News and views on quoted cleantech stocks

Vestas upgraded to hold

Date: 19 August 2015

Broker: Commerzbank
Company: Vestas
Share price: DKK385.50
Target price: DKK380
Recommendation: Hold (from reduce)


Nature profit boost

Waste water treatment company Nature Group has paid €3.1 million for the Hydrovac 12 vessel in order to boost group profitability.

The large double hulled tanker has been leased by Nature since 2013 and it is used in the Rotterdam operations. By acquiring the vessel, Nature expects to add £173,000 to its annual profit.


ZincOx completes fundraising

Zinc recycling plant operator ZincOx Resources has raised £1m from its open offer.

The open offer could have raised up to £1.1m at 13p a share. ZincOx had already raised £2.1m from a placing at the same share price.

The cash is required to finance the debottlenecking of the Korean zinc recycling plant, which will involve new equipment. This could cost around £2m but the benefits could be worth around £3m a year.

The plant has been operating near to capacity in April and May but there has been a lack of supply of electric arc furnace dust. ZincOx will seek to import additional electric arc furnace dust.


Developing Water leaves GXG

Developing Water has been able to raise the finance it requires to undertake its projects and it is convening a meeting of its creditors.

An independent investor failed to complete an investment in the company and there is not enough cash to make investments in projects. The company’s quotation on the GXG First Quote has been terminated. Developing Water joined the market in March. GXG is closing and some of its companies are moving to the Channel Islands Stock Exchange. 

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