Green Equity - January 23, 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
Aduro Clean Technologies (ADUR) has completed the Basic Engineering Design phase for its Hydrochemolytic™ Technology (HCT) Next Generation Process (NGP) Pilot Plant, a major milestone in the commercialization of the company’s recycling technology. Partnering with Zeton, Aduro is advancing the project toward installation and commissioning, expected in Q3 2025. The pilot plant will demonstrate the recycling of simpler feedstocks while developing expertise to handle more challenging materials. The company is also expanding its facilities in London, Ontario, to accommodate the project and future growth.
Electric vehicle maker Nikola is reportedly exploring strategic options, including a potential sale of parts or the entire company, as it faces severe financial challenges. The company has struggled with high production costs for its fuel-cell electric trucks and saw its cash reserves drop to $198.3 million as of September 2024, down from $464.7 million at the end of 2023. Nikola's shares have plummeted by 96% in 2024.
Electric Royalties (ELEC.V) has provided an update on key assets in its royalty portfolio. Notable developments include metallurgical progress at Quebec's Mont Sorcier Project, exploration successes at Chile's Punitaqui Copper-Gold Mine, resource updates at Australia's Graphite Bull Project, and new drilling targets at Norway's Råna Nickel Project. The company holds royalties across 41 assets and 29 optioned properties.
Limoneira Company (LMNR) has successfully sold water pumping rights from the Santa Paula Basin in three separate transactions totaling $1.7 million, with a valuation of $30,000 per acre-foot. The sales validate Limoneira’s strategic management of its extensive water resources, including approximately 9,000 acre-feet in the Santa Paula Basin and 21,000 acre-feet across other basins.
NANO Nuclear Energy (NNE) has acquired a significant patent portfolio from Ultra Safe Nuclear Corporation, bolstering its intellectual property protections for proprietary modular and transportable nuclear microreactors, including the ZEUS, ODIN, KRONOS, and LOKI systems. The patents, granted in multiple jurisdictions, cover designs for compact, portable nuclear generators capable of generating 10 to 45 MW.
Lightbridge (LBTR) shares surged 30% after announcing plans to study a partnership with Oklo (OKLO), a small modular reactor company backed by OpenAI CEO Sam Altman. The feasibility study will explore operating a commercial-scale fuel-fabrication facility alongside Oklo’s proposed Idaho site, focusing on reprocessing and recycling uranium-zirconium fuel.