Green

On the GreenBeat: Tessera sells Imperial Valley Solar project, Tesla posts fourth-quarter losses

Here’s the latest action we’re following today on the GreenBeat:

Tesla posts losses for fourth quarter — Electric car company Tesla released its fourth-quarter and 2010 earnings yesterday and said it would be looking to raise another $150 million to develop its all-electric SUV concept the Model X. The company posted $51.4 million in losses last quarter, up from $24.2 million in the fourth quarter of 2009. Revenues increased from $36.3 million for the fourth quarter, up 30 percent from the previous quarter and up from the $18.6 million in revenue posted the fourth quarter of 2009. Revenues for the full year of 2010 totaled $116.7 million compared to $111.9 million prior year. Tesla said it expects to increase revenues this year by 40 to 50 percent, reaching $160 million to $175 million in 2011. (The company’s all-electric sedan, the 2012 Model S, is pictured.)

Tessera sells solar project to AES — Troubled solar company Tessera said today it had sold the second of its major projects, the 709-megawatt Imperial Valley Solar project in California. The project was bought by AES Solar, a joint venture between the AES Corporation and Riverstone Holdings. Tessera sold its Calico solar project in California to power developer K Road last year, after Tessera was reported to be in trouble. Last year, a judge granted an injunction barring construction on the Imperial Valley project after a Native American group filed a suit against it.

Schneider Electric launches residential electric car charger — The building energy management gurus have been moving more and more into home energy offerings lately. The company announced today an electric car charging solution for homes that includes a delayed charging option and an LED display. A company statement cited a Pike Research report that estimates one million electric cars will be sold annually around the world by 2012, and three million electric cars will be in use that year.

OPX Biotechnologies to commercialize renewable acrylic — We wrote last week about how the future of biofuels companies now increasingly includes the making of renewable chemicals and other materials. Venture-backed OPX Biotechnologies announced today that it has hit performance and cost goals for its BioAcrylic product after 18 months of pilot-scale development. The company says its acrylic can be produced at a lower cost than traditional acrylic, which is derived from petroleum.

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