Archive for September, 2008

A-Power Energy announces upgrade of Fuhrlander Wind Turbine Technology and comments on its business outlook for 2008 and 2009

Friday, September 26th, 2008

BVI company A-Power Energy Generation Systems, Ltd., providing distributed power generation systems in China, announced on September 10 that Fuhrlander wind turbine has upgraded its largest wind turbine from 2.5 MW to 2.7 MW, and secured that Fuhrlander AG will supply all of the components needed to produce the first ten units of the 2.7MW units in time. The production will be started in October of this year, as was agreed before.

The 2.7MW wind turbine will supersede the license agreement for Fuhrlander’s 2.5MW wind turbine technology that A-Power entered into in 2007, and the upgrade will enable A-Power to produce wind turbines with an output of 2.7MW. All the components will be delivered to A-Power’s recently completed wind turbine production facility in Shenyang, China.

A-Power’s Chairman and CEO Mr. Jinxiang Lu informed investors on the progress the BVI company has made on the 2.7MW wind turbine production for 2008, working closely with Fuhrlander AG. By his words, Fuhrlander will provide intensive training for A-Power technicians at both Fuhrlander’s facility in Germany and A-Power’s facility in China.

The BVI company published comments on its business outlook for 2008 and 2009. Concerning distributed power generation (DG), A-Power has been actively engaged in international DG projects since the beginning of 2008. Besides the $150 million dollar contract that A-Power signed with its Thai customer in April 2008, in August the company announced signing of a MOU for a $300 million agreement to build a power generation system in Thailand. Now, A-Power is negotiating the last details of the future contract which is expected to be signed within the next 2 months.

Because A-Power has signed international contracts for countries with different climates, seasonal DG revenue curve is expected to rise, and the BVI company expects to achieve record third quarter revenue, and even larger revenue in the fourth quarter of 2008.

A-Power also plans to complete the second wind turbine production facility in Inner Mongolia in the mid-2009, and expects to be running the Shenyang and Inner Mongolia facilities at full capacity in 2010, with a total output of 1.8GW having an estimated sales revenue of over $2 billion dollars.

S3 Investment Company comments on the growth of BVI-owned Dalian Chuming

Tuesday, September 23rd, 2008

On September 15, the representative of the holding corporation S3 Investment Company, Inc. commented on the post reverse merger progress of Dalian Chuming, a client of S3’s wholly owned Redwood Capital subsidiary that now trades in the U.S. as Energroup Holdings Corporation, which assists private Chinese companies in accessing the U.S. capital markets through reverse mergers into public companies. The company participated in the transaction involving Dalian Chuming: Energroup Holdings Corporation is a Nevada corporation which acquired all of the issued and outstanding capital stock of Precious Sheen Investments Limited (PSI), a company registered in the British Virgin Islands and being the whole owner of China-based Dalian Chuming.

Under the terms of the reverse merger agreement, Redwood Capital was issued 428,095 shares of Energroup Holdings Corporation as the equity portion of its payment for advisory services provided as part of the Chuming transaction.

Institutional and accredited investors participated in a US$17.0 million private placement with Energroup Holdings Corporation, paying US$4.40 per share. At the placement price, the value of Redwood Capital’s equity position in Energroup Holdings Corporation would exceed US$1.8 million.

BVI-registered Talon Metals publishes updated estimate for the Sao Jorge Project

Tuesday, September 16th, 2008

Talon Metals Corporation, mineral exploration company registered in the British Virgin Islands, which recently announced its financial results for the three month and six month periods of this year, now has reported the updated mineral resource estimate for its 100% owned Sao Jorge Gold Project, located in Brazil.

The global mineral resource estimate for the project is 79% higher than from the previously reported results, completed in September 2006 – at 343.000 troy ounces of gold from the previously reported 191,000 troy ounces. Furthermore, an additional 458,000 troy ounces is reported in the inferred category.

Three drilling campaigns were carried out at Sao Jorge, with a total of 22,761.26 metres in 110 drill holes. The resulting interpretation identified a series of mineralised zones (denominated as low and high grade domains).

Mr. Stuart Comline, President and CEO of Talon Metals, said in his comments that the increase in the gold price since the last resource estimate in 2006 and the results of the additional work completed since then warranted a re-assessment of the resources.

BVI corporation OpenTV presents innovations on television transformation

Tuesday, September 9th, 2008

British Virgin Islands-registered OpenTV Corp., telecommunications corporation and one of leading providers of advanced television and advertising services,  is going to provide answers on the questions concerning television transformation and all relevant matters at the International Broadcaster Conference (IBC), which will be held at the RAI Convention Center in Amsterdam, Netherlands, from September 12 to 16, 2008.

As one of the most significant providers of innovative solutions for digital and interactive television, OpenTV will demostrate its latest developments and new service deployment strategies, including a User Interface Evolution – the introduction of OpenTV Core nX™, the next generation of user interface, which will allow viewers to create a virtual living room where they can expand and personalize their media universe, create their own television experience and social network, build their own television community.

Other innovations that are to be shown at IBC 2008 by OpenTV are new PVR Deployment Models,  dynamic model of Addressable Advertising from PVR, and hybrid VOD service. OpenTV’s showcase will also include live services offered by existing OpenTV customers. BVI corporation’s executives and sales and product marketing staff are to be on site for meetings, demonstrations and discussions.

OpenTV will also make a presentation at the IBC 2008 conference, during the “New Delivery Techniques” session which will be held on September 11.