Green Equity - September 18, 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
ADM Investor Services Singapore (ADMIS Singapore) has joined Abaxx Exchange (ABXX) as its third approved clearing and trading member. This partnership gives ADMIS Singapore’s clients access to centrally cleared, physically deliverable LNG and carbon futures contracts.
AFC Energy (AFC) has launched Hyamtec, a wholly-owned subsidiary focused on commercializing its ammonia cracking technology. This innovation aims to produce low-cost, on-demand hydrogen to support industrial decarbonization efforts without requiring extensive new infrastructure. Hyamtec's technology can convert ammonia into hydrogen-rich fuel for various applications, including industrial heat generation, power generation, marine, and mining sectors.
BP's Archaea Energy and GFL Environmental (GFL) have launched their renewable natural gas facility in Wisconsin. The plant, which has been operational since August, is part of their joint venture, Saturn Renewables LLC. Using Archaea's Modular Design (AMD), the facility captures and converts landfill biogas into RNG for use in vehicles, power generation, heating, and industrial applications.
OPAL Fuels (OPAL) has announced the sale of $11.1 million in Inflation Reduction Act (IRA) investment tax credits to a subsidiary of Apollo Global Management. This transaction marks OPAL Fuels' first IRA tax credit sale and is tied to the Emerald RNG facility, a joint venture in which OPAL owns 50%. The Emerald RNG facility, with a capacity of 10,000 scfm, is one of North America's largest landfill RNG plants.
Electra Battery Materials (ELBM) and Three Fires Group have formed Aki Battery Recycling to recycle lithium-ion battery waste and produce black mass, which will be processed to recover critical minerals like lithium, nickel, and cobalt. The facility will be located in southern Ontario. Three Fires Group will lead capital resourcing, and Electra will provide technical and commercial leadership.
Charbone Hydrogen (CH) has received multiple partnership proposals from natural hydrogen exploration companies to co-operate and distribute "white hydrogen," expanding its involvement in this emerging form of clean hydrogen. The company plans to integrate white hydrogen into its future network of at least 16 hydrogen production facilities across North America. Charbone is set to begin green hydrogen production later this year at its Sorel-Tracy, Quebec facility, with additional plans to launch a second site in Michigan by year-end.
GreenPower Motor Company (GP) has received orders for six all-electric school buses from its Arizona dealer, RWC Group, for three school districts in Arizona. These buses are funded under the U.S. Environmental Protection Agency's Clean School Bus Program, which was created through the Bipartisan Infrastructure Law with $5 billion allocated over five years to replace existing school buses with clean alternatives. RWC Group is working on additional orders for GreenPower’s electric school buses under the same program.
New Public Listings
BASF is reportedly preparing its agricultural chemicals business for an initial public offering (IPO) as part of restructuring measures. The potential proceeds from the sale of assets could help strengthen the company's balance sheet. BASF's Agricultural Solutions unit, which generated about €10 billion in sales last year, competes with major players like Bayer, Corteva, and Syngenta.