No-Name Clean Tech Firms Are Turning Into Billion-Dollar Bets
Bloomberg 1/19/2021 Catherine Traywick, Josh Saul, Mark Chediak and David R. Baker
(Bloomberg) Fuelcell Energy Inc., a clean-energy developer that hasn’t reported an annual profit in 20 years, is hardly a household name. But thanks to the mania for green stocks, the company’s market value has soared 800% in recent months to reach $5.6 billion.
It’s not alone. Since November, a wave of once-obscure clean-energy companies have seen their valuations skyrocket into the billions despite generating little or no net income. Some of them are riding Tesla Inc.’s coattails after the industry giant’s own market capitalization reached a record $834 billion this month, topping that of Facebook Inc. Others have struck potentially lucrative partnerships or are simply surging on Wall Street’s confidence in a green transition under President-Elect Joe Biden.
Published Sunday, Jan. 17, 2021, 1:13 pm
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Front Page » Government/Politics » Climate Action Alliance of the Valley News Roundup: It’s back!
Climate Action Alliance of the Valley produces The Weekly Roundup of Climate and Energy News. Excerpts from a recent Roundup follow; full Roundup is here.
Politics and Policy
Biden added over six climate staffers to his White House team, drawing from the ranks of green groups, environmental justice advocates, and former Democratic administration officials. Here’s background on several of them. Former Colorado Governor Bill Ritter Jr., now at Colorado State University, provided a comprehensive analysis of Biden’s proposals to attack the climate crisis. Marianne Lavelle wrote of the opportunities the Senate’s 50-50 split provides on climate legi
Hunt for the Next Tesla Fuels Wave of Electric-Vehicle Deals
Bloomberg 1/12/2021 David R. Baker, Brian Eckhouse and Josh Saul
(Bloomberg) Wall Street’s obsession with electric vehicles is touching off a new round of public listings and helping clean-tech companies to forge partnerships with powerful allies.
Popular Searches
Proterra Inc., which makes electric buses and battery systems, on Tuesday said it will go public through special purpose acquisition company ArcLight Clean Transition Corp., the latest in a wave of deals between automakers and SPACs. It comes as Lucid Motors Inc. has been in talks to go public via one of Michael Klein’s blank-check companies, according to people familiar with the matter.
SK Group to invest $1.5 billion in hydrogen mobility
Hydrogen fuel cell maker Plug Power and South Korea’s SK Group will form a strategic partnership to accelerate hydrogen as an alternative energy source in Asian markets.
Last update:
January 11, 2021
Through a $1.5 billion investment, Plug Power and SK Group intend to provide hydrogen fuel cell systems, hydrogen fueling stations, and electrolyzers to the Korean and broader Asian markets.
In January 2019, the South Korea government announced the Hydrogen Economy Roadmap through 2040, with ambitious goals – over 5 million tons of hydrogen per year, over 6 million fuel cell EVs, 1,200 refilling stations and 15 GW of fuel cell power generation, and expects the cumulative economic value of its hydrogen economy to reach $40 billion by 2040.