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Highlights
- Bill Gates is collaborating with the UK government for investing in new and advanced green technologies to address net-zero carbon emission targets by 2050.
- Gates said that the collaboration with the UK will help in the accurate identification of projects that require backing and can be scaled up in the next five years.
Bill Gates is collaborating with the UK government to lower the cost of new green technologies to aid countries to address net-zero carbon emission targets by 2050. The partnership will lead to an investment of £400 million ($552 million) in various technologies, including long-term energy storage, green aviation fuels, air capture of carbon dioxide, and green hydrogen generation. The alliance brings together private investors with a focus on encouraging innovation to tackle climate change.
The co-founder of Microsoft emphasised the need for the development of cost-effective green technologies at the Global Investment Summit. Gates said that the collaboration with the UK would help in the accurate identification of projects that require backing and can be scaled up in the next five years. The scaling up of projects is expected to lower costs, such as in the case of solar and onshore wind that are now being extensively used as alternatives to conventional power sources to lower emissions.
Let us explore 3 green stocks listed on the London Stock Exchange (LSE) and see how an investor can enhance their prospects.
(Data source: EODHD/Others)
EQTEC Plc (LON: EQT)
EQTEC is a specialist in advanced gasification technology that converts sustainable waste to energy. Recently, the company, through its new EQTEC Synergy Projects, inked an agreement for the proposed acquisition of a 5 MWe project in Greece. Post-acquisition, the company will develop a new biomass-to-energy plant from locally and sustainably sourced forest waste. The company also invested in fire prevention and clean energy production in the North Fork project in California.
EQTEC recorded revenue of €0.5 million for H1 2021 ended 30 June 2021, and an adjusted net loss of €2.6 million for the same period.
The shares of EQTEC closed at GBX 1.25 on Tuesday, 19 October 2021. The market cap of the company currently stands at £107.04 million. In the last one year, the shares of EQTEC returned 138.55% to shareholders.
HydrogenOne Capital Growth Plc (LON:HGEN)
HydrogenOne Capital Growth is clean hydrogen and energy-storage focused investment firm. The company was admitted to the LSE in July this year, making it the first hydrogen fund to be listed on the LSE.
HydrogenOne inked a definitive contract for private equity investment of £20 million in Sunfire GmbH, a leading electrolyser producer. The contract includes the acquisition of a minority stake in Sunfire and the possibility of a future collaboration with Sunfire for hydrogen manufacturing.
The shares of HydrogenOne Capital Growth closed at GBX 112.00 on Tuesday, 19 October 2021. The market cap of the company currently stands at £120.23 million.
ITM Power Plc (LON: ITM)
ITM Power is an FTSE AIM UK 50 Index listed electrolyser maker that is used in the production of green hydrogen.
ITM Power recorded revenue of £1.2 million for the three months ended 31 July 2021 compared to £0.3 million in Q1 2021. The company’s loss from operations rose to £6.3 million in the same period.
The shares of ITM Power closed at GBX 454.00 on Tuesday, 19 October 2021. The market cap of the company currently stands at £2,550.65 million. In the last one year, the shares of ITM Power returned 64.38% to shareholders.
