Green Equity - August 5, 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
Aqua Metals (AQMS) is progressing with the development of its Sierra ARC facility, a commercial-scale black mass recycling plant for lithium-ion batteries, achieving milestones such as a 5 MW power upgrade and equipment installations. However, the company faces financing challenges due to the suspension of a $33 million credit facility, prompted by high interest rates and falling lithium carbonate prices. In response, Aqua Metals has implemented cash preservation measures, including workforce reductions and cost deferrals, while exploring alternative funding options.
PureCycle Technologies (PCT), a plastic recycling firm, has appointed Daniel Coombs as the new non-executive chairman of its board, effective August 5, 2024. This appointment comes after Coombs completed his second term as Executive Chair. As part of this transition, he will receive a $225,000 bonus.
Hyliion Holdings (HYLN) has signed a non-binding Letter of Intent (LOI) with Flexnode, a digital infrastructure company, to supply up to 10 KARNO generators. The initial deliveries are expected to begin in 2025. This partnership aims to support Flexnode's goal of enhancing digital infrastructure standards, particularly in the realms of artificial intelligence and machine learning, by offering reliable and clean on-site power generation.
Carbon Done Right (KLX.V), a carbon project developer, has announced a delay in its plans to dual list on London's AIM Exchange due to market conditions in the UK and Canada, as well as delays in completing the 2023 financial audit. The company is seeking alternative funding to advance its projects and secure agreements with corporate buyers while continuing to develop its portfolio and expand project efforts.