Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The WTR Sustainable Index was up 1.3% W/W versus the S&amp;P 500 Index (down 0.5%), the Russell 2000 Index (up 0.1%), and the Nasdaq Index (down 0.2%).</li><li>Energy Technology (12.1% of the index) was up 4.2%, while Industrial Climate and Ag Technology (47.6% of the index) was up 0.5%, ClimateTech Mining was up 1.7%, and Advanced Transportation Solutions (21.5% of the index) was up 1.3%.</li><li>Top 10 Performers: AZRE, AEVA, GCEH, HLGN, ALLIF, PEV, SHLS, EAF, RUN, EVGO</li></ul>

The WTR Sustainable Index was up 1.3% W/W versus the S&amp;P 500 Index (down 0.5%), the Russell 2000 Index (up 0.1%), and the Nasdaq Index (down 0.2%).Energy Technology (12.1% of the index) was up 4.2%, while Industrial Climate and Ag Technology (47.6% of the index) was up 0.5%, ClimateTech Mining was up 1.7%, and Advanced Transportation Solutions (21.5% of the index) was up 1.3%.Top 10 Performers: AZRE, AEVA, GCEH, HLGN, ALLIF, PEV, SHLS, EAF, RUN, EVGO

Sustainable Investing Surveyor Focus on Neste Corporation

Equity Bottom-Up

<ul><li>The WTR Sustainable Index was down 0.3% W/W versus the S&amp;P 500 Index (up 0.5%), the Russell 2000 Index (up 0.6%), and the Nasdaq Index (up 0.3%).</li><li>Energy Technology (13.0% of the index) was up 0.3%, while Industrial Climate and Ag Technology (45.7% of the index) was down 0.2%, ClimateTech Mining was down 0.5%, and Advanced Transportation Solutions (22.0% of the index) was down 0.6%.</li><li>Top 10 Performers: VVPR, LITM, LAZR, AEVA, FHYD, EGT, WUC, <span style="font-size: var(--content-font-size);">NIU, SOL, AZRE</span></li></ul>

The WTR Sustainable Index was down 0.3% W/W versus the S&amp;P 500 Index (up 0.5%), the Russell 2000 Index (up 0.6%), and the Nasdaq Index (up 0.3%).Energy Technology (13.0% of the index) was up 0.3%, while Industrial Climate and Ag Technology (45.7% of the index) was down 0.2%, ClimateTech Mining was down 0.5%, and Advanced Transportation Solutions (22.0% of the index) was down 0.6%.Top 10 Performers: VVPR, LITM, LAZR, AEVA, FHYD, EGT, WUC, NIU, SOL, AZRE

Sustainable Investing Surveyor: Focus on Clean Energy Fuels (CLNE)

Bridger Aerospace Group Holdin / Equity Bottom-Up

<ul><li>The WTR Sustainable Index was down 1.3% W/W versus the S&amp;P 500 Index (down 1.7%), the Russell 2000 Index (down 3.7%), and the Nasdaq Index (down 2.3%).</li><li>Energy Technology (13.1% of the index) was down 2.2%, while Industrial Climate and Ag Technology (46.3% of the index) was down 1.8%, ClimateTech Mining was up 2.9%, and Advanced Transportation Solutions (21.7% of the index) was down 2.9%.</li><li>Top 10 Performers: SOLO, XOS, EFOI, AZRE, BNRG, KNDI, LOOP, GRB, EGT, CRE</li></ul>

The WTR Sustainable Index was down 1.3% W/W versus the S&amp;P 500 Index (down 1.7%), the Russell 2000 Index (down 3.7%), and the Nasdaq Index (down 2.3%).Energy Technology (13.1% of the index) was down 2.2%, while Industrial Climate and Ag Technology (46.3% of the index) was down 1.8%, ClimateTech Mining was up 2.9%, and Advanced Transportation Solutions (21.7% of the index) was down 2.9%.Top 10 Performers: SOLO, XOS, EFOI, AZRE, BNRG, KNDI, LOOP, GRB, EGT, CRE

Sustainable Investing Surveyor: Focus on Bridger Aerospace (BAER)

<ul><li>The WTR Sustainable Index was down 0.2% W/W versus the S&amp;P 500 Index (up 1.5%), the Russell 2000 Index (flat) and the Nasdaq Index (up 2.9%).</li><li>Energy Technology (13.2% of the index) was down 1.4%, while Industrial Climate and Ag Technology (46.5% of the index) was up 0.5%, ClimateTech Mining was down 1.1%, and Advanced Transportation Solutions (22.1% of the index) was up 1.5%.</li><li>Top 10 Performers: LILM, PEV, LBNK, NXH, AZRE, MVST, GOEV, EH, IRBT, NKLA</li></ul>

The WTR Sustainable Index was down 0.2% W/W versus the S&amp;P 500 Index (up 1.5%), the Russell 2000 Index (flat) and the Nasdaq Index (up 2.9%).Energy Technology (13.2% of the index) was down 1.4%, while Industrial Climate and Ag Technology (46.5% of the index) was up 0.5%, ClimateTech Mining was down 1.1%, and Advanced Transportation Solutions (22.1% of the index) was up 1.5%.Top 10 Performers: LILM, PEV, LBNK, NXH, AZRE, MVST, GOEV, EH, IRBT, NKLA

Sustainable Investing Surveyor Focus on FutureFuel (FF)

<ul><li>The WTR Sustainable Index was up 0.5% W/W versus the S&amp;P 500 Index (down 0.2%), the Russell 2000 Index (down 0.3%) and the Nasdaq Index (up 0.1%).</li><li>Energy Technology (13.3% of index) was down 1.2%, while Industrial Climate and Ag Technology (46.6% of index) was up 0.3%, ClimateTech Mining was up 0.4%, and Advanced Transportation Solutions (21.7% of index) was up 2.0%.</li><li>Top 10 Performers: FGPHF, AZRE, CRE, LTBR, NVVE, OPTT, AMSC, TGEN, VLI, ELBM</li></ul>

The WTR Sustainable Index was up 0.5% W/W versus the S&amp;P 500 Index (down 0.2%), the Russell 2000 Index (down 0.3%) and the Nasdaq Index (up 0.1%).Energy Technology (13.3% of index) was down 1.2%, while Industrial Climate and Ag Technology (46.6% of index) was up 0.3%, ClimateTech Mining was up 0.4%, and Advanced Transportation Solutions (21.7% of index) was up 2.0%.Top 10 Performers: FGPHF, AZRE, CRE, LTBR, NVVE, OPTT, AMSC, TGEN, VLI, ELBM

Weekly Sustainable Investing Surveyor - February 10, 2025

India

Azure Power Global Limited operates as an independent solar power producer. The Company designs, constructs, maintains, and operates solar energy projects. Azure Power Global serves customers worldwide.

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Azure Power Global Ltd (AZRE US)

Sustainable Investing Surveyor Focus on Neste Corporation

The WTR Sustainable Index was up 1.3% W/W versus the S&P 500 Index (down 0.5%), the Russell 2000 Index (up 0.1%), and the Nasdaq Index (down 0.2%).

Water Tower Research

Sustainable Investing Surveyor: Focus on Clean Energy Fuels (CLNE)

The WTR Sustainable Index was down 0.3% W/W versus the S&P 500 Index (up 0.5%), the Russell 2000 Index (up 0.6%), and the Nasdaq Index (up 0.3%).

Water Tower Research

Sustainable Investing Surveyor: Focus on Bridger Aerospace (BAER)

The WTR Sustainable Index was down 1.3% W/W versus the S&P 500 Index (down 1.7%), the Russell 2000 Index (down 3.7%), and the Nasdaq Index (down...

Water Tower Research

Sustainable Investing Surveyor Focus on FutureFuel (FF)

The WTR Sustainable Index was down 0.2% W/W versus the S&P 500 Index (up 1.5%), the Russell 2000 Index (flat) and the Nasdaq Index (up 2.9%).

Water Tower Research

Weekly Sustainable Investing Surveyor - February 10, 2025

The WTR Sustainable Index was up 0.5% W/W versus the S&P 500 Index (down 0.2%), the Russell 2000 Index (down 0.3%) and the Nasdaq Index (up 0.1%).

Water Tower Research

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