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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

Equity Bottom-Up

<ul><li>The team at BNRG identified industrial heat early on as an often-overlooked segment in energy transition.</li><li>Industrial heat comprises about 25% of global energy use and emissions, while heat in general accounts for more than 50%.</li><li>BNRG’s innovative technology addresses a market need for a “heat battery” that stores heat generated from renewable electricity and delivers it on demand at a discount to the cost of natural gas, and with no emissions.</li></ul>

The team at BNRG identified industrial heat early on as an often-overlooked segment in energy transition.Industrial heat comprises about 25% of global energy use and emissions, while heat in general accounts for more than 50%.BNRG’s innovative technology addresses a market need for a “heat battery” that stores heat generated from renewable electricity and delivers it on demand at a discount to the cost of natural gas, and with no emissions.

Thematic (Sector/Industry)

<ul><li>Last week, the WTR Sustainable Index was up 3.4% W/W versus the S&amp;P 500 Index (up 0.9%), the Russell 2000 Index (up 3.1%), and the Nasdaq Index (up 0.4%).</li><li>Energy Technology (41% of the index) was up 3.1%, while Transportation Solutions (33% of the index) was up 3.9%, Climate Tech and Clean Tech (19% of the index) was up 2.7%, and Climate Tech Mining and Processing (7% of the index) was up 3.3%.</li><li>Top 10 Performers: AMYZF, XPON, GRNWF, GEVO, RIDE, SUUN, BNRG, ARRY, FSI, PPSI</li></ul>

Last week, the WTR Sustainable Index was up 3.4% W/W versus the S&amp;P 500 Index (up 0.9%), the Russell 2000 Index (up 3.1%), and the Nasdaq Index (up 0.4%).Energy Technology (41% of the index) was up 3.1%, while Transportation Solutions (33% of the index) was up 3.9%, Climate Tech and Clean Tech (19% of the index) was up 2.7%, and Climate Tech Mining and Processing (7% of the index) was up 3.3%.Top 10 Performers: AMYZF, XPON, GRNWF, GEVO, RIDE, SUUN, BNRG, ARRY, FSI, PPSI

Sustainable Investing Surveyor Focus on NHHHF - August 18, 2025

United States

Brenmiller Energy Ltd designs, builds, and operates solar power plants. The Company develops storage-based generation systems that combines thermal storage, inherent heat exchanging, and inherent steam generation in one unit. Brenmiller Energy serves customers worldwide.

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Brenmiller Energy (BNRG US)

WTR Small-Cap Spotlight Recap (BNRG)

The team at BNRG identified industrial heat early on as an often-overlooked segment in energy transition. Industrial heat comprises about 25% of...

Water Tower Research

Sustainable Investing Surveyor Focus on NHHHF - August 18, 2025

Last week, the WTR Sustainable Index was up 3.4% W/W versus the S&P 500 Index (up 0.9%), the Russell 2000 Index (up 3.1%), and the Nasdaq Index (up...

Water Tower Research

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