Green Equity - July 9, 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
Aduro Clean Technologies (ACT) has signed an investor relations and digital services agreement with KCSA Strategic Communications. Starting July 15, 2024, KCSA will provide services to enhance Aduro's brand and communication within the investor community through its AmplifIR digital IR platform.
Eventus, a provider of trade surveillance software, and Abaxx Technologies (ABXX), a financial software and market infrastructure company, have announced that Abaxx Exchange has chosen Eventus to provide its trade surveillance platform. Abaxx Exchange President Dan McElduff emphasized the need for a robust and customizable surveillance tool, which Eventus' Validus platform provides.
Zefiro Methane (ZEFI) announced the presale of a portion of its carbon offset portfolio to EDF Trading, a global leader in low-carbon energies. Zefiro is focusing on sealing potentially hazardous oil and gas wells to generate these carbon offsets, which are verified by certified third-party auditors. The financial details of the transaction were not disclosed.
Water Intelligence (WATR.L) announced its acquisition of Feakle Gas & Plumbing for €2.3 million. The acquisition comes as demand for water and wastewater solutions in Ireland grows due to the implementation of various EU directives. Feakle Gas generated €3.7 million in revenue and an adjusted operating profit of €550,000 in 2023.
Bee Vectoring Technologies International (BVT), a company that leverages bees to deliver biological controls and biostimulants to crops, is exploring strategic alternatives, including a potential sale, to better commercialize its technologies. Despite having successfully demonstrated the potential of its proprietary biological control agent and vectoring delivery system, the company faces challenges is facing issues commercializing its technology.
BAIYU Holdings (BYU), a leading commodity e-commerce platform and supply chain service provider, announced the acquisition of a majority stake in Electra New Energy Vehicle Inc. (ENEV). This acquisition gives BAIYU a controlling interest of 60% in ENEV.
Volvo Group and Westport Fuel Systems (WPRT) recently celebrated the official launch of their joint venture. The JV aims to promote, develop, and commercialize Westport’s technology, focusing on sustainable transportation solutions using internal combustion engines powered by renewable fuels and hydrogen in the future.
Price Targets & Reports
STA Research recently initiated a "Speculative Buy" rating on Aduro Clean Technologies (ACT) with a price target of $5.87
New Public Listings
Crown LNG Holding AS has successfully completed its business combination with Catcha Investment Corporation. Following the transaction's approval by Catcha's board of directors and shareholders on June 12, 2024, the combined entity will now operate as Crown LNG Holdings Limited. Starting July 9, 2024, Crown’s Class A ordinary shares and warrants will trade on the Nasdaq under the ticker symbols "CGBS" and "CGBSW," respectively.