The cleantech sector in Canada is booming, and with the Federal Government’s 2017 budget plans to invest roughly $1.4 billion into the industry over the next several years, investment opportunities are also on the rise.
Case in point, there’s a plethora of cleantech stocks on Canadian stock exchanges for investors to choose from–from the Toronto Stock Exchange to the TSX Venture Exchange–and with the year the sector has had, interest in these companies is soaring. In particular, on the TSX Venture Exchange, with shares of one company in particular rising above 200 percent year-to-date.
With that in mind, here the Investing News Network (INN) looks at the five top cleantech stocks on the TSXV year-to-date. The below-listed companies have a market cap of less than $100 million and more than $10 million, with data compiled from Google Finance. Here’s a look at those companies.
1. PyroGenesis Canada (TSXV:PYR)
Market cap: $69.78 million; year-to-date gain: 280 percent; current share price: $0.76
First on our top cleantech stocks on the TSXV list is PyroGenesis Canada, a company who designs, develops, manufactures and commercializes advanced plasma processes. The company provides services to a wide range of industries, including: metallurgical, mining, additive manufacturing–which includes 3D printing–oil and gas, and environmental industries.
That said, PyroGenesis has had a lot on its plate so far in 2017. Some highlights of its year so far include: in January, the company announced it had signed an additional military contract totalling $1.2 million; while in March, PyroGenesis announced the completion of a power production system; meanwhile, at the end of April the company stated it had its first order for 3D printing powders. Then in May, Pyro announced a contract for a second phase lab scale testing program, while in June the company stated a successful delivery of its first order of titanium and inconel powders, in addition to a third powder order during ramp-up phase.
Taking all of that into consideration, it should come as no surprise that PyroGenesis Canada tops our cleantech stocks list–and in a big way.
2. UGE International (TSXV:UGE)
Market cap: $26.08 million; year-to-date gain: $94.29 percent; current share price: $0.68
Second on our top cleantech stocks on the TSXV list is UGE International. While the company is a distant second from PyroGenesis, its year-to-date stock price increase is nonetheless impressive.
UGE International has been in the business of providing electricity through renewable energy since 2008. Much like the company above, it’s been a busy first-half of the year for UGE International. In mid-March, the company announced it had signed a contract to develop and build New York City’s first community solar project. Meanwhile in May, UGE stated it will build Canada’s largest solar carport for Sheridan College. Then in June, the company released an announcement stating it had secured its largest contract in its history: building 15 projects in Peterborough.
In otherwords, it’s clear to see why shares of UGE International have been on the upward swing during the first half of the year.
3. Biorem (TSXV:BRM)
Market cap: $16.98 million; year-to-date gain: 87.23 percent; current share price: $0.44
Third on our top cleantech stocks year-to-date on the TSXV is Biroem, a company that designs, manufactures and distributes air emission control systems that are used to eliminate smells, volatile organic compounds and hazardous air pollutants.
In particular, the company’s products include: biofilters, biotrickling filters, multi-stage systems, biogas solutions, organics and anaerobic digestion. On June 20, the company announced a strategic partnership with Tus-Material Group in order to market ultrafiltration membranes. A month prior to that, Biorem released its first quarter financial results, highlighting revenue of $3.1 million–a slight decrease over the same period from the previous year.
Despite revenue loss, the company had a number of orders announced in February. Total sales orders amounted to roughly $2.1 million, suggesting there’s still plenty of reason to be excited about the company.
4. Aurora Solar Technologies (TSXV:ACU)
Market cap: $16.21 million; year-to-date gain: 77.42 percent; current share price: $0.27
Aurora Solar Technologies develops and markets inline measurement, visualization and control systems with a focus on the photovoltaic manufacturing industry.
With that in mind, the company’s two main products include Decima and Veritas. First, Decima measures emitter dopant within a crystalline silicon photovoltaic wafer. Meanwhile, Veritas maps measurements from the Decima product back to the location in the furnace for “perfect” visualization. In other words, the product allows manufacturers to manage and control the performance of each diffusion furnace.
Similar to the above companies on the list, Aurora Solar Technologies has had a lot on the go so far in 2017, highlights of which include: an order from an industry leader in Asia, undertaking a non-brokered private placement, and then subsequently closing that private placement and, finally, a “record order backlog” for the company as a result of a large volume of orders from China.
5. Nano One Materials (TSXV:NNO)
Market cap: $45.33 million; year-to-date gain: 41.51 percent; current share price: $0.75
Closing out our top cleantech stocks on the TSXV is list is Nano One Materials, a company that looks to produce low cost, high performance battery materials together with advanced nanostructured composites. The company’s primary focus is on the lithium-ion cathode materials in the energy storage sector. Its products can also be configured in nanostructured materials.
On June 26, the company announced its demonstration of the pilot plant together with the first production of lithium ion cathode materials–which has been the bulk of the company’s focus throughout the first half of the year.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.