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Enviro-Events Calendar
November 20, 2008
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Enviro-Business News…
Who's coming and going,
expanding and folding in environmental professions,
businesses, industries and associations in New Jersey, Pennsylvania and
beyond
EPA oil
spill prevention, control, and countermeasure rule gains new amendments
New
amendments to the SPCC rule will clarify regulatory requirements, tailor
requirements to particular
industry sectors, and streamline certain requirements for facility
owners or operators subject to the
rule. With these changes, EPA expects to encourage greater compliance
with the SPCC regulations,
thus resulting in increased protection of human health and the
environment.
Information about the
SPCC Rule can be found at:
http://www.epa.gov/oilspill. 11/20/08
PA, NJ. among least competitive states, think tank says
Pennsylvania and New Jersey are
among the least competitive states in the country when it comes to
attracting and keeping businesses, according to a report released
Wednesday. The eighth annual competitiveness report from the Beacon
Hill Institute, a free-market think tank based at Suffolk University in
Boston, ranked Pennsylvania 39th
out of the 50 U.S. states and New Jersey 42nd. Delaware was ranked 19th.
Massachusetts came in
at the top of the list, while Mississippi was 50th. Researchers
preparing the study looked at areas
such as security, government and fiscal policy, environmental policy,
human resources, technology
and “business incubation.” Pennsylvania ranked near the middle or bottom
in most areas, but fared
well in the technology category, which included such factors as academic
research and development,
and National Institutes of Health support. New Jersey’s strengths,
according to the report, included
percentage of high tech jobs, venture capital foreign investment. It
ranked last in carbon emissions
per 1,000 square miles and state and local taxes, and near the bottom in
housing costs and electricity
prices. Delaware ranked first in business incubation and bank deposits
per capita, and near the top
in scientists and engineers as a percentage of the labor force. It got
low grades for carbon emissions
per 1,000 square miles (46th) and air quality index (49th). A
separate report says the region's states
are among the best at transitioning to the New Economy
Philadelphia Business Journal 11/20/08
Converted Organics announces tactical relationship
with Action Carting of Newark, NJ
Converted Organics Inc.
today
announced today that the company and leading waste management
firm Action Carting of Newark, N.J. have agreed to work together in
the collection, processing and conversion of food waste from Action
Carting's food service clients. "Action Carting of Newark, N.J.
is a leader in the food waste collection industry in New York City.
Our clients want to do what is right by the environment, but it has to
be cost-effective. Our relationship with Converted Organics is a great
step in that direction. Their disposal facility in Woodbridge, N.J. is
very well located and offers services beneficial to Action and our
customers," said John Glauda of Action Carting. "We are focused on
food waste recycling and the Converted Organics' facility will help us
grow our customer base and improve service to existing clients. Given
the price of fuel, the Metro New York City location, which allows us
to better utilize our trucks, and a competitive tip fee, we are very
happy with this long-term relationship with Converted Organics."
Action Carting is the fastest growing, most innovative provider of
non-hazardous waste management services for the city of New York,
catering to a diverse range of industrial and commercial customers,
including restaurants, medical facilities, building contractors,
investment banks and most every other business in the city. From
collection and recycling, to composting and disposal, Action Carting
provides a comprehensive selection of environmentally responsible
service offerings. Converted Organics, based in Boston, is dedicated
to producing valuable all-natural, organic soil amendment or
fertilizer products through food waste recycling. The company uses
proven, state-of-the-art technologies to create a product that helps
grow healthier food and improve environmental quality. Converted
Organics plans to sell and distribute its environmentally-friendly
fertilizer products in the retail, turf management, and agribusiness
markets. 11/20/08
2009 Rutgers Environmental Steward Program
Are you concerned about the environment? Would you like to improve the
environment in your community but can't find a meaningful way to do
that? Consider joining the Rutgers Cooperative Research & Extension's
Environmental Steward training. This training is currently being
offered in Atlantic, Essex, Somerset and Burlington counties, from
January to June in 2009. The curriculum of the Environmental Steward
Training is designed to introduce non-scientists to the science
underlying key environmental issues in the Garden State. Leading
authorities from academia are joined by colleagues from government and
the non-profit sector to share understanding and insights with the
students.
The Environmental Steward Training is based on the existing model of the
award-winning Master Gardener Program. Similarly to the Master Gardener
Program, students must pledge to intern for 60 hours of volunteer
service following the completion of the lecture portion of the course.
Upon completion of the training and internship, certificates will be
awarded to the students designating them Certified Rutgers Environmental
Stewards.
Recruitment has begun for the Rutgers Environmental Steward Class of
2009. To learn
how you can become a Rutgers Environmental Steward contact the
appropriate coordinator for your region.
Essex/Metro: Training Location: Essex County Environmental
Center, Roseland, NJ Normal Class Time: Thursdays, January to May, 2008;
10:30 to 2:00 pm. Cost: $250 Contact: Jan Zientek,
Zientek@rce.rutgers.edu ,
Program Coordinator, Rutgers Cooperative Extension of Essex County,
621-A Eagle Rock Ave., Roseland, NJ 07068, (973) 228-2210
Central/Duke: Training Location: Duke Farms, Hillsborough, NJ Normal
Class Time: Tuesdays, January to May, 2008; 9:30 am to 12:30 pm. Cost:
$325 Contact: Rosalie Kelly,
rkelly@ddcf.org , Duke Farms Foundation, 80 Route 206, Hillsborough,
New Jersey 08844 (908) 243-3606. Delaware Region: Training
Location: Rutgers EcoComplex, Columbus, NJ Normal Class Time: Fridays,
January to May, 2008; 9:30 am to 12:30pm. Cost: $250 Contact: Laurie
Magee,
lmagee@aesop.rutgers.edu , Rutgers EcoComplex, 1200
Florence-Columbus Rd., Bordentown, New Jersey 08505-4200, (609) 499-3600
ext 221. Coastal Region: Training Location: Atlantic County
Utility Authority, 6700 Delilah Road , Egg Harbor Twp NJ Normal Class
Time: Wednesdays, 9:30 am to 12:30 pm. Cost: $250 Contact: Amy Menzel,
amenzel@acua.com , PO Box 996
Pleasantville, NJ 08232, 609.272.6950 ext 6934. More information
including application forms and the current schedule for lectures can be
found on
here. 11/20/08
Aluminum Association announces new
leadership The
Aluminum Association continues its
75th year celebration by announcing new leadership changes
within its Associate Member Committee. The Association has announced
new Associate Member Committee Chairman, David Pownall and
Vice Chairman, Jeff Lawrence. Pownall is Sales Director of J. McIntyre
Machinery Limited based in Nottingham, United Kingdom. The
international company specializes in manufacturing TARDIS Dross Press
and Cooling System for the processing of hot aluminum dross. Lawrence is
the North America Sales Manager for Houghton International Inc., based
in Valley Forge, Pennsylvania. The company specializes
in the production of superbly engineered lubricants for the metalworking
and primary
metals industries.
Associate Membership plays a vital role in The Aluminum Association.
Associate Members include any organization or entity that is a supplier
of goods or services to the North American aluminum industry. The
Aluminum Association, based in Arlington, Virginia, works globally to
aggressively promote aluminum as the most sustainable and recyclable
automotive, packaging and construction material in today’s market. The
Association represents U.S. and foreign-based primary producers of
aluminum, aluminum recyclers and producers of fabricated products, as
well as industry suppliers. Member companies operate more than 200
plants in the United States, with many conducting business worldwide. 11/20/08
Aluminum industry sets new 75% recycling goal
The
Aluminum Association today announced an industry wide effort to increase
the industry’s recycling rate for used aluminum beverage containers
to 75% by 2015. Today, the aluminum industry recovers approximately 54%
of the aluminum containers produced in the U.S. While aluminum cans are
already the most widely recycled beverage container in the country, each
year Americans still discard over 50 billion aluminum cans which end
up in landfills. The association notes that every can that is recovered
is turned back into a new beverage can, saving energy, reducing
greenhouse gas emissions and decreasing the use of
natural resources. According to the association, rising the recycling
rate of aluminum cans to 75% would: result in an energy savings of 139.7
million MBTUs in avoided energy, and result in the avoidance of nearly 9
million tons of greenhouse gases, which is equivalent to removing more
than
1.6 million cars from the road over a year 11/20/2008
Conservation Resources announces small grant
awards for NJ conservation projects
Conservation Resources Inc. (CRI) announced its third annual Franklin
Parker Small Grants awards to non-profit conservation organizations,
with 2008 grant awards totaling $85,000. "This grant program
continues
to illustrate how relatively small amounts of money can make a big
difference for conservation." said Michael Catania, President of
Conservation Resources Inc., headquartered in Chester, NJ.
CRI’s Small
Grants program provides seed money to non-profits for the initiation of
land preservation projects, to help cover certain costs which are not
otherwise reimbursed by other existing grant programs, and to provide
matching funds to support non-profit land stewardship and ecological
restoration projects. Funding for these small grants has been provided
to CRI by the William Penn Foundation, the Geraldine R. Dodge
Foundation, the Victoria Foundation, the Tiffany & Co. Foundation, the
Mary Reinhart Stackhouse Foundation, as well as by individual donors.
The 28 different projects funded in the 2008 Franklin Parker Small
Grants Program include 7 land preservation projects, 14 ecological
restoration projects, and 9 other capital conservation projects located
throughout the Garden State. "We continue to be impressed and heartened
by the amount of conservation work being conducted by small and
medium-sized non-profit organizations in New Jersey. We are happy that
we are able to provide some critical resources for these projects" said
Catania. Conservation Resources Inc (CRI) is a statewide
non-profit conservation finance intermediary. The mission of CRI is to
increase the capacity, expertise and technical and financial resources
available to private and public conservation organizations in order
to maximize the preservation of open space and farmland in the Garden
State. 11/19/08
LEED for Neighborhood Development 2009 open
for public comment USGBC is pleased
to invite the public to comment on the LEED for Neighborhood Development
Rating System, which integrates the principles of smart growth, new
urbanism and green building into the first national system for
neighborhood design. The program is a collaborative effort between
USGBC, the
Congress for the New Urbanism, and the Natural Resources Defense
Council. This rating system is built upon the LEED for Neighborhood
Development Pilot Rating System, which nearly 240 projects have been
using since July 2007 as part of a successful pilot program.
Eighteen projects have been certified. Their invaluable
feedback, combined with countless hours of USGBC volunteer time, has
produced a more sophisticated, market-responsive rating system. Any
member of the public may submit comments. To view the rating system
draft and comment, please go the
LEED Rating System Drafts webpage. The public comment period will be
open from November 17th through January 5, 2009 at 11:59 PST.
For more information about the LEED for Neighborhood
Development program please visit the
U.S. Green Building
Council 11/19/08
Finch Paper lays
off 44 employees
Finch Paper LLC,
a paper mill in Glens Falls, has laid off
44 workers over the past two weeks in response to a souring economy.
Finch Paper, which makes papers used for direct mailing, marketing and
catalogs, now employs 800 full-time workers at its Glens Falls, NY
headquarters. Customers of the privately held company have decreased
orders, leading the company to cut production and staff, said company
spokesman John Brodt Jr. "Most definitely, this is market driven,” Brodt
said. “There’s a slump in paper demand across the country, and we’re
certainly not immune from that.”
Brodt described the layoffs as temporary, and added that further cuts,
or hires, would be based on the rise and fall of orders
The Business Review 11/19/08
Sunoco Logistics buys MagTex pipeline system
Sunoco Logistics
Partners LP said Tuesday it has
completed its acquisition of the MagTex refined products pipeline system
from affiliates of Exxon Mobil Corp. The
Philadelphia-based partnership agreed to pay $175M for the system, which
is in Texas, in April. Sunoco Logistics said the terms of the original
purchase agreements were amended to provide for potential adjustments,
based on the volume of products the system actually handles, to the
purchase price, the rate it charges pipeline users, and commitments made
by Exxon Mobil to transporting its products through the pipeline.
Philadelphia Business Journal 11/19/08
NRG Energy’s President urges Congress to
enact climate legislation mow
David Crane, President and CEO of Princeton, NJ-based NRG Energy, Inc.
today joined some other members of the United States Climate Action
Partnership (USCAP) in Washington, DC, to urge federal support for
cap-and-trade legislation. “Over the past 100 years, American capitalism
has been the most powerful, creative and dynamic force on earth. That
force now needs to be channeled to confront climate change which, in
turn, requires government action in a language that American business
understands,” said Crane. “That language is price. Without a price on
carbon, carbon abatement will not happen.” According to Crane, the
United States is at a very sensitive point. “America’s entrepreneurs
currently lead the world in developing and innovating carbon abatement
products and processes, but this
work has been done in anticipation of climate legislation. Actual
demonstration, at scale,
of the best of these technological innovations—and deployment en
masse—depends upon actual climate legislation,” he explained. Through
large-scale demonstration projects and its own deployment of key
low-carbon technologies, NRG is working to bring leadership and
commercial success to the United States. In 2007, the Company became the
first in nearly 30 years to file for a license to build new nuclear
generation in the United States, at its South Texas Project location.
Earlier this year, NRG formed Nuclear Innovation North America, a
partnership with Toshiba, focused on developing, financing and investing
in new advanced design nuclear projects in select markets across North
America. In addition to the Company’s nuclear efforts, NRG continues to
focus on developing and deploying other low-carbon technologies, such as
gasification and carbon capture and sequestration,
to utilize vast resources of coal in an environmentally responsible way.
Additionally, the Company has pursued multiple wind power investments
including a 50% interest in a wind farm completed in October, and a
second, wholly owned, wind project which is expected to be online by
year end.
Crane believes these kinds of actions, even at a hundred companies, are
not enough – and will soon fade in the absence of federal action.
NRG 11/18/08
New EPA rule
designed to improve
environmental performance of academic labs
EPA has finalized the
Academic Laboratory rule to help improve the environmental performance
of teaching and research laboratories owned by eligible academic
entities. This agency says the rule provides increased regulatory
flexibility, while enhancing safe management of hazardous waste.
Eligible academic entities include colleges and universities, and
teaching hospitals and nonprofit research institutes that are either
owned by or formally affiliated with a college or university
EPA 11/18/08
New Jersey Resources Q4 profit
surges; raises dividend
New Jersey Resources Corp. reported a surge in its fourth-quarter net
income, helped by unrealized gain on derivative instruments.
In addition, the company raised its quarterly dividend by 10.7% and
provided fiscal 2009 guidance.
New Jersey's fourth-quarter net income surged to $78.78M or $1.86 per
share from $2.5M or $0.06 per share in the prior year. The
recent-quarter results included an unrealized gain on derivative
instruments, net of taxes, of $87.31M, compared to $18.94M a year ago.
RTT News 11/13/08
Environmental Liability Management, Inc opens new office in Pennsylvania
Princeton, NJ-based
Environmental Liability Management, Inc (ELM) announces it has
opened a new office in Lehigh Valley Industrial Park IV at 2475 Baglyos
Circle, Bethlehem, Pa. 18020. The office will act as a base of
operations in the area for ELM, including it’s operating division
Environmental Planning Consultants (EPC). Joseph R. Fallon, ELM's
president, said: “It was important for us to establish a presence in the
Lehigh Valley as we see the area as one of rapid growth, including
redevelopment of older industrial properties”. He added that “Given the
hard economic times, we also see clients looking for more cost effective
solutions to environmental concerns, so ELM services are in greater
demand.” ELM is an award winning environmental engineering, consulting
and risk management firm that specializes in conducting environmental
due diligence, site investigations and remediation, along with
Brownfields redevelopment, and project management services for complex
environmental issues associated with hazardous substance discharges.
The firm also provides permitting and compliance/monitoring services for
ongoing industrial and commercial operations. ELM currently employs a
staff of 60 and is headquartered in Princeton New Jersey, with offices
in New York City, Boonton NJ, Holicong PA and the new office location in
Bethlehem PA. The company maintains an operating division doing
business as Environmental Planning Consultants (EPC) for natural
resource inventories, land use management and planning, ecological
assessments and project permitting. 11/12/08
Exelon Launches Exchange Offer For NRG Energy;
Expires Jan. 6
Exelon Corp.
went directly to
NRG Energy Inc. shareholders
Wednesday in its bid for the power generator, starting a share exchange
offer that will expire in January. Chicago-based
Exelon said Tuesday it would
go to shareholders on its
$6.2 billion unsolicited offer, which the
Princeton, N.J., company rejected on Sunday.
Exelon also is suing NRG and
its directors, alleging they didn't give due consideration to the bid.
Exelon said the exchange offer will
expire at
5 p.m. EST on
Jan. 6, 2009.
CNN Money 11/12/08
New Jersey environmental consultant helps businesses
see green
In more ways than one, Wayne DeFeo is
sorting through the mess. As the founder and principal of DeFeo
Associates, an
environmental
consulting group, DeFeo helps government officials, private companies
and the public cut through intricate laws as his clients strive for
energy efficiency, better recycling programs or similar earth-friendly
efforts. "I try
to take complex items, regulations in this case, and make them come
across in such a way that you can understand them," DeFeo said in
a recent interview. With degrees in biology and environmental studies, a
teaching license and more than 25 years of experience in the field,
DeFeo has experienced environmental issues from all sides. He's served
as Somerset County's recycling coordinator, the deputy director of solid
waste for the state Board of
Public Utilities and a regional manager for the National Solid Wastes
Management Association, among other high-ranking positions. Since going
solo in 1995, DeFeo has used his skills and connections to build a
network of affiliates - engineers, public relations specialists, public
works experts - who help him complete the work he can't finish himself.
"If I don't exactly know the details, I know someone who does," said
DeFeo, 50. "And the
trick is to retain the people I need to retain." In addition to
promoting a stable of willing professionals, DeFeo also markets his
company as one that understands the delicate balance of going green and
still seeing green from investments. DeFeo said corporations, especially
large ones, can run the risk
of being sued if their emissions are disproportionately high or
jeopardize public health. Therefore, he
said businesses are scrambling to offset that potential risk.
Click for more 11/7/08
Ocean Power Technologies wins new $3 million contract
from US Navy
Pennington, NJ-based Ocean Power
Technologies (OPT) will participate in the second phase of the
Navy's Deep
Water Active Detection Systems program, which is designed to utilize
sophisticated data gathering and communications systems. The advanced
technology program has prospective applications using multiple
PowerBuoys for homeland security including powering sensor networks over
wide areas of
the ocean. Under the first phase of the program, as announced on October
16, 2008, OPT deployed
an initial test design of its autonomous PowerBuoy 75 miles off the
coast of New Jersey. This first phase ocean test provided power
generation data that validated OPT's power predictions for the system.
The new contract provides for ocean testing by the Navy of an advanced
version of the autonomous PowerBuoy for the Navy's operational
requirements. In addition, OPT will support the Navy's ocean test
procedures in the areas of mooring design, at-sea operations and
deployment
Market Watch 11/05/08
Flaster/Greenberg Named
“Go To Law Firm” For the
second year,
Flaster/Greenberg
has
been selected as a "Go To Law Firm®" by Corporate Counsel®
magazine. Nominated by its client
Toll Brothers for Litigation,
Flaster/Greenberg
shareholders
Carl Bisgaier,
of Haddonfield, NJ and
James Kozachek, of
Columbus, NJ, members of the
Construction
and
Real Estate Practice Groups,
serve as counsel to the Fortune 500 home builder. Fewer than half of one
percent of all firms in the U.S. and abroad are recognized with this
honor. In coordination
with Incisive media, Fortune 500 General Counsel identified “Go To Law
Firms” in various practice areas based on research conducted by Incisive
Media. Researchers asked in-house counsel at Fortune 500 companies
throughout the country to identify which outside law firms they turn to
for assistance. Incisive Media’s research department also gathered data
on these law firms from various public records resources including
court dockets and securities filings, as well as legal and business
publications. A
multi-disciplinary regional business law firm of 70 attorneys practicing
in 23 areas of law,
Flaster/Greenberg
has offices in New Jersey,
Pennsylvania and Delaware. For over 35 years, the firm has represented
a diverse business clientele, including publicly and privately held
companies in areas ranging from
manufacturing and high technology to real estate and service industries.
11/4/08
PPL
Corporation reports third-quarter 2008 earnings
PPL Corporation (NYSE: PPL)
on Tuesday (11/4) reported declines in both third-quarter and nine-month
earnings for 2008, compared
with the same periods of 2007. Contributing to the declines were lower
wholesale electricity margins, partially offset by improved earnings
from PPL’s electricity delivery business in the United Kingdom. PPL’s
reported earnings in the most recent quarter were $0.54 per share,
compared with $0.84 per share a year ago. For the first nine months of
2008, PPL’s reported earnings were $1.73 per share, compared with $2.25
per share a year ago. Third-quarter earnings from ongoing operations
also declined, to $0.45 per share, compared with $0.72 per share a year
ago. For the first nine months of 2008, earnings from ongoing operations
were $1.56 per share, compared with $2.00 per share a year ago. “While
our quarterly results have been affected by a significant drop in
wholesale energy margins, PPL’s underlying fundamentals remain very
strong,” said James H. Miller, PPL’s chairman, president and chief
executive officer. “We are confident that our strategy of focusing on
the efficient operation of our high quality generating assets and the
marketing of the output from these assets, combined with effective
operation of our regulated electricity delivery systems, will continue
to provide significant
long-term value for our shareowners.
PPL news release 11/4/08
Ocean Power looks to hire a new wave of employees
Ocean Power Technologies Inc.
is hiring. George Taylor, chief executive officer of the
Pennington-based maker of high-tech buoys that convert wave energy into
electricity, says the publicly held company will grow by 40 percent, to
70 employees, during the next 12 months. The hiring spree comes on the
heels of the federal government expanding its Renewable Electricity
Production Tax Credit to sellers of electricity generated by wave,
tidal, current and ocean thermal energy. NJBIZ spoke with Taylor
about how much the electricity costs, what a PowerBuoy is and where
waves fit into the renewable energy picture.
Click for NJBIZ
interview 11/4/08
Click here for your FREE, 30-day 'EnviroPolitics' trial
VeraSun Energy files for Chapter
11 protection One of the nation's
largest ethanol producers
is filing for protection under Chapter 11 of the U.S. Bankruptcy Code
after facing liquidity problems. VeraSun Energy Corp., of Sioux Falls,
S.D., has 16 facilities in eight states that are scheduled to have
annual capacity of 1.64 billion gallons of ethanol by the end of this
year. The company said it suffered significant losses during the third
quarter due to a "dramatic spike" in corn costs. The company also cited
worsening capital market conditions and tightening of credit as factors.
The company said it intends to continue operating. "The filing allows
VeraSun to address its short-term liquidity constraints as we navigate
historically challenging market conditions while we focus on
restructuring to address the company's long-term future," CEO Don Endres
said. Waste
News 11/4/08
>VeraSun
to borrow $40 million to continue operations
11/4/08
ISRI adopts voluntary practices into
certification program
The Institute of Scrap Recycling Industries
has adopted voluntary operational practices for electronics recycling
into its Recycling Industry Operating Standard certification program.
The U.S. EPA led a multi-stakeholder effort over two years to develop
the voluntary electronics standards. The group included representatives
from federal and state governments, recyclers, electronics manufacturers
and trade associations. RIOS is an integrated management system standard
that ISRI adopted for recycling operations. The electronics component is
known as the Responsible Recycling Practices for Use in Accredited
Certification Programs for Electronics Recyclers -- which is also known
by the shorter name R2. Details are available online at
www.epa.gov/epawaste/conserve/materials/ecycling/r2practices.htm
11/4/08
Partnership for the Delaware Estuary names
finance director
Donald
E.
(Gus) Wolfe has been hired as the first-ever director of finance and
operations at the Partnership for the Delaware Estuary (PDE), a National
Estuary Program. In this role he is responsible for accounting and
grant reporting at the tri-state nonprofit, as well
as office and employee benefit administration. Wolfe has over 30 years
of experience working for private and government organizations. Before
coming
to the PDE, he was controller for a local architecture firm. He has
also held several accounting and management positions at the Delaware
River and Bay Authority during his career. Wolfe received his bachelor’s
degree in accounting and his master’s degree in business administration
from the University of Delaware in 1976 and 1986 respectively. Today he
and his wife live in Newark, Delaware, near his alma mater. In his free
time he serves as a swim coach, a role that currently has him coaching
athletes who are vying to compete in the Delaware Senior Olympics. The
Partnership for the Delaware Estuary, a National Estuary Program based
in Wilmington, leads collaborative and creative efforts to protect and
enhance the Delaware Estuary, and its tributaries, for current and
future generations. 11/3/08
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PSEG announces third quarter 2008 earnings
Public Service Enterprise Group reported
income from continuing operations for the third quarter of 2008 of $476
million or $0.94 per share compared to income from continuing operations
during the third quarter of 2007 of $490 million or $0.96 per share.
Operating earnings in the third quarter of 2008 were equivalent to
income from continuing operations. Excluding a $7.0 million impairment
of the company’s investment in Turboven, operating earnings in
the third quarter of 2007 were $497 million or $0.97 per share.
Predominantly due to a gain on the
sale of SAESA of $187 million, which was sold in July 2008, income from
discontinued operations amounted to $180 million or $0.35 per share
during the 2008 third quarter bringing net income for the period to $656
million or $1.29 per share. By comparison, in the third quarter of
2007, income from discontinued operations raised net income by $16
million or $0.03 per share to $506 million, or $0.99 per share. Ralph
Izzo, chairman, president and chief executive officer of PSEG, said
“Although the economy is experiencing unprecedented turbulence, the
focus and dedication of PSEG’s employees
to operational excellence continues to provide the solid foundation that
allowed us to report very strong earnings for the first nine months of
the year, and comfortably supports our 2008 earnings guidance of
$2.80-$3.05 per share.”
PSEG news release 10/31/08
American Water subsidiary buys central PA system
Pennsylvania American
Water said Thursday it has acquired
the Clarion Area Authority wastewater system for $3.8 million.
The system serves 6,600 people in
Clarion Borough, Clarion Township and Monroe Township in Clarion County,
Pa. The purchase follows the company’s July acquisition of the
Claysville-Donegal Joint Municipal Authority water and wastewater
systems in Washington County for $2 million. That was Pennsylvania
American Water’s first wastewater-system acquisition in western
Pennsylvania. Pennsylvania American Water is a subsidiary of
American Water Works Co.
of Voorhees, N.J., which is the largest publicly traded owner of water
and wastewater systems in the United States
Philadelphia Business Journal 10/31/08
Middlesex Water Company increases dividend
Middlesex Water
Company (NASDAQ: MSEX)
a provider of water and wastewater and related services in New Jersey
and Delaware, announced that on October 28, 2008, the Company's Board of
Directors approved an increase in the Company's quarterly cash dividend
to $0.1775 from $0.1750. The new dividend rate is payable December 1,
2008 to shareholders of record as of November 14, 2008. This dividend
increase raises the annual dividend
to $0.71 from $0.70 per share of common stock. The Company has paid cash
dividends in varying amounts continually since 1912. Middlesex Water has
a Dividend Reinvestment Plan (DRP), available to registered
shareholders, under which dividends and optional cash payments can be
used to purchase additional shares of Common stock. Middlesex Water
Company, organized in 1897, provides regulated and unregulated water and
wastewater utility services in New Jersey and Delaware through various
subsidiary companies. For additional information regarding Middlesex
Water Company including information about the Company's DRP Program,
visit the Company's Web site at
www.middlesexwater.com or call (732) 634-1500 10/30/08
Sharp announces nationwide e-recycling program
The New Jersey-based company said today that
it is creating a nationwide electronics recycling program to provide
free, convenient consumer rec ycling
of Sharp Electronics televisions and other consumer audio and video
products. The program will kick off in several states in November, and
is slated to expand to all 50 states with many hundreds more sites, over
next three years. Panasonic and Toshiba products will also be
accepted at these locations. "In all aspects of our business, we
continuously seek ways to reduce impact on the environment," said Doug
Koshima, chairman and CEO, Sharp Electronics Corporation. "Working
through the MRM venture, Sharp, Panasonic Corporation of North America
and Toshiba America Consumer Products, are working to create an
electronics recycling program that achieves the dual objectives of being
easy and convenient for consumers, while offering the industry a path to
efficient, environmentally sound recycling." Sharp's recycling program
will utilize the infrastructure being developed by the Electronics
Manufacturers Recycling Management Company (MRM). A joint venture
between Panasonic, Sharp Electronics and Toshiba, MRM was established in
September of 2007 to efficiently manage collection and recycling
programs in the United States for electronics manufacturers. Beginning
in November, there will be more than 160 sites in 10 states where
consumers can drop off Sharp brand televisions and other Sharp consumer
audio and video electronics products for free recycling. Along with MRM,
Sharp will continue its expansion until its services cover all 50
states. Sharp will also accept consumer drop-off of Sharp televisions
and consumer electronics products for recycling at its headquarters in
Mahwah, NJ. A complete list of locations where Sharp products can
be recycled will be available by November 1st on the MRM website at
http://www.MRMrecycling.com
10/30/08
Lynn M.
Nowak of Nancy H. Becker Associates joins Porzio Governmental Affairs
Porzio
Governmental Affairs has announced that Lynn M. Nowak of Nancy
H. Becker Associates (NBA) has joined her practice with Porzio
Governmental Affairs, LLC. Porzio Governmental Affairs is
a wholly owned subsidiary of the law firm of Porzio, Bromberg & Newman.
Joining the organizations
is expected to put the firm solidly among the Top 10 lobbying firms in
New Jersey, based on revenues. Ms. Nowak, who joins as Executive Vice
President, is bringing her team with her. To accommodate the larger
group, Porzio Governmental Affairs will be relocating its offices to new
space at 41 West State Street in Trenton. Dennis F. Marco,
Executive Vice President of Porzio Governmental Affairs, who was
instrumental in developing and growing Porzio Governmental Affairs since
its launch in 2006, said that Ms. Nowak and her team will enable Porzio
Governmental Affairs to offer a broader slate of public affairs and
public relations services to clients. Ms. Nowak's group, he said, would
supplement the Porzio Governmental Affairs practice with a rich and
successful public relations component that calls attention to clients'
accomplishments and gains support for their positions. Additional
services offered by Porzio Governmental Affairs include strategic
planning, lobbying, business development efforts, coalition building,
grassroots outreach, community outreach, and event coordination.
Ms.
Nowak served as President of Nancy H. Becker Associates since
Princeton Communications Group acquired the firm on the retirement
of Ms. Becker in 2003, retaining the NBA name. Prior to joining NBA, Ms.
Nowak served as the legislative liaison for the New Jersey Department of
Commerce and Economic Development where she was responsible for all of
the department's legislative and
regulatory activities.
Porzio Governmental Affairs media release
10/29/08
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Langan Ranked #1 in
Retail by
New York
Construction
Magazine
Langan Engineering
& Environmental Services of Elmwood Park, NJ, a premier land development
engineering and environmental consulting firm, secured the top spot for
retail in the annual rankings of metropolitan
area design firms by New York Construction magazine. Langan’s
comprehensive, integrated “ground and down” engineering and
environmental services enable the firm to support projects in virtually
every real estate market, including retail where the firm has a long
history of success supporting private developers, major national brands,
and leading REITs. Langan retail projects in the region include
Meadowlands Xanadu, Bronx Terminal Market, The Shops at Atlas Park,
Jersey Gardens Mall, Clifton Commons, Blue Back Square in West Hartford
and numerous projects for Lowe’s Home Improvement, Stop & Shop,
Wal-Mart, Costco, and Target. “It’s gratifying to see our success
acknowledged in a publication like New York Construction
magazine, which serves as a standard for industry news and information,”
said David T. Gockel, President/CEO of Langan Engineering &
Environmental Services. “We are proud to be the leader in the field and
we are especially thankful to our clients.” Langan consistently ranks
among the Top 5 Best Engineering Firms to Work For by Civil
Engineering News and ranks among the top 20 Green Design Firms by
Engineering News-Record. Founded in 1970,
Langan is a premier provider of
integrated land development engineering and environmental consulting
services. Currently, it employs approximately 650 professionals and has
regional offices in New York City; Philadelphia, Bethlehem, and
Doylestown, PA; New Haven, CT; Trenton, NJ; Arlington, VA; Miami and
Tallahassee, FL; Las Vegas, NV; and Pasadena, CA. Langan's core
disciplines are site/civil, geotechnical, and environmental engineering,
as well as landscape architecture and planning, survey/mapping,
traffic/transportation, CADD/GIS, and natural resource permitting. The
firm works in virtually all real estate development sectors including
residential, retail, office, industrial, high-rise, school construction,
mixed-use, stadiums/arenas, waterfront and Brownfield redevelopment,
urban revitalization, and corporate environmental remediation.
10/29/08
PA renews Green Building Alliance funding
Philadelphia University’s
Engineering and Design Institute and the
Green Building Alliance
have received a $1 million grant from the state of Pennsylvania to fund
the third year of the Pennsylvania Green Growth Partnership.
The Engineering and Design Institute
and the Green Building Alliance, which is based in Pittsburgh, received
$2 million from the state in 2006 to establish the partnership and $1.5
million last year to continue it. The partnership also includes Temple,
Villanova, Carnegie Mellon and Pennsylvania State universities, the
University of Pittsburgh, the Delaware Valley Green Building Council and
Ben Franklin Technology Partners of Southeastern Pennsylvania. The
partnership was established to promote economic development through the
design and construction of green buildings and the development of
energy-saving building materials, products and technologies. In the
upcoming year, it expects to assist at least 175 businesses statewide
and to create 75 jobs and retain another 150 jobs. The Engineering and
Design Institute was established in 2000 to spur the development of
innovative green building materials, assist with the design of
sustainable buildings and provide community outreach and educational
programs for students and those in the building field
Philadelphia Business Journal 10/28/08
Manufacturer of cells for solar panels negotiating
space in Westmoreland County, PA
A Rostraver, PA manufacturer of
cells for solar panels is in negotiations for 500,000 square feet at
Sony Electronics Inc.’s plant in Westmoreland County. Sony spokesman
Michael Koff confirmed the negotiations for space in the 2.8
million-square-foot facility in East Huntingdon and Hempfield where Sony
occupies all but about 1 million square feet. “We have been looking at a
number of things in regard to leasing that space, using that space,”
Koff said. “That is an opportunity to lower some of our fixed costs.”
Representatives from Solar Power Industries did not return calls
requesting comment but last year the company announced plans to double
its manufacturing space and revenue while tripling employment by 2009.
The company, a former division of Tokyo-based fluid machinery and
environmental engineering company Ebara Corp., occupies about 65,000
square feet at the Rostraver Airport Industrial Park and has made plans
to lease two additional 30,000-square-foot buildings there. The company
purchased 2.77-acres in the park last year with plans for expansion.
Last year the company said it planned to increase its work force to 400
by the end of 2009, facing surging demand for its product. The company
also said it expected its revenue to jump to $30 million in 2007 from
$15 million in 2006
Pittsburgh Business Times 10/28/08
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Foster Wheeler Awarded Coal-to-Liquids
Feasibility Study in China
Foster Wheeler Ltd. announced today that its
subsidiaries, Foster Wheeler Energy Limited and Foster Wheeler
International Engineering & Consulting (Shanghai) Co. Ltd., together
with its consortium partner, Wuhuan Engineering Company, have been
awarded contracts by Sasol Synfuels International (Proprietary) Limited
(Sasol) and Shenhua Ningxia Coal Industry Group Company Ltd. (Shenhua)
to perform a feasibility study for an 80,000 barrels per day
coal-to-liquids (CTL) plant in the Ningxia Hui Autonomous Region, the
coal-rich western part of the People's Republic of China. The Foster
Wheeler contract value was not disclosed, and will be included in the
company's fourth-quarter 2008 bookings. Foster Wheeler will develop the
technical definition, engineering, procurement and construction strategy
and cost estimate and will provide input to the project's financial
evaluation to support project approval by the Chinese government. The
planned facility will convert coal into selected fuel products such as
diesel, naphtha and liquefied petroleum gas by combining three principal
processes: gasification of coal to synthesis gas, the conversion of
synthesis gas into liquid fuels using Sasol's low-temperature
Fischer-Tropsch technology, and hydrocracking the converted products
into valuable fuel products. Foster Wheeler Ltd. is a global engineering
and construction contractor and power equipment supplier delivering
technically advanced, reliable facilities and equipment. The company is
based in Hamilton, Bermuda, and its operational headquarters are in
Clinton, NJ. 10/27/08
Aluminum
Association’s 2007 Statistical
Review now available
The Aluminum
Statistical Review for 2007 includes information on every cycle of
the aluminum production process—from primary aluminum to markets for
finished goods, to the recovery of aluminum scrap.
The review is an
educational tool designed to support members of the industry, financial
analysts, government agencies, students and the
general public. Its contents include text,
tables and charts to provide
year-end figures and other historic data on U.S. and Canadian shipments,
markets, supply and foreign trade.
The 2007 edition contains an eleven-year
summary (1997-2007) as well as historical statistics on the aluminum
industry. The review can be downloaded by going to
www.aluminum.org/Bookstore
and clicking ‘Whats New’ on the left side of the screen. Aluminum
Association 10/27/08
Converted Organics receives first shipment of food waste at its New
Jersey facility
Royal Waste Services, Inc. of Queens, NY delivered the first shipment of
solid food waste today to Converted Organics Inc.'s Woodbridge, NJ
plant. Royal Waste Services provides waste management services to
industrial and commercial customers throughout New York City. Royal
Waste Services and Converted Organics have agreed to cooperate in the
collection, processing and conversion of food waste from Royal Waste
Services’ food service clients. “The delivery of this first shipment of
solid food waste allows us to continue commissioning equipment that will
enable the plant to be fully operational by year end, fill current
customer orders in a timely fashion, and meet growing market demand for
Converted Organics’ products for the spring 2009 season,” said Edward J.
Gildea, President of Converted Organics. The company uses
state-of-the-art technologies to create an organic soil amendment or
fertilizer products through food waste recycling. The company plans to
sell and distribute its environmentally-friendly fertilizer products
into the retail, turf management, and agribusiness markets
iStockAnalyst 10/24/08
NRG Energy
confirms receipt of unsolicited proposal from Exelon
Princeton, NJ-based
NRG Energy, Inc. (NYSE: NRG) today confirmed that it has received an
unsolicited proposal from Exelon Corporation (NYSE: EXC) to acquire all
of the outstanding shares of NRG Energy at a fixed exchange ratio of
0.485 Exelon shares for each NRG common share. NRG's Board of Directors
will review Exelon's proposal with their advisors and determine the
appropriate response in due course. NRG stockholders are advised to take
no action at this time pending the review by NRG's Board of Directors.
Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are
serving as financial advisors and Kirkland & Ellis LLP is serving as
legal counsel
Business Wire 10/20/08
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CBRE completes $362.M deal
In a transaction it says
is the largest office sale ever transacted
in New Jersey, CB Richard Ellis recently announced that Park Avenue at
Morris County traded for $362.4 million
Daily Record
10/17/08
Gas, oil producers form Marcellus Shale Committee
A group of small independent gas and
oil producers has formed the Marcellus Shale Committee to represent the
oil and gas industry in Pennsylvania in matters of drilling,
acquisition, development and exploration of the Marcellus Shale natural
gas resource
Pittsburgh Business Times 10/14/08
PennFuture Elects New Board of Directors Vice Chair
Citizens for Pennsylvania's Future
(PennFuture) today announced the election of David Lane, President of
LevLane Advertising, to
vice chair of its board of directors for a two-year term. Lane will work
to enforce environmental laws
and advocate for the transformation of public policy, public opinion and
the marketplace to restore
and protect the environment and safeguard public health. PennFuture is a
statewide public interest membership organization, founded in 1998.
Working from the premise that "Every environmental
victory grows the economy," PennFuture has successfully advocated for
landmark environmental legislation, including passage of the largest
ever environmental funding bond, passage of the
Alternative Energy Portfolio Standards Act, adoption of the Clean
Vehicles Program and adoption
of a regulation that protects Pennsylvania's babies by restricting
mercury pollution from coal-fired
power plants. PennFuture has staff throughout the state, in Harrisburg,
Philadelphia, Pittsburgh,
West Chester and Scranton. The Philadelphia Inquirer called PennFuture
the "state's leading environmental advocacy organization."
Market Watch 10/14/08
Alani Golanski joins Weitz & Luxenberg's asbestos
litigation unit Mr. Golanski is an
appellate attorney who has won affirmances of dozens of
multimillion-dollar asbestos-related judgments, as well as appellate
reversals in several landmark state and federal cases. He has appeared
before courts nationwide in many asbestos and other toxic tort actions
on behalf of
injured clients. Weitz & Luxenberg is New York's largest personal injury
law firm. It has been
practicing mass tort litigation longer than any firm in New York State,
and rose to the forefront of asbestos litigation in the mid-1980s. Mr.
Golanski's practice areas at the firm will include:
appellate litigation, asbestos and toxic tort litigation, and federal
government contract disputes.
He is licensed to practice in New York, New Jersey and Connecticut
Market Watch 10/14/08
Dunn receives Environmental Leadership Award for work with PA
rivers The Alliance for the Chesapeake
Bay has announced that this year's winner of its Environmental
Leadership Award is Cindy Adams Dunn of Pennsylvania. The award is
given each year in honor of Fran Flanigan, former executive director
of the Alliance. Recipients of the Environmental Leadership Award are
chosen for their dedication to the cause of restoring the Chesapeake
Bay and its rivers. Dunn was chosen for her decades of effort to
generate public awareness of the importance of healthy rivers in
Pennsylvania to the overall restoration of the Chesapeake. With the
Susquehanna River contributing almost half of the freshwater to the
Bay, and with another portion of the state draining into the Potomac,
the commonwealth is the source of most of the river inflows to the
estuary. Dunn's dedication to restoring the health of these rivers and
reducing their adverse impacts on the Bay has been a critical part of
the Pennsylvania effort. She
is the deputy secretary for Conservation and Technical Services of the
Pennsylvania Department of Conservation and Natural Resources, leading
the department's work in landscape conservation, recreation, geology
and topography. Prior to this, Dunn was director of the Bureau of
Recreation and Conservation. Before joining the department, she was
the executive director of Pennsylvania Audubon. Dunn will be presented
with her award at the annual "Taste of the Chesapeake" fund- raiser
Nov. 7 at the Baltimore Museum of Industry on the Inner Harbor South.
For information on sponsorships or
reservations for the "Taste of the Chesapeake," call 410-377-6270 or
visit www.acb-online.org.
Bay
Journal 10/7/2008
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Saul Ewing adds former chairman of the Pennsylvania
Public Utility Commission Saul Ewing LLP
is pleased to announce that Wendell F. Holland, former Chairman of the
Pennsylvania Public Utility Commission (PaPUC), has joined the Firm as a
Partner in its Business Department and Energy and Utilities Practice
Group. Holland will advise utility clients on national and state
regulatory matters, as well as on compliance with legislation governing
the electric, natural gas, water, tele- communications and
transportation industries. Holland served two non-consecutive
terms at the PaPUC, first, as Commissioner, from 1990 to 1993, and
again, as Chairman, from 2004 through
June 2008. This experience gave Holland valuable current and historical
knowledge of utility
regulation both in Pennsylvania and nationwide
Market Watch
10/6/08
PSE&G chief urges investment in green economy to
weather financial storm New
Jersey should start to address the effects of the recent economic storm
by encouraging invest-
-ments in energy efficiency and renewable projects that will create jobs
and strengthen our economy, according to Ralph LaRossa, president and
COO of Public Service Electric and Gas Co. in legislative testimony
today. Speaking before the Joint Meeting of the Assembly
Telecommunications and
Utilities Committee and the Environment and Solid Waste Committee in
Trenton, LaRossa urged lawmakers to take decisive action to approve
investments in projects that create real economic value over the long
term. "The temptation at times like this is to hunker down, to take no
risks, to delay investments until the economy somehow recovers on its
own. But that, in my view, would be exactly the wrong path," LaRossa
said.
News release 10/6/08
Casella Waste Systems opens 4.8 mw gas-to-energy
facility in New York The regional
solid waste, recycling and resource management services company,
announced today that it is operating its Hyland landfill gas-to-energy
plant, producing clean energy from landfill methane gas, ahead of
schedule. This facility is the company's fourth landfill gas-to-energy
project. The new
landfill gas-to-energy plant, located at the company's Hyland landfill
in Angelica, NY, is expected
to produce 4.8 megawatts per hour of clean energy, or enough renewable
electricity to power over 5,000 households. Casella deployed its
low-emission landfill model at the Hyland site with a state-
of-the-art gas collection system collecting landfill gases, which are
then scrubbed and used to
power Caterpillar generators. Beyond producing clean energy, the
facility will reduce carbon dioxide equivalents -- "greenhouse gases" --
by eliminating landfill methane emissions and displacing the
use of fossil fuel with renewable energy. In total, the emissions
savings are equivalent to taking approximately 40,000 cars off the roads
each year
Casella news release 10/6/08
Tom Joyce named as
President and Chief Nuclear Officer of PSEG Nuclear
Public
Service Enterprise Group (PSEG) today
announced the election of Thomas P. Joyce as president
and chief nuclear
officer of PSEG Nuclear, effective October 6. Joyce has been the senior
vice president - operations at PSEG Nuclear since June 2007. In that
role, he was responsible for the
safe, efficient operation of the Salem
Unit 1 and 2 and Hope Creek generating stations. He had previously
served
as the site vice president of the Salem station where he led the station
to
numerous performance records. “Tom has raised the performance of
every organization he has led, including PSEG Nuclear where he
effectively managed our transition to independent operation while
improving the performance of our fleet,” said William Levis, president
of PSEG Power, of which PSEG Nuclear is a subsidiary. “Tom is known
within our industry for his drive toward operational excellence and his
record speaks
for itself.” Joyce has more than 32 years of experience in commercial
nuclear power operations.
Prior to coming to PSEG in January of 2005, he was the site vice
president of Exelon Nuclear’s Braidwood station. Joyce also held
leadership positions at Exelon’s Byron, Dresden, and Zion stations, and
in the corporate offices of both Exelon Corporation and Exelon Nuclear. Public
Service Enterprise Group (PSEG) is a publicly traded diversified energy
company with annual revenues of more than $12 billion, and three
principal subsidiaries: PSEG Power, PSEG Energy Holdings, and Public
Service Electric and Gas Company (PSE&G). PSEG Power, one of the largest
independent power producers in the U.S. has three main subsidiaries:
PSEG Fossil, PSEG Nuclear, and PSEG Energy Resources & Trade. PSEG
Energy Holdings has two main unregulated energy-related businesses: PSEG
Global and PSEG Resources. PSE&G, New Jersey’s oldest and largest
regulated gas and electric delivery utility, serves nearly
three-quarters of NJ’s population.
PSEG 10/3/2008
Langan opens Bethlehem,
PA office to serve the Lehigh Valley
Langan Engineering & Environmental Services,
a premier land development engineering and environmental consulting
firm, has announced the opening of a new office in Bethlehem,
Pennsylvania. The latest Langan office,
(third in Pennsylvania), will provide the firm’s integrated suite of
geotechnical, site/civil, and environmental engineering services to
developers, property owners, architects, and corporate clients primarily
focused on the Lehigh Valley. The address and phone number of the new
Langan office
will be One West Broad Street, Suite 200, Bethlehem, PA, 18018,
phone: 610-984-8500. By opening an office in Bethlehem, Langan’s 10th
location in six states, the firm is positioned to leverage its local
knowledge and experience and extend its geographic reach throughout
eastern Pennsylvania.
Langan’s unique mix of “ground and down” engineering and environmental
services are well suited to provide turnkey solutions in numerous real
estate sectors, including commercial, industrial, retail, residential,
healthcare, and universities. Langan’s expertise in environmental
remediation and compliance services will also be provided to
corporations in the energy, petroleum, chemical, pharmaceutical, and
manufacturing industries. “We are excited about opening a new office in
the vibrant economy of the Lehigh Valley,” said David T. Gockel,
President/CEO, Langan. “We expect
that development in this region will be a precursor to the recovery of the
real estate development market in eastern Pennsylvania."
Langan’s Lehigh Valley Office will be led by Jason S.
Engelhardt, P.E., LEED AP, an Associate with the firm who has more than
15 years experience and has
managed multiple major projects in Pennsylvania and New Jersey.
Langan news release 10/2/08
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Environment New Jersey applauds seven
NJ congressmen on global warming
Environment New
Jersey today hailed a letter sent by seven New Jersey Congressmen
and other members of Congress to House Speaker Nancy Pelosi laying out a
blueprint for
U.S.
action to solve global warming. The letter, which establishes
principles for “strong, fair, and science-based” legislation, was signed
by Representatives Pascrell, Payne, Holt, Rothman, Sires, Andrews, and
Pallone. Congressman LoBiondo has also supported strong on action on
global warming by signing
on as a co-sponsor of Safe Climate Act, HR1590, earlier this year.
The principles call
for reducing total
U.S.
emissions of global warming pollutants by 15-20 percent by 2020 and by
80 percent by 2050
in order to keep the global rise in temperatures to no more than 3.6
degrees F (2 degrees C) over
pre-industrial levels. At increases of more than 3.6 degrees F,
scientists believe that the effects of global warming would become
catastrophic.
“This letter sets the stage for action on
global warming next year. These New Jersey Representatives are sending
a clear message that global warming legislation must be strong, fair,
and science-based,” said Environment New Jersey Executive Director Dena
Mottola Jaborska.
ENJ
news release
Copy of ENJ letter 10/2/2008
Allegheny Energy
Announces Dividend The Board of
Directors of Allegheny Energy, Inc.
today authorized a cash dividend of $0.15
per outstanding share of the company’s common stock. The dividend is
payable December 29, 2008, to shareholders of record at the close of
business on December 15, 2008.
This marks the
fifth dividend payment since
the company reinstated the dividend last year, ending a suspension
that lasted nearly five years.
The board suspended the dividend in December 2002 and brought in a new
management team in
mid-2003. Allegheny
returned to profitability the
following year, reported strong earnings growth in 2005 through 2007,
and achieved investment grade credit ratings from both Standard & Poor’s
and Moody’s Investors Service last year.
Headquartered in Greensburg, Pa., Allegheny Energy is an investor-owned
electric utility with total annual revenues of over $3 billion and more
than 4,000 employees. The company owns and operates generating
facilities and delivers low-cost, reliable electric service to nearly
1.6 million customers in Pennsylvania, West Virginia, Maryland and
Virginia. For more
information, visit our Web site at
www.alleghenyenergy.com.
10/2/08
PPL completes successful
sale of natural gas distribution and propane businesses
PPL Corporation,
headquartered in Allentown, PA, has successfully completed the
sale of its natural gas distribution and propane subsidiaries to UGI
Utilities, Inc. UGI Utilities, a wholly owned subsidiary of UGI
Corporation based in Valley Forge, Pa., has acquired PPL Gas Utilities
Corporation and Penn
Fuel Propane, LLC, for about $268 million in cash
plus working capital. PPL announced in July 2007
its intention to sell
its gas distribution and propane companies and signed a definitive sale
agreement with UGI in March of this year. The two companies represented
about 1 percent of PPL’s overall earnings from ongoing operations in
2007. The gas utility serves about 76,000 natural gas distribution
customers in 35 counties throughout Pennsylvania and a small area of
Maryland. It operates about 3,800 miles of pipeline and owns underground
gas storage capacity in three separate reservoirs in north-central
Pennsylvania. The propane subsidiary buys propane on a wholesale basis
and stores, delivers and sells it to about 33,000 industrial, commercial
and residential customers in Pennsylvania, Delaware, Maryland and West
Virginia.
PPL news release 10/1/08
Rohm and
Haas starts up a lab in Asia
Rohm and Haas Co.
has opened the Southeast Asia Technical Laboratory in Singapore. The lab
supports the Philadelphia chemical company’s latest
efforts to bring new
technology to the fast-growing Southeast Asian market.
Rohm and Haas has
been boosting its research
and presence in Southeast Asia to serve its growing customer base there
and have a faster turnaround time on projects in that region
Philadelphia Business Journal 10/1/08
Jersey
Central Power & Light files solar renewable energy financing proposal
The
energy company, based in Morristown, NJ,
today filed with the New
Jersey Board of Public Utilities (BPU) a proposal designed to help
increase the pace of solar project development in the state. Under the
proposal, JCP&L would enter into long-term agreements to purchase and
sell Solar Renewable Energy Certificates (SREC) to provide a stable
basis for financing solar generation projects. An
SREC represents the
solar renewable energy attributes of one megawatt-hour of generation
from
a solar generation facility that has been certified by the BPU
Office of Clean Energy. The BPU has asked all the state's electric
delivery companies to submit SREC-based financing plans with the
goal of
providing a predictable cash flow for solar generation projects. Under
its proposal, JCP&L
would solicit SRECs
to satisfy approximately 60 percent of the incremental SREC purchases
needed in its service territory to meet the Renewable Portfolio
Standards (RPS) through the end of 2010. SRECs would equal 50 percent of
the incremental purchases to meet the RPS in 2011, and
40 percent in
2012. In total, JCP&L expects the plan to support the phase-in of
approximately 30 megawatts of solar projects through May 31, 2012. JCP&L
will seek proposals for SREC purchase agreements with terms of 10
to 15 years and will solicit proposals on a semi-annual basis through
a
series of requests for proposal (RFP). JCP&L will work through an
independent RFP manager to perform solicitations. SRECs purchased
through the contracts will then be sold to energy suppliers through an
auction process
and revenues from the sales will be used to offset program costs.
Market Watch 9/30/08
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Aqua America Pennsylvania subsidiary acquires water
system in Honesdale, PA
Aqua America, Inc. (Aqua) announced today
that its Pennsylvania subsidiary has completed its
merger of the
Honesdale Consolidated Water Company (HCWC) which serves approximately
6,000 people within portions of Honesdale Borough and Texas Township,
Wayne County, in a transaction valued at $6.7M. "We are pleased to have
expanded our footprint in Wayne County, Pennsylvania,
and this
acquisition represents another in our pipeline of growth opportunities
that continue to produce meaningful acquisitions and expand our customer
base in both the water and wastewater utility arenas," said Aqua America
Chairman and CEO Nicholas DeBenedictis. Aqua Pennsylvania will
use HCWC's office in Honesdale Borough as the operations headquarters for
its Northeast Pennsylvania Division, which services Aqua's community
water and wastewater systems
throughout Pike, Wayne, Monroe and
Lackawanna counties. Aqua America is a publicly traded
water and
wastewater utility holding
company with operating subsidiaries serving approximately
three million
people in Pennsylvania,
New York, Ohio, North Carolina, Illinois, Texas, Florida,
New Jersey,
Indiana, Virginia, Maine,
Missouri and South Carolina. Aqua America is listed on
both the NY
and Philadelphia Stock Exchanges under the ticker symbol WTR
News release 9/30/08
PPL Electric Utilities
receives PennFuture ‘Green Power’ Award
PPL Electric Utilities’
efforts to promote energy efficiency and help customers take greater
control of their electric use
have earned it a Green Power award from PennFuture, one of the state’s
leading environmental advocacy organizations. In presenting the award,
PennFuture praised the company for its online Energy Analyzer, which
provides customers with daily electricity usage information, helps them
analyze their home’s energy use, and provides tips to save. It also
recognized the company for expanding an existing time-of-use pilot
program and for investing in advanced metering and
software that will ultimately enable the company to offer time-of-use
rates to all customers in 2010. DeCampli said more than 220,000
customers have accessed the company’s Energy Analyzer at
www.pplelectric.com since its
launch. In addition, he said the company has worked to promote
energy efficiency through presentations to community groups; visits by
the company’s e-power
team to malls, senior centers and special events; and regular tips in
the company’s
Connect newsletter, which is sent with customer bills.
PPL news release 9/30/08
Philadelphia-based developer stalls plans
for tallest building in Baltimore
ARC Wheeler
LLC has indefinitely delayed the construction of what would be the
tallest building in Baltimore
because of the nationwide credit crunch. Arc Wheeler’s efforts to
redevelop McCormick & Co.’s
former spice plant overlooking Baltimore’s Inner Harbor have been
hampered by economic concerns including a tight financing market and the
reluctance of companies to invest in speculative projects.
To resuscitate the $500 million development, ARC Wheeler is seeking an
equity investment from
either a commercial developer with experience building skyscrapers or a
hotel brand willing to buy
into the project — not just operate a hotel in an Arc Wheeler-owned
building. Both of those will be tough sells in the current economic
climate, but one of the two must happen before the developer
can start construction on its skyline-altering tower.
Philadelphia Business Journal 9/30/08
PSEG recognized as a leader for climate
change disclosure practices
Public Service Enterprise Group (PSEG) (NYSE-PEG) has been named for the
first time to the “Carbon Disclosure Leadership Index,” a list that
recognizes companies from across the globe that have displayed
the most
professional approach to corporate governance in respect of climate
change disclosure practices. The Index is put together by the Carbon
Disclosure Project, a non-profit organization
that collects and compiles
climate change data from major corporations around the world in an
effort to provide investors and policy makers with insight into
corporate climate change strategies.
PSEG news release 9/26/08
Rohm and Haas restarts Texas plants
Rohm and Haas Co. said
Thursday that three plants
in Texas that were shut down because of
Hurricane Ike have resumed operations. The Philadelphia-
based chemical company (NYSE:ROH) said the plants were shut down in
anticipation of the storm, and then remained closed because of
difficulties getting materials needed to operate following Ike.
The Bayport, Deer Park and Lone Star plants make chemicals that are used
by Rohm customers
and Rohm’s own divisions. The products include
ingredients used in paints, varnishes, adhesives
and floor coverings.
The company declared a force majeure last week, which can be invoked
when contract terms cannot be met because of extraordinary
circumstances. Rohm said “there have
been no injuries at the company
sites as a result of the storm or its aftermath, and all employees
have
been accounted for, though many are dealing with damage to their homes.”
Philadelphia Business Journal 9/26/08
PPG
reaches agreement with BASF Corp. to buy industrial coatings business
PPG Industries
announced Thursday it has reached agreement with
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