Green Equity - August 21, 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
Bergen Carbon Solutions (BCS) is advancing its carbon capture and utilization technology, specifically enhancing carbon nanotube product specifications for the battery industry. The company has also opened a new Battery Lab to accelerate development and optimize processes with Morrow Batteries.
Vicinity Motor (VEV) has reached an agreement with its secured lenders, including the Royal Bank of Canada and Export Development Canada, to initiate a financial restructuring plan to address its outstanding credit facilities. The company has been granted a 60-day workout period to discuss revenue, debt structures, and reorganization initiatives. During this period, it will maintain limited operations and fulfill in-process deliveries. The company aims to return to full operations and stabilize its finances within the 60-day timeframe.
Gevo, Inc. (GEVO) has entered into a purchase agreement with Shell Global Solutions Deutschland GmbH to supply low-carbon-intensity fuel blendstock for motorsports. The press release did not provide additional details on the deal.
Price Targets & Reports
Stifel has resumed coverage of Eos Energy Enterprises (EOSE) with a bullish outlook, assigning a "Buy" rating and a $6.00 price target based on the company’s projected 2026 EBITDA. Eos Energy, known for its zinc-halide battery technology, is expected to benefit from the growing demand for renewable energy and battery storage solutions.