Green Equity - October 9, 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
ClearSign Technologies (CLIR) has received a new burner order from Exotherm Corporation for installation in a power generation facility in Missouri. The burner is set to be shipped in early 2025.
Hyliion Holdings (HYLN) has signed a non-binding Letter of Intent (LOI) with ANA Inc, a leading mobile industrial equipment provider, to deploy up to six KARNO™ generators in the mobile power generation market. The initial phase will involve a 200kW unit in 2025, followed by five more units across multiple sites pending successful validation.
Polar Power (POLA) has installed a microgrid system at a United Nations High Command for Refugees (UNHCR) facility in Nigeria. The system, which integrates DC generators, solar PV inverters, lithium batteries, and controls, is expected to reduce fuel costs by up to 70% while ensuring continuous power during outages.
Charbone Hydrogen (CH.V) has announced the addition of Patrick Cuddihy, a seasoned leader with over 20 years of experience at Air Liquide Canada, to its industrial gases operations team. Patrick will play a key role in managing Charbone's green hydrogen projects, including the upcoming launch of its Sorel-Tracy, Quebec facility and a second site in Michigan by the end of 2024. The company is aiming to operate 16 green hydrogen facilities by 2030.
Emvolon has partnered with Montauk Renewables (MNTK) to pilot the conversion of biogas into green methanol at a landfill site in Humble, Texas. Using Emvolon's technology, which repurposes car engines as modular chemical plants, the project will convert methane from biogas into transportable green chemicals and fuels like methanol and ammonia. The pilot aims to produce up to 15,300 gallons of green methanol annually, with the potential to scale to 2.4 million gallons per year.
Price Targets & Reports
Eight Capital has initiated a Buy rating on GFL Environmental (GFL), with a price target of $70.