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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>US electricity generation is projected to reach 4,423 BkWh by 2027, driven by solar’s rapid growth from 290 BkWh in 2025 to 424 BkWh via 70 GW of new capacity, especially in Texas ERCOT (56 to 106 BkWh), with battery storage expanding to 37 GW. </li><li>The Trump administration will likely delay cuts to imported biofuel credits in 2026 RFS, preserving quotas near 24 billion gallons amid refiner opposition.</li><li>National Grid will roll out smart meters to 120,000 Buffalo homes for real-time grid management and renewables integration, despite billing concerns. </li></ul>

US electricity generation is projected to reach 4,423 BkWh by 2027, driven by solar’s rapid growth from 290 BkWh in 2025 to 424 BkWh via 70 GW of new capacity, especially in Texas ERCOT (56 to 106 BkWh), with battery storage expanding to 37 GW. The Trump administration will likely delay cuts to imported biofuel credits in 2026 RFS, preserving quotas near 24 billion gallons amid refiner opposition.National Grid will roll out smart meters to 120,000 Buffalo homes for real-time grid management and renewables integration, despite billing concerns. 

Sustainable Investing Surveyor : Focus on Polar Power, Inc. (POLA) - 20 January 2026

<div><ul><li>POLA’s business focuses on delivering power and cooling solutions designed for high efficiency, reliability, and reduced operational costs. </li><li>POLA targets applications such as robotics, communications, electric vehicle (EV) charging, data centers, and microgrids, focusing on markets underserved by large generator manufacturers. </li><li>Its strategy tightly integrates power and cooling in its products to lower both operational and capital expenses for customers. See POLA’s IR presentation.</li></ul></div>

POLA’s business focuses on delivering power and cooling solutions designed for high efficiency, reliability, and reduced operational costs. POLA targets applications such as robotics, communications, electric vehicle (EV) charging, data centers, and microgrids, focusing on markets underserved by large generator manufacturers. Its strategy tightly integrates power and cooling in its products to lower both operational and capital expenses for customers. See POLA’s IR presentation.

WTR Small-Cap Spotlight Recap (POLA) - 12 January 2026

Thematic (Sector/Industry)

<ul><li>Last week, the WTR Sustainable Index was down 0.4% W/W versus the S&amp;P 500 Index (up 0.3%), the Russell 2000 Index (up 1.0%), and the Nasdaq Index (up 1.0%).</li><li>Energy Technology (42% of the index) was up 1.4%, while Transportation Solutions (33% of the index) was down 1.8%, Climate Tech and Clean Tech (18% of the index) was down 0.6%, and Climate Tech Mining and Processing (7% of the index) was down 3.7%.</li><li>Top 10 Performers: WNDW, POLA, STTDF, ALLIF, LOOP, RAIN, IONR, ZTEK, AWLIF, AKCCF</li></ul>

Last week, the WTR Sustainable Index was down 0.4% W/W versus the S&amp;P 500 Index (up 0.3%), the Russell 2000 Index (up 1.0%), and the Nasdaq Index (up 1.0%).Energy Technology (42% of the index) was up 1.4%, while Transportation Solutions (33% of the index) was down 1.8%, Climate Tech and Clean Tech (18% of the index) was down 0.6%, and Climate Tech Mining and Processing (7% of the index) was down 3.7%.Top 10 Performers: WNDW, POLA, STTDF, ALLIF, LOOP, RAIN, IONR, ZTEK, AWLIF, AKCCF

Sustainable Investing Surveyor Focus on Eco Wave Power (WAVE) - September 8, 2025

<ul><li>The WTR Sustainable Index underperformed the broader market, falling 3.6% W/W versus the S&amp;P 500 Index (down 1.3%) and the Nasdaq Index (down 1.4%), but in line with the Russell 2000 Index (down 3.6%).</li><li>Energy Technology (14.9% of the index) contributed to the index’s underperformance, falling 3.7%, while Industrial Climate and Ag Technology (6.5% of the index) was down 2.4%, ClimateTech Mining was down 3.7% and Advanced Transportation Solutions was down 5.3%.</li><li>Top 10 Performers: ALLIF, NILI, GTEC, HYSR, FE, ETL, LNZA, LBNK, NGPHF, FNI</li></ul>

The WTR Sustainable Index underperformed the broader market, falling 3.6% W/W versus the S&amp;P 500 Index (down 1.3%) and the Nasdaq Index (down 1.4%), but in line with the Russell 2000 Index (down 3.6%).Energy Technology (14.9% of the index) contributed to the index’s underperformance, falling 3.7%, while Industrial Climate and Ag Technology (6.5% of the index) was down 2.4%, ClimateTech Mining was down 3.7% and Advanced Transportation Solutions was down 5.3%.Top 10 Performers: ALLIF, NILI, GTEC, HYSR, FE, ETL, LNZA, LBNK, NGPHF, FNI

Weekly Sustainable Investing Surveyor - Week Ended September 8, 2023

<ul>
<li>During the week ended May 12, 2023, there were four increases (one in Energy Technology, and three in Industrial Climate and Ag Technology) 2022 revenue estimates.</li>
<li>There were four decreases in 2022 revenue estimates for three companies in Energy Technology, and one company in Advanced Transportation Solutions.</li>
<li>One company in Advanced Transportation Solutions and three companies in Industrial Climate and Ag Technology saw increases in 2022 EPS estimates, while two companies each in Energy Technology and Advanced Transportation Solutions saw decreases in 2022 EPS estimates.</li>
</ul>


During the week ended May 12, 2023, there were four increases (one in Energy Technology, and three in Industrial Climate and Ag Technology) 2022 revenue estimates.
There were four decreases in 2022 revenue estimates for three companies in Energy Technology, and one company in Advanced Transportation Solutions.
One company in Advanced Transportation Solutions and three companies in Industrial Climate and Ag Technology saw increases in 2022 EPS estimates, while two companies each in Energy Technology and Advanced Transportation Solutions saw decreases in 2022 EPS estimates.


Weekly Sustainable Investing Surveyor : Week Ended May 12, 2023

United States

Polar Power, Inc. designs and manufactures power and cooling systems. The Company offers direct-current (DC) generators, DC alternators, batteries, and generator accessories. Polar Power serves telecommunications, military, hybrid power systems, and marine sectors globally.

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Polar Power (POLA US)

Sustainable Investing Surveyor : Focus on Polar Power, Inc. (POLA) - 20 January 2026

US electricity generation is projected to reach 4,423 BkWh by 2027, driven by solar’s rapid growth from 290 BkWh in 2025 to 424 BkWh via 70...

Water Tower Research

WTR Small-Cap Spotlight Recap (POLA) - 12 January 2026

POLA’s business focuses on delivering power and cooling solutions designed for high efficiency, reliability, and reduced operational costs.

Water Tower Research

Sustainable Investing Surveyor Focus on Eco Wave Power (WAVE) - September 8, 2025

Last week, the WTR Sustainable Index was down 0.4% W/W versus the S&P 500 Index (up 0.3%), the Russell 2000 Index (up 1.0%), and the Nasdaq Index...

Water Tower Research

Weekly Sustainable Investing Surveyor - Week Ended September 8, 2023

The WTR Sustainable Index underperformed the broader market, falling 3.6% W/W versus the S&P 500 Index (down 1.3%) and the Nasdaq Index (down 1.4%)

Water Tower Research

Weekly Sustainable Investing Surveyor : Week Ended May 12, 2023

During the week ended May 12, 2023, there were four increases (one in Energy Technology, and three in Industrial Climate and Ag Technology) 2022...

Water Tower Research

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