Green Equity - January 30, 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 filed a new U.S. patent application for a novel process design that enhances the implementation of its novel plastic recycling technology. The design, which integrates widely available industrial equipment like extruders in an innovative way, will be incorporated into the company's Next Generation Process (NGP) Pilot Plant, set for completion in Q3 2025. The company continues to advance its technology and engage with potential customers through its Customer Engagement Program (CEP).
Comstock Fuels (LODE subsidiary) has signed definitive agreements with Singapore-based SACL to expand its licensing for Bioleum refineries into Malaysia, adding to existing projects in Australia and Vietnam. The planned refineries will produce over 400 million GGE of renewable fuels annually from lignocellulosic biomass and vegetable oils, with a total construction cost exceeding $4 billion. Comstock will receive a 20% equity stake in each project, plus royalties and engineering fees. The company is also developing its own U.S. facilities, aiming for over 1.38 billion GGE per year of renewable fuel production.
LanzaTech is shifting its focus from platform development to commercial deployment as climate-tech funding slows. The company appointed Justin Pugh as interim CFO to drive cost efficiencies and scale operations. Despite a 17% decline in climate-tech venture funding in 2024, LanzaTech remains financially strong, securing $40 million from Carbon Direct Capital in August. It recently partnered with Haffner Energy on SAF production and launched LanzaX, a synthetic biology-focused spinoff.
Nikola's (NKLA) sale of battery production equipment to Mullen Automotive marks another step in its financial struggles as it seeks strategic options to stay afloat. Mullen, which has been expanding its battery production capabilities, now gains additional assets to support its U.S.-based manufacturing. Meanwhile, Nikola faces mounting financial pressure, with its stock hitting record lows and its cash runway uncertain beyond mid-2025.
ClearSign Technologies' (CLIR) $400,000 federal grant from the U.S. Department of Energy underscores the growing push for hydrogen adoption in industrial decarbonization. Their work, in collaboration with a major national laboratory, focuses on developing ultra-low NOx hydrogen burner technology. This initiative aligns with broader efforts to optimize industrial furnaces for hydrogen use, addressing key challenges such as flame positioning and fuel-air mixing.
NANO Nuclear Energy (NNE) has partnered with Thermal Engineering International (TEi) to design and fabricate primary and secondary heat exchangers for its ODIN portable microreactor. TEi, a leading heat transfer technology provider, will contribute expertise to optimize performance and safety. This collaboration marks a key milestone in ODIN’s development, supporting prototype construction, testing, and eventual market introduction.