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ThursdaySep 09, 2010 9:23 am

Valence Technology, Inc. (VLNC) New Supply Agreement Expected to Generate up to $24M in Sales by 2016

Valence Technology Inc. is a leading U.S.-based developer and manufacturer of advanced energy storage solutions. The company today announced its multi-year supply agreement with Wrightbus, the United Kingdom's leading independent supplier of hybrid buses for public transportation systems, which is expected to generate significant revenues over the next six years. The companies’ working relationship stems from an agreement in 2005, which designates Valence as the battery supplier for Wrightbus' future hybrid products in the UK and Ireland. Today’s announced agreement extends the relationship between the two companies through 2016; Valence said it expects the contract to generate between $19 million…

ThursdaySep 09, 2010 9:19 am

Huifeng Bio-Pharmaceutical (HFGB.OB) Announces the Acquisition of Shangqiu Kexin Rutin Processing

Huifeng Bio-Pharmaceutical Technology Inc. specializes in developing and producing botanical extracts and other raw materials for pharmaceuticals and food additives. The company is the leading Chinese producer of rutin and related plant-derived chemicals in class called flavonoids, which are believed to have beneficial properties. The company today announced a definitive agreement under which it will acquire 90% of the equity ownership of Shangqiu Kexin Rutin Processing Limited for a price of $1.75 million. This company is a local leading rutin manufacturer in Henan Province. According to the agreement, Huifeng will acquire Kexin by issuing 2.3 million restricted shares of the…

ThursdaySep 09, 2010 9:17 am

Alico, Inc. (ALCO) Announces New Credit Agreement

Alico, Inc. announced a credit agreement with a new lender to refinance the company’s revolving line of credit and term note issue. The agreement extends the terms of both obligations and lowers interest costs for the company. Alico, Inc. has signed an agreement with Rabo Agrifinance, Inc. for $100 million to replace its existing revolving line of credit and term note with Farm Credit of Southwest Florida. The new term note for Alico, Inc. will be in the amount of $40 million, and bears a variable rate of interest based on the one month London Interbank Offering Rate (LIBOR) plus…

ThursdaySep 09, 2010 9:15 am

GMX Resources Inc. (GMXR) Reduces Capital Budget for 2011 and 2012

GMX Resources Inc. announced a $100 million reduction in capital expenditures for oil and gas development on its properties in Texas and Louisiana over the next two years. GMX Resources Inc. will spend $175 million for capital expenditures each year in 2011 and 2012, down from the previously announced amounts of $200 million each year. The company kept its capital expenditure plan unchanged for 2010 at $175 million. GMX Resources Inc. has also extended the sub lease of one of the land drilling rigs that the company has under contract. The sub lease now runs until the company’s underlying lease…

ThursdaySep 09, 2010 8:35 am

CytoSorbents Corp. (CTSO.OB) to Present at Rodman & Renshaw Conference

CytoSorbents Corporation announced that Dr. Phillip Chan, Chief Executive Officer, would present at the 12th Annual Healthcare Conference at the Rodman & Renshaw Global Investment Conference. The conference will take place at the New York Palace Hotel in New York, New York from September 12 to 15, 2010. Dr. Chan's presentation will take place on Tuesday, September 14, 2010 at 5:45PM EDT in the Winslow Salon. An audio webcast of the slide presentation will be available for 90 days after the event at http://www.wsw.com/webcast/rrshq18/ctso. An electronic copy of the presentation will be made available upon email request. Those interested can…

WednesdaySep 08, 2010 2:32 pm

Imperial Petroleum, Inc. (IPMN.OB) Secures Financing to Develop Revolutionary Oil Sands Recovery Technology

Imperial Petroleum, www.imperialpetroleuminc.com – an oil and gas exploration and development firm, announced today the signing of a Term Sheet with an undisclosed partner to develop the previously announced oil sands recovery technology. The transaction closing will create an exclusive arrangement for utilizing and developing this revolutionary new non-thermal, mechanical/chemical closed-loop, bitumen and heavy oil recovery process for target applications in Canada, Argentina, Mexico, Russia and Venezuela. While subject to the execution of definitive agreements, the Term Sheet allocates $250k for creating a scaled-up prototype that will demonstrate process feasibility, in addition to a $500k initial licensing fee. A firm…

WednesdaySep 08, 2010 2:29 pm

Keyuan Petrochemicals, Inc. (KYNP.OB) Breaks Ground on New SBS Facility to Meet Rising Demand

Keyuan Petrochemicals, a Qingshi Chemical Park, Ningbo, Zhejiang-based leader in the Chinese petrochemical sector, has a current annual refining capacity of some 550k metric tons in over five categories, from BTX aromatics and MTBE to propylene, styrene, and other chemicals. Always looking to strategically expand output, KYNP announced today that construction has begun on a new Styrene-Butadiene-Styrene (SBS) facility. Chairman and CEO of KYNP, Chungfeng Tao, cited rising demand across China’s market for SBS as a component in shoe soles, tire treads and other applications requiring a durable hard rubber. Current production of SBS in China is roughly 600k MT/year,…

WednesdaySep 08, 2010 2:25 pm

Universal Detection Technology’s (UNDT.OB) Biological Detection Equipment Purchased by Boeing

Universal Detection Technology is a developer of early-warning monitoring technologies to protect people from bioterrorism and other infectious health threats. In addition, the company is also involved in other aspects of homeland security including being a provider of counter-terrorism consulting and training services. The company reported today that it has received a purchase order for its 5-agent biological detection equipment from Boeing Service Company, a fully-owned subsidiary of Boeing Defense. The detection equipment is designed to check for anthrax, ricin, botulinum, Y pestis (plague) and other bio-hazards in as little as three minutes. Universal Detection Technology's bio-detection kit was recognized…

WednesdaySep 08, 2010 2:22 pm

IR BioSciences Holdings Inc. (IRBS.OB) Subsidiary Announces Positive Immune Response of Lead Compound Homspera

ImmuneRegen BioSciences Inc., a wholly owned subsidiary of IR BioSciences Holdings Inc., today updated recent results of a study for its lead compound Homspera®. In combination with a DNA vaccine using Scancell’s patented ImmunoBody® technology, Homspera significantly improved the immune response of the vaccine in an animal model. ImmuneRegen said it's currently conducting follow-up studies to optimize Homspera’s efficacy in enhancing the next generation of Scancell's cancer vaccines. Scancell recently started a phase I clinical trial for SCIB1, its novel product in development for the treatment of melanoma centered on its ImmunoBody technology. Scancell's Immunobody technology is unique in that…

WednesdaySep 08, 2010 1:57 pm

BioLargo (BLGO.OB) Agrees to National Distribution of “Odor-No-More”

BioLargo, Inc. announced today that national distribution of its award-winning animal bedding additive, Odor-No-More™, has begun through an agreement with Lextron Animal Health. This is the fourth distribution agreement with a large distributor announced this year for Odor-No-More. Dr. Bob Hummel established Great Plains Chemical Company in Greeley, CO in 1967. After a massive amount of expansion, acquisitions and growth, many of the separate corporations consolidated into one entity early in the 2000’s and emerged as LEXTRON, INC. with several of the other companies continuing to operate as divisions of LEXTRON, INC. Lextron Animal Health is one of said divisions.…

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