GWS Technologies (GWSC.OB) and Renewables Industry to Benefit from Stimulus Spending on ‘Smart Grid’Wednesday, October 28th, 2009
GWS Technologies is an alternative energy company that has been gaining much acclaim of late. Founded in 2005 in Scottsdale, Arizona, GWS became a fully-reporting company by March of 2007 and has had continued success since that time period. A recent announcement directed at stimulus spending will enhance GWS for years to come.
Yesterday, the White House stated that $3.4 billion will be allocated to modernize the nation’s electrical power system to more easily use renewable resources. The allocations of these funds came from the Obama administration’s American Recovery and Reinvestment Act of 2009 and were put into effect to fund smart grid projects across the country.
The availability of these funds will attract the attention of institutional investors because the money will be released in a form of a grant, being matched dollar for dollar by private funding. This new stream of capital will attract investors and allows for new advances within the industry.
One of the leaders at GWS is Richard Reincke who serves as the President and CEO of the corporation. Reincke has been with GWS since the formation of the company in 2005 and has become a renowned name in his field. Currently, Reincke is responsible for the day-to-day operations of the company including executing the company’s business strategy, negotiating and arranging distribution channels for microgeneration products, and the development of new proprietary renewable energy products and technologies.
When asked about how this stimulus spending will affect GWS, Reincke was quoted as saying, “One of the biggest obstacles to developing more wind and solar power on a utility-size scale has been the lack of transmission lines tied to an electrical grid that’s capable of delivering clean electricity from the best solar and wind sites to the point of use. Building a ‘smart grid’ will allow utilities to integrate renewable energy sources from distant locations with their existing generation sources and synchronize consumers’ energy use to coincide with maximum production times for wind and solar power.”
Currently, GWS is trading in the $0.80 range. With a stimulus package that is appealing to their industry and a strong management team in place, GWS is a company on the rise.
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