Green Equity - September 19, 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
Plug Power has launched an equipment leasing platform, targeting over $150 million through a combination of debt leverage and customer financing solutions. As part of the initiative, Plug signed three sale and leaseback transactions with GTL Leasing, a portfolio company of Antin Infrastructure Partners, amounting to approximately $44 million. These transactions involve hydrogen transport and storage assets like trailers and cryogenic tanks, which will help Plug maintain access to essential equipment while bolstering its financial position.
Gevo Inc. (GEVO) announced the sale of approximately $20 million in Investment Tax Credits from its renewable natural gas (RNG) facility in Iowa, generating around $17 million in net proceeds after fees. Gevo aims to scale this operation further and unlock more value through the Inflation Reduction Act's Section 45Z Clean Fuel Production Credits.
Price Targets & Reports
Raymond James analyst Patrick Tyler Brown maintains a Strong Buy rating for Casella Waste (CWST), with a price target of $122. The analyst highlights Casella Waste's strategic landfill positioning and operational improvements, which are expected to foster sustainable organic growth and enhance margins.
B. Riley initiated coverage on Oklo Inc. (OKLO) with a Buy rating and a $10.00 price target. The company’s customer pipeline has grown significantly, reaching 1,350 MW by August 2024, and it has partnered with Siemens Energy to advance its fission technology.