Green Equity - July 3, 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
Enovix (ENVX) will hold a grand opening for its high-volume production facility, Fab2, in Penang, Malaysia, on August 8, 2024. Fab2, located at the Penang Science Park, is designed to house up to four high-volume production lines, capable of producing millions of high-performance silicon batteries for consumer electronics. The facility has already begun producing initial samples and is finalizing testing to support customer qualifications this year.
Carbon Streaming (NETZ) has completed the acquisition of Blue Dot Carbon, a private company involved in carbon project development and reforestation projects. The acquisition, initially announced on May 31, 2024, was finalized by issuing 4,559,333 common shares of Carbon Streaming at C$0.75 per share, totaling US$2.5 million.
Hitachi Zosen Inova AG, a subsidiary of Hitachi Zosen, specializing in waste-to-energy (WtE) and renewable gas plants, has acquired Babcock & Wilcox Renewable Service A/S (BWRS) from Babcock & Wilcox Enterprise (BW).
Electric Royalties (ELEC) provided updates on four royalties in its portfolio:
The Penouta Tin-Tantalum Mine in Spain is set to resume production under its section B permit, potentially generating near-term revenue for Electric Royalties, while legal avenues are pursued to reinstate the section C permit.
The Seymour Lake Lithium Project in Ontario is progressing toward a feasibility study and permitting, with drilling underway to extend the mine life.
The Millennium Copper-Cobalt Project in Queensland has commenced drilling to test new areas.
The Cancet Lithium Project in Québec secured A$25 million for further exploration and development.
New Public Listings
Sable Rubber Technologies, which recently raised $2 million and is currently raising an additional $4 million, is set to IPO within the next year. The company is backed by institutional funds like Sequoia and Lodge Partners. Sable plans to scale up tire recycling production capacity to process three tonnes per hour, initially building two five-tonne plants in Australia and exploring licensing opportunities in other developed countries.