El Dorado's BluePoint to power Hawaii resort
El Dorado Hills-based BluePoint Energy Inc. on Tuesday announced a pair of 10-year agreements worth a total of $4.2 million to provide energy to a Hawaiian resort complex run by Starwood Hotels & Resorts Worldwide Inc., one of the world's largest hotel operators.
BluePoint makes "cogeneration" units fueled by either diesel or natural gas. Each of the two units being installed in Hawaii is roughly the size of a full-size passenger van and can produce 225 kilowatts of electrical power.
In addition to generating electricity, the units will capture some of the heat energy produced by the engine and use it to heat the resort boilers.
By making use of heat energy that would otherwise go to waste, cogeneration units like BluePoint's produce more useful energy from each gallon of fuel than do standard electrical generators.
Phil Malone, BluePoint's director of investor relations, said his company is talking with Starwood about similar deals at a number of its 850 other properties.
BluePoint installs each unit at a project site -- the Sheraton Kauai Resort Hotel, in this case -- and maintains ownership of it.
BluePoint went public in 2003 and trades on the Over-the-Counter Bulletin Board as Chapeau Inc. After opening the year at 20 cents a share, the company's stock traded as high as $1.85 in early June.
Since then, the stock has fluctuated between $1.20 and $1.80. It closed at $1.70 a share Tuesday, unchanged from its opening price.
BluePoint makes "cogeneration" units fueled by either diesel or natural gas. Each of the two units being installed in Hawaii is roughly the size of a full-size passenger van and can produce 225 kilowatts of electrical power.
In addition to generating electricity, the units will capture some of the heat energy produced by the engine and use it to heat the resort boilers.
By making use of heat energy that would otherwise go to waste, cogeneration units like BluePoint's produce more useful energy from each gallon of fuel than do standard electrical generators.
Phil Malone, BluePoint's director of investor relations, said his company is talking with Starwood about similar deals at a number of its 850 other properties.
BluePoint installs each unit at a project site -- the Sheraton Kauai Resort Hotel, in this case -- and maintains ownership of it.
BluePoint went public in 2003 and trades on the Over-the-Counter Bulletin Board as Chapeau Inc. After opening the year at 20 cents a share, the company's stock traded as high as $1.85 in early June.
Since then, the stock has fluctuated between $1.20 and $1.80. It closed at $1.70 a share Tuesday, unchanged from its opening price.
posted by ams at 11:41 AM
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