posted
Still gapping, premarket buys coming in. This is going to be a VERY interesting day. Could really run hard.
Posts: 871 | From: New York, NY | Registered: May 2005
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NEWS!!!!!!!!!!!!!>>>Laidlaw Energy New York Biomass Project Receives RPS Qualification from Massachusetts Division of Energy Wednesday December 27, 9:45 am ET
NEW YORK--(BUSINESS WIRE)--Laidlaw Energy Group, Inc. (OTC: LLEG - News) announced today that it has received a Statement of Qualification from the Massachusetts Division of Energy Resources ("DOER"), qualifying its Ellicottville, New York biomass energy project as eligible to sell Renewable Energy Credits ("RECs") in Massachusetts. RECs trade separately from a power plant's physical electric output, generating a separate source of revenue, and represent the premium that is paid to renewable generators by retail energy suppliers in order to demonstrate compliance with state-mandated renewable energy targets. ADVERTISEMENT
In rendering its decision, DOER determined that the Wellons biomass energy system being installed by Laidlaw Energy in connection with the Ellicottville project qualifies as "advanced, lower emission, power conversion technology." Massachusetts has some of the most stringent requirements for renewable generator eligibility in the country, as well as some of the most favorable REC prices. It is expected that Laidlaw Energy's Ellicottville project will now set the standard in Massachusetts for biomass projects under 10 megawatts seeking eligibility.
Commenting on DOER's decision, Laidlaw Energy President & CEO Michael B. Bartoszek stated "We are extremely pleased with DOER's decision. The ability for the Ellicottville facility to sell RECs in Massachusetts, in addition to New York, gives us a much larger market and the opportunity for significant additional revenue if prices remain high in Massachusetts due to the renewable energy supply/demand imbalance."
Laidlaw Energy's Ellicottville, New York project involves the conversion of a natural gas fired power plant to utilize 100% clean woody biomass as its fuel source. It is the only power plant in the Buffalo, New York area that is specifically designed to utilize woody biomass fuel. The project will create numerous economic benefits for the area and help improve air quality in the region by eliminating the production of greenhouse gas emissions known to effect climate change.
About Laidlaw Energy Group - Cleaner Energy For a Greener Future
Laidlaw Energy Group (LLEG) is engaged in the development of independent power plants that generate electricity from renewable resources. LLEG's mission is to build and manage a profitable portfolio of renewable energy facilities through the development of new facilities and acquisition of existing facilities. LLEG is headquartered in New York, New York. For more information on LLEG, please visit our websites at www.NYENRG.com and www.greenenergyfacts.com.Posts: 871 | From: New York, NY | Registered: May 2005
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posted
laidlow is actually a pretty big energy company here in colorado. I bought in today ancticipating this going to penny status very soon.
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
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posted
Rumours of another contract PR, this one with Connecticut, could really bring this to .01 +
Posts: 871 | From: New York, NY | Registered: May 2005
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posted
cannot wait to see some nice profit that this will bring. I had a feeling about this one a few weeks ago and should have taken action then.
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
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posted
Gapping this morning. Record volume yesterday should lead into new investors today. GLTA.
Posts: 871 | From: New York, NY | Registered: May 2005
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Laidlaw Energy New York Biomass Project Planning To Monetize Federal Renewable Energy Tax Credits Business Wire - January 03, 2007 09:15
NEW YORK, Jan 03, 2007 (BUSINESS WIRE) -- Laidlaw Energy Group, Inc. (OTC: LLEG) announced today that it is planning the sale of the Federal Renewable Energy Production Tax Credits ("PTCs") to be generated by its New York biomass energy project. Laidlaw Energy has received expressions of interest from several major financial institutions seeking to enter into a transaction for the purchase of the PTCs.
The PTCs are currently equal to $.01 per kilowatt hour for renewable energy generated from open loop biomass facilities such as Laidlaw Energy's New York facility, with the amount of the credit adjusted annually for inflation. Congress recently extended the date by which qualifying renewable energy facilities must be placed in service in order to qualify for the PTC to December 31, 2008. Laidlaw Energy's New York facility is expected to commence operations in 2007 and to generate approximately 50 million kilowatt hours per annum. PTCs are generated during the first ten years of operations, putting the total projected value of the PTCs for the New York facility at $5,000,000.
Laidlaw Energy recently received qualification for its New York facility from the Massachusetts Division of Energy Resources, qualifying the facility as eligible to sell Renewable Energy Credits ("RECs") in Massachusetts. The facility is also expected to qualify to sell RECs in New York. The anticipated sale of the PTCs is expected to create an additional source of revenue for the facility, in addition to energy and REC sales, as well as revenue from hardwood lumber drying.
Laidlaw Energy's New York project involves the conversion of a natural gas fired power plant to utilize 100% clean wood biomass chips as its fuel source. It is the only power plant in the Buffalo, New York area that is specifically designed to utilize wood biomass fuel. The project will create numerous economic benefits for the area and help improve air quality in the region by eliminating the production of greenhouse gas emissions known to effect climate change.
About Laidlaw Energy Group - Cleaner Energy For a Greener Future
Laidlaw Energy Group (LLEG) is engaged in the development of independent power plants that generate electricity from renewable resources. LLEG's mission is to build and manage a profitable portfolio of renewable energy facilities through the development of new facilities and acquisition of existing facilities. LLEG is headquartered in New York, New York. For more information on LLEG, please visit our websites at www.NYENRG.com and www.greenenergyfacts.com.
This communication contains statements expressing expectations of future events and/or results which may include, without limitation, statements concerning anticipated financial performance, business prospects, technological developments, transactions, potential markets, new products, research and development activities and similar matters. Such statements constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. All statements based on future expectations rather than historical facts are forward-looking statements that involve a number of risks and uncertainties, and LLEG cannot provide assurance that such statements will prove to be correct. LLEG undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE: Laidlaw Energy Group, Inc.
Laidlaw Energy Group, Inc. Michael B. Bartoszek, 212-480-9884 info*LaidlawEnergy.com
Copyright Business Wire 2007
Posts: 871 | From: New York, NY | Registered: May 2005
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0.0041 260000 OTO 16:08:58 0.0041 7765000 OTO 16:06:58 0.0038 10000 OTO 15:53:33 0.0038 100000 OTO 15:50:27 0.0038 200000 OTO 15:50:25 0.0038 50000 OTO 15:50:14
-------------------- who says you cant trade stocks at 17!!? Posts: 288 | From: Wisconsin | Registered: Apr 2006
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posted
Laidlaw Energy Group, Inc. Issues Update to Shareholders BusinessWire - January 08, 2007 9:45 AM ET
Related Quotes Symbol Last Chg LLEG Trade 0.0025 -0.0001 Quotes delayed at least 15 minutes
Laidlaw Energy Group, Inc. (OTC: LLEG) President & CEO, Michael B. Bartoszek, issued today the following update to the shareholders of Laidlaw Energy:
Dear Shareholders:
I firmly believe that success in business requires the three "Ps", persistence, patience and perspiration. These qualities are especially important when engaged in the development of major capital projects like power plants.
The time frame from the start of development of a power plant until the commencement of commercial operations can be two or three years. During that time, it is not unlikely to encounter significant obstacles. Even companies like ours, that are engaged in the development of renewable energy projects face, face numerous hurdles.
Since we commenced development of our New York biomass energy project in mid-2004, we have faced and overcome a number of challenges.
-- Early in the project we had to compete against hundreds of other applicants in order to obtain grant financing to help fund the development of the project. We rose to the challenge and obtained $1 million dollars of grant funding from the New York State Energy Research and Development Authority.
-- Next we had to find a way to keep the capital costs of the project down in order to make the project economically viable. We responded by incorporating refurbished equipment into the project at a fraction of the price of new equipment. We scoured the country and were able to locate just the right boiler and turbine, in excellent condition, and at highly favorable prices.
-- The next challenge we had was to make sure we had sufficient funding to complete the project and, once again, we succeeded by not only obtaining the funding we needed, but also by forming a great strategic relationship with a major international power developer and the owner of the largest utility in the Dominican Republic.
-- Recently, we were faced with the challenge of having to find a way to generate cash flow from the sale of the project's renewable attributes, also known as "RECs". RECs trade separately from a power plant's physical electric output, generating a separate source of revenue, and represent the premium that is paid to renewable generators by retail energy suppliers in order to demonstrate compliance with state-mandated renewable energy targets. Although New York has passed renewable energy legislation, it is in the early stages of implementing its renewable program and a market has not yet developed for RECs. Faced with this challenge, we were able to obtain approval from the state of Massachusetts for the sale of our RECs in that market, thus enabling us to generate cash flow from the sale of our RECs while the New York market is established. Massachusetts has some of the most stringent requirements for biomass generators in the country, as well as the most favorable market for RECs.
-- Additionally, after a thorough review, we have also obtained the requisite modification of the New York facility's Title V air permit. This required the approval of both the US EPA and the State of New York, in order to allow for the construction and operation of the proposed biomass energy facility.
These are just a few of the challenges we have faced and overcome as a result of our hard work, patience and unrelenting persistence. The only remaining hurdle we need to overcome in order to make the necessary upgrades to the facility and commence operations using biomass fuel, is to obtain local planning board approval. We are nearing the end of this process and expect a decision in the near future. Planning boards in New York, influenced by local politics and NIMBYism, have been known to try to delay decisions on matters such as ours for as long as possible. Whether it is another three weeks or three months, a decision is imminent and we are well within our rights to make the proposed upgrades at our existing, permitted facility. Just as we have consistently done in the past, we will persist until we overcome this obstacle as well.
In the meantime, we continue to pursue additional grant funding and structure transactions that we expect will improve the overall enterprise value of the project, as well as the potential future cash flows. We also continue to diligently pursue the other development opportunities that we have in the pipeline and hope to provide an update on these in the near future.
Sincerely,
Michael B. Bartoszek President & CEO
Posts: 871 | From: New York, NY | Registered: May 2005
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