NCET

Altair Nanotechnologies burned through $14.6 million in cash during the first quarter, and its new chief financial officer says the company needs to get the burn rate under control quickly.

Even after some one-time expenses — employee bonuses, payments to investment bankers — are backed out of the first quarter number, Altair was burning through $2.64 million in cash each month.

“That’s too high for a company with our current revenue stream,” Chief Financial Officer John Fallini told investors in the publicly held company last week.

He said Altair’s management team, including interim President Terry Copeland, is focused on projects that are expected to generate revenue quickly. Read full story:

Technorati Tags: Altair Nanotechnologies, Northern Nevada Business Weekly, John Fallini, AES Corp., NCET, Nevada’s Center for Entrepreneurship and Technology

…

When Michael Yackira succeeded Walt Higgins as chief executive officer of Nevada’s investor-owned electric utilities last summer, the energy world was changing.
The Western energy crisis of 2000 and 2001 defined Higgins, a 63-year-old retired Navy captain and former submarine officer. Higgins endured six years of sometimes bitter battles with Enron Corp., challenges in rate cases and the Southern Nevada Water Authority’s unsolicited buyout offer for Nevada Power Co. When Higgins turned the wheel over to Yackira, most observers expected calmer seas for the new boss. Read full story:

Technorati Tags: JOHN G. EDWARDS, Las Vegas REVIEW-JOURNAL, Michael Yackira, Walt Higgins, Nevada Power Co., Sierra Pacific Resources, Ely Energy Center, Horizon Asset Management, Public Utilities Commission, Bureau of Land Management, NCET, Nevada’s Center for Entrepreneurship and Technology

…

Owning a business offers many difficulties that make people wonder if they can hack it as sole proprietors. Owning a family business brings different kinds of challenges, but it is refreshing to see a family business thrive because its employees have each other. here’s a success story of a business that was established because of the talent and hobby of the founder’s mother, but soon became the enterprise that needed the skills and flair of each family member. Read more:

Technorati Tags: Bob Tibesar, Quiltique, Karen Durkin, Houldsworth, Russo & Co., NCET, Nevada’s Center for Entrepreneurship and Technology

…

Sierra Nevada Corp.,  a Sparks-based system integrator and electronic systems provider, has signed a contract with global satellite data communications company ORBCOMM Inc., involving several next-generation satellites. The deal is tied to the construction of 18 new ORBCOMM Generation 2 or OG2 satellites, with an option to buy up to 30 additional satellites to upgrade ORBCOMM’s existing satellite constellation. Read more:

Technorati Tags: Jason Hidalgo, Reno Gazette-Journal, Sierra Nevada Corp., Sparks, ORBCOMM Inc., i Boeing Intelligence and Security Systems, ITT Space Systems, SNC subsidiary MicroSat Systems, Fatih Ozmen, NCET, Nevada’s Center for Entrepreneurship and Technology

…

Chulsung Bae, assistant professor of chemistry in the UNLV College of Sciences, has received a five-year, $450,000 Early Career Development Award (CAREER) from the National Science Foundation for his research on fuel cells - technology considered critical for meeting energy needs in the twenty-first century. Each year NSF recognizes outstanding scientists who, early in their careers, show exceptional potential for leadership at the frontiers of knowledge. The CAREER award is the highest honor bestowed by the United States Government on scientists and engineers beginning their independent careers. Read more:

Technorati Tags: Chulsung Bae, UNLV College of Sciences, National Science Foundation, Ron Yasbin, G. K. Surya Prakash, George A. Olah, Brian Hedlund, Frank Van Breukelen, NCET, Nevada’s Center for Entrepreneurship and Technology

…