Green Equity - November 12, 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
BluSky Carbon (BSKY) has entered a preliminary joint venture agreement with Ikigai Carbon Corporation to establish biochar projects in Namibia. This 50/50 partnership aims to leverage BluSky's Vulcan pyrolysis technology to convert biomass into biochar for carbon removal. Ikigai, led by Steen Rasmussen, brings expertise in waste-to-value chains and carbon credits, and will handle local partnerships and business development. BluSky will provide the technology and secure project financing.
Jericho Energy Ventures (JEV) has partnered with Aurea Holdings to bring hydrogen energy solutions to Europe’s energy-intensive industries. Aurea will also invest in Jericho through a C$2 million private placement, leading with an initial $500,000 commitment. Proceeds will fund general working capital.
ClearSign Technologies (CLIR) has received a purchase order for a boiler burner to be used by an asphalt company in California. The burner is scheduled for fabrication and shipment in Q2 2025 for installation in California’s San Joaquin Valley.
Price Targets & Reports
Canaccord Genuity has maintained its Hold rating on Plug Power (PLUG) but lowered the price target from $2.50 to $2.25 due to ongoing challenges, including business model adjustments, balance sheet concerns, and political uncertainties.
Benchmark has reiterated its Buy rating and $5.00 price target for Blink Charging (BLNK) following its third-quarter earnings report, despite lower-than-expected revenue of $25 million (below the $36 million estimate) and weaker product sales due to slower demand.
Bryan Garnier has downgraded Nikola (NKLA) from Buy to Neutral, setting a price target of $4.