As Google, Facebook and Walmart
Bet on #Renewable and Smart #Energy, Smaller Companies with Solutions See
Revenues Rise (OTCQB: $CLSK) (NASDAQ: $ENPH) (TSXV: $QST.V) (TSXV: $UGE.V)
Point Roberts WA,
Delta BC – May 16, 2019 - Investorideas.com, one of the first investor news resources
covering renewable energy stocks releases a sector snapshot reporting on the surge in cleantech and
smart energy technology driven by industry leaders now willing to bet heavily
with investing and spending in the sector.
Google,
Facebook, General Motors and Walmart, along with over 300 other companies, recently announced the launch of
the Renewable Energy Buyers Alliance (REBA),
which will be the largest group of corporate renewable energy buyers in the
United States. By working to unlock the marketplace for organizations to buy
renewable energy, REBA hopes to bring more than 60 gigawatts of new renewables
online in the United States by 2025.
Read this in full at https://www.investorideas.com/news/2019/renewable-energy/05162SmartEnergy.asp
"Every
enterprise - whether it's a bakery, a big-box retailer, or a data center - should
have an easy and direct path to buy clean energy. Ultimately, sourcing clean
energy should be as simple as clicking a button," said Michael Terrell,
head of Energy Market Strategy, Google, and REBA's first Board Chair.
"Today's
REBA launch demonstrates that large energy buyers from across every sector are
committed to doing their part to solve this problem," said Rob Threlkeld, Global
Manager, Sustainable Energy/Supply Reliability at General Motors.
This
development has helped spark a spending surge in the sector and smaller
companies offering solutions are directly benefiting from the revenue flow.
CleanSpark,
Inc. (OTCQB: CLSK), a microgrid company with
advanced engineering, software and controls for innovative distributed energy
resource (DER) and microgrid deployments recently announced that it has secured $2.5 million in
orders for its intelligent automatic transfer switch (ATS) switchgear. The
Company's Intelligent ATS switchgear is used to automatically transfer power
supply from its primary source to a backup source when it senses a failure or
outage in the primary source, thus ensuring uninterrupted power. It also allows
the end-user the opportunity to participate in regional energy markets when it
makes financial sense to sell surplus power back to the grid.
CleanSpark's new order is to a current customer that
provides back-up power solutions and microgrids to its clients. The end user of the Company's intelligent ATS
switchgear from this order is a regional grocer located in the state of
Texas. In addition to the $2.5 million
order, this week the Company also shipped the first units of a limited trial
contract for an order of its intelligent ATS switchgear for end use by one of
the nation's largest retailers, with over 6,300 stores in the US. If successful, this trial could result in a
significant number of additional units during the next couple of years.
"Our continued order wins are the result of the high
quality of our products and the close relationships that we have with our
customers. This new order will provide
improved visibility in upcoming quarters and contribute to our strong growth
outlook," said CEO of CleanSpark, Matthew Schultz.
Mr. Schultz continued, "We are particularly excited
about the trial that is taking place with a large national retailer and are
optimistic of a successful outcome. If
successful, this would result in very significant orders having a positive
impact on our business for the next several years. As grid related power outages become
disruptive to business operations, we think the need for backup power sources
will drive increased demand for our products."
Enphase
Energy, Inc. (NASDAQGM: ENPH), a global energy technology company and the world’s
leading supplier of solar microinverters recently announced their
financial results for the first quarter of 2019, which included a summary from
its President and CEO, Badri Kothandaraman.
He commented on the company’s financial results saying, “Our
first quarter revenue was $100.2 million, an increase of 9% sequentially and an
increase of 43% year-over year. We shipped approximately 306 megawatts DC, or
976,410 microinverters and we continued to see strong demand across the board
from our customers, overcoming the typical first quarter seasonality in the
solar industry.”
On April 15, 2019, the company also announced that over
2,500 homeowners have joined the Enphase Upgrade Program, a service program
that gives homeowners several options for upgrading to the latest, more
efficient and reliable micro inverter technology from Enphase. This program is
for warranty holders of legacy Enphase microinverters and represents the
Company’s commitment to quality and service. Participation is entirely
voluntary, and Enphase continues to stand by the warranties for its products in
the field.
Questor Technology Inc. (TSX-V: QST) also announced its financial and operating
results for the first quarter of 2019.
Audrey Mascarenhas, President and Chief Executive Officer
of Questor commented, “The Questor team delivered strong results for Q1 2019
with the highest quarterly revenue, profit and earnings per share in the
Company’s history. Our first quarter 2019 revenue grew by 29% to $7.7 MM
compared to the same period from 2018. This is a direct result of our top
performing emissions control technology that is being recognized for its 99.99%
efficiency, superior technical and field support, sales initiatives to secure
longer-term rental contracts and the recognition of revenue from the
incineration and heat to power project recently awarded in Mexico.”
“The
strong performance in the first quarter of 2019 is a result of great effort by
the Company to secure contracts and to continually succeed in accessing new
markets. The combination of an increased sales contribution and the Company
securing longer-term rental contracts with rate-based incentives has resulted
in an 11% increase in gross profit over the same 3-month period in 2018. The
Company continues to pursue areas for our rental incineration which has been
critical to the penetration and success in North Dakota and to our initial
entry into Texas, Wyoming and New Mexico. We are targeting spending between
$7-10 million this year on the rental fleet to support our continued growth.
The Company has managed to secure 40% of the rental fleet on rate-incentive
based longer-term contracts that has allowed for efficient planning within our
Operations while solidifying a predictable outlook of growing activity,”
Mascarenhas continued.
UGE
International Ltd. (TSX-V: UGE) (OTCQB: UGEIF), a leader in solar solutions for
the commercial and industrial sector recently announced several
project updates in Canada and the USA.
In Canada, UGE reached substantial completion on the last
four sites of its Peterborough portfolio earlier this month, meaning that the
full 15-site, 9MW portfolio is now operational. The portfolio is the Company's
largest to date.
"Building solar projects in Ontario in the winter is
a significant challenge and we are very thankful to both the UGE project team
and the Peterborough Utilities team for their dedication and
perseverance," stated Robert van Duynhoven, President of UGE Canada.
"The team leveraged our years of experience to work through every obstacle
faced, performing exceptionally throughout."
In addition, UGE's engineering and consulting subsidiary,
UGE Consulting Services Co, Ltd. has been awarded a phase one contract to study
the feasibility of microgrids in Burkina Faso, as well as a maintenance
contract for a previously installed commercial solar project in Ontario. In
both cases contract values were below $100,000, but above the Company's 23%
gross margin target, with work to be completed in the coming months.
In Minnesota, UGE achieved final completion on two of the
last three projects in its four-site school’s portfolio that was acquired as
part of the CSPC acquisition. The final site, which is the portfolios smallest,
is expected to achieve its final completion within the next four weeks. In
addition, UGE announced that its 3.1MW project in the northeast US with a
previously unnamed client, is with Con Edison, the New York City-based utility,
and they will be providing further updates as the project progresses.
"UGE is excited to start several new chapters in
2019, as past EPC portfolios are wrapped up and new projects in our US and
Philippines markets kick off," said UGE's CEO, Nick Blitterswyk.
"This year we expect to build a record number of projects in both markets
where we focus on self-developed opportunities."
With the help of REBA, smaller renewable energy companies
have a chance to begin to overtake the crude energy sectors, especially as
rising grid costs, energy costs and oil prices continue to be a serious issue
for any large scale company.
For investors
following solar and renewable energy stocks visit the Investorideas.com stock directory. Learn more about
investing in renewable energy at www.renewableenergysstocks.com
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