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 by 1.0% W/W versus the S&amp;P 500 Index (up 1.4%), the Russell 2000 Index (down 0.8%), and the Nasdaq Index (up 1.3%).</li><li>Energy Technology (13.9% of the index) was up by 5.1%, while Industrial Climate and Ag Technology (54.5% of the index) was up 1.1%, ClimateTech Mining was down 5.4%, and Advanced Transportation Solutions was up 0.1%.</li><li>Top 10 Performers: EVTV, PLUG, JEV, NXT, VIEW, PGTK, LCID, NAAS, ANRG, ELBM</li></ul>

The WTR Sustainable Index was up by 1.0% W/W versus the S&amp;P 500 Index (up 1.4%), the Russell 2000 Index (down 0.8%), and the Nasdaq Index (up 1.3%).Energy Technology (13.9% of the index) was up by 5.1%, while Industrial Climate and Ag Technology (54.5% of the index) was up 1.1%, ClimateTech Mining was down 5.4%, and Advanced Transportation Solutions was up 0.1%.Top 10 Performers: EVTV, PLUG, JEV, NXT, VIEW, PGTK, LCID, NAAS, ANRG, ELBM

Weekly Sustainable Investing Surveyor - Week Ended February 2, 2024

Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

Jericho Energy Ventures  / Equity Bottom-Up

<ul>
<li>JEV reported Q3 financial results that were in line with our expectations.</li>
<li>Its O&amp;G JV was EBITDA positive again this quarter, reminding us that JEV can effectively redeploy cashflow from the low multiple O&amp;G business to the high multiple hydrogen business.</li>
<li>Production from its O&amp;G JVs was consistent with last quarter, posting positive EBITDA due to the higher commodity prices.</li>
</ul>


JEV reported Q3 financial results that were in line with our expectations.
Its O&amp;G JV was EBITDA positive again this quarter, reminding us that JEV can effectively redeploy cashflow from the low multiple O&amp;G business to the high multiple hydrogen business.
Production from its O&amp;G JVs was consistent with last quarter, posting positive EBITDA due to the higher commodity prices.


JEV: Q3 Financials in Line with Expectations

<ul>
<li>Jericho announced that two of its associated Hydrogen Hubs were selected to receive up to $1B each in funding from the U.S. DOE’s H2Hubs program.</li>
<li>We expect this announcement to translate into sales orders for the DCC boiler over the coming quarters.</li>
<li>JEV also announced that it has signed a manufacturing MOU with leading firm, Superior Boiler for the manufacturing of the DCC boiler.</li>
</ul>


Jericho announced that two of its associated Hydrogen Hubs were selected to receive up to $1B each in funding from the U.S. DOE’s H2Hubs program.
We expect this announcement to translate into sales orders for the DCC boiler over the coming quarters.
JEV also announced that it has signed a manufacturing MOU with leading firm, Superior Boiler for the manufacturing of the DCC boiler.


Jericho Energy Ventures - DOE Funding & Manufacturing Agreement

<ul>
<li>Portfolio company, H2U announced strong results from durability tests on a new iridium-free catalyst which demonstrated a lifetime of over 25,000 hours (vs. 1,000-1,500 for current iridium-free catalysts).</li>
<li>JEV’s EU partner, Exogen signed an MOU with leading green hydrogen supplier, Lhyfe SA which will supply hydrogen to Exogen’s hydrogen steam plant (which includes the DCC boiler).</li>
<li>HT obtained a new patent for the DCC boiler in the U.S</li>
</ul>


Portfolio company, H2U announced strong results from durability tests on a new iridium-free catalyst which demonstrated a lifetime of over 25,000 hours (vs. 1,000-1,500 for current iridium-free catalysts).
JEV’s EU partner, Exogen signed an MOU with leading green hydrogen supplier, Lhyfe SA which will supply hydrogen to Exogen’s hydrogen steam plant (which includes the DCC boiler).
HT obtained a new patent for the DCC boiler in the U.S


JEV: Reiterating Target Price on Recent Developments

<ul>
<li>Jericho’s O&amp;G joint venture announced softer than expected financial results due to declining commodity prices. JEV plans to commence drilling in Q3/23.</li>
<li>Hydrogen Technologies has posted various exciting updates over the last month including a boiler sales order from a prominent university and the launching of a four-country study with a global beverage giant.</li>
<li>Friday after market close, Jericho Energy Ventures Inc. (JEV:TSXV, OTC:JROOF) reported Q2 financial results that were softer than our expectations for its Oklahoma O&amp;G joint venture.</li>
</ul>


Jericho’s O&amp;G joint venture announced softer than expected financial results due to declining commodity prices. JEV plans to commence drilling in Q3/23.
Hydrogen Technologies has posted various exciting updates over the last month including a boiler sales order from a prominent university and the launching of a four-country study with a global beverage giant.
Friday after market close, Jericho Energy Ventures Inc. (JEV:TSXV, OTC:JROOF) reported Q2 financial results that were softer than our expectations for its Oklahoma O&amp;G joint venture.


JEV: Soft Joint Venture Financials but Hydrogen Portfolio Shines

Canada

Jericho Energy Ventures Inc. is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture, and new energy systems. Jericho Energy Ventures operates worldwide.

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Jericho Energy Ventures (JEV CN)

Weekly Sustainable Investing Surveyor - Week Ended February 2, 2024

The WTR Sustainable Index was up by 1.0% W/W versus the S&P 500 Index (up 1.4%), the Russell 2000 Index (down 0.8%), and the Nasdaq Index (up 1.3%).

Water Tower Research

JEV: Q3 Financials in Line with Expectations

Its O&G JV was EBITDA positive again this quarter, reminding us that JEV can effectively redeploy cashflow from the low multiple O&G business to...

Atrium Research

Jericho Energy Ventures - DOE Funding & Manufacturing Agreement

Jericho announced that two of its associated Hydrogen Hubs were selected to receive up to $1B each in funding from the U.S. DOE’s H2Hubs...

Atrium Research

JEV: Reiterating Target Price on Recent Developments

JEV’s EU partner, Exogen signed an MOU with leading green hydrogen supplier, Lhyfe SA which will supply hydrogen to Exogen’s hydrogen steam plant...

Atrium Research

JEV: Soft Joint Venture Financials but Hydrogen Portfolio Shines

Jericho’s O&G joint venture announced softer than expected financial results due to declining commodity prices. JEV plans to commence drilling in...

Atrium Research

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