Green Equity - November 18, 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
Watchlisted - CleanCore Solutions (ZONE) has launched a pilot program with a major international hotel chain (unnamed) at a U.S. location, following a successful installation with one of its franchisees. The program will test CleanCore's cleaning solutions, including Power Caddies and Laundry systems. CleanCore boasts a 98% success rate in converting pilot programs into contracts so far.
Bolt Projects Holdings (BSLK) is reporting progress in penetrating the beauty and personal care industry with its Vegan Silk Technology Platform, led by b-silk, a biodegradable polypeptide offering functional benefits for haircare, skincare, and cosmetics. Recent product launches include sunscreen and shampoo/conditioner products, driving revenue growth to $3.4M in 2023. A new color cosmetics product featuring b-silk™ is slated for release in early 2025, with additional launches expected soon.
Capital Clean Energy Carriers (CCEC) has reported robust Q3 2024 results, with net income rising to $15.8 million and revenue up 66% year-over-year. The company’s strategic shift toward gas transportation, supported by acquiring new LNG carriers and selling container vessels, has strengthened its financial position.
Energy Recovery (ERII) announced a $50 million share repurchase program over the next 12 months, funded by cash on hand.
Polar Power (POLA) announced a 1-for-7 reverse stock split of its common stock, effective November 19, 2024, to comply with Nasdaq's minimum bid price rule.
Price Targets & Reports
Roth MKM has lowered its price target for GreenPower Motor (GP) from $2.50 to $1.50, citing subsidy uncertainties, inventory challenges, and a less favorable market environment.