Green Equity - September 4, 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
Aduro Clean Technologies (ACT) has filed a new patent application for a process that transforms waste plastics and renewable oils into high-value BTX chemicals, including benzene, toluene, and xylenes. This innovative method is simpler, more efficient, and cost-effective compared to traditional BTX production from petroleum, leveraging Aduro’s existing technologies. BTX compounds are vital in producing various high-value products, with the global market projected to reach $274.78 billion by 2027.
LanzaTech (LNZA) and SEKISUI CHEMICAL have signed a Master License Agreement to establish commercial-scale facilities in Japan that convert municipal and industrial waste into sustainable ethanol, with the first facility projected to produce 10 to 12 kilotons annually. Despite ongoing legal disputes and financial uncertainties, LanzaTech is also expanding its stake in LanzaJet (their SAF subsidiary) to increase its involvement in the sustainable aviation fuel market.
Electra Battery Materials (ELBM) has signed a strategic advisory agreement with Altitude Capital Consultants, led by capital markets experts Michael Wekerle and Gene McBurney. The agreement aims to enhance Electra's capital markets strategy and identify market opportunities.
Enviri Corporation (NVRI) announced the sale of its Reed Minerals business to Speyside Equity for $45 million in cash, with proceeds expected to help reduce Enviri’s debt and strengthen its balance sheet.
Anaergia Singapore, a subsidiary of Anaergia, has been awarded a contract worth approximately C$25 million to design and build the Jeju Bio Energy Biogas Plant in South Korea. The facility will convert about 50,000 tons of organic waste annually, including waste from slaughterhouses, citrus juice, and food production facilities, into two megawatts of renewable energy using Anaergia’s anaerobic digestion system.
Amprius Technologies (AMPX) has signed a non-binding Letter of Intent (LOI) with a Fortune Global 500 technology OEM to develop high-energy SiCore™ cylindrical cells for Light Electric Vehicle (LEV) applications. Amprius will begin shipping the first batch of these cells to the customer this year.
Price Targets & Reports
Scotiabank has downgraded Opal Fuels (OPAL) from "Outperform" to "Sector Perform," lowering the price target from $8 to $5. The downgrade reflects the firm's outlook of limited near-term catalysts for the renewable natural gas (RNG) sector over the next twelve months.
Scotiabank downgraded Montauk Renewables (MNTK) to "Sector Perform" from "Sector Outperform" and reduced its price target from $8 to $6, citing the company's high valuation and limited near-term growth catalysts. The firm noted a shift in the RNG industry towards downstream fuel distribution, an area Montauk does not engage in, which could disadvantage the company.
Great stuff thank you. Love your work by the way, much appreciated.
May be a silly question, but i'll ask it ;). When referring to global market for example BTX at $250 billion circa in 2027. Its referring to a per annum number isn't it?