Green Equity - October 10, 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
Plug Power (PLUG) has partnered with Allied Green Ammonia (AGA) to establish one of the world's largest green ammonia production facilities on the Gove Peninsula in Australia's Northern Territory. Under this agreement, Plug will supply 3 GW of electrolyzer capacity, aiming to decarbonize ammonia production by using green hydrogen instead of traditional methods.
Zapp Electric Vehicles Group (ZAPP) has signed a contract with AIH Group to construct a manufacturing site in Thailand's Bangkok Free Trade Zone, with completion expected by early 2025. The facility will support Zapp's i300 urban electric motorcycle sales in Thailand and export markets. Zapp plans to expand into other Southeast Asian countries and has also formed a manufacturing partnership in India, alongside securing approvals in the UK and Thailand.
Price Targets & Reports
UBS downgraded Nutrien (NTR) from a Buy to Neutral due to concerns over a weakening agriculture market, which is expected to limit demand for the company's farming chemicals.