Green Equity - October 1, 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
GFL Environmental (GFL) has secured $210 million in Solid Waste Disposal Revenue Bonds through the Florida Development Finance Corporation. The proceeds will be loaned to a GFL subsidiary for funding solid waste disposal facilities in Florida.
GreenPower Motor (GP) has received an order for 10 EV Star Passenger Vans from Washington University in St. Louis, to be used for on-campus student transportation. This is the university's second order, following a previous purchase of five vans.
Electric Royalties (ELEC) has signed a binding agreement with Minera Cobre Verde (MCV) to acquire a copper stream from the MCV Mine in Chile for $2.1 million. This deal allows Electric Royalties to purchase 76,000 pounds of copper monthly at a fixed price of $2.75 per pound for four years, with the option to double the stream for an additional $2.1 million.
Price Targets & Reports
Northland has taken over coverage of Hyliion Holdings, maintaining a "Market Perform" rating with a $2 price target.
Ceres Power has been deemed a "de-risked" green hydrogen company by UBS after announcing cost-cutting measures and reducing its adjusted pre-tax losses. UBS has upgraded its share price target to 480p, highlighting Ceres' strong growth potential in the green hydrogen market without additional fundraising.