Top Canadian Cleantech Stocks

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Heading into 2021, investment in renewable energy and clean technology looks strong despite setbacks due to the unexpected COVID-19 pandemic. 

Analysts expect a few key trends to dominate the global cleantech sector in 2021, such as offshore wind energy, electric vehicles (EVs), EV infrastructure and clean energy commercial long-haul transportation solutions, such as hydrogen and energy storage installations.

Moving into the second quarter, here’s a look at the top Canadian cleantech stocks on the TSX and TSXV so far in 2021. All companies listed had market caps of at least C$10 million as of April 13, 2021. Numbers and figures were current at that time, with data gathered using TradingView’s stock screener.

1. Sparta Capital (TSXV:SAY)

Year-to-date gain: 275 percent; current share price: C$0.15

Sparta Capital manufactures and distributes energy-saving technologies and provides green energy services to commercial sectors. Its has three business segments: capturing lost waste energy; converting existing waste for other uses and into new consumable forms; and optimizing energy efficiencies.

Sparta’s pivot toward joining the fight against COVID-19 earlier in the year helped push its share price to its highest point so far in 2021, reaching C$0.32 on March 1. In late February, Sparta announced that its COVID-19 Safety System had been authorized by Health Canada and could begin to offer “the Canadian trucking industry, as well as individuals in other business sectors, both antibody and antigen rapid tests as they endeavor to maintain a healthy workforce.”

2. Solarvest BioEnergy (TSXV:SVS)

Year-to-date gain: 155 percent; current share price: C$0.49

Solarvest BioEnergy is a research and development company with a proprietary advanced micro-algae technology platform. It has a portfolio of diverse applications based on this platform, including Omega-3 fatty acids for the global nutraceutical market and the biological production of clean energy hydrogen.

Solarvest’s patented process is able to harvest solar energy and induce algae’s natural enzymes to break water down into oxygen and hydrogen to create a clean-burning fuel. In early April, news of Solarvest’s partnership with the Scoular Company helped drive the company’s stock to its highest point so far in 2021, C$0.56 on April 9. Together the duo will develop commercial production of Omega-3 fatty acids based on Solarvest’s algae technology platform

3. Thermal Energy International (TSXV:TMG)

Year-to-date gain: 127.27 percent; current share price: C$0.25

Thermal Energy International is a global cleantech company with a fully accredited professional engineering firm and a portfolio of proprietary and proven energy-efficiency and emission-reduction technologies for the industrial and institutional sectors. The company designs, builds and supplies clean technologies that are able to capture up to 80 percent of wasted energy from boiler plant and steam system operations, and cost-effectively recycle the energy back into these processes. Its customers include many Fortune 500 and multinational companies across a wide range of industries.

In late February, Thermal Energy was commissioned by a prominent multinational brewer to supply a heat-recovery system valued at over US$1 million to one of its North American sites. The system will reduce fuel use and minimize carbon emissions. In mid-March, the company was commissioned to design and implement an extensive US$1.18 million heat-recovery project with a major US dairy group. The tech stock hit C$0.29 on April 9, its highest point so far in 2021.

4. Clearford Water Systems (TSXV:CLI)

Year-to-date gain: 100 percent; current share price: C$0.04

Clearford Water Systems is a provider of unified water management and sanitation systems. It operates approximately 200 water and wastewater treatment plants throughout Ontario, making it the largest operator of privately owned communal water and wastewater treatment systems in the province. The company provides full-service water infrastructure management, including all operations, maintenance and regulatory compliance for water and wastewater treatment systems.

UV Pure Technologies, a subsidiary of Clearford Water Systems, manufactures advanced ultraviolet water disinfection systems for residential, commercial, industrial, public and municipal applications. Its patented Crossfire Technology and Hallett product line are installed across locations worldwide.

The highest point for the cleantech stock so far in 2021 was C$0.09, which it reached on March 2.

5. Eguana Technologies (TSXV:EGT)

Year-to-date gain: 93 percent; current share price: C$0.41

Eguana Technologies offers a complete line of proprietary utility-interactive energy storage systems for residential and commercial fuel cell, photovoltaic and battery applications in Asia, Australia, Canada, Europe and the US. The company provides for residential and small commercial applications.

In late January, Eguana released its 2020 financial statement, showing that revenue increased year-over-year by 132 percent to C$7.9 million. The company went on to raise C$20 million in a private placement completed in late February. Shares reached their highest point in 2021 on February 17 at C$0.61.

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