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Cleantech Investing
5 Best-performing Canadian Cleantech Stocks of 2024
Jan. 01, 2025 01:30PM PST
Explore news from the five best-performing Canadian cleantech stocks of 2024, including Anaergia, BIOREM and Tantalus Systems.
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The global transition to a green economy has been a boon for the cleantech market — it's helping investment in renewable energy and clean technology continue to grow, allowing the sector to keep building momentum.
Analysts see a few key trends dominating the cleantech sector worldwide, including solar and wind energy, agricultural technology, electric vehicles (EVs), EV infrastructure and clean energy commercial long-haul transportation solutions.
Heading into 2025, here’s a look at the best-performing Canadian cleantech stocks on the TSX and TSXV year-to-date; CSE companies were considered, but none made the list at this time.
Data for this article was gathered on December 29, 2024, using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million are included.
1. Anaergia (TSX:ANRG)
Year-to-date gain: 260 percent
Market cap: C$152.37 million
Share price: C$0.90
Anaergia is a global company that specializes in converting waste, including wastewater and agricultural and municipal solid waste, into renewable energy, clean water and organic fertilizer.
It has operations in 17 countries spanning North America, Africa, Asia and Europe.
On July 10, Anaeriga announced the completion of a strategic investment, saying it had closed the third tranche of a C$40.8 million investment deal with Marny Investissement. The deal gives Marny a controlling interest in Anaergia as it now owns over 60 percent of the company's outstanding shares.
In December, the company extended its reach with new contracts to operate in California. It also signed a deal to provide organic waste as an energy source for PepsiCo's (NASDAQ:PEP) operations in Colombia.
Anaergia is slated to attend several cleantech conferences around the world in 2025.
2. BIOREM (TSXV:BRM)
Year-to-date gain: 223.23 percent
Market cap: C$51.58 million
Share price: C$3.20
BIOREM is a cleantech engineering company that develops air emissions abatement technologies using biological processes like biotrickling filtration, a process by which polluted gas is absorbed and degraded by microorganisms into harmless substances. The company's systems are capable of removing a wide array of pollutants, and it can design effective solutions tailored to meet specific needs and site requirements.
The firm collaborates with municipalities, industrial facilities, oil and gas companies and landfill operators.
3. Tantalus Systems (TSX:GRID)
Year-to-date gain: 143.75 percent
Market cap: C$95.28 million
Share price: C$1.95
Tantalus Systems provides technology that gives utilities greater control and insight into their electric grids.
This includes advanced metering infrastructure (AMI), load management systems and grid analytics, all of which contribute to a more efficient and reliable power grid.
One of its key products, TRUConnect AMI, provides real-time data on energy consumption and grid conditions. The TRUFlex Load+DER Management system helps manage energy demand and integrate distributed energy resources like solar power, while TRUGrid Automation optimizes grid operations and improves response to events like power failures.
4. CVW CleanTech (TSXV:CVW)
Year-to-date gain: 25.33 percent
Market cap: C$136.03 million
Share price: C$0.94
CVW CleanTech is focused on making the Canadian oil sands industry more sustainable.
The company's technology recovers bitumen and valuable minerals like titanium and zircon from oil sands tailings ponds, reducing the environmental impact of oil and gas production.
In 2024, the company transitioned to a royalty-based model, investing in other cleantech companies in exchange for a share of their revenue. Its first royalty investment was in Northstar Clean Technologies (TSXV:ROOF,OTCQB:ROOOF), a company with technology that processes end-of-life asphalt shingles into components including liquid asphalt, as well as aggregate and fiber for industrial use. The deal was finalized in September.
5. DynaCERT (TSX:DYA)
Year-to-date gain: 9.37 percent
Market cap: C$76.83 million
Share price: C$0.18
DynaCERT specializes in improving the fuel efficiency of diesel engines with its HydraGEN technology, which expanded into South American mines in 2024. The system adds hydrogen to the air intake of the engines, which reduces the emissions of pollutants like nitrogen oxide, resulting in cleaner combustion.
The company's technology works with traditional diesel engines and is being used across a wide range of heavy-duty industries, including transportation, mining and construction.
In recent years, DynaCERT has been collaborating with another alternative fuel company, Cipher Neutron, to accelerate the development of Cipher Neutron’s alkaline exchange membrane (AEM) electrolysis technology, a cheaper, more efficient method of producing green hydrogen. On June 11, DynaCERT acquired 15 percent ownership of Cipher Neutron.
On July 16, DynaCert announced that Cipher Neutron had been awarded a contract for a joint project with Simon Fraser University (SFU) in BC, Canada. The university hosts the SFU Clean Hydrogen Hub, at which Cipher Neutron will develop and deploy two 250 kilowatt AEM electrolyzer stacks. The technology splits water into hydrogen and oxygen using electricity, making it a key process for producing low-cost green hydrogen.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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