With the year almost over, the Investing News Network looks at the top cleantech stocks on the TSX in 2017.
2017 was a massive year of growth for the the Canadian cleantech sector. In April, the Federal Government pledging nearly $1.4 billion into the industry over the next four years and individual provincial governments pledged to do the same.
In other words, the year was full of ample opportunities for investors to jump into the space. On the Toronto Stock Exchange, there are approximately 36 cleantech-related companies that range from energy efficiency, low impact material and products, renewable energy equipment manufacturing and tech, renewable energy production and distribution, and waste reduction and water management.
With that in mind, here the Investing News Network (INN) takes a look back on the top TSX cleantech stocks of 2017. The companies listed below have market caps of less than $650 million but not less then $50 million, with data compiled from Google Finance. Read on to learn more about what these companies have been up to in 2017.
1. Village Farms International (TSX:VFF)
Market cap: $291.64 million; current share price: $7.44; 2017 percentage gain: 495.93 percent
First on our top TSX cleantech stocks list of 2017 is Village Farms International. With its main operations in Delta, BC, the company produces greenhouse-grown tomatoes, bell peppers and cucumbers around North America. Village Farms International also operates between two segments: the Produce and Energy businesses. The company owns and operates seven greenhouse facilities between British Columbia and Texas.
Some of the company’s big news of the year includes: a joint venture for a large scale greenhouse cannabis production, announced on June 6, 2017; an update to its cannabis joint venture in November, where Village Farms detailed that it had applied for a second site cultivation license on September 14; and a $13.5 million bought deal public offering, announced December 4 and projected to close on December 21, 2017.
2. Westport Fuel Systems (TSX:WPRT)
Market cap: $628.05 million; current share price: $4.82; 2017 percentage gain: 211.18 percent
The second company our top TSX cleantech stocks year-end list is Westport Fuel Systems.
Westport Fuel Systems, who provides low-emission engine and fuel system technologies by way of gaseous fuels. With headquarters in Vancouver, BC the company serves customers in over 70 countries with a range of global transportation and industrial application brands.
In early Q4 2017, Westport Fuel Systems announced that it was awarded NAFTAL Tender bid by Algeria’s National Company for Petroleum Products Marketing and Distribution to supply 40,000 liquid petroleum gas sequential injection systems to be delivered in the Algerian market beginning in 2018.
3. Hydrogenics (TSX:HYG)
Market cap: $213.26 million; current share price: $14; 2017 percentage gain: 127.13 percent
Middle of the pack on our TSX cleantech stocks list for 2017 is Hydrogenics.
Hydrogenics designs and manufactures hydrogen generation products based off of water electrolysis technology together with fuel cell products based on proton exchange membrane technology.
The company provides solutions in a range of applications, including: PEM and alkaline hydrogen generators for industrial processes and fueling stations; hydrogen fuel cells for electric vehicles such as urban transit buses, commercial fleets and utility vehicles and electric lift trucks, and fuel cell installations for freestanding electrical power plants, critical power and UPS systems, to name a few.
One of the company’s big announcements this year came in June, when it stated that it had closed a $21 million private placement of the company to Fuzhou Bonded Zone Hejli Equity Investment.
4. 5N Plus (TSX:VNP)
Market cap: $257.58 million; current share price: $3.07; 2017 percentage gain: 67.6 percent
5N Plus produces speciality metal and chemical products used in the pharmaceutical, electronic and industrial industries. The company has two segments: the Electronic Materials and Eco-Friendly Materials, which manufacture, sell refined bismuth chemicals, low melting-point alloys, and refined selenium and selenium materials.
5N Plus announced in Q4 2017 its entry into specialised materials for the feeds additive industry, which is expected to be a market valued at $5 billion by 2022.
5. Alterra Power (TSX:AXY)
Market cap: $466.46 million; current share price: $7.92; 2017 percentage gain: 53.55 percent
Closing out our top TSX cleantech stocks for 2017 is none other than Alterra Power, a renewable energy company that currently manages eight power plants with roughly 825 megawatts of hydro, wind, geothermal and solar generation capacity split between Canada, the US and Iceland.
That said, it was announced at the end of October the cleantech mammoth Innergex (TSX:INE) will be acquiring Alterra Power. In mid-November, it was then announced that a special meeting of Alterra shareholders would be held to consider the proposed acquisition of Innergex, held December 14 which was then approved.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.