Renewable Energy Stocks Under $2: VKIN, VVPR, OPTT, SPI, FTEK

There are certain sectors that are all set to generate considerable growth in the years to come owing to the push from governments and policymakers and one of the largest is the renewable energy sector. Considering the very real environmental concerns and the investments which are being made by many governments, investors should be prepared for this sector to grow considerably.

This article is going to provide you with a quick look into some of the renewable energy companies whose stocks are currently trading at under $2 a share. These stocks should be on any savvy investors radar looking for energy stocks as we head into the new year.

Viking Energy Group Inc 

VKIN – One of the strongest aspects of VKIN is that they have committed to continued growth on the basis of an aggressive that investors need to keep in mind about Viking Energy Group Inc is that it has continued to grow on the basis of its aggressive acquisition strategy. In addition to its renewable energy interest, the company also owns oil and gas assets worth as much as $96 million.

The technologies under the VKIN umbrella range from carbon capture to green biodiesel production. Viking Energy has also picked up licensing rights for the technology of ESG Clean Energy LLC for Canada, and 25 other markets in the United States. 

VKIN has secured US Patent (No. 11,286,832) relating to the IP and other rights licensed by VKIN from ESG involving a Bottoming Cycle Power System related to its carbon capture technology. The new patent covers the invention of an ‘exhaust-gas-to-exhaust-gas-heat exchanger.’ The result is that VKIN is in an improved position to better capture carbon and use it for something beneficial.

Viking Energy Group Inc. 

VKIN is a company that is preparing for the future, while still hedging their bets with smart investments in the oil and gas fields.

Investors looking to make smart green energy plays, should keep this stock on your radar as the year progresses.

VivoPower International PLC 

VVPR – VivoPower International PLC, a company that operates through a number of subsidiaries, and is involved in the sustainable energy space. The company has footprints in the United States, Australia, Canada, United Kingdom, United Arab Emirates, and the Netherlands. Some of the sectors that VivoPower has a hand in are solar development, critical power, sustainable energy products, and electric vehicles.

Towards the end of the 2022 year, the company made headlines when it announced that along with its fully owned subsidiary unit, Tembo EV Australia PTY LTD signed a supply agreement with the firm Evolution Group Holdings Limited. The company and its subsidiary have plans to work on the electrification of the light utility vehicles of Evolution Group.

Ocean Power Technologies Inc 

OPTT – As the name suggests, Ocean Power Technologies Inc is involved in the generation of electricity from the energy that is present in ocean waves. OPTT currently has operations in Asia, North America, Europe, and South America. It is involved in the development as well as commercialization of proprietary systems which are involved in generating power.

The company offers a product known as PB3 PowerBuoy system which helps in generating power for offshore areas where there may not be power grids. The company announced its financial results for the second fiscal quarter that ended on October 31, 2022. It announced that orders had gone up to $2.3 million from only $0.1 million when compared to the prior year period.

SPI Energy Co Ltd 

SPI – SPI Energy Co Ltd is involved in the worldwide renewable energy space and also provides solar storage as well as electric vehicle products for a range of customer categories.

The company recently announced that on December 28, 2022, Solarjuice Technology Inc., its solar manufacturing unit, had managed to secure a pair of provisional patents in relation to rework apparatus and another one related to a solar replacement machine. The company noted at the time that it believed that the two patents are going to help in bringing about considerable improvement in the solar module production space.

Fuel Tech Inc 

FCEL – Fuel Tech Inc is a technology provider of boiler optimization, efficiency improvement, and air pollution reduction to utility and industrial customers. The company announced its financial results for the third fiscal quarter and the nine-month period, both of which ended on September 30, 2022, back in November last year.

The company managed to bring in revenues of $8 million for the quarter and that reflected an improvement on the $7.6 million that it had generated in the prior year period. 

Shares of FTEK have inched up 2.5% in the past six months, making this a stock to watch for the upcoming year.

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