Green Equity - November 14, 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
Oklo (OKLO) has received letters of intent to supply up to 750 MW of nuclear power to U.S. data centers, adding to a 2,100 MW customer pipeline. Oklo’s reactors, designed to generate 15-50 MW directly at client sites, will use recycled nuclear fuel, with the first deployment planned for 2027. The company is also working with firms like Diamondback Energy and Centrus Energy and aims to establish the first U.S. recycled-fuel fission plant at Idaho National Laboratory.
Plug Power (PLUG) is finalizing a $1.66 billion federal loan guarantee to expand its green hydrogen production facilities in the U.S., hoping to secure support before Republicans assume office. CEO Andy Marsh is optimistic that the incoming administration will back hydrogen and nuclear energy, potentially easing regulatory requirements to bolster the U.S. clean energy sector.
Beam Global (BEEM) has partnered with Serbian insurer Globos Osiguranje to deploy five solar-powered EV charging stations at Belgrade Nikola Tesla Airport, offering free public charging without relying on utility power. This owner-operator model provides Beam with a recurring revenue stream from sponsorship fees, while VINCI Airports, which manages Belgrade Airport, benefits from a sustainable, off-grid charging solution with no construction disruption.
ASP Isotopes (ASPI) and South Africa’s Nuclear Energy Corporation (Necsa) have signed an MOU to develop a facility for producing High Assay Low Enriched Uranium (HALEU) at Pelindaba, South Africa’s nuclear research hub. This collaboration aims to meet the growing demand for advanced nuclear fuels, particularly for Small Modular Reactors (SMRs), supporting energy security and job creation in South Africa.
Price Targets & Reports
Wells Fargo analyst Michael Blum has lowered the price target for Plug Power (PLUG) from $3 to $2, maintaining an Equal Weight rating. Following Plug Power's annual Symposium, Blum cited the company's updated revenue targets, which fell below market expectations, and noted its focus on growth strategy, cost reduction, and managing political risks amid recent shifts in the U.S. political landscape.
BTIG downgraded Plug Power (PLUG) from Buy to Neutral, citing slower-than-expected growth in global hydrogen demand.
New Public Listings
Invizyne Technologies (IZTC) has announced the pricing of its $15 million IPO, offering 1.875 million shares at $8 per share. Trading on the Nasdaq under the ticker “IZTC” began on November 12, 2024. The company has provided underwriters a 45-day option to purchase additional shares for over-allotments. Proceeds from the IPO will support Invizyne's production expansion, business development, and other corporate purposes. Invizyne's SimplePath™ platform enables efficient production of chemicals, biofuels, and other products through enzyme-based methods, offering a sustainable alternative to traditional chemical and synthetic biology processes.
Venture Global LNG plans to raise around $3 billion in a U.S. initial public offering (IPO). Working with Goldman Sachs and JPMorgan Chase, the Virginia-based LNG supplier is targeting a listing as soon as late 2024. The company recently received regulatory clearance to introduce natural gas at its Plaquemines export plant in Louisiana, which, along with its Calcasieu Pass facility, will position Venture Global as the second-largest U.S. LNG producer with an export capacity exceeding 30 million metric tons annually.