Top Canadian Cleantech Stocks

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In 2020, the unexpected COVID-19 pandemic impacted all sectors and levels of society, with lockdowns and physical distancing becoming the new normal. 

Like other industries, cleantech experienced setbacks due to the virus, but a number of companies still saw momentum and were able to end the 12 month period with major share price increases.

As the new year begins, here’s a look at 2020’s top Canadian cleantech stocks on the TSX and TSXV.

All top Canadian cleantech stocks listed had market caps of at least C$10 million as of January 4, 2021. Numbers and figures were current at that time, with data gathered using TradingView’s stock screener.

1. Electrovaya (TSX:EFL)

Year-to-date gain: 727.78 percent; current share price: C$1.49

Headquartered in Ontario, Canada, Electrovaya designs, develops and manufactures proprietary lithium-ion batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications.

The company’s share price momentum began midway through the year in July. That month, Electrovaya released its latest quarterly results, reporting a four-fold increase in revenue year-on-year; it also received a US$3 million purchase order for lithium-ion batteries for electric trucks. Shares of Electrovaya reached a peak of C$1.73 on November 27, just after the company achieved a UL2580 listing across its line of 24 and 36 volt forklift batteries.

2. Good Natured Products (TSXV:GDNP)

Year-to-date gain: 400 percent; current share price: C$0.90

Good Natured Products is a producer and distributor of renewable, plant-based everyday products. Its more than 385 offerings include food packaging and medical and industrial supplies.

The company’s share price was fairly flat in 2020 until the beginning of October; it peaked at C$1.35 on December 10. Good Natured Products’ news from the fourth quarter includes the acquisition of Integrated Packaging Films, a deal that was announced and closed in December. Aside from that, the company teamed up with Flax4Life, and its most recent quarterly results indicate a year-on-year revenue increase of 47 percent to just over C$4.66 million.

3. Aurora Solar Technologies (TSXV:ACU)

Year-to-date gain: 366.67 percent; current share price: C$0.35

Aurora Solar Technologies develops and delivers inline process measurement, analysis and control systems for solar cell manufacturers. According to the top Canadian cleantech stock, some of the world’s most advanced solar cell manufacturers use its products.

After an even first half of the year, the company’s share price began climbing around the end of August. News from Aurora Solar in H2 included an order from an existing customer for a DM-110h for use in solar cell and module research and development. The company also announced a strategic partnership with WAVELABS Solar Metrology Systems; the two comapnies will integrate Aurora’s Insight data science product for solar cell production yield optimization with WAVELABS’ solar cell testers.

4. Nano One Materials (TSXV:NNO)

Year-to-date gain: 355.56 percent; current share price: C$5.33

Nano One Materials describes itself as a technology company with a patented and scalable industrial process for the production of low-cost, high-performance cathode powders used in lithium-ion batteries.

The company’s share price has been trending up since the beginning of July, and it released a slew of news during that time. Among other events, Nano One entered into a joint development agreement with a multibillion-dollar Asian cathode material producer and announced a breakthrough in longevity for a cobalt-free, high-voltage battery. Aside from that, it entered into a cathode evaluation agreement with a major global automotive company.

5. Environmental Waste International (TSXV:EWS)

Year-to-date gain: 327.27 percent; current share price: C$0.24

Environmental Waste International is focused on designing and developing eco-friendly systems for the breakdown of organic materials, including tires. Its systems integrate its patented reverse polymerization process and proprietary microwave delivery system.

Like many of the other top Canadian cleantech stocks on this list, Environmental Waste saw most of its upward share price momentum in the second half of 2020. It spiked to C$0.26 on September 1, the day Ontario’s Ministry of Environment, Conservation and Parks gave the company approval to operate its tire recycling plant as a commercial facility. Environmental Waste reached C$0.27, its highest point of the year, on both December 17 and 29.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.