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AEI NEWSLETTER ISSUE 25:

2nd May - 27th May 2008

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The aim of this newsletter is to complement the news-based website, with a primary focus on price-based information over the previous period and to advise of forthcoming company announcements (see bottom) and IPOs.

Winners and losers: 2nd - 27th May 2008

THE WINNERS

1. Quantum Fuel Systems Technologies Worldwide +105.22%

On the 27th May, Quantum's 25 % owned German solar partner, Asola Advanced, won a $17m contract to supply solar modules from Sunworx GmbH.. This comes a week after announcing an expansion of the solar plant capacity to 45 MW.

2. Solarfun Power Holdings +71.18%

On May 21st, Solarfun reported a profit on a Q1 basis, well in advance of Wall Street estimates. The company has successfully offset the rising cost of polysilicon by raising the selling cost of its pv cells and modules.

3. Energy Conversion Devices +68.31%

On the 8th May, ECD posted much better than expected results for the fiscal third quarter, more than doubling revenue to $70m for a profit of $7m. Analysts had predicted a loss on sales of $66m.

4. Verbio Vereinigte Bioenergie +53.91%

Having recently reached new all time lows in April, Verbio has come bouncing back in mid-May on Q1 results, showing an increase in sales of 21% to EUR 125m. This news follows on from the appointment of a new Chairman at the beginning of April.

5. PowerFilm Solar +50.00%

PowerFilm, a London-listed developer and manufacturer of thin film solar panels, is coming off its early May lows, lifted in part by largely positive results from other solar companies. And although polysilicon prices are forecast by many to start falling from next year, the limited exposure of amorphous silicon used by PowerFilm and other thin film manufacturers has turned them into the fasting growing niche of solar power.

THE LOSERS

1. Australian Renewable Fuels -53.85%

ARF announced earlier this month that is considering selling land near its Picton plant and even its Adelaide operation in order to raise funds and continue operations.

2. Medis Technologies -29.22%

Medis reported a Q1 net loss on the 13th of May of $14.79m. The company appears to be still having trouble in rolling out for retail sale its signature product, the Power Pack, for charging mobile phones and portable devices.

3. Questair Technologies -23.81%

QT is now down 85% from a year ago. On the 15th May, the company reported unaudited Q2 results, showing revenues in the range of CAD $11m to $12m for fiscal 2008. The company is working on hydrogen purification technologies and has just closed a deal to supply a hydrogen purifier to a plant in Mexico.

4. D1 Oils -22.12%

On May 22nd, D1 Oils announced plans to make 20 staff redundant. This came the day after the replacement of their finance director and more recently, some heavy criticism for its yield projections from their jatropha crops.

5. Innergex Renewable Energy -18.79%

Wind and Hydro developer and operator Innergex released Q1 results on May 14th. They showed revenues of $1m versus $1.8m the year before as well as a loss of $5.5m.

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FORTHCOMING COMPANY DATES & IPOS

COMPANY - Effective Dates (mm/dd/yyyy) - Corporate Action

GAMESA CORP TECNOLOGICA 05/29/2008 - ANNUAL GENERAL MEETING

SUNWAYS AG 05/29/2008 - ANNUAL GENERAL MEETING

SUNTECH POWER HOLDINGS 05/29/2008 - Q1 2008 EARNINGS

VRB POWER SYSTEMS 05/30/2008 - ANNUAL GENERAL MEETING & Q1 EARNINGS

UQM TECHNOLOGIES 05/30/2008 - Q4 2008 EARNINGS

ERSOL SOLAR ENERGY 06/03/2008 - ANNUAL GENERAL MEETING

PHOENIX SOLAR / SONNENSTROM AG 06/03/2008 - ANNUAL GENERAL MEETING

CHINA BIODIESEL INTERNATIONAL 06/04/2008 - ANNUAL GENERAL MEETING

CENTROSOLAR AG 06/05/2008 - ANNUAL GENERAL MEETING