Erin Ailworth, Boston Globe, on 1366 Technologies
Feb 1, 2013|
Erin Ailworth, Boston Globe, on 1366 Technologies
Transcript - will not be 100% accurate
Welcome back into the financial exchange it is 933. -- -- Thursday in every -- that bell goes off folks you know what my screen goes blank because those numbers are still moving and I get nothing in front of me. Basically except the fact that oil is down 53 cents -- -- 741. Gold is trading down 10821670. And -- that's like. Yeah about actually look at your company only about how delayed at ballot something you know it could -- the Dow is down thirteen points S&P is down eight. NASDAQ is slightly down at 3141. Let's remind everybody about our contest today to June OK so you know what we've got a four pack. Of ski passes with tickets to watch use that mountain you've got to be the 25 caller. -- the number 80882052263. When he fifth caller get a -- face I am -- you know the password which is. Emergency fund. So we are joined by Aaron -- -- from the Boston Globe Aaron good morning -- -- You haven't well and -- I just told our audience that your story should have been front page of the Boston Globe and it wasn't. -- Tell us about thirteen 66. Technologies if you would. Until they are paying. Color we are. Manufacturing. Anti Ian black -- and out there. Bedford and the solar wafers essentially the big component that you make solar cells which are. What makes up a solar panel. Okay now they just secured they did the six billion that the used to build their plant in Bedford they get that was venture capital money right. Yet they open their play and Bedford yesterday it was all -- to quit. -- investor but they they security. 150 million dollar loan guarantees from the Department of Energy. In 2011 but. As part of that. Being you know they had essentially not -- -- and it said that they won't touch it until they prove. What this demo plant that their. Technology work. You know now the my question is. After the fiasco is associated with the battery maker a 123. Evergreen Solar curt Schilling's company down in Rhode Island Solyndra I mean the list goes on and on failed companies after failed companies. Howell in the Europe today secure 150 million dollars to some this is Massachusetts -- I understand. -- -- -- Years ago -- -- And appoint for your money and do you mean they'd like it. From what what they called me yesterday actually do. Okay you know. -- persuaded the department argued that they were eight. But knowing me. The climate. In the tech industry it was all of these spelled -- Thirteen. And acted in. And we don't we we want you -- award. But we want you'd also like another ignorant and place we use it shall we -- here that we. Shall. Right now. All right now what what about Theodore O'Neill he's a pretty well respected. Energy analyst technology analyst at a Connecticut. Did he did not sound terribly bullish on this project. He is not some other car and -- what -- you talk you. You'd think he doesn't think that going to work and -- many reader or that we all in. In the story that. But he is and and I think it technology. And it's. But other analysts. Analysts at Lux research that says no because this company in the country in making -- earth using. Elect a car crash and -- more prospect that it doesn't stand a chance. What's to stop the Chinese from stealing the technology. That's what they do historically. Well I mean it's competition -- and -- -- that can be attacked. Stay out there. Why why manufacturers. Do what what what's the attraction like. Is there something about I'm trying to figure out why they would manufactured in Maine Massachusetts as opposed to Mexico. Or China -- you know somewhere wreaking labor for two dollars an hour as opposed to their price paying their tax. 4050 bucks an hour. Well -- remembered -- this. There's technology. Help combat has come back and MIT it ain't got they've got a operation here already and there's relatively young company now I mean. I can't speak Q and management in venture all of that won the support that they had gotten. As persuaded them to an extent to stay here and you know in addition to bat again. BO is not so bullish. Because poly silicon prices and and competition actually likes other technologies that are not but the looks. Research analyst that spoke cue up that -- like the pilot that even if it. -- -- -- And they're long they keep. Working on the efficiencies that they will be able to fracture. And look I I hope the technology works I I you know I hope solar technology works and at that this company's successful. I get nervous when government subsidies are involved because that means the vet the private markets. Don't believe in the technology -- if this was such a great technology you'd have to venture capitalist lined up from here to -- in order to invest it. Well and -- am you do have some maker venture capitalist who are -- -- you know -- on corporate partners that are. Now now speaking of failed energy companies -- 123 also wrote about that today's globe it looks like the states get back some of the money that they invested in this company. Yes and went to Rio. He expand their tails you -- angry right out at our our. And -- -- and that. Was completed. This week they got approval. This -- -- -- on orange. Our investment in the US. And they were able to expect -- as -- It has -- To help cover. Part a load that would give it like pre few years it but in dollars. -- basically -- hit -- -- Forget about half of that line yeah. This -- we're getting back. Basically covers the other half plus you know it should be better. That's a bargain compared to ever -- The. Read it if we. More than more than nine and and -- expect. I don't know what else you. Artery and unfortunately. I went out and act act in view. How. How their best support thirteenth -- Circled around -- being -- be more moderate. And can't wait more compact and. Good and Aaron thank you very much for your time we appreciate. She's I just decided June she is my favorite reporter over the globe. She's number one she's number one that's it's gonna break into -- You know rep Stephen Lynch via supposed to jump in and you know -- for Kerry's seat well -- -- deliberately Iran's and it press conference he said he did it on YouTube are different and talk about grassroots there you go. Is finally somewhere -- walk is really pissed right now he didn't he did he didn't do his FaceBook thing he continue to. I haven't checked his face that the announcing. A minute it's.