Green Equity - October 29, 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
Energy Recovery (ERII) secured $12 million in contracts to supply its PX Pressure Exchanger technology for three desalination projects in the UAE. The deals include innovative applications, such as equipping a floating desalination barge to address land scarcity.
ClearSign Technologies (CLIR) announced a new engineering order for a flare system from a California-based energy company. The flare retrofit, set for fabrication and delivery by Q2 2025, will be installed at a production site in California’s San Joaquin Valley.
Kontrol Technologies (KNR.NE) has announced a corporate update, highlighting plans to potentially acquire an Ontario-based company with $3 million in revenue and $525,000 in EBITDA. The acquisition is currently under a non-binding Letter of Intent. Additionally, Kontrol has begun a strategic review to explore adding Bitcoin or related investments to its balance sheet, with results expected in November 2024. The company has approximately $11 million in cash, primarily invested in short-term GICs and government bonds yielding 4%.
BluSky Carbon (BSKY) has started biochar production at its new facility in Warren, Arkansas, marking the launch of its operations to fulfill a $105 million, ten-year supply agreement. The facility, named "AR1," spans 50,000 sq ft and houses a Vulcan Heavy system with two more units planned, aiming for a total output of 40,000 tons of biochar annually. The Arkansas location benefits from a sustainable timber industry for biomass feedstock and logistical advantages for agricultural distribution.