The global biomass power market size was valued at $121 billion in 2021 and is projected to grow at 6% annually (CAGR) according to Grand View Research. Biomass as a biofuel figure to be a part of the global energy transition. Several companies are carving niches in the markets and could be a great way to play this growth.
Generation Hemp Inc (OTCMKTS: GENH) – One of the stocks that could be looked into at this point is that Generation Hemp. As it happens, the company was actually in the news earlier this month on May 3 when Gary C Evens, its Chief Executive Officer, spoke to Capital Gains Report.
During the course of the interview, Evans spoke about some of the company’s latest projects. Some of those projects include efficient energy production and Bitcoin mining among others. In addition to that, Evens added, Generation Hemp was looking to be uplisted to one of the major exchanges.
The company is involved in the energy transition sector and in addition to that, it was also noted that the shares in Generation Hemp are quite tightly held. The major exchange to which the company seeks to get uplisted is the NASDAQ and if that happens, then it is expected to be a major boost.
Ocugen Inc (NASDAQ: OCGN) – In Q1, Adjusted EBITDA loss came in at $6.5 million for the first quarter compared to a loss of $4.6 million in the prior-year period. Net income stood at $7.3 million compared to a net loss of $53.6 million in the prior-year period.
For FY2022, The company projects an adjusted EBITDA loss of up to $36 million. Capital spending is now expected to be up to $175 million.
Codexis, Inc. (NASDAQ: CDXS) – In the first quarter, Total revenues were $35.3 million, an increase of 96% from $18.0 million in the first quarter of 2021.
R&D revenues for the first quarter of 2022 were $4.7 million compared to $7.8 million in the first quarter of 2021. The net loss for the first quarter of 2022 was $8.4 million, or 13 cents a share, compared to $9.1 million, or 14 cents a share, for the first quarter of 2021. As of March 31, 2022, the Company had $94.3 million in cash and cash equivalents.
Babcock & Wilcox Enterprises Inc (NYSE: BW) – In the first quarter, The company reported revenues of $204.0 million, a 21% jump compared to the first quarter of 2021. – B&W Renewable segment revenues of $68.0 million, reflecting a 136% increase over the first quarter of 2021
Net loss reduced to $8.7 million or 14 cents a share, from a net loss of $15.4 million or 22 cents a share in the same quarter last year. – Consolidated adjusted EBITDA of $12.0 million, a 40% increase compared to the first quarter of 2021
Stericycle Inc (NASDAQ: SRCL) – There has not been any news about Stericycle Inc this month so far but back on April 28 it was in the news after it announced the financial results for the quarter that had ended on March 31, 2022. It may be a good idea for investors to consider taking a look at some of the highlights of the financial results.
The company managed to bring in revenues of $664.2 million for the quarter and that reflected a drop of 0.6% from the revenues of $668 million in the prior-year period. On the other hand, the income from operations dropped considerably and hit $5.9 million.
In the prior-year period, the company had managed to bring in as much as $59.1 million in the form of income from operations. In the prior-year period, the company had generated a net income of $26.1 million but in Q1 2022, it suffered a net loss of $14.2 million.
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