Green Equity - September 12, 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
Gevo, Inc. (GEVO) is acquiring Red Trail Energy’s ethanol production plant and carbon capture and sequestration (CCS) assets for $210 million, enhancing its carbon abatement strategy with a site capable of sequestering up to 1 million metric tons of CO2 annually. The acquisition supports Gevo’s Net-Zero projects and aims to integrate CCS with sustainable aviation fuel (SAF) production in the U.S. and Canada. The deal is expected to close in Q1 2025.
Ostrom Climate Solutions (COO) has appointed Tejinder Virk as its new CEO. Phil Cull will transition to President and COO to focus on carbon project development and maintaining technical standards. Virk, formerly Chief Strategy Officer and a seasoned executive in capital markets and investment banking, will drive operational profitability as Ostrom expands its high-quality carbon project portfolio.
Earth Alive Clean Technologies (EAC) has secured C$650,000 in loans from two lenders, Nikolaos Sofronis and Vladimir Cardon de Lichtbuer. The loans bear an annual interest rate of 15%, are secured against the company's movable property, and are repayable on demand, with proceeds to support general cash flow needs.
Altius Renewable Royalties (ARR) has entered into a definitive agreement with Royal Aggregator LP, an affiliate of Northampton Capital Partners, to acquire all outstanding common shares of ARR, excluding those owned by Altius Minerals Corporation. Under this plan, minority shareholders of ARR will receive C$12.00 per share, a 28% premium to the closing price on September 4, 2024, and a 29% premium to the 20-day volume weighted average price. Post-transaction, Royal Aggregator LP will own 43% of the outstanding shares, while Altius Minerals will indirectly retain 57%.