Alternate fuel will spawn next big investment trend

Since this is the last Bizword column I'll be writing, I'll leave you with my thoughts on the next big thing in investing
Two words - alternate energy - cover it.
Alternate energy runs a spectrum from biofuels, geothermal power, wind power, energy-saving technologies to solar power.
This column will review solar power companies and one or two others. Just a cautionary note first.
Most of the companies mentioned are in pre-commercial stages and involve large risks. Many still require government subsidies to stay viable.
Do your homework thoroughly.
Solar energy has been around a long time, but until now has been too expensive to compete. More efficient capture of the sun's power combined with fossil fuel prices bring solar closer to first base.
The newest product in solar energy is thin film. It can become part of roofing and produce energy. These flat panels capture from two to four per cent of the sun's energy compared with 15 per cent to 18 per cent for the more expensive photovoltaic panels.
Photovoltaics need higher quality silicon and are more expensive to apply.
Arizona-based First Solar Inc. has become a leader in thin film technology and conventional panels.
Priced at $202 US a share, it seems over-priced. It is. Market value is a rather steep 45 times annual revenues. The price, up from a low of $50, reflects over-enthusiasm with thin film leadership.
Open Energy Corporation of Solana Beach California has developed a technology to concentrate energy in thin cells. SolarSave technology is just part of operations. Open Energy's big role will be integration and application process in the burgeoning California residential, commercial and industrial market.
The shares, priced at 29 cents with a high in the 50 cent range, reflect the large amount of shares - around 123 million and annualized sales of $6 million. That's hardly a bargain.
Chinese-based SunTech Power Holdings produces higher efficiency photovoltaic panels, pulling in 19 per cent of the sun's energy, and thin film flat panels. Cheap labour aids competitiveness.
Priced at $32 US with a high of $90 US, Suntech trades at 33 times earnings, not bad for a company with 50 per cent plus annual growth. It trades at 17 times annual $397 million sales.
Carmanah Technologies of Victoria, B.C., priced at 82 cents, has fallen from a high of $3.14 a year ago.
Losses and an unwieldy business model are being addressed by a new CEO. The business model has been streamlined to solar lighting, solar power for industrial equipment and lighting for commercial buildings.
The jury is still out on the new model but Carmanah trades at just over half the value of annual revenues.
Montreal-based 5N Plus makes powders and alloys from materials such as tellurium, cadmium, zinc, selenium, or compounds of them. Products are used in solar energy and applications that include medical imaging, thermal electric devices and infrared sensors.
Recently gone public at $3, 5NPlus shares range from $3.90 to $12.50, resting at a recent $10.65.
Total share market value is 13 times annualized revenues of $30 million.
Vancouver-based Westport Innovations, maker of fuel efficient systems and natural gas and hydrogen fuel systems for heavy trucks and buses, appears poised to start turning a profit.
Priced at $3, down from the high of $3.33, Westport trades about 10 times annualized sales. A joint venture with engine leader Cummins does well but the other division drags the operation down.
Finally, a watch list candidate from the biofuel sector H2Diesel of Houston, Texas, has the North and South American rights to a simple emulsion process that converts vegetable oil into electric power without any byproducts.
A pilot plant is demonstrating the process, which is aimed at the stationary power generation plant industry and a legislated need to clean up. The pilot project produces bodiesel at $1.99 US per gallon, compared with $2.81 for regular bodiesel plants.
Priced at $5.35 US, down from $9.85, H2Diesel has a mere seven million shares out and virtually no revenues.
On the ladder of development, H2Diesel stands where Westport and Carmanah were five or 10 years ago. The biofuel process must still prove viability in a larger scale plant.
Alternate energy shows promise of high rewards and steep competition. In solar energy, some analysts believe new technologies will replace the existing every 24 months, similar to the computer software industry.
Bizword columns do not solicit buying or trading of securities. Investors need to do their own homework or consult advisers.
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Hopefully my readers have enjoyed 10 years and about 400 Bizword columns as much as I enjoyed researching and writing them.