What are the cleantech stocks listed on the ASX? INN takes a deeper look at the burgeoning cleantech industry in Australia.
According to the Cleantech Group, energy storage is becoming a major trend within the cleantech space. It notes that solid-state battery developers may gain broader investor interest as these companies are ramping up commercialization objectives as electric vehicle demand increases.
In Australia, studies have shown that the country has the ability to make major shifts in the cleantech sector. According to the Australian Energy Market Operator, the nation has the ability to move from a gas– and coal-powered electricity system to one completely driven by renewable resources such as solar power and wind energy.
Australian CleanTech defines cleantech as “economically viable products, services and processes that harness renewable materials and energy sources, dramatically reduce the use of natural resources and cut or eliminate emissions and wastes.”
The Cleantech Group further notes that Australia has witnessed an increase in projects powered by clean energy and solar power.
Here, the Investing News Network takes a look at nine ASX cleantech stocks. All companies had market caps between AU$50 million and AU$500 million at the time of publication, according to data from Investing.com. Companies are listed in alphabetical order.
1. 1414 Degrees (ASX:14D)
Market capitalization: AU$50.85 million; share price: AU$0.29
1414 Degrees is an energy storage company that aims to disrupt the energy market through its thermal energy storage systems (TESS). With a broad range of TESS solutions, 1414 Degrees offers smart heating and electrical solutions that are built to last over 20 years; they are used in residential developments, waste management facilities, shopping centers and commercial buildings. TESS systems store latent heat in molten silicon at 1414 degrees Celsius, an optimal temperature for energy efficiency. The company completed the first thermal energy storage system powered by biogas in March 2019. The project was completed through a mechanical installation.
In May 2019, 1414 Degrees entered a joint venture with Glenelg Wastewater Treatment Plant to provide 10 biogas burners and silicon storage solutions.
2. BidEnergy (ASX:BID)
Market capitalization: AU$78.15 million; share price: AU$0.70
With global operations throughout Australia, New Zealand, the United Kingdom and the US, BidEnergy provides a number of different cleantech solutions, including auction platforms to reduce costs, subscription models for energy spend management, robotic process automation (RPA) and energy bill validation. BidEnergy’s clients include companies such as General Electric (NYSE:GE) and BP (NYSE:BP).
Through cloud computing and its RPA technology, the company collects and validates energy data from a number of sites, with the ability to simultaneously collect thousands of bills in a short period of time. BidEnergy’s services help companies optimize utility tariffs and understand any associated costs while providing clients access to energy usage data.
3. Bluglass (ASX:BLG)
Market capitalization: AU$77.40 million; share price: AU$0.18
Founded in 2005, Bluglass develops sustainable technology for the production of LED lights, power electronics and concentrated solar cells. Through its development of remote plasma chemical vapor deposition, Bluglass is creating low-temperature technology and aiming to improve semiconductor processes. In addition, Bluglass has a number of patents in the US, Japan, China and Europe.
Bluglass created BluSolar in 2009 to focus on solar cell technology. Through the application of its proprietary technology, Bluglass aims to apply recent research that suggests that it is possible to fully convert the spectrum of sunlight energy into electrical power.
4. Buddy Technologies (ASX:BUD)
Market capitalization: AU$97.46 million; share price: AU$0.05
Buddy Technologies provides monitoring technologies for companies to track and examine energy consumption. Its monitoring system, called Buddy Ohm, is designed for the residential, commercial and industrial sectors to track electrical, water, gas and steam usage. Its larger-scale platform, BuddyCloud, is focused on providing control systems and monitoring services for establishing smarter cities through sensors, data collection and data exchange platforms.
Buddy Technologies aims to lessen the environmental impact of buildings. According to the International Energy Agency, 40 percent of a city’s CO2 emissions are derived from buildings.
5. BuildingIQ (ASX:BIQ)
Market capitalization: AU$13.13 million; share price: AU$0.04
Founded in 2012, BuildingIQ is an energy management platform built on five main substrates: data capture analysis, closed-loop predictive control, advanced monitoring, measurement and verification and expert insight. The company has developed the BuildingIQ app, which allows building managers to control building temperature, track occupied building hours, collect feedback from tenants and track building progress. BuildingIQ’s principal engagements surround lowering energy costs for building managers.
In addition, BuildingIQ provides a fully autonomous demand response service that integrates predictive analytics solutions for energy incidents. Its demand response service has some similarities to its predictive energy optimization (PEO) system, which tailors ideal temperatures and energy usage for buildings. PEO integrates data points from the outside temperature, energy prices, tariffs and building occupancy to optimize services in real time.
6. Enevis (ASX:ENE)
Market capitalization: AU$13.98 million; share price: AU$0.21
With headquarters in Melbourne, Enevis offers energy solutions across a wide range of areas such as horticultural lighting, streetlights and columns, energy rebate auditing and LED lighting. Enevis works with architects and builders to provide a suite of services in order to improve and install energy-efficiency solutions. With expertise in building integration, design and developing special purpose products, Enevis aims to reduce power costs and inefficiencies.
Within its electrical services division, for example, Enevis provides electrical installation services that can reduce energy costs by up to 50 percent. To accomplish this, Enevis installs a central control system that accounts for lighting, security control, air conditioning, irrigation and audiovisual.
7. Phoslock Environmental Technologies (ASX:PET)
Market capitalization: AU$435.05 million; share price: AU$0.79
The largest company on this list, Phoslock provides its patented water technology to remove phosphorus from lakes, reservoirs and ponds. Phosphorous is damaging to water quality as it negatively impacts drinking water and the overall water ecosystem. Phoslock is applied as a surface spray to bodies of water as a granule or a slurry to counter its negative effects. Its low toxicity features allow it to be a viable contender for water management solutions.
There have been a number of case studies for Phoslock. In one of the earliest European cases, Phoslock was applied to the Silbersee Lake in Germany. After treatment, phosphorus levels were reduced in the lake and it remained operable and open to the public for continued use.
8. Redflow (ASX:RFX)
Market capitalization: AU$38.32 million; share price: AU$0.04
Redflow is primarily an energy storage company that develops batteries, ZCELL and ZBM2, for durable energy storage uses. ZCELL allows clients to use solar energy when needed through integration with solar panels. This means that customers do not need to connect to a power grid, offering clients independence and the ability to keep the lights on even during a power outage. These applications are made possible through the ZCELL’s ability to store 10 kilowatt hours of energy storage daily.
Redflow’s batteries are made from largely recyclable and reused materials, decreasing CO2 impact.
9. Rectifier Technologies (ASX:RFT)
Market capitalization: AU$64.24 million; share price: AU$0.04
As the last company on our ASX cleantech companies list, Rectifier Technologies provides power-efficiency services to industries including oil and gas, telecom, defense and utilities.
Its low-voltage powershelves have 9.6 kilowatt (kW) output power capabilities and detect Earth leakages. Rectifier also offers electric vehicle home chargers with 11 kW output power; these are applicable outdoors and indoors. Included in its product offerings are a number of modules that provide output power from 1.4 kW to 29 kW for electric vehicle charging, DC UPS power systems and internet data control power systems.
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Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.