Green Equity - August 12, 2024
News about stocks involved in environmental markets.
Green Equity is a daily series dedicated to tracking emerging investment opportunities in environmental markets. Notable events include green investments, fundraising, M&A, and new public listings.
News From Public Companies
LiqTech International (LIQT) has secured a second U.S. order for its ceramic silicon carbide filtration technology, aimed at treating produced water in the oil and gas industry. The pilot system, to be delivered in Q3 2024, will demonstrate the technology's effectiveness for re-injection and reuse of produced water. Earlier this year, LiqTech launched a similar system with Razorback Direct, which has been running successfully, meeting regulatory and industrial requirements.
Eguana Technologies (EGT), a provider of energy storage systems, has announced a change in its auditor, switching from KPMG LLP to MNP LLP, effective August 9th, 2024. The change was made at the request of Eguana, with the new auditor appointed by the Board of Directors. There were no reservations or reportable events during KPMG's tenure as the company's auditor.
BluSky Carbon (BSKY), a carbon removal firm, has entered a strategic marketing agreement with Euro Digital Media LTD (EDM). EDM will provide BluSky with social media, marketing, search engine advertising, and consulting services, which may include investor relations activities. The agreement is effective immediately, and BluSky will compensate EDM $150,000 for its services.
Price Targets & Reports
TD Cowen has downgraded Ballard Power (BLDP) to Sell from Neutral, with a price target of $1.50, down from the previous target of $2.50. This downgrade was spurred by the company’s latest earnings call, during which Ballard’s management team mentioned industry headwinds are prolonging market adoption of hydrogen solutions.
New Public Listings
Chinese autonomous driving startup WeRide is pursuing a U.S. IPO with a valuation target of up to $5.02 billion. The company plans to raise approximately $119.4 million by offering 6.45 million American depositary shares. In addition, WeRide has secured commitments from investors, including Alliance Ventures and Robert Bosch GmbH, for a concurrent private placement worth $320.5 million.