region - Percentage Breakdown ofConsumption in Terawatt Hours for China, India, Japan, Restof Asia-Pacific for Years 2011 & 2015 148

4a. CHINA 149

Rising Energy Demand Shifts Focus to Alternative Energy Sources 149

Alternative Energy Opportunities in China 149

Renewable Energy Market in China 149

Government Support for Renewable Energy Market 150

The Renewable Energy Act 151

Solar Energy Sector - A Review 151

China Poised to Become Major Solar Energy Consumer 152

Table 16: Leading Solar PV Manufacturers in China (2010):

Percentage Share Breakdown by Revenues 152

Table 17: Top Solar Panel Producers in China (2010): Rankedby Estimated Production in Megawatts 153Wind Energy Exhibits High Potential for Growth 153

4b. INDIA 155

Renewable Energy Market in India - A Primer 155

Government Support 155

Renewable Energy Resources to Fulfill Growing Energy Needs 156

An Overview of Solar Power Market 157

Major Players 157

India Treads Forward in Wind Energy 157

Increasing Focus on Small Hydropower Plants 158

Biofuel Market on Growth Path 158

4c. AUSTRALIA 159An Overview of Renewable Energy Market 159Huge Prospects Lie Within 159PV Market - An Overview 159Geothermal Market Overview 160

4d. THAILAND 161

Renewable Energy Market- An Overview 161

Solar Energy: Proving to be the Best Alternative 161

Hydroelectric Power Generation to Increase 161

Thailand Falls Short of Alternative Energy Targets 161

4e. PHILIPPINES 162Alternative Energy - An Indispensable Constituent of Energy Mix 162

4f. INDONESIA 163

Renewable Energy Market- An Overview 163

4g. SOUTH KOREA 163

5. LATIN AMERICA 164

Renewable Energy Sources Gain Significance in Electricity

Generation 164

Renewable Energy: Challenges 164

Government Initiatives in Different Latin American Countries 165

Costa Rica 165

Chile 165

Mexico 165

Central America and the Caribbean 165

Solar Energy Market 166

Wind Energy Market 166

Market Scenario 166

Technology Advancements Fuel Wind Power Growth 167

Biomass Market 167

Robust Growth Ahead in Biomass-Based Power Generation 168

5a. BRAZIL 169Renewable Energy Industry - An Overview 169Wind Energy Market 169Biofuel Market Booming in Brazil 169

5b. MEXICO 170

Overview 170

6. REST OF WORLD 171Wind Energy Continues to Expand in MENA Region 171Nigeria 171Algeria 171Renewable Energy Production to Rise 171Table 18: Renewable Power Production Capacity Forecast inAlgeria by Domestic Consumption and Exports (In MW) for theYears 2010, 2015, and 2020 172GLOBAL DIRECTORY

To order this report:Renewable energy Industry: Global Alternative Energy Industry

More Market Research Report

Check our Industry Analysis and Insights

Nicolas Bombourg

Reportlinker

Email: nicolasbombourg@reportlinker.com

US: (805)652-2626

Intl: +1 805-652-2626

SOURCE Reportlinker

Chevron ExtraMile® Launches New Battleship™ Commander Instant Win Game Celebrating Universal Pictures' Battleship™ Movie

Wed, 09 May 2012 15:00:00 +0000

Chevron ExtraMile® Launches New Battleship™ Commander Instant Win Game Celebrating Universal Pictures' Battleship™ Movie

Consumers Can Visit West Coast Chevron ExtraMile Locations for Chances to Win Thousands of Instant Prizes, Including 50 Xbox 360® Consoles with Battleship™ the video game and 2000 $25 Fandango Bucks prizes

PR Newswire

SAN RAMON, Calif., May 9, 2012 /PRNewswire/ -- Chevron ExtraMile today announced its new Battleship™ Commander Instant Win Game in support of Universal Pictures' upcoming Battleship™. Now through June 30, each visitor to participating ExtraMile locations in California, Oregon and Washington can request a game card with a 1 in 10 chance to win instant prizes such as one of 50 Xbox 360® consoles with the new Battleship™ the video game, one of 2000 $25 Fandango Movie Bucks prizes and more.

"We are thrilled to announce the Battleship™ Commander game in celebration of Universal Pictures' Battleship™ movie," said Jeanine Rogers, Chevron ExtraMile brand manager. "Our mission is to evolve the convenience store experience by providing value to franchisees and customers alike. This exclusive Battleship™ promotion is another example of how we're constantly innovating and improving upon our offerings," she added.

To play Chevron ExtraMile's Battleship™ Commander Instant Win Game, consumers visiting participating ExtraMile stores can obtain a game card and peel back the label to reveal if they're an instant winner. In addition to prizes from Xbox and Fandango, winning game cards may reveal thousands of on-site prizes including Johnsonville® Brat and Sausages, Nestle® Crunch and Baby Ruth brand candy bars, Ritz® Crackerfuls® Big Stuff® (from Kraft), Coke Zero® and ExtraMile® Bucks.

The promotion is exclusive to ExtraMile sites only. There is no purchase necessary; consumers can simply visit one of ExtraMile's 540-plus retail locations in California, Oregon or Washington to pick up a game card for a chance to be one of the 1 in 10 instant winners. For more information on the ExtraMile Battleship™ Commander game, visit a participating ExtraMile store.

For more Battleship™ action, the film hits North American theaters on May 18.

About ExtraMile
Since 2007, ExtraMile has set a new standard in convenience store retailing that complements the changing tastes and busy lives of its customers. Today, ExtraMile has more than 540 retail locations throughout California, Oregon and Washington. Tempting food choices, refreshing cold drinks, fresh Seattle's Best Coffee and fantastic values are delivered with a focus on quality and consistency in inviting, clean, efficient and thoughtfully designed locations. Visit www.chevronextramile.com.

About Chevron
Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

About Battleship™
In summer 2012, the battle for Earth begins at sea.

Peter Berg (Hancock, The Kingdom, Friday Night Lights) directs and produces Battleship™, an epic-scale action-adventure that unfolds across the seas, in the skies and over land as our planet fights for survival against a superior force.

Battleship™ stars Taylor Kitsch as Lieutenant Alex Hopper, a naval weapons officer assigned to USS John Paul Jones; Alexander Skarsgard as Hopper's older brother, Stone, Commanding Officer of USS Sampson; global music superstar Rihanna, making her motion-picture debut as Petty Officer Second Class Cora Raikes, Hopper's crewmate and a weapons specialist on USS John Paul Jones; Brooklyn Decker as Sam Shane, Hopper's fiancee and a physical therapist specializing in the rehabilitation of military combat veterans; Tadanobu Asano, as Captain Yugi Nagata, Commanding Officer of the Japanese destroyer Myoko and Hopper's archrival; and Liam Neeson as Hopper and Stone's superior (and Sam's father), Admiral Shane, Commander of the Pacific Fleet.

Inspired by Hasbro's classic naval-combat game, Battleship™ is produced by Brian Goldner and Bennett Schneir of Hasbro (the Transformers and G.I. Joe franchises), Scott Stuber (Safe House, Couples Retreat), Film 44's Sarah Aubrey (The Kingdom), along with Duncan Henderson (Master and Commander: The Far Side of the World, The Perfect Storm). The action-adventure is written by Jon Hoeber & Erich Hoeber (Red). www.battleshipmovie.com

SOURCE Chevron

The Zacks Analyst Blog Highlights: Baker Hughes, Transocean, Diamond Offshore, Patterson-UTI Energy and Helmerich & Payne

Wed, 09 May 2012 13:30:00 +0000

The Zacks Analyst Blog Highlights: Baker Hughes, Transocean, Diamond Offshore, Patterson-UTI Energy and Helmerich & Payne

PR Newswire

CHICAGO, May 9, 2012 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Baker Hughes Inc. (BHI), Transocean Inc. (RIG), Diamond Offshore (DO), Patterson-UTI Energy (PTEN) and Helmerich & Payne (HP).

(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Tuesday's Analyst Blog:

Nat Gas Drilling Hits New 10-Yr Low

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country). This can be attributed to an increase in the tally of oil-directed rigs, partially offset by cutbacks in natural gas rig count.

In particular, the natural gas rig count dropped for the fifteenth time in 17 weeks to touch a new 10-year low, while oil drilling jumped to another 25-year high.

The Baker Hughes rig count, issued since 1944, acts as an important yardstick for drilling contractors such as Transocean Inc. (RIG), Diamond Offshore (DO), Patterson-UTI Energy (PTEN), Helmerich & Payne (HP), etc. in gauging the overall business environment of the oil and gas industry.

Analysis of the Data

Weekly Summary: Rigs engaged in exploration and production in the U.S. totaled 1,965 for the week ended May 4, 2012. This was up by 20 from the previous week's count and represents the sixth increase in the last 12 weeks.

The current nationwide rig count is more than double that of the 6-year low of 876 (in the week ended June 12, 2009) and significantly exceeds the prior-year level of 1,836. It rose to a 22-year high in 2008, peaking at 2,031 in the weeks ending August 29 and September 12.

Rigs engaged in land operations climbed by 21 to 1,899, while offshore drilling was down by 1 to 44 rigs. Meanwhile, inland waters activity remained steady at 22 units.

Natural Gas Rig Count: The natural gas rig count decreased for the fifteenth time in 17 weeks to 606 (a drop of 7 rigs from the previous week). As per the most recent report, the number of gas-directed rigs is at their lowest level since April 5, 2002 and is down more than 35% from its 2011 peak of 936, reached during mid-October.

The current natural gas rig count remains 62% below its all-time high of 1,606 reached in late summer 2008. In the year-ago period, there were 890 active natural gas rigs.

Oil Rig Count: The oil rig count was up by 27 to 1,355. The current tally – the highest since Baker Hughes started breaking up oil and natural gas rig counts in 1987 – is way above the previous year's rig count of 934. It has recovered strongly from a low of 179 in June 2009, rising almost 7.6 times.

Miscellaneous Rig Count: The miscellaneous rig count (primarily drilling for geothermal energy) at 4 remained unchanged from the previous week.

Rig Count by Type: The number of vertical drilling rigs rose by 10 to 573, while the horizontal/directional rig count (encompassing new drilling technology that has the ability to drill and extract gas from dense rock formations, also known as shale formations) was up by 10 at 1,392. In particular, horizontal rig units – that reached an all-time high of 1,185 in January this year – increased by 19 from last week's level to 1,158.

To Conclude

As mentioned above, the natural gas rig count has been falling since the last few weeks, 328 rigs in fact (or 35%) from the recent highs of 934 in October 28.

Is this bullish for natural gas fundamentals? The answer is "no," if we look at the U.S. production and the shift in rig composition.

With horizontal rig count – the technology responsible for the abundant gas drilling in domestic shale basins – currently close to its all-time high, output from these fields remains robust. As a result, gas inventories still remain at elevated levels – up some 50% above the benchmark five-year average levels.

Hamstrung by this huge surplus, natural gas prices have dropped more than 50% from 2011 peak of $4.92 per million Btu (MMBtu) in June to the current level of around $2.35 (referring to spot prices at the Henry Hub, the benchmark supply point in Louisiana). Incidentally, prices hit a 10-year low of $1.82 last month.

To make matters worse, a near-record mild weather across most of the country curbed natural gas demand for heating all winter, leading to an early beginning for the stock-building season. The grossly oversupplied market continues to pressure commodity prices in the backdrop of sustained strong production.

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Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

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SOURCE Zacks Investment Research, Inc.

Frost & Sullivan: Government Incentives and Mandates to Promote Energy Efficiency Trigger Growth in the Global Geothermal Power Market

Wed, 09 May 2012 13:00:00 +0000

Frost & Sullivan: Government Incentives and Mandates to Promote Energy Efficiency Trigger Growth in the Global Geothermal Power Market

PR Newswire

High capacity factor considerably revs up the attraction quotient for geothermal energy

MOUNTAIN VIEW, Calif., May 9, 2012 /PRNewswire-Asia/ -- As governments worldwide are unleashing initiatives to ramp up energy security and independence over the past three years, the global geothermal power markets have experienced high growth. Other factors spearheading expansion in this market are escalating energy prices, volatile fuel costs, and government incentives on renewable energy. Low levelized cost of energy (LCOE) renders the cost of geothermal energy competitive compared to other sources of electricity generation. In most regions, energy from geothermal sources is less expensive than wind, solar and biomass power.

Analysis from Frost & Sullivan's (http://www.energy.frost.com( http://www.frost.com/prod/servlet/svcg.pag/EGEP )) Global Geothermal Power Market research finds that the market earned revenues of more than $1.16 billion in 2010 and estimates this to reach $5.89 billion in 2017.

If you are interested in more information on this research, please send an email to Britni Myers, Corporate Communications, at britni.myers@frost.com, with your full name, company name, job title, telephone number, company email address, company Web site, city, state and country.

"By the end of 2010, there were about 10,902 megawatts (MW) of geothermal installed capacity in the world, and the majority of this capacity was installed in the Asia Pacific (APAC) region and represented almost 41.1 percent of the total market in 2010," said Frost & Sullivan Senior Industry Analyst Georgina Benedetti. "All the regions are expected to grow in the foreseeable future, with some showing stronger growth."

Europe and the rest of the world (ROW) are likely to be the fastest growing regions with a compound annual growth rate (CAGR) of 9.8 percent and 13.3 percent, respectively. In terms of investment, the global geothermal market saw investments totaling $1.16 billion in 2010. Investment is anticipated to grow at a CAGR of 26.1 percent from 2010 to 2017.

In North America, geothermal energy qualifies for inclusion under certain tax programs such as the U.S. Production Tax Credit (PTC) and the Canadian ecoEnergy for Renewable Power Program, and for regional incentives such as Renewable Portfolio Standards (RPS) and accelerated depreciation.

Europe, Germany and Spain, the world leaders in the wind and solar energy markets, have passed feed-in-tariffs for the geothermal energy sector. Other incentives, such as the Geothermal Finance and Awareness in European Regions (GEOFAR) project, are designed to develop and promote financing for geothermal projects as part of the Intelligent Energy Europe (IEE) program.

Although the prospects for the geothermal industry are bright, there are some issues negatively impacting the market. As it is very difficult to identify geothermal resources in a particular area and precise information is not available for most countries, the drilling risk for geothermal plants is high. A suitable area assumed to have hot water of a certain temperature can be drilled only to discover that there is no significant resource, or the resource is not as expected.

"This high risk has discouraged banks and international agencies from investing in geothermal energy at the drilling phase," said Benedetti. "However, some governments and banks are starting to offer drilling insurance risk packages to encourage new investment in geothermal projects."

Apart from this, the high initial cost for geothermal plants compared to other renewable energy sources is another factor restraining market momentum. The average investment cost for a geothermal plant depends on the type of technology installed and the number of wells drilled. In the future, advances in low-grade resources, improvements in drilling techniques, and increases in deployment are expected to significantly reduce the capital and LCOE of geothermal plants.

Global Geothermal Power Market is part of the Energy & Power Systems Growth Partnership Service program, which also includes research in the following markets: North American Residential Solar Power Market, North American Non Residential Solar Power Market, Global Solar Power Markets, and Global Wind Power Markets. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

Global Geothermal Power Market

N926

Contact:

Britni Myers

Corporate Communications – North America

P: 210.477.8481

F: 210.348.1003

E: britni.myers@frost.com

http://www.frost.com

SOURCE　Frost & Sullivan

Frost & Sullivan: Government Incentives and Mandates to Promote Energy Efficiency Trigger Growth in the Global Geothermal Power Market

Wed, 09 May 2012 13:00:00 +0000

Frost & Sullivan: Government Incentives and Mandates to Promote Energy Efficiency Trigger Growth in the Global Geothermal Power Market

PR Newswire

- High capacity factor considerably revs up the attraction quotient for geothermal energy

MOUNTAIN VIEW, California, May 9, 2012 /PRNewswire/ -- As governments worldwide are unleashing initiatives to ramp up energy security and independence over the past three years, the global geothermal power markets have experienced high growth. Other factors spearheading expansion in this market are escalating energy prices, volatile fuel costs, and government incentives on renewable energy. Low levelized cost of energy (LCOE) renders the cost of geothermal energy competitive compared to other sources of electricity generation. In most regions, energy from geothermal sources is less expensive than wind, solar and biomass power.

Analysis from Frost & Sullivan's (http://www.energy.frost.com) Global Geothermal Power Market research finds that the market earned revenues of more than $1.16 billion in 2010 and estimates this to reach $5.89 billion in 2017.

Global Geothermal Power Market is part of the Energy & Power Systems Growth Partnership Service program, which also includes research in the following markets: North American Residential Solar Power Market, North American Non Residential Solar Power Market, Global Solar Power Markets, and Global Wind Power Markets. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

Global Geothermal Power Market
N926

Contact:
Britni Myers
Corporate Communications – North America
P: +1-210-477-8481
F: +1-210-348-1003
E: britni.myers@frost.com

http://www.frost.com

Continental Buys First Stake in a Geothermal Energy Project

Wed, 09 May 2012 13:00:00 +0000

Continental Buys First Stake in a Geothermal Energy Project

PR Newswire

JAKARTA, Indonesia, May 9, 2012 /PRNewswire/ -- Continental Energy Corporation (OTCBB: CPPXF) (the "Company" or "Continental") an emerging international energy company operating in Southeast Asia, today announced that it has purchased a 10% stake in Tawau Green Energy Sdn. Bhd. ("TGE"), a privately held company based in Kota Kinabalu, Sabah, Malaysia.

TGE is a geothermal energy developer. On November 29, 2011, TGE entered into a Renewable Energy Power Purchase Agreement (the "PPA") with Sabah Electricity Sdn. Bhd. ("SESB") to supply a capacity of 30 megawatts of electrical power to SESB's East Coast Sabah power grid. SESB is a utility owned 80% by Tenaga Nasional Berhad, the federally owned electrical generation authority and utility of Malaysia and 20% by the State Government of Sabah. TGE is developing a volcano related geothermal resource known as "Apas Kiri" which is located in southern Sabah near the city of Tawau approximately 100 miles north of Continental's Bengara-II oil and gas PSC in Indonesia.

TGE will build, own and operate the geothermal power plant and expects to construct it at an estimated total cost of 400 Million Malaysian Ringgit ("MYR") (approximately US$ 133 Million). TGE plans to commission the plant by the end of 2014 and when completed, it will be Malaysia's first power plant fired by a geothermal resource.

The PPA provides for a fixed purchase price by SESB of MYR 0.21 per kilowatt hour (approximately US$ 0.07) and a guaranteed off-take of all power the geothermal plant can produce for a fixed term of 21 years from first commercial operation. Over the 21 year life of the PPA, TGE expects to generate about US$ 328 Million in revenues at the PPA price. Additionally, TGE has applied for a Feed-In Tariff incentive from the Malaysian Government which if and when approved, would increase the overall revenue projection.

Further, TGE's Tawau geothermal power project has been registered and validated with the United Nations Framework Convention on Climate Change under its Clean Development Mechanism program and is enabled to earn certified emission reduction ("CER") credits during its first ten years of operations. Each CER may be sold and traded on carbon credit exchanges such as BlueNext at a quoted market price (current spot CER price is euro 3.55 each). When operating at its rated capacity of 30 megawatts, the power plant is expected to reduce CO2 emissions by 282,400 metric tonnes per year and earn the same number of CERs (1 CER = 1 tonne CO2 reduction). Under its agreement with a third party carbon credit solutions provider, TGE will be entitled to 75% of the CER revenue or about euro 750,000 per year at current CER spot prices.

Continental is purchasing its 10% stake in TGE from an existing TGE shareholder (the "Seller"). Pursuant to a share sale and purchase agreement, Continental will make a combination of cash payments on behalf of or directly to TGE in the form of shareholder loans repayable by TGE to the Seller. The payments will include set amounts per month plus other cash payments from time to time over a 12 month period to a cumulative and maximum amount of 6 Million Malaysian Ringgit (approximately US$ 2 Million). Continental's payments are to be administered jointly by Continental and the Seller and utilized solely to provide financing for pre-agreed, front-end geothermal resource development costs incurred by, or on behalf of, TGE. In addition, the share sale and purchase agreement provides Continental with the right to appoint one person to TGE's Board of Directors and the right to designate TGE's Geotechnical Director. Continental's Chief Executive Officer, Richard L. McAdoo has accepted the role of Director and he will also act as TGE's Geotechnical Director for geosciences and geothermal resource exploration, development and exploitation.

Richard McAdoo stated, "This acquisition of a 10% stake in TGE is a milestone event for Continental. It represents that all important, first big-step of our planned expansion into the renewable electrical power generation sector in a high growth region. The countries of Southeast Asia are all aggressively pursuing additional electrical power generation as the solid growth of their economies places unprecedented demand on current electrical generation capacity. As a result, clean, sustainable and renewable energy projects are generating major interest from regional financing sources and are attracting substantial investment incentives from the highest levels of government. The rapid and impressive track record of TGE in bringing the Apas Kiri geothermal project from concept to PPA is an excellent example of one of many attractive business opportunities available to innovative renewable and unconventional energy companies in Southeast Asia. We are extremely pleased to be joining TGE in this business venture and we are confident that our expertise in geological resource evaluation, risk management, and drilling will make a major contribution to TGE's success."

Ramzi Raad, TGE's Managing Director confirmed, "With our PPA in place and other supporting contracts and approvals either in place or in final stages of completion, we are now shifting our corporate focus to implementing development of the Apas Kiri geothermal resource. As a new shareholder, Continental is expected to play a major role in our future success. Continental brings a considerable amount of valuable geological and drilling technical expertise to the table in addition to its financial commitment. Continental's technical expertise and its long track record of oil and gas operating experience in nearby Indonesia is the perfect complement to TGE's proven expertise and experience in electrical power generation in Sabah."

This press release is available on the Company's online investor relations HUB for shareholder questions, comments and discussion. http://agoracom.com/ir/continentalenergy

On behalf of the Company,
Robert V. Rudman
Chief Financial Officer

Investor Relations
http://agoracom.com/ir/continentalenergy

Further Info: www.continentalenergy.com

No securities regulatory authority has either approved or disapproved the contents of this news release.

Forward Looking Statements

Statements in this news release that are not historical are forward looking statements. Forward-looking statements in this news release include: that TGE will build, own and operate a geothermal power plant near Tawau and expects to construct it at an estimated total cost of 400 Million MYR; that the plant will be commissioned by the end of 2014; that the PPA agreement will be complied with and generate about US$ 328 Million in revenues over the term of the PPA agreement; that TGE may get a Feed-In Tariff incentive; that the project will generate carbon credits that can be sold; that we can complete all payments required to earn our interest in the project; that we plan expansion into renewable electrical power generation in high growth regions; and that our expertise in geological resource evaluation, risk management, and drilling will make a major contribution to TGE's success.

Forward-looking statements are subject to risks, uncertainties and factors that include, but are not limited to the nature of major construction projects, which are subject to construction delays, cost overruns and uncertainties of whether a project will work as well as expected or generate revenues as expected; the nature of the carbon credit industry, including changing customer demand, changing regulatory requirements, an immature and unpredictable market for CERs, different regulations across national borders; other risk factors include customer acceptance of our services and products; the impact of competitive services, energy alternatives and pricing; dependence on existing management;, that technology may not work as expected; and general economic conditions. In regards to our company, the following are also risk factors: we may not be able to complete our non-financial contractual obligations; we may not be able to finance our contractual obligations to acquire our interest in the project; we may not be able to finance operations and growth; we may not be able to attract and retain employees and consultants; we face competition from cheaper or more accepted competitors or energy sources; it is not yet assured that TGE and our technology can perform under commercial conditions or that TGE or we can keep control on costs. Substantial revenues, including sales of electricity, heat and CERs does not necessarily mean that our company will be profitable. In addition our company faces political risks in the regions where we operate. Readers should also refer to the risk disclosures outlined in disclosure documents filed by other early stage energy and environmental companies with the Securities and Exchange Commission available at www.sec.gov.

The Company assumes no obligation to update the information in this release.

SOURCE Continental Energy Corporation

Frost & Sullivan: Government Incentives and Mandates to Promote Energy Efficiency Trigger Growth in the Global Geothermal Power Market

Wed, 09 May 2012 13:00:00 +0000

Frost & Sullivan: Government Incentives and Mandates to Promote Energy Efficiency Trigger Growth in the Global Geothermal Power Market

High capacity factor considerably revs up the attraction quotient for geothermal energy

PR Newswire

MOUNTAIN VIEW, Calif., May 9, 2012 /PRNewswire/ -- As governments worldwide are unleashing initiatives to ramp up energy security and independence over the past three years, the global geothermal power markets have experienced high growth. Other factors spearheading expansion in this market are escalating energy prices, volatile fuel costs, and government incentives on renewable energy. Low levelized cost of energy (LCOE) renders the cost of geothermal energy competitive compared to other sources of electricity generation. In most regions, energy from geothermal sources is less expensive than wind, solar and biomass power.

Global Geothermal Power Market
N926

Contact:
Britni Myers
Corporate Communications – North America
P: 210.477.8481
F: 210.348.1003
E: britni.myers@frost.com

http://www.frost.com

SOURCE Frost & Sullivan

San Diego-based Affordable Developer Community HousingWorks to Install Revolutionary Geo-Powered Heating-Cooling System in Escondido, California

Mon, 07 May 2012 07:13:58 +0000

Revolutionary green energy technology developed in Japan is coming to the U.S., with the first installation slated for Southern California

SAN DIEGO, CA, May 07, 2012 /24-7PressRelease/ -- On May 7, San Diego-based affordable housing agency Community HousingWorks (www.chworks.org) will break ground on the 1,580-square-foot El Norte apartment community center of its new 36-unit affordable housing complex. The community center features a unique HVAC system using renewable energy, pioneered by Japanese firm Geo-Power System Co., Ltd.

The Geo-Power System utilizes a different approach to heat and cool building interiors.

Rather than capturing the sun's rays directly through solar collectors, the Geo-Power air exchanger system taps the energy already absorbed by the earth below the ground's surface.

"We may be able to totally eliminate the use of air conditioning in the summer months, and achieve significant savings in our heating bill in the winter months," says Sue Reynolds, CEO of Community HousingWorks. "It's a completely new approach to heating and cooling."

In Japan, the system been installed in more than 1,000 homes and more than 100 commercial and industrial facilities. Vista-based contractor Sun Country Builders Inc. is installing the system for CHW.

"We're proud to be on the team that will provide the first geo thermal system of this kind in the US," says John Ahlswede, President of Sun Country Builders. "Once again, CHW is ahead of the curve in sustainable building practices."

The Geo-Power installation features four 25-foot long pipes buried vertically several meters into the ground. Using enclosed air, the pipes transfer the surrounding ambient energy to an 870-square-foot bed of rubble built into the foundation of the community center.

There the heat energy can be used immediately or stored for later use, allowing it to work day or night. "The key was to change traditional thinking, and thus slash construction costs," says Reynolds. "The system is especially effective for commercial buildings due to the economies of scale."

Construction of the community center, including the geothermal exchanger, will take about a year to complete.

Geo-Power System Co. Ltd., which invented the technology, is donating the components, with Community HousingWorks covering the costs of installation with funds from a Federal Home Loan Bank Affordable Housing Program award received with the help of Torrey Pines Bank and a grant from the LISC/Kendeda Fund.

"We expect to experience a 70 percent savings in the center's cooling and heating bill," added Reynolds. "Under normal circumstances a system this size would pay for itself in about 10 years."

Riverforest Corp., headquartered in Escondido, represents Geo-Power System Co. Ltd., for installations in the US. Joe Morikawa, who heads Riverforest, estimates a typical US home (2,500 square feet) would require a system costing $25,000, which is much lower than costs for a comparable solar installation.

"It is very important to develop alternative energy sources for our future," says Morikawa "and saving energy is always extremely beneficial for us regardless of the energy source. The Geo-Power system also provides fresh, clean air 24 hours a day, seven days a week, ensuring healthy and comfortable living,"

"Say goodbye to opening windows to eliminate stagnant, bad air," he declares.

About Community HousingWorks

Community HousingWorks (CHW) is a 30-year old San Diego based non-profit organization that provides a full range of housing options combined with training and support to help people and neighborhoods move up in the world. CHW is a nationally recognized leader in developing sustainable affordable housing and in innovative green design and technologies. The organization builds and owns beautiful affordable apartments, and provides unique first-time homebuyer loans, products and services. They are San Diego county's only provider of non-profit realty services. CHW's community programs help thousands of children and adults build a better future each year. CHW is San Diego County's only member of the national NeighborWorks Network(R) , and a proud affiliate of the National Council of La Raza.

DETAILS:

WHO: Community HousingWorks in San Diego joins forces with Geo-Power Systems Co. Ltd. in Escondido to install a new green energy technology, the first ever use of this technology in the U.S.

WHAT: Installation of a new heating/air conditioning system using energy from the shallow underground at the new El Norte Apartments community center in Escondido.

WHERE: 221 East El Norte Parkway, Escondido, CA, 92026.

WHEN: 12 - 1 pm, May 17, 2012.

WHY: The Geo-Power System adds another option to utilize the sun's energy in the fast-growing green energy sector of the economy.

For additional information, contact:

ROB WEINBERG

rob@marketbuilding.com

858-673-9960

Tom York Public Relations specializes in media relations. For more information, please contact Principal Tom York at tom@yorkpr.com.

---

Press release service and press release distribution provided by http://www.24-7pressrelease.com

Green Living: Asbury Place Taps Into Geothermal Energy

Thu, 03 May 2012 12:10:00 +0000

Green Living: Asbury Place Taps Into Geothermal Energy

PR Newswire

MARYVILLE, Tenn., May 3, 2012 /PRNewswire/ -- With its rolling hills and putting greens, Asbury Place in Maryville is surrounded by the color of nature. Now, the continuing care retirement community is going green below the water surface by utilizing geothermal energy in its new apartment complex.

The environmentally friendly heating and cooling system will supply energy to one side of a cottage duplex, a new residential option on the retirement community campus in Blount County. The system uses a network of underwater pipes installed in the campus lake, St. Clair Lake, that capitalize on the water temperature (as warmed by the sun) to provide heating in the winter and uses the water as a heat sink to cool in the summer.

Bernie Bowman, Asbury's Vice President of Business Development, said tapping into renewable energy has many benefits for the community.

"We are using the geothermal system for one half of the duplex, with the other half using a conventional heating and cooling system. This will provide very accurate comparisons of the utility savings," he said.

By not burning fossil fuels to generate heat, geothermal energy leads to a cost savings for the consumer and a reduction in carbon footprint for the environment, said Gordy Noe, president of Pioneer Heating and Air Conditioning. "While as a not-for-profit Asbury cannot take advantage of tax savings, it will benefit in lower utility costs and in lower upkeep costs over time."

This cottage duplex is being constructed along with the St. Clair Apartment homes complex, a 36-unit, $12 million project to be completed by August 2012. The cottage duplex is a 1,620-square-foot unit with two bedrooms, plus a den. The St. Clair buildings offer one-, two- and two-bedroom-with-den floor plans. Along with these new residential living options, the Asbury Place Maryville campus has already completed a new clubhouse with a wellness center and bistro.

Founded in 1956, Asbury, Inc. manages a network of not-for-profit retirement communities and health care centers for individuals 55 or better in Maryville, Kingsport, and Johnson City, Tennessee. With a not-for-profit mission of "Senior Communities providing security and freedom with compassion," Asbury has renovation and expansion projects underway at all of its campuses, positioning it to provide for the rapid growth of the aging population expected over the next several years.

For further information, please visit http://www.AsburyPlace.org or call (865) 238-8301.

CONTACT:

Chuck Morris
Morris Creative Group LLC
865-637-9869

This press release was issued through eReleases(R). For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE Asbury, Inc.