ALG Western Oil (Pty) Ltd, a subsidiary of Odyssey, is currently operating in a joint venture with Xstrata Alloys, a subsidiary of Xstrata Plc (LSE: XTA), the world's largest producer of ferrochrome in a project at one of Xstrata's ferrochrome smelters near Rustenburg in South Africa to capture and sequestrate the carbon dioxide emissions thereby creating carbon credits.
Currently all the carbon monoxide from the ferrochrome smelters is flared to carbon dioxide and released into the atmosphere.
The current phase is the growing of a selected algae strain in photo bio-reactors, utilizing the carbon dioxide (CO2) flue gas coming from the exhausts of the generators, (with the aid of sunlight and some nutrients, through the process of photosynthesis) to sequestrate the environmentally harmful CO2 emissions and produce high value compounds like vegetable oil which can be used directly as a bio fuel instead of diesel and or jet fuel, carbohydrates and protein to be used in the animal feed industry and the release of oxygen back into the atmosphere.
What They Do: Odyssey Oil and Energy (OOGI) is a green technology company with two separate operating entities, one deals in carbon sequestration and one deals in advanced battery technology.
ALG Bio Oil Ltd., is a wholly owned subsidiary that focuses on the bio-fixation of carbon dioxide emissions from various industrial processes to produce carbon neutral products and the release of oxygen into the atmosphere.
ALG is currently operating in a joint venture with Xstrata PLC the world’s largest producer of ferrochrome in a project at one of Xstrata's Ferro-chrome smelters near Rustenburg in South Africa to capture and sequestrate the CO2 off gas emissions. Currently all the (CO) carbon monoxide off gas from the ferrochrome smelters is flared to (CO2) carbon dioxide and released into the atmosphere.
H-Power (Pty) Ltd., is 51% owned by OOGI, it has advanced battery technology and know-how to jumpstart a new wave of battery knowledge globally with registered patent rights. This innovation not only revolutionizes the functionality of conventional battery power but also provides for novel methods of using battery power with the added potential of reducing CO2 emissions and thereby also reducing conventional energy’s overall carbon footprint.
Verizon Communications (NYSE: VZ) $31.50. Today announced that consumer demand for the company's wireless, broadband and video products in the second quarter 2009 showed resilience despite the U.S. recession, as the company added a high number of new FiOS customers and posted another strong quarter of wireless growth. Verizon continued to generate improved cash flow and, in the midst of a challenging environment for business sales, the company continued to grow consolidated revenues.
Verizon reported diluted earnings per share (EPS) of 52 cents in the second quarter 2009, compared with 66 cents per share in the second quarter 2008. On an adjusted basis (non-GAAP), second-quarter 2009 earnings were 63 cents per share, compared with second-quarter 2008 earnings of 67 cents per share.
Verizon's total operating revenues grew 11.3 percent to $26.9 billion, compared with the second quarter 2008, including revenues from Alltel Corporation, which was acquired in January 2009. On a pro forma basis (determined by consolidating the operating results of Verizon and the former Alltel as though the acquisition had occurred on Jan. 1, 2008), operating revenue growth was 1.9 percent.
What They Do: Verizon Communications is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers.
Tellabs (Nasdaq: TLAB) $5.77. Today announced second-quarter 2009 revenue totaled $385 million, compared with $432 million in the second quarter of 2008. More than half of overall revenue came from growth products, including the Tellabs® 6300, 7100, 8600 and 8800 systems and professional services.
Tellabs earned $16 million or 4 cents per share on a GAAP (U.S. generally accepted accounting principles) basis, compared with $39 million or 10 cents per share in the year-ago quarter, which included a tax benefit of 9 cents per share.
On a non-GAAP basis, Tellabs earned $33 million or 8 cents per share, up 95% from $17 million or 4 cents per share in the year-ago quarter; this comparison also excludes a tax benefit of 9 cents per share in the year-ago quarter. Non-GAAP results exclude pretax charges of $16 million, which includes $6 million or 1.0 cent per share in equity-based compensation expense. Tellabs' non-GAAP operating income was 10.5% of revenue in the second quarter of 2009, the highest since the third quarter of 2006.
GAAP gross profit margin was 43.5% in the second quarter of 2009, compared with 34.7% in the year-ago quarter. The company generated $64 million in cash from operations and added $58 million to its cash, cash equivalents and marketable securities, which rose to more than $1.2 billion.
What They Do: Tellabs helps telecom service providers, independent operating companies, MSO/cable TV companies, enterprises and government agencies get ahead by adding revenue, reducing expenses and optimizing networks.
Corning Incorporated (NYSE: GLW) $17.00. Today announced its results for the second quarter of 2009, as well as its expectations for the third quarter. Sales were $1.4 billion, up 41% sequentially. Earnings per share were $0.39. Excluding special items, EPS was $0.39,* an increase of 290% sequentially. Display Technologies combined glass volume, including Corning’s wholly owned business and Samsung Corning Precision Glass Co., Ltd. (SCP), increased 66% sequentially. Volume in the company’s wholly owned business improved by 101% sequentially, while SCP’s volume increased by 50%. Gross margin was 41%, an increase over first-quarter gross margin of 27%. Equity earnings increased 85% over the previous quarter.
What They Do: Corning Incorporated is the world leader in specialty glass and ceramics. Drawing on more than 150 years of materials science and process engineering knowledge, Corning creates and makes keystone components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences.
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