Green Equity - November 4, 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) has completed its first carbon futures block trades on the Abaxx Commodity Exchange between Mercuria and HNK Alpha. The trades included December 2024 CORSIA Phase 1 Carbon Offset Unit Futures at $24.00/tCO₂e and December 2025 JREDD+ Carbon Offset Unit Futures at $17.75/tCO₂e.
Centrus Energy's (LEU) shares dropped 13% to $95 in premarket trading after the company announced a $350 million convertible debt offering, with an option for an additional $52.5 million within two weeks of issuance. The notes, due in 2030, will pay interest semiannually starting in May 2025. Centrus plans to use the proceeds for general corporate purposes, potentially including technology development and acquisitions.
EMX Royalty (EMX) has entered into an exploration and option agreement with Mila Resources for the Yarrol, Mt Steadman, and Queensland Gold projects in Australia’s Tasman Orogenic zone. EMX will receive an immediate A$25,000 payment and 16 million warrants in Mila stock. Mila can acquire full ownership by completing A$450,000 in work within a year. If the option is exercised, Mila will issue shares worth £110,000 and an initial royalty equivalent to 20 ounces of gold. EMX will also receive a 2.5% net smelter return royalty, with annual advance royalties that increase over time.
TOMI Environmental Solutions has secured a contract with Malaysia’s National Institute of Forensic Medicine to implement its SteraMist Integrated System - Standalone (SIS-SA) for disinfection in a Biosafety Level 3 autopsy room. Partnering with Kumpulan Novalab, TOMI is also pursuing additional government bids in Malaysia, with more expected soon.
Aemetis (AMTX) has completed the initial construction phase of a multi-dairy anaerobic digester in Merced County, California, designed to process waste from 14,000 dairy cows and produce over 200,000 MMBtu of renewable natural gas (RNG) annually, with operations set to start by the end of 2024. Following this digester and two additional ones, Aemetis’s output is expected to reach 550,000 MMBtu annually from 16 dairies. The company has agreements with 48 dairies and plans to expand to 75, aiming for 1.6 million MMBtu of RNG and $250 million in revenue annually.