Green Equity - September 9, 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
Hyliion Holdings (HYLN) has been awarded a $15+ million contract by the U.S. Office of Naval Research to develop its KARNO generator, a sustainable power system, for their Navy ships and stationary applications. Upon successful validation, the KARNO generator could be used in future naval platforms, offering scalable and flexible power solutions.
Blink Charging (BLNK) has partnered with WEX to advance EV charging solutions for mixed-energy fleets. This collaboration adds Blink's charging stations to WEX's expanding U.S. network, now totaling approximately 130,000 public chargers, providing commercial drivers with broader access to EV charging.
OCI Global (OCIA) has agreed to sell its methanol business to Methanex Corporation for $2.05 billion, comprising cash and shares, making OCI a 13% shareholder in Methanex. The deal includes OCI Methanol’s assets in the U.S. and Europe and is expected to close in the first half of 2025. This sale aligns with OCI’s broader divestiture strategy to generate $11.6 billion in proceeds to reduce debt and return capital to shareholders.
Electric Royalties (ELEC) has hired Red Cloud Financial Services to provide financial advisory and promotional services beginning September 1st, 2024. The agreement includes a monthly fee of $10,000 for an initial six-month term. Red Cloud will assist Electric Royalties in accessing capital markets, identifying financing opportunities, and enhancing its corporate profile through various advisory and promotional activities.