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Summary
- EQTEC shares fell sharply after it announced a £15 million fundraising plan via placing and subscription to support its growth plans.
- Active Energy shares fell after new air permits for its wood pellet project in North Carolina was put on hold due to environmental concerns
The alternative energy and sustainability industries have faced some volatility due to the pandemic. However, the government has announced several measures recently to help it achieve its carbon emission goals ahead of its COP 26 talks to be held in Glasgow later this year.
The UK government announced on Thursday several changes to be made under the supply chain for its contract for difference (CfD) scheme in order to reduce carbon emissions.
Following the announcement, let us see how two FTSE listed stocks in the alternative sector were moving on the bourses today:
- EQTEC PLC (LON: EQT)
EQTEC is a bioscience energy company based in the UK. It announced plans to raise funds through a £15 million share placing, subscription and primary bid offer, priced at 1.5 pence per share.
The fundraising will be used to aid in the company’s growth, entry into new markets, expand its progress in existing markets and other strategic initiatives.
(Image Source: Refinitiv)
EQT’s shares were trading at GBX 1.58, down by 6.81 per cent on 28 May at 08:21 HRS GMT+1. It’s market cap stood at £122.29 million, and its 1-year returns were at 788.27 per cent.
Also Read: AIM Listed Small Cap Renewable Energy Companies to Look At: EQT, AEG, AFC, and
- Active Energy Group PLC (LON:AEG)
Active Energy is a renewable company focused on second generation biomass products and is listed on the FTSE AIM All Share Index. The company’s subsidiary Active Energy Renewable Power had received US $ 500,000 in grants from the North Carolina Department of Commerce to create a new kind of wood pellet.
The company’s shares have faced pressure after its new air permit for the project was put on hold as environmental officials await further information from AEG.
(Image Source: Refinitiv)
AEG’s shares were trading at GBX 0.73, down by 3.33 per cent. It’s market cap stood at £29.27 million, and its 1-year returns were at 64.09 per cent. Meanwhile, the FTSE AIM All Share index stood at 1,250.11, down by 0.03 per cent on 28 May at 08:49 HRS GMT+1.
Also Read: 5 Penny Stocks Worth Watching: Galantas Gold, Eqtec, Malvern, Oracle Power,
