Green Equity - July 22, 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
Woodside Energy has agreed to acquire LNG developer Tellurian (TELL), including its Driftwood LNG export project, for $1.2 billion. The deal, expected to be completed by the end of the year, provides Tellurian with immediate financial relief and positions Woodside to accelerate the development of the Driftwood project.
Ceres Power Holdings (CWR) has signed a global long-term license agreement with a major original equipment manufacturer (OEM) to manufacture its solid oxide electrolyzer cell (SOEC) technology. This partnership is expected to generate significant revenue through license fees, engineering services, hardware sales, and future royalty payments on the commercial production and sale of SOEC equipment by the partner. In a recent trading update, Ceres increased its full-year revenue guidance to £50-60 million, with first-half revenue expected to be between £27-29 million, more than double the same period last year.
AFC Energy (AFC), an operator of hydrogen power generation technology, has announced a strategic supplier agreement (SSA) with Germany's Zollner Elektronik, marking a significant step in the scaled manufacturing of its fuel cell modules. As Europe's largest electronics mechanical services contract manufacturer, Zollner will produce components such as wiring, electrical panels, balance of plant sub-assemblies, and handle module assembly and testing. The production will initially be based in Zollner's facilities in Germany, with potential expansion globally to support AFC Energy's growth strategy.