Green Equity - September 5, 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
CleanCore Solutions (ZONE) has installed over 200 cleaning systems at a major university (unnamed) in the western United States. The systems, including Power Caddies and Fill Stations, produce aqueous ozone solutions that replace traditional cleaning chemicals. CleanCore is also working with four other universities to implement similar systems.
Zefiro Methane (ZEFI) has partnered with Fiùtur to develop the "Zefiro Lifecycle Solution," a digital platform to enhance transparency and scalability in environmental markets, particularly for carbon credit issuance. This strategic partnership will leverage Fiùtur’s digital verification network to standardize and verify environmental data, integrating real-world data collection, methane measurement, and emissions removal monitoring to support providing auditable carbon offset claims.
Beam Global (BEEM), a leader in sustainable infrastructure for electrification and energy security, has acquired Telcom, a power electronics manufacturer based in Belgrade, Serbia. By replacing third-party components with in-house engineered solutions, the acquisition is expected to enhance Beam's product quality, reduce costs, and minimize warranty and service needs.
Ecolomondo Corporation (ECM) has achieved a significant milestone with the successful initial shipment of recovered carbon black from its Hawkesbury facility to a major customer, highlighting the company’s advancement in tire recycling. Utilizing its proprietary thermal decomposition technology, Ecolomondo converts end-of-life tires into valuable materials, positioning itself as a key player in the sustainable materials market.
Deveron (FARM.V), a North American agriculture services and data company, has raised $1.6 million through a private placement, issuing over 22 million units. The funds will be used to enhance general working capital and to partially repay existing promissory notes, helping to strengthen the company’s financial position.
Price Targets & Reports
Investment firm B.Riley has raised its price target for Limoneira Company (LMNR) to $28.00, maintaining a Buy rating due to a strong sales outlook driven by better lemon and avocado pricing. Limoneira anticipates record avocado production, with projections of up to 10 million pounds for the year, and has increased its full-year guidance for lemon sales to 5-6 million cartons.
RBC Capital analyst Chris Dendrinos has lowered the price target for ChargePoint (CHPT) to $2.50 from $3, maintaining a “Sector Perform” rating. The adjustment follows ChargePoint's recent EBITDA miss, attributed to lower revenue and a management revenue guide that fell short of previous estimates due to weak demand and internal personnel changes.