Renewable Energy Q1 Highlights, and Companies to Watch in Q2
–Renewable Energy Market Continues Positive Trend in April, After a Strong First Quarter, outpacing the broader US Market.
–March is the First Month of 2022 that Renewable Energy Funds See Positive Inflows.
–Over the last 7 days, the Renewable Energy Industry has risen 4.6%, earnings are forecast to grow by 36% annually (Simply Wall St.)
Renewable Energy Companies MicroCap Investors are focusing on include:
–American Resources Corporation (Nasdaq: AREC) releases news that it has expanded its sales commitments for a portion of its specialty carbon stoker products for the second quarter of 2022 by approximately 15,000 tons at a record average price realization in the mid $200 per ton.
AREC President, Tom Sauve, commented, “Our ability to secure this business for the specialty carbon markets is a testament to the quality of our operations and efforts of our team to identify top-quality assets and position the Company to be the strongest producer in our region.
–Ascent Solar Technologies, Inc. (OTCMKTS: ASTI), a developer and manufacturer of state-of-the-art, lightweight, and flexible thin-film photovoltaic (PV) solutions, reported full-year financial results for the year ended December 31, 2021 in its 10-K filed on March 14, 2022.
ASTI’s FY 2021 10K highlights include:
–Revenue increase of 812%
–Improved cash balance from $0.17M to $6M
–Aligning with a leading German agrivoltaic thin-film solar tube maker to secure a strategic $2.5M capital infusion in January 2021, as well as a multi-million dollar long-term supply agreement in September 2021
–Completing delivery on a supply contract with a developer of advanced unmanned, helium-filled airships in May 2021;
–Regaining its status as a current public filer with the SEC in May 2021;
–Being recognized for exceptional device stability during space flight experiments while also receiving an Innovation Award at the Defense TechConnect Conference in October 2021
–Completing a strategic capital raise of $10M from the Company’s largest stakeholder between August and November 2021.
–ReNew Energy Global plc (Nasdaq: RNW), India’s leading renewable energy company, announced its consolidated results for Q3 FY22 and nine months ended December 31,2021, in Q1.
RNW’s Q3FY22 Highlights include:
–The commissioned capacity of the Company increased by 1.1 GW during Q3 FY22 of which 0.8 GW was added organically. As of December 31, 2021, the Company’s portfolio consisted of 10.3 GW of which 7.4 GW are commissioned and 2.9 GW are committed.
–Total Income (or total revenue) for nine months of FY22 was INR 51,581 million (US$ 693 million), an increase of 25.6% over nine months of FY21. Total Income for the Q3 FY22 was INR 13,462 million (US$ 181 million), an increase of 24.7% over Q3 FY21.
–Net loss for nine months of FY22 was INR 12,573 million (US$ 169 million) compared to a net loss of INR 4,093 million (US$ 55 million) in nine months of FY21. The net loss for nine months of FY22 included INR 13,158 million (US$ 177 million) of charges related to listing on Nasdaq Stock Market LLC, issuance of share warrants, listing related share-based payments and others.
–Adjusted EBITDA(2) (Non-IFRS) for nine months of FY22 was INR 42,456 million (US$ 571 million), an increase of 27.5% over nine months of FY21. Adjusted EBITDA for Q3 FY22 was INR 10,554 million (US$ 142 million), an increase of 26.0% over Q3 FY21. Adjusted EBITDA was not adjusted for the net negative impact of weather relative to normal of approximately INR 4,082 million (US$55 million) for nine months of FY22 and approximately INR 1,116 million (US$ 15 million) for Q3 FY22.
–Altus Power, Inc. (NYSE: AMPS), a leading clean electrification company, announced a strategic partnership with Trammell Crow Company to bring Altus Power’s clean electrification solutions to TCC’s real estate development projects.
–Under the terms of this multi-year strategic partnership, TCC will engage Altus Power to bring solar power generation, battery storage and electric-vehicle charging to its development portfolio. The initial focus will be 35 million sq. ft. of U.S. industrial assets in TCC’s development pipeline. This partnership is expected to generate 300 MW of building-sited, locally generated solar power across the United States over the next three to four years, with battery storage capacity and electric-vehicle charging. TCC and Altus Power plan to expand the partnership to include other assets in the future.
–VivoPower International PLC (NASDAQ: VVPR) announced it will present at the Alliance Global Partners Virtual Energy Conference, this week (Wednesday, April 6, 2022).
The Company’s Executive Chairman and Chief Executive Officer, Kevin Chin and Managing Director and Head of Corporate Development, Matt Davis will be available for one-on-one investor meetings during the conference.
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