Green Equity - December 18, 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
ChargePoint (CHPT) and General Motors are partnering to install up to 500 EV charging stations across the U.S. by 2025. These stations feature ChargePoint's Express Plus platform with speeds up to 500 kW and Omni Port connectors.
Oklo (OKLO) has signed a Master Power Agreement with data center developer Switch to deploy 12 GW of its advanced nuclear Aurora powerhouses by 2044.
American Battery Technology (ABTC) has been awarded a $144 million grant from the U.S. Department of Energy to support the construction of its second commercial-scale lithium-ion battery recycling facility. Set to process 100,000 tons of end-of-life and scrap battery materials annually, the facility will produce battery-grade nickel, cobalt, manganese, and lithium hydroxide for the North American market.
GFL Environmental (GFL), a Canadian waste management company, is in exclusive talks with Apollo Global Management to sell its environmental services division for $8 billion. This division includes liquid waste management and soil remediation services. Proceeds from the potential sale, expected to be finalized in early January, will help GFL pay down $3.5 billion of its debt, repurchase shares, and support corporate operations.
New Public Listings
Decent Holding, a China-based wastewater and river treatment provider, has filed for a $6 million U.S. IPO, offering 1.5 million shares at $4 to $4.50 each. The company, which also sells microbial products for water quality enhancement, reported a 70% drop in revenue to $2 million for the six months ending April 2024 and negative adjusted EBITDA. It plans to list on the Nasdaq under the symbol DXST.