Green Equity - August 7, 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
Dragonfly Energy Holdings (DFLI) has entered a strategic partnership with Stryten Energy to license and distribute its lithium-ion batteries globally, in a deal valued at up to $30 million. This agreement allows Stryten Energy to market these batteries in new business-to-business markets, including military, automotive, marine, and golf carts, while Dragonfly continues operations in existing markets like RVs and off-grid properties. The deal includes an upfront payment of $5 million to Dragonfly, followed by royalties based on product volume.
Centrus Energy (LEU) has announced the addition of two new members to its Board of Directors: Stephanie O'Sullivan and Ray Rothrock. O'Sullivan brings extensive experience in national security from her tenure in the U.S. Intelligence Community. Ray Rothrock, with a background in nuclear engineering and venture investing in energy technology, joins the board to help advance Centrus' efforts in innovative clean energy technologies.
Origin Agritech (SEED), a Chinese agricultural technology company, has appointed Li Yang as its new Chief Operating Officer and a member of its Board of Directors. Li Yang brings over 20 years of experience in investment activities and corporate management, having held key positions in several prominent companies listed on Hong Kong stock exchanges, such as Executive Director of Asia Television Holdings Limited and Vice Chairman of China Best Group Holdings Limited.
Aduro Clean Technologies (ACT), a recycling technology developer, announced the granting of 2,685,000 stock options to certain directors, officers, employees, and a consultant of the company. These stock options are exercisable at $2.00 per common share for a period of five years from the date of the grant, with a vesting schedule of two years and a hold period of four months and one day.
Northstar Clean Technologies (ROOF) has announced a $14.0 million royalty transaction with CVW CleanTech (CVW), which includes a secured convertible debenture to fund the development of two future Northstar facilities. The transaction consists of two funding tranches: an initial $1.5 million unsecured debenture and a subsequent $12.5 million debenture convertible into revenue royalties for Northstar's next asphalt shingle reprocessing facilities. This partnership aims to accelerate Northstar's growth by providing immediate funding for facility development, increasing financing options, and minimizing near-term equity dilution. The deal is subject to regulatory approvals and is expected to close by mid-September 2024.