Green Equity - June 28, 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
EMX Royalty (EMX) has recently appointed two new members to its board of directors, who were just definitively approved in the company’s 2024 annual general meeting (AGM). EMX has also introduced its first Sustainability Report for the fiscal year of 2023.
Abaxx Technologies (ABXX), a financial software and market infrastructure company, announced the launch of its Abaxx Commodity Futures Exchange and Clearinghouse in Singapore. The exchange offers physically deliverable LNG and carbon futures contracts. Nickel futures will also be trading in the next few weeks.
Plug Power (PLUG), a leader in hydrogen solutions, is set to benefit from the Inflation Reduction Act’s Section 45V Credit for the Production of Clean Hydrogen in its upcoming financial reports. This incentive offers up to $3.00 per kilogram of clean hydrogen produced in the U.S., making electrolytic hydrogen more competitive with fossil fuels and supporting decarbonization efforts. The credit will significantly reduce Plug’s fuel costs, helping the company achieve a break-even fuel margin by year-end and positive margins in 2025.
Hempalta (HEMP), an agricultural hemp company, announced the launch of a new biochar product derived from industrial hemp, alongside several corporate updates. The company is developing hemp-based products to create additional revenue streams, with biochar produced through pyrolysis to sequester carbon and enhance soil health. Hempalta also reported progress in selling carbon removal credits through its majority-owned Hemp Carbon Standard. Additionally, the company has renamed its processing division to Hempalta Processing Inc. and is expanding its Calgary production facility to increase processing capacity.
Upcoming Dividends
Consolidated Water (CWCO) announced a cash dividend of 0.095 with an ex-date of July 1st, 2024.
Limoneira (LMNR) announced a cash dividend of 0.075 with an ex-date of July 8th, 2024.
Tsakos Energy Navigation (TNP) announced a cash dividend of 0.60 with an ex-date of July 12th, 2024.