Green Equity - January 22, 2025
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
Oklo (OKLO) and RPower have partnered to deliver sustainable energy solutions for data centers through a phased approach. Initially, RPower's natural gas generators will meet energy needs, transitioning to Oklo's emissions-free Aurora nuclear powerhouses as they become available. This hybrid model ensures reliable power while reducing emissions, with nuclear energy eventually supplying most of the power and natural gas serving as backup.
ElectriGen LLC and Hyliion Holdings (HYLN) have partnered on a methane emissions reduction project supported by a $6 million U.S. Department of Energy grant. The initiative will deploy Hyliion's KARNO generators, which use a fuel-agnostic design to convert raw natural gas into near-zero-emissions electricity, reducing flaring and methane emissions in the oil and gas sector.
Vertical Aerospace (EVTL) has launched a $75 million underwritten public offering to fund the development of its VX4 electric aircraft, expanding testing and certification capabilities.
LanzaTech (LNZA) plans to spin out its synthetic biology platform into a new joint venture, LanzaX, in partnership with Tharsis Capital to accelerate project development and reduce costs. This strategic move will allow LanzaTech to focus on its core biorefining operations, including sustainable aviation fuels, while cutting annual expenses by $8 million. The company also appointed Justin Pugh as Interim CFO to optimize its cost structure and support its growth strategy.
LanzaJet (LNZA sub.) has chosen Teesside's Wilton International site in the UK for its next SAF production facility, named Project Speedbird. In collaboration with British Airways and Sembcorp Utilities, this ethanol-to-SAF plant will produce over 90,000 tonnes (30 million gallons) of SAF and renewable diesel annually. The facility is backed by UK government funding from the Advanced Fuels Fund.
EHang Holdings (EH) has launched an automated vertiport in Shenzhen, China, designed to support the commercial operations of its pilotless electric aerial vehicles (EAVs). EHang has conducted over 50,000 flights across 17 countries, establishing partnerships globally, including in Europe, the Middle East, and Southeast Asia. The company is advancing commercial operations in regions such as Shanghai, Thailand, and Saudi Arabia, with applications in tourism, logistics, and emergency services.
FuelCell Energy (FCEL) has secured a $160 million contract to build a 7.4 MW hydrogen-based fuel-cell power plant in Hartford, Connecticut. Under a 20-year purchase-power agreement, the plant will deliver Class 1 renewable baseload electricity to the local grid, supplying utilities Eversource and United Illuminating.
Comstock Fuels (LODE sub.) has entered into an agreement with Hexas Biomass to secure exclusive rights to Hexas' intellectual properties for liquid fuels applications. The collaboration combines Comstock's advanced lignocellulosic refining technologies, which produce up to 140 gallons of biofuels per dry metric ton, with Hexas' high-yield energy crops capable of delivering 25–30 dry metric tons per acre annually. This integration enables the production of up to 100 barrels of biofuel per acre per year, significantly outperforming traditional crops like soy and corn.
Ballard Power Systems (BLDP) is undertaking a global corporate restructuring to cut expenses by 30%, including workforce reductions and the departure of two executives. The initiative aims to address challenges posed by delayed hydrogen infrastructure development and slower-than-expected fuel cell adoption. The plan includes streamlining product development, consolidating operations, and reducing capital expenditures to maintain financial stability.
Hempalta (HEMP.V) is shifting its focus to nature-based carbon credits through its carbon registry subsidiary, Hemp Carbon Standard (HCS). The company plans to raise up to $1.5 million in a private placement to support this transition. Hempalta will focus on developing and marketing hemp-derived carbon credits, expanding farmer participation, and forming strategic partnerships with corporate buyers and ESG funds.