Green Equity - July 15, 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
Zapp Electric Vehicles Group (ZAPP) announced that its i300 urban motorcycle has received single vehicle approval from the UK's Driver and Vehicle Standards Agency, allowing it to be used on public roads. The company expects to deliver the first i300 units to customers in the UK by August 2024, with a broader commercial rollout in Europe and Asia to follow.
Gevo, Inc. (GEVO) reported record renewable natural gas (RNG) production levels, reaching an annualized rate of approximately 402,000 MMBtu in May, surpassing the previous record of 401,000 MMBtu in March. Gevo's RNG is produced from methane biogas captured from dairy farm manure digesters, which is then upgraded to pipeline-quality RNG and injected into the local gas pipeline.
Northstar Clean Technologies (ROOF) has received a patent from the Canadian Intellectual Property Office for its front-end technology for reprocessing asphalt shingles, which will remain valid until 2042. This patent complements two patents already issued by the U.S. Patent and Trademark Office for both the front-end and second-stage technologies of their four-stage asphalt shingle reprocessing process.
Carbon Streaming Corporation (NETZ) announced that the State Administrative Court of Jakarta has voided the Indonesian Government’s Ministry of Environment & Forestry’s revocation of the Business License for the Rimba Raya Project. The court's decision allows PT Rimba Raya Conservation to resume project activities while the Ministry has 14 days to appeal the ruling. Disputes are still ongoing between the developer of the Rimba Raya project and the land’s concession holder.
Amprius Technologies (AMPX) has announced a strategic initiative to boost global production capacity of its SiCore™ lithium-ion batteries through new manufacturing partnerships, securing over 500 MWh of production capacity.
Price Targets & Reports
Truist Securities maintained a Hold rating on QuantumScape (QS) shares with a steady price target of $6.00. As of writing this post, the stock price sits at $8.62.
New Public Listings
China-based hydrogen-powered vehicle manufacturer Huture plans to go public in the U.S. through a merger with Aquaron Acquisition, valuing the combined company at $1 billion.