Energy Conversion Devices

The U.S. Department of Energy, or DOE, has awarded $156 million in funding for cutting-edge energy technology projects running the gamut from innovative plant-based fuels to conversion devices aimed at transferring utility-scale solar energy directly to the grid at much higher voltages than is currently possible.

Shares of rooftop solar technology and products company Energy Conversion Devices, Inc. (NASDAQ: ENER) (market cap $82 million) recovered slightly in early today after falling more than 14% Tuesday on huge losses in its Q3 2011 ended March 31, 2011, including a massive write-down of assets whose values have dropped in the face of declining sales. The company’s shares have fallen more than 66% in 2011 as the company has battled deteriorating sales, particularly in key markets France and Italy where governments have reduced solar power adoption incentives. 

Despite terrific share price appreciation over Q1 2011 for many clean energy companies, as demonstrated in our Saturday list of the TOP 20 performing companies in the EnergyBoom Clean 100 Index, not all companies in the sector ended the quarter with happy shareholders.

Here are the 10 worst-performing companies on the EnergyBoom Clean 100 Index January 3 through March 31:

EBOOM CAPITAL reported on Saturday that GT Solar International, Inc. (NASDAQ: SOLR) was the fourth best performing company in the EnergyBoom Clean 100 Index (E•B Clean 100) last week. Here are two other critical pieces of information about GT Solar.

First, the company’s shares have appreciated head and shoulders above other U.S.-based solar companies during 2010 -- up 43 percent so far this year. In fact, among the seven U.S. companies in the EnergyBoom Solar Subindex (E•B Solar), GT Solar is the only company in positive territory. 

A123 Systems, Inc. (NASDAQ: AONE) shares were down 10 percent in early trading today after reporting disappointing Q3 (ended September 30, 2010) financial results at the market close Tuesday. The quarterly financial results overshadowed the company’s announcement from earlier Tuesday that it will supply lithium-ion cells to SAIC Motor Corp., China’s largest domestic automaker, for use in an electric vehicle.