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
Verde AgriTech (NPK.TO) announced plans to spin off the Man of War Rare Earths Project (MoW) into a new entity, Oby Rare Earths, subject to shareholder approval at a meeting on December 20th, 2024. This move will allow Verde to focus exclusively on its core business of producing low-carbon specialty fertilizers.
LNG Energy Group (LNGE) announced operational updates regarding its Colombian operations, including a temporary reduction of natural gas delivery volumes by 5.0 MMbtu/d due to production restrictions at their Bullerengue field. The company is implementing a corporate reorganization to save $1 million annually and has appointed Stan Jumper as Interim COO following the resignation of Nicolas Ziperovich.
Comstock Fuels (LODE) has expanded its licensing agreement with Singapore-based SACL to include Vietnam, enabling the construction of a 750,000 MTPY Bioleum™ Refinery in Quang Tri Province. This adds to SACL's three planned Bioleum Refineries in Australia, totaling over 460 million gallons of renewable fuel capacity, including sustainable aviation fuel (SAF). Comstock Fuels will receive a 20% equity stake in each facility, royalties of up to 6% on product sales, and engineering fees. Collectively, the four refineries represent over $4 billion in construction costs and $3 billion in annual sales potential.