Green Equity - October 3, 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
Enovix Corporation (ENVX) has begun shipping battery cell samples from its new production facility in Malaysia. Enovix has also completed internal UN38.3 certification, ensuring the safe transportation of its lithium-ion batteries. The company is on track for high-volume production starting in 2025, with Site Acceptance Testing (SAT) of the high-volume line expected soon.
Charbone Hydrogen (CH) has partnered with Enki GéoSolutions, bringing geologist Stephan Séjourné onboard to advise on white hydrogen opportunities. Séjourné’s expertise in natural hydrogen will support Charbone’s growth in this emerging energy sector. By 2030, the company aims to establish 16 hydrogen production facilities across North America.
Carbon Done Right Developments (KLX) has secured a sixth disbursement of $250,000 for its large-scale rewilding project in Sierra Leone. The project focuses on restoring 5,000 hectares of degraded land, with plans to expand by at least 20,000 hectares, producing up to 1.7 million tonnes of Verra-validated carbon credits over 30 years.
The US Exim Bank has granted a $98 million loan to support pre-project services for Romania's first NuScale SMR at the former Doicești coal plant, targeting a 462 MWe capacity across six modules. The partnership between Romania’s Nuclearelectrica and NuScale Power (SMR) began in 2019, with significant progress made through engineering and design agreements, including a contract with Fluor Corporation in 2024.
Price Targets & Reports
JPMorgan has downgraded ChargePoint Holdings (CHPT) from Overweight to Underweight due to concerns over EV adoption. The firm highlighted that commercial customers have reduced discretionary spending on chargers, while fleet customers face vehicle availability issues, leading to negative investor sentiment.