Renewable Energy Stocks Sector Close-Up as Oil Hits Over $130 Barrel; Recent Developments in Solar, Wind, Geothermal and Green Automotive Stocks

POINT ROBERTS, WA and DELTA, BC--(Marketwire - May 22, 2008) - www.RenewableEnergyStocks.com, a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on recent news and developments in renewable energy stocks as oil continues to set record highs.

Renewable Energy Sector Close-Up as of May 21, 2008

Geothermal stock, Essential Innovations Technology Corp. (OTCBB: ESIV) (FRANKFURT: E6S) announced it has successfully closed and funded a financing in the form of a convertible secured note in the amount of US $1,750,000.

Rotoblock Inc. (OTCBB: ROTB) recently announced it will acquire controlling interest in Hikom Gottell Corporation for US $25 million (US $25,000,000). The US-China venture intends to develop and manufacture small engines, air-conditioning systems and other consumer and industrial equipment.

XsunX, Inc. (OTCBB: XSNX), a solar technology company, announced today that it has signed an agreement with Praxair, Inc. (Market, News) for the supply of bulk industrial gases for its new multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facility near Portland, Oregon.

Electric vehicle pioneer ZAP (OTCBB: ZAAP) announced that Dubai's Al Yousuf Group has completed a transaction to purchase a convertible debt that was part of a private placement registration from October 2007.ZAP closed trading at $1.18 on 2,532,983 shares.

Ascent Solar Technologies, Inc. (Market, News) announced that the underwriters of its public offering exercised their over-allotment option to purchase an additional 570,000 shares of its common stock at $14.00 per share.

The Chicago Board Options Exchange launched trading in options on Market Vectors-Solar Energy ETF (Market, News), an exchange-traded fund.

Solarfun Power Holdings (Market, News), a manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, reported its unaudited financial results for the first quarter ended March 31, 2008 with Net revenue of RMB 1.20 billion (US$ 171.0 million), an increase of 529% from the fourth quarter of 2007. Solarfun traded 30,416,457 shares and was up 4.99%.

Publicly traded Suzlon Energy Limited, based in Mumbai, India, the world's fifth leading wind turbine maker with 10.5% of global market share, announced results for the financial year ended March 31, 2008, reporting 71% growth in revenues.

Fuel Tech, Inc. (Market, News) announced receipt of a $4.6 million contract for the supply and installation of NOxOUT® Selective Non-Catalytic Reduction (SNCR) technology on two newly constructed 600 megawatt coal-fired boilers in the People's Republic of China (PRC).

SunPower Corporation (Market, News), a manufacturer of high-efficiency solar cells, solar panels, and solar systems, announced it has completed design and construction of a new 1.4-megawatt solar electric power plant project in Hampyeong, South Korea.

For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of renewable energy and green stocks.

Featured Green Showcase Companies:

Solar Company XsunX (OTCBB: XSNX) is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. Visit Media showcase: http://www.investorideas.com/co/xsnx/default.asp or www.xsunx.com

Geothermal Company Essential Innovations Technology Corp. (OTCBB: ESIV) (FRANKFURT: E6S) provides cutting-edge Geoexchange solutions for residential, commercial and industrial applications as both a manufacturer of proprietary geothermal heat pump technology and as a Geoexchange energy service company. More info can be found on the Investorideas.com Showcase page at: http://www.investorideas.com/CO/ESIV/Default.asp or www.EITechCorp.com

Rotoblock Corporation (OTCBB: ROTB) is focused on the development and manufacturing of small engines and other energy-efficient and environmental equipment in China for distribution worldwide. Visit media showcase: http://www.investorideas.com/CO/ROTB/Default.asp

Electric car pioneer ZAP (OTCBB: ZAAP) has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. Visit media showcase: http://www.investorideas.com/CO/ZAAP/Default.asp

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