Green Equity - November 15, 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
Abaxx Technologies (ABXX) provided a Q3 2024 update, highlighting progress after launching its commodity exchange and clearinghouse in June 2024. Key achievements include onboarding clearing members such as StoneX and ADM Investor Services, advancing product development in LNG, lithium, nickel, and precious metals markets, and strengthening regulatory initiatives with efforts to expand access and seek CFTC registration for U.S. participants. The company has also launched identity management app Verifier+ and Smarter Markets Coffeehouse, enhancing digital ecosystem capabilities.
I will make a video update on Abaxx after the upcoming investor call on November 18th.
Kontrol Technologies (KNR) announced the addition of multiple new city customers for its building decarbonization solutions, secured through competitive RFP processes. Additionally, Kontrol has accelerated its bitcoin-on-balance-sheet strategy, now holding approximately C$3 million in bitcoin or related proxies.
Anaergia (ANRG) announced a 10-year operations and maintenance contract for the Rialto Bioenergy Solutions (RBS) facility in California, the largest organic waste-to-renewable natural gas facility in North America. The facility can process up to 1,000 tons of organic waste daily, converting it into 985,000 MMBtu of RNG annually using Anaergia's technology and advanced anaerobic digestion.
Oklo (OKLO) has acquired Atomic Alchemy for $25 million to secure a domestic supply of radioisotopes for its small nuclear reactors and expand into medical and industrial applications. The acquisition enhances Oklo's fuel recycling capabilities while addressing global isotope shortages.
Fluor Corporation and NuScale Power (SMR) have received a limited notice to proceed (LNTP) for the design phase of Units 3 & 4 at Romania's Cernavoda Nuclear Power Plant. The design phase will provide critical details for a final investment decision on construction.
Price Targets & Reports
BMO Capital raised Bloom Energy's (BE) price target from $12 to $19.50, maintaining a Market Perform rating. The increase is tied to a new supply agreement with American Electric Power for up to 1 GW of solid oxide fuel cells.