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

Equity Bottom-Up

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<li>The WTR Sustainable Index was up 0.3% W/W versus the S&amp;P 500 Index (down 0.2%), the Russell 2000 Index (up 0.4%), and the Nasdaq Index (flat).</li>
<li>Energy Technology (13.4% of th  index) was down 3.0%, while Industrial Climate and Ag Technology (47.7% of the index) was down 0.1%, ClimateTech Mining was down 0.3%, and Advanced Transportation Solutions (20.8% of the index) was up 0.5%.</li>
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Top 10 Performers: TMC, FGPHF, INVZ, GCEH, NXH, MP, WWR, PSIX, OUST, ADSE</li>
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The WTR Sustainable Index was up 0.3% W/W versus the S&amp;P 500 Index (down 0.2%), the Russell 2000 Index (up 0.4%), and the Nasdaq Index (flat).
Energy Technology (13.4% of th  index) was down 3.0%, while Industrial Climate and Ag Technology (47.7% of the index) was down 0.1%, ClimateTech Mining was down 0.3%, and Advanced Transportation Solutions (20.8% of the index) was up 0.5%.

Top 10 Performers: TMC, FGPHF, INVZ, GCEH, NXH, MP, WWR, PSIX, OUST, ADSE


Sustainable Investing Surveyor Focus on T1 Energy (TE)

Global Water Resources  / Equity Bottom-Up

<ul><li>The WTR Sustainable Index was up 1.7% W/W versus the S&amp;P 500 Index (up 1.7%), the Russell 2000 Index (up 1.4%) and the Nasdaq Index (up 1.6%).</li><li>Energy Technology (13.7% of the index) was up 1.9%, while Industrial Climate and Ag Technology (47.6% of the index) was up 2.6%, ClimateTech Mining was up 1.4%, and Advanced Transportation Solutions (20.9% of the index) was up 1.6%.</li><li>Top 10 Performers: WML, WWR, LTBR, SMR, MGPHF, BE, PSIX, GTEC, LOOP, WPRT</li></ul>

The WTR Sustainable Index was up 1.7% W/W versus the S&amp;P 500 Index (up 1.7%), the Russell 2000 Index (up 1.4%) and the Nasdaq Index (up 1.6%).Energy Technology (13.7% of the index) was up 1.9%, while Industrial Climate and Ag Technology (47.6% of the index) was up 2.6%, ClimateTech Mining was up 1.4%, and Advanced Transportation Solutions (20.9% of the index) was up 1.6%.Top 10 Performers: WML, WWR, LTBR, SMR, MGPHF, BE, PSIX, GTEC, LOOP, WPRT

Sustainable Investing Surveyor Focus on Global Water Resources, Inc. (GWRS)

Thematic (Sector/Industry)

<ul><li>The WTR Sustainable Index was up 3.0% W/W versus the S&amp;P 500 Index (up 3.9%), the Russell 2000 Index (up 2.9%) and the Nasdaq Index (up 5.4%).</li><li>Energy Technology (13.8% of the index) was up 3.8%, while Industrial Climate and Ag Technology (46.2% of the index) was up 2.9%, ClimateTech Mining was up 2.7%, and Advanced Transportation Solutions (20.1% of index) was up 2.7%.</li><li>Top 10 Performers: ZEV, ORGN, GIGA, GTEC, PSIX, GEVO, GCEI, COMM, ASPN, FF</li></ul>

The WTR Sustainable Index was up 3.0% W/W versus the S&amp;P 500 Index (up 3.9%), the Russell 2000 Index (up 2.9%) and the Nasdaq Index (up 5.4%).Energy Technology (13.8% of the index) was up 3.8%, while Industrial Climate and Ag Technology (46.2% of the index) was up 2.9%, ClimateTech Mining was up 2.7%, and Advanced Transportation Solutions (20.1% of index) was up 2.7%.Top 10 Performers: ZEV, ORGN, GIGA, GTEC, PSIX, GEVO, GCEI, COMM, ASPN, FF

Sustainable Investing Surveyor - Focus on Green Plains, Inc. (GPRE)

<ul><li>The WTR Sustainable Index was down 0.8% W/W versus the S&amp;P 500 Index (up 0.6%), the Russell 2000 Index (up 0.8%), and the Nasdaq Index (up 0.2%).</li><li>Energy Technology (14.5% of the index) was down by 3.0%, while Industrial Climate and Ag Technology (60.3% of the index) was up by 0.2%, ClimateTech Mining was down 5.3%, andAdvanced Transportation Solutions (19.6% of index) was down 2.6%.</li><li>Top 10 Performers: NRM, VIHD, OESX, FNI, DCFC, PNPN, SMR, LICY, ASYS, PSIX</li></ul>

The WTR Sustainable Index was down 0.8% W/W versus the S&amp;P 500 Index (up 0.6%), the Russell 2000 Index (up 0.8%), and the Nasdaq Index (up 0.2%).Energy Technology (14.5% of the index) was down by 3.0%, while Industrial Climate and Ag Technology (60.3% of the index) was up by 0.2%, ClimateTech Mining was down 5.3%, andAdvanced Transportation Solutions (19.6% of index) was down 2.6%.Top 10 Performers: NRM, VIHD, OESX, FNI, DCFC, PNPN, SMR, LICY, ASYS, PSIX

Sustainable Investing Surveyor - Focus on Spruce Power Holding Corporation (SPRU)

CBAK Energy Technology  / Equity Bottom-Up

<ul><li>The WTR Sustainable Index was down 1.7% W/W versus the S&amp;P 500 Index (up 1.6%), the Russell 2000 Index (down 1.0%), and the Nasdaq Index (up 3.5%).</li><li>Energy Technology (14.8% of the index) was down by 0.6%, while Industrial Climate and Ag Technology (59.7% of the index) was up by 0.3%, ClimateTech Mining was down 11.4%, and Advanced Transportation Solutions (19.9% of index) was down 6.6%.</li><li>Top 10 Performers: NRM, LICY, BRDS, KULR, NEOV, PSIX, AMSC, FLUX, EOSE, VLI</li></ul>

The WTR Sustainable Index was down 1.7% W/W versus the S&amp;P 500 Index (up 1.6%), the Russell 2000 Index (down 1.0%), and the Nasdaq Index (up 3.5%).Energy Technology (14.8% of the index) was down by 0.6%, while Industrial Climate and Ag Technology (59.7% of the index) was up by 0.3%, ClimateTech Mining was down 11.4%, and Advanced Transportation Solutions (19.9% of index) was down 6.6%.Top 10 Performers: NRM, LICY, BRDS, KULR, NEOV, PSIX, AMSC, FLUX, EOSE, VLI

Sustainable Investing Surveyor - Focus on CBAK Energy Technology, Inc. (CBAT)

United States

Power Solutions International, Inc. manufactures engines for off-highway industrial equipment.  The engines primarily operate on alternative fuels such as natural gas and propane.  The Company sells engines for stationary generators, oil and gas equipment, forklifts, aerial work platforms, industrial sweepers, arbor equipment, agricultural and turf equipment and other equipment.

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Power Solutions International (PSIX US)

Sustainable Investing Surveyor Focus on T1 Energy (TE)

The WTR Sustainable Index was up 0.3% W/W versus the S&P 500 Index (down 0.2%), the Russell 2000 Index (up 0.4%), and the Nasdaq Index (flat).

Water Tower Research

Sustainable Investing Surveyor Focus on Global Water Resources, Inc. (GWRS)

The WTR Sustainable Index was up 1.7% W/W versus the S&P 500 Index (up 1.7%), the Russell 2000 Index (up 1.4%) and the Nasdaq Index (up 1.6%).

Water Tower Research

Sustainable Investing Surveyor - Focus on Green Plains, Inc. (GPRE)

The WTR Sustainable Index was up 3.0% W/W versus the S&P 500 Index (up 3.9%), the Russell 2000 Index (up 2.9%) and the Nasdaq Index (up 5.4%).

Water Tower Research

Sustainable Investing Surveyor - Focus on Spruce Power Holding Corporation (SPRU)

The WTR Sustainable Index was down 0.8% W/W versus the S&P 500 Index (up 0.6%), the Russell 2000 Index (up 0.8%), and the Nasdaq Index (up 0.2%).

Water Tower Research

Sustainable Investing Surveyor - Focus on CBAK Energy Technology, Inc. (CBAT)

The WTR Sustainable Index was down 1.7% W/W versus the S&P 500 Index (up 1.6%), the Russell 2000 Index (down 1.0%), and the Nasdaq Index (up 3.5%).

Water Tower Research

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