Power Air Raises Additional $2 Million and Capstone Turbine Invites ...
Power Air Corporation (OTC BB: PWAC) recently announced that it has raised an additional $2,000,000 through a unit private placement, bringing the total investment in the Company since becoming a public company seven months ago to over $4,000,000. A total of $6,000,000 had been invested prior to the reverse merger on September 30, 2005. Power Air raised the funds from sophisticated investors who are convinced of the commercial potential of its exclusive Zinc Air Fuel Cell (ZAFC) technology.
Heavy engineer ABB (NYSE:ABB) confirmed on Tuesday its German subsidiary ABB Lummus Global GmbH, rather than its separate U. S. Lummus unit, is a sub-supplier for a planned $451 million contract from an Iranian refinery. The contract had caused controversy last week when the refinery said ABB's Lummus had been awarded the contract and did not specify it was referring to the German unit. Washington bars U. S. firms from operating or investing in the Islamic Republic. Capstone Turbine Corporation
May 17, 2006
Posted By Jill Squires
Staff Editor, CasinoGamblingWeb.com
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