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Highlights
- The climate change threat is one of the major concerns of today’s age.
- As we look for urgent environmental actions, clean energy sources and green technologies could emerge as the answers to these concerns and serve as the prime alternatives to carbon-emitting fossil fuels.
- BluMetric Environmental Inc (TSXV: BLM) and H2O Innovation Inc (TSXV: HEO) were named among the TMX’s 2022 Top 50 Venture list under the Clean Technology and Life Science category.
The climate change threat is one of the major concerns of today’s age. As we look for urgent environmental actions, clean energy sources and green technologies could emerge as the answers to these concerns and serve as the prime alternatives to carbon-emitting fossil fuels.
Considering the scope of the clean energy solutions, let us talk about two TSXV clean technology companies, named among the TMX’s 2022 Top 50 Venture list under the Clean Technology and Life Science category.
Also read: Vermillion (VET) & Athabasca (ATH): 2 TSX stocks to watch as oil soars
- BluMetric Environmental Inc (TSXV: BLM)
BluMetric is a diversified waste management company that provides environmental consultation and sustainable engineering solutions across different industries.
The C$ 16-million waste solution provider reported C$ 7.81 million in the first quarter of FY2022, down from C$ 8.15 million a year ago. Its first-quarter net profit also shrank to C$ 0.55 million in fiscal 2022 compared to C$ 0.7 million a year ago.
Stocks of BluMetric Environmental, on the other hand, swelled by about 10 per cent year-over-year (YoY), having closed at C$ 0.56 on Wednesday.
2. H2O Innovation Inc (TSXV: HEO)
H2O Innovations posted C$ 42 million in total revenues in Q2 FY2022, up from C$ 34.96 million in Q2 2021. Its second-quarter net profit grew notably to C$ 762 million in FY2022 compared to C$ 268 million a year ago.
Stocks of H2O Innovation plummeted by approximately three per cent in the past 12 months. Having closed at C$ 2.2, however, HEO stock was up over six per cent on Wednesday.
Also read: 3 Canadian ETFs to explore ahead of International Women's Day
Bottomline
Apart from rising climate change concerns, skyrocketing oil prices amid the current geopolitical tensions also seem to be pushing investors to look for other options, like clean-techs and green energy.
However, one should carefully invest in stocks based on their objectives and risk appetite to avoid financial loss.
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Kajal Jain - Analyst618 PostsKajal is a commerce graduate with expertise in the financial corporate sector. At Kalkine, she writes on Canadian equities and markets. In her free time, she enjoys music and gardening and likes to travel....
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Shreya Biswas - Multimedia Journalist408 PostsShreya Biswas is a multimedia journalist with a degree from the Asian College of Journalism. Previously a literature student-turned-political reporter, she now writes on market trends at Kalkine Media. When not chasing deadlines, she enjoys bloggin...