Alternative Energy: Batteries & Wind Power
A new column, The Midcap Market, in Forbes Magazine written by Vahan Janjigian, took an interesting approach in the October 13, 2008 issue [Isn’t it interesting how magazines date their issues 2 weeks in the future?] He recommends 2 stocks that are not normally called green energy stocks. The first is EnerSys [NYSE: ENS ]. It makes lead-acid batteries, rather than the fancy lithium ion batteries in the news frequently & its roots go back to 1888, rather than being founded in the 21st century. The lead acid batteries can be used to store electricity in residential or commercial facilities that are using solar power or wind power, so that electricity is available at night or other times when the sun isn’t shining.
The other company that Janjigian recommends is Trinity Industries [NYSE: TRN ]. It is the largest manufacturer of railcars in North America. However, it also manufactures high pylons that support wind turbines. Trinity sold $106 million of the towers in 2Q 2008 and has a backlog of $1.5 of orders.
One might want to wait for the current turmoil in the stock market and economy to settle before purchasing stock in these companies.
