Green Equity - January 24, 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
Abaxx Technologies (ABXX) announced the closing of the final tranche of its non-brokered private placement financing, raising C$650,000 through the issuance of 50,000 shares at C$13.00 per share. A 15% premium to today’s stock price. Combined with an earlier tranche in November 2024, the financing totaled C$2,756,000. Proceeds will be used for corporate and working capital needs, including regulatory requirements for its Abaxx Exchange and Clearing operations.
Envirotech Vehicles (EVTV) announced the resignation of CFO William C. Miller, appointing company President Jason Maddox as Interim CFO. Maddox, who joined Envirotech after its acquisition of Maddox Industries in December 2024, brings extensive leadership and entrepreneurial experience.
LanzaTech (LNZA) has appointed Reyad Fezzani, CEO of Regenerate Power, to its Board of Directors. With over 30 years of experience in global energy and renewable innovation, including leadership roles at BP and Regenerate Power, Fezzani will provide strategic insights to support LanzaTech’s growth and deployment of its carbon management technologies, such as its waste-to-SAF solution, CirculAir.
Tidewater Renewables (LCFS.TO) has sold its stake in the Rimrock Renewables Limited Partnership to Biocirc Canada Holding for $7.8 million, receiving $4.7 million upfront and potentially an additional $3.1 million by December 30, 2025. The proceeds will be used to reduce debt on the company's first lien senior credit facility. CEO Jeremy Baines highlighted the company's continued focus on its renewable diesel facility and sustainable aviation fuel project. Tidewater retains its investment in Rimrock Cattle Company.