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State lawmakers approve Calisolar incentives package - The Dispatch - 0 views

www.cdispatch.com/...article.asp

CleanTech columbus Correnti Mississippi

shared by Yadkin River on 23 Dec 11 - No Cached
  • John T. Correnti, former CEO of SeverCorr (now Severstal) of Columbus, has served as chairman of the company''s board of directors since 2010 and reportedly has maintained close ties with Mississippi. The company has been in negotiations with Ohio officials since April, but the deal fell through in July when company representatives told the Mansfield News Journal in Mansfield, Ohio, that they were unable to meet a September construction deadline to qualify for a $275 million federal loan guarantee. Higgins said Lowndes County''s ability to meet Calisolar''s high power needs (nearly 170 MW of power, or roughly 40 MW more than the entire city of Columbus), along with Mississippi''s status as a right-to-work (non-union) state and the willingness of legislators to pass an attractive incentive package, may have tipped the balance in the Magnolia State''s favor.
  • "The reason we''re coming here, and I''m going to be frank, is the Mississippi farm boys and the farm girls," Correnti said, according to The AP. "I wouldn''t trade a Mississippi farm boy or farm girl for any Russian, Chinese, Japanese, Mexican, South American.
  • AP reports that details of Mississippi''s incentive package include a $59.5 million loan for the building and equipment, with Lowndes County retaining ownership of the building and leasing it to them. The state is also providing $15.75 million for infrastructure and workforce training.
  • ...1 more annotation...
  • According to the U.S. Bureau of Labor Statistics, the state''s unemployment rate was 11.1 percent for July, and Lowndes County''s unemployment rate was 12.4 percent. The national unemployment rate is 9.1 percent, or approximately 14 million people.
Yadkin River

Press Releases * Calisolar - 0 views

www.calisolar.com/...expand_production.php

Calisolar Correnti LowndesCO Mississippi

shared by Yadkin River on 31 Dec 11 - No Cached
  • Its investors include Advanced Technology Ventures, Globespan Capital Partners, Good Energies, Hudson Clean Energy Partners, and Ventures West.
  • We are grateful to Governor Barbour, the Mississippi State Legislature, the Mississippi Development Authority, and Lowndes County
  • Calisolar was awarded a clean energy manufacturing tax credit as part of the American Recovery and Reinvestment Act
  • ...6 more annotations...
  • SMS Siemag
  • supplying the majority of the equipment to be installed at the Mississippi facility
  • San Antonio, Texas-based Zachry Holdings, Inc
  • engineering and building the facility
  • upport from the Tennessee Valley Authority
  • Lowndes County Development Authority
Yadkin River

Calisolar | Ceramic Tech Today - 0 views

ceramics.org/...calisolar

shared by Yadkin River on 05 Dec 11 - No Cached
    • Yadkin River
      Yadkin River on 05 Dec 11
       
      Yeah -- That has me scratching my Head Too.... Go Figure!
  • “The reason we’re coming here, and I’m going to be frank, is the Mississippi farm boys and the farm girls. I wouldn’t trade a Mississippi farm boy or farm girl for any Russian, Chinese, Japanese, Mexican, South American.”
  • At the time, Calisolar said it couldn’t meet construction deadlines linked to some state-based financial incentives.
  • ...3 more annotations...
  • a company spokesperson told me that the no other location was being contemplated
  • Those are nice incentives, but what doesn’t add up is that by shifting to Mississippi, Calisolar gave up a $275 million DOE loan guarantee and a deal through Ohio Public Utility Commission that would have saved the company $100 million in utility bills over ten years.
    • Yadkin River
      Yadkin River on 05 Dec 11
       
      No ... Did Correnti say that ?  Really ??
Yadkin River

Steel firm wants to diversify overseas - China.org.cn - 0 views

www.china.org.cn/...content_22068121.htm

development Correnti steel

shared by Yadkin River on 18 Dec 11 - No Cached
  • The company and the US-based Steel Development Company signed a deal in September last year to jointly build a steel rebar project in the US market. Total investment in the Mississippi steel rebar project is $168 million, with Anshan Steel taking a 14-percent share. Anshan Iron also plans to acquire nickel and chromium resources through overseas mergers or purchases, as the company considers building a stainless steel and specialty steel business to further diversify, Zhang said. Wang Min, Party chief of Northeast China's Liaoning province, where Anshan Steel is located, said the merger between Anshan Iron and Benxi Iron and Steel Group will make progress soon.
  • Yadkin River on 18 Dec 11
     
    The company and the US-based Steel Development Company signed a deal in September last year to jointly build a steel rebar project in the US market. Total investment in the Mississippi steel rebar project is $168 million, with Anshan Steel taking a 14-percent share. Anshan Iron also plans to acquire nickel and chromium resources through overseas mergers or purchases, as the company considers building a stainless steel and specialty steel business to further diversify, Zhang said. Wang Min, Party chief of Northeast China's Liaoning province, where Anshan Steel is located, said the merger between Anshan Iron and Benxi Iron and Steel Group will make progress soon. Anshan Steel announced in 2005 that it agreed to acquire Benxi Steel to form Anben Iron and Steel Group; however, the two firms have yet to transfer their operating assets to the new entity. The two companies' financial, sales and purchasing departments haven't been integrated. The move is a part of Anshan Steel's bid to reach an annual production capacity of 60 million tons in the next five years and to become one of the world's top five steelmakers by 2015.
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HCL Clean Tech Finds Sugar for Ethanol in Mississippi Woods | Green Prophet - 0 views

www.greenprophet.com/...hcl-cleantech-mississippi

hcl CleanTech Correnti miss sugar woods

shared by Yadkin River on 04 Jan 12 - No Cached
  • Interesting article but, let me shed some light with a few points of fact that nobody in the company will offer. One, at the time this article was posted, Eran was no longer CEO. Eran was deposed and a new CEO was hired in June of 2011. Two, the pilot in Durham was no longer operational (they’re trying to move it elsewhere) and proved nothing along the lines of this process being commercially viable. In actuality, far more was proven to the contrary. Three, the company is woefully behind on researching and proving their proprietary solvent extraction process which is the lynchpin to their success. The reality is they haven’t proven they can reliably make ANY sugar from wood on a pilot level, much less extract the acid THEN recover the acid and solvent. Bottom line, if you’re expecting sugars to be made from wood in Grenada in 2012, and most likely ever, don’t hold your breath. Unfortunately for Khosla, the DOE and the state of Mississippi, they will be forced to realize this in due time.
  • No problem, Karin. Happy to bring a touch of veritas to the table. Additionally, you could check the HCL CleanTech company website to verify the legitimate CEO is Philippe Lavielle and contact him for comment. You could also reach out to Steve Piccot, Director at Southern Research Institute in Durham, NC, and ask him who authored a certain $9 million DOE grant proposal.
Yadkin River

Monroe360.com - Miss lawmakers approve 3 job creation proposals - 0 views

monroe360.com/...rove-3-job-creation-proposals-

Correnti governor miss Calisolar IncomingGovPhiBryant

shared by Yadkin River on 04 Jan 12 - No Cached
  • Miss. lawmakers approve 3 job-creation proposals
  • Gov. Phil Bryant,
  • "The reason we're coming here, and I'm going to be frank, is the Mississippi farm boys and the farm girls," Correnti said. "I wouldn't trade a Mississippi farm boy or farm girl for any Russian, Chinese, Japanese, Mexican, South American."
  • ...6 more annotations...
  • to make silicon metal for use in automotive parts, consumer electronics and energy products, including solar panels. Developers said the Calisolar project — sought by Ohio, among others — should create 951 jobs with an average annual salary of $45,000, plus benefits.
  • Calisolar, based in Sunnyvale, Calif.
  • lawmakers approved just over $175 million in bonds
  • $75.25 million for the Calisolar project
  • MDA executives said the bond request for the Calisolar project includes a $59.5 million loan for equipment and a building that would be owned by Lowndes County and leased by the company. The package also has an $11.25 million grant for infrastructure such as roads and utility lines and $4.5 million to help train employees at the plant.
  • MDA said the rebates will cost the state $15 million over 10 years.
Yadkin River

Steel chief hits out at US-China plant critics - FT.com - 0 views

www.ft.com/...59-11df-a860-00144feab49a.html

Correnti steel CleanTech hydro china chinese Investors

shared by Yadkin River on 04 Jan 12 - No Cached
  • plan to build a steel plant in the US partly funded by one of China’s biggest steel companies has hit out at his critics, saying that objections to the scheme are a “ploy” by established US companies to block fair competition.
  • John Correnti, chief executive and part owner of Steel Development, which intends to construct a $168m plant in Amory, Mississippi, with the aid of investment by state-owned Anshan Iron & Steel, dismissed as “ludicrous” a claim by a group of US congressmen that the involvement of a Chinese company could potentially damage US national security.
  • Mr Correnti’s project in Mississippi – which he says is part of a bigger $2bn scheme to build a total of four steel plants in undisclosed locations US-wide – comes at a difficult time for the country’s steel industry which was severely affected by the 2008-09 economic crisis and is recovering only slowly.
  • ...3 more annotations...
  • It also exacerbates tensions between the US and China.
  • Parts of the US business community are concerned at what they regard as a “mercantilist” approach to industry by Beijing, under which the country is said to use levers such as the undervalued renminbi to help Chinese companies.
  • Tom Danjczek, president of the Steel Manufacturers Association, a trade group, which represents most of the large mini-mill companies, said his members “particularly objected” to the presence in Mr Correnti’s investment group of Anshan. That was on the grounds that the company benefited from Beijing’s assistance, in the form “of easy access to government loans and an artificially low currency”. State-owned Anshan benefited from such government help in a way that was denied to its competitors in the US, he said. In a letter sent in July to Tim Geithner, US Treasury secretary, a group of Congressmen representing steel producing districts claimed the planned involvement of Anshan in the Amory project could threaten US national security.
Yadkin River

The Curious Case Of Anshan Steel And The Space-Age Rebar Technology - Forbes - 1 views

www.forbes.com/...the-space-age-rebar-technology

amory ms steel development China Tracker chinese

shared by Yadkin River on 18 Dec 11 - No Cached
  • Fact: The manufacture of reinforcing steel bar — also known as rebar — is based on technology first developed by the Defense Advanced Research Projects Agency during the Cold War and commercialized by a joint venture between Dean Kamen and Stephen Hawking (the JV holds the patents, valued at over USD 75 billion). If the Chinese get their hands on advanced rebar technology, this would enable them to build concrete platforms robust enough to reach low earth orbit. The danger seems rather self-evident, so I expect that Geithner will recommend a CFIUS review of this transaction, which will result in Anshan being booted out of Mississippi, where they clearly don’t belong.
Yadkin River

Should the US Government Allow a Chinese Steel Mill to Invest in Steel Technology They ... - 1 views

agmetalminer.com/...vest-in-steel-development-corp

chinese steel development armory ms Correnti

shared by Yadkin River on 18 Dec 11 - No Cached
  • [Ed. Note According to a May 24 AMM post, the investment will also go toward building four re-bar plants (not one) and one flat rolled product mini-mill, all based in the US)
  • Dive under the surface a bit, and the investment by Anshan raises serious concerns not only among steel producers but also for any US manufacturing organization in general.
  • American national security infrastructure projects’ through the investment.”
  • ...8 more annotations...
  • Let’s examine rebar consumption. First, we’ll examine apparent consumption (apparent consumption is net domestic consumption plus imports) and then we’ll calculate capacity utilization: 2007 – 9.824m short tons 2008 – 8.374 m short tons 2009 – 5.359 m short tons 2010 – based on current 2010 run rates, the industry will ship 5.1m short tons If you compare the peak of the market (2007) with today, the US rebar industry operates at a 62% capacity utilization rate; the overall steel industry operates at a 72.9% capacity utilization rate as of June 26, 2010. Two rebar facilities are currently shut down, one in New Jersey and one in Oklahoma. Many of the other facilities that run both mixed merchant/rebar mills are also running at less than capacity If we were to develop a map of the United States and mark US rebar plant locations by geography (assuming each mill can ship up to a 300 mile
  • First, the last time the US steel market was at 120m tons of consumption was in 2006. The 2009 estimated steel consumption was 59m tons, data courtesy of the USGS. Prior to 2006, the only other year in which apparent steel consumption met or exceeded 120m tons was in 2005. The rest of this past decade, steel consumption hovered in the lower 100m ton range (e.g. less than 110m tons)
  • the question of technology transfer ought to be considered heavily
  • –Lisa Reisman
  • we’d see a glut of capacity in the US Southeast. The only argument one could make for building a rebar mill may be to move it somewhere out West, but even that may be a tenuous argument
  • And we all know that US construction markets (the biggest application for rebar products) remain in troubled waters. Take a look at annual expenditures for both commercial and residential construction here. Incidentally, 2010 data is tracking 8% below 2009 numbers. In other words, rebar capacity utilization rates are even less than overall steel industry capacity utilization rates
  • We can’t see the business case to add rebar capacity in the US. Clearly the PE firm involved in Steel Development Corp is banking on the management team.
  • If our politicians think this is about jobs, we can assure them that this may be a short term win (in terms of new jobs in Mississippi) – but they will result in a net loss for US manufacturing, as the current US domestic rebar industry has already laid off thousands of workers. And by giving this technology to the Chinese, well, we know what that will mean long term….
Yadkin River

New plant to impact timber industry most | The Natchez Democrat - 0 views

www.natchezdemocrat.com/...to-impact-timber-industry-most

CleanTech Correnti sugar woods

shared by Yadkin River on 04 Jan 12 - No Cached
  • plants to turn wood chips into cellulosic sugars that can be used in fuel, pet foods, cosmetics, lubricants and other products.
  • When the Natchez HCL Cleantech plant opens, Russ said, it will use 1 million tons of pine or softwoo
  • To put the figure into perspective, Russ said International Paper’s Natchez plant was using 1.2 million tons of wood a year at its peak before it closed.
  • ...6 more annotations...
  • “That’s very substantial — 1 million tons of wood (a year),” Ulmer said.
  • And since timber industries usually work 200 days a year, Ulmer said, hauling HCL Cleantech’s projected demand would mean 185 truckloads would be hauled a day.
  • “We have a vast resources of timber,” Ulmer said.
  • He said the supply of timber was constantly replenishing itself when IP was in town.“We have never cut our growth,” Ulmer said.
  • Sen. Kelvin Butler, D-Magnolia, said the area’s abundance of timber helped land the new company.“We’re just excited that they picked our area because they’ll be using pine, and that’s one of the resources we have right here in southwest Mississippi,” Butler said.
  • Johnson said the company has received more than $10 million in federal grants, some coming from the U.S. Department of Energy.
Yadkin River

Bond authorization clears way to bring HCL ClearTech to Olive Branch » The Co... - 0 views

www.commercialappeal.com/...bonds-boost-olive-branch-firm

Correnti miss

shared by Yadkin River on 04 Jan 12 - No Cached
  • uthorizing the bonds clears the way for HCL ClearTech, an Israeli company, to establish its U.S. headquarters in Olive Branch.
  • HCL ClearTech expects to invest $1 billion to create 800 jobs at an average salary of $67,000 a year.
  • HCL ClearTech's manufacturing process converts biomass to sugars that are used in industry. The company uses pine trees, among other things, to obtain cellulosic sugars which can be used in producing animal nutrition, cosmetics, lubricants and fuel, among other things. "We were drawn to Mississippi because the wood stocks are substantial," Cuneo said.
  • ...2 more annotations...
  • Calisolar's project would create 951 jobs with an average salary of $45,000 a year.
  • After an afternoon of committee meetings, House members finally approved the Senate version of the bonds bill on a vote of 109-4.
Yadkin River

djournal.com - Amory project among top 15 in country - 0 views

nems360.com/...roject-among-top-15-in-country

Correnti STEELDEVELOPMENT davidstickler MonroeJournal CleanTech governor AmoryMS chinese MonroeCountyMS

shared by Yadkin River on 04 Jan 12 - No Cached
  • Amory project among top 15 in country* Steel Development Corp. is building a $200 million plant that will employ 150 workers.By CHRIS WILSONMonroe Journal
  • Trade amp& Industry Development magazine has named Amory's steel mill project one of the top 15 projects in the country.
  • community-transforming
  • ...3 more annotations...
  • "But the current situation has not cooled our enthusiasm- or that of our equity capital investors - for our business model
  • Amory Mayor Howard Boozer has said "I don't think people have begun to fathom the impact this project will have on Amory, Mississippi."
  • Boozer said getting the steel mill project in Amory was the result of a lot of "blood, sweat and tears" from a lot of people. "I said then that failure was not an option.
  • Yadkin River on 04 Jan 12
     
    Dashed Hopes
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Senator: Solar company on Miss. session agenda - The Dispatch - 0 views

www.cdispatch.com/...article.asp

CleanTech miss ColumbusCO

shared by Yadkin River on 23 Dec 11 - No Cached
  • open a manufacturing plant that would create 900 jobs.
  • Brown told the AP that the new jobs could pay $40,000 to $50,000 a year. He said he didn''t know what kind of incentives the state will offer.
  • The state issues bonds as long-term debt to finance big projects such as construction or repair of highways or public buildings, or to provide incentives to lure companies to Mississippi. After legislators authorize bond debt, bonds are issued by the state Bond Commission, made up of the governor, the state treasurer and the attorney general.
Yadkin River

Link leader elaborates on new solar-silicon company - The Dispatch - 0 views

www.cdispatch.com/...article.asp

CleanTech ColumbusCO Mississippi Joe Higgins

shared by Yadkin River on 23 Dec 11 - No Cached
  • Yadkin River on 23 Dec 11
     
    Look for this to be Clean-Tech as Well -- or more likely, at the beginning of next year, to build the 1 million-square-foot facility. It will be located east of Industrial Park Road, on 258 acres directly behind Mitchell Beer Distributing in the industrial park and will take a year-and-a-half to two years to build.
Yadkin River

Costs, impacts of incentive deals » Mississippi Business Journal - 0 views

msbusiness.com/...sts-impacts-of-incentive-deals

shared by Yadkin River on 01 Mar 12 - No Cached
  • ncentives make sense when there is a good probability that the objectives of the one offering the incentives will be achieved
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