Green Equity - December 16, 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
Nano Nuclear (NNE) and Digihost Technology have signed an MoU to deploy a 60 MW nuclear microreactor at Digihost's North Tonawanda, New York power plant, targeting deployment in 2031. The microreactor will replace Digihost's existing gas and steam turbine infrastructure, supporting energy needs for Bitcoin mining and energy-intensive industries. The companies will collaborate on site preparations, design, testing, and regulatory approvals.
OriginClear (OCLN) announced that its subsidiary, Water On Demand Inc. (WODI), has mutually agreed with Fortune Rise Acquisition Corporation (FRLA) to terminate the Business Combination Agreement dated October 23, 2023. The decision follows delays in the registration process, which risked pushing the closing date to March 2025 or later, incurring additional costs and uncertainties.
Prime Drink Group (PRME.V) plans to acquire Olivier Primeau's Vlog Day Every Day media brand and Midway Group's marketing division to form Prime Influence Media, a new entity centralizing all its marketing operations. This strategic move aims to enhance visibility and drive growth for Prime's beverage brands and flagship events. The acquisition, valued at $2.25 million through shares, cash, and a promissory note, is subject to due diligence and regulatory approvals.
RE Royalties (RE.V) has provided $6.3 million in financing to Alpin Solar SA, a subsidiary of Alpin Sun, for a 200 MW solar project in Sturgeon County, Alberta. The project is expected to produce 386,000 MWh annually. The loan, carrying a 13% annual interest rate and a 12-month term, supports a letter of credit required by the Alberta Electricity System Operator. RE Royalties will also receive a $0.25/MWh gross revenue royalty for the project's lifetime.