Archive for the ‘Manufacturing’ Category

Questions linger around Evergreen Solar’s Devens decision

Friday, January 14th, 2011

By Kyle Alspach

A final thought or two for the week on Evergreen Solar (Nasdaq: ESLRD) and the Devens doomsday announcement. Or rather, some questions: How hard did Evergreen really try to keep jobs here in Massachusetts? And how long were they planning this?

I haven’t found definitive answers, but I do know what the company’s CEO was saying as recently as November.

“Devens continues to improve its cost structure,” CEO Michael El-Hillow said during the company’s third-quarter earnings call on Nov. 2, adding “we’re generating cash in the United States.”

He then made this statement: “We’re trying to keep jobs here, so we’re not going to push things over there (to China) as long as we continue to generate cash in the United States.”

That was not even three months ago. I’m not sure what has changed for the company since then, forcing Evergreen to decide to close the Devens factory by the end of March and cut 800 of the company’s 925 workers in Massachusetts.

I’d hoped to ask El-Hillow, but Evergreen said he wasn’t available. I did get to talk with investor relations VP Michael McCarthy and company spokesman Chris Lawson yesterday for nearly an hour. However, they wouldn’t say how long ago Evergreen made the decision to pull out of Devens.

They also didn’t offer any hints on what makes circumstances now so different from those in November, when Evergreen was already in the thick of its stiff competition with Chinese solar manufacturers.

Among those most stunned by Tuesday’s announcement were the people on the ground — the workers at the Devens factory, who had been encouraged to feel confident about their jobs by statements like the one I just cited from El-Hillow. One employee told me she thought her job was secure because she worked in solar wafer fabrication, which the company had never hinted would be sent to China.

Another worker, who I connected with on Facebook, lamented that he has no idea how he’ll pay his bills once he joins the already large pool of job seekers in Massachusetts.

Yet corporate decisions like this one — while devastating for low-on-the-totem-pole working people and local economies — are often well-received by shareholders, impatient to see some profits. And Evergreen is unquestionably looking to please its shareholders these days.

Along with the obvious goal of keeping the share price afloat (the stock was in de-listing danger until a recent reverse split), Evergreen also needs shareholder approval on Jan. 31 for a major recapitalization plan. The plan would cut the company’s debt and interest costs, but it would also be very dilutive for shareholders.

McCarthy and Lawson, however, said there are plenty of reasons why shareholders might want to approve this plan regardless of any other factors — namely the lack of other good alternatives for cutting company debt.

Clearly, a lot is coming up in coming months for the struggling Evergreen, which could succeed or fail based on what happens in that time.

But after this week, at least one other thing is clear: Massachusetts will have little at stake in the outcome either way.

Digital, shmigital: Polaroid instant photography to return

Tuesday, October 13th, 2009

Anyone who says they saw this coming is lying: Polaroid plans to relaunch its instant photography products in 2010.

Summit Global Group, PLR IP Holdings LLC, and the Impossible Project, a group that had bought a former Polaroid plant in Amsterdam with the intent to manufacture its own instant photography product, have made a deal to manufacture new Polaroid instant cameras and film in 2010.

According to the Boston Herald, PLR IP Holdings is co-owned by Boston-based financial services firm Gordon Brothers Group.

The former Route 128 powerhouse  auctioned off its former headquarters in Waltham on Friday. Its assets, including its intellectual property and name, were sold in April to New York-based private equity firm Patriarch Partners.

The company has been selling a portable photo printer, the Pogo, with technology from its Bedford-based spinout, Zink Imaging.

Even as it fell, Polaroid’s instant photography technology had fans — organized, proactive fans that started projects like Poladroid, a web site that gives digital photos that slightly off Polaroid color; Polanoid, an online gallery of the world’s scanned Polaroid photos; the unnecessary-to-explain Save Polaroid; and the Impossible Project, which had been buying capital to manufacture a similar product. So bringing the product back isn’t that shocking given that some people were bent out of shape enough to buy a factory.

The Ig Nobel Prize winners @ Harvard

Friday, October 2nd, 2009


Click the medals, and then the questions on the multimedia feature above to hear audio of the winners.

I dropped by Harvard last night before the Ig Nobel Prize ceremony — a Nobel Prize takeoff that honors research that makes people laugh, then think. Most of the ten prizewinners were assembled in the Sanders Theater prior to the show, which I was told would include a “Bernie Madoff-themed cabaret” — it’s not on YouTube yet, but you’ll be the first to know when it is. The show also featured a performance from the Boston Squeezebox Ensemble, and I cannot begin to imagine what that could possibly be.

Among the winners, Javier Morales and Miguel Apátiga, researchers at Universidad Nacional Autónoma de México, were honored for developing a process that makes diamond from tequila. Apátiga said one experiment used 25 million liters of booze.

Donald Unger cracked the knuckles of his left hand for more than 60 years to test his mother’s theory on arthritis, and picked up the Ig Nobel medicine prize for his efforts. Winning the award amazed him — Unger said he’s done great work in his time, but this wasn’t it. (more…)

Internet’s full potential finally, fully realized: Bigmouth Billy Bass reads your tweets

Friday, September 25th, 2009

Live video by Ustream

Two English guys working for ARM have developed either the ultimate Twitter peripheral or a sure sign of the imminent decline of Western civilization as we know it: A Big Mouth Billy Bass that reads tweets sent to @mbedmicro

Either way, they presented at the Embedded Systems Conference at the Hynes Convention Center this week. The bass runs on a microcontroller platform developed by ARM engineers Simon Ford and Chris Styles. In the live streaming video above, you can watch Billy read your tweet. Here’s a list of Billy’s recitations, and here are some reactions from conference-going twitterers

If this thing ever goes into mass production, I’m dropping out of society. After the jump, watch Billy lip sync to Homer Simpson and Office Space. (more…)

E Ink not alone in e-reader display market anymore

Tuesday, September 8th, 2009
peruvemba_sriram

Sriram Peruvemba

The Financial Times Tech Blog — which sounds like, but is not, the Mass High Tech Blog’s salmon-colored, English cousin — talks to Sriram Peruvemba, VP of marketing at electronic display-maker E Ink about the evolving market for its technology. The Cambridge-based company, which was bought earlier this year, makes the displays for the Amazon Kindle and most of the 40-plus other models of electronic book reader, according to the Financial Times.

Peruvemba told the Financial Times he saw e-reader prices eventually dropping to $99, and:

Colour is coming next year, with E Ink laying a colour filter over its monochrome display. While the company, which is currently being acquired by Taiwan’s Prime View International, owns the market at present, Mr Peruvemba said 20 companies were currently trying to enter the e-paper sector with differing technologies.

MHT recently named E Ink CEO Russ Wilcox as one of the honorees at our upcoming 2009 Mass High Tech All-Star Awards.

Semyon Dukach talks Global Cycle Solutions

Tuesday, August 18th, 2009

Entrepreneur and MIT blackjack guy Semyon Dukach talks to the AFP about Global Cycle Solutions, the MIT$100K finalist and development-track winner that developed a bicycle-powered corn-sheller for use in developing countries.

Dukach told MHT in January that he was looking for a nonprofit to join to help others as he worked on StartupHive.org. 

You’ll have to click here to watch the AFP’s video — the news wire disabled the embed option.

Via Joost Bonsen.

NewsFlash Roundup: Dataupia, Genzyme, Drew Bledsoe

Monday, August 10th, 2009
New England Tech Stock Index

New England Tech Stock Index

In today’s NewsFlash roundup, Dataupia may not be coming down for breakfast, Genzyme’s Allston problem gets worse, and Drew Bledsoe, VC, makes a cleantech investment. 

Dataupia reportedly seeking asset buyer

Just two months after the company cut its staff levels by more than 50 percent, data-warehousing appliance company Dataupia Inc. is seeking to sell its assets, according to an online report.

Bledsoe’s investment firm backs water tech company

Former New England Patriots quarterback Drew Bledsoe’s investment firm has invested $10 million in a Florida water purification technology company. Bledsoe Capital Group, founded in 2007 by the 14-year NFL veteran and Montana attorney Chad Wold, will receive a 33 percent stake in Ecosphere Energy Services LLC, a subsidiary of Stuart, Fla., water engineering and services firm Ecosphere Technologies Inc.

Allston plant woes drop Genzyme’s profit outlook

As a result of dumping the unfinished batches of Cerezyme, Genzyme will have to take an $8.4 million write-off in addition to the $14.2 million already announced. (more…)

NewsFlash Roundup: Joule Biotechnologies, North End Technologies, Verizon Communications

Monday, July 27th, 2009
New England Tech Stock Index

New England Tech Stock Index

Joule comes out of stealth, North End stays in stealth but gets some money, and Verizon cuts jobs in today’s NewsFlash Roundup.

Joule Biotechnologies comes out of stealth with solar-powered biofuel tech

The two-year-old clean tech firm founded and backed by Flagship Ventures managing partner Noubar Afeyan emerged from stealth mode Monday, announcing it is working on a large-scale test of its Helioculture technology, which uses the genetically engineered cells to produce fuels with the sun, wastewater and carbon dioxide.

Stealthy North End Technologies gets $1.2M in bridge funding

Landing a Series B “will allow us to bring a product to market,” Kayton said. What that product is has been a subject of much speculation, and Kayton would not reveal any details other than to say “we are in an alpha stage.”

Verizon to cut 8,000 positions; N.E. numbers unknown

Verizon Communications Inc. said it would 8,000 more positions by the end of the year as the company continues to be stung by a slowdown in corporate accounts. (more…)

OECD report: Worst may be over for tech industry

Monday, July 27th, 2009

The New York Times reports that the Paris-based  Organization for Economic Cooperation and Development plans to release a report this week saying the world tech industry may have turned a corner: 

Production of semiconductors, computers, mobile phones and other electronic equipment is still considerably below pre-crisis levels but has rebounded strongly from the end of 2008 and early 2009, the organization says in a report set for publication this week.

“Even a few weeks ago, we didn’t see the bounce-back in the data,” said Sacha Wunsch-Vincent, an O.E.C.D. economist. “We were still grappling with the size of the downturn. Now, this could be the turning point.”

NewsFlash Roundup: VistaPrint, Children’s Hospital, Ceradyne

Thursday, July 23rd, 2009

netsi072309Children’s Hospital helps out some mice who have had heart attacks, the former Diaphorm develops a new helmet for marines and Vistaprint gets bad news two times in today’s NewsFlash Roundup.  

Children’s Hospital research gets hearts growing new cells

The treatment could help heart attack victims or children with congenital heart defects, according to the hospital. In the July 24 issue of the journal Cell, the researchers show an injection of the growth factor neuregulin1 (NRG1) into an animal who has had a heart attack can stimulate heart muscle growth.

Former Diaphorm wins $1.2M for new Marine helmet

Defense contractor Ceradyne Inc. reports its Salem, N.H.-based unit has been awarded Marine Corps contracts worth approximately $1.2 million for new test helmets using advanced materials. 

Vistaprint slammed by IP lawsuit, bad analyst report

New Jersey-based ColorQuick LLC has filed a lawsuit alleging Vistaprint and OfficeMax Inc. (NYSE: OMX) have been illegally using a patented process for fast printing. Meanwhile, Citron Research issued a negative report on the company Tuesday, suggesting VistaPrint could lose 44 percent of its net income – the portion it derives from referral partnerships with third-party websites — as the U.S. Senate begins an inquiry into such online referral programs. (more…)

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